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<br />WATER BANK (STORAGE) PLAN 3 <br />"LONG-TERM" has arrived. Free water or cheap water era is gone. Realistic <br />pricing is called for to regulate demand. Anything that is not scarce has no <br />value. The IID is in the right place at the right time. Value is established, <br />based on economic loss, political chaos, and damage to society if a water pro- <br />vider does not meet his users' demand (MWD - San Diego - State Water Project - <br />Los Angeles - San Francisco). <br />1. FACT: A Water bank is a good offensive and defensive position. It <br />establishes leadership in water conservation and efficient use <br />while controlling the new water <br />2. FACT: Storage creates more water and a larger economic pie with new <br />options: <br />1. Conjunctive storage 4. Dry year(s) Insurance <br />2. Exchange agreements 5. EWAP - Earthquake <br />3. Special Use permits 6. Peaking Water <br />3. FACT: Water bank is a practical and timely idea. California is currently <br />planning a large bank in Kern County. <br />4. FACT: Water bank is not a new concept. During the 1976-1977 drought, <br />both California State Department of Water Resources and the Federal <br />Bureau of Reclamation operated temporary water banks--quite suc- <br />cessfully. <br />5. FACT: A water bank makes possible a transfer of water in emergency based <br />on planning--Emergency Water Assurance Plan (EWAP). It encourages <br />transfers, it creates more efficient use and maximizes benefits. <br />6. FACT: Drought insurance or dry year coverage is practical and respon- <br />sible. An idea whose time has come. Who could say no? <br />7. FACT: Water banking can be the basis for one-, five-, and even 50-year <br />planning. <br />8. FACT: A Water bank creates visibly, a known position and intent and sets <br />out rules (ours). This prevents legal opportunism by others (MWD).