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MOSES, WITTEMYER, HARRISON AND WOODRUFF, P. C. <br /> Rod Kuharich <br /> • <br /> Harold D. Simpson <br /> August 8, 2002 <br /> Page 2 <br /> water because of the current need to enhance our augmentation sources in this dry year. In the end <br /> the bargain was struck that LAWMA would acquire all of the approximately 1960 acre-feet that <br /> Mr. Helfrich had in the account but would agree to apply a portion of it first to the extension of <br /> Helfrich's pumping by 500 acre-feet. The balance of the water,approximately 1300 acre-feet,would <br /> be acquired at$40 an acre-foot or$52,000. As it turned out, LAWMA agreed to acquire all of the <br /> Sisson account water, whatever the exact amount is, to cover Helfrich pumping by an additional <br /> 500 acre-feet,which would require something less than 600 acre-feet of gross account water, and to <br /> pay a flat amount of$52,000 for the balance. Thus, the rounding errors were negotiated in favor of <br /> LAWMA.. <br /> I spoke to Hal about this acquisition last week as the events were unfolding and I <br /> understand that Hal spoke to Rod about it at the time. Hal then called back and cleared us to go <br /> forward. As you can see from the bill of sale,that was completed on August 7. <br /> LAWMA would still desire to acquire some additional Article II sources if the <br /> opportunity should arise. As you know, we have made an offer, with your concurrence, to the • <br /> Buffalo Ditch to acquire 3000 acre-feet at$40 an acre-foot. So far the Buffalo has indicated that it <br /> is not willing to proceed on that sale and has counter-offered at$50 an acre-foot. We have advised <br /> them,and 1 believe Hal has also spoken to some of the Board members,that in the state-wide scheme <br /> of things, we simply cannot go to the $50 price because there are numerous other drought-related <br /> priorities facing the State at this time. We have indicated,however,that our offer would remain open <br /> for at least a portion of that 3000. If LAWMA does get the opportunity to acquire it, it would like <br /> to do so. <br /> We greatly appreciate your assistance in this matter. If you need further information <br /> from me,please contact me. <br /> Very truly, <br /> MOSES, WITTEMYER, HA.RRISON AND <br /> WOODRUFF,P.C. <br /> • By i <br /> Davi. L. ' . rison <br /> DLH/rlo <br /> Enclosure <br /> ec(w/o enc.): Donald F. Higbee • <br /> Duane D. Helton <br /> • <br /> • <br />