§ 37-83-106 — Authority of political subdivisions to lease or exchange water

Water conservancy districts and water conservation districts which own or hold
rights to water may enter into cooperative agreements with other political
subdivisions of the state for the lease or exchange of water produced in the
exercise of such district's water rights and the construction or use of waterworks
within or outside of district boundaries, according to such terms as such district and
political subdivision agree upon. Conservation districts, conservancy districts, and
other political subdivisions of the state may enter into agreements with each other
to provide funds or undertake measures to carry out section 37-45-118 (1)(b)(II),
including agreements for the exchange or lease of such water outside the
boundaries of the conservation or conservancy district. Such leases and exchanges
may cover the time period necessary to amortize, or repay bonds issued for, the
cost of constructing the waterworks involved, and may be renewable according to
such terms as such district and political subdivision may agree upon. Any water
rights leased or exchanged under this section shall be only for the time certain
contained in each such agreement or extension thereof. Any water rights or
changes of water rights which are necessary to implement such agreements shall
be adjudicated as provided by law. If mutually agreeable, districts and other
political subdivisions may submit any contractual disputes arising under this
section between them to nonbinding arbitration, as they may determine.

Legislative History

Source: L. 89: Entire section added, p. 1420, � 1, effective April 12. L. 2001: Entire section amended, p. 1278, � 50, effective June 5.