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LAWMA WATER RIGHTS PORTFOLIO YIELDS BASED ON REPLACEMENT <br />REQUIREMENTS AUGMENTED WITH LAWMA'S <br />REPLACEMENT WATER SOURCES <br />YEAR WITHOUT REMAINING WITH REMAINING PERCENTAGE <br />ONE-HALF OF KEESEE ONE-HALF OF INCREASE <br />WATER RIGHTS KEESEE WATER <br />RIGHTS <br />Average 17,939 acre-feet 19,721 acre-feet 9.9% <br />Firtn 7,864 acre-feet 9,085 acre-feet 15.5% <br />G. Use of the Remainin� One-Half of the Keesee Water Ri�hts bv LAWMA in 2005, <br />2006 and 2007. <br />Under the agreement for LAWMA's purchase of the remain.ing one-half ofthe Keesee <br />water rights, LAWMA obtained the right to use the remaining one-half of the Keesee water rights <br />and Article II Account water during the 2005, 2006 and 2007 irrigation seasons. Accordingly, since <br />April 2005, LAWMA has been using the direct flow Keesee water rights in its Arkansas River Use <br />Rules replacement plan by storing those rights in the Offset Account in John Martin Reservoir. <br />VI. F�nancial Plan <br />A. LAWMA's current CWCB Loans <br />LAWMA currently has four loans with the CWCB as shown below: <br />Loan No. Date of Principal Terms Current Annual <br />Contract Balance Payment <br />C153715 OS/O1/1997 $3,688,567 3% - 40 yrs $3,822,033 $199,184 <br />C153768 OS/28/1997 $2,300,000 3% - 40 yrs $1,841,792 $ 89,297 <br />C153756 09/18/1997 $ 65,000 3'/a% - 10 yrs $ 17,453 $ 9,154 <br />C150150 O1/O1/2004 $2,272,500 2.5% - 30 yrs $2,133,299 $108,575 <br />B. LAWMA's Current CWCB Loan Rectuest for the Purchase of the Remainin� <br />One-Half of the Keesee Water Ri�hts. <br />The cost of LAWMA's acquisition of the remaining one-half of the Keesee water <br />rights will be $ 3,600,000. An independent appraisal of the Keesee water rights is being performed <br />11 <br />