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C)
<br /> administrative costs and expenses which would be NOTE: Authority cited: Section 2773.1, Public Resources
<br /> incurred by the lead agency or the Department of Code. Reference: Section 2773.1(e), Public Resources
<br /> Conservation, the total of which shall be calculated in Code.
<br /> § 3805. Review by the Department of Conservation.
<br /> accordance with section 3804, and shall constitute an Pursuant to Section 2774(c), Public Resources Code,
<br /> obligation to pay by the operator.
<br /> (c} "Financial Assurance" means an instrument, fund the lead agency shall submit a copy of the proposed
<br /> or other form of Financial Assurance as provided in Financial Assurance and the Calculation of Financial
<br /> Section 2773.1{a} and 1e) of the Public Resources Code Assurance Amount submitted by the operator pursuant to
<br /> and this Article. Section 3804 to the Director of the Department of
<br /> (d} "Pledge of Revenue" means a financial assurance Conservation for review. With this submittal the lead
<br /> mechanism meeting the requirements of Section 3806.1, agency shall include the information and documentation Ji i
<br /> of this Article, by which a governmental entity proposes relied upon in calculating the amount of the proposed
<br /> to make specific, identified future revenue available to Financial Assurance and indicate to the Director that the
<br /> perform reclamation pursuant to the approved reclamation Financial Assurance Amount is adequate for the lead
<br /> plan. agency or the Department of Conservation to conduct and
<br /> NOTE: Authority cited: Section 2755, Public Resources complete reclamation on the mined lands in accordance
<br /> Code. Reference: Sections 2728-2734, Public Resources with the approved have 45 days, upon receipt,reclamation tDirector
<br /> tprrepare writtn comm comments
<br /> Code.
<br /> § 3803. Financial Assurance Mechanisms. As regarding the proposed Financial Assurance, if he/she so
<br /> outlined by this article, financial assurances may take the chooses.
<br /> form of any one or a combination of the following, which NOTE: Authority cited: Section 2774, Public Resources
<br /> the lead agency, upon review by the Department of Code. Reference: Section 2774(c), 1d), Public Resources
<br /> Conservation, reasonably determines are adequate to Code.
<br /> perform reclamation in accordance with the approved § 3806. Surface mining operations owned and
<br /> reclamation plan. operated by state or local governmental entities.
<br /> (a) For non-governmental entity operators: In addition to the mechanisms provided in Public
<br /> (1) Surety bonds; Resources Section 2773.1 and this article, a financial
<br /> (2) Irrevocable letters of credit; and assurance mechanism for reclamation for a surface mining r
<br /> (3) Trust funds; operation owned and operated by the state, county, city,
<br /> (b) For governmental entity operators: district,or other political subdivision may be in the form of
<br /> (1) Surety bonds; a'
<br /> (2) Irrevocable letters of credit; (a} Pledge of Revenue; or
<br /> (31 Trust funds; (b) Budget Set Aside.
<br /> (4) Pledges of Revenue; or These financial assurance mechanisms may only be
<br /> (5) Budget Set Aside. used by the state, county, city, district, or other political
<br /> NOTE: Authority cited: Section 2773.1, Public Resources subdivision.
<br /> Code. Reference: Section 2773.1(e), Public Resources NOTE: Authority cited: Section 2773.1, Public Resources
<br /> Code. Code. Reference: Section 2773.11e}, Public Resources ti `
<br /> § 3804. Calculation of Financial Assurance Amount. Code.
<br /> (a) The Financial Assurance Amount shall be § 3806.1. Pledge of Revenue.
<br /> calculated as prescribed in Public Resources Code Section (a) A pledge of revenue shall consist of a resolution or
<br /> 2773.1 and based on: other appropriate document from the governing body of
<br /> 111 an analysis of the physical activities and materials the state, county, city, district, or other political
<br /> necessary to implement the approved reclamation plan; subdivision responsible for reclamation of the mined lands
<br /> (2) the lead agency's unit costs, or costs for third pursuant to the approved reclamation plans. The
<br /> party contracting, for each of these activities, if resolution or document shall remain effective continuously
<br /> applicable; throughout the period in which the pledge of revenue is
<br /> 13) the number of units of each of these activities, if used to satisfy the requirements of Section 2773.1,Public
<br /> applicable; Resources Code.
<br /> (4) a contingency amount not to exceed 10% of the (b) The pledge of revenue shall contain the following
<br /> reclamation costs. items:
<br /> edge
<br /> (b)The calculated amount should not include the cost (1)The resolution or document establishing the pl
<br /> of completing mining of the site. of revenue;
<br /> (c) In order for the lead agency or the Department of (2) The types and sources of pledged revenue;
<br /> Conservation to determine what annual adjustments, if (3) The period of time that each source of revenue is
<br /> any, are appropriate to the Financial Assurance Amount, pledged to be available;
<br /> the operator shall annually submit to the lead agency a (4)The calculation amount of the financial assurance
<br /> revision of the written calculation required under Section prepared pursuant to Section 3804; and
<br /> 38O4(a).
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