16 Tex. Admin. Code § 12.307 - Adjustment of Amount
(a) The amount of
the performance bonds applicable to a permit may be adjusted by the Commission
when the cost of future reclamation work changes. The Commission shall notify
the permittee, surety, and any other person with a property interest in the
collateral posted under this subchapter (relating to Bond and Insurance
Requirements for Surface Coal Mining and Reclamation Operations), of any
proposed bond adjustment and provide the permittee an opportunity for an
informal conference on the adjustment. Bond adjustments are not subject to
procedures of bond release under §§
12.312 and
12.313 of this title (relating to
Procedures, Criteria, and Schedule for Release of Performance Bond).
(b) A permittee may request reduction of the
amount of performance bond upon submission of evidence to the Commission
proving that the permittee's method of operation or other circumstances will
reduce the estimated cost to the Commission to reclaim the area bonded. This
reduction of bond shall be deemed a bond adjustment.
(c) In the event that an approved operations
and reclamation plan is modified in accordance with Subchapter G of this
chapter (relating to Surface Coal Mining and Reclamation Operations Permits and
Coal Exploration Procedures Systems), the Commission will review the bond for
adequacy and, if necessary, will adjust the bond to conform to the operations
and reclamation plan as modified.
(d) The amount of the bond or deposit
required and the terms of each acceptance of the applicant's bond shall be
adjusted by the Commission from time to time as affected land acreages are
increased or decreased or where the cost of future reclamation
changes.
Notes
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