OAR 345-022-0050: Retirement and Financial Assurance

(1) To issue a site certificate, the Council must find that: (a) The site, taking into account mitigation, can be restored adequately to a useful, non-hazardous condition following permanent cessation of construction or operation of the facility. (b) The applicant has a reasonable likelihood of obtaining a bond or letter of credit in a form and amount satisfactory to the Council to restore the site to a useful, non- hazardous condition. (2) To assist the Council in determining whether the standard outlined in (1)(a) has been met, the Applicant must submit information about site restoration, providing evidence to support a finding by the Council as required by this rule. The applicant must include: (a) The estimated useful life of the proposed facility; (b) Specific actions and tasks to restore the site to a useful, non-hazardous condition; (c) An estimate, in current dollars, of the total and unit costs of restoring the site to a useful, non-hazardous condition; (d) A discussion and justification of the methods and assumptions used to estimate site restoration costs; and (e) For facilities that might produce site contamination by hazardous materials, a proposed monitoring plan, such as periodic environmental site assessment and reporting, or an explanation why a monitoring plan is unnecessary. (3) To assist the Council in determining whether the standard outlined in (1)(b) has been met, the Applicant must submit: (a) Information about the applicant’s financial capability. Nothing in this rule requires the disclosure of information or records protected from public disclosure by any provision of state or federal law. The applicant must include: (A) An opinion or opinions from legal counsel stating that, to counsel's best knowledge, the applicant has the legal authority to construct and operate the facility without violating its bond indenture provisions, articles of incorporation, common stock covenants, or similar agreements; (B) The type and amount of the applicant’s proposed bond or letter of credit to restore the site to a useful, non-hazardous condition; and (C) Evidence that the applicant has a reasonable likelihood of obtaining the proposed bond or letter of credit in the amount proposed in paragraph (B), before beginning construction of the facility. (b) A materials analysis, including: (A) An inventory of substantial quantities of industrial materials flowing into and out of the proposed facility during construction and operation; (B) The applicant's plans to manage hazardous substances during construction and operation, including measures to prevent and contain spills; and (C) The applicant's plans to manage non-hazardous waste materials during construction and operation.