Use of a Single Surety Instrument for Multiple Lagoons

Section 900 Section 900.708  Use of a Single Surety Instrument for Multiple Lagoons a)         An owner may use a surety instrument specified in this Subpart to provide evidence of financial responsibility for more than one lagoon. b)         Whenever a single surety instrument is used for multiple lagoons, the owner must submit an itemization to the Department identifying all lagoons covered by the surety instrument and the amount allocated to each lagoon. c)         The amount of funds available through the surety instrument must be no less than the sum of funds that would be available if a separate surety instrument had been established and maintained for each lagoon. d)         In directing funds available through a single surety instrument for the closure of any single lagoon covered by that surety instrument, the Department shall direct only the amount of funds designated for that lagoon, unless the owner agrees to allow the Department to use additional funds available under that surety instrument.  Such an agreement does not affect the owner's obligation to provide evidence of financial responsibility up to the level of surety for all other lagoons.