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CIWMB Government Guarantee. <br />22249.5. <br />(a) The guarantor shall be a local government which meets the <br />requirements -of the Local Government Financiai Test under section <br />222-4-9 of this Artic e Eased on the uarantor s au 1te ear -end <br />Y—inancial statements. <br />(b) The <br />form CIWMB <br />arantee shall be worded and completed as specified <br />which—is incorporated by reference. <br />(c) When the guarantee specifies coverage for postclosure <br />maintenance costs, the terms shall a so specs y: <br />(1) If the operator fails to perform postclosure maintenance <br />in accordance with the applicable approved posts osure maintenance <br />an when required to do so, the guarantor shall either: <br />(A) Perform, or pay a third party to perform, postclosure <br />maintenance in accordance with the applicable approved postclosure <br />maintenance plan; or <br />(B) Establish and fund a trust fund as specified in section <br />22240 of this Article, in t e name ot the operator in the amount of <br />the applicable current postclosure maintenance cost estimate <br />covered by the guarantee; and/or <br />(d) When the guarantee s ecifies coverage for corrective <br />action costs, the terms shaii also specify: <br />(1) If the operator fails to perform corrective action in <br />accordance with the44� <br />icable approved corrective action plan when <br />required to do so, guarantor shall either: <br />(A) Perform, or pay a third party to perform, corrective <br />actionin accordance with t e a licab e approved corrective action <br />plan; or <br />(B) Establish and fund a trust fundus specified in section <br />22240 of this Article, in the name of the operator in the amount of <br />the applicable current corrective action cost estimate coverea ny <br />the guarantee; and/or <br />(e) The guarantee will remain in force unless the guarantor <br />fails to meet the requirements of section22-2-4-9—and/or 4 o <br />this Article, or wishes to terminate t e guarantee. Cancellation <br />may not occur, however; it e l s a be ronin on the ate <br />of -receipt o the notice o cancel ation y of t o operator an <br />the CIWMB, as evidenced by return receipts. <br />(1) The guarantor shall send a notice of cancellation by <br />certified mail to the o2erator, and the CIWMB, within 1 ays <br />after the end of that financialrepor it ng year. The guarantee <br />M <br />10 <br />• <br />• <br />