A letter from the Texas Water Development Board confirms Corpus Christi taxpayers are on the hook for at least $231 million in principal — plus interest — on the proposed Inner Harbor seawater desalination plant, even if the project is never completed.
The August 8, 2025 letter to Councilwoman Carolyn Vaughn outlines the city’s obligations under the State Water Implementation Fund for Texas (SWIFT) program. TWDB records show $235.225 million in bonds have already been issued for the project, with $231.145 million in principal still outstanding and repayment due by 2054.
The letter says the city must decide by September 5 whether to close on an additional $210.045 million in SWIFT financing this fall. If the city declines before TWDB begins pricing its bonds, penalties could be as high as $11.63 million to cover issuance costs. Missing the September 5 deadline would forfeit the funding commitment entirely…