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There are 446 square miles within the boundary of the DISTRICT, including 10 sq mi of non- <br />contiguous tracts of land upstream of McPhee Reservoir. The DISTRICT extends from Dove <br />Creek south to the Ute Indian Reservation a distance of 45 miles and from the Utah/Colorado <br />stateline on the west to the Town of Dolores on the east, a distance of 28 miles. The purpose for <br />the 10 sq mi of non - contiguous tracts upstream of McPhee is to protect historic water usage for <br />42 agricultural water rights that are Junior to Montezuma Valley Irrigation Company. <br />The population of the DISTRICT is about 22,000 of which approximately 50% live in the three <br />towns of Cortez, Dove Creek and Dolores. <br />1) The General Administrative Fund accounts for all tax collections and repayment to the <br />United States Government for all obligations utilizing ad valorem tax. Except for the tax <br />collection and repayment, only a few other expense items remain in the General <br />Administrative Fund. Any excess moneys that accrue to this fund are transferred to the <br />O &M Enterprise Fund, within TABOR limits. <br />3) The Special Revenue Fund accounts for revenues from USBR, pursuant to the <br />Cooperative Agreement. <br />4) The Towaoc/Highline Canal Fund was created to implement the Towaoc/Highline <br />Canal Agreement which states that the DISTRICT will OM &R that feature separate from <br />other Project facilities. The facility was transferred to the DISTRICT on October 1, 1995. <br />The funding for the OM &R is provided by three entities, the Ute Mountain Ute Tribe, the <br />U.S. Bureau of Reclamation -- Salinity Forum, and the Montezuma Valley Irrigation <br />Company. <br />5) The Power Plant OM &R Fund was created to implement the November 16, 1995 <br />contract between the DISTRICT and USBR to operate and maintain the McPhee and <br />Towaoc Power Plants. <br />6) A Fixed Asset Fund was established to better account for the added assets of the <br />DISTRICT. <br />7) A Long Term Debt Fund was established to better account for the DISTRICT's <br />repayment obligation to the United States pursuant to the Repayment Contract. <br />5 <br />