And any power at the state level is likely not being exerted. I know Texas politicians like to talk about lowering property taxes, here’s an area of property tax that needs some reform that is likely being ignored.
Now it’s impacting credit ratings
https://www.mysanantonio.com/news/south-texas/article/corpus-christi-credit-rating-22242357.php
State of Texas: we have money available to help - why don’t you get it together and ask?
State of Texas: thanks for asking, but no - we don’t have money now
Sounds like Corpus’s leadership could screw up a 2 car funeral
Because the state “ran out of money” for the designated loan program?
There’s no doubt that Corpus has botched the water sourcing, but the state crawfishing on them after making a huge show of how they had resources just waiting to be tapped isn’t a local problem - it’s an Austin politics problem.
There are a lot of water projects in the state. Obviously, Corpus screwed the pooch and missed out.
I get it, but I also know that the state is far from being “out of money.” They’re playing revenge politics so they can later justify another state power grab/takeover. Big government is all the rage.
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This is why Corpus screwed the pooch
Program criteria prioritize smaller, disadvantaged communities that may struggle to secure other funding, along with larger entities that are ready to begin construction quickly. For smaller systems, eligible phases include planning, acquisition, design and construction. Larger entities must have already completed those phases and be ready to proceed to construction.
https://www.texastribune.org/2026/05/08/texas-swift-water-development-board-falls-short/
As Texas struggles to meet the needs of a rapidly growing population, a state fund had $1.28 billion available this year to support projects that could deliver water even in a severe drought.
Unfortunately, 23 worthy projects requested a total of $4.2 billion, prompting the state to deny 13 of them — the first time the SWIFT fund had to say no to an applicant in its 11-year history.
@coachv hard to say who is at fault here. I think the state has some responsibility
since they underfunded the water projects and have largely ignored the problem
for too many years. But we got $1 billion for school vouchers.
Under the scoring system used to set priorities for SWIFT, the river authority’s plant ranked 11th. The top 10 proposals will next submit more-detailed applications for the money.
“We really thought our project would rate higher,” Byrum said. “We were disappointed.”
Corpus Christi?
As of May 2026, Corpus Christi is facing significant financial pressure, with S&P Global Ratings downgrading the city’s utility system credit rating to ‘A’ from ‘AA-’ due to a water crisis and anticipated debt for infrastructure projects. The city, which had over $1.7 billion in total outstanding debt as of September 2024, faces rising costs for water projects and potential revenue impacts from droughts.
I’m originally from the RGV
Left when 19 yo to finish college and enbark on a career…only went back on occasion to visit family
Used to think Corpus would be a good place to retire…no more
For context reference …
As of FY 2024, the City of Dallas had a total outstanding debt of $8.2 billion, which includes $5.6 billion in principal and $2.6 billion in interest
As of fiscal year 2024, the City of Houston’s total outstanding debt was approximately $20.9 billion, which includes $14.3 billion in principal and $6.6 billion in interest
As of fiscal year 2024, the City of San Antonio’s total outstanding debt—including principal and interest—was approximately $21.2 billion. This total reflects a rising trend in debt from previous years, with an outstanding principal of $13.3 billion and $8 billion in interest owed
As of early 2026, the City of Austin has a significant amount of outstanding debt, with figures generally exceeding $7.6 billion in principal. A 2025 analysis indicated total debt obligations, including interest, have previously reached over $11 billion
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Yes you clearly illustrated cities that can’t manage their budget. Thank you for posting. Public agencies are great, sublime at spending money they do not have and want us to pay for it.
Outstanding post.
Question for you, do you know of any large metropolitan area that doesn’t carry debt ? All Texas ones I’ve checked are in the billions.
For more context…
As of August 31, 2025, the University of Houston System had approximately $1.9 billion in outstanding debt. This total consists mainly of $1.8 billion in revenue bonds, alongside $21 million in commercial paper, with a portion of the debt supported by state capital construction assistance projects. [1, 2]
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Again, you make my point. Most public entities can’t balance their books except for a few. The City of Carlsbad, CA is in the black and has very minimal debts.
Why? Because they balance their books including debts reasonably.
It is called to fiscally responsive.
Keep it up, excellent posts.
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Good for Carlsbad. I see they have about 1 billion in debt for a “city”
of 120,000. Is that right ?
Key Debt and Financial Information (Fiscal Year 2025-26):
- General Fund Reserves: The city projected a 61% reserve level, totaling approximately $147 million.
- Pension Debt: The city has actively managed its pension liabilities, with a policy aimed at keeping them 80% funded.
- Desalination Plant Debt: As of December 2025, the Channelside Water Resources LP (formerly Poseidon) plant in Carlsbad had significant outstanding, state-issued debt, including:
Glad you find it. Carlsbad put on the line the biggest desal plant in California, thus an investment that is producing…water. Remember California is a desert.
At least they have a plan.
But again you keep missing the point. Cities being $B’s in debt…with no new desal plant but mismanaging some basic services is an indictment of these public entities. They raise taxes and we all know what is coming next.
I think you’re missing the point. All the large metro areas in Texas
have significant outstanding debt. When you get to the smallish size cities,
there is less debt. But that’s not where the people live and what the people want.
That’s not to say there is not some mismanagement or potential misuse of
revenue; the Harris county toll roads are in need of more transparency. But you can’t just look at one number and make a conclusion it is all
the city of Corpus Christi fault. Lots of factors in play.
Don’t be scared of debt ( words of T Fertitta); but it needs to be managed appropriately as well.
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I did not miss the point at all. While debts can be explained it makes no sense at all for public agencies to spend money that they do not have/put themselves in debt.