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Voters okay $2 billion in reserve funds for future water projects

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AUSTIN, TX (AP) - Texas voters have backed a plan that would use $2 billion in reserve funds to help the state meet the future water needs of its booming population and economy.
    
Tuesday's ballot measure was widely expected to pass. It had the backing of environmental groups and most of the state's top elected officials, including Republican Gov. Rick Perry.
    
The measure amends the state constitution to move $2 billion from Texas' rainy day fund to its water infrastructure fund. The money would help defray the borrowing costs on large-scale water infrastructure projects, including creating reservoirs, laying new pipelines and replacing older ones.
    
The state estimates it will need $53 billion to implement a plan that would meet its water needs for the next 50 years.

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