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Page 2 -Policy # 19 Expenditures for ISF Water Acquisitions PROCEDURE: The CWCB staff will proceed under ISF Rule 6 in bringing proposed water acquisitions to the Board. When a proposed acquisition will involve the expenditure of funds under section 37-60-123.7, C.R.S., staff will prepare for the Board's consideration a summary of the financial aspects of the proposal, including but not limited to a. where applicable, the lease or purchase price of water, water rights or interests in water for ISF use, which shall be supported by an appraisal; b. a breakdown of costs related to the proposal, such as 1) costs of preliminary evaluations of the feasibility of a temporary or permanent transfer of a water right for ISF use; 2) costs of historical consumptive use analyses of water rights; 3) costs of water rights appraisals; 4) costs of water rights title searches; and 5) costs related to negotiating and finalizing the agreement(s) necessary for the transaction. c. the amount of money staff is recommending that the Board spend on the proposal, and what costs the money will be applied to; d. the source of funds available to cover any remaining costs (for example, cost sharing by the water rights owner or a conservation group such as the Colorado Water Trust, Trout Unlimited or The Nature Conservancy); and e. any in-kind services provided by the water rights owner or a conservation group such as the Colorado Water Trust, Trout Unlimited or The Nature Conservancy. The primary priority for expenditures of these funds shall be the costs of water right acquisitions for existing or new ISF water rights to preserve the natural environment to a reasonable degree. These funds also may be used in limited circumstances for the costs of water acquisitions for ISFs to protect threatened and endangered species, support wild and scenic alternative management plans or assure federal regulatory certainty. Approved by the CWCB 2008 Board Meeting Agenda Item # 2