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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MONEYS COLLECTED AMONG THE ENTITIES IN THE COUNTY HAVING

BONDED INDEBTEDNESS IN PROPORTION TO THE PERCENTAGE OF THEIR

SHARE OF THE TOTAL OF SUCH INDEBTEDNESS.

(II) UNLESS THE COURT DETERMINES THAT A GREATER OR LESSER

PERIOD OF TIME WOULD BE APPROPRIATE BASED UPON THE EVIDENCE OF

RECORD, THE AMOUNT OF THE TRANSITION MITIGATION AND BONDED

INDEBTEDNESS PAYMENTS SHALL BE EQUAL TO THE TOTAL REDUCTION IN

REVENUES FOR A PERIOD OF THIRTY YEARS COMMENCING UPON THE DATE

OF INITIAL REDUCTIONS IN SUCH REVENUES AS A CONSEQUENCE OF THE

REMOVAL OF WATER ASSOCIATED WITH THE SIGNIFICANT WATER

DEVELOPMENT ACTIVITY.

(III) To THE EXTENT THAT THERE IS AN INCREASE IN THE PROPERTY

TAX OR BONDED INDEBTEDNESS REVENUES AFTER THE DATE OF THE

COMMENCEMENT OF THE PAYMENT OBLIGATIONS IDENTIFIED UNDER

SUB-SUBPARAGRAPHS (A) AND (B) OF SUBPARAGRAPH (I) OF THIS

PARAGRAPH (b) AS A CONSEQUENCE OF A CHANGE IN LAND USE AND

ACCOMPANYING MODIFICATION OF THE ASSESSED VALUATION OF THE

LAND, SUCH PAYMENT OBLIGATIONS SHALL BE CORRESPONDINGLY

REDUCED.

(IV) WHEN DETERMINING THE AMOUNT TO BE PAID PURSUANT TO

THIS PARAGRAPH (b), IF ANY, THE COURT SHALL TAKE INTO

CONSIDERATION ANY EVIDENCE OF A BENEFICIAL IMPACT TO THE COUNTY

FROM WHICH THE WATER IS TO BE DIVERTED AND SHALL ADJUST THE

AMOUNT OF THE PAYMENT ACCORDINGLY.

(C) PARAGRAPH (b) OFTHIS SUBSECTION (4.5) SHALL NOT APPLY

TO:

(I) ANY REMOV ALOF WATERINVOL VING W ATERRIGHTSOWNED BY

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