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<br />5. On June 8, 1995, the Division received an appeal from <br />NCIG Financial, Inc. ("NCIG") regarding the proposed decision to <br />deny the Phase I bond release. NCIG requested that the Board <br />modify the Division's decision to deny the bond release application <br />in whole and grant a partial bond release, retaining bond for the <br />incomplete tasks. <br />6. NCIG submitted a revision (TR-12) to the permit to <br />address the outstanding issues listed in item #4 above. The <br />revision adequately addressed the outstanding reclamation issues <br />and was approved by the Division on September 26, 1995. <br />7. On October 17, 1995, the Board held an adjudicatory <br />hearing on this matter in accordance with Rule 3.03.2(6). Matters <br />that needed to be addressed in a technical revision have been <br />addressed, and the technical revision has been approved. The <br />Division estimates that $10,806 is the applicable reclamation cost <br />for the remaining tasks. <br />CONCLIISIONS OF LAW <br />1. NCIG Financial, Inc. has applied for bond release in <br />accordance with Rule 3.03.2. <br />2. The Division has conducted its review of the Bond Release <br />application and the subsequent technical revision. <br />3. NCIG has met the necessary demonstrations and is, <br />therefore, entitled to a partial Phase I bond release. <br />ORDER <br />Based on the above Findings of Fact and Conclusions of Law, <br />the Board hereby orders that the Division's proposed decision to <br />deny the Phase I bond release application be modified, and a <br />partial Phase I bond release of $161,994 be granted. The Division <br />shall continue to hold $126,006 as reclamation bond for the Coal <br />Ridge No. 1 Mine. <br />Dated the ~L day of October, 1995. <br />COLORADO MINED LAND RECLAMATION BOARD <br />DEPARTMENT OF NATURAL RESOURCES <br />__ 1~ <br />Ct airman <br />, James ooley <br />