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10:1'27/93 07: 12 UST N%„cgNUP FUND 4 2094637106 N0.437 D02 <br /> s <br /> 4 . Must have been an unauthorized release of petroleum discovered <br /> and reported. <br /> I assume that if contamination is discovered, it will be <br /> reported to the local agency. If contamination was discovered <br /> earlier and no cleanup was initiated, claim may be ineligible . <br /> 5 . Must be in compliance with any applicable financial <br /> responsibility requirements . <br /> Federal and state law requires that the owners and operators <br /> of underground storage tanks show through insurance coverage <br /> or other acceptable financial mechanism that they can pay for <br /> cleanup and third-party damages resulting from leaks that may <br /> occur. The requirements are being phased in. As of December <br /> 31, 1993 , all petroleum UST owners or operators (except Local <br /> Government entities) must demonstrate financial <br /> responsibility, <br /> Since the property owner is not a petroleum marketer, I assume <br /> that the December 31, :1993 would apply. if the tanks are <br /> removed prior to that date, the requirement does not apply, <br /> 6 . Must be in compliance with tank laws. <br /> This is an area that will need some review. if there are <br /> tanks and they were properly decommissioned (inlet piping <br /> removed, emptied, filled with inert material, etc. ) so they <br /> could not have input, they most likely were not subject to the <br /> tanks laws when they went into effect in 1984 . What is <br /> missing in the story is the status of the tanks, whether they <br /> were known to exist or not, etc . <br /> 7 . Must be in compliance with regulatory agency orders and <br /> directives . <br /> I assume that there are no cleanup orders, yet . <br /> 8 . The law prohibits the ownership or operation of an underground <br /> storage tank used for the storage of hazardous substances unless a <br /> local agency issues a permit for its operation pursuant to Section <br /> 25284 of the H&SC. <br /> I assume that these tanks if they exist are not permitted. <br /> Whether we can waive this requirement depends upon the <br /> circumstances regarding the tanks . <br /> AB 1061 recently signed ay the governor on 9/22/93 authorizes <br /> the Board to waive the permit requirement on application filed <br /> after 1/1/94 under certain conditions . If is waived, the <br /> deductible increases from $10 , 000 to $20 , 000 for the non- <br /> compliance . <br />