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<br />FEASffiILITY STUDY
<br />For
<br />NPIC #6 OUTLET DITCH REPAIRS
<br />NPIC #5 RESERVOIR SPILLWAY
<br />NPIC #4 RESERVOIR REHABILITATION
<br />INDIAN CREEK RESERVOIR SPILLWAY
<br />
<br />PROJECT SPONSOR
<br />
<br />The North Poudre Irrigation Company (NPIC) was incorporated on July 31, 1901 for a term of twenty
<br />years, Later, the stockholders provided for perpetual existence, The company is a mutual ditch and
<br />reservoir company under the laws of the State of Colorado. The provisions relating to ditch and
<br />reservoir companies in particular begin in C,R,S, 7-40-102, 7-40-104, and 7-42-101 to 7-42-117,
<br />
<br />The North Poudre Irrigation Company has offices in Wellington, Colorado and operates 22 storage
<br />reservoirs and approximately 200 miles of ditches delivering water to its shareholders, The reservoirs
<br />store approximately 64,413 acre-feet of water, Sources of the water include the North Fork of the
<br />Cache la Poudre River, the Cache la Poudre River, and all of their tributaries, Additionally, NPIC
<br />owns 40,000 units of Colorado Big Thompson (CBT) water, 151 preferred rights in Fossil Creek
<br />Reservoir, 445 shares in the Arthur Ditch. 9 shares in Larimer County No, 2 Ditch, 13 shares in the
<br />New Mercer Ditch Co., and 21 7/8 chares in Taylor and Gill Ditch Company, The average annual
<br />yield of the system is approximately 55,000 acre-feet of water.
<br />
<br />The 40,000 units of CBT water is multiple use water. Through agreement with the Northern Colorado
<br />Water Conservancy District, up to 40,000 acre feet of this water is to be delivered annually at a cost of
<br />$1.50 per acre-foot, This water is delivered through Horsetooth Reservoir. The current market value
<br />of a unit of CBT water is $3,000 and each share of NPIC stock has rights to 4 units of this water,
<br />making the market value of a share of NPIC stock $12,000.
<br />
<br />NPIC also owns a large machine shop, equipment including trucks, pickups, front-end loaders, motor
<br />graders and other miscellaneous pieces of equipment. The total worth of NPIC's assets is $12,232,260
<br />as reported in their 1998 Annual Report,
<br />
<br />There are 10.000 shares of stock authorized and issued with 684 shareholders, Currently, 54% of the
<br />shareholders are municipal and industrial users and 46% are agricultural users,
<br />
<br />PROJECT SERVICE AREA
<br />
<br />The service area for the project is located in Northeastern Larimer County as shown on the Project
<br />Location Map in Figure 1. The total area encompassed by these boundaries is approximately 42,000
<br />acres. Within these boundaries, The North Poudre Irrigation Company provides water for irrigation of
<br />about 24,000 acres,
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