State revolving loan funds (SRFs) were established in order for states to be able to fund infrastructure improvements. The establishment and administration of an SRF in Texas is discussed in this article. It illustrates how a successful SRF works. The Texas State Water Pollution Control Revolving Fund came into existence on June 17, 1987 by an act of the state legislature. It is a perpetual fund through which the Texas Water Development Board (TWDB) provides low interest loans to Texas communities for construction of wastewater treatment facilities. The fund is managed by the state with minimal federal oversight. The initial money for the SRF came from federal capitalization grants with 20% from a state match, as authorized by the 1987 Water Quality Act and state legislation. In essence, the state of Texas has borrowed funds on the bond market to finance water projects. At the same time, money is loaned to municipalities through the SRF. When the payments on the loans come back from the minicipalities, the SRF uses the interest portion of the payment to pay on the bond.

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  • Corporate Authors:

    Associated General Contractors of America

    2300 Wilson Boulevard, Suite 400
    Arlington, VA  United States  22201
  • Publication Date: 1989-11

Media Info

  • Features: Photos;
  • Pagination: p. 50-51
  • Serial:
    • Constructor
    • Volume: 71
    • Issue Number: 11
    • Publisher: Associated General Contractors of America
    • ISSN: 0162-6191

Subject/Index Terms

Filing Info

  • Accession Number: 00490104
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Dec 31 1989 12:00AM