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C. The average yield of the remaining one-half of the Keesee water rights is estimated <br />to be 1,761 acre-feet between 1980 to 1994. LAWMA's replacement water supplies <br />currently yield appro�mately 17,939 acre-feet on an average annual basis and 7,864 <br />acre-feet on a firm basis. The average yield of LAWMA's portfolio with the <br />remaining one-half of the Keesee water rights would be 19,721 acre-feet and the firm <br />yield would be 9,085 acre-feet. Therefore, the increased firm yield if the remaining <br />one-half of the Keesee water rights were acquired by LAWMA would be 1,221 acre- <br />feet and the increased yield on average would be 1,782 acre-feet. That translates into <br />a firm yield increase of appro�cimately 15.5% and an average yield increase of <br />approximately 9.9% if the remaining one-half of the Keesee water rights are <br />purchased by LAWMA. More importantly, with the remaining one-half of the <br />Keesee water rights full allocations ofreplacement water to LAWMA's members aze <br />justified in 2 additional years and the allocations of replacement water increase by <br />an average of 6% overall. <br />D. The cost to a LAWMA member for one acre-foot of firm yield replacement water <br />from 2008 through 2037 without the remaining one-half of the Keesee water rights <br />is about $85.43. The cost to a LAWMA member for one acre-foot of firm yield <br />replacement water with the remaining one-half of the Keesee water rights will be <br />about $82.64. <br />E. LAWMA's acquisition of the remaining one-half of the Keesee water rights is also <br />needed because those rights are very unique since they can be stored directly in the <br />Offset Account and would assist LAWMA with placing a substantial cushion of <br />replacement water in storage in John Martin Reservoir to assist it with making its <br />required replacements during a series of dry yeazs. The Special Master and State <br />Engineer have encouraged LAWMA to find a way to store more water in the Offset <br />Account and the Keesee water rights present a unique opportunity for LAWMA to <br />acquire additional replacement water that can be stored in John Martin Reservoir. <br />F. LAWMA's members have approved the proposed loan from the CWCB to acquire <br />the remaining one-half of the Keesee water rights and have approved share <br />assessment levels necessary to ensure repayment of the loan. <br />18 <br />