Water is our most precious resource. As the drought of 2011 so painfully reminded us, our farmers and ranchers cannot survive without sufficient water for their crops and animals.
In 2011, Texas voters approved $6 billion for a revolving fund to loan money to local government entities for water infrastructure, without being subject to constitutional debt limitations. But no bonds have been issued under that program.
Now, just two years later, the legislature is asking voters to approve Proposition 6, to take $2 billion from the state’s emergency fund, known as the Rainy Day Fund, to help underwrite such loans.