LEG00158

• Bill Number: SB01-161
• Year: 2001
• Title: Concerning Methods for Increasing the Supply of Available Water, and, in connection therewith, Directing the Colorado Water Conservation Board to Study Water Supply Demands and Alternatives for Meetin
• Legislation - Doc Type: Other CWCB Related Bills - Killed

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ARTICLE 80.5

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Water Banks

37-80.5-101. Short title. THIS ARTICLE SHALL BE KNOWN AND

MAY BE CITED AS THE "COLORADO WATER BANK ACT",

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37-80.5-102. Legislative declaration. THE GENERAL ASSEMBL Y
HEREBY I'INDS, DETERMINES, AND DECLARES THAT THE PURPOSE OF THIS

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ARTICLE IS TO AUTHORIZE WATER BANKS TO BE OPERATED UNDER STRICT

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PARAMETERS WITHOUT THE NEED FOR ADJUDICATION, THE WATER BANKS

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AUTHORIZED BY THIS LEGISLATION ARE INTENDED TO SIMPLIFY AND

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IMPROVE THE EFFICIENCY OF THE APPROVAL OF WATER SALES, LEASES,
LOANS, AND EXCHANGES OF WATER WITHIN EACH OF THE STATE's SEVEN

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WATER DIVISIONS, REDUCE THE COSTS ASSOCIATED WITH SUCH

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TRANSACTIONS, ENHANCE THE EFFICIENCIES OF WATER DISTRIBUTION AND

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USE, AND INCREASE THE AVAILABILITY OF WATER-RELATED INFORMATION,

THE GENERAL ASSEMBLY AFFIRMS THE STATE CONSTITUTION'S

RECOGNITION OF WATER RIGHTS AS A PRIVATE USUFRUCTUARY PROPERTY

RIGHT, AND THIS ARTICLE IS NOT INTENDED TO RESTRICT THE ABILITY OF

THE HOLDER OF A WATER RIGHT FROM SELLING, LEASING, OR EXCHANGING

THAT WATER RIGHT IN ANY OTHER MANNER THAT IS CURRENTLY

PERMITTED UNDER COLORADO LAW, NOR IS THIS ARTICLE INTENDED TO BE

IMPLEMENTED IN ANY WAY THAT WOULD INJURIOUSLY AFFECT THE OWNER

OF OR PERSONS ENTITLED TO USE WATER UNDER A VESTED WATER RIGHT OR

A DECREED CONDITIONAL WATER RIGHT,

37-80.5-103. Definitions. As USED IN THIS ARTICLE, UNLESS THE

CONTEXT OTHERWISE REQUIRES:
(1) (a) "CONCURRENCY MANAGEMENT PLAN" MEANS TERMS AND

CONDITIONS IMPOSED BY A WATER BANK AS A PRECONDITION OF A

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8BOI-161