Clean Water State Revolving Fund (1987)
Congress created a state-managed loan fund for wastewater infrastructure, later extended to drinking water. States match federal dollars and lend to municipalities at low interest.
Billions in low-interest loans flowed to cities.
The revolving fund became the main federal channel for local water infrastructure investment.
The Texas Water Development Board, which helps finance Dallas's contracts, administers the state's version of this federal program.
