|
<br />. '.''',.
<br />Boulder a:d Left Hand irrigation c. Agenda Item 11d,
<br />Navembe 22,23,1999, (Updated Nav, 26, 1999)
<br />
<br />.
<br />
<br />Water i hts
<br />The B IC water rights consist of direct flow rights in amount of 97 cfs with an 1882
<br />approp iation date, and storage rights in amount of 1222 acre-feet with appropriation dates from
<br />1905 t 1947, from Boulder ,Creek, The Twin Lake~ storage decrees total 218 acre-feet.
<br />Recor of the State Engineer's Office indicate th~t the Company's average annual total
<br />diversi ns have been 2,584 acre-feet for years 1950 through 1996, Diversions for Twin Lakes
<br />have a :eraged 145 acre-feet.
<br />!
<br />
<br />Pro'ee Oescrl tion "
<br />Three 'ur alternatives were analyzed in the feasibi,lity study:
<br />
<br />1, he no-action alternative,
<br />2, epair the existing outlet works and enlarg~ the existing spillway,
<br />3, econstruct the outlet works and constructia new spillway ($140,500),
<br />
<br />I
<br />Alterna'ive 2, repair the existing outlet works and ~nlarge the existing spillway, was ruled out
<br />,
<br />becaus the existing spillway could not be enlarged to meet State Engineer requirements and
<br />becaus relining the existing outlet would reduce it~ capacity below that required for normal
<br />water liveries, The no-action alternative was cO'lsidered unacceptable since it would
<br />eventu Ily result in partial or total failure of the outl~t and inability to use Twin Lakes as an
<br />equaliz r reservoir. ;
<br />
<br />Select ' Alternative 3 involves construction of a new 30-inch steel outlet with new head gate at
<br />the up ream end, The spillway will be a 36-inch drop inlet structure incorporated into the outlet.
<br />A turna ound will be constructed atthe outlet to faqilitate operation and maihtenance of the
<br />system
<br />
<br />;
<br />The im lementation schedule calls for completion lilf financing arrangements in 1999/2000, with
<br />formal pproval and resolution by the BLHIC in ea~ly 2000, Engineering design will be finalized
<br />by Dec mber 1999, and submitted for State Engineer's Office review, Construction is
<br />schedu ad to start in March 2000 and be completed in April 2000,
<br />I ' :
<br />Finane ~I Anal sis ,
<br />The tot I estimated cost of the project is $140,500,: Staff is requesting that the Board increase
<br />the exi ing Small Project Loan to $100,000 (appr~ximately 71 % of the project cos!.) The
<br />BLHIC ill use its existing cash reserves to cover ijs $40,500 cost share,
<br />
<br />Table 1 is a summary of the financial aspects of th~ project. The BLHIC established a special
<br />assess ent of $40 per share in 1998 to pay for the Twin Lakes project, and the total
<br />assess ent for 1999 is $160 per share, Total asse'ssments will increase to $178 per share with
<br />a Cons' uction Fund loan of $100,000, The projectiitselfrequires annual assessments of $58
<br />per sh e ($40 per shareexisling, plus an $18 per ~hare increase), or $3,06 per acre-foot,
<br />based n average annual diversions 2,584 acre-fe.t.
<br />
<br />Water i used by the shareholders for agricultural Rurposes, The BLHIC would qualify for the
<br />CWCB gricultural Lending rate, The BLHIC has np existing debt.
<br />
<br />As sec rity for the loan the BLHIC will pledge assessment revenues backed by assessment
<br />covena : t, and facilities and/or other real property of value equal to the loan amount.
<br />I
<br />I
<br />
<br />2
<br />
|