Woodward Municipal Authority receives $11,340,000 loan from the OWRB for water and wastewater system improvements

OKLAHOMA CITY – Woodward Municipal Authority (Authority) received approval for a $11,340,000 Financial Assistance Program (FAP) loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve its water and wastewater infrastructure.

Woodward Municipal Authority owns and operates water and wastewater systems that are in need of rehabilitation. The proposed project is for various water and wastewater improvements throughout the system, including water line and sewer line replacement, purchase of emergency backup generator, and rehabilitation of water storage tank, wastewater treatment plant, and water well.

According to Joe Freeman, chief of the OWRB’s Financial Assistance Division, the Authority’s customers will save an estimated $2,708,000 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 stormwater systems. Local official attending the OWRB’s monthly meeting in support of the loan application included Shaun Barnett, City Manager and Michael Jones, Assistant City Manager. “With the identification of improvements within our community, working with the OWRB makes it positive on moving forward,” Barnett said.

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 Representatives Carl Newton and Mike Dobrinski for their support of our financial assistance programs,” said Julie Cunningham, Executive Director of the OWRB.

Representative Newton shared, "I would like to congratulate Woodward as a recipient of this OWRB loan. This loan will be crucial in helping Woodward improve the water infrastructure of their community." 

“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,” Senator Casey Murdock, R-Felt.

####

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