BOARD00168 ‎(2)‎

• Board Meeting Date: 5/22/2007
• Description: ISF Section - ISF Rule 7 - Inundation of ISF Rights
• Board Meetings - Doc Type: Memo

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When making this determination, the Board shall consider all relevant factors including
those set forth in Section 8.30. In addition, the Board may determine that no decision is
appropriate until such a time as other governmental agencies make permit, licensing or
land use decisions which may impose terms and conditions relevant to the Board's
decision. In the event that the Board finds any of the conditions of Section 8.34 exist,
then it shall deny permission to inundate and shall seek judicial or administrative relief
from the proposed interference,

The Board does not seek to duplicate federal, state and local government requirements
for permits required in order to construct a water project and therefore, the Board may
make its decision after first considering the regulatory requirements imposed upon the
applicant. The Board may seek different conditions or compensation if the terms
required by the other governmental agencies have not adequately addressed the
Board's concerns about its ISF rights or, if the terms required by the other agencies
have not provided sufficient compensation to redress the impact or damages suffered
by the Board through the interference with its ISF rights. The term "compensation" may
include without limitation, cash payments to the Board (if such payments can be used
exclusively for furthering the goals of the ISF Program), installation of stream
measuring, monitoring or reporting devices on ISF reaches or lakes, construction of
stream, channel, bank or lake bed improvements which would permit the protection of
the natural environment to a reasonable degree in existing ISF rights, or donation to the
Board of water, water rights or interests in water in the vicinity of the inundation or as
needed by the Board in other parts of the State. Accepting compensation outside of the
vicinity of the inundation would only be accepted if no alternatives exist for mitigation on
the affected stream reach.

Although many persons may be interested in preventing interference or seeking
adequate compensation for interference to ISF rights caused by inundation, the Board is
the appointed governmental body charged with acquiring and protecting ISF decrees on
behalf of the people of the State of Colorado and shall determine appropriate
compensation if any.

Exhibit 3