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C'J redistribution of the ownership of present water ownership to include the ~ ~ holders of about 2000 acres of land with very little interest in existing water rights and to enable farmers to make land development and to equip themselves to take full advantage of the additional water it is suggested that a 3 year development period be allowed after starting the use of project water before starting construction repayment. Repayment Organization Two water user organizations are active in the project area. The Farmer's Irrigation Company, owner of the Grass valle.y Cana~ and the Harvey Gap Reservoir, serves water to 5220 acres of the 5560 acres within the project boundry. The majority of the new I and to be served water by the project is also under irrigation facilities of the Farmer's Irrigation Company. A second water users organization, the silt Public Irrigation District, organized in 1936 under provisions of Chapter 145 Section Laws of the state of Colorado 1935, includes in its boundary.prac- tically the same area as that proposed for irrigation service by the project. The Farmer's Irrigation Company is a mutual stock company incorporated under the state Laws of Colorado. A total of 4, 126 shares of stock have been issued by the company. Each share of stock participates equally in the annual water assets and in the operation, maintenance and repair obligations of the company. The prevailing stock ownership is slightly less than 1 share per acre for the 4090 acres of irrigated land under the Harvey Gap Reservoir and about 1 share per 10 acres for the 1130 acres of irrigated land under the Grass Valley canal above the Harvey Gap Reservoir. The Silt Public Irrigation District has no irrigation works or water rights and is active only in advancing irrigation within the 9