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.' " Texas Water Dev. Board issued: May 13, 1994 page 1 of 1 BANKPART TEXAS WATER BANK PARTICIPANI' RESPONSIBILITIES The Texas Water Bank is an administrative entity created to provide a rreans by which potential buyers and sellers of water can locate one another. Authorized in J1.U1e of 1993 by the passage of Senate Bill 1030, it is administered by the Texas Water Development Board according to Water Bank Rules passed by the Board. The Water Bank is not an actual physical storage location for water, but can be likened to a "bulletin board", matching buyers with sellers so as to encourage marketing of water and/or water rights. The Water Bank does not usurp regulatory authority held by the Texas Natural Resource Conservation Ccmnission (1NRCC, formerly Texas Water Ccmnission), undergro1.U1d water conservation districts or authorities, or any other state or federal regulatory agency. Transfers through the Water Bank must comply with all appllcable law (Section ~359.4 of the Water Bank Rules) and with regulatory requirerrents ircposed by such la...... Partici~ts in the Water Bank are: 1) buyers interested in buying a water nght or tenporarily obtaining use of water under a water right, who must sul::mit a "Request for Registration as a Buyer" form and 2) sellers interested in selling their water right or a portion of that right or tenporarily leasing the use of water 1.U1der that right, who must sul:::mit either an "Application for Deposit" form or a "Request for Registration as a seller" form (either must be notarized). All sellers, whether depositing or not, must provide evidence of holdin~ a valid surface water right, or a valid groundwater withdrawal authonzation if within the jurisdiction of an underground water district or authority. A buyer and seller should note that their particular contemplated sale or lease is unique and a surface water right amendment or groundwater withdrawal authorization amendment may be necessary. The Water Bank recommends that, while negotiating a contract to sell or lease water or a water right, a buyer and/or seller should contact the appropriate regulatory agency(ies) to initially determine what amendment procedures may be necessary. The buyer and seller should rronitor the progress of the amendment procedure. The transfer of water or the water right is not complete tmtil all necessary regulatory approvals have been obtained (Section ~359.8(d) (1) of the Water Bank Rules). The Water Bank may serve as a broker or negotiator between a buyer and depositor ~ if both parties request such service (Section ~359 .12 of the Water Bacik Rules). Registration as a seller does not entitle the seller to protection from cancellation by the Texas Natural Resource Conservation Commission, since registered sellers are not depositors in the Texas Water Bank. WATER BANK RDLBS ARB PROVIDED WI'I'B THIS DNDOC'l'