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<br />Project Summary - LAWMA - Contract No.C150150 <br /> <br />SECTION 1 -BORROWER INFORMATION <br /> <br />Name: Lower Arkansas Water Management Association <br /> <br />Address: P. O. Box 1160 <br />307 Fifth Street <br />Lamar, CO 81052 <br /> <br />Federal Identification No.: 84-0637532 <br /> <br />Contact: Don Higbee, Manager <br /> <br />Phone Number: 719-336-9696 Fax Number: 719-336-2422 <br /> <br />E-mail address:lawma@cminet.net <br /> <br />Type of Entity: Colorado nonprofit corporation <br /> <br />Section 2 - Project Description <br /> <br />Description of PROJECT: The BORROWER applied to the CWCS for a loan for purchase <br />of one-half of the Keesee Ditch's water rights and one-half of the Keesee Ditch's <br />Article /I Storage Account in John Martin Reservoir, located in Bent and Prowers <br />Counties, hereinafter referred to as the PROJECT, at an estimated total cost of <br />$2,315,000 for use as replacement water source to offset depletions from well <br />pumping. <br /> <br />Description of Feasibility Study: The CWCB has reviewed a feasibility study report on <br />the PROJECT entitled "Feasibility Study for Acquisition of One-Half of the Keesee Water <br />Rights" dated July 2003, compiled by Helton & Williamsen, P.C., Consulting Engineers, <br />and a report by William A. Paddock and Bill Milenski dated July 14, 2003, entitled <br />"Report of the Estimated Fair Market Value of One-Half Interest in the Keesee Ditch <br />Water Rights, Including One-Half of the Keesee Ditch's Article /I Storage Account in <br />John Martin Reservoir in Bent County, Colorado" which are incorporated herein by <br />reference, and, based uponthose reports, the CWCB determined the PROJECT to be <br />technically and financially feasible. <br /> <br />SECTION 3 - CWCB's AUTHORITY <br /> <br />Arkansas Loan Account. This loan is made pursuant to the provisions of 937-60-130, <br />C.R.S., as amended by Senate Bill 97-8, Section 17, which authorizes the CWCB to <br />expend up to $3,500,000 from the Arkansas River Augmentation Loan Account for the <br />purpose of making loans to organizations for the purchase of augmentation water to <br />replace out-of-priority depletions to surface water rights and to prevent material <br />depletions of usable stateline flows in violation of the Arkansas River Compact, <br />provided that the borrower meets certain criteria set forth at 937-60-130(3), C.R.So. <br /> <br />Appendix 1 to Loan Contract C150150 <br />