As the population of Texas continues to grow, it is vital that all Texans have an adequate water supply and the necessary treatment/transmission facilities.
On November 5, 2013, Texans will vote on a proposed amendment to the Texas Constitution– to create a new program to assist in financing the water supply projects in the State Water Plan.
Passage of Proposition 6 will help to ensure public health, water availability, and economic viability of Texas for years to come.
“The future of North Texas depends on having an adequate, dependable supply of water,” states Todd Madison, President of the Board of Directors of Upper Trinity Regional Water District. “To ensure families, businesses and future generations have a reliable water supply, the Board of Directors recently passed a resolution in support of the proposed constitutional amendment.”
If passed, this proposition will provide a source of revenue to assist in financing projects in State Water Plan. Proposition 6 will authorize the transfer of $2 billion from the Economic Stabilization Fund to finance the newly created State Water Implementation Fund for Texas and the State Water Implementation Revenue Fund for Texas.
“Texas cities, counties, water districts, river authorities and nonprofit water supply corporations, including Upper Trinity, will be eligible to use this new financial assistance program and will benefit from the passage of Proposition 6,” states Thomas E. Taylor, Upper Trinity’s Executive Director. The funds from the Economic Stabilization Fund will be used to operate a self-supporting loan program – – based on the bonds being paid from principal and interest payments received from cities and utilities participating in the load program.
“The Board of Directors encourage all citizens in the Upper Trinity service area to seriously study this proposed constitutional amendment, evaluate its benefit and then go to the polls and vote,” states Mr. Madison.