C.R.S. Section 34-33-113
Performance bonds

(1)

After a permit application has been approved but before a permit is issued, the applicant shall file with the division, on a form prescribed and furnished by the board, a performance bond, payable to this state and conditioned upon faithful performance of all the requirements of this article and the permit. The bond shall cover the area of land within the permit area upon which the applicant will initiate and conduct surface coal mining and reclamation operations within the initial term of the permit. As succeeding increments of surface coal mining and reclamation operations are initiated and conducted within the permit area, the permittee shall file with the board an additional bond or bonds to cover such increments in accordance with this section. The amount of the bond required for each bonded area shall depend upon the reclamation requirements of the approved permit, shall reflect the probable difficulty of reclamation, giving consideration to such factors as topography, geology of the site, hydrology, and revegetation potential, and shall be determined as part of the proposed decision of the office pursuant to section 34-33-114, and subject to review by the board as provided in section 34-33-119. The amount of the bond shall be sufficient to assure the completion of the reclamation plan if the work had to be performed by the board in the event of forfeiture, and in no case shall the bond for the entire area under one permit be less than ten thousand dollars.

(2)

Liability under the bond shall be for the duration of the surface coal mining and reclamation operations and for a period coincident with the operator’s responsibility for revegetation requirements in section 34-33-120. The bond shall be executed by the applicant and a corporate surety licensed to do business in this state; except that the applicant may elect to deposit cash, negotiable bonds of the United States government or any political subdivision of this state, or negotiable certificates of deposit of any bank or other savings institution organized or transacting business in the United States. The cash deposit or market value of such securities shall be equal to or greater than the amount of the bond required for the bonded area. Cash or securities so deposited shall be deposited on the same terms upon which surety bonds may be deposited.

(3)

The office may accept the bond of the applicant itself without separate surety when the applicant demonstrates to the satisfaction of the office that the applicant has the financial means sufficient to self-bond for reclamation, pursuant to reasonable bonding regulations promulgated by the board, consistent with the purposes and provisions of this article.

(4)

Cash or securities posted as bond shall be deposited by the state treasurer in separate escrow accounts, to be known as reclamation surety accounts, and interest accruing on said funds shall be paid to the operator annually.

(5)

The amount of the bond or deposit required and the terms of each acceptance of the applicant’s bond shall be adjusted by the office from time to time for good cause as affected land acreages are increased or decreased or when the cost of future reclamation changes.

Source: Section 34-33-113 — Performance bonds, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-34.­pdf (accessed Oct. 20, 2023).

34‑33‑101
Short title 34‑33‑102
Legislative declaration 34‑33‑103
Definitions 34‑33‑104
Administration 34‑33‑105
Jurisdiction of office and board 34‑33‑106
Additional duties of division 34‑33‑107
Powers of department 34‑33‑108
Rules and regulations - no more stringent 34‑33‑109
Permits 34‑33‑110
Application for permit 34‑33‑111
Reclamation plan requirements 34‑33‑112
Small operator assistance 34‑33‑113
Performance bonds 34‑33‑114
Permit approval or denial 34‑33‑115
Revision of permit 34‑33‑116
Technical revision of permit - regulations 34‑33‑117
Coal exploration permit - regulations 34‑33‑118
Public notice and public hearings on complete applications 34‑33‑119
Permit application decisions of the office - appeals 34‑33‑120
Environmental protection performance standards - regulations 34‑33‑121
Surface effects of underground coal mining 34‑33‑122
Inspections and monitoring 34‑33‑123
Enforcement - civil and criminal penalties 34‑33‑124
Review by board 34‑33‑125
Release of performance bonds or deposits 34‑33‑126
Designating areas unsuitable for surface coal mining 34‑33‑127
Public agencies, public utilities, and public corporations 34‑33‑128
Judicial review 34‑33‑129
Surface coal mining operations not subject to this article 34‑33‑130
Data inventory 34‑33‑131
Informal opinion as to alluvial valley floors 34‑33‑132
Special coordination and review process - site-specific agreements 34‑33‑133
Abandoned mine reclamation plan 34‑33‑133.5
Colorado mine subsidence protection program - rules 34‑33‑134
Experimental practices 34‑33‑135
Civil actions 34‑33‑136
Water rights 34‑33‑137
Reservation clause
Green check means up to date. Up to date

Current through Fall 2024

§ 34-33-113’s source at colorado​.gov