The Authority provides its member cities and other local public water or wastewater providers with assistance in financing and construction of water and wastewater facilities.
The Authority can secure financing for public water suppliers at the lowest possible costs through the Texas Water Development Board (TWDB) using our bond rating to secure a more favorable interest rate and term than many of our cities could obtain from traditional banks.
The Authority holds the most bonds with TWDB at 125 projects accounting for over $290 million. The Authority can efficiently navigate the funding process with TWDB. The Authority provides a full staff for your financing needs who will complete, with the City/Public Entity and Engineer's assistance, all applications and assessments.
The Authority provides a wide range of services to meet the Authority's member cities and local water and wastewater system's financial needs. The Authority provides the following:
The Authority obtains approval from the entity's board/council prior to applying for financing, bond closing, award of contract, change orders, and project closeout.
The mission of the Texas Water Development Board (TWDB) is to lead the state's efforts in ensuring a secure water future for Texas and its citizens. TWDB's mission is a vital part of Texas' overall vision and the state's mission and goals that relate to maintaining the viability of the state's natural resources, health, and economic development. Through TWDB's Clean Water State Revolving Fund, Drinking Water State Revolving Fund, State Water Implementation Fund for Texas, and Texas Water Development Fund, the Authority can provide member cities and local water and wastewater systems with cost-effective loans that provide for the planning, acquisition, design, and construction of water supply and water quality related infrastructure.
The Clean Water State Revolving Fund and Drinking Water State Revolving Fund program is a federal-state partnership that provides communities with low-cost financing for a wide range of
water and wastewater projects. The Clean Water Fund can only be used for wastewater-related projects and the Drinking Water Fund can only be used for water-related projects. Both funds
provide below-market interest rates that are at least 30% below market rates. Additionally, the funds provide principal forgiveness on a limited basis to eligible disadvantaged communities,
small/rural disadvantaged, green projects, emergency preparedness, and urgent need projects. Projects funded by these funds are subject to the Disadvantaged Business Enterprise program (DBE), American Iron and Steel, and Davis-Bacon wage rate requirements.
The State Water Implementation Fund for Texas (SWIFT) program helps communities develop and optimize water supplies at cost-effective rates that are at least 10% below market rates. Eligible projects include conservation and reuse, desalinating groundwater and seawater, building new pipelines, developing reservoirs and wells fields, purchasing water rights, as well as numerous other strategies included in the State Water Plan. If the project or strategy isn't included in the latest State Water Plan, the Regional and State Water Plan has to be amended prior to the time abridged applications are due to TWDB for consideration. Projects funded by these funds are subject to US Iron and Steel, and Historically Underutilized Business reporting.
The Texas Water Development Fund (DFund) provides loans for planning, design, acquisition, and construction of projects for water supply, conservation, water quality enhancement, flood control, and wastewater projects. The DFund takes advantage of the State of Texas AAA bond rating to fund projects at TWDB's cost of funds rate. Projects funded by these funds are subject to
US Iron and Steel requirements. Access to the program is on a periodic basis and there is no raking or prioritization of projects applying for the program.
The Authority can secure financing on the open market using the Authority's excellent bond rating to secure the best possible interest rate. Receiving funding through the open market is
quicker and less restrictive but difficult to obtain for small projects. The interest rates are higher than TWDB's financial assistance yet still remain more competitive than traditional bank loans.
The Authority serves its member cities and local water and wastewater system to provide the most cost-effective financing for their water and wastewater projects. The Authority Staff is dedicated to the wide range of services the Authority provides member cities and local water and
Greater Texoma Utility Authority 5100 Airport Drive Denison, TX 75020 US
08:00 am – 05:00 pm
Greater Texoma Utility Authority
5100 Airport Drive
Denison, TX 75020
© 2019 Greater Texoma Utility Authority