LPPD000390

• Contract/PO #: C153715
• Contractor Name: Lower Arkansas Water Management Association
• Contract Type: Loan
• Water District: 67
• County: Prowers
• Bill Number: SB 96-124
• Loan Projects - Doc Type: Approval Letter

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STATE OF COLORADO
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Colorado Water Conservation Board

Department of Natural Resources

721 Centennial Building
1 31 3 Sherman Street
Denver, Colorado 80203
Phone: [phone]
FAX: [phone]

Roy Romer
Covernol

lames S. Lochhead
Executive Director. DNR

Daries C. Lile. f'E
Director. CWCB

FROM:

Colorado Water Conservation Board Members
. /28'
B1l1 Green, P.E. . V
Project Planning and Construction

TO:

DATE:

May 9, 1997

SUBJECT:

Agenda Item S.a., May 12-13, 1997 Board Meeting - Water Project
Construction Loan Program - Arkansas River Augmentation Loan Account -
LA WMA - Loan to Purchase Highland Irrigation Co. Shares and Fort Bent
Ditch Co. Shares

INfRODUCTION

The Lower Arkansas Water Management Association (LAWMA) is requesting the release of
funds from the escrow account established from the sale of the X- Y Ranch lands and
approximately $2.21 million in new lending for the purchase of shares in two Arkansas Valley
ditch companies for use in LAWMA's augmentation program on the Arkansas River.

BACKGROUND

At the March 1997 Board meeting, the CWCB staff and LA WMA's staff and consultants
presented to the Board a proposal to purchase shares in the HigWand Irrigation Company and the
Fort Bent Ditch Company for additional water rights to be used in LAWMA's augmentation
program in the lower Arkansas Basin. My memo to the Board of March 18 (March Agenda Item
12. a) outlined the reasons for the acquisition of additional water rights and the details of the
funding request as summarized here in Table 1. Please note that the amount of the HigWand
purchase is somewhat less than previously reported.

a e . rOI ose cqUlsltlons
Highland Irrigation Co. $3,124,371 3,569 Shares
Fort Bent Ditch Co $ 177,000 354 Shares
Total Cost $3,301,371

T hi 1 P

d LAWMA A

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