Surface mining operations that are not undertaken by governmental agencies shall provide financial assurances in any one or a combination of the following forms:
(a) Surety bonds;
(b) Trust funds;
(c) Irrevocable letters of credit; and/or,
(d) Such other forms of financial assurances as the State Mining and Geology Board may adopt.
In addition those listed above, governmental agencies undertaking surface mining operations may provide financial assurances in the following forms:
(e) Pledges of revenue; and/or,
(f) Budget set asides. Financial assurances shall be issued by a corporate surety authorized to do conduct surety business in the State and shall be made payable to the “County of Yolo or the Department of Conservation.” Financial assurances that were approved by the County prior to January 1, 1993, and were made payable to the State Geologist shall be considered payable to the Department for the purposes of this chapter.
The form of such financial assurance instruments shall be subject to the approval of the County Counsel who may require such additional provisions as are necessary to ensure the performance of the obligations. (§ 1, Ord. 1191, eff. September 5, 1996)