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entitled to use water under a vested water right or a decreed conditional <br />«~ater right. In cases in which a statement of opposition has been filed, the <br />applicant shall provide to the referee or to the water judge, as the case may <br />be, a proposed ruling or decree to prevent such injurious effect in advance <br />of any hearing on the merits of the application, and notice of such proposed <br />ruling or decree shall be provided to all parties who have entered the <br />proceedings. If it is determined that the proposed change, contract, or plan <br />as presented in the application and the proposed ruling or decree would <br />cause such injurious effect, the referee or the water judge, as the case may <br />be, shall afford the applicant or any person opposed to the application an <br />opportunity to propose terms or conditions that would prevent such <br />injurious effect. <br />(b) DECREES FOR CHANGES OF WATER RIGHTS THAT IMPLEMENT A <br />CONTRACT OR AGREEMENT FOR A LEASE, LOAN, OR DONATION OF WATER, <br />WATER RIGHTS, OR II~TTERESTS IN WATER TO THE COLORADO WATER <br />CONSERVATION BOARD FOR INSTREAM FLOW USE UNDER SECTION 37-92-102 <br />(3) (b) SHALL PROVIDE THAT THE BOARD OR THE LESSOR, LENDER, OR DONOR <br />OF THE RTATER MAY BRING ABOUT BENEFICIAL USE OF THE HISTORICAL <br />GONSLTMPTIVE USE OF THE CHANGED WATER RIGHT DOWNSTREAM OF THE <br />INSTREAM FLOW REACH AS FULLY CONSUMABLE REUSABLE WATER, SUBJECT <br />TO SUCH TERMS AND CONDITIONS AS THE WATER COURT DEEMS NECESSARY <br />TO PREVENT INJURY TO VESTED WATER RIGHTS OR DECREED CONDITIONAL <br />WATER RIGHTS. <br />SECTION 4. Effective date -applicability. (1) This act shall take <br />effect at 12:01 a.m. on the day following the expiration of the ninety-day <br />period after final adjournment of the general assembly that is allowed for <br />submitting a referendum petition pursuant to article V, section 1 (3) of the <br />state constitution, (August 6, 2008, if adjournment sine die is on May 7, <br />2008}; except that; if a referendum petition is filed against this act or an <br />item, section, or part of this act within such period, then the act, item, <br />section, or part, if approved by the people, shall take effect on the date of <br />the official declaration of the vote thereon by proclamation of the governor. <br />PAGE ~-HOUSE BILL 08-1280 <br />