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New Cache La Poudre Irrigating Company <br />Case Nos. OICW201/01CW288 and 04CW343 <br />Page 8 of 20 <br />water is diverted pursuant to this decree to recharge in excess of what is ultimately <br />needed to satisfy the said recharge/augmentation requirements, Applicant may sell or <br />lease said excess recharge water ("Excess Credits") to a third party for use either inside <br />or outside of Applicant's service area; however, Applicant shall not divert water to <br />recharge pursuant to the water rights decreed herein with the intent or for the purpose of <br />generating Excess Credits. Water stored in Cornish Plains Reservoir and Barnesville <br />Equalizer may also be used to equalize and aid in the equitable distribution of water <br />delivered to Applicant's shareholders. The water will be used for municipal purposes by <br />Applicant's shareholders, which include the Town of Windsor and the City of Greeley. <br />8. Conditional Water Rights Made Absolute. Since filing of the applications in this matter <br />Applicant has diligently pursued the completion of the conditional water rights described <br />herein, and has diverted and beneficially used the following amounts of water pursuant <br />thereto, for which Applicant is therefore entitled to an absolute water right: <br />8.1. Cornish Plains Reservoir first fill): 1,847.7 acre-feet ABSOLUTE, with 807.3 acre-feet <br />remaining CONDITIONAL. <br />8.2. Greeley Canal No. 2 from the Cache la Poudre River: 104 c.f.s. ABSOLUTE, with 546 <br />c.f.s. CONDITIONAL. <br />9. Can and Will. The Court finds that Applicant has demonstrated continued intent and progress <br />toward finalizing the conditional water rights and that it can and will divert and store the <br />waters needed to exercise the rights described herein, and that Applicant can and will put the <br />water to beneficial use. In reaching this finding, the Court also finds that: <br />9.1. Water Availability. Applicant has demonstrated that water is legally and <br />physically available to divert in priority pursuant to these appropriations. <br />9.2. Economic and Technical Feasibility. Applicant has completed construction of the <br />two reservoirs and the diversion structures. <br />II. CONCLUSIONS OF LAW <br />10. Incorporation of Findings of Fact. The foregoing Findings of Fact are incorporated herein, <br />and made part of these Conclusions of Law as if fully set forth. <br />11. Filing. The applications herein were filed with the Water Clerk in accordance with the <br />provisions of §37-92-302(1)(a). <br />12. Contemplated by Law. The applications herein are contemplated by law, and the conditional <br />and absolute water rights decreed herein are permissible as a matter of law and come within <br />the definitions authorized by law. C.R.S. §§37-92-103, 302 and 305. <br />