The Bethany Public Works Authority receives $10,335,000 loan from the OWRB for water system improvements
OKLAHOMA CITY – The Bethany Public Works Authority (Authority) received approval for a $10,335,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve their water infrastructure.
The Authority owns and operates a water system that is in need of several upgrades. The proposed projects are to install at the Water Treatment Plant (WTP) a Supervisory Control and Data Acquisition System, rehabilitate the 2-million gallon tank and booster pump station, rehabilitate the evelated 500,000 gallon and 1-million gallon tank, install a sump pump at the WTP for low and high lift pump service building, and to install a city-wide automated water meter infrastructure system.
According to Joe Freeman, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $2,910,100 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 systems and a 3-cent sales tax. Local officials attending the OWRB’s monthly meeting in support of the loan application included Elizabeth Gray, City Manager and Steve Manek, Consulting Engineer. Gray stated, “The OWRB has been very supportive in helping Bethany move forward with infrastructure projects that allow us to get water to people who need it.”
Since 1983, the Oklahoma Water Resources Board has approved over $7.1 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma.
“We are grateful to State Legislators from the Bethany area for their continued support of our financial assistance programs,” said Julie Cunningham, Executive Director of the OWRB.
“I’m so proud our government is spending these funds to keep water in Bethany safe for years to come! It’s amazing the great things we can do when we invest our tax dollars in real solutions to Oklahomans’ daily needs.” Senator Julia Kirt.
####
Contact:
Joe Freeman
Oklahoma Water Resources Board
(405) 530-8800
Joe.Freeman@owrb.ok.gov
