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III IIIIIIIIIIIII III <br />999 <br />STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Depa rlment of Nawral Resources <br />1313 Sherman 51., Room 215 <br />Denver, Colorado 80203 <br />Phone: (3071 866-1567 M E M O R A N D U M <br />FAX (303) 8328106 <br />TO: Larry Routten, Susan Burgmaier <br />FROM: Susan McCannon ~~~',.t1~~ <br />RE: P & M Bond ~ 'lY~.~.Q~ <br />DATE: October 25, 1994 <br />~~ <br />DEPARTMEFYi' OF <br />NATURAL <br />RESOURCE <br />Roy Romer <br />Governor <br />lames 5. lochhead <br />Executive Director <br />Michael B. LonX <br />Division Direclur <br />Today I received a phone call from Brian Gontarek. He indicated <br />that they are in the middle of re-calculating their bond.as part of <br />their mid-term review. He indicated that he thought that their <br />overall bond amount would be less after this recalculatiotF than it <br />is currently and_that they were, therefore, looking at. adjusting <br />their bond down-ward. The reasons for this, according to Brian, <br />are because the amount of highwall that needs to be reclaimed is <br />less and that perhaps some labor costs or other methodology costs <br />of reclamation had gone down. He indicated that Susan had told him <br />that a bond adjustment downward would need to be treated as a bond <br />release. He does not agree with this and cited the language, <br />presumably in Rule 3, about ". bond amount shall be adjusted <br />for good cause " <br />We need to talk about this when you guys get back. I told Brian <br />that I would look into the matter and get back to him. He did not <br />indicate that his time-frame was pressing. <br />