What type of authority manages the termination of bonds or securities?

The Virginia Stormwater Management Program (VSMP) authority is responsible for managing various aspects of stormwater management, including the oversight of bonds or securities that may be posted to ensure compliance with regulations. This is particularly relevant when it comes to ensuring that a developer or entity adheres to the requirements set forth in their stormwater management plan. If they fail to comply, the bond or security can be used to cover the cost of completing the necessary measures to protect water quality and manage stormwater effectively.

In the context of this question, the VSMP authority’s role in the termination of bonds or securities ensures that financial assurances are properly managed and that there is a clear process for concluding these instruments when the related obligations are fulfilled. This oversight is crucial for maintaining the integrity of stormwater management practices, ensuring compliance with environmental regulations, and safeguarding public and environmental health.

Other types of authorities, such as local zoning authorities, state environmental agencies, or the Department of Transportation, do not have the same specific regulatory framework concerning the direct management of bonds related to stormwater management. Therefore, the VSMP authority is the correct choice as it is directly involved in ensuring that bond termination processes align with stormwater management requirements within Virginia.