South Carolina Code of Regulations › Chapter 61 - DEPARTMENT OF HEALTH AND ENVIRONMENTAL CONTROL › Subchapter 61-79 - Hazardous Waste Management Regulations › Part 61-79.261 - IDENTIFICATION AND LISTING OF HAZARDOUS WASTE › Subpart H - FINANCIAL REQUIREMENTS FOR MANAGEMENT OF EXCLUDED HAZARDOUS SECONDARY MATERIALS › Section 61-79.261.H.151 - Wording of the instruments › Appendix E

Current through Register Vol. 48, No. 6, June 28, 2024
SOUTH CAROLINA DEPARTMENT OF HEALTH AND ENVIRONMENTAL
						CONTROL BUREAU OF LAND AND WASTE MANAGEMENT
Letter from Chief Financial Officer
Chief
Bureau of Land and Waste Management
2600 Bull Street
Columbia, SC 29201
Dear Sir or Madam: I am the chief financial officer of
						[name and address of firm]. This letter is in support of this firm's use of the
						financial test to demonstrate financial assurance, as specified in subpart H of
						R.61-79.261.
[Fill out the following nine paragraphs regarding
						facilities and associated cost estimates. If your firm has no facilities that
						belong in a particular paragraph, write "None" in the space indicated. For each
						facility, include its EPA Identification Number (if any issued), name, address,
						and current cost estimates.]
1. This firm is the owner or operator of the following
						facilities for which financial assurance is demonstrated through the financial
						test specified in subpart H of R.61-79.261. The current cost estimates covered
						by the test are shown for each facility: ____.
2. This firm guarantees, through the guarantee specified
						in subpart H of R.61-79.261, the following facilities owned or operated by the
						guaranteed party. The current cost estimates so guaranteed are shown for each
						facility: ____. The firm identified above is [insert one or more: (1) The
						direct or higher-tier parent corporation of the owner or operator; (2) owned by
						the same parent corporation as the parent corporation of the owner or operator,
						and receiving the following value in consideration of this guarantee____; or
						(3) engaged in the following substantial business relationship with the owner
						or operator ____, and receiving the following value in consideration of this
						guarantee____]. [Attach a written description of the business relationship or a
						copy of the contract establishing such relationship to this letter].
3. In states outside of South Carolina, where the
						Department is not administering the financial requirements of subpart H of
						R.61-79.261, this firm, as owner or operator or guarantor, is demonstrating
						financial assurance for the following facilities through the use of a test
						equivalent or substantially equivalent to the financial test specified in
						subpart H of R.61-79.261. The current cost estimates covered by such a test are
						shown for each facility:____.
4. This firm is the owner or operator of the following
						hazardous secondary materials management facilities for which financial
						assurance is not demonstrated either to the EPA or the Department through the
						financial test or any other financial assurance mechanism specified in subpart
						H of R.61-79.261 or equivalent or substantially equivalent state mechanisms.
						The current cost estimates not covered by such financial assurance are shown
						for each facility:____.
5. This firm is the owner or operator of the following
						UIC facilities for which financial assurance for plugging and abandonment is
						required under 40 CFR part 144 . The current closure cost estimates as required
						by
						40 CFR
						144.62 are shown for each
						facility:____.
6. This firm is the owner or operator of the following
						facilities for which financial assurance for closure or post-closure care is
						demonstrated through the financial test specified in subpart H of R.61-79.264
						and 265. The current closure and/or post-closure cost estimates covered by the
						test are shown for each facility: ____.
7. This firm guarantees, through the guarantee specified
						in subpart H of R.61-79.264 and 265, the closure or post-closure care of the
						following facilities owned or operated by the guaranteed party. The current
						cost estimates for the closure or post-closure care so guaranteed are shown for
						each facility: ____. The firm identified above is [insert one or more: (1) The
						direct or higher-tier parent corporation of the owner or operator; (2) owned by
						the same parent corporation as the parent corporation of the owner or operator,
						and receiving the following value in consideration of this guarantee ___; or
						(3) engaged in the following substantial business relationship with the owner
						or operator __, and receiving the following value in consideration of this
						guarantee __]. [Attach a written description of the business relationship or a
						copy of the contract establishing such relationship to this letter].
8. In states outside of South Carolina, where the
						Department is not administering the financial requirements of subpart H of
						R.61-79.264 or 265, this firm, as owner or operator or guarantor, is
						demonstrating financial assurance for the closure or post-closure care of the
						following facilities through the use of a test equivalent or substantially
						equivalent to the financial test specified in subpart H of R.61-79.264 and 265.
						The current closure and/or post-closure cost estimates covered by such a test
						are shown for each facility: __.
9. This firm is the owner or operator of the following
						hazardous waste management facilities for which financial assurance for closure
						or, if a disposal facility, post-closure care, is not demonstrated to the
						Department through the financial test or any other financial assurance
						mechanism specified in subpart H of R.61-79.264 and 265 or equivalent or
						substantially equivalent state mechanisms. The current closure and/or
						post-closure cost estimates not covered by such financial assurance are shown
						for each facility: __.
This firm [insert "is required" or "is not required"] to
						file a Form 10K with the U.S. Securities and Exchange Commission (SEC) for the
						latest fiscal year.
The fiscal year of this firm ends on [month, day]. The
						figures for the following items marked with an asterisk are derived from this
						firm's independently audited, year-end financial statements for the latest
						completed fiscal year, ended [date].
[Fill in Alternative I if the criteria of paragraph
						(e)(1)(i) of section 261.143 are used. Fill in Alternative II if the criteria
						of paragraph (e)(1)(ii) of section 261.143(e) are used.]
ALTERNATIVE I
1.
Sum of current cost estimates [total of all
									 cost estimates shown in the nine paragraphs above
$____
*
2.
Total liabilities [if any portion of the cost
									 estimates is included in total liabilities, you may deduct the amount of that
									 portion from this line and add that amount to lines 3 and 4]
$____
*
3.
Tangible net worth
$
*
4.
Net worth
$
*
5.
Current assets
$
*
6.
Current liabilities
$
7.
Net working capital [line 5 minus line
									 6]
$
*
8.
The sum of net income plus depreciation,
									 depletion, and amortization
$
*
9.
Total assets in U.S. (required only if less
									 than ninety (90) percent of firm's assets are located in the U.S.)
$
10.
Is line 3 at least $10 million?
Yes/No
11.
Is line 3 at least 6 times line Is
Yes/No
12.
Is line 7 at least 6 times line Is
Yes/No
*
13.
Are at least ninety (90) percent of firm's
									 assets located in the U.S.? If not, complete line 14
Yes/No
14.
Is line 9 at least 6 times line Is
Yes/No
15.
Is line 2 divided by line 4 less than
									 2.0?
Yes/No
16.
Is line 8 divided by line 2 greater than
									 0.Is
Yes/No
17.
Is line 5 divided by line 6 greater than
									 1.5?
Yes/No
ALTERNATIVE II
1.
Sum of current cost estimates [total of all
									 cost estimates shown in the eight paragraphs above]
$____
2.
Current bond rating of most recent issuance of
									 this firm and name of rating service
3.
Date of issuance of bond
4.
Date of maturity of bond
*
5.
Tangible net worth [if any portion of the cost
									 estimates is included in "total liabilities" on your firm's financial
									 statements, you may add the amount of that portion to this line]
$____
*
6.
Total assets in U.S. (required only if less
									 than 90% of firm's assets are located in the U.S.)
$____
7.
Is line 5 at least $10 million?
Yes/No
8.
Is line 5 at least 6 times line Is
Yes/No
*
9.
Are at least 90% of firm's assets located in
									 the U.S.? If not, complete line 10
Yes/No
10.
Is line 6 at least 6 times line Is
Yes/No
I hereby certify that the wording of this letter is
						identical to the wording specified in section 261.151 Appendix E as such
						regulations were constituted on the date shown immediately below.
[Signature]
[Name]
[Title]
[Date]