Section R315-309-2 - General Requirements(1) A financial assurance plan, including the assurance mechanism proposed for use, shall be submitted: (a) for new facilities, upon initial permit application; and(b) for existing facilities, to meet the effective dates specified in Subsection R315-309-1(3).(2) The financial assurance shall be updated each year as part of the annual report required by Subsection R315-302-2(4) to adjust for inflation or facility modification that would affect closure or post-closure care costs. The annual update of the financial assurance shall be reviewed and must be approved by the Director prior to implementation.(3) Financial assurance cost estimates shall be based on a third party preforming closure or post- closure care. (a) The closure cost estimate shall be based on the most expensive cost to close the largest area of the disposal facility ever requiring a final cover at any time during the active life in accordance with the closure plan and at a minimum must contain the following elements if applicable: (i) the cost of obtaining, moving, and placing the cover material;(ii) the cost of final grading of the cover material;(iii) the cost of moving and placing topsoil on the final cover;(iv) the cost of fertilizing, seeding, and mulching or other approved method; and(v) the cost of removing any stored items or materials, buildings, equipment, or other items or materials not needed at the closed facility.(b) The post-closure care cost estimate shall be based on the most expensive cost of completing the post-closure care reasonably expected during the post-closure care period and must contain the following elements: (i) ground water monitoring, if required, including number of monitor wells, parameters to be monitored, frequency of sampling, and cost per sampling;(ii) leachate monitoring and treatment if necessary;(iii) gas monitoring and control if required; and(iv) cover stabilization which will include an estimate of the area and cost for expected annual work to repair residual settlement, control erosion, or reseed.(4) Any facility for which financial assurance is required for post-closure care must have a financial assurance mechanism, which will cover the costs of post-closure care, in effect and active until the Director determines that the post-closure care is complete.(5) Financial assurance for corrective action shall be required only in cases of known releases of contaminants from a facility and shall be a current cost estimate for corrective action based on the most expensive cost of a third party performing the corrective action that may be required.Utah Admin. Code R315-309-2