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Council authorizes nearly $25 million OWRB loan for water and sewer projects
Summary
Broken Arrow authorized use of an Oklahoma Water Resources Board loan fund totaling about $24.99 million to pay for roughly 15 water and sewer capital projects; the city will draw funds as projects are ready and said the loan is low-interest.
The Broken Arrow City Council authorized use of an Oklahoma Water Resources Board (OWRB) loan fund on June 2 to finance roughly $24,990,000 in water-utility capital improvements, city officials said on the City of Broken Arrow’s “City Council Rewind.”
Vice Mayor Johnny Parks described the loan as a low-interest option the city will draw from as specific sewer and water projects proceed. “We’re not gonna go borrow that money right now,” Parks said; instead, the city will take funds as “that sewer needs to be replaced” or “a water line needs to be fixed.”
City officials said the loan program will cover design and construction work across approximately 15 projects in different phases of the construction cycle, including sanitary sewer and drinking-water work. Parks characterized OWRB as an accommodating state agency and said the city traditionally pays its obligations on schedule.
The transcript also includes Parks’ remark that Broken Arrow is on schedule to access water from Grand River in the near future; the loan authority will support related system work, he said. The council’s authorization was described on the city-produced program; the transcript did not include a recorded roll-call vote or loan agreement terms.
The city will publish project-level details and use of the OWRB loan in its online agendas and project pages, according to the on-air summary.
