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394 UNIVERSITY OF COLORADO LAW REVIEW [Vol. 55 <br /> 1967, the legislature only grudgingly granted authority to plan and <br /> study water resources, if at all. Colorado was more concerned with <br /> protecting its water for internal development than with telling its cit- <br /> izens how such water should be developed. <br /> The Colorado experience is in sharp contrast with the California <br /> Water Plan and the Central Valley Project in California." Califor- <br /> nia intended to build the state Central Valley Project in the early <br /> 1930's but failed only because its effort to sell revenue bonds was <br /> unsuccessful. As a result, California then turned to the federal gov- <br /> ernment for financing.18 The California Water Plan was approved by <br /> vote of the people in its initial stages in 1959 and constructed.1° Vot- <br /> ers rejected a later phase in 1982.20 <br /> The difference between the Colorado and California experience <br /> is apparent. California planned to build projects and intended to <br /> raise its own capital. Colorado, on the other hand, granted its state <br /> agencies limited authority to plan and build and intended for some- <br /> one else to put up the capital. <br /> It is no wonder Colorado state water plans were slow in coming. <br /> Those few local entities that could raise the funds built water <br /> projects — Denver, Aurora and Colorado Springs"- are examples. <br /> Those without capital turned to the federal government for planning <br /> and financing,22 aided by the Colorado Water Conservation Board. <br /> That was state policy. The federal government was simply another <br /> financer, albeit a big one, within Colorado's entrepreneurial water <br /> system. <br /> B. The Colorado Framework for Water Development <br /> It is almost ritual to recite that the Colorado Constitution <br /> makes the "water of every natural stream . . . the property of the <br /> public" and dedicates it "to the use of the people of the state." The <br /> water may be appropriated and put to beneficial use, with priority of <br /> 17. See I. H. Rogers & A. Nichols, WATER FOR CALIFORNIA Chs. II and III (1967). <br /> 18. Id. at 42. <br /> 19. Id. at 66. <br /> 20. WALL ST. J., June 10, 1982, at 24,col. 1. <br /> 21. See Metropolitan Water Users Ass'n v. Colo. River Water Cons. Dist., 148 Colo. <br /> 173, 365 P.2d 273 (1961); City and County of Denver v. Northern Colo. Water Cons. Dist., <br /> 130 Colo. 375,276 P.2d 992(1954);City and County of Denver v.Sheriff, 105 Colo. 193,96 <br /> P.2d 836 (1939). <br /> 22. See Colorado River Storage Project, 43 U.S.C. §§ 620-620(o)(1956); Frying Pan- <br /> Arkansas Project, Colorado, 76 Stat. 389 (1962); Colorado Big Thompson Project, 50 Stat. <br /> 595 (1937). <br />