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<br />generally depicted in Figure 4. Water placed in this bank will be <br />on a willing seller/willing buyer basis and will be available for <br />use by each state in accordance with such regulations as <br />established by the forum in cooperation with the Bureau of <br />Reclamation. All transactions to transfer Colorado River water <br />interstate shall occur through the Water Bank among state parties <br />and the maximum price for all such transactions shall be set by the <br />forum. Water in the bank will be treated as non-Colorado River <br />System water and will be considered separate and apart from <br />Colorado River System water once it is purchased for the Water <br />Bank. In general, water purchased for the bank will be used to <br />offset the risk of future shortages and to meet water demands <br />during times of critical, unique, or emergency water supply <br />periods. Water sold to the Water Bank must be "wet" water and must <br />be sold to the bank on a year-to-year basis and not as a firm <br />annual supply. All water must be sold by a state to the forum and <br />will be divided among the willing state purchasers on a prorata <br />percent basis as follows: <br /> <br />Pro rata <br />Percentaae <br /> <br />Arizona <br />California <br />Colorado <br />Nevada <br />New Mexico <br />utah <br />Wyoming <br /> <br />20.6 <br />32.4 <br />23.5 <br />2.9 <br />4.4 <br />10.3 <br />5.9 <br /> <br />100.0 <br /> <br />If a state is interested in purchasing less than its prorata <br />percentage of water, its percentage basis shall be revised and the <br />prorata percentages of the other states increased proportionally <br />such that the total equals 100 percents. Water purchased from the <br />Water Bank may be placed in Colorado River System reservoir storage <br />or used directly by the purchasing entity. Additionally, water may <br />be obtained through the Water Bank as an option to purchase, if or <br />when the water is needed in the future. Water so obtained is <br />assumed to be purchased from the Water Bank in the year that the <br />purchase option is exercised. Once the water is purchased from the <br />Water Bank by a state and is placed into its account, the use of <br />the purchased water is at that state's discretion as long as it is <br />used within the purchasing state. The total quantity of Colorado <br />River sold to or water purchased from the Water Bank during anyone <br />year, including exercised purchase options, may not exceed 1.0 maf. <br />Water in each state's account as stored water may not exceed the <br />following specified amounts: <br /> <br />17 <br />