444.830. Phase I reclamation bond to be filed, when--adjustment of amount of bond and terms, by commission, when.
Phase I reclamation bond to be filed, when--adjustment of amount ofbond and terms, by commission, when.
444.830. 1. After a surface coal mining and reclamationpermit application has been approved, but before such a permit isissued, the applicant shall file with the commission, on a formprescribed and furnished by the commission, a phase I reclamationbond pursuant to section 444.950 for performance payable to thestate, and conditional upon the faithful performance of all therequirements of this law and rules and regulations, and thepermit and reclamation plan. As succeeding increments of surfacecoal mining and reclamation operations are to be initiated andconducted within the permit area, the permittee shall file withthe regulatory authority an additional phase I reclamation bondor bonds to cover such increments in accordance with thissection. The amount of the phase I reclamation bond and coalmine land reclamation fund shall be sufficient to assure thecompletion of the reclamation plan if the work had to beperformed by the commission in the event of forfeiture, and in nocase shall the bond for the entire area under one permit be lessthan ten thousand dollars.
2. Liability under the bond shall be for the duration ofthe surface coal mining and reclamation operation and for aperiod coincident with operator's responsibility for revegetationrequirements in section 444.855. The bond shall be executed bythe operator and a corporate surety licensed to do business inthe state, except that the operator may elect to deposit cash,irrevocable letters of credit, negotiable bonds of the UnitedStates government or of the state of Missouri, or negotiablecertificates of deposit of any bank organized or transactingbusiness in the United States. The cash deposit or market valueof such securities shall be equal to or greater than the amountof the bond required for the bonded area.
3. The commission may accept the bond of the applicanthimself without the separate surety provided for in subsection 2of this section when the applicant demonstrates to thesatisfaction of the commission the existence of a suitable agentto receive service of process and a history of financial solvencyand continuous operation sufficient for authorization toself-insure or bond such amount or, in lieu of the establishmentof a bonding program as set forth in this section, the commissionmay adopt an alternative system that will achieve the objectivesand purposes of the bonding program pursuant to this section, andwhich is consistent with or pursuant to the purposes of P.L.95-87, the Surface Mining Control and Reclamation Act.
4. The amount of the bond and the terms of each acceptanceof the applicant's bond shall be adjusted by the commission fromtime to time as affected land acreages are increased or decreasedor where the cost of future reclamation changes.
(L. 1979 H.B. 459, A.L. 1982 S.B. 737, A.L. 1988 H.B. 1836, A.L. 1993 H.B. 312 & 257)