Stigler Municipal Improvements Authorityreceives$800,000water system funding from OWRB
OKLAHOMA CITY – The Stigler Municipal Improvements Authority (Authority) received approval for $800,000 in funding Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Authority’s water infrastructure. The construction of upgrades and improvements to the water system will be financed by a 100% principal forgiveness loan through the Oklahoma Drinking Water State Revolving Fund (DWSRF).
The Authority will utilize the proceeds for the rehabilitation of a 30,000-gallon water storage tank. These improvements will prevent contaminants from entering the water system.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $1,240,400 compared to traditional financing.
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