The Duncan Public Utilities Authority (Authority) received approval on Tuesday for a loan of $ 8,200,000 from the Oklahoma Water Resources Board (OWRB) to improve the Authority’s wastewater infrastructure.
The Authority will use the proceeds for the replacement and reclamation of a manhole, new sewer lines and for upgrading the wastewater treatment plant. These improvements are intended, according to the Town of Duncan, to reduce unplanned flows to the wastewater treatment plant and sanitary sewer overflows. Improvements to the wastewater treatment plant will help meet the limits of the discharge permits at the plant.
Joe Freeman, head of the OWRB’s financial aid division, calculated that the Board’s clients will save approximately $ 2,324,400 over the 30-year loan term compared to traditional financing.
The CWSRF loan will be secured by a lien on the revenue from the Authority’s water, sewer, sanitation and electrical systems as well as a one-cent sales tax.
An Authority representative said, âOn behalf of the citizens of Duncan, we would like to express our gratitude to the Oklahoma Water Resources Board. The Commission’s loan programs have helped manage the costs of upgrading the City’s water and wastewater infrastructure. We especially want to thank the staff of the OWRB for their hard work and assistance.
Construction of the sanitation system upgrades and improvements will be funded by the Oklahoma State Drinking Water Revolving Fund (CWSRF).
The CWSRF program is administered by the Oklahoma Water Resources Board with partial funding from the United States Environmental Protection Agency (EPA). The CWSRF program has provided approximately $ 2 billion in water quality loans to provide communities with the resources needed to maintain and improve the infrastructure that protects our precious water resources statewide.
Since 1983, the Oklahoma Water Resources Board has approved more than $ 5.3 billion in loans and grants to improve water and wastewater infrastructure throughout Oklahoma.
âWe are grateful to State Senator Jessica Garvin and Rer. Marcus McEntire for their support of our financial aid programs, âsaid Julie Cunningham, Executive Director of the OWRB.