at december 31 . the following table summarizes our restricted cash and marketable securities as of december .
in 2010 what was the percent of the financing proceeds as part of the total restricted cash and marketable securities
we own a 19.9% ( 19.9 % ) interest in a company that , among other activities , issues financial surety bonds to secure capping , closure and post-closure obligations for companies operating in the solid waste industry . we account for this investment under the cost method of accounting . there have been no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment . this investee company and the parent company of the investee had written surety bonds for us relating to our landfill operations for capping , closure and post-closure , of which $ 855.0 million and $ 775.2 million were outstanding as of december 31 , 2010 and 2009 , respectively . our reimbursement obligations under these bonds are secured by an indemnity agreement with the investee and letters of credit totaling $ 45.0 million and $ 67.4 million as of december 31 , 2010 and 2009 , respectively . off-balance sheet arrangements we have no off-balance sheet debt or similar obligations , other than operating leases and the financial assurances discussed above , which are not classified as debt . we have no transactions or obligations with related parties that are not disclosed , consolidated into or reflected in our reported financial position or results of operations . we have not guaranteed any third-party debt . guarantees we enter into contracts in the normal course of business that include indemnification clauses . indemnifications relating to known liabilities are recorded in the consolidated financial statements based on our best estimate of required future payments . certain of these indemnifications relate to contingent events or occurrences , such as the imposition of additional taxes due to a change in the tax law or adverse interpretation of the tax law , and indemnifications made in divestiture agreements where we indemnify the buyer for liabilities that relate to our activities prior to the divestiture and that may become known in the future . we do not believe that these contingent obligations will have a material effect on our consolidated financial position , results of operations or cash flows . we have entered into agreements with property owners to guarantee the value of property that is adjacent to certain of our landfills . these agreements have varying terms . we do not believe that these contingent obligations will have a material effect on our consolidated financial position , results of operations or cash flows . other matters our business activities are conducted in the context of a developing and changing statutory and regulatory framework . governmental regulation of the waste management industry requires us to obtain and retain numerous governmental permits to conduct various aspects of our operations . these permits are subject to revocation , modification or denial . the costs and other capital expenditures which may be required to obtain or retain the applicable permits or comply with applicable regulations could be significant . any revocation , modification or denial of permits could have a material adverse effect on us . republic services , inc . notes to consolidated financial statements , continued .