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EPID:L-2018-LLL-0013, Reed College - Financial Statements (June 30, 2017 and 2016) (Approved, Closed) |
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MONTHYEARML18078B2852018-03-12012 March 2018, 15 March 2018 Reed College - Financial Assurance for Cost of Decommissioning Activities - Self-Guarantee Agreement Project stage: Request ML18078B2872018-03-12012 March 2018 Reed College - Financial Assurance for Cost of Decommissioning Activities - Self-Guarantee Agreement Project stage: Request ML18078B2882018-03-15015 March 2018 Reed College - Transmittal Copy of Financial Assurance, Financial Statements and Decommission Cost Estimate Project stage: Request ML18074A3472018-03-15015 March 2018 Reed College - Research Reactor Decommissioning Cost Estimate Project stage: Request ML18074A3462018-03-15015 March 2018 Reed College - Financial Statements (June 30, 2017 and 2016) Project stage: Request ML18295A4362018-10-26026 October 2018 U.S. Nuclear Regulatory Commission Staff Review Reed College Research Reactor 2018 Financial Test for a Self-Guarantee for Decommissioning Funding Project stage: Approval 2018-03-12
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Category:Letter
MONTHYEARML24018A0862024-02-0101 February 2024 Examination Confirmation Letter No. 50-288/Ol-24-02, Reed College ML24017A0312024-01-18018 January 2024 Reed College, Examination Confirmation Letter 50-288/Ol-24-01 ML23289A1562023-10-25025 October 2023 Reed College 2022 Financial Test for Self-Guarantee for Decommissioning Funding ML23263B1622023-09-20020 September 2023 Reed Research Reactor 2022-2023 Annual Report ML23163A0132023-07-18018 July 2023 Examination Result Letter No. 50-288/OL-23-03, Reed College ML23163A0122023-07-18018 July 2023 Examination Report Letter No. 50-288/OL-23-03, Reed College ML23165A2312023-06-14014 June 2023 Reed Research Reactor (Docket No. 50-288/License No. R-112) 2022 Financial Assurance Update ML23139A1322023-05-16016 May 2023 Reed Research Reactor (Docket No. 50-288/License No. R-112) 2022 Financial Assurance ML23053A2402023-03-0606 March 2023 Examination Confirmation Letter No. 50-288/OL-23-03, Reed College ML23024A1732023-02-27027 February 2023 Examination Confirmation Letter No. 50-288/OL-23-02, Reed College ML23020A9372023-01-20020 January 2023 Reed College, Letter Intended to Fulfill the 14-day Written Report Requirement of Technical Specification 6.7.2, Special Reports, Following Operation in Violation of Limiting Conditions of Operation ML22241A1382022-09-0606 September 2022 Us Nuclear Regulatory Commission Staff Review Re Reed College 2021 Financial Test for Self-Guarantee for Decommissioning Funding ML22230B8022022-08-18018 August 2022 Annual Report for Reed College (Docket 50-288, License No. R-112) for the Period July 1, 2021 Through June 30, 2022 ML22229A5632022-08-17017 August 2022 Reed Research Reactor 2021-2022 Annual Report ML22199A2932022-07-28028 July 2022 Examination Confirmation Letter No. 50-288. OL-23-01, Reed College IR 05000288/20222022022-06-15015 June 2022 Reed College - U.S. Nuclear Regulatory Commission Routine Safety Inspection Report No. 05000288/2022202 IR 05000288/20222012022-06-14014 June 2022 Cover Letter - Reed College Nuclear Regulatory Commission Inspection Report No. 05000288/2022201 (Public) ML22019A1022022-02-0707 February 2022 Examination Confirmation Letter No. 50-288/OL-22-02, Reed College ML21258A3962021-10-0404 October 2021 U. S. Nuclear Regulatory Commission Staff Review Re Reed College 2020 Financial Test for Self-Guarantee for Decommission Funding NRC Ltr Rrr 2020 Financial Self Guarantee Draft ML21242A2362021-09-0808 September 2021 Reed College Regarding U.S. Nuclear Regulatory Commission Staff Review and Approval of the Revised Reed Research Reactor Requalification Plan ML21224A2032021-08-16016 August 2021 Examination Confirmation Letter No. 50-288/OL-22-01, Reed College ML21216A4392021-08-0404 August 2021 Reed College - Reed Research Reactor, Annual Report, July 1, 2020 - June 30, 2021 ML21174A1942021-06-23023 June 2021 Revised Reed Research Reactor Requalification Plan in ML21160A1792021-06-0808 June 2021 Reed College, Submitting Information Inadvertently Omitted from Letter Dated October 28, 2020 (ML21014A437) ML21202A1792021-06-0808 June 2021 Reed College - Submitting Information Inadvertently Omitted from Letter Dated October 28, 2020 (ML21014A437) IR 05000288/20212012021-06-0303 June 2021 Reed College U.S. Nuclear Regulatory Commission Routine Safety Inspection Report 05000288/2021201 ML21028A0922021-01-27027 January 2021 Examination Confirmation Letter No. 50-288/OL-21-02, Reed College ML20295A4242020-11-16016 November 2020 Notification of Mailing Address Change Regarding Submittal of Fingerprint Cards ML20304A3152020-10-28028 October 2020 Self-report of a Violation of Reed Research Reactor'S Requalification Plan ML21014A4372020-10-28028 October 2020 Reed College - Financial Assurance for Reed Institute Dba Reed College and Financial Statements for the Reed Institute June 30, 2020 and 2011 9 ML20290A6802020-10-27027 October 2020 U.S. Nuclear Regulatory Commission Staff Review Reed College 2019 Financial Assurance (Self-Guarantee)(EPID No. L-2019-LLL-0034 ML20265A3972020-09-21021 September 2020 Reed College - Response to Notice of Violation 05000288/2020201 ML20266G5442020-09-21021 September 2020 Reed College - Change of Management Staff ML20247J6032020-09-0303 September 2020 Examination Confirmation Letter No. 50-288/OL-21-001, Reed College IR 05000288/20202012020-09-0202 September 2020 Reed College - U.S. Nuclear Regulatory Commission Routine and Confirmatory Order Follow-Up Inspection Report No. 05000288/2020201 ML20216A6772020-08-0303 August 2020 Reed Research Reactor Annual Report July 1, 2019 -- June 30, 2020 (Rev. 1) ML20189A3002020-07-0808 July 2020 Completion of Required Actions Under Confirmatory Order EA-19-071 Related to U.S. Nuclear Regulatory Commission Investigation Reports 4-2016-022 and 4-2017-023 ML20175A8322020-06-23023 June 2020 Reed College - Change of Management Staff ML20162A1902020-06-10010 June 2020 Reed College - Actions Under Confirmatory Order EA-19-071 ML20136A4062020-04-27027 April 2020 Transmittal of Proposed Security Plan at Reed College ML20098F1312020-04-0202 April 2020 NRC Reed TR 20200402 Request for Rvw Officials Ellis and Sams 4.2.20 ML20108F5312020-04-0101 April 2020 Reed College, Notification of Personnel Change Update ML20010G1772020-01-14014 January 2020 Examination Confirmation Letter No. 50-288/OL-20-02, Reed College ML19317D7912019-10-30030 October 2019 Financial Assurance and Financial Statements for the Reed Institute June 30, 2019 and 2018 ML19282A3882019-10-0202 October 2019 Reed College - Requesting Termination of Quality Assurance Program Approval Form for Radioactive Material Packages No. 0949, Revision 0, Docket No.71-0949 IR 05000288/20192012019-08-16016 August 2019 Reed College - U.S. Nuclear Regulatory Commission Security Inspection Report 05000288/2019201 ML19225C1642019-07-31031 July 2019 Transmittal of Security Plan at Reed College ML19211C0072019-07-24024 July 2019 Reed College, Transmittal of Annual Report July 1, 2018 - June 30, 2019 ML19155A1752019-06-13013 June 2019 U.S. Nuclear Regulatory Commission Staff Review Reed College 2018 Financial Assurance (Self-Guarantee) Docket No. 50 288 ML23130A2532019-04-29029 April 2019 Reed College, Management Change Update 2024-02-01
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REED COLLEGE March 12,2018 OFFICE OF Financial Assurance for Cost of Decommissioning Activities THE TREASURER Self-Guarantee Agreement Guarantee made by Reed College, a non-profit college, organized under the laws of the 3203 Southeast State of Oregon, herein referred to as the "guarantor" to the U.S. Nuclear Regulatory Woodstock Boulevard commission, on behalf of the college as licensee.
Portland, Oregon 97202-8199 Recitals
- 1. The guarantor has full authority and capacity to enter into this self-guarantee by telephone the by-laws of the trustees of Reed College.
503/777-7506 2. This self-guarantee is being issued to comply with regulations issued by NRC, an fax agency of the U.S. Government, pursuant to the Atomic Energy Act of 1954, as 503/777-7775 amended, and the Energy Reorganization Act of 1974. NRC has promulgated email regulations in Title 10, Chapter I of the Code of Federal Regulations, Part 50, which require that a holder of, or an applicant for, a materials license issued arvinl@reed.edu pursuant to 10 CFR Part 50 provide assurance that funds will be available when needed for required decommissioning activities.
- 3. The self-guarantee is issued to provide financial assurance for decommissioning activities for the licenses and facilities shown. (The decommissioning estimate has been updated to reflect the results of an independent study completed in January 2018.)
License# License description Certified amounts of 20 17 Cost and estimates Docket #
R-112 Research and test reactor $2,420,100 50-288 and related facilities located at Reed Collage Portland Oregon 97202 Subtotal $2,420,100 25% Contingency fund $605,025 Total Estimated Cost $3,025,125
- 4. The Guarantor meets or exceeds the following financial test for a nonprofit College that issues bonds. Specifically, the most recent rating as of 2017 for the college is Aa2NMIG 1 by Moody's Investor Services, and agrees to comply with all notification requirements as specified in 10 CFR Part 50, and Appendix A to 10 CFR Part 30.
- 5. The guarantor does not have a parent company holding majority control of its voting stock.
- 6. Decommissioning activities as used below refer to activities required by 10 CFR Part 50 for decommissioning of the facilities identified.
- 7. Pursuant to the guarantor's authority to enter into this guarantee, the guarantor guarantees to the NRC that the guarantor shall:
- a. Carry out the required decommissioning activities, as required by the license listed above.
- 8. The guarantor agrees to submit audited financial statements annually within 90 days of the completion of the guarantor's fiscal year audit.
- 9. The guarantor agrees that if, at the end of any fiscal year before termination of this self-guarantee, it fails to meet the self-guarantee financial test criteria, it shall send in 90 days of the end of the fiscal year, by certified mail to the NRC, that it intends to provide alternative financial assurance as specified in 10 CFR Part 30.
Within 120 days after the end of the fiscal year, the guarantor shall establish such financial assurance.
- 10. The guarantor agrees that if it determines, at any time, other than as described in Recital 9, that it no longer meets the self-guarantee financial test criteria or it is disallowed from continuing as a self-guarantor, it shall establish alternative financial assurance as specified in 10 CFR Part 50 within 30 days.
- 11. The guarantor as well as its successors and assigns, agrees to remain bound jointly and severely under this guarantee notwithstanding any or all of the following:
amendment or modification of the license or NRC approved decommission funding plan for that facility, the extension or reduction of the time of performance of required activities, or any other modification or alteration of an obligation of the licenses pursuant to 10 CFR Parts 50 and 70.
- 12. The guarantor agrees that it shall be liable for all litigation costs incurred by the NRC in any successful effort to enforce the agreement against the guarantor.
- 13. The guarantor agrees to remain bound under the self-guarantee for as long as it, as licensee, must comply with the applicable financial assurance requirements of 10 CFR Part 50, for the previously listed facilities, except that the guarantor may cancel this self-guarantee by sending notice by certified mail to the NRC, such cancellation to become effective not before an alternative financial assurance mechanism has been put in place by the guarantor.
- 14. The guarantor agrees that if it, as licensee, fails to provide alternative financial assurance as specified in 10 CFR Parts 50 and 70 and obtain written approval of such assurance from the NRC within 90 days after a notice of cancellation by the guarantor is received by the NRC from the guarantor, the grantor shall make full payment under self-guarantee.
- 15. The guarantor expressly waives notice of acceptance of this self-guarantee by the NRC. The guarantor expressly waives notice of amendments or modifications of decommissioning requirements.
- 16. If the guarantor files financial reports with the U.S. Securities and Exchange Commission, then it shall promptly submit them to its independent auditor and to the NRC during each year in which this self-guarantee is in effect
- 17. The guarantor agrees that if, at any time before termination of this self-guarantee, its most recent bond issuance ceased to be rated in the category of "A" or above by either Standard & Poor's or Moody's, it shall provide notice in writing of such fact to NRC within 20 days of publication of the change by the rating service.
I hereby certify that this self-guarantee is true and correct to the best of my knowledge.
Effective date 3/ , :2../ ,;J.o r 8 Reed College by:
LOrraine~
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\ i OFFICIAL STAMP PATRICIA BLESSINGTON HENEGHAN NOTARY PUBUC-OREGON COMMISSION NO. 936063 MY COMMISSION EXPIRES FEBRUARY 09, 2019 ublic - State of Oregon