Texas Water Development Board approves $677,120,000 to the North Texas Municipal Water District (Collin, Dallas, Denton, Ellis, Fannin, Hunt, Kaufman, Rains, and Rockwall counties) for a water supply project

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AUSTIN – (July 20, 2017) –-The Texas Water Development Board (TWDB) today approved by resolution financial assistance in the amount of $677,120,000 from the State Water Implementation Fund for Texas (SWIFT) program* to the North Texas Municipal Water District (Collin, Dallas, Denton, Ellis, Fannin, Hunt, Kaufman, Rains, and Rockwall counties).

By using the SWIFT program, the District could save approximately $5 million over the life of the $44,650,000 loan that they will close on this fall. Additional savings will occur when the District closes on the other portions of the loan.

The assistance approved today will allow the District to perform pre-construction work associated with Lower Bois d'Arc Reservoir and its associated water treatment plant. The assistance also includes the construction costs of the treatment plant.

*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.