MASSACHUSETTS THROUGHBRED BREEDERS ASSOCIATION

Minutes

November 20, 2007

Vinny Testa’s

Dedham, Massachusetts

President George Brown called the meeting to order at 7:00 PM.

Board Members Present	Absent	Guests
Brown, George - Chair	Dullea, Shirley	Brown, Arlene –Recording Secretary
Benson, Michael	McDonnell, Ed	Robbins, Harland-Financial Director
Catapano, Frank	Janjigian, Armand	Joyce, Beverly
Dirico, Joe	Loebelenz, Lee	Koski, Bill
Ferguson, Margaret		Wakely, Chip
Joyce, Daniel		Burke, Don
Reagan, Kathy - Alternate		Burke, Suzanne
Rose, Gregg
Salim, Adel
Spadea, Anthony - Treasurer
Stone, Ed - Alternate

1.) Secretary’s Report:

Minutes from October 23, 2007 reviewed by board

Motion to accept minutes: Anthony Spadea Second: Motion: Greg Rose Carries: Unanimous

2.) Treasurer's Report

Mr. Harland Robbins presented a balance sheet for review by the board. He had included all figures up to and including November 12 on all MTBA accounts. They show that the organization will conclude the year with a $10,510 surplus.

He also reviewed the status of the IRS leans against MTBA. He has now received verbal acknowledgement that the last of the liens ($3,700) has been lifted. He is awaiting written conformation.

Motion to accept treasurer’s report: Mike Benson Second: Meg Ferguson

Carries: Unanimous

3.) Chairman’s notes and comments

a) Mr. Brown asked Mr. Anthony Spadea to inform the directors about the meeting with the lottery commission. Mr. Spadea said that he, Chip Tuttle, Chris Tejhian, Chuck Andrade, Andy Hunt, George Brown and several members of the lottery commission met to discuss the new lottery horse racing game.

Mr. Spadea explained that he felt the MTBA representatives were in an awkward position. Since all revenues revert back to the lottery and any disbursements must be legislated, neither Suffolk nor MTBA representatives want to ripple the waters right now by asking for a percentage while the legislators are considering the gaming issue. Mr. Spadea suggested to the commission that they sponsor a race at Suffolk Downs since they would be siphoning interest away from live racing.

The lottery will be testing the animated racing game in 250 locations.

b) Mr. Brown explained to the board that we cannot pursue obtaining subscriptions for all members with the Thoroughbred Times because the Times requires a copy of our mailing list. The directors voted “no” to releasing the list citing possible violations of privacy issues.

4.)Old Business

a) Two people who were voted in as alternates do not meet the criteria for becoming directors according to the new by-laws. A motion was made to allow these people until the first meeting of next year to comply. A letter will be sent to these people to explain the position of the board.

Motion: Mike Benson Second: Meg Ferguson Carries : Unanimous

5) New Business

a) A letter of resignation was received by the board from Shirley Dullea. A motion was made to accept the letter with regrets.

Motion: Joe Dirico Second: Adel Salim Carries : Unanimous

b) A motion was made to make alternate Ed Stone a director to fulfill Shirley’s term.

Motion: Dan Joyce Second: Joe Dirico Carries : Unanimous

c) Mr. Harland Robbins asked the board to approve a $100 Christmas gift for each lady in the horsemen’s bookkeepers office. A motion was so made.

Motion: Anthony Spadea Second: Joe Dirico Carries : Unanimous

d) Membership dues were discussed. It was decided that:

i. A “regular” membership would be for people who owned 100% of a thoroughbred horse used for racing or breeding, that such members would be eligible to run for the board of directors and that such members would have one (1) vote at annual or special meetings.

ii. A “business” membership would be for entities such as, but not limited to, partnerships, LLC, LLP, Estates or Farms providing services to the thoroughbred racing/breeding industry. Such entities regardless of the number of partners would designate one representative for the entity who would be eligible to run for the board of directors and would have one (1) vote at annual or special meetings.

iii. An “associate” member would be anyone not having a financial interest in the racing industry but would like to be associated with MTBA. Such a member would not have voting rights or eligibility to run for the board of directors.

iv. Dues would be $150 per year. If paid by 5/1 of the year of membership a discount rate of $100 would apply.

v. Non-members will have a check processing fee of $100 deducted from the awards check.

Motion: Anthony Spadea Second: Frank Catapano Carries : Unanimous

6) Next Meeting: Thursday, December 13, 2007 at Vinny T’s 6:30 PM

7). Adjournment of regular meeting: 8:50PM

Motion from: Mike Benson Second: Anthony Spadea Carries: Unanimous

Respectfully Submitted:

Arlene B. Brown