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<br />'. <br /> <br />* The last draft of the water bank rules was completed and mailed out on <br />January 14, 1994. <br /> <br />* The last informal information-gathering meeting on the draft rules was held <br />in Austin on January 27, 1994. <br /> <br />* The final draft of the bank rules was completed after changes suggested in <br />the Austin meeting on February 15, 1994. <br /> <br />* Draft rules were submitted to the register for publication on March 10, 1994. <br />Rules were published on March 18, 1994. The draft rules and hearing <br />announcement were mailed to the public for review and comment on March <br />24, 1994. <br /> <br />* The Texas Water Development Board was briefed on the status of the water <br />bank program on March 17, 1994. <br /> <br />* A public hearing was conducted for the proposed rules on April 4, 1994 in <br />Austin, Texas. One written and one oral comment were received. <br /> <br />* The Board considered and approved the new rules on April 21, 1994. <br /> <br />* The Bank became fully operational under TAC Chapter 359 on May 13, <br />1994. <br /> <br />* Water Bank forms were completed on May 26. 1994. To date the Board <br />Bank has had eight contacts, which have resulted in no deposits, no <br />withdrawals, and an unknown number of transfers. (It is important to recall, <br />however, that a certain amount of lag time is normal from the creation of a <br />framework for water marketing and the inception of actual transfer activity. <br />In California, for example, the enabling marketing legislation was in existence <br />for approximately ten years before any widespread water marketing activity <br />occurred. In that case, a drought spurred renewed interest in marketing as <br />a means of providing alternative water supplies.) <br /> <br />* The Draft Legislative Report on bank operations was developed with TPWD <br />and TNRCC participation in September and earty October of 1994. <br /> <br />* The Board was briefed on the Legislative Report findings on October 20, <br />1994. <br /> <br />* The Board favorably considered adoption of the Legislative Report for <br />submission to the Governor and Legislature at its November 17, 1994 <br />meeting. <br /> <br />* The Legislative Report is submitted to the Governor, Lieutenant Governor, <br />Speaker of the House. and members of the Legislature. (December 1994) <br /> <br />3 <br />