Bedford Township, Bedford County

"Such financial security shall be in the form of a bond, acceptable in form to the Township's Solicitor, posted with a bonding company chosen by the party posting the financial security, provided said bonding company is authorized to conduct such business with the Commonwealth. a. Such bond shall provide for and secure to the public the decommissioning of any improvements. b. The amount of the bond to be posted for the decommissioning of any improvements shall be equal to One Hundred and Ten (110%) Percent of the estimated cost. The Township may adjust the required amount of the bond by Resolution every three (3) years. Subsequent to said adjustment, the Township may require the PSES Owner and/or Operator to post additional security in the form of an increased bond in order to assure that the financial security equals said One Hundred Ten (110%) Percent. Any additional security shall be posted by the PSES Owner and/or Operator in accordance with this subsection. c. The amount of financial security required shall be based upon an estimate of the cost of decommissioning of any improvements, submitted by the PSES Owner and/or Operator and prepared by a professional engineer licensed as such in this Commonwealth and certified by such engineer to be a fair and reasonable estimate of such cost. The Township, upon the recommendation of the municipal engineer, may refuse to accept such estimate for good cause shown. If the PSES Owner and/or Operator and the Township are unable to agree upon an estimate, then the estimate shall be recalculated and recertified by another professional engineer licensed as such in this Commonwealth and chosen mutually by the Township and the PSES Owner and/or Operator. The estimate certified by the third engineer shall be presumed fair and reasonable and shall be the final estimate. In the event that a third engineer is so chosen, fees for the services of said engineer shall be paid equally by the Township and the PSES Owner and/or Operator. d. As the work of decommissioning of any improvements proceeds, the party posting the bond may request the governing body to release, or authorize the release, from time to time, such portions of the bond(s) necessary for payment to the contractor or contractors performing the work. Any such requests shall be in writing addressed to the Board of Supervisors and the Board of Supervisors shall request the Township engineer to certify, in writing, to the Board of Supervisors that such portion of the decommissioning of any improvements has been completed. Upon such certification, the Board of Supervisors shall authorize release by the bonding company of an amount as estimated by the Township engineer fairly representing the value of the decommissioning of any improvements. e. The owner of any participating property which is subject to decommissioning shall be given the option to keep the road(s) created on such owner's property by or in connection with construction of any PSES. f. When the PSES Owner and/or Operator has completed the decommissioning of all improvements, such Owner and/or Operator shall notify the Board of Supervisors, in writing, by certified or registered mail, of the completion of the aforesaid decommissioning of all improvements and shall send a copy thereof to the municipal engineer. The Board of Supervisors shall direct and authorize the Township engineer to inspect the site. The Township engineer shall indicate to the Township approval or rejection of said decommissioning of all improvements, either in whole or in part, and if said improvements, or any portion thereof, shall not be approved or shall be rejected by the Township engineer, said report shall contain a statement of reasons for such non-approval or rejection. g. The Board of Supervisors shall notify the PSES Owner and/or Operator as to the Township Engineer's acceptance or rejection of the decommissioning. If the decommissioning is acceptable, the Township shall release the bond. If the decommissioning is not acceptable, the PSES Owner and/or Operator shall, within thirty (30) days of notice by the Township of the deficiencies, correct the same and in the event the said deficiencies are not so corrected within the said time period, or in the event the decommissioning is not commenced, the Township may utilize the bond to accomplish the same as set forth herein."