060-6 Wyo. Code R. §§ 6-13 - Financial Assurances
(a) The Board shall
require financial assurances as a condition of a wind energy lease sufficient
to assure compliance with all terms and conditions of the lease including
decommissioning and site reclamation.
(b) Financial assurances shall remain in
effect even if the Board subsequently approves an assignment of the wind energy
lease pursuant to Chapter 6, Section
8, of these rules unless or until assignee
provides adequate and sufficient financial assurances.
(c) Additional financial assurances to cover
risks not anticipated at the time of the original wind energy lease may be
required at any time by the Director, provided the Director first gives the
wind energy lessee sixty (60) days written notice stating the reason for and
the amount of the additional financial assurance. The Director shall prepare an
informational board matter pursuant to Chapter 1 whenever such additional
financial assurances are required. The financial assurance will remain in place
until the unanticipated risk is diminished.
(d) Financial assurance may be accepted in
any of the following forms at the discretion of the Director with consideration
of credit worthiness, financial strength, credit history, credit rating, and
debt:
(i) Surety bond with a corporate surety
registered in Wyoming.
(ii)
Certificate of deposit in the name of the "Board of Land Commissioners", with a
state or federally insured financial institution in Wyoming. The wind energy
lessee shall be entitled to all interest payments.
(iii) Other forms of assurance such as
corporate guarantee, letter of credit, insurance policy, security interest in
net salvage value, or other forms as may be acceptable to the Director.
Notes
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