From The Fort Morgan Times (Jenni Grubbs):
The contract still needs approval from the owner, who would be severing the water rights from a parcel of Morgan County land. However, it is not certain if purchasing the rights will mean the town will be able to use the water for its municipal augmentation plan. Because the water is marked for agricultural purposes, the water court will have to determine if it can be transferred to a municipal use designation.
More South Platte River basin coverage here.