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<br />~II ~I~~I~~I~~~~I ~I~ <br />sss <br />BEFORE THE MINED LAND RECLAMATION BOARD <br />DEPARTMENT OF NATURAL RESOURCES <br />STATE OF COLORADO <br /> <br />~' ~~~ <br />------------------------------------------------ <br />DIVISION'S PROPOSED PENALTY <br />------------------------------------------------ <br /> <br />ERNEST R. DAKOLIOS, WANDA E. DAKOLIOS and <br />DAKOLIOS CONSTRUCTION CO., INC. <br />----------------------------------------------------- -------- <br />The Division r e <br />a accPCC a r'p'1 ^~~ based on the economic be efit <br />realized by the operators. <br />,~ Oa a ~.Q~ (~'t7~v ' <br />1. The site was permitted on A ril 30, 198 ddittkona,1 ~~~ <br />bond wa submit ed QcGobey 4, 199 'I.~ ~ SeeC <br />`~G t 9v~ q wx~ W~nl W~u~.9 u-e~.n,t~ ~b~n ~' ~u•pE~-~ • P,oun"~d <br />2. The permit required the operators to conduc <br />~y(!Qxti. of affected areas , <br />The permit also limited the tot 1 <br />unreclaimed area of disturbance at the site at any on time. In <br />light of these provisions, the financial warranty was set at <br />$17,550.00. <br />3. The operators failed to comply with the pro isions of <br />the permit and created a reclamation liabilit}~o~$ 5 ,250.00. <br />'~tcn ek'~.~k~o~ ~; 'K.tw lkmQ9d &-' <br />4. The operators realized an economic bene it qual to the <br />cost of securing a performance warranty for an additi nal <br />~ $134,700.00, the unbonded portion of the reclamation iability. <br /><~ ~` <br />5. The cost of obtaining a financial warranty rom a cor- <br />porate surety is $12.50 per year per thousand dollars of recla- <br />mation liability. <br />6. It follows that the operators benefited by <br />cost of obtaining coverage from a surety company for <br />tional $134,700.00 for seven years, five months. The <br />the economic benefit can be calculated by multiplying <br />12.5 times 7.4166. The product of such calculation i <br />$12,487.81. <br />awing the <br />he addi- <br />amount of <br />134.7 times <br />