Texas Passes Water Finance Plan, But Still Needs $2B Funding

Law360, Dallas (May 21, 2013, 7:58 PM EDT) -- The Texas Legislature on Monday signed off on a revised plan to create a potential $2 billion fund to provide loans and bonds for major water infrastructure projects, but lawmakers are still awaiting votes on two key measures that would actually allocate money for the fund.

H.B. 4 creates the framework for The State Water Implementation Fund for Texas, or SWIFT, intended to serve as a water infrastructure bank available for low-interest long-term loans or to buy bonds to finance key projects that would increase the...
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