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<br />-2- <br />On April 16, 1990, the Division received a certified letter from the <br />Federal Deposit Insurance Corporation (FDIC) (Ex. F) stating that on July <br />20, 1989, the Texas American Bank of Ft. Worth was closed and FDIC was <br />appointed as receiver. <br />Asa result, the Division has deemed Pueblo Coal to be without required <br />performance bond coverage and issued NOV C-90-012 on May 3, 1990. The <br />NOV and associated cover letter are designated Exhibit G and H <br />respectively. If Pueblo Coal is unable to secure an acceptable <br />replacement bond by June 1, 1990, the Division intends to initiate Bond <br />Forfeiture Proceedings. Until an acceptable performance bond is in <br />place, the Division recommends against approval of any further requests <br />for extension of the permit renewal review period. <br />C. Question and Answer, Slides if Board Desire - General Overview of <br />Operation <br />If the Board desires, I would be happy to provide a brief summary of the <br />Carbon Junction operation and the issues of concern raised during the <br />Permit Renewal Review. This information is set forth in the November 2, <br />1989, permit renewal decision document, Exhibit f,. <br />