The Texas Water Development Board (TWDB) met on May 15 and took up the agenda item relating to guidance to the Texas Treasury Safekeeping Trust regarding the SWIFT fund utilization to assist the trust in implementing investment strategies.  It is currently expected that in the first year the TWDB will issue approximately $800 million in loans resulting in a draw-down of the $125-145 million of the corpus. However, in the next few months as regional water planning groups finalize their plan, the actual amount of need will become clearer. As a result, the TWDB will continue these discussions and anticipate getting a better estimate on the need in September. Until then the Trust will continue to invest the corpus of the funds with the goal of increasing the rate of return and maintaining/increasing the fund rating. 

The SWIFT Advisory Joint Committee will hold their organizational meeting and hear invited testimony on June 2. 

The next TWDB work session will be on May 29.