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 – The Elgin Public Works Authority (Authority) received approval for a $4,900,000 Financial Assistance Program (FAP) loan on Tuesday from the Oklahoma Water Resources Board (OWRB) to improve their wastewater infrastructure.
The Authority operates a wastewater treatment facility in Comanche County that serves over 1,200 sewer connections. The facility currently uses a lagoon system with slow-rate application of effluent to irrigation fields to treat and manage wastewater. However, the existing system cannot adequately handle peak flows from the city and is projected to reach capacity by 2035. To address this, the proposed project will expand the treatment lagoon, upgrade the influent lift station to accommodate higher flow volumes, expand the North Cell to increase capacity and improve treatment, and construct a disinfection facility and discharge structure to allow for direct discharge, improving both capacity and treatment efficiency.
The estimated cost of the projects is $3,831,000.00. The Authority is also using a portion of the loan proceeds to refinance a bond of approximately $1,000,000 issued in 2024 for water well repairs. The project and refinanced bond will be funded by an FAP loan not to exceed an amount of $4,900,000.00 and to establish a debt service reserve.
According to Lori Johnson, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $1,693,200 compared to traditional financing. The loan shall be secured with a lien on the revenues of the Authority’s water and sewer services, as well as a two-cents sales tax, two-cents use tax, and may include a mortgage on the water and sewer systems.
OKLAHOMA CITY – The Chelsea Economic Development Authority (Authority) received approval for a $1,140,000 Financial Assistance Program (FAP) loan on Tuesday from the Oklahoma Water Resources Board (OWRB) to improve their water and wastewater infrastructure.
The Authority operates a water treatment plant that serves 975 active water connections and 739 sewer connections in Rogers County. Due to aging infrastructure and growing demand, the system is nearing capacity. One of the plant’s two clear wells has been taken out of service due to the declining structural integrity and deteriorating water quality. This limited storage has created vulnerabilities for the Authority during extended power outages or peak usage. To improve reliability and ensure safe, consistent water service, the proposed project will construct a new 88-foot diameter welded steel clear well, along with all necessary components.
The estimated project cost is $1,989,894.50, which will be funded by the OWRB FAP loan of $1,140,000.00, $450,000.00 from a Rogers County American Rescue Plan Act (ARPA) grant, and $441,000.00 in local funds. A portion of the loan proceeds will be used to refinance debt that the Authority received in April of this year in the amount of $772,969.00. These funds will also be used to establish a debt service reserve.
According to Lori Johnson, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $342,900 compared to traditional financing. The loan shall be secured with a lien on the revenues of the Authority’s water, sewer, and sanitation services, as well as a three-cent sales tax, and may include a mortgage on the water and sewer systems.
OKLAHOMA CITY – The Roff Public Works Authority (Authority) received approval for a $1,500,000 loan with 100% principal forgiveness on Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Authority’s wastewater infrastructure. Construction of upgrades and improvements to the wastewater system will be financed by the Oklahoma Clean Water State Revolving Fund (CWSRF).
The Authority operates an aging wastewater collection system that requires critical rehabilitation to improve reliability and reduce system overflows. The system has been impacted by inflow and infiltration, which has led to bypass events and limited capacity at the treatment lagoons. Following a Sanitary Sewer Evaluation Study (SSES), the Authority is moving forward with repairs identified in the study. The proposed project includes the replacement and rehabilitation of more than 5,000 linear feet of sewer line and multiple manholes, along with all necessary supporting components. These improvements will enhance system performance, reduce environmental risk, and support long-term compliance with regulatory requirements.
Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $2,466,900 compared to traditional financing.
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.
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