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<br />. <br /> <br />. <br /> <br />. <br /> <br />Storage in the reservoir is from local runoff upstream of the dam and water is released <br />from storage to the Big Thompson River as needed in the latter part of the irrigation <br />season, Shareholders divert their entitlements from the Big Thompson, Irrigated lands are <br />generally located east of Loveland, The Company owns about 90 acres ofland in the <br />reservoir basin, <br /> <br />Water Rights <br /> <br />The Company has a 1904 storage decree allowing it to fill the reservoir to a capacity of <br />730 acre-feet each year. During times of excess runoff, as determined by the Water <br />Commissioner, the Company may store an additional 246 acre-feet for a total amount of <br />946 acre-feet. The average annual yield of the reservoir is approximately 800 acre-feet per <br />year without storage restrictions, <br /> <br />ProDosed Proiect <br /> <br />The dam is presently considered a Class II structure by the SEa, which means the spillway <br />must be capable of passing 50 percent ofthe Probable Maximum Precipitation (PMP) <br />likely to occur in the drainage basin above the dam, Ed Toms, P,E" has conducted a <br />hydrologic analysis and an incremental damage assessment for the reservoir; the Company <br />is requesting that the SEa classify the dam as a Class III structure based on that analysis, <br />A Class III structure is required to pass the 1 OO-year flood event, which is considerably <br />less than one-half of the PMP, <br /> <br />The project involves the construction of a new spillway on the left abutment of the dam <br />with adequate capacity to pass the 100-year inflow design flood, The spillway <br />configuration will be an 800-foot long, riprap-lined trapezoidal channel. The total <br />estimated cost for planning, design and construction is $428,500, Construction is expected <br />to commence in October of this year and to be completed by January 2000, <br /> <br />The land on which the project would be located, downstream of the dam axis, is owned by <br />a member of the board ofthe Company, The company is presently negotiating with this <br />individual for use of the land, A Nationwide 404 Permit is required from the Corps of <br />Engineers; no difficulties are anticipated in obtaining the permit. <br /> <br />Financial Summary <br /> <br />The Company has no existing debt and its financial condition is sound, Cash reserves <br />currently amount to somewhat less than $80,000, The Company will attempt to maintain a <br />cash reserve of about $10,000 following completion of the project. Table 1 summarizes <br />the Company's revenues and expenditures for the years 1995 to 1997 as estimated by staff <br />from financial data provided by the Company, <br /> <br />2 <br />