BOARD00378

• Board Meeting Date: 2/13/2001
• Description: Pending and Proposed Legislation - HB ?, Water Bank
• Board Meetings - Doc Type: Memo

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1/19/01

II UNEDITED and UNREVISED II

THAT IS CURRENTLY PERMITTED UNDER COLORADO LAW, NOR IS IT

INTENDED TO BE IMPLEMENTED IN ANY WAY THAT WOULD INJURIOUSLY

AFFECT THE OWNER OF OR PERSONS ENTITLED TO USE WATER UNDER A

VESTED WATER RIGHT OR A DECREED CONDITIONAL WATER RIGHT,
37-80.5-103. Definitions. As USED IN THIS ARTICLE, UNLESS THE
CONTEXT OTHERWISE REQUIRES:
(1) "BANK" MEANS THE WATER BANK CREATED IN SECTION
37 -80.5-104.

(2) "PROGRAM" MEANS THE ARKANSAS WATER BANK PILOT

PROGRAM,

37-80.5-104. Water bank - creation - duties of state engineer-
rules. (1) THERE IS HEREBY CREATED TIIE ARKANSAS WATER BANK PILOT
PROGRAM WITHIN THE OFFICE OFTIIE STATE ENGINEER. BY JANUARY 1,
2002, THE STATE ENGINEER SHALL PROMULGATE RULES NECESSARY OR
CONVENIENT FOR OPERATION OF TIIE PROGRAM IN ACCORDANCE WITH TIIE

FOLLOWING:
(a) THE STATE ENGINEER SHALL OPERATE TIIE BANK SO AS TO
AUTHORIZE, FACILITATE, AND PERMIT THE LEASE, EXCHANGE, OR LOAN OF
WATER WITHIN TIIE BASIN OF TIlE ARKANSAS RIVER LOCATED WITHIN
COLORADO, BUT SHALL NOT AUTHORIZE, FACILITATE, OR PERMIT TIIE
SALE OF WATER OR ANY TRANSFER THAT HAS TIIE EFFECT OF A

PERMANENT TRANSFER OF OWNERSHIP OF WATER;
(b) THE STATE ENGINEER SHALL NOT OPERATE TIIE BANK SO AS TO
AUTHORIZE, FACILITATE, OR PERMIT THE TRANSFER, LEASE, EXCHANGE,
LOAN, OR SALE OF WATER OUTSIDE OFTIIE BASIN OFTIIEARKANSAS RIVER
LOCATED WITHIN COLORADO;

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