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No person shall operate a facility which requires a permit under this article unless such person has posted with the department of health security in the amount of $250,000.00. The purpose of such security is to assure that the applicant will comply with the requirements of such permit, the provisions of this Code and the rules and regulations promulgated hereunder, and to secure payment of the city's expenses incurred in correcting any dangerous condition or defect existing in such facility or in responding to any emergency created as a result of the operation of the facility, and also to assure closure of the site and post-closure care in accordance with the requirements of this Code. Such security shall be maintained in effect for 90 days after the notice of the official closure of the facility has been given in writing to the commissioner. In no event shall the security be deemed to be the limit of the permittee's liability for its activities at the facility.
The commissioner shall specify the form, or forms, or combination of forms of security required by this section, subject to the approval of the city comptroller and the corporation counsel.
No security under this section shall be required of the City of Chicago.
(Added Coun. J. 6-23-93, p. 34796; Amend Coun. J. 3-6-96, p. 17625; Amend Coun. J. 9-1-99, p. 10090, § 6; Amend Coun. J. 11-16-11, p. 13798, Art. II, § 6)