Nov 6, 2013 5:06 PM by Andrew Ellison - email@example.com
CORPUS CHRISTI - A state constitutional amendment that was approved by voters last night could help Corpus Christi shore-up its water needs for the future.
Prop 6 will allow the state to lend money, $2 billion worth, at a low interest rate to cities all over Texas, helping them fund all kinds of water projects.
In short, it's cheap money and Corpus Christi is eager to get some.
The city is trying to get a chunk of that money to fund projects that will help meet our water demands in the coming years.
Projects like drilling wells and collecting water from underground, or desalination.
But the truth is all of these potential projects cost lots of money, especially the drilling.
City Water Director Gus Gonzalez explains.
"These are very very large projects where you're taking up a couple, two, three thousand acres of land, and then digging them out at significant depths. So it's quite expensive," he says.
And that's where Prop 6 really comes in, allowing cities like Corpus Christi to apply for financial help, and get cheap money to fund these projects.
It means the projects get done cheaper, and in the end, you at home benefit.
"Each project is probably 100, 150 million dollars on any given scale. So you're going to save some millions of dollars over the thirty year term," Gonzalez says, "That translates to minimizing the impact to the rate payer."
The city will have to apply for the funds with the state, and present the the projects they plan to do.
The funds will start to be awarded in 2015.