Financial Responsibility Agreement: Hillsborough County and Mosaic Fertilizer

Original title: 2023-2024 Financial Responsibility Agreement between Hillsborough County and Mosaic Fertilizer, L.L.C. Authorize for execution the 2023-2024 Financial Responsibility Agreement between Hillsborough County and Mosaic Fertilizer, LLC. This is an agreement renewed annually that ensures that if Mosaic Fertilizer, LLC were to fail to complete reclamation of mined lands in Hillsborough County that there would be funding available for the County to complete the reclamation work. This Financial Responsibility Agreement protects the County from negative financial impacts of adverse environmental issues and or failure of the company to complete required reclamation activities. No County funds are required for this item.

Record date · November 7, 2023

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What This Bill Does

Hillsborough County has approved an annual agreement with Mosaic Fertilizer, LLC to ensure funds are available for land if the company fails to complete its required work. This agreement protects the county from potential financial costs related to environmental issues or incomplete mining site restoration.

Why it matters

This agreement ensures that Hillsborough County taxpayers are not responsible for the costs of reclaiming mined lands if Mosaic Fertilizer, LLC fails to fulfill its environmental obligations.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

Hillsborough County

The county gains a financial guarantee that protects it from costs associated with land reclamation.

Directly affected

Mosaic Fertilizer, L.L.C.

The company is contractually obligated to provide financial assurance for its land reclamation activities.

Key Facts

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