Blackwell Municipal Authority Receives $18,840,000 Loan for Water System Improvements from the OWRB
View allBlackwell Municipal Authority Receives $18,840,000 Loan for Water System Improvements from the OWRB
OKLAHOMA CITY – Blackwell Municipal Authority (Authority) received approval for an $18,840,000 Financial Assistance Program (FAP) loan on Tuesday from the Oklahoma Water Resources Board (OWRB) to improve their water infrastructure.
The Authority will rehabilitate and upgrade their water system’s filtration system, including the residuals handling facilities, yard piping and plant hydraulics, electrical and control systems and pumping and process systems, as well as the selective demolition of obsolete facilities, plus all appurtenances and services necessary to complete the project. The rehabilitation will improve treatment process control, increase system redundancy, enhance maintainability and improve the overall reliability and resiliency of the water treatment plant.
According to Lori Johnson, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $2,448,000 when compared to traditional financing. The loan shall be secured with a lien on the revenues of the Authority’s water, sewer and sanitation services, a mortgage on the water, sewer, and electric systems, and a 1.5 cents sales tax.