A bond filed with the division by an operator pursuant to this chapter shall be in a form prescribed by the division, payable to the state of Iowa, and conditioned upon faithful performance by the operator of all requirements of this chapter and all rules adopted by the division pursuant to this chapter. The bond shall be signed by the operator as principal and by a corporate surety licensed to do business in Iowa as surety. In lieu of a bond, the operator may deposit cash, certificates of deposit or government securities with the division on the same conditions as prescribed by this section for filing of bonds. The amount of the bond or other security required to be filed with an application for registration of a surface mining site, or to increase the area of a site previously registered, shall be equal to the estimated cost of reclaiming the site as required under section 208.17. The estimated cost of reclamation of each individual site shall be determined by the division on the basis of relevant factors including, but not limited to, topography of the site, mining methods being employed, depth and composition of overburden, and depth of the mineral deposit being mined. The division may require an applicant for registration or amendment of registration of a site to furnish information necessary to estimate the cost of reclaiming the site. The penalty of the bond or the amount of cash or securities on deposit may be increased or reduced from time to time in accordance with section 208.15.
[C71, 73, 75, 77, 79, 81, § 83A.23]
85 Acts, ch 137, §18 ~IC93, § 208.23
Referred to in § 208.14, 208.24
Iowa General Assembly
Search: Iowa Code 1995
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