Texas Water Development Board approves $4,635,000 to the Trophy Club Municipal Utility District No. 1 (Denton and Tarrant counties) for a water supply project
For immediate release. Contact: Kimberly Leggett at 512-463-5129
AUSTIN – (July 21, 2016) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $4,635,000 from the State Water Implementation Fund for Texas (SWIFT) program* to the Trophy Club Municipal Utility District No. 1 (Denton and Tarrant counties). The District will be able to finance acquisition, design, and construction costs associated with a water supply project.
The District could save approximately $508,000 over the life of the loan by using the SWIFT program.
The District will use the assistance approved today to finance a joint project with the City of Fort Worth and the City of Westlake. The project includes the construction of a 30-inch transmission pipeline from an existing Fort Worth transmission main to an existing District transmission main at a connection point near the Westlake West Pump Station. When complete, the project will allow the District to meet water delivery infrastructure needs outlined in the 2017 State Water Plan.
*The SWIFTprogram includes two funds, the State Water Implementation Fund for Texas (SWIFT) and the State Water Implementation Revenue Fund for Texas (SWIRFT). Revenue bonds for the program are issued through SWIRFT.
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.