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<br />2 <br /> <br />.~ <br />5 <br />6 <br />7 <br /> <br />8 <br /> <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br /> <br />17 <br />18 <br />19 <br />20 <br /> <br />.~ <br />23 <br /> <br />. <br /> <br />Arguments For <br /> <br />I) The state's public schools would benefit from the proposal. Interest from the money paid <br />by the district is projected to generate approximately $400,000 in the first year for public schools' <br />statewide. The amount generated would increase by approximately $60,000 annually. These moneys <br />may be used for school operating expenses, such as teacher salaries, text books, and utilities. School <br />districts in ~he San Luis Valley are anticipated to receive $297,000 annually with a one-time payment <br />of approximately $1.4 million. <br /> <br />Arguments Against <br /> <br />I) The proposal imposes a significant financial burden on water users in the San Luis Valley. <br />The irrigators affected by this proposal will be required to pay approximately $1.2 million annually <br />with a one-time payment of$5.6 million for water pumped prior to 1998. Irrigators who are unable <br />to pay these costs may be forced out of business. The payment required by the proposal is four times <br />the market rate for irrigation water in the San Luis Valley. Water from state trust lands may become <br />too expensive to use and the project may stop its pumping. Without these waters, the state may be <br />forced to shut off some irrigators to ensure that enough water remains in the Rio Grande River to <br />meet Colorado's obligation to downstream states. <br /> <br />2) The proposal is unfair for several reasons. Irrigators must pay the Public School Fund to <br />use water that is not owned by the trust. All other assets that the trust collects revenue from are <br />owned by the trust. This proposal also requires that only 60 percent of the irrigators who benefit <br />from the project's water pay the entire fee. The remaining 40 percent of irrigators who benefit from <br />these waters would pay nothing. Also, this measure disproportionately benefits school districts in the <br />San Luis Valley. This is contrary to current state policy that distributes most revenue from state trust <br />lands equally among all school districts in the state. . <br /> <br />Ju.ly 29, 1998 <br /> <br />-2- <br /> <br />s: ILCSlPROJECTS\BA1.LOT, 98\PA r:o.-fE,VTS\PA rUENTS.3PD <br />