17 ‎(6)‎

• Board Meeting Date: 9/17/2008
• Description: WPFM Section - Chatfield Reallocation Study - Letters of Commitment
• Board Meetings - Doc Type: Memo

percentage allocated to User, as shown on Exhibit C, attached hereto, shall not be
diminished.
2. User states that its use of the reallocate d storage space in Chatfield Reservoir will
have the following type and location of use:
a. Type of use: Recreation and Augmentation
b. Location of use: Tri-Lakes Reserv oirs (Chatfield, Cherry Creek, and
Bear Creek Reservoirs) and other down stream uses in the South Platte
River basin
User agrees that it will limit its use of the reallocated storage space in
conformity with these descriptions.
3. The CWCB finds that User presently has ad judicated water rights or is capable of
acquiring and holding water rights allowing st orage in Chatfield Reservoir, is an
existing and recognized governmental ent ity, mutual ditch company or private
water company or provider presently provi ding water service to its customers and
is financially capable of meeting the fi nancial obligations in this Letter of
Commitment for local funding a nd storage space acquisition.
4. Costs for completion of the FCSA St udy will be paid by the Colorado Water
Conservation Board’s Chatfield Rea llocation FCSA Study Account, and such
account shall be held by the CWCB for the ex clusive use of this project. User is
not required to make payments into the CWCB Study Account.
5. User may opt out of this Agreement and its share of reallocated space at any time
in accordance with this paragraph 5. The CWCB and the User agree to the
following additional terms regarding cancellation, lease or assignment of a User’s
storage allocation:
a. If a User wishes to opt out and can cel its storage allocation, it shall
provide written notice to the CWCB and all of the Colorado Water Entities
in that User’s group (Upstream or Downstream Group, as identified on
Exhibit C) of its intentions to opt out. The notice shall describe the
proposed terms for acquisition (“proposed terms”) of such User’s
allocation (the “surrendere d allocation”). Each remaining User within the
Upstream or Downstream group, as a pplicable, shall have the right to
acquire a pro rata share of the su rrendered allocation pursuant to the
proposed terms. If a User within the Upstream or Downstream group
elects not to acquire it s pro rata share of the surrendered allocation, then
that share may be acquired pro rata by all of the other members of the
Upstream or Downstream group.
b. Any portion of the surrendered allo cation not acquired by the remaining
members of the Upstream or Down stream group pursuant to paragraph
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