SOLID WASTE PROCESSING AND DISPOSAL
(Rule 1200-01-07-.03, continued)
guarantor must meet the requirements for the owner or operators in subparts (i), (ii), and (iii) of this part and must comply with the terms of the guarantee. The wording of the guarantee must be identical to the working specified in subparagraph (l) of this paragraph. The certified copy of the guarantee must accompany the items sent to the Commissioner. One of these items must be the letter from the guarantor’s chief financial officer. If the guarantor’s parent corporation is also the parent corporation of the owner or operator, the letter must describe the value received in consideration of the guarantee. If the guarantor is a firm with a “substantial business relationship” with the owner or operator, this letter must describe this “substantial business relationship” and the value received in consideration of the guarantee. The terms of the guarantee must provide that:
If the owner or operator fails to perform final closure and/or post- closure of a facility covered by the corporate guarantee in accordance with the closure/post-closure plan and other permit requirements whenever required to do so, the guarantor will do so or establish a trust fund worded as required in subparagraph(l) of this paragraph in the name of the owner or operator.
The corporate guarantee will remain in force unless the guarantor sends notice of cancellation by certified mail to the owner or operator and to the Commissioner. Cancellation may not occur, however, during the 120 days beginning on the date of receipt of the notice of cancellation by both the owner or operator and the Commissioner, as evidenced by the return receipts.
If the owner or operator fails to provide alternate financial assurance as specified in this subparagraph and obtain the written approval of such alternate assurance from the Commissioner within 90 days after receipt by both the owner or operator and the Commissioner of a notice of cancellation of the corporate guarantee from the guarantor, the guarantor will provide such alternate financial assurance in the name of the owner or operator.
Municipality or County Contract of Obligation - A municipality or county may
execute a contract obligation shall be a the Commissioner to
of obligation with binding agreement collect the required
the Commissioner. Such contract of on the municipality or county, allowing amount from any funds being disbursed
shall be with the
filed with the State Commissioner of Environment and State Commissioner of Finance and Administration.
Closure/post-closure trust fund - An owner or operator may satisfy the requirements of subparagraph (c) of this paragraph by establishing a closure and/or post-closure trust fund which conforms to the requirements of this part and filing an originally signed duplicate of the trust agreement. The trustee must be an entity which has the authority to act as a trustee and whose trust operations are regulated and examined by a Federal or State agency.
The wording of the trust agreement must be worded as required at subparagraph (l) of this paragraph and the trust agreement must be accompanied by a formal certification of acknowledgment worded as required at subparagraph (l) of this paragraph. Schedule A of the trust agreement must be updated within 60 days after a change in the amount of
May, 2010 (Revised)