Section 11.97.425. Bonding pool.

	(a)  A statewide bonding pool has been established by the department for mining operations subject to AS 27.19. Instead of posting an individual performance bond, a miner may participate in the bonding pool.  
	(b)  To participate in the bonding pool each year, the miner shall pay into the pool a deposit of 15 percent of the miner's total bond amount determined under 11 AAC 97.420(a) for that year, plus an annual nonrefundable fee of five percent of the total bond amount for that year. These percentages are the same for all operations.  
	(c)  Except for an operation whose bond amount is reduced below $750 per acre under 11 AAC 97.420(b), the percentages set by (b) of this section result in a bonding pool deposit of $112.50 per acre and an annual nonrefundable fee of $37.50 per acre.  
	(d)  No reclamation plan approval goes into effect until the bonding pool deposit and annual nonrefundable fee are paid. The annual nonrefundable fee for the first year of a reclamation plan may not be prorated or reduced. Subsequent annual nonrefundable fees for any unreclaimed acreage are due by April 1 of each year that the reclamation is not completed or before the mining operation begins in each calendar year, whichever is earlier. If the amount of acreage requiring reclamation varies from year to year under the plan, the miner is responsible for making the appropriate payment, including an increased deposit when required, each year. If the acreage decreases, the miner may apply, under 11 AAC 97.435, for a refund of the excess deposit. The miner must pay the annual nonrefundable fee, and the increased deposit when required by the reclamation plan, without billing from the department. A late payment automatically suspends approval of the reclamation plan until full payment, including the late-payment fee set out in 11 AAC 05.010, is received, at which time the reclamation plan is automatically reinstated. During such a suspension, the miner may not engage in a mining operation.  
	(e)  If the commissioner, in his or her discretion, allows a miner who is subject to the bonding requirement of AS 27.21.160 to participate in the bonding pool, the bonding pool is not obligated for an amount exceeding $750 per acre. Any additional bond amount required under AS 27.21.160 must be provided under one of the mechanisms allowed under AS 27.21.160 and 11 AAC 90.  

Authorities

27.19.030;27.19.040

Notes

Reference

11 AAC 97.400

Authority

Sec. 2, ch. 92, SLA 1990 AS 27.19.030 AS 27.19.040

History

Eff. 7/30/92, Register 123; am 1/4/95, Register 133