BOARD02492

• Board Meeting Date: 5/23/2005
• Description: Status of Legislation
• Board Meetings - Doc Type: Memo

following:

(IV) A LOAN APPROVED PURSUANT TO THIS PARAGRAPH (a) SHALL
NOT BE EXERCISED FOR MORE THAN THREE YEARS IN A TEN-YEAR PERIOD,
FOR WHICH ONLY A SINGLE APPROVAL BY THE STATE ENGINEER IS REQUlRED.
THE TEN-YEAR PERIOD SHALL BEGIN WHEN THE STATE ENGINEER APPROVES
THE LOAN. THE STATE ENGINEER SHALL NOT APPROVE A LOAN PURSUANT TO
THIS PARAGRAPH (a) FOR ANOTHER TEN-YEAR PERIOD; EXCEPT THAT, IF THE
AGREEMENT HAS NOT BEEN EXERCISED DURING THE TERM OF THE
AGREEMENT, AN APPLICANT MAY REAPPLY ONE TIME BY REPEATING THE
APPLICATION PROCESS PURSUANT TO THIS SUBSECTION (2).

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(V) A P ARTY MAY FILE COMMENTS CONCERNING POTENTIAL INJURY
TO SUCH P ARTY'S WATER RIGHTS OR DECREED CONDITIONAL WATER RIGHTS
DUE TO THE OPERATIONS OF THE LOAN OF A WATER RIGHT TO A DECREED
INSTREAM FLOW RIGHT WITH THE STATE ENGINEER BY JANUARY 1 OF THE
YEAR FOLLOWING EACH YEAR THAT THE LOAN IS EXERCISED. THE
PROCEDURES OF PARAGRAPH (b) OF THIS SUBSECTION (2) REGARDING
NOTICE, OPPORTUNITY TO COMMENT, THE STATE ENGINEER'S DECISION, AND
AN APPEAL OF SUCH DECISION SHALL AGAIN BE FOLLOWED WITH REGARD TO
SUCH PARTY'S COMMENTS.

SECTION 2. Effective date - applicability. (1) This act shall take
effect at 12:01 a.m. on the day following the expiration of the ninety-day
period after fmal adjournment of the general assembly that is allowed for
submitting a referendum petition pursuant to article V, section 1 (3) of the
state constitution (August 10,2005, if adjournment sine die is on May 11,
2005); except that, if a referendum petition is filed against this act or an
item, section, or part of this act within such period, then the act, item,
section, or part, if approved by the people, shall take effect on the date of
the official declaration of the vote thereon by proclamation of the governor.

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PAGE 2-HOUSE BilL 05-1039

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