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<br />vi <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />'I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />4.3.4 Repeated Sealed-Bid Auctions Through the Season <br />4.3.5 Auctions for Water Rights <br />4.3.6 "Contingent" Water Markets <br />4.3.7 Future Markets <br />4.3.8 Other Market-Making Activities <br />4.3.9 Guaranteeing Performance on Trading Contracts <br /> <br />4.4 Conclusions Regarding Practical Water Bank Design <br /> <br />Appendix 4A Variability of Water Supply and the Farmer's Willingness-to-Sell <br /> <br />Appendix 4B. Model of Urban Water Demands <br /> <br />4.5 Third Party Effects of Water Banking <br /> <br />4.5.1 Types of Third Party Effects <br />4.5.1.1 Impacts on other water users <br />4.5.1.2 Local economic impacts <br />4.5.1.3 Impacts on environmental values <br />4.5.2 The Problem of Measurability <br />4.5.3 Options for Addressing Impacts <br />4.5.3.1 Impacts on other water uses <br />4.5.3.2 Local economic impacts <br />4.5.3.3 Impact on environmental values <br />4.5.4 Generalizations and Implications <br />4.5.4.1 Cross-cutting generalizations <br />4.5.4.2 Impacts on other water rights <br />4.5.4.3 Local economic impacts <br />4.5.4.4 Environmental impacts <br /> <br />Appendix 4C. Rand Study Tables <br /> <br />4.6 Creating Water Banks: Some Recommendations <br /> <br />4.6.1 State Authorization <br />4.6.2 Bank Design and Operation <br />4.6.3 A State Bank <br /> <br />Chapter 5 APPLYING OUR PRoPOSED FRAMEWORK <br /> <br />5.1 Interstate Lower Colorado River Water Bank <br /> <br />5.2 The Texas Water Bank <br /> <br />5.3 The Fort Lyon Water Bank <br /> <br />5.3.1 Summary of Proposed Bank <br />5.3.2 Comparing the Proposal and the Framework <br /> <br />Chapter 6 SUMMARY AND CONCLUSIONS <br />