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(1) Liquidity ratio: a ratio of cash plus marketable <br />securities to totai expenditures greater than or e ual to ; and <br />(2) Debt service ratio: a ratio of annual debt service to <br />total expenditures ess tFian or equal to"0.20; or <br />(h) Anoperator or guarantor with outstanding, rated, general <br />obligation bonds that are not secured by insurance, a ietter o <br />cre it,or other collateral or guarantee must have—siligh bonds wit <br />current investment grade rating as o ows: <br />(1) Aaa, Aa, A or Baa, as issued by Mood 's on all such <br />general ob igati.on bonds; or <br />(2) AAA, AA, A, or BBB, as issued by Standard and Poor's on <br />all such general obligation bonds. <br />(i) The operator or guarantor shall provide public notice of <br />the localgovernment's assured obligations by placinga reference <br />to the postclosure maintenance costs and/or corrective action costs <br />assured throu h the financial test into its next comprehensive <br />annual financi.a re ort (CAFR) . if timi.n oes not permit the <br />re erence to be incor orated into the most recently issued CAFR or <br />bud etprior to the first year the i.nancia test is—used to assure <br />local overnment solid waste facility obli ations, the re erence <br />may instead be placed in the operating record until issuance of the <br />next avai ab e CAFR. The o erator shall certify that the reference <br />to the postciosure maintenance costs and/or corrective action costs <br />assured through the financial test is rove ed. The operator's <br />nk <br />ceration shall be submitted with the chief f I nancial officer <br />letter as specified in section (j_L(2). <br />(1) For postclosure maintenance costs, conformance with <br />Government Accounting Standards Board (GASB) Statement Ib assures <br />compliance with this pub is notice requirement. <br />(2) The following, including the GASB requirements, shall be <br />disclosed: <br />(A) The nature anda source of requirements for those <br />obligations assured by the local government financial test <br />.including postclosure maintenance costs -and/or corrective action <br />costs; and <br />(B) Postclosure maintenance costs recognized at the balance <br />sheet date; an <br />(C) Estimated postclosure maintenance costs remainin2 to be <br />recognized; an <br />(D) Percenta e of landfill capacity used to date, as of the <br />end o:F–the latest completed fiscal year; an v" <br />7 <br />