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financial warranty in good standing for the life of the permit. The Division's letter <br /> provided notice regarding the alleged violations and information about the <br /> November 12, 2025 hearing. <br /> 6. At the hearing, the Division presented testimony regarding its efforts <br /> to confirm renewal of the letter of credit with the bank and the bank's delays in <br /> doing so. As of the date of the hearing before the Board, the bank had not provided <br /> verification of the financial warranty and the Operator had not remedied the issue. <br /> 7. The Operator also provided testimony regarding its efforts to obtain <br /> confirmation from the bank that the letter of credit would not be cancelled. <br /> According to the Operator, the bank has confirmed that the notice of non-renewal <br /> was issued in error and that a letter confirming that the letter of credit will remain <br /> valid after December 31, 2025, should be issued by the bank. The Operator will <br /> continue working with the bank to obtain timely confirmation that the letter of <br /> credit will remain valid. <br /> CONCLUSIONS OF LAW <br /> 8. The Board has jurisdiction over this matter pursuant to the Act. <br /> 9. Under section 34-32.5-117(6)(a) and Rule 4.1(7), every operator must <br /> maintain a financial warranty in good standing for the entire life of a permit. The <br /> Operator failed to maintain a financial warranty for the life of permit number M- <br /> 2013-066 in violation of section 34-32.5-117(6)(a), C.R.S., and Rule 4.1(7). <br /> 10. The Board may find a financial warranty subject to forfeiture where <br /> an Operator failed to cure a default under a performance warranty despite <br /> written notice of the default and ample time to cure such default. § 34-32.5- <br /> 118(1)(b), C.R.S. (2025). Operator's violation of provisions of the Act by failing to <br /> maintain a financial warranty in good standing as required by section 34-32.5- <br /> 117 and the permit constitute Operator's default under its performance <br /> warranty. Operator defaulted on its performance warranty, received written <br /> notice of the default, and failed to cure such default, and the financial warranty <br /> is subject to forfeiture. <br /> 11. The Board may issue a cease-and-desist order when it determines that <br /> a provision of the Act has been violated. § 34-32.5-124(2), C.R.S. (2025). The <br /> Operator violated section 34-32.5-117(6)(a), C.R.S. <br /> 12. The Board may impose a civil penalty of not less than $100 per day nor <br /> more than $1,000 per day for each day during which a violation occurs. § 34-32.5- <br /> 124(7), C.R.S. (2024). Here, the Board may impose a penalty based on 34 days of <br /> violation for a civil penalty of$3,400 to $34,000. <br /> Arboles Sand & Stone, LLC. <br /> M-2013-066 <br /> MV-2025-016 2 <br />