As you already know, "common law" in this country is based on prior case law decisions- and I'm willing to bet there are no decisions on a fact pattern like that. So it would have to be decided by a court, subject to appeals, etc., and keep in mind that the guvment, with unlimited depth of pocket, is your opponent.
But based on what I've seen, courts are very reluctant to saddle anyone (especially the government) with obligations arising from "acts of God", beyond that which the government is willing to voluntarily take on (which, in our present nanny state mentality, turns out to be quite a bit- FEMA, Disaster Declarations, etc.). So I doubt any court would tell the town to keep the stream within the easement, because whatever the stream does is an "act of God".
Generally, the law of stream erosion is based on accretion vs. avulsion. If it eats away at your side gradually, you just lose it, and as the stream moves your direction, the land "accretes" on the other side, and whoever owns the other side get the additional property. But if you lose it suddenly, in a flood, by the stream cutting a new channel, its "avulsion", and you still own on the other side, up to the former stream bed.
I think you would be wise to convert your "mature" hemlock trees into sawlogs. . .
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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