The Bond Release and Forfeiture Section is responsible for computer tracking of all performance bonds posted by coal companies on the Surface Mining Information System (SMIS) and for file maintenance of all bonds. When a coal company meets all reclamation requirements on a permit, the Bond Release and Forfeiture section processes the release of the performance bond. If a coal company does not meet permit requirements, this section will forfeit the bond and the monies collected will be used for reclamation purposes. For more information regarding bond releases or forfeiture, contact Barbara Reynolds, supervisor.
Also included in the Bond Release and Forfeiture Section is the Kentucky Bond Pool program. The bond pool was created by law in 1986. It is an alternative bonding program available to Kentucky's coal industry for meeting the bonding requirements of KRS 350.060(11). For more information about the Kentucky Bond Pool click here, or contact Corey Sanders, the Bond Pool administrator.