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<br />1809 <br /> <br />. It will be self-financing over the long run. <br />. It will remain viable during an unusually wet or dry year, <br />I <br /> <br />Legal Basis <br /> <br />Colorado law permits water banking. A water bank can operate on a temporary basis as authorized <br />by a substitute supply plan or can be permanently decreed. Operation on either basis requires <br />thorough engineering in advance and assurance that operation will not violate the provisions of the <br />Arkansas River Compact. <br /> <br />A. Temporary substitute supply plans <br /> <br />Temporary substitute supply plans are authorized by!C.R.S. 37-80..120 and 37.83..105. The State <br />Engineer must be satisfied that operation under the plan will not cause injury to other water users <br />and will comply with applicable laws. The usual pra'1tice of the State Engineer is to require that <br />water court approval be obtained within a reasonabI~ time. <br />! <br />, <br />A temporary substitute supply plan can provide an \:>pportunity for temporary operations and a <br />"testing" period to fine tune the water bank. Such a testing period, in conjunction with <br />comprehensive engineering analysis, may allay fears' of other water users about potential injury <br />resulting from water bank operations. Owners of other vested water rights have recourse through <br />the Office of the State Engineer. <br /> <br />B. Permanent decrees <br /> <br />I <br />A water bank would involve changes in the water rigjtts used as part of the bank. In this instance, <br />changes in type of use, changes in place of use, changes in place of diversion, exchanges, and new <br />rights to storage might be needed. To obtain permanent authorization to operate the bank, a decree <br />from the water court is required. <br /> <br />A water court decree can be obtained by making ap~lication to the water court. Interested parties <br />may file objections. Then negotiations and/or litigatidn will determine what conditions are necessary <br />to prevent injury to other water users, and to assur4 compliance with relevant laws, including the <br />Arkansas River Compact. Proof of non-injury will iequire comprehensive engineering analysis to <br />assure that historic return flows are not depleted. <br /> <br />A water bank appears to faII within the category of a plan for augmentation under Colorado statutes. <br />The definition of a plan for augmentation in C.RS. 37-92-103(9) is broad enough to accommodate <br />water banking: : <br /> <br />i <br />Plan for Augmentation means a detailed program to increase the supply of water <br />available for beneficial use. . . by the development of new or alternative means or <br />points of diversion, by a pooling of water resources, by water exchange projects, by <br /> <br />7-4 <br />