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CONCLUSIONS OF LAW <br />12. The Board has jurisdiction over this matter pursuant to §§ 34-32.5-104, 105, <br />123 and 124 of the Colorado Mined Land Reclamation Act for the Extraction of Construction <br />Materials, § 34-32.5-101 et seq. C.R.S. (2009) ("Act"). <br />13. Rule 4.1(2) of the Mineral Rules and Regulations of the Colorado Mined Land <br />Reclamation Board for the Extraction of Construction Materials ("Construction Rules") <br />requires operators to submit financial warranties within one calendar year of an application <br />approval. If financial warranties are not submitted within that calendar year, the Board must <br />hold a hearing to reconsider the previous approval. Here, the Operator's conversion <br />application was approved in January 2007. The Operator did not submit the financial <br />warranties within one calendar year of the January 2007 approval. Therefore, the Board is <br />required to reconsider the Division's approval of the conversion application. <br />14. Based on the Operator's posting of the required financial warranty and also on <br />the Division's recommendation, it is appropriate for the Board to re-approve the Operator's <br />conversion application for the Jesse Lee pit. <br />ORDER <br />Based on the foregoing findings of fact and conclusions of law, the Board hereby <br />approves the 112c construction conversion application CN-01. <br />DONE AND ORDERED this l I day of 32010. -Felnm FOR THE COLORADO MINED LAND RFf T eA4ATION BOARD <br /> <br />Teterson, Chair <br />Land Reclamation Board <br />Pelino Inc. <br />Reconsideration of Previous Division Approval <br />M-1984-043