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The river-basin transjers (River-basin transjers) are often found that the rapidly growing water needs of the state (water needs within the city borders and water needs in the mining) require very large investments to meet. The latest and broadest measure of these is the project to transport and store a 400-mile-long Aquedact water from Northern California to Southern California, which the Federal Government has joined together. This project requires a very high investment He supplied water will meet the demand for water in the municipality and industry in Southern California, and in the San Joaquin Valley) the main area of use of the project water will be agricultural. The West San J Oaquin Valley is formed by 13 zones (district). 2 million acres of agricultural land will be benefited from the project water. Some of these zones, the project water He, will be the first deja to the irrigation water, and in other zones, the project water will be used to supplement the existing water resources and/or to reserve the subterranean water. The distribution of project water, which began to be used in 1968, is expected to change significantly in the product pattern of the region’s agriculture as being used as intensive in the West San Joaquin Valley. The expected variability is a requirement in a way in the West San Joaquin Valley where the unit (acre-foot) water is transferred to very high levels such as $9-$.46 (e.g. 1iUxek of the water cost of many regions). With the implementation of dynamic linear programming to the endless Dir pldntama horizon, the fastest increase in the region's net floating land is expected in the 10 years of the 1970-1980. According to the 1970 (the first time block of the model), the net floating land in the West San Joaquin Valley is expected to rise by 330 thousand acres to 1,194,000 acres (a 31 percent increase). Faith in the years prior to the project's water's sae11thirdsHr and due to the lack of sufficient irrigation water was neglected as long as the bond and fruit trees facility. It is expected that the facilities that require capital investments will gain importance in the region’s agriculture. For farming products and many varieties of vegetables, it will be possible to double-cropping (double-cropping) two products per year from the same land, the total harvested land growth is expected to be faster than the total harvested land growth. Thus, the project water's impact on the development of the region will be in two ways: "new land" and "intensity". The total harvested area will rise to its maximum within 10 years of the 1980-1990 period, the following year. For example, if you want to get a double product, you will be able to get a double product, and if you want to get a double product, you will be able to get a double product, and if you want to get a double product, you will be able to get a double product. The most likely forecast in regional agriculture is the increase of 20-25 times in the land assigned to shift, bond and fruit facility, and the increase of 3-5 times in the vegetable land. The bond, fruit trees, and vegetable special products (speciality crops) covered 4% of the area's hydrated mania in the previous period, while this rate is expected to rise to 26% in 1990. The use rate of underground water in 1990 will be 19% lower than the current level of water. In the year that the development will be completed (1990) only the percentage of the project water will remain unused, on the other hand, the amount of water that can be used every year without lowering the underground water level to a certain critical level (safe yield) will remain unused by approximately 20%. This is the land of the margin, which can be brought into production, and which is very intense, margin, which can be brought into production. Under the assumption that the outcome areas of speciality products in the region will occur at a level that will retain the product fiat at a fixed level and if a 7% interest rate (or discount) is used, the project’s global payment capacity will only be at a level that can fully pay the project’s water costs. If the interest rate is reduced to 5%, the global payment rate will show a significant increase. On the other hand, if the eKim area, which is allocated to speciality products in the region, rises to a level that will lower the prices of these products below the average of last years (19621968) by 5-10%, the project’s global payment capacity will fall to a level that can only cover 68% of the project water costs. The reassignation of the total speciality of the West San Joaquin Valley of the October product area according to the good quality land ratio that each zone has between the 13 zones of the region, will have a very little impact on the region’s global payment capacity, but will have a broad impact on the payment capacity of the zones as a monferit. If the producers of the speciality products cultivated regions across the country can keep the outskirts of these products at a level to a fixed price assumption, the global reimbursement capacity of pro· jenin is expected to rise to a level that will meet 89% of the total project water costs. This ratio is significantly higher than the estimated 68% for the situation in which speciality products will have a reductive effect by implementing their plans. SUMMARY ESTiMATiON Of FiNANCiAl FE,ASiBiLiTY OF A NEW iRRiGATiON PROJECT IN THE STATE OF CALIFORNIA OF U.S.A. As irrigation districts in the San Joaquin Valley westside area complete their distribution channels and laterals. A rapid increasein the net irrigated acreage is expected. The most rapid increase will occur in the 1970 - 1980 decades. By 1990, net irrigated land in the westside area is expected to grow by approximately 31 percent over the 1970 acreage. Due to the large amount of double-crop ping of field and vegetabl-e crops, totaI harvested acres iS expected to increase more rapidly than the acreage ofinigated land. Thus the total impact of the development reflects both the “new land” effect and the “intensification” effect. Total harvested acreage wlll reached a peak in the 1980s. 1990 and then decrease due to the replacement of double - cropped annuaI crops with perennial crops such as trees and vineyards. The most dramatic change in the area is an expected 20 to 25-fold increase in the acreage of trees and vineyards, while crops {trees. Vines, and vegetables} covered only 4 percent of the irrigated land prior to the water project, but are expected to increase to about 26 percent by 1990. in full development. ground water pumping will have decHned about 19 percent from current levels. Only 1 percent of the project water supply will go unused at full development whereas about 2Q percent of the safe yield of grcound water bas-in will go unused. About 12 percent of the irrigable Jand in the study area is projected to be left undeveloped at complation of the project· Almost all of these .Iands will be the marginal soils which require extensive reclamation programs to bring them into production. Assu!TI1ng that irrigation districts impılement tl:iei:r planting intentions and that speciality crop prices remain constant, the overall project water repayment capacity will just cover the overall project water costs at an interest rate of 7 percent. and lowering. the interest rate to 5 percent. sharply increases the ratio of payment capacity to water costs. Of implementation of district, intended plans cause speciality crop prices to be depressed on the order of 5 to 10 percent. overall project repayment capacity woul'd be reduced to ab~ ut 68 percent of over-all Project water costs. Reallocation of the total westside speci1ality crop acreage to districts on the basis of their supply of high-quality soils rather than on their intended plans changes repayment capacity very Iittle for westside as a whole. However, it markedly alters the repayment ca· pacity-water cost ratio in indivi· dual distrlcts. If speciality cro,p producers the State would reduce their acreage sufficiently to maintain constant prices, the ove· ral! Project water repayment capacity is estimated to be 89 percent of the total project water costs. This is si'gnlficantly greater than the repayment capacity-water cost ratio of 68 if the districts carry out their 'intended plans and depressed speciality crop prices result.