Section 22245 - CalRecycle - Pledge of Revenue (California Code of Regulations)

§ 22245. CalRecycle - Pledge of Revenue

(a) A pledge of revenue shall consist of a resolution by the governing body of the operator or provider of financial assurance authorizing an agreement between the operator or provider of financial assurance and CalRecycle to establish the pledge. The resolution and the agreement shall remain effective continuously throughout the period in which the pledge of revenue is used to satisfy the requirements of Subchapter 2 of this Chapter.

(b) The agreement establishing the pledge of revenue shall contain the following items:

(1) The types and sources of pledged revenue;

(2) The amount of revenue pledged from each source;

(3) The period of time that each source of revenue is pledged to be available; and

(4) The solid waste landfill(s) and the current postclosure and/or corrective action cost estimate(s) that are covered by the pledge.

(5) The authorization for CalRecycle to direct payment for postclosure maintenance and/or corrective action if CalRecycle determines that the operator has failed or is failing to perform postclosure maintenance or corrective action activities covered by the mechanism.

(c) An operator or provider of financial assurance shall pledge the following types of revenue that the operator or provider of financial assurance controls and that will be available in a timely manner to pay for postclosure maintenance or corrective action:

(1) User fees, rents, or other guaranteed revenue from existing or planned solid waste facilities;

(2) Tax increases within statutory limitations; and/or

(3) Other guaranteed revenues that are acceptable to CalRecycle.

(d) If an operator or provider of financial assurance ceases at any time to retain control of its ability to allocate any pledged revenue to pay postclosure maintenance or corrective action costs, the operator or provider of financial assurance shall notify CalRecycle and shall obtain alternate coverage within 60 days after control lapses.

(e) Each resolution and agreement shall be submitted with a completed pledge of revenue form CalRecycle 114 (02/2010), which is incorporated by reference.

(1. New section filed 6-18-97; operative 7-18-97 (Register 97, No. 25). 2. Amendment of section heading and subsections (a), (b)(5), (c)(3) and (d) and new subsection (e) filed 4-9-2010; operative 7-1-2010 (Register 2010, No. 15).)

Note: Authority cited: Section 40502, Public Resources Code. Reference: Sections 43103 and 43500- 43610, Public Resources Code.

Disclaimer: This content is regularly reviewed to ensure the information is current and accurate. However, Section 22245 CalRecycle - Pledge of Revenue may have been updated since our last review. For the latest version of all legislation, please check the official resources.

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