Lawton Water Authority receives $50,000,000 loan for water funding from OWRB

OKLAHOMA CITY – Lawton Water Authority (Authority) received approval for a $50,000,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve its water infrastructure. 

The Authority is implementing a drought resiliency plan to provide an alternative source of water. This project is for drilling test wells, at least four (4) groundwater wells, construction of a conveyance system, and water treatment plant upgrades.

According to Joe Freeman, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $3,557,400 over the life of the 20-year loan compared to traditional financing.  The loan shall be secured with a lien on the revenues of the Authority’s water, sewer, and sanitation systems. 

The local official attending the OWRB’s monthly meeting in support of the loan application was Lawton’s Director of Field Utilities, Rusty Whisenhunt. Mr. Whisenhunt shared, “This project is for a resiliency plan which Lawton has been working toward for quite a while. Thank you for the opportunity to come before the Board for this funding.”

Since 1983, the Oklahoma Water Resources Board has approved over $6.4 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma.

“We are grateful to Representative Trey Caldwell, Representative Daniel Pae, Representative Rande Worthen and Senator John Montgomery from the Lawton area for their support of our financial assistance programs,” said Julie Cunningham, Executive Director of the OWRB.

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Contact:
Joe Freeman 
Oklahoma Water Resources Board
(405)530-8800
Joe.Freeman@owrb.ok.gov