2014 South Bend Financial Assurance Test Report

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SOLID WASTE LAND DISPOSAL FACILITIES corrective action remedy is selected in accordance with the requirements of 329 IAC 10- 21 -13. (CC) After the initial placement of the items in the facility's operating record, the local government permittee shall: (aa) update the information; and (bb) place the updated information in the operating record; within one hundred eighty (180) days following the close ofthe local government permittee's fiscal year. (DD) The local government permittee is no longer required to meet the requirements of this item when either the local government permittee: (aa) substitutes alternate financial assurance as specified in this rule; or (bb) is released from the requirements of this rule in accordance with section 6 or 11 of this rule. (EE) A local government permittee shall satisfy the requirements of the financial test at the close of each fiscal year. If the local government permittee no longer meets the requirements of the local government financial test, the local government permittee shall, within one hundred twenty (120) days following the close of the local government permittee's fiscal year, complete the following: (aa) Obtain alternative financial assurance that meets the requirements of this rule. (bb) Place the required submissions for that assurance in the facility's operating record. (cc) Notify the commissioner that the local government permittee no longer meets the criteria of the financial test and that alternate assurance has been obtained. (FF) The commissioner, based on a reasonable beliefthat the local government permittee may no longer meet the requirements of the local government financial test, may require additional reports of financial condition from the local government permittee at anytime. Ifthe commissioner finds, on the basis ofthe reports or other information, that the local government permittee no longer meets the requirements ofthe local government financial test, the local government permittee shall provide alternate financial assurance in accordance with this rule. (GG) The commissioner may disallow use of this test on the basis of qualifications in the opinion expressed in the state board of accounts' annual financial audit of the local government permittee. An adverse opinion or a disclaimer of opinion is cause for disallowance. Other qualifications may be cause for disallowance if, in the opinion of the commissioner, the qualifications indicate the local government permittee does not meet the requirements ofthis subdivision. The local government permittee shall choose an alternate financial responsibility mechanism within ninety (90) days after notification of the 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 foe those costs that exceed the limits set in this clause. Indiana Administrative Code Page 254