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<br />(3) "EXECUTIVE DIRECTOR" MEANS THE EXECUTIVE DIRECTOR OF <br />THE DEPARTMENT OF NATURAL RESOURCES. <br />(4) "PERMITTING AUTHORITY" MEANS ANY PUBLIC AGENCY <br />AUTHORIZED BY LAW TO ISSUE A PERMIT OR CERTIFICATION WHICH MAY <br />REQUIRE COMPENSATORY MITIGATION. <br />(5) "PROGRAM" MEANS THE RESOURCE MITIGATION BANKING <br />PROGRAM. <br />(6) "PROJECT PROPONENT" MEANS A PERSON WHO APPLIES FOR A <br />PERMIT OR CERTIFICATION FOR A PROJECT WHICH MAY ADVERSELY <br />IMPACT A RESOURCE AND WHO SEEKS TO COMPENSATE FOR THE LOSS OF <br />THE RESOURCE THROUGH PARTICIPATION IN THE BANK. <br />(7) "RESOURCE" MEANS, FOR PURPOSES OF THIS ARTICLE, A <br />NATURAL RESOURCE WHICH MAY BE CONSIDERED UNDER A GOVERNMENTAL <br />PERMITTING PROCESS WHERE MITIGATION MAY BE REQUIRED, AS WELL <br />AS ANY PUBLIC RECREATION WHICH MAY BE INVOLVED IN SUCH A <br />PERMITTING PROCESS. <br />(8) "RESOURCE MITIGATION SITE" MEANS A SPECIFIC LOCATION <br />PROPOSED PURSUANT TO THIS ARTICLE AS A SITE FOR CREATING, <br />ENHANCING, OR PRESERVING A NATURAL RESOURCE OR PUBLIC <br />RECREATION; EXCEPT THAT A "RESOURCE MITIGATION SITE" SHALL NOT <br />INCLUDE A LOCATION WHERE AN EXISTING MULTIPLE USE WOULD BE <br />DISCONTINUED FOR THE PURPOSE OF CREATING, ENHANCING, OR <br />PRESERVING A NATURAL RESOURCE OR OTHER PUBLIC RECREATION. <br />37-85.5-104. Resource mitigation bank - creation - <br />duties of clerk and recorder. THERE I HEREBY CREATED AS <br />PART OF THE JOINT REVIEW PROCESS WITHIN THE OFFICE OF THE <br />EXECUTIVE DIRECTOR THE RESOURCE MITIGATION BANK. THE <br />RECORDATION OF INFORMATION NECESSARY TO DETERMINE DEBITS AND <br />CREDITS TO SUCH BANK SHALL BE MAINTAINED WITHIN THE OFFICE OF <br />THE EXECUTIVE DIRECTOR BY THE CLERK AND RECORDER OF THE BANK. <br />THE CLERK AND RECORDER SHALL RECORD OWNERSHIP OF POTENTIAL <br />CREDITS FOR AN APPROVED RESOURCE MITIGATION SITE WHEN PROVIDED <br />WITH PROOF OF SUCH OWNERSHIP SIGNED BY THE LAND OWNER OR LAND <br />MANAGEMENT AGENCY, AND WHEN A RESOURCE MITIGATION PROPOSAL HAS <br />BEEN APPROVED. BY THE EXECUTIVE DIRECTOR. UPON REQUEST AND <br />PAYMENT OF REASONABLE COSTS, THE CLERK AND RECORDER SHALL <br />FURNISH DOCUMENTARY EVIDENCE OF OWNERSHIP AS SHOWN UPON THE <br />RECORDS OF-THE BANK. THE INITIAL ENTRY FOR A POTENTIAL CREDIT <br />BY THE CLERK AND RECORDER SHALL DESCRIBE AND, IF APPROPRIATE, <br />QUANTIFY THE BASELINE VALUES OF RESOURCES AT THE SITE WHICH <br />ARE INTENDED TO BE CREATED, ENHANCED, OR PRESERVED. NOTHING <br />HEREIN SHALL BE CONSTRUED TO PROHIBIT THE MARKET TRANSFERS OF <br />BANKING CREDITS'OF AN APPROVED RESOURCE MITIGATION PROPOSAL. <br />(2) ENROLLMENT OF RESOURCES IN THE MITIGATION BANK IS <br />VOLUNTARY, AND RESOURCES MAY BE REMOVED BY THE OWNER AT ANY <br />PAGE 2-SENATE BILL 91-120