From the Office of State Senator Juan "Chuy" Hinojosa

FOR IMMEDIATE RELEASE
April 28, 2011
CONTACT: Daniela Santoni
(512) 463-0120
(281) 536-7114

FURTHERING THE REACH OF TEXAS' MOST SUCCESSFUL PUBLIC FINANCING AGENCY

(Austin, TX) — This afternoon, the Senate approved Senate Joint Resolution 4, giving Texans an opportunity to vote on a constitutional amendment that will allow Texas to fund its projected water plan in a fiscally responsible way. This Resolution is a Sunset Commission recommendation for the Texas Water Development Board's (TWDB) ability to issue bonds to help jurisdictions finance their water infrastructure projects. Senator Juan "Chuy" Hinojosa released the following statement.

"Enhancing the bonding authority of the Texas Water Development Board would make it possible for more cities and counties to adequately plan and finance their water infrastructure projects at a lower cost than what would be possible otherwise.

"These bonds will make it possible to fund our State Water Plan, estimated at 30 billion dollars, with continuing bonding authority in the hands of the Texas' must successful public financing agency. The Texas Water Development Board can access low interest bonds and has a zero default rate - it will be a vital tool in successfully implementing the state plan.

"We can't underestimate the economic impact investing in infrastructure can have in our growing communities. The growth demand in Texas is increasing, and we need a better way to fund our wastewater treatment plans, flood control projects and water conservation plans to help communities develop sustainably.

"This bonding authority would help us fund the infrastructure needs of today and tomorrow. Without the Water Development Board, water infrastructure projects would slow down to a crawl - I hope Texans will support this in November."

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