Northumberland County

"4. An independent and certified professional engineer shall be retained to estimate the total cost of decommissioning without regard to salvage value of the equipment, and the cost of decommissioning net salvage value of the equipment. The estimates shall be submitted to the Commission and local municipality after the first year of operation and every fifth year thereafter. 5. The facility owner or operator shall post and maintain a decommissioning fund in an amount equal to net decommissioning costs; provided that at no point shall decommissioning funds be less than twenty five percent (25%) of decommissioning costs. The decommissioning funds shall be posted and maintained with a bonding company or Federal or Commonwealth chartered lending institution chosen by the facility owner or operator and participating landowner posting the financial security, provided the bonding company or lending institution is authorized to conduct business within the Commonwealth. 6. Decommissioning funds may be in the form of a performance bond, surety bond, letter of credit, corporate guarantee or other form of financial assurance as may be acceptable to the Commission and local municipality. 7. If the facility owner or operator fails to complete decommissioning within the required time, then the landowner shall have six (6) months to complete decommissioning. 8. If neither the facility owner or operator, nor the landowner complete decommissioning within the period required, then the Commission and municipality may take such measures as necessary to complete decommissioning. 9. The decommissioning fund shall be released by the Commission and municipality when the owner or operator has documented, and the Commission and municipality concur, that decommissioning has been satisfactorily completed."