The commission may require evidence of financial responsibility as it deems appropriate to assure the commission that the responsible owner or operator has sufficient assets to properly operate the site and to provide proper closure. A firm commitment to provide backup equipment by lease, purchase, or diversion from other activities is part of this responsibility. This assurance for the proper operation of the site may be in the form of performance bonds, letters of credit from recognized financial institutions, trust funds, or insurance (in the case of privately owned facilities). Commissioners court or city council resolution, in the case of publicly owned facilities, may be substituted for the required financial assurance, if approved by the commission on April 9, 1994, the provisions of §§330.280-330.286 of this title (relating to Financial Assurance) will supersede this section.

Source Note:The provisions of this §330.9 adopted to be effective October 9, 1993, 18 TexReg 4023.