Wyoming Administrative Code › Agency 020 - Environmental Quality, Dept. of › Sub-Agency 0014 - Storage Tanks › Chapter 1 - STORAGE TANKS › Part N - FINANCIAL ASSURANCE FOR UNDERGROUND STORAGE TANKS › Section 1-59 - Recordkeeping

Current through July 13, 2024
(a) Owners and/or
				  operators shall maintain evidence of all financial assurance mechanisms used to
				  demonstrate financial responsibility under this Part until released from the
				  requirements under Section 61. An owner and/or operator shall maintain such
				  evidence at the UST site or the owner's and/or operator's place of business.
				  Records maintained off site shall be made available upon request by the
				  department.
(b) The following
				  financial responsibility evidence shall be maintained:
(i) Copy of the instrument worded as
				  specified in the CFR for assurance mechanisms specified in
				  40 CFR
				  280.95 through
				  280.99,
				  280.102, or
				  280.104
				  through
				  280.107,
				  all as referenced in Section 2.
(ii) Copy of the chief financial officer's
				  letter based on year-end financial statements for the most recently completed
				  financial reporting year for a financial test or guarantee. Such evidence shall
				  be on file no later than 120 days after the close of the financial reporting
				  year.
(iii) Copy of the bond rating
				  published within the last 12 months by Moody's or Standard & Poor's for a
				  local government bond rating test.
(iv) Copy of the guarantor's bond rating
				  published within the last 12 months by Moody's or Standard & Poor's for a
				  local government guarantee where the guarantor's demonstration of financial
				  responsibility relies on the bond rating test.
(v) Copy of the signed insurance policy or
				  risk retention group coverage policy, with the endorsement or certificate of
				  insurance and any amendments to the agreements for an insurance policy or risk
				  retention group coverage.
(vi) The
				  following documents for a local government fund:
(A) A copy of the state constitutional
				  provision or local government statute, charter, ordinance, or order dedicating
				  the fund.
(B) Year-end financial
				  statements for the most recently completed financial reporting year showing the
				  amount in the fund. If the fund is established using incremental funding backed
				  by bonding authority, the financial statements shall show the previous year's
				  balance, the amount of funding during the year, and the closing balance in the
				  fund.
(C) If the fund is
				  established using incremental funding backed by bonding authority, also
				  maintain documentation of the required bonding authority, including either the
				  results of a voter referendum or attestation by the State Attorney
				  General.
(vii) Copy of
				  the guarantor's year-end financial statements for the most recently completed
				  financial reporting year showing the amount of the fund for a local government
				  guarantee supported by the local government fund.
(viii) Updated copy of a certification of
				  financial responsibility for any assurance mechanism specified in
				  40 CFR
				  280.95 through
				  280.99,
				  280.102, or
				  280.104
				  through
				  280.107,
				  all as referenced in Section 2. The certification shall be worded as follows
				  (except that instructions in brackets are to be replaced with the relevant
				  information):
Certification of Financial Responsibility
[Owner and/or operator name] hereby certifies that it is in
					 compliance with the requirements of the Wyoming Solid and Hazardous Waste
					 Division Rules and Regulations, Storage Tank Program, Chapter 1, Part N.
The financial assurance mechanism(s) used to demonstrate
					 financial responsibility under this Chapter is/are as follows:
[For each mechanism list the type of mechanism, name of
					 issuer, mechanism number (if applicable), amount of coverage, effective period
					 of coverage and if the mechanism covers "taking corrective action" and/or
					 "compensating third parties for bodily injury and property damage caused by"
					 either "sudden accidental releases" or "non-sudden accidental releases" or
					 "accidental releases."]
[Signature of owner and/or operator, name of owner and/or
					 operator, title, date], [signature of witness or notary, name of witness or
					 notary, and date].
(ix) The
				  owner and/or operator shall update this certification whenever the financial
				  assurance mechanism(s) used to demonstrate financial responsibility
				  change(s).