TheDuncan Public Utilities Authorityreceives$13,305,000for****water system and dam improvementfrom OWRB
OKLAHOMA CITY – The Duncan Public Utilities Authority (Authority) received approval for a $13,305,000 in loan funding Tuesday from the Oklahoma Water Resources Board (OWRB). The first request for $9,200,000 was financed by the Financial Assistance Program (FAP) with a second request totaling $4,105,000 funded through the Clean Water State Revolving Fund (CWSRF).
The Authority will utilize the FAP proceeds to replace a two-million-gallon standpipe with a one-million-gallon composite elevated tank. Additionally, the Authority owns and maintains the Clear Creek Lake dam where the downstream slope is in poor condition. To correct the problem, CWSRF funds will be used to re-grade the downstream slope after placing a blanket drain to control seepage and mitigate piping concerns. The embankment rehabilitation will reduce the likelihood of future dam failures and help protect the downstream water quality.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save a combined estimation of $5,061,100 over the life of the two loans compared to traditional financing. The loans will be secured with a lien on the revenues of the Authority’s water, sewer, sanitation, and electric systems along with a one cent sales tax. The Authority’s engineer, Colin Young, and Jennifer Wasinger from Freese and Nichols attended the OWRB’s monthly meeting in support of the loan application. Ms. Wasinger stated, “Duncan appreciates the opportunity to work with the Board on these important projects for the city as they work hard to upgrade the entire water system.”
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