Texas Water Development Board closes on a loan for $1,210,000 to the Greater Texoma Utility Authority on behalf of the City of Tom Bean (Grayson County) for a water supply project

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

AUSTIN – (December 10, 2015) –-The Texas Water Development Board (TWDB) today closed on a loan providing financial assistance in the amount of $1,210,000 from the State Water Implementation Fund for Texas (SWIFT) program* to the Greater Texoma Utility Authority on behalf of the City of Tom Bean (Grayson County). The Authority will utilize the financing for the planning, design and construction of a rural water supply project.

By using the SWIFT program, the Authority could save approximately $157,000 over the life of the loan.

The City of Tom Bean currently relies on two water wells for their water supply. The assistance provided today will allow for the City to construct a third water well to help meet current and future water demands.

On December 1, 2015, the application period for the 2016 funding cycle of the SWIFT program opened. Entities 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.