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shows the projections for the City <br />of Louisville's water demands of <br />9,018 acre feet. The interim demand <br />between where we are today and where <br />we are in the ultimate is 6,200 acre <br />feet. That is with conservation and <br />with the Golf Course involved. <br />Another item we looked at was <br />Marshall Lake and tried to work out <br />a two way agreement with FICO on the <br />Lake. We analyzed it from the 1992 <br />through 2004. We looked at it <br />financially, but because we're <br />dealing with history here, we looked <br />at run-off conditions, which are <br />similar to 1957 to 1969. We <br />inflated the dollars based upon 1992 <br />to 2004 and it's a little cheaper <br />for the City to continue to do what <br />it's doing right now. Basically, <br />leasing the space in Marshall <br />Reservoir. That could change a <br />number of factors in the future. <br />The problem with the way it's set up <br />is that in so many years it will be <br />zero and then another year it'll <br />jump real high. Annual cost to <br />lease goes from zero in a hydrology <br />year of 1964, to a maximum of <br />49,000, because there is a lot of <br />water to be stored in that one year. <br />So, there is a disadvantage to doing <br />what the City is doing now. In the <br />long term we should look at other <br />consideration, so that is we're <br />going to negotiate that type of <br />arrangement with FICO, we would look <br />other considerations that are of <br />benefit to the City of Louisville. <br />We analyzed the City's existing <br />portfolio of water rights against <br />what we have historically perceived <br />them to have yielded. The City's <br />portfolio of water rights is really <br />adequate for a long way into the <br />future based on average yields. <br /> <br />Mayer: <br /> <br />Mr. Phare, the "interim demand", <br />what equivalent population does that <br />equal? <br /> <br />Phare: <br /> <br />The current demand for this year is <br /> <br />16 <br /> <br /> <br />