Project-Specific Agreement- for the Heyborne Recharge and Wildlife Project

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submittui to the PRRiP Govemance Committer in Octobc;r of each Operating Cummiitcc w ill annually dcvclop a draft of this plan f'or consideratiou and approval by DNR and SPWRAP prior to August ycar. c. Financial Oblieations to PRRIP ycar. Thc 1 of each Colorado's cash obligalion to PRRIP is anlicipated to be approximatcly $24,OOp,000 in 2005 dollars over the contcmplated thirtecn ye:us of thc First lncrement. In udditian, Coloracio has obligations under the Program to re- regulate river pows at tha state linc which will entail additional cosu. ]f the First Incremcnt is cxtended, it is probable that Colorado will have additianal monctary obligations, however, tlic amount of such obligations cannot yet be estimated. ii ?he Operating Committee will develop a budget that will identify, to the extcnt possibic, all of the costs involved in meeting Colorado's PRRIP obligations, the time-frarne within which each of those obligations wifI be met, and the minimum funding requirement for cach yeaz of the PRR1P. A preliminary eslimate ofthc total cost of ineeting al1 PRRIP obligations is attached herelo as Exhihit A. This estimate wiil bc further developed and refined by thc Operazrng Committee. iii 7'hc Partics acknowledu�c that financiai obligations of Colorado payable after the current fiscal year are contingent upon funds for that purpose being a�ropriated, budgeted, and othenvise made avaitabie. Becaase Goforddo does not have availablc at this timc the cntirc amount of money needed to meet PRRtP obtigations, and because funding for the P12RIP ia thc futurc remains mtcenain, SPWRAP and DNR agree that DNR will seek funding through the Icgislative process in each year further appropriations are necessary, and where practical to do so, SPWRAP and its membcrs will suppoR DNR's cfforts 2hrough legislative coniacts. A iime-line describing the state budget process and relevant deadlines is attached hereto as Exhibit $. Lach yearlhc Operating Committee will updaie its estimate oTthe minimum funding tequirement based on thc circumstances at the time. Each year lhc Panics will agree upon the amount of funding to bc myucstcd from the legislaturc, which amount could bc a�cater or lcss than the minimum funding requirement for lhat yeaz. iv In the cvcnt sufl'icient funds are not made avxilable by the Legislature ro meet the mii�imum funding rcyuircment in a given ycar, DNR will notify SPWRAP in writiqg as to the amaunt of the shortfall, and SP4VRAP agrces io use its best effons ta pay such shortfalls. SPWRAP eontemplates raising this money through fee assessments paid by its members. The amount of moncy kepl in reserve by SPWRAP for mecting sliortfalls will bc detcrmincd by SPWRAP in its discrction aflcr consullation with DNR. In the event it bccomcs $PWRAI'-DNR MoA 11-14-IM�