Payne County Rural Water District No. 3 Receives $800,000 Water System Loan with Principal Forgiveness from the OWRB
View allPayne County Rural Water District No. 3 Receives $800,000 Water System Loan with Principal Forgiveness from the OWRB
OKLAHOMA CITY – The Payne County Rural Water District No. 3 (District) received approval for an $800,000 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 public water distribution system. To improve system efficiency and reduce water loss, the District will replace 1,875 aging manual-read water meters with new meters equipped with Automated Metering Infrastructure (AMI) technology, which allows water usage data to be collected remotely and more accurately. The upgraded system will enhance leak detection capabilities, improve water-use monitoring, and reduce operational costs associated with manual meter reading. These improvements will help ensure a more efficient and dependable water supply for residents and businesses throughout the service area.
Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the District’s customers will save an estimated $1,259,000 when compared to traditional financing.