TO: Honorable Mayor and Council
FROM: Doyle Wilson, Water Resources Coordinator
SUBJECT:Title
Adopt Resolution No. 15-2932 Approving Subcontract No. 3 with the Mohave County Water Authority
Body
FUNDING SOURCE:
CIP-Irrigation and Drainage District Fund
PURPOSE:
To approve a subcontract to reimburse Mohave County Water Authority (MCWA) for firming the water Lake Havasu City acquired in Amendment No. 2, Subcontract 95-101 with the Arizona Water Banking Authority (AWBA).
BACKGROUND:
Water firming is best described as long term water storage credits. Lake Havasu City requested and received an amendment to the existing subcontract (95-101) to add 250 acre-feet to the City's Colorado River water entitlement. This water was also firmed through MCWA with the AWBA until 2096. Subcontract No. 3 with MCWA allows the transfer of the firmed water to the City. Due to the firming or long term water storage credits, the amount of this water is 955 acre-feet.
COMMUNITY IMPACT:
These long term storage credits will provide greater security during declared Colorado River shortages and augments existing water storage credits with the AWBA.
FISCAL IMPACT:
Funds have been budgeted in the Water Division CIP Project WT7300. Total Reimbursement to MCWA for its cost to firm the water with the AWBA is $19,100. Payments can be spread out through to the end of 2024.
ATTACHMENTS:
Resolution No. 15-2932
Subcontract No. 3 with MCWA
SUGGESTED MOTION:Recommended Action
I move to adopt Resolution No. 15-2932 approving Subcontract No. 3 with the Mohave County Water Authority to firm future supplies of Colorado River water.