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future, and <br /> (c) Has described actions or procedures, satisfactory to <br /> the Director, that will be taken to ensure that the <br /> well will not endanger USDWs during the period of <br /> temporary abandonment. <br /> F. FINANCIAL RESPONSIBILITY <br /> 1. Demonstration of Financial Responsibility The permittee <br /> is required to maintain financial responsibility and <br /> resources to close, plug, and abandon the underground <br /> injection operation as provided in the plugging and <br /> abandonment plan. <br /> (a) The permittee shall maintain a bond rating within <br /> the four highest categories of Standard and Poor's <br /> (AAA, AA, A, or BB) or Moody's (Aaa, Aa, A, or Baa) . <br /> If the most recent bond rating does not fall.- within <br /> the four highest categories, then the permittee <br /> shall post a financial instrument such as a bond, <br /> letter of credit, or a trust fund to guarantee <br /> closure of the well. <br /> (b) The permittee must provide proof to the EPA of its <br /> bond rating or renewal every year by March 31. <br /> 2 . Insolvency of Financial Institution The permittee must <br /> submit an instrument of financial responsibility <br /> acceptable to the Director within sixty (60) days after <br /> either of the following events occur: <br /> (a) the institution issuing the bond or financial <br /> instrument files for bankruptcy; or <br /> (b) the authority of the trustee institution to act as <br /> trustee, or the authority of the institution issuing <br /> the financial instrument is suspended or revoked. <br /> Page 15 of 29 <br /> UIC Permit #CA194000002 <br />