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0 0 <br />Agenda Item - <br />Permitting and Enforcement Committee <br />8 <br />January 15, 1998 <br />government requested substitution of the LGFT for an existing closure account, the IWMB <br />would have to authorize release of the closure monies, as specified in regulation. If the local <br />government failed the test in subsequent years, the local government would be faced with <br />having to re -deposit monies to a closure fund. In a worst case scenario, an operator could have <br />re -directed the closure funds, and in addition to jeopardizing the financial assurance for closure, <br />no longer have the funds to re -deposit. If the operator could not provide an acceptable <br />adequately funded mechanism, the IWMB would have to take enforcement action. <br />Fiscal Impacts: <br />No overall significant fiscal effect, since the new financial assurance mechanisms will be <br />substituted for existing mechanisms for local governments. <br />I. ATTACHMENTS <br />1. Local Government Financial Test and Local Government Guarantee Regulations <br />2. Comment and Response from 45 day Comment Period <br />3. Resolution # 98 - 15 <br />• <br />,,Phone: X4W'k <br />Reviewed By: Garth Adams Phone: X 0904 <br />Reviewed By: Bernie Vlach Phone: X 2331 <br />Reviewed By: Phone: -3,243.1 <br />Legal Review: Date/Time: <br />