REP. NAPOLITANO COMMENDS STATE WATER BOARD SALE OF $1.2 BILLION IN BONDS FOR CLEAN WATER FUND
Revenue bonds from sale may be used to fund water recycling projects in Southern California.
WASHINGTON, DC – January 8, 2015 – (RealEstateRama) — Rep. Grace F. Napolitano (D-El Monte) commended the State Water Resources Control Board for authorizing the sale of $1.2 billion in revenue bonds for the Clean Water State Revolving Fund.
“We commend Chairwoman Felicia Marcus and her board’s decision, and welcome new funding for water quality and recycling projects, the fastest and most cost effective way to improve water supply in our region,” Napolitano said. “These additional grants and loans will greatly assist water agencies in planning, designing, and building recycling plants and water infrastructure which will directly benefit our entire state. El Niño precipitation may temporarily lift the current historic drought, but we must continue to prioritize water efficiency and recycling projects that will create jobs and prepare our communities for future drought cycles.”
The State Water Board authorized the sale of revenue bonds on Tuesday to meet financing demands for water projects and prepare California for increased demand in the coming years. The Clean Water Fund provides low-interest loans for the construction of publicly-owned wastewater treatment facilities, local sewers, sewer interceptors, water recycling facilities, and storm water treatment facilities.
“Water recycling expands and strengthens our state’s water portfolio and protects our citizens and businesses from future water restrictions,” Napolitano added. “With reduced funding from the federal government these funds will help achieve timely development of water without costly delays and litigation due to other proposed state and federal water projects. This saves our taxpayers money and most importantly, protects their access to a dependable local water supply.”
Napolitano, a long time champion of water recycling projects and a leader on California and national water issues, has introduced H.R. 291, the Water in the 21st Century Act, which would provide $700 million in grants and $500 million in loans for water recycling, groundwater management, stormwater, and water infrastructure projects. She is the Ranking Member of the House Transportation and Infrastructure Subcommittee on Water Resources and Environment and a current member and former Ranking Member of the House Natural Resources Water and Power Subcommittee.
