Henryetta Municipal Authority receives $4,750,000 loan from the OWRB for water system improvements

OKLAHOMA CITY – The Henryetta Municipal Authority (Authority) received approval for a $4,750,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve its water infrastructure.

The Authority owns and operates a public water supply system. The proposed project is to replace the existing water storage tank with a new, larger storage tank in order to meet the requirements and demands of the system in the future.

According to Joe Freeman, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $1,307,900 over the life of the 30-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, and a 2 cent sales tax. Local officials attending the OWRB’s monthly meeting in support of the loan application included David Bullard, City Manager. He stated, “Thank you for the opportunity to be here and for your help in rebuilding our aging infrastructure.”

Since 1983, the Oklahoma Water Resources Board has approved over $7.3 billion in loans and grants for water 1and wastewater infrastructure improvements throughout Oklahoma.

“We are grateful to State Senator Roger Thompson and State Representative Scott Fetgatter 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