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III. FINANCIAL RESPONSIBILITY <br /> 1. 0 INTRODUCTION <br /> An Enterprise Fund has been established to satisfy the financial <br /> mechanisms requirements under Title 14, Chapter 5, Section 3 .5, <br /> Closure/Postclosure Regulations. A copy of the County Resolutions <br /> R 88-1323 and 89-695 establishing the fund can be found on pages <br /> 27-28 of this report. In addition, sections 18283 and 18290 of the <br /> Regulations specify a Pledge of Revenue as an acceptable mechanism <br /> to demonstrate financial responsibility for financing Postclosure <br /> maintenance of a solid waste landfill. The Agreement establishing <br /> pledge of revenue as the financial mechanism is included as <br /> Appendix J. <br /> 2.0 CURRENT CLOSURE COST ESTIMATES <br /> The current cost estimates submitted with this plan indicate that <br /> capital closure cost is estimated at $1,673,879. <br /> 3.0 FINANCIAL ASSURANCE NEEDS <br /> Closure/Postclosure Regulations specify that a 20% over-run factor <br /> be added to the capital closure cost. <br /> Ah <br /> Financial Assurance Needs <br /> Capital $1, 673,879 <br /> Over-run $ 334 ,775 <br /> (20%) <br /> TOTAL $2,008,654 <br /> 24 <br />