The financial assurance shall be in an amount not less than two hundred fifty thousand dollars ($250,000) and must guarantee that the garbage does not contain any regulated hazardous waste, infectious waste, or explosive materials or debris. The financial assurance shall be provided in accordance with acceptable financial assurance instruments which include, but are not limited to, an escrow account, performance bond, or letter of credit. The health department shall adopt rules specifying the terms and conditions of financial assurance instruments, as appropriate.
Ala. Code § 22-27-5 (1975)