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<br />AGUA's amended 1997 Replacement Plan, as submitted to the Division 2 Engineer, is <br />for 19,452 acre-feet of well pumping for the current member wells. The estimated long- <br />term replacement requirement for this level of pumping is about 8,950 acre-feet. AGUA <br />does not own any water rights at the present time but leases, from various sources, all of <br />the water used to replace member pumping depletions. <br /> <br />Proposed Purchase <br />AGUA has submitted a feasibility study, prepared by Rocky Mountain Consultants of <br />Longmont, describing the pumping and replacement requirements of AGUA' s member <br />wells and six possible water rights acquisitions to offset a portion of the replacement <br />requirements. AGUA intends to acquire, through water rights purchases, 50 to 60 percent <br />of its augmentation requirements over the next 25 to 30 years. <br /> <br />Six water rights have been offered to AGUA for purchase. The feasibility study included <br />a preliminary screening of the six water rights to: (1) estimate average annual replacement <br />credits, (2) evaluate timing and location characteristics of the water rights, and (3) <br />evaluate the purchase price and other costs associated with use of the rights for <br />augmentation purposes. The results of the evaluation are shown in Table 1, attached. <br /> <br />Table 1 clearly shows that the Excelsior water rights at a purchase price of $864 per acre- <br />foot and a total estimated implementation cost of $1,183 per acre-foot are the most cost- <br />effective alternative. The location of the ditch on the mainstem of the Arkansas River <br />between Pueblo and John Martin reservoirs also makes it very suitable for AGUA's <br />augmentation program. <br /> <br />The Excelsior Ditch diverts from the north bank of the Arkansas River about four miles <br />east of Pueblo and has water rights priorities of May 1, 1887 for 20 cubic feet per second <br />(cfs) and January 6, 1890 for 40 cfs. The average annual diversion of the Excelsior Ditch <br />for the years 1908 to 1985 was about 4,000 acre-feet. <br /> <br />AGUA is proposing to purchase 1,007 shares (a 30-percent interest in the ditch) from <br />Dick Evans. Mr. Evans is both the prospective seller of the water rights and the president <br />of AGUA. Table 2 summarizes the major characteristics of the proposed acquisition. <br /> <br />Table 2. Summary for Excelsior Ditch Purchase <br /> <br />Water Rights Priorities <br />May 1, 1887 20 cfs <br />Jan. 6, 1890 40 cfs <br />AveraQe Annual Diversion, entire ditch (1908-1985) = 4,070 acre-feet <br />1,007 Shares at a total price of $650,000 <br />Consumptive Use Credit for 1,007 Shares = 752 acre-feet <br />Cost per Acre-Foot = $864 <br /> <br />2 <br />