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<br />~ i ;; ....;I4'! . <br /> <br />.:"iD:~~f~5 <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Forks water would be $80 per acre-foot of yield per year, the alternative cost would be <br /> <br />$45 per acre-foot per year. <br /> <br />Priority of Ri!!ht <br /> <br /> <br />The Three Forks Project has a priority date of 1972. This date is not particularly <br /> <br /> <br />early nor is it prior to some controlling event such as the Upper Colorado River Compact. <br /> <br /> <br />Also, there are few developed water rights on the Little Snake River post-1972. <br /> <br />Therefore, if the Three Forks Project water rights were to be cancelled and re-filed in <br /> <br />1990, the yield of the proposed development would be affected only slightly. To confirm <br /> <br />this deductive hypothesis, the WIRSOS model of the Little Snake River was reoperated <br /> <br />with the Three Forks Project assigned a priority of 1990 (Scenario 4 of WWC, 1990). The <br /> <br /> <br />yield of the 1990 water right is the same as for the 1972 priority. <br /> <br />The implication of this finding is that the conditional water right has little value. <br /> <br />Also, if P & M were to cancel or drop its water rights, some entity could theoretically <br /> <br />refile on the project with a 1990 priority and cause the same impacts to the flow of the <br /> <br />river as the existing proposed project. Thus, if a sale of P & M's water rights were to <br /> <br />take place, some assurance would be required that the project could not be re-filed. The <br /> <br />means of accomplishing this is not known. <br /> <br />Cost of FiJi"!! and Desi!!" Work <br /> <br />As noted above, the State of Wyoming purchased the conditional water right for <br /> <br />the Middle Fork Reservoir on the Powder River. The negotiated price was based on the <br /> <br />15 <br />