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CWCB Construction Fund Loan Ap~lication. <br />Para. 5, Naxrative description. The Town of Gypsum purchased the LEDE Ditch and LEDE <br />Reservoir water rights in 2005. The water rights are decreed for irrigation uses, and provide <br />storage for up to 947 acre-feet in an existing reservoir. Currently, the reservoir is limited to 425 <br />acre-feet of capacity. The Town has contractual obligations to provide LEDE water for <br />agricultural purposes in the Gypsum valley. In addition, the reservoir has aging infrastructure <br />which requires repairs to comply with state dam safety regulations. Gypsum wishes to make <br />maintenance, repairs and construction to bring the reservoir to full capacity, and to protect <br />valuable senior water rights in the reservoir. <br />