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Closure, Post -Closure, Contingency Action Plan and Financial Assurance Plan <br />5 Financial Assurance <br />5 Financial Assurance <br />Financial assurance for site closure, post -closure maintenance and monitoring and contingency action is <br />provided by establishment of a Financial Guarantee Bond (Bond) in accordance with Part 7035.2735. <br />The financial assurance cost estimate as calculated is $12,680,501.54, as detailed in Table 5. The <br />Landfill currently has a Bond on file with the MPCA and it is adjusted annually based on the required <br />review of the financial assurance for the annual report submittal. Upon approval of the revised cost <br />estimates included in this report, the Landfill will revise the value of their Bond. The Bond value will also <br />be revised with subsequent annual report submittals accordingly. <br />In addition to the financial assurance established with the MPCA, the Landfill also has established <br />financial assurance with both the City of Elk River ($300,000) and Sherburne County ($300,000). The <br />financial assurance mechanism currently implemented with both the City and County is also held in the <br />form of Bonds. <br />