Press Release

OKLAHOMA CITY – The Broken Arrow Municipal Authority (Authority) received approval for a $6,280,000 Financial Assistance Program (FAP) loan on Tuesday from the Oklahoma Water Resources Board (OWRB) to refinance recent improvements to their water and wastewater infrastructure. 

The Authority, located in Tulsa County, operates water and wastewater systems that serve the City of Broken Arrow. The community will use these funds to refinance a Financial Assistance Program (FAP) loan originally approved in 2015, which supported several key infrastructure improvements throughout the city. The completed projects, finished in April 2021, enhanced the capacity, reliability, and efficiency of the city’s water and wastewater systems. This refinancing will help the Authority strengthen its long-term financial position, ensuring continued investment in essential water infrastructure. 

According to Lori Johnson, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $64,800 compared to traditional financing. The loan shall be secured with a senior lien on the revenues of the Authority’s water, sewer, and sanitation services, and a one cent sales tax.