By Lt. Governor David Dewhurst
Texas Insider Report: AUSTIN, Texas – Throughout our state’s illustrious history, we have experienced droughts of various duration, severity and impact. The worst to date brought us the Dust Bowl days of the 1930s or the “time it never rained” in the 1950s. Since late 2010, Texas has suffered through a drought of historic proportions which affects all Texans, whether they use water for watering cattle, providing electricity to heat and cool our homes, facilitating oil and gas production or simply cooking a family meal.
With the nation’s best economy and a population on track to almost double in the next 50 years, our state is at a crossroads. On Tuesday Texans can take a serious step toward maintaining our economic strength and sustaining our singular quality of life by supporting Proposition 6.
The current drought isn’t the first to hit Texas and we can be sure it isn’t the last. That’s why I have worked so hard to provide for our future water supply needs. From the beginning of my time as your lieutenant governor, water has been one of my top priorities. Some legislators got tired of me pulling them into meetings on the topic, but that persistence led to my Senate Bill 3 in 2007, protecting sites for future water reservoirs across the state, as well as requiring uniform draw-down rates from common aquifers. In the process, I also helped create a series of funding mechanisms to cover key phases of the state water plan.
This year, I worked long hours with Sen. Troy Fraser, Rep. Allan Ritter and the Texas Water Development Board to pass SJR 1, House Bill 4 and HB 1025, which would transfer $2 billion from our state’s savings account to the State Water Implementation Fund (SWIFT) for construction lending on projects enhancing our state’s water resources. The single remaining milestone in this process is voter approval of the resulting resolution, Proposition 6.
In the same way the government has a moral, ethical and legal obligation to protect its citizens, we’re also responsible for certain infrastructure elements, including roads and water. Without adequate water supplies, the public’s health, safety and welfare are jeopardized and our economy is placed at risk. Proposition 6 helps Texas avoid that peril by lending construction financing for water supply projects at affordable interest rates to entities like cities, water districts and river authorities. This fiscally conservative approach to water project development ultimately benefits Texas taxpayers and consumers.
As a result of our state’s robust economic growth and your Legislature’s fiscally conservative practices, our Rainy Day Fund has grown over the past 10 years from just $7 million to more than $11 billion at the end of this biennium. (This is more than the state comptroller needs to maintain our AAA credit rating.) Drawn from this surplus, the $2 billion investment will serve as a revolving fund from which Texas can lend, then be repaid with interest over and over again.
On Tuesday, Texas voters can secure our state’s water future by voting for and approving Proposition 6. This conservative, common-sense investment in what most would consider our state’s most important resource will strengthen our state and help create opportunity as big as Texas for generations to come. I hope you’ll join me at the polls and vote yes on Proposition 6.”
