A. Financial assurances shall be required to ensure compliance with elements of the reclamation plan, including, but not limited to, revegetation and landscaping requirements, restoration of aquatic or wildlife habitat, restoration of water bodies and water quality, slope stability and erosion and drainage control, disposal of hazardous materials, and other measures, if necessary.

B. Cost estimates for the financial assurance shall be submitted to the Planning Department for review and approval prior to the operator securing financial assurances. The amount of the financial assurance shall be based upon the estimated costs of reclamation for the years or phases stipulated in the approved reclamation plan.

C. In projecting the costs of financial assurances, it shall be assumed without prejudice or insinuation that the surface mining operation could be abandoned by the operator and, consequently, the City may need to contract with a third-party commercial company for reclamation of the site.

D. Financial assurances shall be in a form and an amount satisfactory to the City Attorney and City Risk Manager and may include the following:

E. Revisions to financial assurances shall be submitted to the Director of Development Services, or designee, each year prior to the anniversary date for approval of the financial assurances. The financial assurance shall cover the cost of existing disturbance and anticipated activities for the next calendar year, including any required interim reclamation. If revisions to the financial assurances are not required, the operator shall explain, in writing, why revisions are not required.

F. The financial assurances shall remain in effect and shall be released when the City determines that reclamation has been completed in accordance with the approved reclamation plan. If a mining operation is sold or ownership is transferred to another person, the existing financial assurances shall remain in full force and effect and shall be released by the City upon receipt of financial assurances from the new owner in a form and an amount satisfactory to the City Attorney and Risk Manager. (Ord. 3544 § 1, 2023; Ord. 2921 § 3, 2003).