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A 'o- ( 0 1)�.h 4--,- <br /> J'e)) V I,� Pn' , <br /> 4 V IJ ✓a <br /> April 12, 1996 <br /> I N T E R O F F I C E M E M O R A N D U M <br /> TO: Debbie Mulloy <br /> DMG <br /> FROM: Cheryl A. Linden <br /> First Assistant Attorney General <br /> RE: Mid-Continent Resources <br /> As you are aware, Mid-Continent Resources went bankrupt in <br /> February of 1992 . Although the focus has been on MCR' s coal <br /> mine, this company also holds two minerals permits for limestone <br /> quarries . The Division has received money under MCR' s <br /> liquidation plan in connection with one of the quarries . <br /> Consequently, this money should be held in a separate account <br /> from that of the coal funds . /7- � <br /> The two minerals permits involed are for the Mid-Continent <br /> Quarry and the Marblehead Quarry. The bond for the Mid-Continent <br /> Quarry was a deed of trust to the Carbondale Industrial Park in <br /> the amount of $7, 000 . In July 1994, the Division received a <br /> check for the $7, 000 . However, the Minerals Program has not <br /> received the money because it was put into the account pertaining <br /> to the coal mine . Thus, there should be separate accounts <br /> created for the minerals permits, and in the meantime, $7, 000 <br /> should be taken out of the coal account and put into a separate <br /> account for the Mid-Continent Quarry. <br /> The certificate of deposit held on the Marblehead Quarry has <br /> not yet been cashed by the Division. Consequently, the c/d is <br /> still held by the Division. If you have any questions, please <br /> call me at 866-5032 . Thanks . <br /> CC : Mike Long <br /> Bruce Humphries <br /> Gregg Squire <br />