McAllen, PUB approve $49.36 million bond using Texas Water Development Board financing
City and McAllen Public Utility approved a $49.355 million bond issuance to continue financing the groundwater brackish desalination project, with advisers saying use of the Texas Water Development Board SWIFT program will lower long‑term interest costs; staff said about $100 million remains to be raised for project completion.
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The McAllen City Commission and the McAllen Public Utility board approved a resolution to issue $49,355,000 in bonds to fund water and wastewater projects tied to the city’s groundwater brackish desalination project. Ann Berger, the city’s financial adviser at the meeting, said the proposed financing uses the Texas Water Development Board SWIFT program and will materially reduce interest costs.
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