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<br />, <br />. <br /> <br />jhasten to add that this latter figure is purely a guess on my <br /> <br />P2,Yt:, since in the first place I don' t really knOl'l the actual <br /> <br />. I',:r,' (',:~ in today's market: and secondly, I do not wish to incur <br /> <br />tlw wrath of the cities in this area by establish.ing a price in <br /> <br />e~': -'55 of what they may be offering. <br /> <br />A point that I wish to make is that at least a tenfold <br /> <br />i,Ll:ease in the price of this ....,ater hu.s occurred during the past <br /> <br />.. f5,:;c,:;,en to t:wenty years,. The agricultural economy certainly ha.> <br /> <br />not increased anywhere approaching this figure. ]'.1 though in::'la- <br /> <br />t:i.<:>n has been great, it has not been that great. The pr.;;,,;~ary <br /> <br />reason for the price increase has been the competition among <br /> <br />cities and indust:r::y to acquire water. This situation is not <br /> <br />unique to the northeastern Colorado area. <br /> <br />Last year, the State of Colorado attempted to purchase <br /> <br />agricultural water to maintain a permanent pool in John Hartin <br /> <br />Reservoir on the Arkansas River. One of the farmers with whom we <br /> <br />were negotiating had listed his farm and water rights for sale at <br /> <br />an asking price of $40,000. Prior to our getting into the picture, <br /> <br />he had received an offer of $30.000, which he probably would have <br /> <br />. <br /> <br />accepted. As a part of a package deal with the other farmers in <br /> <br />the area, we offered him about $50,000 for his farm with the <br /> <br />provision that he could keep it. In other words, he was to give <br /> <br />up only his water and would retain his home, land and farm buildings. <br /> <br />-7- <br /> <br />~. <br /> <br />_.-~._--~----- <br /> <br />.-. '.~ ,- <br />