2019 South Bend Financial Assurance Test Report

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SOLID WASTE LAND DISPOSAL FACILITIES disallowance. (C)The local government permittee shall complete the calculation of costs to be assured.The portion of the closure, post-closure,and corrective action costs for which a local government permittee can assure under this subdivision is determined as follows: (i)If the local government permittee does not assure other environmental obligations through a financial test, the local government permittee may assure closure,post-closure,and corrective action costs that equal up to forty-three percent (43%)of the local government permittee’s total annual revenue. (ii)Ifthe local government permittee assures other environmental obligations through a financial test,including those associated with: (AA)underground injection control (UIC)facilities under 40 CFR 144.62; (BB)petroleum underground storage tank facilities under 329 IAC 9-8; (CC)polychlorinated biphenyls (PCB)storage facilities under 40 CFR 761;and (DD)hazardous waste treatment,storage,and disposal facilities under 329 IAC 3.1-14 or 329 IAC 3.1- 15; the local government permittee shall add those costs to the closure,post-closure,and corrective action costs the local government permittee seeks to assure under this subdivision.The total that may be assured must not exceed forty-three percent (43%)of the local government permittee’s total annual revenue. (iii)The local government permittee shall obtain an alternate financial assurance instrument for those costs that exceed the limits set in this clause. (7)The local government guarantee option,including the following: (A)A permittee may demonstrate financial assurance for closure,post-closure,and corrective action,as required by sections 2,3,and 10 of this rule,as follows: (i)Obtain a written guarantee provided by a local government. (ii)Submit an original signed copy and a duplicate of the written guarantee to the commissioner. (B)The guarantor shall meet the requirements of the local government financial test in subdivision (6)and shall comply with the terms of a written guarantee as follows: (i)The guarantee must be effective: (AA)before the initial receipt of waste or at the time of the next required local government financial test annual submittal,whichever is later,in the case of closure and post-closure care;or (BB)not later than one hundred twenty (120)days after the corrective action remedy has been selected in accordance with the requirements of 329 IAC 10-21-13. (ii)The guarantee must provide the following: (AA)If the permittee fails to perform any combination of closure,post-closure care,or corrective action of a facility covered by the guarantee,the guarantor shall: (aa)perform or pay a third party to perform any combination of closure,post-closure care,or corrective action as required under this subitem;or (bb)establish a filly funded trust fund as specified in subdivision (1)in the name of the permittee. ~B)The guarantee will remain in force unless the guarantor sends notice of cancellation by certified mail to the permittee and to the commissioner.Cancellation must not occur during the one hundred twenty (120)days beginning on the date of receipt of the notice of cancellation by both the permittee and the commissioner as evidenced by the return receipts. (CC)If a guarantee is canceled under subitem (BB),the permittee shall,within ninety (90)days following receipt of the cancellation notice by the permittee and the commissioner,complete the following: (aa)Obtain alternate financial assurance under this rule. (bb)Place evidence of that alternate financial assurance in the facility operating record. (cc)Noti&the commissioner. (DD)If the permittee fails to provide alternate financial assurance within the ninety (90)day period under subitem (CC),the guarantor shall complete the following: (aa)Provide alternate assurance within one hundred twenty (120)days following the guarantor’s Indiana Administrative Code Page 255