Or. Admin. Code § 345-050-0120

Current through Register Vol. 63, No. 11, November 1, 2024

Section 345-050-0120 - Bonding and Financial Ability

(1) A person shall not locate a waste disposal facility at a site unless, if federal funding for remedial actions is not available, the applicant provides a surety bond in the name of the state in an amount determined by the Oregon Department of Energy to be sufficient to cover any costs of closing the site and monitoring it or providing for its security after closure and to secure performance of any site certificate condition.

(2) The applicant shall estimate the cost of closing the site, including the cost of the effort to comply with the site suitability requirements of OAR 345-050-0060 and the radioactive release limits of OAR 345-050-0100. To determine the cost of monitoring the site, providing for its security after closure and, in the case of a facility with a site certificate, ensuring performance of site certificate conditions, the applicant shall base the estimate on the amount of investment principal that would be required to produce proceeds sufficient to provide for the cost of quarterly visits to the plant site by state regulatory agencies for inspections and environmental sampling.

EFSC 9-1981, f. & ef. 12-28-81; EFSC 1-1999, f. & cert. ef. 3-5-99; EFSC 1-2007, f. & cert. ef. 5-15-07

Stat. Auth.: ORS 469.470

Stats. Implemented: ORS 469.375