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The Board shall file a change of water ri.~pplication or other application with the <br />water court to obtain a decreed right to use water for ISF purposes under a contract or <br />agreement for a lease or loan of water, water rights or interests in water under section 37- <br />92-102(3). The resulting water court decree shall <br />1) quantify the historical consumptive use of the leased or loaned water right; and <br />2) determine the method by which the historical consumptive use should be quantified <br />and credited during the term of the agreement for the lease or loan of the water right. <br />Said method shall recognize the actual amount of consumptive use available under <br />the leased or loaned water right and shall not result in a reduction of the historical <br />consumptive use of that water right during the term of the lease or loan, except to the <br />extent such reduction is based upon the actual amount of water available under <br />said ri. <br />6f. Limitation on Acquisitions. The Board may not accept a donation of water rights that <br />would require the removal of existing infrastructure without approval of the current <br />owner of such infrastructure, or a donation of water rights that were acquired by <br />condemnation. <br />6g. Temporary Loans of Water to the Board. The Board may accept loans of water for <br />instream flow use for a period not to exceed 120 days in any one year, in accordance with <br />the procedures and subject to the limitations set forth in section 37-83-105, C.R.S. <br />(1) Within 5 working days after receiving an offer of a loan of water to the Board for <br />temporary instream flow use, the Director will provide a response to the proponent and, <br />unless the proposed loan has no potential value for instream flow use, staff will <br />coordinate with the proponent on preparing and submitting the necessary documentation <br />to the State and Division Engineers required by sections 37-83-105(2)(a)(I) and (2)(b)(I), <br />C.R.S., and providing the public notice required by section 37-83-105(2)(b)(II), C.R.S. <br />(2) Provided that the State Engineer has made a determination of no injury pursuant <br />to section 37-83-105(2)(a)(III), C.R.S., the Board hereby delegates authority to the <br />CWCB Director to accept loans of water for instream flow use in accordance with the <br />procedures and subject to the limitations set forth in section 37-83-105 and to take any <br />administrative action necessary to put the loaned water to instream flow use. In <br />subsequent years, and provided that the State Engineer's determination of non-injury is <br />still in effect, the Director shall notify the proponent and the State Engineer whether the <br />loan is to be exercised. Such notification shall be provided within 5 working days of the <br />Director being notified by the proponent that the water is available for use under the loan. <br />The CWCB's use of loaned water for instream flows shall not exceed the CWCB's <br />decreed instream flow amount or CWCB's decreed instream flow reach at any time <br />during the loan term, and shall comply with any terms and conditions imposed by the <br />State Engineer to prevent injury. The purpose of this delegation is to expedite use of <br />loaned water for instream flows by the Board. <br />(3) At the first regular or special Board meeting after the Director accepts or rejects <br />an offer of a loan of water to the Board for temporary instream flow use under (1) or (2) <br />above, the Board shall vote either to ratify or overturn the Director's decision. <br />(4) The Board, Director and staff will expedite all actions necessary to implement <br />Rule 6g. <br />