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<br />S.B. No. 1030 <br /> <br />1 <br /> <br />1!) "Water right" means a right acquired or authorized <br /> <br />2 under the laws of this state to impound, divert, or use state <br />3 water, underqround water, or water from any source to the extent <br />4 authorized by law. <br /> <br />5 <br />6 <br /> <br />Sec. 15.702. CREATION OF BANK. The Texas Water Development <br /> <br />Board shall establish the Texas Water Bank. <br /> <br />The board shall <br /> <br />7 administer the water bank to facilitate the transfer of water from <br /> <br />8 all sources as necessary to provide sources of adequate water <br /> <br />9 supplies for use within the State of Texas. <br /> <br />10 <br /> <br />Sec. 15.703. OPERATION OF THE BANK1 RULES. (al The board <br /> <br />11 may take all actions necessary to operate the water bank and to <br /> <br />12 facilitate the transfer of water rights from the water bank for <br /> <br />13 future beneficial use includinG but not limited to: <br /> <br />14 <br /> <br />(II neGotiatinG a sale price and terms acceptable to <br /> <br />15 the depositor and purchaser; <br /> <br />16 <br /> <br />(2) maintaininG a reGistry of water bank deposits and <br /> <br />17 those water users in need of additional supplies1 <br /> <br />18 <br /> <br />J3) informing water users in need of additional supply <br /> <br />19 of water rights available in the bank; <br /> <br />20 <br /> <br />(4) encouraging water right holders to implement water <br /> <br />21 conservation practices and deposit the riGht to use the conserved <br />22 water into the bank; <br /> <br />23 <br /> <br />J5) establishing requirements for deposit of a water <br /> <br />24 right into the water bank including minimum terms for deposit 1 <br /> <br />25 <br /> <br />(6) purChasing, hOlding, and sellinG water rights in <br /> <br />2 <br />.... <br />