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• the reach of stream or lake level for which the use of the acquired water is <br />proposed, `which may be based upon any one or a combination of the <br />following: the historical point of return flow; the length of the existing <br />instream flo«T reach, where applicable; the environment to be preserved or <br />improved by the proposed acquisition; or such other factors the Board may <br />identify. <br />• the natural flo«~ regime, <br />• any potential material injury to existing decreed water rights, <br />• the historical use and historical return flow patterns of the water right <br />proposed for acquisition, <br />• the natural environment that may be preserved or improved by the proposed <br />acquisition, <br />• the location of other water rights on the subject stream, <br />• the effect of the proposed acquisition on any relevant interstate compact issue, <br />• the effect of the proposed acquisition on the maximum utilization of the <br />v~~aters of the state, <br />• v~-hether the ~;pater acquired «~ill be available for subsequent use dov~~nstream, <br />• and:'or the cost to complete the transaction or any other associated costs. <br />The Board shall also determine how to best utilize the acquired v~~ater, water rights or <br />interest in water to preser~°e or improve the natural environment. <br />In addition to considering the factors listed above, for loans and leases of water, water <br />rights and interests in water for ISF purr oses under section 37-92-102(3). <br />1) The Board shall consider the extent to which the leased or loaned water will preserve <br />or improve the natural environment to a reasonable degree. <br />2) The Board shall obtain confirmation from the Division Engineer that the proposed <br />lease or loan is administrable and is capable of meeting all applicable statutory <br />requirements. <br />3) The Board shall calculate the amount of compensation paid to the lessor of the water <br />based upon the use of the «rater after the term of the lease. <br />All contracts or agreements for leases or loans of water. water rights or interests in water <br />under section 37-92-102(3) shall <br />1) Require the Board to <br />a. maintain records of how much water the Board uses under the contract or <br />agreement each year it is in effect; and <br />b. install any measuring device(s) deemed necessar~y the Division Engineer to <br />administer the lease or loan of water and to measure and record how much water <br />flo«-s out of the reach after use by the Board under the lease or loan. <br />2) Provide that, pursuant to the water court decree implementing the contract or <br />agreement. either the lessor :lender of the water or the Board may brin ag_ bout <br />beneficial use of the leased i loaned water right downstream of the ISF reach as fully <br />consumable reusable water. <br />