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<br />acre to a high, in one case, of $10,000 per acre. The average across the seven rivers surveyed, <br /> <br />excluding the La Plata, was $2569 per acre. The average for irrigated land in each river basin is <br /> <br />depicted in Table I. <br /> <br />TABLE I <br /> <br />River Florida Pine Dolores Piedra MVID La Plata <br />Average per acre $3563 $1965 $1686 $2725 $2908 $2341 <br /> <br />To insure that our figures were conservative, we assumed that an average price of $4,000 <br /> <br /> <br />per acre - approximately $1,500 more per acre than the actual average - would have to be paid. <br /> <br /> <br />A standard assumption is also that each acre of irrigated cropland uses 3 acre\feet of water per <br /> <br /> <br />year. Again, in order to assure that our figures were appropriately conservative, we assumed that <br /> <br /> <br />each acre of irrigated cropland brought with it only 2.5 acre\feet of water. <br /> <br /> <br />Based on these conservative assumptions, and using a standard figure for contingencies <br /> <br /> <br />associated with land purchases, $115,000,000 would be sufficient to acquire the full settlement <br /> <br /> <br />amounts of water. It should be noted that the land which would be acquired represents a very <br /> <br /> <br />substantial additional value to the Tribes above and beyond the settlement amounts of water. <br /> <br /> <br />At least one relevant precedent for the creation of such a Fund for water rights purchases <br /> <br /> <br />exists in the Salt River Pima-Maricopa Indian Community Water Rights Settlement Act of 1988, <br /> <br /> <br />P.L. 100-512. In that Act, the willing-seller purchase of22,000 acre\feet of Colorado River Water <br />was made a part of an overa1I framework to settle claims by the Salt River Pima - Maricopa Indian <br />Community. Following that mode~ the Fund would consist of both principal and interest derived <br />from the state and federal contributions. <br /> <br />4 <br />