45-2624. Southside replenishment bank;
credits
A. The southside replenishment bank is established as a separate bank in the
records of the authority. The authority shall establish an account in the southside
replenishment bank for the community.
B. Beginning with the first calendar year in which this section becomes effective,
the authority shall annually deliver to the community in the manner provided in
subsection D of this section, and at no cost to the community, not less than one thousand
acre-feet of water acquired by the authority under chapter 14 of this title until the
community's account has a credit balance of fifteen thousand acre-feet. The authority
shall register one credit to the community's account for each acre-foot of water
delivered to the community under this subsection.
C. If any debit registered to the southside replenishment bank under section
45-2623, subsection C, paragraph 4 causes the community's account to have a credit
balance of less than five thousand acre-feet, the authority shall deliver water to the
community in the manner provided in subsection D of this section in an amount sufficient
to bring the balance up to at least five thousand acre-feet by the end of the calendar
year.
D. The authority shall enter into an intergovernmental agreement with the community
pursuant to title 11, chapter 7, article 3, which shall describe in detail the procedures
for the delivery of water to the community under this section, including the method by
which the community will schedule and order water that the authority is required to
deliver to the community under subsections B and C of this section. The procedures shall
not require the authority to deliver in any month more than eleven per cent of the water
required to be delivered during a year under subsection B of this section.
|