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<br />or a decreed conditional water right. In cases in which a statement of opposition has been filed, the applicant <br />shall provide to the referee or to the water judge, as the case may be, a proposed ruling or decree to prevent such <br />injurious effect in advance of any hearing on the merits of the application, and notice of such proposed ruling or <br />decree shall be provided to all parties who have entered the proceedings. If it is determined that the proposed <br />change or plan as presented in the application and the proposed ruling or decree would cause such injurious effect, <br />the referee or the water judge, as the case may be, shall afford the applicant or any person opposed to the <br />application an opportunity to propose terms or conditions whieh THAT would prevent such injurious effect. IN <br />DETERMINING WHETHER A PROPOSED CHANGE OF WATER RIGHT OR PLAN FOR AUGMENTATION, INCLUDING <br />WATER EXCHANGE PROJECT, WILL INJURIOUSLY AFFECT THE OWNER OF OR PERSONS ENTITLED TO USE WATER <br />UNDER A VESTED WATER RIGHT OR A DECREED CONDITIONAL WATER RIGHT, THE REFEREE AND WATER JUDGE <br />SHALL TREAT A CONSERVED WATER CERTIFICATE ISSUED BY THE STATE ENGINEER PURSUANT TO SECTION <br />37-80-121 (4) (b) (II) AS CREATING REBUTTABLE PRESUMPTIONS REGARDING, AS OF THE DATE OF ISSUANCE OF <br />THE CONSERVED WATER CERTIFICATE: <br />(a) THE AMOUNT OF WATER THAT WAS AVAILABLE TO THE APPLICANT FOR A PROPOSED CHANGE OF <br />WATER RIGHT OR PLAN FOR AUGMENTATION, INCLUDING WATER EXCHANGE PROJECT, WITHOUT INCREASING THE <br />APPLICANT'S HISTORIC USE; AND <br />(b) THE FACT THAT THE WATER RIGHT SUBJECT TO THE CONSERVED WATER CERTIFICATE HAD BEEN <br />PUT TO A BENEFICIAL USE UNDER REASONABLY EFFICIENT PRACTICES TO ACCOMPLISH WITHOUT WASTE THE <br />PURPOSE FOR WHICH THE APPROPRIA TION WAS LA WFULL Y MADE. <br />SECTION 8. Water eonservation project loan authorization from the Colorado water <br />conservation board constrnction fnnd. Pursuant to section 37-60-122, Colorado Revised Statutes, the Colorado <br />water conservation board is hereby authorized to loan moneys to enable applicants for conserved water <br />certificates to be issued by the state engineer pursuant to section 37-80-121, Colorado Revised Statutes, to finance <br />water conservation projects. <br />SECTION 9. Effective date - applicability. Section 1 ofthis act shall take effect January 1,2003, and <br />shall apply to water transport occurring on or after said date. Sections 2 to 10 of this act shall take effect upon <br />passage. <br />SECTION 10. Safety clause. The general assembly hereby finds, determines, and declares that this <br />act is necessary for the immediate preservation of the public peace, health, and safety. <br /> <br />41 <br />