<br />"
<br />t
<br />
<br />Colorado Water Conservation Board
<br />Department of Natural Resources
<br />721 State ~r~l Bcilding
<br />i313 Sheonan Street
<br />Denver. Colorado '80203
<br />PhOne (303) 866-3441
<br />FAX (303) 8664474
<br />
<br />C(8'37L5
<br />STATE JF' COLORADO
<br />.
<br />
<br />'"
<br />
<br />BEST COpy
<br />
<br />~ Romer .
<br />Govemor
<br />
<br />MEMORANDUM
<br />
<br />.Tames S.lh-bbe'<ld
<br />Exccmive DiIcaor, DNR
<br />Daries C.lile. P ..E.
<br />DiIeaor. CWCB
<br />
<br />TO:
<br />
<br />Colorado Water Conservation Board Members
<br />
<br />. Bill. ~eenand .Jan Illian rp, G- . ~
<br />. -(~,.r-' ~
<br />~,...
<br />May 6, 1996 '., ",.
<br />
<br />, ';.! " ~
<br />
<br />Agenda Ife~ 12.b., May 13-14, 1996 Board Meeting, Arkansas River Basin
<br />Issues, Lower Arkansas Water Management Association (LA\VMA)-
<br />Request for Substitution of Collateral on Construction Fund Loan .
<br />
<br />FROM:
<br />
<br />DATE:
<br />
<br />SUBJECT:
<br />
<br />
<br />., :.
<br />
<br />BACKGROUND' .
<br />
<br />:. :~Y';:; D(j::.f > -~j:::...:. .' _ ~:'~' ." ~ "./J:' .F: ~,.!. ,; i} ... ':~.~,.' -,:":'~:'j-~';..-' _~_
<br />In Janwu-y of'tJJis year, the Board recommended up to $3,750,000 in Construction Fund
<br />finiuicing 1o;;~e '11ower.\]\rkansa~:Water Ma'nagement'Ass6ciati():p.~AWM.M J~QI:}tl;1e\purchase
<br />oflati.dilnd~Watet rjghtS'to ibebSedfbyLAWMA' tin an)augm~n.ta#9Jl?pr9~~;~oJ!9ffse~
<br />depletions by pumping from member wells in the Arkansas Basin. Thefundip.g)}V~,.
<br />authorized by the General Assembly in SB 96-124 which was signed by the Governor in
<br />March.: '';'':':'.' ;, ,.' 'i';' ....,' .. '.,},: .'.1 :L:~.:,' :7t;T n; ....... ,..
<br />
<br />To date, LA W1vfA has borrowed slightly more than $3.0 million from the C<;>nstruction Fund
<br />for tliep~ .of the X- Y Ranch .landsand water ?rightsas ipropQse<l in .the Association's
<br />feasibilitY studies. The entire augmentation program proposed.by LA WMA will entail the
<br />purchase of additional water ri2"hts associated with the X-V Ranch and from the Manvel Canal
<br />. ~
<br />and Irrigation Company. It is expected that the purchase of all of these items will utilize
<br />virtually the entire $3.75 million authorization.
<br />
<br />,., .. .- , . ,-- - ~. ~\oO_, "_ -. '", . .
<br />,- . -.' -, .,;;..\ ;;,.,<~~;:;J~J '._."> ': ~
<br />
<br />DISCUSSION
<br />
<br />As outlined in the feasibility studies prepared by LA'VMA's engineering consultant, an
<br />additional 1,500 acre-feet of consumptive use credits will be needed, over and above the
<br />amounts to be obtained from the above-mentioned water rights, to fully offset LA WMA's
<br />depletions. LA WMA proposes, with the approval of the Board, to apply the proceeds from
<br />the sale of the X- Y Ranch lands towards the purchase of the additional 1,500 acre-feet.
<br />
<br />I
<br />
|