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C150269 Contract
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C150269 Contract
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Last modified
7/12/2011 10:20:31 AM
Creation date
7/15/2009 4:01:43 PM
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Loan Projects
Contract/PO #
C150269
Contractor Name
San Luis Valley Water Conservancy District
Contract Type
Loan
Water District
0
County
Alamosa
Loan Projects - Doc Type
Contract Documents
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. . •~ . <br />STORAGE LEASE AGREEMENT <br />THIS AGREEMENT is entered into this~ day of _~~, 2008, by and between <br />the Santa Maria Reservoir Company ("Santa Maria"), whose address is 147 Washington, Monte <br />Vista, Colorado 81144, and the San Luis Va11ey Water Conservancy District (the "District"), <br />whose address is 415 San Juan Avenue, Alamosa, Colorado 81101, and who are collectively <br />referred to as the "Parties." <br />RECITALS <br />A. Santa Maria is a mutual reservoir company organized and existing under and <br />pursuant to the Colorado Ditch and Reservoir Act, C.R.S. §§ 7-42-101, et seq. <br />B. The District is a Colorado Water Conservancy District organized and exisring <br />under and pursuant to the Water Conservancy Act, C.R.S. 2006 §§ 37-45-101, et seq. <br />C. The District, on behalf of its constituents, has developed an Augmentation <br />Program to provide augmentation water to Program participants within the District's boundaries. <br />D. In order to provide augmentation water, the District has acquired decreed rights to <br />use the following water rights in its Augmentation Program: (1) transmountain water decreed in <br />Case Nos. 84CW16 and 94CW62, District Court, Water Division No. 3; (2) consumptive use <br />credit water decreed in Case No. 03CW41, District Court, Water Division No. 3; (3) water rights <br />decreed in Case No. OSCW 13, District Court, Water Division No. 3; and, (4) water rights being <br />decreed in Case No. 07CW61, District Court, Water Division No. 3. The Conservancy District <br />may acquire additional sources of water suitable for use in its Augmentation Program, including <br />additional transmountain water (all of which are referred to in this Lease as the "Subject Water"). <br />The Subject Water is either transmountain water rights diverted from the San Juan River Basin <br />into the Rio Grande Basin or native Rio Grande Basin water rights decreed for fully consumptive <br />uses by the District in its Augmentation Program. <br />E. Santa Maria is the owner of Santa Maria Reservoir located in Mineral County, <br />Colorado, and Continental Reservoir, located in Hinsdale County, and owns decreed water right <br />priorities to store water in both Reservoirs. Santa Maria and Continental Reservoirs are hereafter <br />referred to as the "Reservoirs," and the water stored therein by Santa Maria is refened to as <br />"Santa Maria" water. <br />F. The parties acknowledge that as of the date of this Lease the Subject Water Rights <br />can be stored in the Reservoirs only by exchange. <br />G. This Lease benefits the District by providing firm storage space to facilitate <br />operation of its Augmentation Program, and Santa Maria by providing additional revenues and, <br />in some circumstances, additional water supply. The District is authorized to enter into Lease by <br />C.R.S. § 37-45-118. <br />Page 1 of 9 <br />
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