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~_ <br />PORTIU?J CF 'llff: AFFI:CTI:ll LANIIj TO BE llISTURBI:U ANI) "Illf: E.CTI:M' OF <br />~ SU(71 UISTURBM~CE AT ANY ONE TIDE llURING 11~ VARIOUS 51'AGES OF TfRi <br />~ DIINING OPERATION. <br />=~ (b) In determining WIIE~}(CR TfQ: SURETY OF AN OPL•RATOR DUST <br />Bl: GUARANTEED BY A CORPORATE SURETY BO1JD ANU IN UETERDtINING the <br />form of stirrty to be provided by flee operator if other than a <br />a bond, the board shall consider, with respect to the operator, <br />such factors as his financial status, his assets within the <br />i state, his past performance on contractual agreements, and Isis <br />{` facilities available to carry out the planned wrork. The operator <br />shall supply evidence of financial resporuibility for all surety <br />other than a bond. <br /> (2) Any surety required under this article to be filed by <br /> the operator shall be in such form as the board prescribes, <br />~ payable to the state of Colorado, nIW conditioned that the <br /> operator shall faithfully perform all rec{uirements of this <br /> article and comply with X11 rules and regulations made in <br /> acconlance with the provisions of t}~is article. Such surety <br /> shall be signed by the operator as principal and, if required, by <br />a a good and sufficient corporate surety authorized to do business <br />L in this state. Tl~e penalty of such surety shall be in such <br /> amount as the board deems necessary to insure the performance of <br /> the duties of the operator under this article with respect to the <br /> affected land, lf--a--eenntr--er--mnnieipa3itr-regnres;-in-tke <br /> epinien-ef-the-beard;-an-adequate-reeian+at:en-plan-and--a--snretr <br /> snffiesent--te--eaTry--ent--thnt--pfan;-evidence-ef-such-plan-ar~ <br /> surety-sha}}-be-aeeeptab~e-te-the-beard: In lieu of such surety, <br /> t}~e operator may deposit cash and government securities with the, <br />~ board in an amount equal to that of the required surety on <br /> conditions as prescribed in this subsection (2). In tiie <br /> discretion of the board, surety requirements ma}• also be <br /> fulfilled by using other lands, property, or existing reclaimed <br /> areas if owned by the operator in excess of cumulative acres that <br /> have been reclaimec! under the provisions of this article and <br /> approved by the board. The penalty of the surety or amount of <br /> cash and securities shall be increased or reduced from time to <br /> time as provides in this article. Such surety or security shall <br /> remain in effect until the affected land has been reclaimed, <br />I approved, and released by the board. The board shall have all <br /> powers necessary to foreclose upon all real estate provided as <br />' surety, to dispose of the real estate, and to apply the proceeds <br /> of the disposed real estate to the reclamation of lands not <br /> reclaimed by the operator who supplied t}ie real estate as surety. <br />(3) A surety shall not be cancelled by the surety without <br />giving at least sixty days' notice to the board prior to the <br />anniversary date OF Tf{E BONll of its intent to limit exposure to <br />existing circumstances. as-ef-the-next-anniversary-dater In the <br />event the surety is cancelled, the operator shall provide <br />substitute surety covering operations or post cash surety in lieu <br />1 thereof within thirty days after receipt of such notification, to <br />PAGE 2-IiCUSE BILL N0. 1377 <br />