13-041 RESOLUTION NO. 13 -041
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SOUTHLAKE, TEXAS, SUPPORTING CONSTITUTIONAL
AMENDMENT PROPOSITION 6, PROVIDING FOR THE
CREATION OF THE STATE WATER IMPLEMENTATION
REVENUE FUND FOR TEXAS TO SUPPORT LONG -
RANGE WATER SUPPLY AND CONVERSATION
PROJECTS STATEWIDE AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, North Texas's population will grow by 82 percent by 2060, bringing
tremendous economic opportunity to the North Texas region in the form of vibrant
commerce, innovative industry, and a diverse workforce; and
WHEREAS, the Texas Water Development Board projects that by 2060 the
state's currently existing water supply with shrink by 10 percent while water demand will
grow by 22 percent; and
WHEREAS, over 87 percent of Texas is currently in drought and the state's
reservoirs are only 60 percent full; and
WHEREAS, unless Texas fully implements its State Water Plan by 2060, half of
the state will lack an adequate supply of water during times of drought; and
WHEREAS, from manufacturing to agriculture, all sectors of Texas's economy
depend on water to keep functioning; and
WHEREAS, should Texas befall another catastrophic drought comparable to that
of 2011, the state could face up to $116 billion in economic damage and lose 1.1 million
jobs; and
WHEREAS, the proposed constitutional amendment is the keystone to a
comprehensive and historic package of water - related legislation passed by the 83rd
Texas Legislature that will provide for our state's water needs in a sustainable and
fiscally responsible manner; and
WHEREAS, the proposed constitutional amendment will provide for the creation
of the State Water Implementation Fund for Texas, a water infrastructure development
bank that will make loans to local water authorities to finance water supply and
conservation projects identified in the State Water Plan; and
WHEREAS, upon repayment, loans issued through the proposed water
infrastructure development bank will revolve back into the fund on an "evergreen" basis
to support more projects; and
WHEREAS, the proposed constitutional amendment allows for an initial $2 billion
capitalization of the water infrastructure development bank drawn from the state's
Economic Stabilization Fund; and
WHEREAS, without the successful passage of this constitutional amendment,
the aforementioned package of water legislation will be rendered void, placing the state
in serious risk of economic hardship due to insufficient water resources.
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SOUTHLAKE, TEXAS, THAT:
Section 1. The City Council supports the passage of Proposition 6 that will ensure
the state is able to develop an adequate water supply in a fiscally
responsible manner that will provide water for generations to come.
Section 2. This resolution is hereby effective upon passage and approval by the City
Council.
PASSED AND APPROVED THIS THE 15 DAY OF October 2013.
CITY OF SOUTHLAKE, TEXAS
John C. Terrell
Mayor
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