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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />6.6 Letter of Credit for Post-Plan Year Depletions <br /> <br />To cover estimated depletions due to 1997 plan year pumping which will accrue to the <br />Arkansas River after March 31, 1998, AGUA will execute a letter of credit with the Division of <br />Water Resources in the amount of $8.50 per acre-foot times the amount of future years depletions as <br />described in Section 5.2. Replacement requirements in future years due to 1997 plan year pumping, <br />will total 3,249 acre-feet and the corresponding letter of credit will be for approximately $27,625. <br /> <br />7. Plan Operation <br /> <br />Proposed operation of this plan is the same as was used during the 1996 plan year. AGUA <br /> <br /> <br />will make replacements during each month of the plan year, including transit losses as may be <br /> <br /> <br />required by the Division Engineer, based on the depletions from actual 1996 plan year pumping <br /> <br /> <br />accruing in 1997 (as tabulated in Table 2), depletions from previous months actual pumping during <br /> <br /> <br />the 1997 plan year, and estimated depletions shown in Table 6 for months without actual pumping <br /> <br /> <br />figures. When the State has obtained and processed the power records and determined actual <br /> <br /> <br />pumping for a particular month, the actual depletion for the month will be computed and compared <br /> <br /> <br />to the replacements made based on estimated pumping. Any shortage will be made up by the <br /> <br /> <br />provision of additional replacement water in the upcoming month, and any excess replacement water <br /> <br /> <br />supplied during the previous month will be credited against the estimated replacements required for <br /> <br /> <br />the current month. Winter storage season replacement requirements will be accumulated and paid to <br /> <br /> <br />the Winter Storage Program undistributed storage account. <br /> <br />AGUA will account for Excelsior Ditch credits on a monthly basis and report the amount of <br />credits generated for each month to the Division Engineer's Office. AGUA will apply the Excelsior <br />credits against the replacement obligations and determine any remaining replacement obligation. <br />District Fry-Ark return flow credits purchased by AGUA will be accounted for on a monthly basis <br />and applied against AGUA's total obligation. Replacement water available to AGUA from storage <br />(Pueblo stored transmountain water or District first use water stored in Pueblo Reservoir) will be <br />made available for release at times and in amounts requested by the Division Engineer. <br /> <br />G:\3177_003\REPORTS\AGUA97_1 RPT <br /> <br />28 <br /> <br />PrinledFebruary27.1997 <br />