With an initiative to build NAWAPA XXI, a massive project that would fundamentally alter our national infrastructure and productive capabilities, the design for such a project would define the needed lending and commitments required of the US Government.
Article 1, Section VIII of the Constitution gives Congress the power to incur debt on the Credit of the United States. With the project design defining the necessary steps for construction and completion of NAWAPA XXI, legislation can be produced that appropriates the required funds to begin the project.
The funds appropriated by Congress are monetized by the Treasury, which has the sole legal authority to print currency. This currency would then be housed and applied by a credit fund or National Bank. Strict conditions and regulations would be administered and enforced by the National Bank to ensure that those funds produce the intended effect and accomplish the project.
A body such as the NAWAPA XXI Authority would receive loans from the credit fund based on the completed estimate of material requirements and projections of necessary construction. In addtion, the capitalization of a NAWAPA XXI Authority could be made by private subscription of investors, who will buy NAWAPA XXI bonds issued by the given authority for a given amount, on the credit of the United States and in accord with certain treaty agreements, and guaranteed by the United States, Canada, and Mexico.