The Seiling Public Works Authority receives $2,650,000 loan from the OWRB for water and wastewater system improvements

OKLAHOMA CITY – The Seiling Public Works Authority (Authority) received approval for a $2,650,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve its water and wastewater infrastructure.

The Authority will use the proceeds for expansion of their water and sewer system into a newly developed area. Funds will also be used for the refinancing of a 2013 FAP loan which was for extending water and sewer service to a commercial area, and water service to the north side of town.

According to Joe Freeman, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $421,400 over the life of the 18-year loan compared to traditional financing. The loan shall be secured with a lien on the revenues of the Authority’s water, sewer, sanitation, and gas systems, a two-cent sales tax, and a mortgage. Seiling’s City Manager, Skylar Sander, stated, “Seiling appreciates the Board’s consideration of this loan.”   

Since 1983, the Oklahoma Water Resources Board has approved over $6.9 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma.

“We are grateful to State Senator Casey Murdock and Representative Mike Dobrinski 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