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<br />LAWMA - Water Rights Purchase <br /> <br />Agenda Item 20b <br /> <br />July 28-29, 2003 <br /> <br />Water Project Construction Loan Program-Project Data <br /> <br />Borrower: <br /> <br />LAWMA <br /> <br />County: Bent, Prowers <br /> <br />Project Name: Keesee Water Rights <br /> <br />Project Type: Water Rights Purchase <br /> <br />Drainage Basin: Arkansas River <br /> <br />Water Source: Keesee Ditch <br /> <br />Total Project Cost: $2,315,000 <br /> <br />Funding Sources: CWCB, LAWMA <br /> <br />Type of Borrower: Agricultural <br /> <br />Delivery: 1,887 ac -ft (consumptive use) <br /> <br />CWCB Loan: $2,250,000 <br /> <br />Interest Rate: 2.50% <br /> <br />Term: 30 years <br /> <br />The Lower Arkansas Water Management Association (LAWMA), is seeking a new loan for <br />$2,250,000 for the purchase of Y:z of the Keesee Ditch water rights, for use as replacement water <br />source to offset depletions from well pumping. The Keesee Ditch is located on the mainstem of the <br />Arkansas River approximately five miles downstream of John Martin Reservoir. The Keesee Ditch <br />shares a common diversion dam with the Fort Bent Canal, and diverts from the south bank of the <br />Arkansas River. All of the Keesee water rights are decreed for irrigation of 1,400 acres. LAWMA <br />has the opportunity to purchase the Keesee water rights, a very senior water right, that will <br />strengthen the reliability of their water rights portfolio. LAWMA's available replacement water <br />sources are estimated to yield 15,923 acre-feet on an average annual basis, with a minimum of. <br />6,151 acre-feet. With the addition of Y:z of the Keesee rights, LAWMA's available replacement <br />water sources will increase to 16,680 acre-feet on an average annual basis, with a minimum of 8,038 <br />acre-feet, an increase of 4.7% and 30.7% respectively. Acquisition of one-half of the Keesee water <br />rights is also needed because those rights can be stored in the Offset Account and would assist <br />LAWMA with placing a cushion of replacement water in storage in John Martin Reservoir to assist it <br />with making its required replacements during a series of dry years. <br /> <br /> <br />Location Map <br /> <br />Page 9 of 9 <br />