7 Del. Admin. Code § 1352-D-31.0
Letter from Chief Financial Officer
I am the Chief Financial Officer of [insert: name and address of Local Government Owner or Operator, or Guarantor]. This letter is in support of the use of the bond rating test to demonstrate financial responsibility for [insert: "taking Corrective Action" and/or "compensating third parties for Bodily Injury and Property Damage"] caused by [insert: "sudden Accidental Releases" and/or "nonsudden Accidental Releases"] in the amount of at least [insert: dollar amount] per Occurrence and [insert: dollar amount] Annual Aggregate arising from operating (an) aboveground storage tank(s) (ASTs). This Local Government is not organized to provide general governmental services and does not have the legal authority under state law or constitutional provisions to issue general obligation debt.
ASTs at the following facilities are assured by this bond rating test:
List for each Facility: the name and address of the Facility where ASTs assured by this Bond Rating Test are located, and indicate which ASTs are assured by this Bond Rating Test. List each AST by the AST identification number provided in the registration form submitted pursuant to Part A of this regulation.
AST Facility I.D. Number: ____________________ (as listed on DNREC registration certificate)
Facility Name: ______________________________________________________________
Facility Street: ______________________________________________________________
Facility City: _____________________________________ Facility Zip Code: ____________
The details of the issue date, maturity, outstanding amount, bond rating, and bond rating agency of all outstanding bond issues that are being used by [name of Local Government Owner or Operator, or Guarantor] to demonstrate financial responsibility are as follows: [complete table]
*Moody's or Standard & Poor's
The total outstanding obligation of [insert amount], excluding refunded bond issues, exceeds the minimum amount required in PART D, Section 3.0. All outstanding general obligation bonds issued by this government that have been rated by Moody's or Standard & Poor's are rated as at least investment grade (Moody's Baa or Standard & Poor's BBB) based on the most recent ratings published within the last 12 months. Neither rating service has provided notification within the last 12 months of downgrading of bond ratings below investment grade or of withdrawal of bond rating other than for repayment of outstanding bond issues.
I hereby certify that the wording of this letter is identical to the wording specified in PART D, Section 31.0, Form K of the Delaware Regulations Governing Aboveground Storage Tanks as such Regulations were constituted on the date shown immediately below.
Signature: _______________________________________________________________
Name: __________________________________________________________________
Print legibly or type
Title: ____________________________________________________________________
Print legibly or type
Date: _____________________________________________________________________
7 Del. Admin. Code § 1352-D-31.0
27 DE Reg. 536 (1/1/2024) (Final)