Texas Water Development Board approves $12 million to the City of Justin (Denton County) for water system improvements
For immediate release. Contact: Kimberly Leggett at 512-463-5129
AUSTIN – (July 20, 2017) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of a $12 million multi-year, low-interest loan from the State Water Implementation Fund for Texas (SWIFT) program* to the City of Justin (Denton County). The City will use the assistance to finance the design and construction costs associated with water system improvements.
By using the SWIFT program, the City could save approximately $506,000 over the life of the $2.4 million loan they will close on this fall. Additional savings will occur when the City closes on the other portions of the loan.
With the assistance approved today, the City will replace approximately 38,000 linear feet of pipeline. The improvements will allow the City to conserve water and operate a more efficient water system.
*The SWIFT program 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.