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. . . AND ANY PERSON WHO HAS FILED A STATEMENT OF OPPOSITION TO SUCH APPLICANT'S APPLICATION. THE COURT SHALL GIVE FULL CONSIDERATION TO ANY SUCH AGREEMENT BEFORE ENTERING A JUDGMENT PURSUANT TO THIS SUBSECTION (17). SECTION 50 Article 80 of title 37, Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW SECTION to read: 37-80-121. Conserved water certificate - rules - definitions. (1) As USED IN THIS SECTION, "CONSERVED WATER" MEANS WATER DIVERTED PURSUANT TO AN ADJUDICATED WATER RIGHT THAT: (a) HAD HISTORICALLY BEEN PUT TO A BENEFICIAL USE UNDER REASONABLY EFFICIENT PRACTICES TO ACCOMPLISH WTTHOUT WASTE THE PURPOSE FOR WHICH THE APPROPRIATION W AS LAWFULLY MADE; AND (b) DUE TO IMPLEMENTATION OF A WATER CONSERVATION PROJECT: (I) WILL BE CONSERVED BY INCREASED EFFICIENCY IN THE MEANS OF DIVERSION, CONYEYANCE, STORAGE, APPLICATION, OR USE RESULTING IN DECREASED CONSUMPTIVE USE WHEN COMPARED WTTH THE APPROPRIATOR'S HISTORIC CONSUMPTIVE USE; AND (II) WILL NOT INJURIOUSLY AFFECT THE OWNER OF OR PERSONS ENTITLED TO USE WATER UNDER A VESTED WATER RIGHT OR A DECREED CONDITIONAL WATER RIGHT. (2) AN APPLICANT FOR A CONSERVED WATER CERTIFICATE PURSUANT TO THIS SECTION SHALL BE A HOLDER OF A DECREED WATER RIGHT AND SHALL SUBMIT TO THE STATE ENGINEER AN APPLICATION CERTIFIED BY THE APPLICANT AND BY A REGISTERED PROFESSIONAL ENGINEER THAT INCLUDES THE FOLLOWING PLANS AND SPECIFICATIONS: (a) ALL DECREES RELATING TO THE SUBJECT WATER RIGHT; (b) A DESCRIPTION OF THE APPLICANT'S WATER USE PROCEDURES PRIOR TO IMPLEMENTATION OF THE WATER CONSERVATION PROJECT, INCLUDING THE USE TO WHICH THE WATER HAS BEEN PUT, THE MANNER IN WHICH THE WATER HAS BEEN PUT TO USE, THE AMOUNT OF WATER DIVERTED, THE AMOUNT OF HISTORIC CONSUMPTlVE USE, AND THE AMOUNT AND LOCATION OF RETURN FLOW; (c) A DESCRIPTION OF THE APPLICANT'S WATER USE PROCEDURES AFTER IMPLEMENTATION OF THE WATER CONSERVATION PROJECT, INCLUDING THE MANNER IN WHICH THE WATER IS OR WTLL BE PUT TO USE, THE AMOUNT OF WATER THAT IS OR WILL BE CONSUMED, THE AMOUNT OF WATER THAT WTLL BE CONSERVED, THE AMOUNT AND LOCATION OF CURRENT OR ANTICIPATED RETURN FLOW, AND THE METHOD WHEREBY THE PROJECT WILL RESULT IN CONSERVED WATER; (d) A DESCRIPTION OF THE APPROXIMATE AVERAGE DEGREE OF WATER USE EFFICIENCY ACHIEVED BY WATER USERS WHOSE BENEFICIAL USE OF WATER IS THE SAME OR SIMILAR TO THAT OF THE APPLICANT; (e) THE AMOUNT OF MONEY SPENT OR TO BE SPENT BY THE APPLICANT ON THE CONSERVED WATER PROJECT; . . (f) ANy OTHER INFORMATION REQUIRED BY THE STATE ENGINEER BY RULE OR PURSUANT TO THE STATE ENGINEER'S REQUEST. IF THE STATE ENGINEER REQUESTS ADDITIONAL INFORMATION, THE APPLICANT SHALL SUPPLY THE INFORMATION WTTHIN THIRTY DAYS, OR THE STATE ENGINEER MAY REJECT THE APPLICATION. (g) A FILING FEE AS DETERMINED BY SECTION 37-80-110 (1) (e). (3) THE STATE ENGINEER SHALL ISSUE A CONSERVED WATER CERTIFICATE IF AN APPLICANT DEMONSTRATES TO THE SATISFACTION OF THE STATE ENGINEER THAT: (a) THE APPLICANT'S WATER USE PRACTICES PRIOR TO IMPLEMENTATION OF THE WATER CONSERVATION PROJECT WERE REASONABLE AND APPROPRIATE UNDER REASONABLY EFFICIENT PRACTICES TO ACCOMPLISH WTTHOUT WASTE THE PURPOSE FOR WHICH THE APPROPRIATION WAS LAWFULLY MADE; (b) THE APPLICANT'S WATER USE PRACTICES AFTER IMPLEMENTATION OF THE WATER CONSERVATION PROJECt ARE REASONABLE AND APPROPRIATE UNDER REASONABLY EFFICIENT PRACTICES TO ACCOMPLISH WTTHOUT WASTE THE PURPOSE FOR WHlCH THE APPROPRIATION IS LA WFULL Y MADE; (c) THE APPLICANT'S DIVERSION AND STORAGE OF WATER, BOTH lMMEDlATELY PRIOR TO AND AFTER IMPLEMENTATION OF THE WATER CONSERVATION PROJECT, ARE WTTHIN DECREED AMOUNTS AS DETERMINED BY THE INFORMATION THEN AVAILABLE TO THE STATE ENGINEER; (d) THE WATER CONSERVATION PROJECT WTLL RESULT IN CONSERVED WATER; (e) IMPLEMENTATION OF THE WATER CONSERVATION PROJECT WTLL NOT INJURIOUSLY AFFECT THE OWNER OF OR PERSONS ENTITLED TO USE WATER UNDER A VESTED WATER RIGHT OR A DECREED CONDITIONAL WATER RIGHT; AND