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AGUA — Water Rights Purchase/Recharge Project September 22-23, 2003 Agenda item 5c Year 2001 2002 2003 AGUA March 1 S Amended March 1 st Amended March 1 st Amended Replacement Plan Plan (Finai) Plan Plan (Final) Plan Plan (May Plan Submittal Submittal Submittal* 21 ** Ordered Pumping 31,713 36,597 34,379 20,234 3,715 14,064 acre-feet Wellhead Depletions 14,435 16,750 15,646 9,349 2,204 6,992 acre-feet * Ordered pumping was 30,880 AF with wellhead depletions of 14,000 AF ** Current amendment to further increase pumping is in process. Feasibilitv Studies AGUA, through its engineer Tetra Tech RMC, has completed a feasibility study in accordance with CWCB guidelines. The feasibility study includes an analysis of alternatives for the purchase of water rights to be used for augmentation, and provides a recommendation regarding the subject water rights in relation to other potential sources. AGUA AGUA is a perpetual Colorado non-profit corporation incorporated by well owners in January 1995, for the purpose of including their well pumping in an Arkansas River Replacement Plan, to replace the depletions to the alluvial and surficial aquifers in the Arkansas River Basin. Each member is entitled to one vote per well. AGUA's Board of Directors are authorized to conduct the business affairs of the organization, including determining the necessity for and the extent of incurring any debt. For 2003, the Board of Directors consists of eight persons: seven AGUA Board members and one MAGUA representative. In addition, AGUA employs one full time manager, who is not a director or member of AGUA, to conduct the day-to-day business of the association as directed by the Board. AGUA members do not own shares of stock; however, in the event of dissolution AGUA's assets would be distributed to the members based on the percentage their "asset account" bears to the total of all member asset accounts. This arrangement provides members with an incentive to stay in AGUA, as they are building an asset over time. AGUA's current officers and manager are identified below: President Dick Evans Secretary / Treasurer Cliff Walter Vice-President Tom Dines Manager Brenda Fillmore Revenues/Fees - AGUA has finro main sources of revenue: fees charged to the membership for each well included in the Plan, and water charges for each acre-foot of depletion generated by the member well. The basic fees (excluding incidental fees such as new member setup, testing fees, etc.) for 2003 are: a) Active Wells - $290 er well Breakdown: $144 Administration Fee $ 46 Loan Reserve Fee $ 30 Well Re-Testing Fee 70 Engineering $290 Total Page 3 of 9