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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />,I <br />I <br />I <br /> <br />reduced to allow for 1) wells operating as alternate points of diversion, 2) pre-compact wells, <br />and 3) usability factors applied to depletions at the Stateline. The replacement requirements for <br />the average year totaled 18,049 acre-feet as shown in Table 2 and were based on a series of <br />average years such that the depletions approach steady-state conditions. The replacement <br />requirements for the second dry year following a series of average years totaled 24,435 acre- <br />feet as shown in Table 3. <br /> <br />REPLACEMENT SUPPLIES <br /> <br />Following are sources of LAWMA's replacement water: <br />. the ownership of 120 shares and the use of 1,505 shares of Fort Bent <br />Ditch Company stock, <br />. the use of 50 shares of Lamar Canal Company stock, <br />. the ownership of the Manvel Canal direct flow water right and Article II <br />Storage Account, <br />. ownership of 67/69ths of the X-V Irrigating Ditch direct flow water right <br />and the X- Y Graham Article II storage account, <br />. ownership of the Stubbs direct flow water right and Article II storage <br />account, <br />. annual purchase of water from the Southeastern Colorado Water <br />Conservancy District, <br />. consumptive use credits available from Colorado Beef, and <br />. the non-consumptive portion of the releases from the Kansas Transit <br />Loss Account. <br /> <br />These sources are estimated to yield about 12,760 acre-feet of replacement water <br />annually. Given LAWMA's dry-year replacement requirements, additional water supplies will be <br />needed. The subject of the loan request is the acquisition of Highland Irrigation Company stock <br />and either Amity Mutual Irrigation Company stock or Fort Bent Ditch Company stock, or both. <br />These additional water supply sources are described in detail below. <br /> <br />Highland Irrigation Company <br /> <br />The Highland Irrigation Company is a mutual ditch company that owns and operates the <br />Highland Canal. This canal diverts from the westerly bank of the Purgatoire River in sec. 1, <br />T. 25 S., R. 53 W., approximately 17 miles above the confluence with the Arkansas River. The <br />diversions are measured by a 5-foot Parshall flume located about 1.5 miles downstream of the <br />diversion works and about 0.1 mile downstream from a 1 ,OOO-foot long tunnel. Generally, much <br /> <br />Page 4 <br />