2003-04-27_REVISION - M1977342 - Laserfiche WebLink

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Attachment to the memo, Allen Sorenson to Erica Crosby, dated 4-27-03. Following is a listing of selected Hard Rock/Metal Mining Rules that are pertinent to the consideration of water rights deeds of trust submitted by the Henderson Mine and Mill (Permit M-1977-342) on 10-21-02. Where a particular rule refers the reader to a different rule, and that different rule has been included in this summary tabulation, the rule referenced has been underlined. RULE 4: PERFORMANCE WARRANTIES AND FINANCIAL WARRANTIES 4.1 GENERAL PROVISIONS (7) Financial Warranties shall be maintained in good standing for the entire life of any permit issued under the Act and these Rules. Financial Wazrantors shall immediately notify the Board of any event which may impair their wazranties. (10) Proof of financial responsibility may be of any type and in such amount authorized herein, subject to approval by the Board or Office. 4.1.2 General Requirements -Financial Warranties (3) Any proof of financial responsibility submitted or revised on or after July 1, 1993, shall be in compliance with Paragraphs 4.2.1(1) through (7), and 4.1.2(6) and (71. (5) Each Financial Wazrantor providing proof of financial responsibility in a form described in Subsections 4.3.6, 4.3.7, 4.3.8, 4.3.9, or 4.3.10 shall annually cause to be filed with the Board or Office a certification by an independent auditor that, as of the close of the Financial Warrantor's most recent fiscal year, the Financial Wazrantor continued to meet all applicable requirements of Rule 4. Financial Warrantors who no longer meet said requirements shall comply with Section 4.14. (6) The Board or Office may by permit condition require proof of value on a periodic basis of any Warranty held by the Board. (7) The Board or Office may by permit condition limit certain types of Warranties to specific purposes only or require a designated percentage of the total Warranty be held in easily valued and convertible instruments. (8) The Board or Office may refuse to accept any type of Financial Warranty if: (b) for Deeds of Trust, First Priority Liens or Salvage Credit, the Operator has not complied with Section 4_9; or (c) the Board determines that the Financial Warranty offered cannot reasonably be converted to cash within one hundred and eighty (180) days of forfeiture. (9) Any Operator/Applicant that desires to utilize a Financial Warranty described in Subsections 4.3.6, 4.3.7, 4.3.8, 4.3.9, or 4.3.10 shall pay to the Office an Annual Fee for the reasonable and necessary cost of establishing and reviewing the Financial Warranty. (a) No costs may be chazged hereunder unless and until the Operator/Applicant signs written fee agreements with the Office. Said agreements shall be in such form as the Boazd may prescribe. Invoices pursuant to said agreements shall include a statement for services and expenses included in the total amount; (b) rates charged by the Office hereunder may not exceed prevailing rates for similar services, and shall reflect the actual cost of establishing and reviewing the Financial Warranty;