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Crockett council authorizes application for up to $6 million in SIB funds to rebuild streets and replace water lines
Summary
The Crockett City Council voted to authorize submission of an application to the Texas State Infrastructure Bank for up to $6,000,000 to reconstruct a set of city streets and replace underlying water lines; a financial advisor said the city can lock a subsidized rate that yields an effective rate 'about 0.13,' or 'almost 0 interest.'
The Crockett City Council voted at its meeting to authorize the mayor and city administrator to submit an application to the Texas State Infrastructure Bank (SIB) for up to $6,000,000 to reconstruct multiple streets and replace water and storm infrastructure.
City staff said the request covers a set of arterial and collector streets discussed in prior meetings — including full reconstruction, chemical stabilization of road bases,…
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