Wisconsin Administrative Code
Department of Agriculture, Trade and Consumer Protection
ATCP 90-139 - Trade and Consumer Protection
Chapter ATCP 93 - Flammable, Combustible, And Hazardous Liquids
Subchapter VII - Financial Responsibility
Section ATCP 93.735 - Local government fund
Universal Citation: WI Admin Code ยง ATCP 93.735
Current through August 26, 2024
(1)
(a) To
use a local government fund to meet the financial responsibility requirements
of s.
ATCP 93.705, a local government owner or operator shall
establish a dedicated fund account that conforms to the requirements of this
section. A dedicated fund may not be commingled with other funds or otherwise
used in normal operations, except as specified in par. (c). A dedicated fund
shall be considered eligible if it meets the requirements in one of par. (b),
(c), or (d).
(b) The fund is
dedicated by state constitutional provision or local government statute,
charter, ordinance, or order to pay for taking corrective action and for
compensating third parties for bodily injury and property damage caused by
accidental releases arising from the operation of petroleum underground storage
tanks and is funded for the full amount of coverage required under s.
ATCP 93.705, or funded for part of the required amount of
coverage and used in combination with other mechanisms that provide the
remaining coverage.
(c)
1. The fund is dedicated by state
constitutional provision or local government statute, charter, ordinance, or
order as a contingency fund for general emergencies, including taking
corrective action and compensating third parties for bodily injury and property
damage caused by accidental releases arising from the operation of petroleum
underground storage tanks and is funded for 5 times the full amount of coverage
required under s.
ATCP 93.705 or funded for part of the required amount of
coverage and used in combination with other mechanisms that provide the
remaining coverage.
2. If the fund
is funded for less than 5 times the amount of coverage required under s.
ATCP 93.705, the amount of financial responsibility
demonstrated by the fund may not exceed one-fifth the amount in the
fund.
(d)
1. The fund is dedicated by state
constitutional provision, or local government statute, charter, ordinance, or
order to pay for taking corrective action and for compensating third parties
for bodily injury and property damage caused by accidental releases arising
from the operation of petroleum storage tanks.
2. A payment is made to the fund once every
year for 7 years until the fund is fully funded. This 7-year period is
hereafter referred to as the pay-in period.
3. The amount of each payment shall be
determined by the formula (TF - CF)/Y, where TF is the total required financial
assurance for the owner or operator, CF is the current amount in the fund, and
Y is the number of years remaining in the pay-in period.
4. If the method in this paragraph is chosen,
one of the following is also required:
a. The
local government owner or operator has available bonding authority, approved
through voter referendum if such approval is necessary prior to the issuance of
bonds, for an amount equal to the difference between the required amount of
coverage and the amount held in the dedicated fund. This bonding authority
shall be available for taking corrective action and for compensating third
parties for bodily injury and property damage caused by accidental releases
arising from the operation of petroleum storage tanks.
b. The local government owner or operator has
a letter signed by the appropriate state attorney general stating that the use
of the bonding authority will not increase the local government's debt beyond
the legal debt ceilings established by Wisconsin statutes. The letter shall
also state that prior voter approval is not necessary before use of the bonding
authority.
(2) To demonstrate that it meets the requirements of the local government fund, the chief financial officer of the local government owner or operator or guarantor shall sign a letter worded exactly as specified in 40 CFR 280.107(d), except for the following:
(a) The instructions in brackets
in the letter shall be replaced by the relevant information and the brackets
deleted.
(b) If financial
responsibility for aboveground tanks within the scope of this subchapter is
demonstrated using this method, all of the following changes shall be made:
1. Reference in the letter to underground
tanks shall be amended to refer to aboveground tanks.
2. Certification that wording is identical to
the wording required in
40 CFR
280.107(d) shall be
deleted.
A link to 40 CFR 280 is available at the following EPA Web site: http://www.epa.gov/oust/fedlaws/cfr.htm.
Disclaimer: These regulations may not be the most recent version. Wisconsin may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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