My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
BOARD00487
CWCB
>
Board Meetings
>
Backfile
>
1-1000
>
BOARD00487
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/16/2009 2:50:59 PM
Creation date
10/4/2006 6:39:16 AM
Metadata
Fields
Template:
Board Meetings
Board Meeting Date
5/24/1999
Description
CF Section - Changes in Existing Loans - Lower Arkansas Water Management Association - Amended Water Rights Purchases
Board Meetings - Doc Type
Memo
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
6
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<br />, <br /> <br />,,' <br /> <br />e <br /> <br />e <br /> <br />it <br /> <br />MOSES, WITTEMYER, HARRISON AND WOODRUFF, P. C. <br /> <br />Peter Evans <br />April 29, 1999 <br />Page 2 <br /> <br />yield of the Las Animas Consolidated shares more dependable. The <br />Las Animas Consolidated Ditch also diverts water higher up in the <br />Arkansas River Basin than the Fort Bent or Amity Ditches. There is <br />therefore a better opportunity to use the ~as Animas Consolidated <br />water by exchange and this further increases its market value. For <br />these reasons, the Las Animas Consolidated shares are worth at <br />least the same amount per acre-foot of average yield as the Fort <br />Bent or Amity shares. <br /> <br />LAWMA proposes to pay approximately $675 per acre-foot of <br />average yield for the Las Amimas shares. This is the same price <br />per acre-foot of average yield approved by the Board for the Fort <br />Bent and Amity shares. Based on the water court decree entered in <br />Case No. 80CW52 (changing approximately 90% of the Las Animas <br />Consolidated shares to new uses by Public Service Company), a Las <br />Animas Consolidated share yields an average of 22 acre feet <br />annually, making the purchase price approximately $14,850 per <br />share. After deducting the funds necessary to close on the <br />remaining 167 Highland shares (i.e., $141,950), a total of $282,466 <br />would remain available to LAWMA from the $2.3 million loan under <br />Loan Contract No. C153768 for purchase of any combination of Amity, <br />Fort Bent or Las Animas Consolidated shares. <br /> <br />If possible, LAWMA would like to present its request to the <br />Board at its May, 1999 meeting. LAWMA requests that the Board <br />authorize you to approve the purchase of Fort Bent shares, Amity <br />shares, Las Animas Consolidated shares, or a combination of the <br />three in an amount not to exceed $282,466. All shares purchased <br />would be pledged as collateral for Loan Contract No. 153768. <br /> <br />As always, LAWMA appreciates your willingness to support its <br />efforts to supply reliable replacement water to its members. Do <br />not hesitate to call me, Don Higbee or Duane Helton if you have any <br />questions about LAWMA's request. <br /> <br />Sincerely, <br /> <br />MOSES, WITTEMYER, HARRISON <br />AND WOODRUFF, P.C. <br /> <br />By ~ <br />Veronica A. <br /> <br /> <br />VAS/mfb <br />cc: Donald Higbee <br />Duane Helton <br />Bill Green <br />Jan Illian <br />Linda Bassi, Esq. <br />
The URL can be used to link to this page
Your browser does not support the video tag.