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<br />YOOl~18 <br /> <br />and Nevada to Colorado river water users in Arizona to use in place of Colorado river water that <br />would have otherwise been used by those Arizona users. <br />4. Sue and be sued. <br />5. Perform all other acts necessary for the authority to carry out its purposes, powers and duties <br />in accordance with this chapter. <br />6. Submit a request for a general fund appropriation to the legislature each year. A request shall <br />be accompanied by a budget detailing how the appropriation would be used and justifying the <br />need for the appropriation. <br /> <br />45-2427 . Limitation on powers <br /> <br />A. This chapter does not authorize the authority to exercise any right of eminent domain. <br />B. The authority shall not store Colorado river water that would otherwise have been used in this <br />state. <br />C. The authority shall not enter into contracts with agencies in California and Nevada for the <br />storage of water on their behalf until both of the following occur: <br />1. Regulations are in effect, promulgated by the secretary of the interior of the United States, that <br />facilitate and allow the contractual distribution of unused entitlement under article II(b)( 6) of the <br />decree. <br />2. The director finds that the rules promulgated by the secretary of the interior adequately protect <br />this state's rights to Colorado river water, as those rights are defined by the decree. <br /> <br />45-2471 . Interstate water banking agreements <br /> <br />A. The authority may negotiate and enter into interstate water banking agreements with <br />appropriately authorized agencies in California and Nevada, if all of the following apply: <br />1. The provisions of section 45-2427, subsection C have been met. <br />2. The director and at least two other voting members of the commission vote in agreement to <br />enter into an interstate banking agreement. <br />3. The authority shall not enter into agreements with California and Nevada agencies that require <br />the authority to reduce Arizona diversions from the Colorado river more than a total of one <br />hundred thousand acre-feet of water in anyone year. <br />4. No interstate banking agreement may be inconsistent with the decree. <br />B. In each interstate water banking agreement, the authority may agree to store Colorado river <br />water in Arizona so that the stored water may be used in place of Arizona diversions from the <br />Colorado river in years in which the California or Nevada agency requests water from the <br />authority . <br />C. In each interstate water banking agreement, the California or Nevada agency shall agree to pay <br />to the authority all costs that are or will be incurred by the authority in storing and recovering <br />Colorado river water pursuant to the interstate banking agreement. The costs include all of <br />the following: <br />1. The cost of acquiring Colorado river water. <br />2. The cost of delivering that Colorado river water through the central Arizona project to a <br /> <br />4 <br />