Section 312 IAC 25-5-9 - Adjustment of amountAuthority: IC 14-34-2-1
Affected: IC 14-34-3; IC 14-34-6; IC 14-34-9; IC 14-34-10
Sec. 9.
(a) The amount of bond or deposit required and the terms of each acceptance of the applicant's bonds shall be adjusted by the director from time to time as affected land acreages are increased or decreased or where the cost of future reclamation changes. The director shall notify the permittee, the surety, and any other person with a property interest in collateral of any proposed bond adjustment, and provide the permittee an opportunity for an informal conference on the adjustment. Bond adjustments are not subject to procedures of bond release under section 16 of this rule.(b) A permittee may request reduction of the amount of performance bond upon submission of evidence to the director proving that the permittee's method of operation or other circumstances will reduce the estimated cost to the director to reclaim the area bonded. This reduction of bond shall be deemed a bond adjustment.(c) In the event that an approved operations and reclamation plan is modified in accordance with this rule, the director will review the bond for adequacy and, if necessary, will adjust the bond to conform to the operations and reclamation plan as modified. Natural Resources Commission; 312 IAC 25-5-9; filed Jun 21, 2001, 2:53 p.m.: 24 IR 3504, eff Dec 1, 2001; readopted filed May 29, 2007, 9:51 a.m.: 20070613-IR-312070146RFA; readopted filed Sep 19, 2013, 10:12 a.m.: 20131016-IR-312130125RFAReadopted filed 3/26/2019, 3:40 p.m.: 20190424-IR-312190011RFA