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<br />2941 <br /> <br />-10- <br /> <br />Again we might use the value based on ac:'e feet diverted and assume the $4 value <br />per acre foot that the U. S. Bureau of Reclamation asked for 1951 storage water from <br />Horsetooth Reservoir. Assuming that at an average diversion rate of 120 second feet <br />over a 180 day season, there would be diverted a total of 43,200 acre feet for the <br />year. The annual value at ~4 per acre foot totals $172,800. <br /> <br />.) <br /> <br />Then in a 40 year period the cumulative value of water diverted would amount to <br />$6,912,000. <br /> <br />Along this line of reasoning under the Original Northern Colorado Conservancy <br />District contract in which the value of water is set at $1.50 per acre foot plus <br />the mill levy tax on all property, would bring the value to 75% of the above figure <br />or $3 per acre foot, or a total value in 40 years of $5,184,000. <br /> <br />Next take a comparison of the relative costs to secure an adequate volume of <br />water by pumping or a combination of pamping to make up the inadequacy of a ditch <br />system to supply the needed water at the right time. It is only by making adequate <br />~ater supplies at all times available that any fair comparison can be made. <br /> <br />ComparEPwith the Fort Morgan Canal, an irrigation well under tnis system costs <br />currently about :iP4800 installed and will make a 160 acre farm's vater supply compar- - <br />able to 160 acres under Weldon Valley. The life of the irrigation well and pump is <br />figured to be 20 years for amortization purposes since under the Ft. ;,lorgan Canal <br />system the need for pumping is not as great since they have most of Jackson Lake for <br />storage water and a decree date of October 18, 1882 dir~ctly from the South Platte <br />River. The approximate annual cost per acre for a repTesent&tive farm is as follows: <br /> <br />Assessment per acre for direct and storage <br />water payable to the Ft. Horgan Canal <br />Lateral costs from main canal to the farm <br />Annual depreciation and repair costs on <br />irrigation well (20 year life) , <br />Power costs to operate well <br /> <br />:,pr.oo <br />. .50 <br /> <br />1.50 <br />2.00 <br />- <br /> <br />Total annual cost per acre <br /> <br />~5 .00 <br /> <br />But Vieldon Valley farms obtain the same adequacy for an annual charge of 50 cents <br />per acre, thereby showing a net saving of $4.50 per acre for each and every year. In <br />40 years, without any interest charges included, it represents $180 in cash money <br />that each and every acre, whether it is marginal, average, or prime, that Weldon <br />Valley land is worth more than comparable Fort ic:organ Canal Co. land. <br /> <br />A Fort Morgan Canal Co. share irrigates approximately 5 acres and is currently <br />selling for $300 or the equivalent of $60 per acre. To transpose into a Weldon <br />Valley share that irrigates 10 acres, take the value per acre of $60 a-:ld add the ::l180 ' <br />advantage that ffeldon Valley has by reason of decree date and geographical location. <br />This totals $240 per acre. For a 10 acre share it totals ;>2400. Since there is 640 <br />shares of weldon Valley stock the total value of the ITeldon Valley ditch system would <br />be $1.536,000, comparatively speaking. <br /> <br />N~, .make a comparison on the basis outlined above of lands irrigated by the <br />