Texas Water Development Board Approves Loan

At the Texas Water Development Board December board meeting, Panhandle Groundwater Conservation District was approved for financial assistance in the amount of $1,000,000 to purchase approved agricultural water conservation equipment. The funds are made available through TWDB’s Agricultural Water Conservation Loan Program.

    

This program allows TWDB to make loans to lender districts, such as PGCD. These lender districts can then make loans to individual local producers to purchase and install efficient irrigation equipment on private property.

    

The District will utilize these funds to make loans to individual borrowers for purchase of center pivot irrigation systems. The loans have an eight year term and an interest rate of 1.3%.

    

“These loans provide a great opportunity for local producers to install efficient equipment,” said PGCD General Manager C. E. Williams.

    

The District’s Ag loan program has been extremely successful since it began in 1992. To date, PGCD has made 126 loans totaling $6,208,720.

     For more information or to receive a loan application, come by the office at 201 W. Third Street, White Deer, Texas, or call (806) 883-2501.