Water Board Says Prop 6 to be Major Benefit for City

Proposition 6 is set to take 2 billion dollars from the state's "Rainy Day" fund and set it aside for future water projects. Lubbock County voters overwhelming supported the measure in yesterday's election.

"We're in the middle of a drought. It's on people's minds."

And the people of Lubbock made that clear when they went to the polls yesterday. Proposition 6, a measure to help fund the state's water plan, passed by 74 percent.

"There was some concern whether or not it would actually pass if there was a low voter turnout," according to Aubrey Spear, Lubbock's Director of Water Resources. 

Prop 6 reallocates two billion dollars from the state's rainy day fund. It creates a new fund that will finance water projects by offering lower interest rate loans to local water authorities.

"Less red tape, more buy down on the interest rates. The City of Lubbock will want to take advantage of that to save money," Spear says. "They still have to pay the money back. But, you can save on some of the larger projects that the city might engage in millions of dollars on interest."

20 percent of the State Water Implementation Fund of Texas (or SWIFT) will exclusively finance conservationist projects. Another 10 percent will be set aside for rural water planning.

Spear sums up the significance of future water planning in one line.

"We can't thrive as a community, we can't thrive as a region, without water."

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