Texas Water Development Board approves $7,845,000 in loans to the Central Texas Water Supply Corporation
For immediate release. Contact: Kimberly Leggett at 512-463-5129
AUSTIN - (March 1, 2012) - The Texas Water Development Board (TWDB) today approved by resolution a $3,945,000 loan from the Rural Water Assistance Fund and a $3,900,000 loan from the Texas Water Development Fund to the Central Texas Water Supply Corporation (Bell, Burnet, Coryell, Falls, Lampasas, Milam and Williamson Counties) to finance water system improvements and to refinance existing debt.
The Central Texas Water Supply Corporation (Corporation) will use the Rural Water Assistance Fund loan to construct four high service pumps and to install approximately 25,000 feet of water line to improve water delivery to customers. The Texas Water Development Fund loan will be used to refinance four outstanding loans the Corporation has from the U.S. Department of Agriculture-Rural Development. This refinancing will decrease the annual payment amount required for the four loans by 42 percent. The lower payment will allow the Corporation to minimize the need for rate increases.
The TWDB is the state agency charged with collecting and disseminating water-related data, assisting with regional planning and preparing the state water plan for the development of the state’s water resources. The TWDB administers cost-effective financial assistance programs for the construction of water supply, wastewater treatment, flood control, and agricultural water conservation projects.