LEG00126

• Bill Number: SB03-115
• Year: 2003
• Title: Change of Agriculture Rights to Urban Areas
• Legislation - Doc Type: Other CWCB Related Bills - Passed

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REVENUES FOR PROPERTY THAT IS SUBJECT TO TAXATION BY AN ENTITY

LISTED IN SECTION 37-92-302 (3.5) THAT IS ATTRIBUTABLE TO A

SIGNIFICANT WATER DEVELOPMENT ACTIVITY. SUCH PAYMENT SHALL BE

MADE ON AN ANNUAL BASIS IN ACCORDANCE WITH THE REPAYMENT

SCHEDULE ESTABLISHED BY THE COURt UNLESS THE APPLICANT AND THE

TAXING ENTITIES MUTUALLY AGREE ON AN ALTERNATE PAYMENT

SCHEDULE. THE COUNTY SHALL CERTIFY, AS APPROPRIATE, TO THE

CHANGE APPLICANT EACH YEAR THE AMOUNT OF MITIGATION PAYMENT

DUE UNDER THIS SUBPARAGRAPH (1). ANY MONEYS COLLECTED PURSUANT

TO THIS SUB-SUBPARAGRAPH (A) SHALL BE DISTRIBUTED BY THE BOARD OF

COUNTY COMMISSIONERS OF THE COUNTY FROM WHICH WATER IS

REMOVED AMONG THE ENTITIES IN THE COUNTY IN PROPORTION TO THE

PERCENTAGE OF THEIR SHARE OF THE TOTAL OF PROPERTY TAXES FOR

NONBONDED INDEBTEDNESS PURPOSES.

(B) Bonded indebtedness payment, A BONDED INDEBTEDNESS

PAYMENT SHALL BE MADE ON AN ANNUAL BASIS IN THE SAME MANNER AS

MITIGATION PAYMENTS AND SHALL BE BASED ON THE BONDED

INDEBTEDNESS ON THE PROPERTY THAT IS TO BE REMOVED FROM

IRRIGATION AT THE TIME THE DECREE IS ENTERED. THE BONDED

INDEBTEDNESS PAYMENT SHALL BE EQUAL TO THE REDUCTION IN BOND

REPAYMENT REVENUES THAT IS ATTRIBUTABLE TO THE REMOVAL OF

WATER AS PART OF A SIGNIFICANT WATER DEVELOPMENT ACTIVITY. THE

COURT MAY IDENTIFY SUCH MITIGATION PAYMENT AS PART OF THE

DECREE. WHENEVER AN APPLICATION FOR DETERMINATION WITH RESPECT

TO A CHANGE OF WATER RIGHTS REQUIRES A PAYMENT PURSUANT TO THIS

SUB-SUBPARAGRAPH (B), THE BOARD OF COUNTY COMMISSIONERS OF THE

COUNTY FROM WHICH WATER IS REMOVED SHALL DISTRIBUTE ANY

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