Bond Programs
Joe Freeman,
Chief, Financial Assistance Division
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 – The Wagoner County Rural Water District No. 2 (District) received approval for a $99,999 Rural Economic Action Plan (REAP) grant Tuesday through the Oklahoma Water Resources Board (OWRB) to improve the District’s water infrastructure.
The District's water treatment plant (WTP) is currently struggling with insufficient capacity and ongoing maintenance needs. Additionally, the distribution system requires upgrades and replacements to address pressure and water loss challenges. The proposed project aims to implement significant water system improvements to enhance overall efficiency and reliability.
Joe Freeman, Chief of the OWRB's Financial Assistance Division, calculated that the grant will save the Authority’s customers $231,900 in principal and interest charges by not having to borrow the project funds.
OKLAHOMA CITY – The Town of Oologah (Town) in Rogers County received approval for a $99,275 Rural Economic Action Plan (REAP) grant Tuesday through the Oklahoma Water Resources Board (OWRB) to improve the Town’s wastewater infrastructure.
The Town's aging wastewater treatment facility is no longer sufficient to meet the community's needs due to its outdated infrastructure and high annual maintenance costs. The proposed project will address these issues by replacing critical components of the treatment plant, including the addition of an automated bar screen to prevent discharge limit violations. This upgrade will also replace plant elements that have reached the end of their economic life, ensuring improved efficiency and reliability.
Joe Freeman, Chief of the OWRB's Financial Assistance Division, calculated that the grant will save the Authority’s customers $231,900 in principal and interest charges by not having to borrow the project funds.
OKLAHOMA CITY –The Caddo Public Works Authority (Authority) in Bryan County received approval for a $99,000 Rural Economic Action Plan (REAP) grant Tuesday through the Oklahoma Water Resources Board (OWRB) to improve the Authority’s water infrastructure.
The Authority's utility meters are aging and have been in use for over a decade. This project aims to replace the aging equipment with automatic meter reading (AMR) meters. Updating the meters will enable early detection of leaks on the customer side, thereby reducing the potential for leak-related contamination. The new automated meters and associated repairs will also enhance the Authority’s security and accuracy, better serving the community.
Joe Freeman, Chief of the OWRB's Financial Assistance Division, calculated that the grant will save the Authority’s customers $231,900 in principal and interest charges by not having to borrow the project funds.
Agency's Executive Director
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.