A. Owners
and operators shall submit to the Department evidence of all financial
assurance mechanisms used to demonstrate financial responsibility under this
Article for an underground storage tank as provided in this Article.
1.
All petroleum marketing firms owning 1,000 or more
USTs and all other UST owners that report a tangible net worth of $20 million
or more to the U.S. Securities and Exchange Commission (SEC), Dun and
Bradstreet, the Energy Information Administration, or the Rural Electrification
Administration: within 180 days after the effective date of this
Section;
2.
All petroleum marketing firms owning 100-999 USTs:
within 180 days after the effective date of this Section;
3.
All petroleum marketing firms owning a total of
13-99 USTs which are located at more than one facility: within 180 days after
the effective date of this Section;
4.
All petroleum UST owners not described in
subsections (A)(1) through (3), excluding all local government entities: by
December 31, 1993;
5.
All local government entities: one year from the
date of final federal promulgation of additional mechanisms for use by local
government entities to comply with financial responsibility requirements for
underground storage tanks containing petroleum.
B. Owners and operators shall use the
financial assurance mechanisms in this Article to comply with financial
responsibility requirements as follows:
1.
Owners and operators, including local government owners and operators, may use
any one or combination of the financial assurance mechanisms listed in
R18-12-305 through
R18-12-312 to demonstrate
financial responsibility under this Article for one or more underground storage
tanks;
2. Local government owners
and operators may also use any one or combination of the financial assurance
mechanisms listed in
R18-12-314 through
R18-12-317 to demonstrate
financial responsibility under this Article for one or more underground storage
tanks.
C.Owners and
operators shall submit evidence of compliance with the requirements of this
Article. Owners and operators shall submit to, and maintain with, the
Department a copy of any one or combination of the assurance mechanisms
specified in
R18-12-305 through
R18-12-312, and
R18-12-314 through
R18-12-317 currently in effect
along with a copy of the standby trust agreement, if required. Owners and
operators using an assurance mechanism specified in
R18-12-305 through
R18-12-312 and
R18-12-314 through
R18-12-317 shall submit to, and
maintain with, the Department an updated copy of a certification of financial
responsibility worded as provided in
40
CFR
280.111(b)(11)(i),
amended as of October 13, 2015, except that instructions in brackets are to be
replaced with the relevant information and the brackets deleted. In addition,
local government owners and operators shall comply with one or more of the
following:
1. Local government owners and
operators using the local government bond rating test under
R18-12-314 shall submit a copy of
its bond rating published within the last 12 months by Moody's or Standard
& Poor's;
2. Local government
owners and operators using the local government guarantee under
R18-12-316, if the guarantor's
demonstration of financial responsibility relies on the bond rating test under
R18-12-314 shall submit a copy of
the guarantor's bond rating published within the last 12 months by Moody's or
Standard & Poor's;
3. Local
government owners and operators using a local government fund under
R18-12-317 shall submit the
following documents:
a. A copy of the state
constitutional provision or local government statute, charter, ordinance, or
order dedicating the fund;
b.
Year-end financial statements for the most recent completed financial reporting
year showing the amount in the fund. If the fund is established under
R18-12-317(A)(3)
using incremental funding backed by bonding authority, the financial statements
shall show the previous year's balance, the amount of funding during the year,
and the closing balance in the fund;
c. If the fund is established under
R18-12-317(A)(3)
using incremental funding backed by bonding authority, owners and operators
shall also submit documentation of the required bonding authority, including
either the results of a voter referendum under
R18-12-317(A)(3)(a),
or attestation by the state attorney general as specified under
R18-12-317(A)(3)(b).
4. Local government owners and
operators using the local government guarantee supported by the local
government fund shall submit a copy of the guarantor's year-end financial
statements for the most recent completed financial reporting year showing the
amount of the fund.
D.
Owners and operators shall maintain evidence of all financial assurance
mechanisms used to demonstrate financial responsibility under this Article for
an underground storage tank until released from the requirements of this
Article under
R18-12-323 . Owners and operators
shall maintain such evidence at the underground storage tank site or a readily
available alternative site. Records maintained off-site shall be provided for
inspection to the Department upon request.
Notes
Ariz. Admin.
Code §
R18-12-301
Adopted effective
September 21, 1992 (Supp. 92-3). Amended effective July 30, 1996 (Supp. 96-3).
Amended by final rulemaking at
25
A.A.R. 3123, effective
10/1/2020.
