Walker Township, Juniata County

"b. At the time of issuance of the permit for the construction of the PSES, the owner shall provide evidence that financial security will be in place at the start of commercial operation in the form and amount of a bond, irrevocable letter of credit, or other financial security acceptable to the township to secure the expense of dismantling and removing said PSES and restoration of the land to its original condition, in the amount of 110% of the estimated decommission cost minus the salvageable value. The decommissioning estimate may include an amount for potential environmental remediation if the township or its engineer requires the same in its sole reasonable discretion. c. On every 5th anniversary of the date of providing the decommissioning financial security, the PSES owner shall provide and submit for approval an updated engineer's decommission cost estimate, in the same manner as the initial submission, and the bond, letter of credit or other financial security acceptable to the township shall be adjusted upward or downward as necessary. If the decommissioning security amount changes, the PSES owner shall remit the increased financial security to the Township within (30) thirty days of the approval of the updated decommissioning security estimate by the Township." "e. The decommissioning security may be in the form of cash, letter of credit, or an investment grade corporate guarantee rated BBB-/Baa3 or better by S & P, Moody's, or AM Best, as applicable."