Garwood Irrigation Company - Page 9

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          to steward water resources and protect users in the Colorado                
          River Basin.  The transfer of petitioner’s water out of the                 
          Colorado River Basin would have diminished the amount of water              
          consistently available for future use within the Colorado River             
               The city of Austin (Austin), the Colorado River Municipal              
          Water District, and property owners around five reservoirs                  
          created and owned by the LCRA also expressed their intention to             
          oppose the granting of an amendment to petitioner’s certificate             
          necessary for the Corpus Christi transaction.  Nevertheless, the            
          LCRA was not confident that it would be successful in blocking              
          the transfer to Corpus Christi.                                             
               C.   Anticipation of the 1997 Legislative Session                      
               Texas experienced a severe drought in the summer of 1996,              
          which was alleviated as of the valuation date.  As a result of              
          the drought, on August 30, 1996, the TNRCC issued a report                  
          recommending legislative guidance on the criteria to be used in             
          making determinations regarding applications for interbasin                 
          transfers.  In addition, other interested parties were lobbying             
          the Texas legislature to make the rules regarding interbasin                
          transfers both more and less restrictive.  The interbasin                   
          transfer issue was expected to be considered at the 1997                    
          legislative session, which was to convene on January 14, 1997.              
          Within the Texas legislature there was support for expanding the            

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Last modified: May 25, 2011