Businesses and North Texas area chambers of commerce including Grapevine's are on the list of supporters of Proposition 6, which would allow the state to use $2 billion from the state's Rainy Day Fund to help with water projects statewide.

The measure on the Nov. 5 ballot essentially would create a bank for water projects. Communities could borrow money for projects at lower interest rates, for longer terms or receive deferred repayment periods, according to the Texas Water Development Board's website.

Supporters point to the extended drought and projections for water needs in the future.

Legislative opponents to the proposition, according to the Texas Legislative Council's analysis, argued that drawing down money from the Rainy Day Fund might negatively affect the state's credit rating.

In Region C, which covers 16 counties including Tarrant, Denton, Collin and Dallas, the population is expected to nearly double by 2060, but the water supply is expected to decline by 3 percent because of sedimentation.

The 2012 state water plan recommends building four new reservoirs to keep up with rapid growth.

The cost outlined in the state plan for the reservoirs plus other water management strategies: $21.5 billion.

The proposition sets up two funds—the State Water Implementation Fund for Texas or SWIFT, and the State Water Implementation Revenue Fund for Texas or SWIRFT.

The money would not be available until March 2015.

Opponents, according to the legislative analysis, also argued that the two new funds are not needed because two constitutionally dedicated water development funds already exist.

More information about Proposition 6, including a FAQ, is at www.twdb.state.tx.us. The legislative council analysis is at www.tlc.state.tx.us. For election information, visit tcweb.tarrantcounty.com.