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The specific water rights that were to be purchased were: . Rural & Godding Ditch rights Lupton Meadows Ditch rights Farmers Independent Ditch rights Weldon Valley Ditch rights TOTAL $ 3,100,000 $ 2,000,000 $ 2,000,000 $ 5,100,000 $12,200,000 Rural Ditch shares yield, on average, approximately 74 acre-feet per share. The Godding Ditch yield is approximately 27 acre-feet per share. The Farmer's Independent Ditch yields approximately 18 acre-feet per share. Weldon Valley Ditch provides about 51 acre-feet per share of water. The cost of the water rights were estimated at approximately $3,000/acre-foot of consumptive use Appropri':lte dryuf.' would be obtained from the areas historically irrigated with purchased shares of water. Current Status of the Proiect Central obtained approximately $8~8 million in bond funding in March 2004. These funds were used to acquire all or a portion of the water rights and gravel pit storage listed below. The bond is a 2-year note, and will come due in February 2007. Therefore, the majority of reimbursed funds from the Colorado Water Conservation Board (CWCB) will be used to payoff the bond when it comes due in early 2007. . Below is a list of all water assets that have been reimbursed at 90% from the CWCB: . 4-29-04 4-29-04 5-18-04 1-04-05 1-31-05 2-28-05 3-31-05 4-07-05 5-03-05 5-07 -05 6-01-05 6-07 -05 7-08-05 10-07-05 12-08-05 1-10-06 2-06-06 2-06-06 2-9-06 Farmers Independent Ditch - 10 shares Windsor Reservoir - 3 shares Godfrey Bottom Ditch - 5 shares Shores Gravel Pit - Lining Pond B Shores Gravel Pit - Lining Pond B Shores Gravel Pit - Lining Pond B Sho[f~s Grav~l Pit Lining Pond A Shores Gravel Pit- Inlet Structure Shores Gravel Pit - Lining Pond A Shores Gravel Pit - Inlet Structure Shores Gravel Pit - Lining Pond A Shores Gravel Pit - Inlet Structure Shores Gravel Pit - Inlet Structure Shores Gravel Pit - Lining Pond A Shores Gravel Pit - Pipeline bore Shores Gravel Pit - Pipeline bore Shores Gravel Pit - Pipeline bore Shores Gravel Pit - Slurry Wall Lining Greeley Irrigation Ditch - 19 shares $261,418.00 319,436.00 351,120.00 520,065.64 568,071.69 427,452.63 315,096.2:, 21,115.11 238,967.57 151,706.04 489,398.54 23,847.44 6,919.78 809,197.70 12,694.37 6,194.82 11,051.37 5,036,947.70 905,000.00