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Assets of the Association include numerous decreed water rights, and the Monte Vista Canal and <br />associated diversion and water delivery facilities. <br />Share Ownership <br />There are approximately 106 share owners in the Association. This number may vary from year <br />to year as shares are sold or otherwise exchanged. There are currently 1,818.52 shares <br />outstanding in the Association. <br />Limitations on Share Use <br />Shares in the Association are not "tied" to specific parcels of land lying within the Association's <br />service area, but are tied to the Canal system. This means that shares can be sold to new owners <br />so long as the shares are used within the historical service area of the Canal. <br />Water Rights of the Association <br />The Association owns 11 different water appropriations on the Rio Grande. The Canal also, by <br />agreement, carries transmountain water owned by the Colorado Division of Wildlife and released <br />from Beaver Reservoir every year for delivery to the Monte Vista National Wildlife Refuge. <br />Appropriations owned by the Association tota1340.77 cfs. Many of these rights, however, are <br />relatively junior in priority to other water rights on the Rio Grande and they are frequently called <br />out. <br />Priority Number Amount Cumulative <br /> (cfs) Amount <br />224 132.20 132.20 <br />358 125.30 257.50 <br />1903-24A 13.35 270.85 <br />1903-30A 20.58 291.43 <br />1903-34A 9.44 300.87 <br />1903-37 3.75 304.62 <br />1903-41 1.63 306.25 <br />1903-45A 10.42 316.67 <br />1903-46A 5.21 321.88 <br />1903-49B 14.33 336.21 <br />1903-52A 4.56 340.77 <br />Flow conditions in the Rio Grande are such that the Monte Vista Canal is typically able to divert <br />between 257 and 270 cfs for much of the early irrigation season (through priority number 358 or <br />1903-24A). After peak flow periods and in early June as flow decline, the Canal is typically in <br />priority for less water and is often out of priority completely by early July. <br />Share owners in the Association also own 10 percent of the Santa Maria Reservoir Company. <br />This 10 percent is represented by about 43 of the Association's share owners. <br />C:Acdss\MVCanal.doc Monte Vista Water Users Association June 21 , 1999- Page 2 of 7 <br />