Texas Water Development Board approves $34,835,000 to the City of Corpus Christi (Nueces County) to refinance the Choke Canyon Dam Project
For immediate release. Contact: Kimberly Leggett at 512-463-5129
AUSTIN – (October 17, 2017) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $34,835,000 from the Texas Water Development Fund to the City of Corpus Christi (Nueces County). The City will use the assistance to refinance the construction of the Choke Canyon Dam project.
The City could save approximately $7.9 million over the life of the loan by using the Texas Water Development Fund.
The financial assistance approved today will be used to refinance the City’s outstanding loan with the United States Bureau of Reclamation that was issued to construct Choke Canyon dam and reservoir.
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.