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I I I I I I I I I I I I I I I I I I I opposition to this augmentation plan. pursuant to the MOA. to ensure instream now water rights arc not injured. As mentioned above. the December 2000 Purchase Agreement between District and Vidler includes 5 acre. feet of the Dillon water and an interest in the plan for augmentation as pan of the conveyance to the District. The District is not currently a pany to the pending augmentation plan application and does not intend to obtain water under that augmentation plan. The District understands that ewcs loan funds may not be used to purchase an interest in the plan for augmentation. Adequac~' of Rights to ,\leet Existing Districl :\'ccd The subject \\'ater rights are adequate to meet the District's existing need. based all the fact that the rights meet the needs currently. under their approved decrees and administration. The District utilizes these rights in accordance \\ith the decrees and has done so for many years. which confirms the adequacy and reliability of the rights to support the existing needs at the District. Further. we completed additional examination of the rights during the purchase evaluation and confirmed the adequacy of the rights for the District. based on the existing and planned uses. and the District facilities. A letter from the Division Engineer of Division 5 that addresses the use of the Rice Ranch Rights is included in Appendix I. / ..../) \Valer I{ighls Appraisal The \vater rights described above were analyzed to estimate their value and confirm the basis for the purchase price. The value of a water right can be examined using various approaches. including alternative cost method. comparable sale method. and others. Generally. the value ofa water right depends primarily on the historic consumptive use of the \Vater right. which is that amount of water that has been beneficially used and can be changed to other uses. Many other factors affect water right values. such as the location. reliability (seniority). season of use. market conditions (eg. availability of other sources). and proposed future use of the right. The general approach used to estimate the value ofthc subject rights was to examine comparable sales of rights in the vicinity of the District. Consideration was gi,'cn to looking at an alternative legal (water right) water supply and it was determined that few ifany reasonable alternatives exist. -19- I Hr"hup.llrr"~4'II,h.'I>i.'/(ltl,,.blC