Bond Programs
Lori Johnson, Chief, Financial Assistance Division
Oklahoma Water Resources Board
Oklahoma Water Resources Board
Learn about Oklahoma Water Resources Board including our News & Press Releases, Projects, and Team.
Have questions? Reach out to us directly.
Learn about Oklahoma Water Resources Board including our News & Press Releases, Projects, and Team.
The OWRB's mission is to protect and enhance the quality of life for Oklahomans by managing and improving the state’s water resources to ensure clean and reliable water supplies, a strong economy, and a safe and healthy environment.
Our primary duties and responsibilities include water use appropriation and permitting, water quality monitoring and standards, financial assistance for water/wastewater systems, dam safety, floodplain management, water supply planning, technical studies and research, and water resource mapping.
OKLAHOMA CITY – Town of Foss (Town) in Washita County received approval for a $149,909 Rural Economic Action Plan (REAP) grant on Tuesday through the Oklahoma Water Resources Board (OWRB) to improve the Town’s water infrastructure.
The Town operates a water supply system that relies on two existing wells. During dry seasons, these wells are unable to meet the community’s full water demand. To ensure a reliable and consistent water supply year-round, the proposed project will drill a third well, along with the necessary components to bring it online. This improvement will help safeguard the town’s water access during periods of drought. The estimated cost of the
project is $149,909.28 which will be funded by the OWRB REAP Grant of $149,909.28.
Lori Johnson, chief of the OWRB's Financial Assistance Division, calculated that the grant will save the Authority’s customers $256,900 in principal and interest charges by not having to borrow the project funds.
OKLAHOMA CITY – The Thomas Public Works Authority (Authority) in Custer County received approval for a $102,095 Rural Economic Action Plan (REAP) grant on Tuesday through the Oklahoma Water Resources Board (OWRB) to improve the Authority’s water infrastructure.
The Authority operates a water distribution system that is currently facing critical issues due to aging waterlines that have exceeded their expected lifespan. These deteriorated lines pose a risk to service reliability and water quality for the community. To address the problem, the proposed project will replace approximately 725 linear feet of 2-inch waterline, along with all necessary components to complete the upgrade. This improvement will help ensure safe, consistent water service for residents. The estimated cost of the project is $102,375.00 which will be funded by the OWRB REAP grant in the amount of $102,095.00 and $280.00 from local funds.
Lori Johnson, chief of the OWRB's Financial Assistance Division, calculated that the grant will save the Authority’s customers $197,300 in principal and interest charges by not having to borrow the project funds.
OKLAHOMA CITY – The Rural Water, Sewer and Solid Waste Management District No. 3, Dewey County, Oklahoma (District) in Dewey County received approval for a $110,000 Rural Economic Action Plan (REAP) grant on Tuesday through the Oklahoma Water Resources Board (OWRB) to improve the District’s water infrastructure.
The District operates a water system that is currently under strain due to aging wells and the recent loss of its emergency backup well, which was taken out of service after it began pumping sand. To restore capacity and improve system reliability, the proposed project includes drilling a new production well, constructing a well house with a dedicated chlorination room, installing 500 linear feet of waterline, and adding a 50kW generator to ensure continued operation during power outages. This investment will help secure a dependable and safe water supply for the community. The estimated cost of the project is $231,641.50 which will be funded by the OWRB REAP grant in the amount of $110,000.00 and $121,641.50 from local funds.
Lori Johnson, chief of the OWRB's Financial Assistance Division, calculated that the grant will save the Authority’s customers $197,300 in principal and interest charges by not having to borrow the project funds.
The Oklahoma Water Resources Board's (OWRB) Financial Assistance Division assists communities in their efforts to protect and conserve Oklahoma's water resources for current and future generations through cost-effective financial products, technical assistance, and high quality customer service. To find more information, please visit here.
Loan Programs:
The CWSRF loan program is funded by EPA capitalization grants, state matching funds, and bonds. The CWSRF is administered by the OWRB. The interest rate is approximately 60% of AAA market rate with 40% savings through federal subsidy.
The DWSRF loan program is funded by EPA capitalization grants, state matching funds, loan repayments, investment earnings, and bonds. The DWSRF is co-administered by the OWRB and the Oklahoma Department of Environmental Quality (ODEQ). The interest rate is approximately 70% of AAA market rate with 30% savings through federal subsidy.
The OWRB's state loan revenue bond program offers long term, variable interest rate funding with a fixed rate conversion option. This low interest rate is based on the OWRB's AAA credit rating.
Grant Programs:
The Emergency Grant Program is a point-based program designed to assist communities facing crises which threaten life, health, or property.
The REAP Grant Program is a point-based program designed to assist smaller communities that lack sufficient fiscal capacity. Cities, towns, and municipalities with a population less than 1,750 are given priority. Rural water and/or sewer districts with less than 525 non-pasture customers are also given priority.
Have questions? Reach out to us directly.