The Guymon Utilities Authority receives $10,000,000 loan from the OWRB for water system improvements
OKLAHOMA CITY – The Guymon Utilities Authority (Authority) received approval for a $10,000,000 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 under producing and an aging lagoon that has begun to leak. The proposed projects are to perform planning and design for an additional water source and supply system to supplement the towns current system and to rehabilitate one of the systems lagoons including a new lift station and force main piping.
According to Joe Freeman, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $2,359,700 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 gas systems and a 1% sales tax. Local officials attending the OWRB’s monthly meeting in support of the loan application included Kim Peterson, Mayor, and Michael Shannon, Interim City Manager. Mr. Peterson shared, “With the increase in population and ongoing drought situation, we are in need of updating our water and wastewater systems. Thank you for the partnership.”
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 Senator Casey Murdock and State Representative Kenton Patzkowsky for their support of our financial assistance programs,” said Julie Cunningham, Executive Director of the OWRB.
“These projects have my full support as I am confident that they will benefit the communities of Guymon and Woodward by repairing existing systems and putting needed infrastructure in place for future economic development. I appreciate our partners at OWRB for their assistance and commitment to investing in Northwest Oklahoma,” said Senator Casey Murdock, R-Felt.
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Contact:
Joe Freeman
Oklahoma Water Resources Board
(405) 530-8800
Joe.Freeman@owrb.ok.gov
