A proposed constitutional amendment going before the state's voters in November has the potential to arm the Texas Water Development Board with $2 billion to fight the drought that has parched much of the state since 2010.

Gov. Rick Perry signed House Bill 4 into law on May 28. If voters approve the amendment in November, the decision could have a ripple effect that lasts for the next 50 years.

The state's proposed water plan calls for a $7.6 billion investment in water infrastructure in Regional L, which includes San Antonio, San Marcos and New Braunfels, between now and 2060. Region K, which includes Buda and Kyle, needs a $907 million investment, according to the plan.

Buda City Manager Kenneth Williams said he was pleased the Legislature decided to take action on the "extremely underfunded" water projects around the state.

"We all have these major water issues, but there was no funding to help to cure any of them, so I think it's a positive thing for the Hays Caldwell Public Utility Agency, the cities and the state," Williams said.

The HCPUA, which formed in 2007 to help identify and address long-term water needs in San Marcos, Buda and Kyle, is working on a plan that would put a pipeline between Caldwell County and Hays County to provide water to San Marcos, Kyle and Buda. City officials are hopeful the pipeline would quench the region's water needs for the next two or three decades.

That project may be eligible to receive money from the $2 billion fund, Williams said.

Cities and agencies will be able to borrow money from the fund to finance water projects in their service areas. The interest paid back on those loans will help grow the fund.

"It becomes a perpetuating fund," Williams said. "It provides funding for additional projects in other communities around the state."

Before the fund can be established, voters must approve Senate Joint Resolution 1, which will be on the November ballot.

June 17: Buda mayor praises new black hydrant law

June 19: Texas universities seek construction funds

June 21: Proposed amendment would quench state's water needs

June 24: SB 1621 would allow the City of Kyle to compete with Monarch Utilities within the utility's service area.