Texas Water Development Board approves $1,630,593 to the Palo Pinto Water Supply Corporation (Palo Pinto County) for water system improvements
For immediate release. Contact: Sarah Haney at 512-463-5129
AUSTIN – (April 10, 2019) – The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $1,630,593, consisting of a $615,000 loan and $1,015,593 in loan forgiveness, from the Drinking Water State Revolving Fund to the Palo Pinto Water Supply Corporation (Palo Pinto County). The Corporation will use the assistance to finance planning, design, and construction costs associated with water system improvements.
By using the Drinking Water State Revolving Fund, the Corporation could save approximately $553,000 over the life of the loan.
The assistance approved today will allow the Corporation to replace water pipeline, construct a new elevated storage tank, and install new feed pumps.
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.