Georgetown secures $46M in state bonds for regional water initiative

Georgetown City Council members approved the use of $46 million in Texas Water Development Board bonds to receive and transmit new supplies of water at an Oct. 13 City Council meeting.

About the program

The Georgetown Regional Water Initiative includes projects to procure water and deliver it to Georgetown, including a new water transmission line. This line will send water from Circleville in eastern Williamson County to northern Georgetown, strengthening water security and meeting growing demand, according to city documents.

Explained

Georgetown officials applied for financing for the Georgetown Regional Water Initiative through TWDB's State Water Implementation Fund for Texas (SWIFT) program earlier in the year.

The TWDB SWIFT program offers low-cost financing, and the city will use recently approved utility rates to pay back the bonds.

The funds come from two separate bond series:

• Series 2026B: $29 million low-interest loan with an interest rate of 4.29%

By financing through TWDB, Georgetown will save about $3.44 million in total interest payments, according to city documents.

• Series 2026C: $17 million in a deferred payment structure with an interest rate of 3.75%

Interest payments on this bond are deferred until 2031, which allows utility rates to increase gradually over time instead of all at once, city documents state.