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<br />. <br /> <br />. <br /> <br />\. <br /> <br />Southern Nevada Water Authority's Storage of Mainstream Water with MWD <br /> <br />The Southern Nevada Water Authority (SNWA) notified Reclamation and MWD <br />in letters, dated November 18, 2004, that it intended to store 10,000 acre-feet of Nevada <br />unused 2004 apportionment with MWD. This arrangement is possible pursuant to a <br />recently executed Storage and Interstate Release Agreement (SIRA), This complements <br />an earlier action by SNWA to store 10,000 acre-feet in the Arizona Water Bank, pursuant <br />to a SIRA executed with the State of Arizona. <br /> <br />In a related note, included in the Board folder is a copy of a recent article <br />published in the Arizona Republic on December 3'" regarding Nevada's intention to <br />acquire up to 1.25 million acre-feet of mainstream water stored in the Arizona Water <br />Bank, in exchange for $330 million and a pledge to assist Arizona in restoring "top- <br />priority status" to mainstream water diverted and conveyed via the Central Arizona <br />Project (CAP). The proposed agreement is to be presented to the Arizona Water Banking <br />Authority during its December meeting and provides that the water delivered in <br />increments over nearly two decades, SNW A would make an initial lump sum payment of <br />$100 million and then followed by ten installments of $23 million, beginning in 2009, <br />Nevada has indicated that it would be willing to pledge political support to aid in firming <br />the priority of Arizona's CAP water supply. <br /> <br />MWD/A WBA Recovery Agreement for 2005 <br /> <br />As you may recall, MWD has stored 89,000 acre-feet of mainstream water in <br />Arizona, pursuant to the 1992 Demonstration Agreement. MWD proposes to recover <br />40,000 acre-feet of the previously stored water during 2005. The Long-Term Storage <br />credits developed as a result of the 1992 Demonstration Agreement would then be <br />transferred to the Arizona Water Banking Authority and converted to Intentionally <br />Created Unused Apportionment and scheduled for diversion by MWD at its Whitsett <br />Diversion facilities in Lake Havasu. Copies of the December 1,2004, proposed letter <br />agreement between MWD and the A WBA, and MWD's September 2, 2004, letter to <br />CAWCD requesting delivery of the previously banked water, are included in the Board <br />folder for your information, <br /> <br />BasinStatesrrribes Discussions <br /> <br />Lower Basin States' Response to Upper Basin States' Concerns <br />Regarding Colorado River Allocations <br /> <br />On November 16tb, the Lower Basin states responded, via letters, to the <br />Governor's representatives in the Upper Basin states and to the Secretary of the <br />Department of the Interior regarding the concerns expressed by the Upper Basin states <br />associated with water delivery obligations pursuant to the Colorado River Compact, <br />Boulder Canyon Project Act, and Decree in Arizona v. California. The Lower Basin <br />states have scheduled a meeting of the Basin States representatives to discuss and better <br />understand the concerns of the Upper Basin states, The meeting will he held in Las <br /> <br />6 <br />