New Mexico Administrative Code › Title 20 - ENVIRONMENTAL PROTECTION › Chapter 5 - PETROLEUM STORAGE TANKS › Part 117 - FINANCIAL RESPONSIBILITY › Section 20.5.117.1767 - FORM DOCUMENT FOR LOCAL GOVERNMENT FUND

Current through Register Vol. 35, No. 13, July 16, 2024
To demonstrate that it meets the requirements of the local
				  government fund, as specified in 20.5.117.1717 NMAC, the chief financial
				  officer of the local government owner or operator and/or guarantor shall sign a
				  letter worded exactly as follows, except that the instructions in brackets are
				  to be replaced by the relevant information and the brackets deleted:
LETTER FROM CHIEF FINANCIAL
								OFFICER
I am the chief financial officer of [insert: name
								and address of local government owner or operator, or guarantor]. This letter
								is in support of the use of the local government fund mechanism to demonstrate
								financial responsibility for [insert: "taking corrective action" and/or
								"compensating third parties for bodily injury and property damage"] caused by
								[insert: "sudden accidental releases" or "non-sudden accidental releases" or
								"accidental releases"] in the amount of at least [insert: dollar amount] per
								occurrence and [insert: dollar amount] annual aggregate arising from operating
								an underground storage tank(s) and at least [insert: dollar amount] per
								occurrence and [insert: dollar amount] annual aggregate arising from operating
								(an) above ground storage tank(s).
Storage tanks at the following facilities are
								assured by this local government fund mechanism: [List for each facility: the
								name and address of the facility where tanks are assured by the local
								government fund].
[Insert: "The local government fund is funded for
								the full amount of coverage required under 20.5.117.1703 New Mexico
								Administrative Code (NMAC) or funded for part of the required amount of
								coverage and used in combination with other mechanism(s) that provide the
								remaining coverage." or "The local government fund is funded for five times the
								full amount of coverage required under 20.5.117.1703 New Mexico Administrative
								Code (NMAC) or funded for part of the required amount of coverage and used in
								combination with other mechanisms(s) that provide the remaining coverage," or
								"A payment is made to the fund once every year for seven years until the fund
								is fully-funded and [name of local government owner or operator] has available
								bonding authority, approved through voter referendum, of an amount equal to the
								difference between the required amount of coverage and the amount held in the
								dedicated fund" or "A payment is made to the fund once every year for seven
								years until the fund is fully-funded and I have attached a letter signed by the
								State Attorney General stating that (1) the use of the bonding authority will
								not increase the local government's debt beyond the legal debt ceilings
								established by the relevant state laws and (2) that prior voter approval is not
								necessary before use of the bonding authority"].
The details of the local government fund are as
								follows:
Amount in Fund (market value of fund of close of
								last fiscal year): _______________
[If fund balance is incrementally funded as
								specified in Subsection C of 20.5.117.1717 NMAC, insert:
Amount added to fund in the most recently completed
								fiscal year:
Number of years remaining in the pay-in period:
A copy of the state constitutional provision, or
								local government statute, charter, ordinance or order dedicating the fund is
								attached.
I hereby certify that the wording of this letter is
								identical to the wording specified in 20.5.117.1767 NMAC, as such regulations
								were constituted on the date shown immediately below.
[Signature]
[Name]
[Title]
[Date]