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<br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />I <br />I <br />I <br />I <br /> <br />I <br />I <br />I <br /> <br />I <br />I <br /> <br />I <br />I <br /> <br />I <br /> <br />I <br /> <br />The previous FMIC change decrees have established that the amount of consumptive use has varied <br /> <br /> <br />from year to year, depending on the amount of water available for diversion under its rights. Because <br /> <br /> <br />the actual amount of stream depletion associated with the rights is variable, stream depletion is <br /> <br /> <br />represented by using a percentage of the actual an'lount of water delivered by Fountain Mutual to its <br /> <br /> <br />shareholders. The historic average annual consun'lptive use yield for each Fountain Mutual share has <br /> <br /> <br />been quantified at 0.7 acre-feet per year. Thus, 117 FMIC shares would yield an average of <br /> <br /> <br />approximately 124 acre-feet per year for use in AGUA's replacement plan. <br /> <br />Table VI-l summarizes the decreed monthly Fountain Mutual replacement credits as a percentage of <br /> <br /> <br />monthly farm headgate delivery. Current policy by the Ditch Company is to consider the farm <br /> <br /> <br />headgate delivery as the amount of water being delivered to an augmentation station. The historic <br /> <br /> <br />farm headgate delivery is actually a percentage of the Fountain Creek headgate diversion reduced for <br /> <br /> <br />ditch loss and reservoir losses (evaporation and seepage). W.W. Wheeler (1991)6 has estimated the <br /> <br /> <br />ditch loss at approximately 25 percent of total diversions, the reservoir losses at eight percent, and the <br /> <br /> <br />overall farm irrigation efficiency at 75 percent, to determine the average annual consumptive use <br /> <br /> <br />credit of 0.7 acre-feet per FMIC share. <br /> <br />Two FMIC augmentation stations already exist and one is being constructed. One existing <br />augmentation station is used by Fountain, Widefield Home Water Company, and Security to make <br />releases from Big Johnson Reservoir to Cruse Gulch. Transit Ready Mix has an augmentation station at <br />its gravel pits that is used to recharge the Widefield aquifer, to offset the Company's tributary well <br />depletions. The soon to be completed Spring Creek augmentation station is located several hundred <br />yards downstream from the Fountain Creek headgate. Releases from Spring Creek will go directly <br />back to Fountain Creek. The capacity of the Spring Creek augmentation station is estimated to be 45 <br />cfs by Mr. Gary Steen, engineer consultant to the FMIC. The Spring Creek augmentation station would <br />be available to all shareholders in the FMIC. <br /> <br />The selling price for the 177 FMIC shares has not been established by the Venezia Family. It is our <br />understanding from discussions with Mr. Bruce Kroeker, that FMIC shares have been selling for <br />approximately $1,500 per share in the last six months, and that would be in the range of a selling price <br /> <br />6 <br /> <br />Security Water District Plan for Augmentation and Exchange (Case No. 90CW28) prepared by W. W. <br />Wheeler and Associates, Inc., November, 1991. <br /> <br />-17- <br />