Closing a TWDB Commitment

Congratulations on receiving your financial commitment from the Texas Water Development Board. Your Board Action Letter identifies the financial assistance approved by the Board and any conditions associated with that commitment. Use this page to understand the steps, documents, deadlines, and responsibilities necessary to complete your closing.

Start Here

Have your Board Action Letter available as you work through this process.

1. Review your Board Action Letter

Confirm your approved funding amount, type of assistance, commitment conditions, expiration date, and TWDB contact. The resolution attached to the Board Action letter governs the specific terms and conditions of your commitment

2. Identify your type of financial assistance

Select the applicable closing path below

3. Begin planning your closing

Coordinate with your TWDB contact and your financial advisor, bond counsel, engineer, attorney, or other consultants, as applicable.

Choose Your Commitment Type

• Grants (Installments)
• Principal Forgiveness
• Loans
• Bonds

Plan Your Closing

Your closing date drives several earlier deadlines. Do not wait until your governing-body meeting to begin coordinating with TWDB

Closing Date Generator

Use the Closing Calendar Generator to help plan key dates for your closing.

Required Documents & Forms

The following forms and resources are commonly used during the closing process

• Sufficiency of Funds Statements (sample)
• TWDB-0608 - Closing Instruction Memorandum
• TWDB-0601 - Vendor Setup or Direct Deposit Form
• TWDB-0602 - Wire Transfer Letter Template with Instructions
• TWDB-0603 - Private Placement Memo Template
• TWDB-0604 - FA Loan Terms Template
• TWDB-0605 - Escrow Agreement
• TWDB-0606 - Sufficient Rates and Charges Certification
• TWDB-0607 - Blanket Letter of Representation
• TWDB-1201 - Budget Template for Projects

You may submit a request for release of funds via a completed outlay report (if required) prior to closing. Failure to provide a completed outlay report and draft closing memo by the required date may result in the release of funds after closing. In order to ensure a smooth and timely delivery of funds, we highly encourage you to coordinate with your consultants and submit drafts of documents to your TWDB contact for review ahead of your due date.

Note: If a source of funds and/or price certificates are needed, please contact Loan Closing Team.

Need Help?

Closing a TWDB Commitment FAQs

If you have any questions about the closing process, contact your TWDB contact listed in your Board Action Letter.