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.' ~ 1108 Proposed Colorado 64 Principles -. Draft January 22,2003 Page 4 of7 These Water Principles (incorporating our suggested modifications) could form the basis for how the State can use its water resources for the well being of all its citizens. Need for quick action in movement of water within Colorado We believe the state's needs will require the movement of water from some existing uses, at least on a periodic basis during extreme drought conditions or as interim supplies. Further, we believe that Colorado's needs will require investment in substantial new infrastructure including reservoirs and pipelines to convey water. Time is of the essence. The current storage deficit in the State's water reservoirs 8ffects all water users, including agricultural, recreational, municipal and industrial users. Our lack of storage also extends the duration of environmental impacts from reduced stream flows and lake levels. Even in the most favorable circwnstances, major water development projects could take in excess of lO years to develop. This means that in the next 10 years, water administrators must have the flexibility and institutional mechanisms to facilitate short- term water transfers and exchanges. The State's water users in recent decades have not been in a position to develop the water .infrastructure that is required to protect its interests under severe drought conditions nor to position the water resources to adequately meet the needs of the 21 st Century. It is now time to position the State's water resources to meet the current and evolving needs of all water users and to facilitate the protection, management, operation and development of water infrastructure that is needed for the next 50 years. We believe this will reqUIre greater levels of water storage on water systems, the responsible use of non-renewable resources such as the Denver Basin aquifers. We believe it will also require binding contracts with senior water rights holders if leasing is incorporated as a part of a municipal water management portfolio.