2 CCR 402-12.5 - Limitations on the Water Bank

A. Leases, exchanges and loans of water through the Water Bank may only occur within Water Division 2 and cannot operate in a manner so as to increase water diverted from another water division as set forth in section 37-92-201, C.R.S.

B. Nothing in these rules shall be construed to authorize any lease, exchange, option, or loan of water below John Martin Reservoir to points of diversion or storage above John Martin Reservoir without the approval of the Arkansas River Compact Administration.

C. No transfer of water from the bank to instream flow uses as provided in section 37-92-102(3), C.R.S. is allowed except where such transfer, lease, loan, option, exchange or sale is to the Colorado Water Conservation Board.

D. The water bank shall not be used to export water out of state.

E. "Winter water" stored in Pueblo Reservoir shall only be bankable if deposited before August 1 following the winter storage program period during which such water was stored.

F. Article II "winter stored water" can be used in the water bank. No Article II "summer stored water" can be used in the bank.

G. Any deposit of water into the water bank and any leases, loans, options or exchanges through the water bank must comply with all state and/or federal:

1. statutory and regulatory requirements;

2. operating principles; and

3. contractual requirements governing the use of federally authorized projects in the Arkansas River basin to the extent such project facilities are utilized in banking operations.

Operations of the water bank shall not in any way harm or compromise the Fryingpan-Arkansas Project purposes as defined in the Fryingpan-Arkansas Project Act.

H. The bank shall operate within the existing requirements of Colorado water law, including the Arkansas River Compact, the Colorado Ground Water Management Act, (see sections 37-90-101, et seq. C.R.S.), and the Water Rights Determination and Administration Act (see sections 37-92-101, et seq., C.R.S.). However, upon approval by the State Engineer, adjudication of the temporary use of the water right is not required pursuant to sections 37-80.5-104(1)(a)(IV) and 104.5(1)(a)(III), C.R.S.

I. Ground water shall not be deemed bankable water for the Water Bank.

J. Leases, loans, options or exchanges of water may be for more than one year, subject to (1) appropriate terms and conditions to facilitate annual operation and administration by the State Engineer, and (2) available storage space and water supply, which may vary from year to year. No lease, loan, option or exchange can extend beyond date limitations set forth in any enabling legislation for the Water Bank.

Notes

2 CCR 402-12.5