TMA supports passage of Proposition 2 on the Nov. 8 ballot. It gives the Texas Water Development Board authority to issue up to $6 billion in general obligation bonds to support Texas communities' ability to construct and maintain job-creating, local water projects that provide clean, affordable water.
Supporters say the proposal – which the legislature authorized earlier this year – will not cost state taxpayers any money, and the bonds will save local taxpayers money when building and financing water projects. The bonding authority granted by Proposition 2 is designed to be self-supporting, meaning that the bonds issued are repaid by the debt service of the borrowers and therefore do not count against the state's constitutional debt limit.
For more information, contact Heather Harward by tetephone at (512) 826-7490 or by email.
Early voting ends Nov. 4.
Action, Nov. 1, 2011