BOARD00951

• Board Meeting Date: 3/24/2003
• Description: State Legislative Issues
• Board Meetings - Doc Type: Memo

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(5) IF A WATER RIGHTJS REPRESENTED BY SHARES IN A MUTUAL
DITCH OR RESERVOIR CaMP ANY, THE WATER RIGHT MAY BE ENCUMBERED
BY A CONSERVATION EASEMENT IN GROSS ONLY AFTER SIXTY DAYS'
NOTICE AND IN ACCORDANCE WITH THE APPLICABLE REQUIREMENTS OF
THE MUTUAL DITCH OR RESERVOIR COMPANY, INCLUDING, BUT NOT
LIMITED TO, ITS ARTICLES OF INCORPO~TiON AND BYLAWS AS AMENDED
FROM TiME TO TiME.
SECTION 3. 38-30.5-105, Colorado Revised Statutes, IS
amended to read:
38-30.5-105. Residual estate. All interests not transferred and
conveyed by the instrument creating the easement shall remain in the
grantor of the easement, including the right to engage in all uses of the
lands OR WATER RIGHTS affected by the easement whieh THAT are not
inconsistent with the easement or prohibited by the easement or by law.
SECTION 4. 38-30.5-107, Colorado Revised Statutes, is
amended to read:
38-30.5-107. Release - termination. Conservation easements in
gross may, in whole or in part, be released, terminated, extinguished, or
abandoned by merger with the underlying fee interest in the servient land
OR WATER RIGHTS or in any other marmer in which easements may be
lawfully terminated, released, extinguished, or abandoned.
SECTION 5. 38-30.5-110, Colorado Revised Statutes, IS
amended to read:
38-30.5-110. Other interests not impaired. No interest in real
property cognizable under the statutes, common law, or custom in effect
in this state prior to July I, 1976, nor any lease or sublease thereof at any
time, nor any transfer of a water right or any change of a point of

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