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I I I I I I I I I I I I I I I I I I I maintain the well and pump which supply water to CRPOA's centralized system. In addition, an effort has been made to obtain current market value for Fulton and Burlington-Wellington ditch shares along with annual ditch assessments for 1998. There are many uncertainties that plague these analyses, the biggest being that we do not know which senior ditch right can be bought, the number of shares needed to provide 84 acre-feet of consumptive use, and the cost per share. Assumptions have been made that reflect other recent water sales. Other uncertainties include good estimates of repair and maintenance costs for the pump and motor, power costs, expected life of the pumping equipment and unforeseen repairs to the storage tank or distribution lines. To proceed with the analyses, the following assumptions were made: · The senior water rights to be purchased must yield 84 acre-feet of consumptive use. · Purchase of Fulton Ditch water would yield 1.7 acre-feet of consumptive use per share and could be purchased for $5,500 to $6,000 per share. The number of shares needed would be 50. · Engineering costs estimated at $5,000 will be incurred to evaluate the proposed shares for purchase to affirm their consumptive use yield, potential dry up of land, and to determine if the water can be returned to the South Platte River. Negotiations with other water right owners to share the cost for returning and measuring the flows to the river are anticipated. . A one-time cost of $10,000 and an annual operating cost of $1,000 is budgeted to pay for easements and to share the cost of installing flow measuring equipment and hydraulic structures to route water back to the river. .A 3D-year loan at five percent interest for $237,750 is obtained from CWCB. The annual repayment cost would be $15,252. . The emergency operating and loan reserve funds required by CWCB can be accrued over 10 years with a five percent interest rate. 15