At the end of an agreement period the commissioner shall offer the landowner the landowner's choice of the five indemnification offers without requiring a new application for a permit to drain. The landowner has 60 days to notify the commissioner, in writing, if the landowner will be:
continuing the former agreement terms, subject to any rate redetermination; or
dissolving the former agreement; and
changing to another form of indemnification; or
deciding not to participate in the program with the knowledge that the basin cannot be drained.
If the landowner chooses to select another indemnification method, the choice must be specified in the landowner's notice to the commissioner.
If the notification of the landowner's intent to continue in the program is not given, the landowner will be required to submit an application for a permit to drain the basin to establish future eligibility to the water bank program.
Upon receipt of the landowner's choice, the commissioner shall conduct an appraisal to establish the fair market value of the property. Once completed, the agreement may be finalized.
17 SR 1279
June 11, 2008