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. . AGUA's amended 1997 Replacement Plan, as submitted to the Division 2 Engineer, is for 19,452 acre-feet of well pumping for the current member wells. The estimated long- term replacement requirement for this level of pumping is about 8,950 acre-feet. AGUA does not own any water rights at the present time but leases, from various sources, all of the water used to replace member pumping depletions. Proposed Purchase AGUA has submitted a feasibility study, prepared by Rocky Mountain Consultants of Longmont, describing the pumping and replacement requirements of AGUA's member wells and six possible water rights acquisitions to offset a pcrtion of the replacement requirements. AGUA intends to acquire, through water rights purchases, 50 to 60 percent of its augmentation requirements over the next 25 to 30 years. Six water rights have been offered to AGUA for purchase. 1he feasibility study included a preliminary screening of the six water rights to: (I) estima':e average annual replacement credits, (2) evaluate timing and location characteristics of the water rights, and (3) evaluate the purchase price and other costs associated with use of the rights for augmentation purposes. The results of the evaluation are shown in Table 1, attached. Table I clearly shows that the Excelsior water rights at a pu:chase price of $864 per acre- foot and a total estimated implementation cost of$I,183 per acre-foot are the most cost- effective alternative. The location of the ditch on the mainstem of the Arkansas River between Pueblo and John Martin reservoirs also makes it very suitable for AGUA's augmentation program. The Excelsior Ditch diverts from the north bank of the Ark,iIlSas River about four miles east of Pueblo and has water rights priorities of May 1, 18E7 for 20 cubic feet per second (cfs) and January 6, 1890 for 40 cfs. The average annual diversion of the Excelsior Ditch for the years 1908 to 1985 was about 4,000 acre-feet. AGUA is proposing to purchase 1,007 shares (a 30-percent interest in the ditch) from Dick Evans. Mr. Evans is both the prospective seller of the water rights and the president of AGUA. Table 2 summarizes the major characteristics of the proposed acquisition. Table 2. Summary for Excelsior Ditch Purchase Water Rights Priorities May 1,1887 20 cfs Jan. 6, 1890 40 cfs Averaqe Annual Diversion, entire ditch (1908-1 H85) - 4,070 acre-feet 1,007 Shares at a total price of $650,000 Consumptive Use Credit for 1,007 Shares = 75:! acre-feet Cost per Acre-Foot = $864 2 '." J. " " I . . -. .