NEWS
Comptroller moves money from Rainy Day Fund to State Highway Fund
Texas Comptroller Glenn Hegar announced today he recently completed the transfer of more than $2.91 billion into the State Highway Fund (SHF) and the Economic Stabilization Fund (ESF; commonly known as the “Rainy Day Fund”). Each fund received nearly $1.46 billion, or 50 percent of the total transfer.
“The Rainy Day Fund and the State Highway Fund are key components of Texas’ long-term economic success and help provide the foundation needed for our future growth,” Hegar said. “Texas is experiencing a strong economic recovery, and our population continues to boom as more and more people and businesses seek out the jobs and opportunities created here in Texas. It is critical that we continue to invest in the infrastructure needed to maintain our fiscal health and keep our economy growing while at the same time acknowledging the uncertainty that remains and setting aside dollars to ensure we are able to weather future downturns.”
The transfer amounts are based on crude oil and natural gas production tax revenues in excess of 1987 collections. If either tax generates more revenue than the 1987 threshold, an amount equal to 75 percent of the excess is transferred.
In November 2014, voters approved a constitutional amendment allocating at least half of these severance taxes to the ESF, with the remainder going to the SHF for use on non-toll highway construction, maintenance and right-of-way acquisition.
According to the Texas Constitution, the ESF transfer must occur within 90 days after the end of the fiscal year. When fiscal 2021 ended on Aug. 31, the ESF balance was $10.3 billion.
With this most recent transfer, the new balance will be about $11.4 billion, not accounting for currently outstanding spending authority of approximately $1.43 billion. The balance in the ESF will change as agencies spend down this remaining appropriation authority and investment earnings are realized.
City of Bowie officials were on hand to inspect the emergency electrical generators that were delivered last week.
Mayor Gaylynn Burris and City Manager Bert Cunningham inspected one of three emergency electrical generators purchased as part of an ongoing Federal Emergency Management Agency Hazard Mitigation Grant. They also talked with Jay Evans, head of the city electric department, and Jerry Sutton, director of the water treatment plant about the next step for installation of the generators.
This grant provides funding for one 150 kW and two 250 kW generators for use at the water treatment plant.
Read the full story in the mid-week Bowie News.
City Manager Bert Cunningham and Mayor Gaylynn Burris talk with the electric and water department staff about the new generators. (Photo by Cindy Roller)
No action was taken on a legal issue after members of the Bowie City Council met in a called closed session at 4 p.m. on July 12.
City Secretary Sandy Page said the council met for almost one hour for “consultation with attorney – Midwest Waste Services LLC vs. City of Bowie.
This lawsuit goes back to August 2019 when Midwest sued the city for its action requiring those who receive city water outside the city limits to use the designated waste collector, which is Waste Connections. This was shortly after the city signed a new long-term contract with WC.
The suit was dismissed in June 2020 on two points in the suit, but City Manager Bert Cunningham said a third point remained in mediation.
The Department of Public Safety has provided information on an auto vs. motorcycle accident that reportedly occurred on July 4.
James Lee Hilton, Nocona, was driving a 2019 Harley-Davidson motorcycle and Daniel Parra, Chico, was driving a 2018 Ford Fiesta. Both vehicles were north on State Highway 101 outside Sunset with the motorcycle behind the car.
Parra was attempting to turn left on Farm-to-Market Road 2265 when the motorcyclist attempted to unsafely pass to the left states the report. The bike struck the left side of the Fiesta. Both vehicles came to rest off the roadway on the northwest corner of SH 101 and FM 2265.
Hilton was transported to Denton Medical City with
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