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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 />