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PERMFILE41155
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PERMFILE41155
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Entry Properties
Last modified
8/24/2016 10:43:55 PM
Creation date
11/20/2007 10:39:18 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
M2001097
IBM Index Class Name
Permit File
Doc Date
6/10/2002
Doc Name
Decision Letter
From
DMG
To
The Fort Lyon Canal Company
Media Type
D
Archive
No
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TATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Department of Natural Resources <br />1313 Sherman 8t., Room 215 <br />Denver, Colorado 80203 <br />Phone: (3031 866-3567 <br />fAX: (303) 832-8106 <br />Instructions for Certficate of Deposit <br />Minerals Program <br />Minera[ Mining, Mineral Exploration and Mineral Prospecting Operations <br />Public Funds Account <br />DIVISION OF <br />MINERALS <br />GEOLOGY <br />RECLAMATION <br />MIN fNG•SA FETY <br />ail I Owens <br />Govermr <br />A certificate of Deposit (CD) is a type of collateral bond. The permittee deposits money with a bank that provides Greg E. W alcher <br />the State widt a Certificate stating funds are available for reclamation. C.R.S. 34-32-117 and C.R.S. 34-32.5-I 17 Executive Director <br />addresses Financial Warranties. The followin items should be met: Michael e. tang <br />g Division Director <br />1. The Certificate of Deposit shall be set up as a Public Fends Account (this must be stated on the CD and on the signature <br />card). The Division's PDPA number must be shown on the CD and an the signature cazd The Division's PDPA number <br />is 010004005101. <br />2. The CD must be issued by a PDPA eligible Colorado Bank, this is due to the PDPA requirements. <br />3. CD's must be assigned to the State of Colorado/Mined Land Reclamation Boazd. The bank issuing the certificate must <br />use the Division's address (1313 Sherman St, Rm 215, Denier, CO 80203); and phone number ((303) 866-3567) on the <br />ce~cate and also on the books of the bank. <br />4. The CD mast be issued on an automatically renewable term. This must be stated on the CD document. <br />5. The oriv_inal certificate is provided to the Division of Minerals and Geology, 1313 Sherman St., Rm 215, Denver, <br />Colorado 80203 for safekeeping at the State Treasurer's office. <br />6. The Tax ID or Social Security number on the CD must be the operator's. The interest may not accrae against the principal, <br />but should be paid out to the operator. The operator mast sign the Taxpayer Identification area on the signature card or <br />sheet verifying the Tax ID number before sending the signature sheeUcazd to the Division for signature. <br />7. The only approved endorsement signature on the CD is the Division Director's. A blank signature card must be sent to the <br />Division of Minerals and Geology, and the Division of Minerals and Geology will return it to the bank wiUt the Director's <br />signature. <br />8. The bank is re aired to place a lock or hold on the account, until such time as the funds are released by the Division <br />Director. The bank must provide proof of such lock or hold to the Division. <br />9. Aa Assignment of Certificate ofl7eposit form must be executed in the presence of a notary with a copy provided io the <br />bank to allow only the Colorado Mined Land Reclamation Board access iQ these funds until the I?ivision Director releases <br />the funds back to the Operator. <br />10. The operator must submit an executed "Financial Warranty/Certificate of Deposit" form in support of the Certificate of <br />Deposit being submitted as a bond for a mining operation, or they must submit ffi executed "One-Site Prospecting Bond" <br />form or a "Statewide Prospecting Bond" form in support of the Certificate of Deposit being submited as a bond for Mineral <br />Exploration or Mineral Prospecting. <br />If you have ~ questions regazding the issuance of the CD, please contact the Division at (303) 866-3567. <br />M:~min~shareUwndfmmslCD Instrodioas.doc <br />
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