A bill that would allow local governments to partner with private companies for water projects sailed through the Senate on Wednesday 49-1.
The bill, sponsored by Senate Natural Resources Committee Chairman Ross Tolleson, R-Perry, would give local governments the authority to negotiate long-term contracts with companies to build large projects such as reservoirs and water treatment plants. Companies would reap their profits by collecting payments from water ratepayers over the term of the contracts, which could be up to 50 years.
Tolleson said the bill would give counties and cities another financing option for the hugely expensive projects as the state grapples with future water demand.
"In the next 25 to 30 years, there is going to be a monumental amount of money spent in this state on water and water resources," he said.
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