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Delaware General AssemblyDelaware RegulationsAdministrative CodeTitle 710001300Split1351

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Department of Natural Resources and Environmental Control

Tank Management Section

1351 Underground Storage Tank Systems

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FC: 76

DNREC Facility ID#:

Letter from Chief Financial Officer

I am the Chief Financial Officer of [insert: name and address of Local Government Owner or Operator, or Guarantor]. This letter is in support of the use of the bond rating test to demonstrate financial responsibility for [insert: "taking corrective action" and/or "compensating third parties for Bodily Injury and Property Damage"] caused by [insert : "sudden Accidental Releases" and/or "nonsudden Accidental Releases"] in the amount of at least [insert: dollar amount] per Occurrence and [insert: dollar amount] Annual Aggregate arising from operating (an) Underground Storage Tank System(s) (USTs). This Local Government is not organized to provide general governmental services and does not have the legal authority under state law or constitutional provisions to issue general obligation debt.

UST System(s) at the following facilities are assured by this bond rating test:

Attach §3.18, Form R, Underground Storage Tank Schedule, listing each UST System assured by this Local Government Bond Rating Test.

The details of the issue date, maturity, outstanding amount, bond rating, and bond rating agency of all outstanding revenue bond issues that are being used by [name of Local Government Owner or Operator, or Guarantor] to demonstrate financial responsibility are as follows: [complete table]

Issue Date Maturity Date Outstanding Amount Bond Rating Rating Agency

[Moody's or Standard & Poor's]

The total outstanding obligation of [insert amount], excluding refunded bond issues, exceeds the minimum amount of $1 million. All outstanding revenue bonds issued by this government that have been rated by Moody's or Standard & Poor's are rated as at least investment grade (Moody's Baa or Standard & Poor's BBB) based on the most recent ratings published within the last 12 months. The revenue bonds listed are not backed by third-party credit enhancement or are insured by a municipal bond insurance company. Neither rating service has provided notification within the last 12 months of downgrading of bond ratings below investment grade or of withdrawal of bond rating other than for repayment of outstanding bond issues.

I hereby certify that the wording of this letter is §3.11, Form K of the Delaware Regulations Governing Underground Storage Tank Systems as such regulations were constituted on the date shown immediately below.

[Signature] ____________________________

[Name] _______________________________

[Title] ________________________________

[Date] ________________________________

Last Updated: December 12 2018 17:41:12.
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