The objectives in creating a water bank are to:
(1) promote:
(a) the optimal use of the public's water;
(b) transparency and access to water markets;
(c) temporary, flexible, and low cost water transactions between water users; and
(d) Utah's agricultural economy by providing access to water resources and income for Utah's agricultural industry; and
(2) facilitate:
(a) robust and sustainable agricultural production while meeting growing municipal and industrial water demands, such as fallowing arrangements;
(b) water quality improvement;
(c) water rights administration and distribution; and
(d) a healthy and resilient natural environment.