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4. The May 17, 2017 inspection report noted two problems. First, that <br /> Operator failed to maintain the financial warranty in good standing, as the existing <br /> $6,010 financial warranty was due to expire on June 30, 2017. And, second, that <br /> the current financial warranty was inadequate to ensure completion of reclamation <br /> of the affected lands. The Division mailed the written inspection report to Operator <br /> on May 26, 2017. <br /> 5. On May 26, 2017, the Division mailed a Notice of Financial Warranty <br /> Increase letter. The Notice of Financial Warranty Increase letter stated that the <br /> financial warranty was increased by $11,170 to a total of$17,180. <br /> 6. On July 25, 2017, the increased financial warranty was due from the <br /> Operator. The Division did not receive the increased financial warranty by that <br /> date or at any time since. <br /> 7. On August 22, 2017, the Division received and accepted a replacement <br /> financial warranty in the amount of$6,010. <br /> 8. On August 28, 2017, the Division mailed a Reason to Believe a Violation <br /> Exists letter to the Operator for failure to maintain the financial warranty in good <br /> standing and failure to post the additional financial warranty within sixty days. The <br /> letter provided information about the allegations and notice of the September 27, <br /> 2017 Board hearing. <br /> CONCLUSIONS OF LAW <br /> 9. The Board has jurisdiction over this matter pursuant to the Land <br /> Reclamation Act for the Extraction of Construction Materials, Article 32.5 of Title <br /> 34, C.R.S. (2016) ("Act"). <br /> 10. Section 34-32.5-117(4)(b)(I), C.R.S. and Rule 4.2.1(1) require <br /> operators to maintain the financial warranty at a level which reflects the actual <br /> current cost of fulfilling the requirements of the reclamation plan. Operator <br /> failed to maintain the financial warranty at a level which reflects the actual <br /> current cost of fulfilling the requirements of the reclamation plan for the site. <br /> 11. By failing to maintain the financial warranty at a level which reflects <br /> the actual current cost of fulfilling the requirements of the reclamation plan, <br /> Operator is in violation of section 34-32.5-117(4)(b)(I), C.R.S. and Rule 4.2.1(1). <br /> 12. Section 34-32.5-117(4)(c)(II), C.R.S. and Rule 4.2.1(2) require <br /> operators to post additional financial warranty within sixty days from the date of <br /> written notice of adjustment from the Division. The Operator failed to submit <br /> Phillips Stone Company, Inc. <br /> M-1981-075 <br /> MV-2017-043 2 <br />