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<br />I <br /> <br />I <br /> <br />water rights under Colorado law. These issues do not fit into the <br />second category above, but they are important and of significant <br />interest to a large number of water users in the state. <br /> <br />I <br /> <br />Finally, one note of caution must be added. Throughout this <br />volume of legal studies, the words "public interest" or "public <br />interest values" will occur. The words were chosen for want of some- <br />thing better, and the meaning of the phrase is explained at length <br />in chapter IV in this volume. In general, the phrase is intended <br />to mean the economic or noneconomic values which are not taken into <br />account by the present water rights system, which is a private market <br />allocation system. As noted in chapter IV, the Colorado water rights <br />system includes some values, and wholly or partially excludes others~ <br />Those that are excluded are often referred to in this volume as <br />"public interest values." However, it should be reiterated that <br />use of the phrase does not mean that operation of the Colorado water <br />rights system is not "in the public interest" in the normal, broad <br />sense of that phrase. <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />xxi <br /> <br />I <br /> <br />I <br />