N.M. Admin. Code § 19.8.20.2072 - SUBSIDENCE CONTROL: ADJUSTMENT OF BOND AMOUNT FOR SUBSIDENCE DAMAGE
A. When
subsidence-related material damage occurs to land, structures or facilities, or
contamination, diminution, or interruption to a water supply protected under
Subsections A through D of
19.8.20.2069 NMAC, the director
must require the permittee to obtain additional performance bond in the amount
of the estimated cost of the repairs if the permittee will be repairing, or in
the amount of the decrease in value if the permittee will be compensating the
owner, or in the amount of the estimated cost to replace the protected water
supply if the permittee will be replacing the water supply, until the repair,
compensation, or replacement is completed. If repair, compensation, or
replacement is completed within 90 days of the occurrence of damage, no
additional bond is required. The regulatory authority may extend the 90-day
time frame, but not to exceed one year, if the permittee demonstrates and the
regulatory authority finds in writing that subsidence is not complete, that not
all probable subsidence-related material damage has occurred to lands or
protected structures, or that not all reasonably anticipated changes have
occurred affecting the protected water supply, and that therefore it would be
unreasonable to complete within 90 days the repair of the subsidence-related
material damage to lands or protected structures, or the replacement of
protected water supply.
B.
[Reserved]
Notes
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