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submitted to the PRRIP Goveniance Committee in Ociobcr of cach ycar. Thc <br />Operating Committcc wilt annualty dcveiop a dra1l c,f this plan f'or, <br />consideration and approval by C>NR and SPWRAP prior to August 1 af each <br />ycar. <br />c. Financial Obligations to PRRIP <br />C'u{orado's cash ohiigation io PftRIP is anticipatcd to be approximatcly <br />$24,000,000 in ?OOS dollars ovcr the contcmplatcct thirtccn ycars of the First <br />lncrrmcnt. In addition, C'oloradm has obliga:ions under the Program to re- <br />regulate river flows at the state line which will cntail additional costs. If the <br />First [ncrcmcni is cxtcndcd, it is probablc t11at Coloraao wiil have additinnal <br />monctary obligations, howcvcr, the amount of such obligations cannot yct bc <br />estimated. <br />ii The Opcrating Committce will develop a budget that will identify, to the <br />cxtcnt possiblc, a11 of the costs involved in meeting Colorado's PRK1P <br />obligations, the timc;-fi•amc within which each of those obligations will be <br />met, and the minimum funding requirement for cach year af the PRRIP. f1 <br />prel'+minary estimatc af the total cost of ineeting all PRIZlP obligations is <br />attached liercta as t xhibit A. This cstiniate wili be fiarther developed and <br />refined by the Operating Committee. <br />iii '1'hc Partics acknowlcdgc that financial ob{igations of Colorado payabte after <br />the current tiscal year are cui;tingcnt upon funcis for tliat purpuse being <br />appropriatcd, budgeted, and otllerwise made available. I3ecause Colorado <br />docs not have availablc at this time the cntirc amount of money needed to <br />meet PRRIP obligations, and because fiiuding for tlic PR.RIY in the future <br />remains uncertain, SPWltAP and llNR agrec ihat llNR will seek funding <br />through the lcgislativc proccss in cach ycar further appropriations arc <br />necessary, aiid where practical to do so, SPWRAP and its mcmbcrs will <br />support UNR's efforts through legislativc contacts. A time-line describing the <br />state budget process and relerant deadlines is attached hereto as E?xhibit B. <br />Each ycar the Opcrating Gc?nimilt.cc will up(laic its cstimate ofthe minimum <br />lunding requirement based on the circumstances at the time. Each ycar lhc <br />Parties will agree upon the amount of funding to be rcyuested from the <br />Icgislature, which arnount could be greater or less than the minimum ft?ndinl) <br />rcyuircment f'or lhat year. <br />iv Iri the cvcnt sufficient fimds are not macie availab(e by the I..egislature to mect <br />the minimum funding requircment in a given ycar, DNR will notify SPWRAP <br />in writing as to the amount of the shortfall, and SPWRAP agrces to use its <br />best cfforts to pay such shortfalls. SPWRAP contemp{ates raising this money <br />throttgh fee assessmcnts paid by its members. Thc amount of moncy kcpt in <br />reserve by SPWRAP for meeting shortfalls will bc dctcrmincd by SPWRAA <br />in its discrction after consultation with DNht. In the event it becomcs <br />4 St'W(tAl'-bNR Mon I 1-14-1l6