Colorado Water
Here's a short article, about a decision that effects the transfer of water rights, from the Rocky Mountain News [July 8, 2004, "Contract required in water transfers"]. From the article, "A state judge has dealt a setback to water speculators, ruling they cannot seek to reclassify water rights from agricultural to municipal unless they have a contract to sell them. State Water Judge Dennis Maes' ruling last week means cities and others that want to buy agricultural water rights would have no guarantee that the water court would give approval, experts said."
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