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<br />E. The Municipalities and other Water Users: As presently envisioned, the Municipalities
<br />and other Water Users that lease water through the Super Ditch Company may include the following
<br />entities: Pueblo Board of Water Works. Colorado Springs Utilities, Aurora, Pueblo West, Fountain Valley
<br />Authority, Pikes Peak Regional Water Authority, Canon City, Security, Widefield, St. Charles Mesa.
<br />Arkansas Valley Conduit, Colorado State Parks and Division of Wildlife.
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<br />F. The Linking of Participating Irrigators to Municipalities and other Water Users: By
<br />auction or other mechanism operated by the Super Ditch Company, Participating Irrigators willing to
<br />fallow land and lease water will be matched with Municipalities and other Water Users. The mechanism
<br />will be designed to obtain market lease prices for the irrigation water rights, ~g into account their
<br />varying "yields" as determined by priority and historic consumptive use. S~,~'in~ifferent ditch
<br />companies will lease for different amounts because of varying yields; mg~:,:reliable shares, such as those
<br />that were not called in 2002, fetching a higher price than less reliable,,~~~j\,;;
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<br />G. The "Leases": The methods by which Particip'~~ih;igators' w~t~~;rights will be made
<br />available to Municipalities and other Water Users may take y~ous;f(mns - inclu<Jiijg:!flng-tenn leases,
<br />interruptible water supply agreements, and water bankin~",;':is the Super Ditch Comp~~j:,~~ennines from
<br />time to time, in consultation with Participating Irrigato~~~}vlunici~~es and other Wa:~;~y,sers, best
<br />accomplishes the goal of maximizing the use of the B3sints~r. Th~:~ethods are coll~vely referred
<br />to as the "leases" in this outline. The leases will be written oi{ilijiforDfforms to facilitate tfading in the
<br />underlying shares, but the leases will take into account the varyili:giYi~lds of the shares. Undoubtedly, there
<br />will be a variety oflease tenns necessary to m~t, the differing needs.'Qf.p'~icipating Irrigators and
<br />Municipalities and other Water Users, but it is.;~i" t~ that most le~~:,w. .",JJ for around 40 years, a
<br />period of time that includes a number of fallowmg .' ~~",,E;ngineers and ers engaged by the Super
<br />Ditch Company will deal with the processes of d~nniiiffig~~;:yield of sl;t, offered for lease and
<br />. securing the necessary Chan~~,,:;~:\.,:~:.,from the St3.~~?0rPeef'iri'd.Z~!~~t~radO Water Court.
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<br />H. Acquisit!gfj'bjSti'iit#j)j)irectly by theS"uper Ditch 'Company and by Contribution: The
<br />Super Ditch Compan~""gj~~,~cquire fo~,;~~ own accounF~~ares that come on to the market, with a view
<br />toward keeping ownefShip'i:f . und~tlYing water right$\,~in the Basin. Municipalities and other Water
<br />Users may also acquire and" ""...~9nmlllte to the Super.liitch Company shares as part of their
<br />commitment to.Uli,~f",ate:r, from 'tti~1J~~in ~*-tlUsiY;JY;1lifuugh the Super Ditch Company.
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<br />1('[?>" " mpan9f~U!1ctio.r'S: Important functions of the Super Ditch Company will
<br />incl~9~,:,.,"', '\',,:~:j'i~.Y:.
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<br />;'. Deterrnmfug the" mechanisms by which Participating Irrigators are matched to
<br />MunicIpalm~s and othefj~Water Users, whether it be by auction or another mechanism or approach;
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<br />4. Pursuing the substitute water supply plans and water court decrees necessary to
<br />allow the shares to be leased;
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<br />5. Obtaining necessary land use permits;
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<br />6. Determining when and on \,Vhat terms to acquire shares directly and to lease the
<br />acquired water;
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