LAC 43:XV.4107. Adjustment of Amount

A. The amount of the performance bond liability applicable to a permit shall be adjusted by the office as the acreage in the permit area is revised, methods of mining operation change, standards of reclamation change or when the cost of future reclamation, restoration or abatement work changes. The office shall notify the permittee, the surety and any person with a property interest in collateral posted as bond of any proposed bond adjustment and provide the permittee an opportunity for an informal conference on the adjustment. The office shall review each outstanding performance bond at the time that permit reviews are conducted under §3503, and re-evaluate those performance bonds in accordance with the standards in §4101. B. A permittee may request reduction of the required performance bond amount upon submission of evidence to the office proving that the permittee's method of operation or other circumstances will reduce the maximum estimated cost to the office to complete the reclamation responsibilities and therefore warrant a reduction of the bond amount. The request shall be considered as a request for partial bond release in accordance with the procedures of Chapter 45. C. In the event that an approved permit is revised in accordance with §3505, the office shall review the bond for adequacy and, if necessary, shall require adjustment of the bond to conform to the permit as revised.