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<br />.. .. ,II <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />STA~F COLORADO <br /> <br />. <br /> <br />Colorado Water Conservation Board <br />Department of Natural Resources <br /> <br />721 State Centennial Building <br />1313 Shennan Street <br />Denver. Colorado 80203 <br />Phone (303)866-3441 <br /> <br />F~d CUJ <br /> <br />Roy Romer <br />Governor <br /> <br /> <br />Jam=s $. Lochhead <br />Execm:ive Director, DNR <br /> <br />Daries C. Lile, P.E. <br />Director, CWCB <br /> <br />,/ <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />Colorado Water Conservation Board. Members. 2. C' <br />-4?~/lLLM"j al( . 3. -/::; 0 () 0 0 ./ -.J 7 Q / 40 C-;tfL/J <br />Bill Green U :::: $/ (ft--d~-l.~~_9_::l..~ <br /> <br />,.. <br /> <br />FROM: <br /> <br />DATE: January 22, 1996 <br /> <br />SUBJECT: Agenda Item 10h., January 24-25, 199f Board Meeting, Water Project <br />Construction Loan Program, Requests for Approval on Loans for New <br />Projects, Lower Arkansas Water Management Association - Augmentation <br />Program <br /> <br />BACKGROUND <br /> <br />The Lower Arkansas Water Management Association (LA WMA) is applying for a $3,750,000 <br />Construction Fund loan WlElaf '1.~ :A~a~ ll.j"er -A~gmenttt:ticm Lean /LeeOt:lfl:t to fInance an <br />augmentation program to replace depletions by pumping from LA WMA' s member wells in <br />the Arkansas Basin. Please see: (1) my memorandum to the Board of July 24, 1995 (July <br />Agenda Item No. 24a.) for a more detailed discussion of LA WMA and the proposed project, <br />and (2) the attached Project Summary. <br /> <br />At the July 1995 Board meeting, LA WMA made application for a Construction Fund loan not <br />to exceed $750,000 for the purpose of securing option agreements on: (1) the X- Y Ranch with <br />66.0 cubic feet per second (cfs) of surface water rights, 15 alluvial wells and approximately <br />4,500 acres of land, (2) An additional 3.0 cfs of X- Y surface rights, and (3) 4,380 shares of <br />the Manvel Canal and Irrigation Company. After these water rights are acquired they would, <br />for the most part, be taken out of irrigation use and the historic or potential consumptive use <br />would serve as credits in the augmentation program. <br /> <br />. The Board approved the loan subject to the following conditions: <br /> <br />(a) The loan would in no way commit the Board to provide any further fInancing <br />for the proposed project, <br /> <br />(b) Before requesting long-term fInancing, LA WMA would fully meet all <br />requirements of the authorizing legislation for the Arkansas River <br />Augmentation Loan Account as specifIed in c.R.S. 37-60-130. <br />