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<br />categories and target prices within each of the groundwater withdrawal rights acquisition <br />strategy categories, including, but not limited to: <br /> <br />(i) purchase of groundwater rights; <br />(ii) purchase of agricultural land with associated severable groundwater <br />rights; <br />(iii) lease of groundwater rights; and <br />(iv) other. <br />The Management Council shall transmit the target prices on a confidential basis to <br />Administrator and to Agent and R WRDG participants, prior to the time for participants to <br />report their semiannual orders to the Administrator as provided in Section 7 herein. The <br />Administrator, Agent and RWRDG participants shall maintain these target prices as <br />confidential unless otherwise determined by the Management Council. <br /> <br />Section 7. Semiannual Determination of Aggregate Demand for Edwards Aquifer <br />Groundwater Withdrawal Rights <br /> <br />At a time designated by the Administrator after receipt of the semiannual target prices by <br />the RWRDG participants as provided in Section 6 herein, RWRDG participants shall <br />communicate their semiannual order for groundwater withdrawal rights to the <br />Administrator on a form to be developed for that purpose by the Administrator. RWRDG <br />participants which enroll during a semiannual period after the time designated by the <br />Administrator to place orders shall be ineligible to participate in acquisitions of Edwards <br />Aquifer groundwater withdrawal rights during that period, but shall be eligible to <br />participate in the next period's orders/acquisitions. The Administrator shall for each <br />semiannual period calculate the aggregate demand of all R WRDG participants and shall <br />transmit this information to the Agent. The Administrator and Agent shall maintain this <br />aggregate demand information as confidential unless otherwise instructed by the <br />Management Council. <br /> <br />Section 8. Authority of Agent to MaI{e Acquisitions of Edwards Aquifer <br />Groundwater Withdrawal Rights <br /> <br />Agent shall use its best efforts to obtain Edwards Aquifer groundwater rights in each of <br />the groundwater acquisition strategy categories up to the volumes determined to be the <br />aggregate demand of the RWRDG participants and at the target prices determined by the <br />Management Council. Administrator shall provide Agent with power of attorney and <br />other necessary authority to act on behalf of the Administrator and the R WRDG at the <br />target prices and aggregate demand volumes established and shall grant Agent a limited <br />agency and power of attorney sufficient to carry out the duties set forth in the Interlocal <br />Agreement and herein. <br /> <br />\\COSER VER\DAT A \LEGWP\PBB\ACQUISIThopes.j99.doc 4 <br />