BOARD00248

• Board Meeting Date: 2/13/2001
• Description: Pending and Proposed Legislation - SB 01-161, Water Study/Water Bank
• Board Meetings - Doc Type: Memo

.

.

.

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27

A PRECONDITION OF COMPLETING A TRANSACTION WITH TIIE BANK.
(2) SALES, LEASES, LOANS, AND EXCHANGES EFFECTUATED
THROUGH A WATER BANK SHALL NOT REQUIRE ADJUDICATION PURSUANT
TO ARTICLE 92 OF TIllS TITLE, AND THE STATE ENGINEER SHALL GIVE FULL
RECOGNITION TO AND SHALL ADMINISTER SUCH SALES, LEASES, LOANS, AND
EXCHANGES NOTWITHSTANDING THE FACT THAT TIIEY MA YNOTHA VEBEEN
ADJUDICATED; EXCEPT THAT, IF TIIE STATE ENGINEER RECEIVES A
REFERRAL PURSUANT TO PARAGRAPH (d) OF SUBSECTION (1) OF nus
SECTION, OR IF TIIE STATE ENGINEER HAS REASON TO BELIEVE THAT AN
ENTITY HAS FAILED TO SUBSTANTIALLY COMPLY WITH TIIE TERMS OF ANY
CONCURRENCY MANAGEMENT PLAN WITH WHICH THE ENTITY HAS AGREED
TO COMPLY AS A PRECONDITION OF COMPLETING A 1RANSACTION WITH A
WATER BANK, TIIE STATE ENGINEER MAY TAKE ANY APPROPRIATE
ADMINISTRATIVE ACTION PURSUANT TO TIIE PROVISIONS OF TIllS TITLE.
(3) A WATER BANK MAY NOT ACCEPT A DEPOSIT OF WATER FROM
A W ATERDIVISIONOTIIER THANTHEW ATERDIVISIONINWHICHTIIEW ATER
BANK IS CHARTERED UNLESS THE DEPOSIT HAS BEEN WITlIDRAWN FROM
ANOTHER WATER BANK CHARTERED IN THE WATER DIVISION FROM WHICH
TIIE WATER ORIGINATED.
37-80.5-106. Cessation of operations - surrender of charter. A
WATER BANK THAT CEASES OPERATIONS AFTER COMPLYING WITH SECTION
29-1-204.2 (2) (d), C.R.S., SHALL SURRENDER ITS CHARTER TO THE
COLORADO WATER CONSERVANCY BOARD PURSUANT TO SECTION
37-60-131 (3). ANY WATER REMAINING IN TIIE BANK THAT HAS NOT
ALREADY BEEN CREDITED AS A WITHDRAWAL SHALL REMAIN TlIEPROPERTY
OF TlIE WATER AUTHORITY, OR ITS CONSTITUENT ENTITIES, THAT FORMED
TlIE WATER BANK.

-20-

SBOI-161