DENISON, Texas (KXII) - The Denison City Council approved a nearly $23 million bond Thursday night to fund infrastructure for the master-planned Preston Harbor development near Lake Texoma.

The bond will cover the cost of streets, sewer lines and water lines for the first two phases of the project.

Mayor Robert Crawley said the cost of that infrastructure made borrowing a necessity."It's so expensive to put in streets and water and sewer that there are very few people that have that type of capital available," Crawley said.