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Texas Water Development Board closes on loan for $705,000 to the City of Marfa (Presidio County) for a water well project

For immediate release. Contact: Media Relations at 512-463-5129

AUSTIN – (November 20, 2015) –-The Texas Water Development Board (TWDB) today closed on a loan providing financial assistance in the amount of $705,000 from the State Water Implementation Fund for Texas (SWIFT) program* to the City of Marfa (Presidio County). The financial assistance will allow the City to complete its rural water supply project consisting of the planning, design and construction of a water well.

The City could save approximately more than $88,000 over the life of the loan by using the SWIFT program.

The City has three water wells, including one that is no longer in operation. The new water well will replace the nonfunctional well to ensure that there is an adequate water supply to meet the City's water demands.

On December 1, 2015, the application period for the 2016 funding cycle of the SWIFT program will open. Entities will have until February 5, 2016, to submit a preliminary, two-page application. Applications may be submitted via TWDB's new online application or by paper-copy.

*The SWIFT program includes two funds, the State Water Implementation Revenue Fund for Texas (SWIRFT) and the State Water Implementation Fund for Texas (SWIFT). Revenue bonds for the program are issued through the 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.