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<br />dct~1~-97 11:23A IDEAL VALLEY REALTY LTD <br /> <br />719 462 5755 <br /> <br />P.OS <br /> <br />Retommendation <br />Slaffrecommends a 10a1lfrom the Arkansas River Augmentation Loan Account of the <br />Constnletion Fund to the Arkansas Groundwater Users Association in the amount of <br />$650,000 for the purchase of 1 ,007 shares in the Excelsior Ditch. The recommended ternl <br />of the loan is 40 years at a lending rate of3.0 percent. As collateral for the loall, AGUA <br />will pledge aU shares in the Excelsior Ditch acquired with the loan proceeds and also will <br />pledge revenues from membership fees. <br /> <br />Staff further recommends that final approval oCthe loan be conditioned upon the <br />submiUal ofan appraisal, acceptable to the Director oCtile ewes, of the Excelsior Ditch <br />water rights. . <br /> <br />Cc: Board ofDuectors, AGUA <br />Steve Wille, Division 2 <br />Linda Bassi, AGO <br />Mark McLean, Rocky Mountain Consultants <br /> <br />Table 1. Water Rights PurC?hase Comparisons <br /> <br />. Repllcement Purchase Purchase Cost Other Total Cosl per Ac-FI <br />Waler Right Credlls'ac-m Price Der Acre-Foot Costs Cosl of Replacement <br />Fuuntaln Mutual <br />In !D8tlon Co. 124 $265.500 $2.141 $211.700 $477.200 $3 846 <br />l( .ck Ditch 1070 S1.733.7oo S1.620 5320.700 $2.054.400 $1 920 <br />li:>lon and <br />Ll.ve OUch 795 $1.287.900 S1.620 $214.100 $1.502.000 $1.889 <br />Rubinson Ditch 467 $800.000 5:1 713 $146 800 $946.800 52.027 <br />Elicelslor Ditch 752 $650.000 $864 $239 300 S889.3oo S 1. 183 <br />Kn8see Ditch -. ... a.. ... ... __A <br /> <br />..t <br />