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. . . . Project Sponsor and Existin~ Facilities . The NPIC is a mutual ditch company originally incorporated in 1901. There are 10,000 shares of stock and 684 shareholders. Currently 54 percent of the shares are in municipal ownership, held mainly by the City of Fort Collins, and agricultural water users hold 46 percent of the shares. The Company operates 22 reservoirs with a fotal storage capacity of about 64,000 acre- feet. Water is obtained from the Cache la Poudre River, the North Fork of the Cache la Poudre, and from shares owned in a number of other ditch companies. In addition, the NPIC owns 40,000 units of Colorado-Big Thompson Project water. The average annual yield of the NPIC system is about 30,000 to 50,000 acre-feet or about three to five acre- feet per share. The Company's service area is located in the Northeast quadrant of Larimer County and encompasses about 42,000 acres. Irrigation water is supplied to about 30,000 acres. The four reservoirs included in this funding application have a total capacity of 19,850 acre-feet and a combined average annual yield of about 17,000 acre-feet. Water Ri~hts The feasibility study includes a summary of water rights for each of the reservoirs with copies of the decrees. The storage decrees for the four reservoirs date back to 1889, 1894, . 1900 and 1904. Summary of Proposed Pro,iects Three of the projects, NPIC Reservoirs Nos. 4 and 5 and Indian Creek Reservoir, involve spillway improvements as well as other construction to meet the dam safety requirements of the State Engineer's Office and to generally improve these structures. The fourth project, NPIC Reservoir No.6 Outlet Ditch, involves installing reinforced concrete pipe in an existing ditch alignment to prevent further erosion and sloughing of ditch embankments and resultant damage to nearby lands. Table 1 summarizes the four proposed projects. . 2