060-6 Wyo. Code R. § 6-13

Current through April 27, 2019

Section 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.

060-6 Wyo. Code R. § 6-13