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runoff from its own, relatively small, drainage basin. Travel time for storage releases to most <br />shareholders is approximately 24 hours. <br />Continental and Santa Maria reservoirs are generally operated as though they are one storage <br />vessel. Water can be physically moved from Continental to Santa Maria, and water can be legally <br />exchanged between both reservoirs. The Superintendent is responsible for making decisions <br />about how to balance storage in the two reservoirs, and these decisions are influenced by <br />hydrologic factors, maintenance requirements and State restrictions governing the degree to <br />which the reservoirs can be filled. <br />Although Continental Reservoir can be completely drained, the Company generally attempts to <br />maintain about 2,000 of in storage prior to the start of the winter storage period. Storage in <br />Continental is limited to a maximum of 26,716 a£ Up to 37,524 of (decreed amount) maybe <br />stored in Santa Maria Reservoir. <br />Share Ownership <br />Approximately 90 percent of the Company is owned by shareholders of the Rio Grande Canal <br />Water Users Association. As a result, about 90 percent of storage water from Continental and <br />Santa Maria reservoirs is run through the Rio Grande Canal (owned by the Rio Grande Canal <br />Water Users Association). The remaining 10 percent of the Company is owned by shareholders <br />of the Monte Vista Canal Water Users Association, with water being run through the Monte Vista <br />Canal. <br />Water Rights of the Company <br />The Company owns five different water appropriations on the Rio Grande and tributaries for <br />storage. Appropriations owned by the Company tota137,524 of for Santa Maria Reservoir, and <br />26,716 of for Continental Reservoir, as follows. <br />Priority Number Amount Cumulative <br /> (af) Amount <br />Santa Maria Reservoir <br />1916-40A 15, 871.2 15, 871.2 <br />1916-81 21,652.8 37,524.0 <br />Continental Reservoir <br />1934-1 8,832.0 8,832.0 <br />1934-3 2, 557.0 11, 389.0 <br />1934-4 15,327.0 26,716.0 <br />Storage in Santa Maria and Continental reservoirs under their own storage rights typically occurs <br />during the winter months beginning around November 1St, although the Company is not limited to <br />a specific storage period by decree. Storage continues until the spring when there is typically <br />sufficient water demand by downstream ditch companies to call out the reservoir rights. The <br />storage rights are typically out of priority by mid-April. Additional storage in the reservoirs may <br />occur during peak runoff periods. <br />C:Acdss\SMRes.doc Santa Maria Reservoir Company Interview July 6, 1999 -Page 2 of 4 <br />