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<br />) .) <br />." <br /> <br />.'''', <br /> <br />~'" <br />t~ <br />~ <br />N <br /> <br />PLATORO BACKGROUND PAPER 7/19/90 <br /> <br />c..._, <br /> <br />INTRODUCTION <br />Platoro Reservoir was built in 1951. Because of the adminis- <br /> <br />~-; <br /> <br />tration of the Rio Grande Compact it has essentially never been <br /> <br />Used. The Conejos Water Conservancy District, the sponsoring local <br /> <br />agency with repayment obligation to the United States, seeks to <br />purchase the reservoir. It believes that an aggressive local water <br />management POlicy, integrated with the Use of the privately owned <br /> <br />to realize the benefits for Which the project was originally built. <br /> <br />water rights of the local water Users, offers the best opportunity <br /> <br />THE REPAYMENT CONTRAcT <br /> <br />of the San Luis Valley Irrigation Project. The repayment contract <br /> <br />Platoro was first authorized in 1940 as the Conejos River Unit <br /> <br />between the United States Bureau of Reclamation and the Conejos <br /> <br />Water Conservancy District was executed in 1949 as a standard <br /> <br />reclamation repayment contract. <br /> <br />It provided basically that the <br /> <br />construction cost allocated to irrigation, 60% of the total cost <br /> <br />or $2.33 million, would be repaid over forty years at zero percent <br />interest. The remaining 40% was allocated to flood contrOl. The <br />District was also committed to pay 60% of the annual operating and <br /> <br />maintenance cost. <br /> <br />. I <br /> <br />1 <br />