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<br />1849 <br /> <br />The Board should rent water to bidders based on these rules: <br /> <br />i. Rent water to the highest price bidde~s. <br />ii. Do not rent water below cost in the March 5 bid opening. <br />I <br />iii. Allow renters from the prior year to h~ve a first right of refusal at the high bid price. <br /> <br />c. Enforcement of Lessor's Contracts - The FLCC shareholders who lease water to the water <br />bank must be effectively policed to assure that they are not continuing to use the water they <br />have leased to the bank. The lease agreement should: <br />i <br />i. Require a definite identification of thb field to be dried up. <br />ii. Require assurance that the field to bel fallowed was irrigated in the year before it is <br />leased to the water bank for the first time. <br />iii. Require that a water bank employee, visit each field fallowed during the growing <br />season. <br />iv. Authorize the FLCC superintendent to assure that lateral headgates have been <br />identified and adjusted as necessary. j <br />v. Assure that no credit is taken in relia~ce of Fry-Ark Project water historically used <br />on the field, and provide sufficient inf?rmation to the Southeastern Colorado Water <br />Conservancy District, through the FLCC, so that the Reclamation Reform Act <br />Compliance Plan of the FLCC continues to work smoothly. <br /> <br />Assurance of Return Flows - Other water rights users depend on the continuation of the <br />historic return flows from water historically ~pplied to fields from which water is leased to <br />the water bank. See the Return Flow Ana~is above. <br />I <br />j <br />Water Storage and Exchanges - In order to ~ay return flows and place water in storage for <br />delivery to renters, the water bank will nee~ to operate and to account for storage and <br />exchanges. <br /> <br />The water storage and exchanges will need tp be conducted in accord with these rules: <br />i <br />Exchanges must not cause injury to qther water rights. <br />Water stored must pay its share of eraporation. <br />Water delivered must pay proper tra~it losses in the streams, ditches and wasteways. <br />The water bank must not cause wate( belonging to FLCC shareholders to be lost or <br />diminished. <br />The water bank must pay operatin~ costs incurred by the FLCC as a result of <br />accommodating the water bank. i <br />The water bank must pay financial s~orage charges in Pueblo Reservoir. <br />The water bank must assure that futpre years' return flow obligations can be paid. <br />This is arranged in part through stor~ge of wet water, and in part through a financial <br />reserve which could be used to purchase water to pay return flow obligations if the <br />water bank did not have water to meet those obligations in its own accounts. <br /> <br />d. <br /> <br />e. <br /> <br />i. <br />ii. <br /> <br />iii. <br /> <br />iv. <br /> <br />v. <br /> <br />vi. <br /> <br />vii. <br /> <br />I <br />i <br />7-44 <br />