OKLAHOMA CITY – Pittsburg County Rural Water and Sewer District No. 20 (District) received approval for a $3,300,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB).
The District serves the town of Carlton Landing and will utilize the proceeds to refinance a bank note which was previously used for wastewater treatment facility construction. The facility has a design capacity of 80,000 gallons per day and is comprised of three (3) lagoons, primary and secondary clarifiers, two (2) aeration tanks, two (2) aerobic digestors, and chlorination/dechlorination.
According to Joe Freeman, chi of the OWRB’s Financial Assistance Division, the District’s customers will save an estimated $365,700 over the life of the 21-year loan compared to traditional financing. The loan shall be secured with a senior lien on the revenues of the District’s water and sewer systems and a mortgage. Local officials attending the OWRB’s monthly meeting in support of the loan application included District Chairman, Caleb Conner, District Board Member, Daryl Nieto, and District Administrator, Greg Buckley. Mr. Buckley stated, “This funding is a great benefit to a small service area. We sincerely thank you for consideration.”