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+~ <br />Mitch Albert, Ph. D. Page 2 <br />April 14, 1998 <br />of 6.5 percent. In January of each new year, any unused portion of Agile's 5 shares can be <br />stored in Twin Lakes Reservoir and applied to their next year's account as long as the total <br />account does not exceed 0.93 acre-feet per share (4.65 acre-feet total) and the new year <br />allotment does not exceed the storage capacity of the reservoir. <br />As required by Senate Bill 89-120 in Section 8, this substitute water supply plan has been <br />provided to an outside consultant for review. The consultant has recommended approval <br />of the plan by way of a draft of this letter. Based upon statutory requirements and the <br />recommendations of the consultant, I hereby approve the proposed substitute water supply <br />plan in accordance with Section 37-80-120, C.R.S., subject to the following conditions: <br />There must not be any ground water exposed as part of this operation. <br />Consumptive uses must not exceed 1.96 acre-feet for the first year of operation <br />(1.38 acre-feet per year of water lost in process dust suppression and 0.58 acre- <br />foot per year of water used for roadway dust suppression) and 2.48 acre-feet for <br />the second year. Should the total consumptive use at the pit exceed 1.96 and 2.48 <br />acre-feet per year, respectively, prior to the expiration date of this plan, an <br />amendment will need to be filed with this office. <br />2. Twin Lakes shall make releases from Twin Lakes Reservoir to the Arkansas River <br />in the name of Agile Stone Systems, Inc., to replace the gravel pit's proposed <br />depletions. Releases or deliveries of all water shall be coordinated with and under <br />the direction of the Division Engineer and the Augmentation Coordinator. <br />3. Adequate accounting of depletions and replacements must be provided to the <br />Water Commissioner and/or Division Engineer on a monthly basis or other interval <br />acceptable to both of them. The accounting should be in a format similar to that <br />shown in Table 1 and 2. In any case, the accounting form must show, at a <br />minimum: <br />a. The two categories of monthly consumption shown in the attached table, <br />b. The amounts of replacement water released to the Arkansas from Twin <br />Lakes Reservoir to replace the depletions due to the Parkdale Project <br />Gravel Pit (monthly and cumulative year-to-date), and <br />c. The amount of available water remaining in your account from the Twin <br />Lakes Reservoir. <br />The accounting form shall be sufficient to demonstrate that the net effective <br />replacement equaled or exceeded the total depletion on a monthly basis. All <br />replacement water must be concurrent with depletions in quantity, timing and <br />location, except that credits to the Offset Account may precede the depletions. <br />4. The 5 shares of Twin Lakes Reservoir and Canal Company stock cannot be sold or <br />leased to any other entity. As a condition of renewal of this plan, the 5 shares or <br />other sufficient water rights must be evidenced by a stock certificate assigned to <br />Agile and must be made appurtenant to the tract of land where the pit is located <br />until a plan for augmentation is obtained. This may be accomplished by recording <br />