Bond Programs
Lori Johnson, Chief, Financial Assistance Division
Oklahoma Water Resources Board
Oklahoma Water Resources Board
Add this issuer to your watchlist to get alerts about important updates.
OKLAHOMA CITY – The Tishomingo Municipal 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 owns and operates a wastewater system that includes a treatment plant currently facing significant challenges due to aging infrastructure and mechanical systems that have exceeded their useful life. To resolve these issues and accommodate future growth, the Authority will construct a new 0.55 million-gallon-per-day advanced wastewater treatment facility at the existing site. The new plant will be designed to enhance treatment efficiency and improve the discharge to Pennington Creek, an Oklahoma Scenic River and a vital water source for the City of Tishomingo. The improvements will support long-term reliability and ensure regulatory compliance.
The project will be funded from sources including the $1.5 million in Clean Water State Revolving Fund (CWSRF) principal forgiveness, $4.1 million from the OWRB American Rescue Plan Act (ARPA) Grant, $4.1 million from the Chickasaw Nation ARPA grant, and $4.1 million from Indian Health Services (IHS).
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.