Or. Admin. R. 141-145-0050 - Special Conditions for a Soil or Sediment Cap
(1) The holder of an authorization for a soil
or sediment cap must maintain cost estimates of the amount of financial
assurance that is necessary for the purposes below, and demonstrate to the
Department's satisfaction that the holder has in effect the amount and form of
required financial assurance, for:
(a) The
costs of maintaining and monitoring of the sediment cap ; and
(b) Any corrective action required by the
Department or any other local, state or federal government agency with
jurisdiction over the site to be taken at the site of the sediment cap.
(2) Such cost estimates
and evidence of the required financial assurance must be provided in writing to
the Department :
(a) Prior to the granting of
the authorization ; and
(b) On an
annual basis to be received by the Department by January 31 of every calendar
year following the granting of the authorization by the Department or, on a
more frequent basis as required by the Department.
(3) The financial assurance required by OAR
141-145-0050(1)
may be satisfied by any one, or a combination of the following:
(a) Insurance specific to the construction
and maintenance of a soil or sediment cap ;
(b) Establishment of a trust fund with cash
to the required dollar amount, with the benefactor as the State of Oregon,
Department of State Lands;
(c)
Surety bond;
(d) Letter of credit;
or
(e) Other financial assurance
mechanisms as deemed acceptable by the Department .
(4) The Department will accept documented
financial assurance provided by a holder through an existing order issued by
the ODEQ or EPA as evidence that the requirements of this section have been
met.
(5) Nothing in this section
shall be construed as preempting, limiting, or superseding any protections and
limitations afforded to sureties under federal and state law.
Notes
Stat. Auth.: ORS 183, 273 & 274
Stats. Implemented: ORS 274
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