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DRAFT - 9/26/01 <br />SECWCD - AURORA IGA <br />b. Develop policies and set rates for the allocation and sale of such <br />annual excess water for use within Southeastern's District boundaries; and <br />C. Provide to Aurora a first right of refusal, exercisable within 30 <br />days, to purchase 50 percent of the annual excess water conveyed to and stored by <br />Southeastern, to take from storage and use during the water year such excess <br />water supplies are stored, at a rate to be determined by Southeastern for sale of <br />such water outside the Southeastern District. <br />3. Aurora will provide to Southeastern the option to use up to 750 ac -ft of <br />yield annually (which may be used to facilitate establishment of a water bank in the <br />Arkansas River Basin), from those water rights described in Case No. 99CW 169 when <br />available, for a five year period following entry of the decree in Case No. 99CW1691 <br />rovided that if such decree is not entered by October 31, 2004, then Aurora may give <br />notice to terminate this option effective on or after November 1, 2009* ***[Open Issue. <br />drought condition?1. Aurora's provision of this water is not subject to the first right of <br />refusal provided in paragraph 2.c of this section. Aurora will have the right to withhold <br />delivery of this water during drought conditions for its water supply system, defined as <br />any time Aurora's total system -wide reservoir storage is below forty percent (40 %) of <br />capacity. Whenever Aurora withholds delivery of water pursuant to this provision, <br />Aurora shall purchase at least an equal amount of water from a water bank operating in <br />the Arkansas River Basin, if such water is available at a price not to exceed $50 per acre- <br />24 <br />