Storage and Parking Agreements
An agreement to store or park Colorado-Big Thompson Project allotment contract units violates Northern Water policies, the 1937 Water Conservancy Act and C-BT Project allotment contracts. An allottee holding a Class D allotment contract must own the land to which the allotment contract is attached.
Northern Water requires an allottee to complete an affidavit under oath before any allotment contract transfer. The affidavit requires an allottee to disclose any third-party interest in an allotment contract, or any agreement which could encumber the ownership of an allotment contract.
Inactive Allotment Contract Account
The Northern Water Board of Directors adopted the Inactive Allotment Contract Account Rule on Aug. 8, 2008 to address storage and parking agreements, as well as the sale of land separately from the allotment contract to which the water is attached. The Inactive Allotment Contract Account is intended to assist Class D allottees who, in the process of selling a land parcel, are temporarily unable to transfer the attached allotment contract. A qualified allottee may place an allotment contract in the Inactive Allotment Contract Account for up to 12 months.