Here’s the current installment of their Colorado Water 2012 series from The Valley Courier (Mike Gibson). Click through and read the whole article. Here’s an excerpt:
Water Conservation Districts determine policies, own water rights and other real property, coordinate local engineering and legal studies, and assist in the development of water resource projects. They may levy ad valorem taxes for the expenses of the organization…
In contrast, Water Conservancy Districts are formed at the request of communities and are local instrumentalities of state government. They are organized under procedures in state district courts and remain under their jurisdiction. These are formed in conformance with the Water Conservancy Act of 1937 and Colorado State Statutes 37-45-10 and have the powers of a public or municipal corporation.
More Colorado Water 2012 coverage here.