The Canute Public Works Authority Receives $999,999 Water System Loan with Principal Forgiveness from the OWRB
View allThe Canute Public Works Authority Receives $999,999 Water System Loan with Principal Forgiveness from the OWRB
OKLAHOMA CITY – The Canute Public Works Authority (Authority) received approval for a $999,999 loan with 100% principal forgiveness on Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Authority’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 Authority operates a public water distribution system and is undertaking improvements to replace aging infrastructure and strengthen system reliability. The project will replace approximately 2,750 feet of outdated water line with new, modern piping designed to improve service and reduce the risk of leaks and breaks. Replacing these aging lines will help maintain consistent water pressure, improve system performance, and reduce long-term maintenance costs. These improvements will support reliable delivery of safe drinking water and enhance service for residents and businesses throughout the community.
Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $1,581,300 when compared to traditional financing.