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<br />001419 <br /> <br />, <br /> <br />storage facility, including fees for the operation, maintenance, pumping energy and capital costs of <br />the central Arizona project as established by CA WCD. <br />3. Amounts equivalent to taxes ordinarily paid by CA WCD subcontractors and their customers to <br />pay for the repayment, operation and maintenance costs of the central Arizona project, to the <br />extent those equivalent amounts are not collected by paragraph 8 of this subsection. <br />4. The cost of storing that Colorado river water. <br />5. The cost of constructing, operating and maintaining a storage facility to the extent that facility <br />stores water for the California or Nevada agency. <br />6. The cost of recovering the stored water and delivering it to Colorado river water users in this <br />state to use in place of Colorado river water that would otherwise be used. <br />7. A fee equivalent to the approximate amount of administrative, legal and technical expenses <br />incurred by the authority in storing water for the California or Nevada agency, recovering that <br />stored water and making an equivalent amount of Colorado river water available to the California <br />or Nevada agency. <br />8. Any fee paid in lieu of taxes pursuant to section 48-3715, subsection B by the authority in <br />acquiring the water to be stored. <br />D. In each water banking agreement, the authority shall agree that in years in which the California <br />or Nevada agency requests recovery of water stored in Arizona, the authority shall cause a <br />decrease in Arizona diversions from the Colorado river by the amount of water requested for <br />recovery by the California or Nevada agency, thus creating unused entitlement for delivery to that <br />agency by the United States secretary of the interior pursuant to article ii(b )(6) of the decree. <br />These banking agreements may provide that during years when the secretary of the interior has <br />declared a shortage on the Colorado river, no decrease in Arizona diversions shall be required. <br />E. Each interstate banking agreement shall specify that if the California or Nevada agency <br />breaches the terms of the agreement the authority shall cease creating unused entitlement for that <br />entity until the breach is cured. <br /> <br />45-2472 . Distribution of long-term storage credits <br />A. The authority may distribute long-term storage credits accrued through the use of monies paid <br />by California and Nevada agencies pursuant to interstate banking agreements to CA WCD or other <br />users of Colorado river water in this state, if both of the following apply: <br />1. CA WCD or other water user agrees to use the long-term storage credits to replace diversions <br />that otherwise would have been made from the Colorado river. <br />2. CA WCD or other water user agrees to reduce its diversion of Colorado river water in years in <br />which the authority is obligated to recover stored water on behalf of a California or Nevada <br />agency in an amount equivalent to the long-term storage credits distributed. <br />B. The authority may pay from the monies collected from the California or Nevada agency in the <br />banking fund to CA WCD or other users of Colorado river water that have agreed to reduce <br />diversions from the Colorado river in accordance with subsection A the amount necessary to <br />compensate CA WCD or other water user for increased costs incurred in recovering and <br />using the stored water in place of diverting Colorado river water. <br /> <br />5 <br />