OKLAHOMA CITY – Rogers County Rural Water District No. 3 (District) received approval for a $20,000,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve their water infrastructure.
The District will use the proceeds to construct two new elevated composite storage tanks; one in the Tacora area and one in the Keetonville area. The project will include approximately 1,200 linear feet (LF) of 18” PVC water line in the Tacora area, electrical, telemetry and controls for both tanks, and a total of approximately 2,400 LF of 8’ chain link fence for both tank areas.
According to Joe Freeman, chief of the OWRB’s Financial Assistance Division, the District’s customers will save an estimated $5,484,600 over the life of the 30-year loan compared to traditional financing. The loan shall be secured with a senior parity lien on the revenues of the District’s water system. The local official who attended the OWRB’s monthly meeting in support of the loan application was District Manager, Rick Stull. Mr. Stull stated, “On behalf of the Northeastern part of Oklahoma and Rogers No. 3, the Board’s consideration of this loan is appreciated.”