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<br />S <br />1 private entities to undertake mitigation and construction related activities, to effectuate the delivery <br />2 of water stored in the reservoir. <br />3 <br />4 <br />5 *SECTION 29. 37-XX-XXX Colorado Revised Statutes, is amended to read.: <br />6 <br />7 Instream Flow Water Rights Acquisitions from the Construction Fund <br />8 <br />9 Water Acquisition Program: The statute will create an Instream Flow Acquisition Fund and will <br />10 either authorize the utilization of $1 million from the Perpetual Base Account for the purpose of <br />11 acquiring water rights for instream flow purposes or repeal the prohibition on the use of <br />12 Construction Funds for the acquisition of water rights for instream flow purposes (the latter being <br />13 the alternative utilized if the Perpetual Base Account and the Construction Fund are combined). <br />14 <br />15 <br />16 *SECTION 30. 37-XX-XXX Colorado Revised Statutes, is amended to read: <br />17 <br />18 Merging the Severance Tax Trust Fund Perpetual Base Account with the Construction <br />19 Fund. <br />20 <br />21 Merging Water Project Loan Funds: The statute revision will merge all activities, revenues, <br />22 programs, laws, rules and operations of the Severance Tax Trust Fund Perpetual Base Account into <br />23 the activities, revenues, programs, laws, rules, and operations of the Colorado Water Conservation <br />~24 Board's Construction Fund. All revenues now being received by the Perpetual Base Account will <br />25 be deposited into the Construction Fund by the State Treasurer. The two funds will be operated as <br />26 one, with all statutory authorizations of the Construction Fund remaining unchanged. <br />27 <br />28 <br />29 *SECTION 31. 37-XX-XXX Colorado Revised Statutes, is amended to read: <br />30 <br />31 CWCB Water Ownership <br />32 <br />33 Water Partnership Projects: The statute will authorize the board to acquire by gift, transfer, <br />34 lease, purchase, or long-term operating agreement land and water, or interests in land and water, as <br />35 the director, deems necessary, suitable or proper. "Interest in land and water" means any and all <br />36 rights and interest in land less than the full fee interest, including but not limited to future interests, <br />37 easements, covenants and contractual rights. Every such interest in land and water held by the <br />38 board when properly recorded shall run with the .land or water to which it pertains for the benefit of <br />39 the citizens of this state and may be protected and enforced by the board in the district court of the <br />40 county in which the land or water, or any portion thereof, is located; and, the board has the power <br />41 to lease, exchange, or sell any property, water rights, land, or interest in land or water rights which <br />42 now are or may become surplus or which, in the proper management of the division., the board <br />43 desires to lease, exchange, or sell; and, the board may construct, lease, or otherwise establish <br />44 facilities utilizing its land and water rights and to operate and maintain. its land, water and facilities, <br />45 and, when appropriate, make reasonable charges for their use or enter into contracts for their <br />~46 maintenance or operation. Such fees and charges shall be credited to the Construction Fund; and, <br />-11- <br />