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 Clarita-Olney Rural Water District, Coal County (District) received approval for a $350,000 loan with 100% principal forgiveness on Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the District’s water infrastructure. Construction of upgrades and improvements to the water system will be financed by the Oklahoma Drinking Water State Revolving Fund (DWSRF).
The District operates a water system that serves the community in Coal County. Currently, the system relies on outdated manual-read meters and lacks the technology to quickly detect issues such as pipe or pump failures, which can result in significant water loss and low tank levels. This project will replace antiquated meters and upgrade the system with modern monitoring technology, including automated controls and remote telemetry, to track pump operations and standpipe water levels in real time. These improvements will strengthen system efficiency, reduce water loss, and ensure the District can continue providing adequate pressure and dependable service to its residents.
Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the District’s customers will save an estimated $524,700 compared to traditional financing.