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t <br />• <br />_ {~ } Thee Board shat: obtain conf rmation from the Division Engineer that the proposed lease <br />cr lean is administrable and is caoable of meeting all applicable statutory requirements. <br />_ {~ Ti-ie Board shah calculate and determine the amount of compensation paid to the lessor <br />of the x,rater based, in pad. upon the use of the water during and after the term of the lease. <br />{ci ~ he Board shall consider the historical record{s) of diversion. the beneficial use of the <br />subject .eater right, the location ~~~here return flows have historically returned to the stream, the <br />locations of other water users on the subject reach of stream. and the reason{s) the water is <br />available for lease or loan. <br />fig, Recording Requirements, <br />Y,il contracts or agreements for leases or loans of water, water rights or interests in water under section <br />37-OZ-102{31 shall require the Board to: <br />1 Pv9aintain records of how much water the Board uses under the contract or agreement <br />each year it i5 n effect: and <br />~2= Install any measuring device{s1 deemed necessary by the Division Engineer (a) to <br />administer the lease or loan of water and {bi to measure and record how much 4vater flows out of <br />the reach after use by the Board under the lease or loan. <br />fih, Water Reuse, <br />HIl contracts or agreements for the acquisition of water, water rights or interests in water under section <br />37 ~2-102= 3) shall proy=de that t~'~e Board or the seller. lessor. lender or donor of the water may bring <br />about beneficial use of +he ~~stcrical consumptive use of the acquired water right downstream of the ISF <br />reach as fully consumable reusable :vatei-,_~ursuant to the water court decree authorizing the Baard to <br />use the acquired water <br />{ ~ ~ : he bringing about of beneficial use of the historical consumptive use of the water may <br />ba ac~iever! by direct use =ale leas. loan or other contractual arrangemen± by the Board or the <br />seller. lessor, lender or donor. <br />~; The con~ract or agreement also shall provide that the Division Engineer must be notified <br />of ar•-y aq~eement for such beneficial use downstream of the 1SF reach prior to the use. <br />t 3? Prior to any beneficial use by the Baard of the historical consumptive use of the acquired <br />n:-ater right downstream of the ISF reach. the Board shall find that such use: <br />jai v"°ill be consistent with the Board's statutory authority and with duly adopted Baard <br />policies and objectives. and <br />{b 1~"Lull not injure vested water rights or decreed conditional water rights. <br />fii. Change of Water Right. <br />The Board shall rile a change of water right application or other application with the water court to obtain a <br />dFCra°d right +o use water for lSF purposes under ail contracts or agreements for acquisitions of water. <br />ova±°r ric his or interests in t~iater under section 37-92-102{3i, including leases and loans of water. The <br />Board may file aoint application to change a water right with the Person from whom the Board has <br />acqu€-red tree lYrater or a Person 4rho has facilitated the acquisition. The il'Vater Court shall determine <br />matters that are within the scope of section 37-92-305. C.R.S_ In the change of water right proceeding. <br />the Board shall request the'-:"-dater Court to: <br />