HomeMy WebLinkAbout1971 CS Council Endorse Water Quality DevelopmentCOLLEGE STATION
COUNCIL ENDORSE WATER
(QUA XX D�WO M l T
The C 1lege S a$on of c.os woi�� % inc ease
City Council has en-
dorsed Amendment No.
4 which will be voted on
at the May 18 special
election.
The proposed amend-
ment permits the Texas
Water Development
Board to issue addition-
al water development
bonds up to $100 million
for use in providing
gams or loans to
cities in order to qualify
them for Federal match-
ing funds for water qual-
ity improvement,; .WCr-
grams.
The council noted that
the adoption of the a-
mendment would "make
it possible for the State
of Texas to realize a
greater return on tax
dollars now going to
Washington, since the
Federal matching share
from a maximum of 33
per cent to 55 per cent.
The amendment will
also increase the rate of
interest to not more than
6 per cent rather than the
current 4 per cent, which
will make it possible to
sell the bonds in today's
competitive bond mar-
ket, the council said.
"The passage of the
proposed. amendment
No. 4 would make more
funds available to assist
loca i governments in
providing facilities to
adequately treat and
dispose of their wastes,
thereby enhancing the
quality and quantity of
the state's water and
lifting some of the tax
load from already over-
burdened city tax-
payers," the resolu-
tion said.