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3. HB 0 5 - 1177 affirms the state constitution’s recognition of water <br /> <br />rights as a private usufructuary property right, and is not <br />intended to restrict the ability of the holder of a water right to <br />use or to dispose of that water right in any manner permitted <br />under Colorado law. <br /> <br />4. HB 05 - 1177 affirms the protections for contractual and property <br /> <br />rights recognized by the contract and takings protections under <br />the state constitution and related statutes. <br /> <br />5. HB 05 - 1177 shall not be implemented in any way that would <br /> <br />diminish, impair, or cause injury to any property or contractual <br />right created by intergovernmental agreements, contracts, <br />stipulations among parties to water cases, terms and conditions <br />in water decrees, or any other similar document related to the <br />allocation or u se of water. <br /> <br />6. HB 05 - 1177 shall not be construed to supersede , abrogate, or <br /> <br />cause injury to vested water rights or decreed conditional water <br />rights. <br /> <br />7. HB 05 - 1177 does not impair, limit, or otherwise affect the rights <br /> <br />of persons or entities to enter into agre ements, contracts, or <br />memoranda of understanding with other persons or entities <br />relating to the appropriation, movement, or use of water under <br />other provisions of law. <br /> <br />II I . F G P <br /> <br /> OUNDATIONAL UIDING RINCIPLES <br /> <br />The IBCC is informed and guided by the following foundational <br />principles , which will provide a framework for future discussions . <br /> <br />1. All Colorado water users must share in solving Colorado’s water <br /> <br />resource problems. <br /> <br />2. The State of Colorado should provide assistance, when <br /> <br />requested, for local water supply p lanning and assist in the <br />implementation of consensus - based water resource solutions <br />that respect local authorities, private property and water rights. <br /> <br />3. During the process of planning to meet future needs, water <br /> <br />suppliers and utilities should give preferen ce to development of <br />economically viable local water sources and demand <br />IBCC Charter Page 2 of 10 <br />