Funds for Windy Gap Pumps to Provide Environmental Flows Sample Clauses

Funds for Windy Gap Pumps to Provide Environmental Flows. Beginning with the year the Moffat Project becomes operational, Denver Water will place $500,000 into an interest bearing fund (WG Pumping Fund) acceptable to and controlled exclusively by Grand County. Two years after the fund is established, Denver Water will place a second $500,000 into the Fund. The WG Pumping Fund shall be used by Grand County for the sole purpose of paying up to 50% of the annual costs for using the Windy Gap Pumps to pump water for environmental purposes. The WG Pumping Fund may increase over time due to interest income and lower-than- expected use of the Fund, and will be capped at $2 million dollars. Any amount in excess of $2 million at the end of a calendar year will be transferred to the Cooperative Effort established in Article III.E.6 above for environmental improvement projects identified in that process. Grand County, in its sole discretion, can elect to transfer all or a portion of the WG Pumping Fund to the Cooperative Effort if Grand County determines that such a transfer would provide greater environmental value.
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