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Discussion <br />There are two methods by which the CWCB could authorize the requested funding: <br />1. If the Severance Tax Trust Fund Perpetual Base Account is merged into the Construction <br />Fund, the following statutory revisions would need to be made. First, the prohibition on use of <br />Construction Fund money for water acquisitions would be deleted: <br />37-92-102(3) Further recognizing the need to correlate the activities of mankind with some <br />reasonable preservation of the natural environment, the Colorado water conservation board is <br />hereby vested with the exclusive authority, on behalf of the people of the state of Colorado, to <br />appropriate in a manner consistent with sections 5 and 6 of article XVI of the state constitution, <br />such waters of natural streams and lakes as the board determines may be required for minimum <br />stream flows or for natural surface water levels or volumes for natural lakes to preserve the <br />natural environment to a reasonable degree. In the adjudication of water rights pursuant to this <br />article and other applicable lave, no other person or entity shall be granted a decree adjudicating a <br />right to water or interests in water for instream flows in a stream channel between specific <br />points, or for natural surface water levels or volumes for natural lakes, for any purpose <br />whatsoever. The board also may acquire, by grant, purchase, donation, bequest, devise, lease, <br />exchange, or other contractual agreement, from or with any person, including any governmental <br />entity, such water, water rights, or interests in water in such amount as the board determines is <br />appropriate for stream flows or for natural surface water levels or volumes for natural lakes to <br />preserve or improve the natural environment to a reasonable degree. At the request of any <br />person, including any governmental entity, the board shall determine in a timely manner, not to <br />exceed one hundred twenty days unless further time is granted by the requesting person or entity, <br />what terms and conditions it will accept in a contract or agreement for such acquisition. Any <br />contract or agreement executed between the board and any person or governmental entity that <br />provides water, water rights, or interests in water to the board shall be enforceable by either party <br />thereto as a water matter under this article, according to the terms of the contract or agreement. <br />The board may not accept a donation of water rights that either would require the removal of <br />existing infrastructure without approval of the current owner of such infrastructure or that were <br />acquired by condemnation. - ~ - - -~ = ~ ' ~- ~ -a = <br />- - - ~ -The board may initiate such applications as it determines are <br />necessary or desirable for utilizing water, water rights, or interests in water appropriated, <br />acquired, or held by the board, including applications for changes of water rights, exchanges, or <br />augmentation plans. Prior to the initiation of any such appropriation or acquisition, the board <br />shall request recommendations from the division of wildlife and the division of parks and <br />outdoor recreation. The board also shall request recommendations from the United States <br />department of agriculture and the United States department of the interior. Nothing in this article <br />shall be construed as authorizing any state agency to acquire water by eminent domain or to <br />deprive the people of the state of Colorado of the beneficial use of those waters available by law <br />and interstate compact. Nothing in this subsection (3) shall impact section 37-60-12I (2.5). Any <br />appropriation made pursuant to this subsection (3) shall be subject to the following principles <br />and limitations:... . <br />2 <br />