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<br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br /> <br />ARTICLE 80.5 <br />Water Banks <br />37-80.5-101. Short title. THIS ARTICLE SHALL BE KNOWN AND <br />MAYBE CITED AS THE "COLORADO WATER BANK ACT". <br />37-80.5-102. Legislative declaration. THE GENERAL ASSEMBLY <br />HEREBY FINDS, DETERMINES, AND DECLARES THAT THE PURPOSE OF THIS <br />ARTICLE IS TO AUTHORIZE WATER BANKS TO BE OPERATED UNDER STRICT <br />PARAMETERS WITHOUT THE NEED FOR ADJUDICATION. THE WATER BANKS <br />AUTHORIZED BY THIS LEGISLATION ARE INTENDED TO SIMPLIFY AND <br />IMPROVE THE EFFICIENCY OF THE APPROVAL OF WATER SALES, LEASES, <br />LOANS, AND EXCHANGES OF WATER WITHIN EACH OF THE STATE'S SEVEN <br />WATER DIVISIONS, REDUCE THE COSTS ASSOCIATED WITH SUCH <br />TRANSACTIONS, ENHANCE THE EFFICIENCIES OFW ATER DISTRIBUTION AND <br />USE, AND INCREASE THE A V AILABILITY OFW ATER-RELATED INFORMATION. <br />THE GENERAL ASSEMBLY AFFIRMS THE STATE CONSTITUTION'S <br />RECOGNITION OF WATER RIGHTS AS A PRIVATE USUFRUCTUARY PROPERTY <br />RIGHT, AND THIS ARTICLE IS NOT INTENDED TO RESTRICT THE ABILITY OF <br />THE HOLDER OF A W ATER RIGHT FROM SELLING, LEASING, OR EXCHANGING <br />THAT WATER RIGHT IN ANY OTHER MANNER THAT IS CURRENTLY <br />PERMITTED UNDER COLORADO LAW, NOR IS THIS ARTICLE INTENDED TO BE <br />IMPLEMENTED IN ANYW A YTHATWOULD INJURIOUSLY AFFECT THE OWNER <br />OF OR PERSONS ENTITLED TO USEW ATER UNDER A VESTED W ATER RIGHT OR <br />A DECREED CONDITIONAL WATER RIGHT. <br />37-80.5-103. Definitions. As USED IN THIS ARTICLE, UNLESS THE <br />CONTEXT OTHERWISE REQUIRES: <br />(I) (a) "CONCURRENCY MANAGEMENT PLAN" MEANS TERMS AND <br />CONDITIONS IMPOSED BY A WATER BANK AS A PRECONDITION OF A <br /> <br />-16- <br /> <br />SBOI-161 <br />