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Officials say Oklahoma Water Resources Board loans, partial forgiveness enable local water-line projects
Summary
At a Mayor and Board Commissioners meeting, commissioners discussed how loans and partial forgiveness from the Oklahoma Water Resources Board (OWRB) have funded recent local water-line and sewer projects, citing low interest rates and one-time forgiveness awards that reduced overall repayment amounts.
At a meeting of the Mayor and Board Commissioners, members discussed item 4.6, which reviewed the role of the Oklahoma Water Resources Board in funding municipal water-line and sewer projects.
The commissioners said the OWRB issues bonds and lends proceeds to cities and towns at lower interest rates than the private market, allowing local governments to replace aging water lines, repair sewers and undertake other infrastructure work. A commissioner described the state board as a “fantastic program” that has let the city borrow at rates well below what it would pay on the open market.
The discussion included recent local projects financed through the program. Commissioners said the…
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