Texas Water Development Board approves $1,390,000 to the City of Springtown (Parker and Wise counties) for a water supply project
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 $1,390,000 low-interest loan from the State Water Implementation Fund for Texas (SWIFT) program* to the City of Springtown (Parker and Wise counties). The City will use the assistance to finance the planning, acquisition, design, and construction costs associated with a water supply project.
The City could save approximately $289,000 over the life of the loan by using the SWIFT program.
The water supply project includes the construction of two water wells, wellhead treatment facilities, and pipeline to existing ground storage tanks. When complete, the project will help ensure the City has reliable water supplies to meet projected water needs.
*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.