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<br />, <br /> <br />.\. <br /> <br />to the fallowing of productive farm ground. Through this agreement, lID can assist in California's <br /> <br />search for new water supplies and protect our water rights and our agriculturally based <br /> <br />community at the same time." <br /> <br />State Senator David G. Kelley (R-Idyllwild), who represents all ofImperial County and <br /> <br />portions of San Diego County, called the water transfer contract a "landmark agreement. " <br /> <br />"This landmark agreement--the largest water transfer in the history of California--is the <br /> <br />cornerstone component of the California 4.4 Plan and is critical to the solution to the Bay-Delta, " <br /> <br />said Kelley. "It will bolster Southern California's economy by protecting the Imperial Valley's <br /> <br />water rights and agricultural economy while assuring a reliable supply of water for the San Diego <br /> <br />region's $85 billion economic base." <br /> <br />Under the agreement's terms, lID would transfer conserved agricultural water to the <br /> <br />Authority for at least 45 years. Either party could extend the agreement by 30 years. Transfers <br /> <br />would total 20,000 acre-feet during the first year and would increase annually in 20,000 acre-feet <br /> <br />increments until they reached a minimum of 130,000 acre-feet or a maximum of 200,000 acre- <br /> <br />feet. If lID determines there is additional water available, the two agencies may agree to transfer <br /> <br />an additional 100,000 acre-feet a year, starting no sooner than 10 years after the start of <br /> <br />deliveries, <br /> <br />The water's cost would be determined through a formula outlined in the contract. The <br /> <br />fonnula takes the price the Authority pays MWD for water plus other MWD ,rates and charges <br /> <br />and subtracts the estimated price (based on legal interpretations) for transporting, or "wheeling," <br /> <br />the transferred water through MWD's Colorado River Aqueduct. Once that figure is determined, <br /> <br />the price would be discounted. The discount is 2S percent the first year, declining gradually until <br /> <br />- more - <br /> <br />SOc;1 <br />