BOARD00251

• Board Meeting Date: 5/24/2004
• Description: ISF Section - Boulder Creek Water Right Acquisition ‎(Summit County)‎
• Board Meetings - Doc Type: Memo

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511112004 Draft

DRAFT Acquisition AQreement

The COLORADO WATER CONSERVATION BOARD (" the Board"), an agency of the
State of Colorado, and the COLORADO WATER TRUST ("the Trust"), a Colorado nonprofit
corporation, P.O. Box 9386, Denver, CO 80209, in consideration of the mutual promises
contained in this document, agree as follows:

RECITALS

WHEREAS, the CWCB is authorized by Section 37-92-102(3), C.R.S., to acquire from any
person, including any governmental entity, such water, water rights or interests in water as the
CWCB determines may be required for instream flows to preserve or improve the natural
environment to a reasonable degree and to take whatever action may be needed to ensure such
instream flows remain in the river; and,

WHEREAS, under Section 37-92-102(3), C.R.S., no person or entity other than the Board "shall
be granted a decree adjudicating a right to water or interests in water for instream flows in a
stream channel between specific points ... for any purpose whatsoever"; and,

WHEREAS, the Trust was organized as a nonprofit corporation to "acquire, or assist others in
acquiring, water rights, or interests in water rights, using voluntary approaches with willing
owners, for conservation benefits"; and,

WHEREAS, the Trust works within the framework of Colorado water law, interstate compacts
and equitable apportionments to accomplish its mission, and works in partnership with the
Board, the only entity authorized by state law to hold instream flow water rights; and,

WHEREAS, the Trust wishes to assist the Board in preserving and improving the natural
environment of Boulder Creek and the Blue River in Summit County; and,

WHEREAS, the Peabody Ditch and Lund Enlargement was decreed in Case Nos. CA-1277 and
W-1520 for irrigation use, and diverts water from Boulder Creek, a tributary to the Blue River in
Summit County to irrigate approximately 60 acres of pasture grass; and,

WHEREAS, the Trust has an option to purchase the Peabody #1 Ditch and Lund
Enlargement/Extension water rights from a willing seller; and,

WHEREAS, the Trust intends to exercise the option, subject to securing funds for the purchase
price, and donate the Peabody #1 Ditch and Lund Enlargement ("Donated Rights") to the Board
for instream flow use to preserve and improve the natural environment of Boulder Creek and the
Blue River in Summit County.

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