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~ the reach of stream or lake level for which the use of the acquired water is proposed, which may be based upon any one or a combination of the following: the historical point of return flov~ ; the length of the existing instream flow reach, where applicable; the environment to be preserved or improved by the proposed acquisition; or such other factors the Board may identify. ~ the natural flow regime, ~ any potential material injury to existing decreed water rights, ~ the historical use and historical return flow patterns of the water right proposed for acquisition, ~ the natural environment that may be preserved or improved by the proposed acquisition, ~ the location of other water rights on the subject stream, ~ the effect of the proposed acquisition on any relevant interstate compact issue, ~ the effect of the proposed acquisition on the maximum utilization of the waters of the state, ~ whether the water acquired will be available for subsequent use downstream, ~ and/or the cost to complete the transaction or any other associated costs. The Board shall also determine how to best utilize the acquired water, water rights or interest in water to preserve or improve the natural environment. In addition to considering the factors listed above_ for loans and leases of water_ water rights and interests in water for ISF purposes under section 37-92-102(3), 1) The Board shall consider the extent to which the leased or loaned water will preserve or improve the natural environment to a reasonable de ee. 2) The Board shall obtain confirmation from the Division Engineer that the proposed lease or loan is administrable and is capable of meetin~p~licable statutory requirements. 3) The Board shall calculate the amount of compensation paid to the lessor of the water based upon the use of the water after the term of the lease. All contracts or agreements for leases or loans of water, water rights or interests in water under section 37-92-102(3 shall 1) Require the Board to a. maintain records of how much water the Board uses under the contract or agreement each year it is in effect; and b. install any measuring device(s) deemed necessary the Division Engineer to administer the lease or loan of water and to measure and record how much water flows out of the reach after use by the Board under the lease or loan. 2) Provide that, pursuant to the water court decree implementing the contract or agreement, either the lessor /lender of the water or the Board may brim beneficial use of the leased /loaned water right downstream of the ISF reach as fully consumable reusable water.