Bond Programs
Lori Johnson, Chief, Financial Assistance Division
Oklahoma Water Resources Board
Oklahoma Water Resources Board
Learn about Oklahoma Water Resources Board including our News & Press Releases, Projects, and Team.
Have questions? Reach out to us directly.
Learn about Oklahoma Water Resources Board including our News & Press Releases, Projects, and Team.
The OWRB's mission is to protect and enhance the quality of life for Oklahomans by managing and improving the state’s water resources to ensure clean and reliable water supplies, a strong economy, and a safe and healthy environment.
Our primary duties and responsibilities include water use appropriation and permitting, water quality monitoring and standards, financial assistance for water/wastewater systems, dam safety, floodplain management, water supply planning, technical studies and research, and water resource mapping.
OKLAHOMA CITY – The Oklahoma City Water Utilities Trust (Authority) received approval for $2,500,000 in funding with $1,250,000 in principal forgiveness Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Authority’s Water infrastructure. Construction of upgrades and improvements to the water system will be financed by the Oklahoma Drinking Water State Revolving Fund (DWSRF).
The Oklahoma City Water Utilities Trust will use the funding to advance its lead service inventory verification program. Through hydro excavation and potholing on both public and private sides of the meter, the project aims to investigate and verify 5,000 remaining unknown service lines in the distribution system. This initiative will enhance water quality and public health for residents and businesses.
Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $2,022,000 compared to traditional financing. The DWSRF loan will be secured with a lien on their water, sewer, and sanitation revenues.
OKLAHOMA CITY – The Pawhuska Public Works Authority (Authority) in Osage County received approval for a $55,000 Emergency Grant Tuesday through the Oklahoma Water Resources Board (OWRB) to improve the Authority’s Water infrastructure.
The Pawhuska Public Works Authority is moving forward with essential repairs to its water treatment and distribution system following damage caused by heavy rainfall in late April and early May, which exposed and damaged a water line under Clear Creek. The project includes replacing the damaged line, encapsulating it in concrete to prevent future incidents, and completing all necessary appurtenances. The total project cost of $68,750.00 will be funded through a $55,000.00 OWRB Emergency Grant and
$13,750.00 in local funds. These improvements will ensure the reliability and resilience of the city’s water infrastructure.
Lori Johnson, chief of the OWRB's Financial Assistance Division, calculated that the grant will save the Authority’s customers $103,100 in principal and interest charges by not having to borrow the project funds.
OKLAHOMA CITY – The Harper County Rural Water District No. 1, Harper County, Oklahoma (District) received approval for a $88,246 Rural Economic Action Plan (REAP) grant Tuesday through the Oklahoma Water Resources Board (OWRB) to improve the District’s water infrastructure.
Harper County Rural Water District No. 1 in Harper County, Oklahoma, is advancing critical upgrades to its water system facilities, which include five wells, two booster stations, two standpipes, and 240 miles of waterlines. The planned improvements address corrosion issues caused by in-house chlorine storage, the absence of security fencing around booster stations, and the need for sanitary facilities for employees, as well as poor access road conditions. The project will relocate chlorine to a separate apparatus, install security fencing around wells and booster stations, construct sanitary facilities, and improve access roads with six inches of gravel. The estimated cost of $88,245.72 will be fully funded by an OWRB REAP grant.
Lori Johnson, chief of the OWRB's Financial Assistance Division, calculated that the grant will save the Authority’s customers $166,900 in principal and interest charges by not having to borrow the project funds
The Oklahoma Water Resources Board's (OWRB) Financial Assistance Division assists communities in their efforts to protect and conserve Oklahoma's water resources for current and future generations through cost-effective financial products, technical assistance, and high quality customer service. To find more information, please visit here.
Loan Programs:
The CWSRF loan program is funded by EPA capitalization grants, state matching funds, and bonds. The CWSRF is administered by the OWRB. The interest rate is approximately 60% of AAA market rate with 40% savings through federal subsidy.
The DWSRF loan program is funded by EPA capitalization grants, state matching funds, loan repayments, investment earnings, and bonds. The DWSRF is co-administered by the OWRB and the Oklahoma Department of Environmental Quality (ODEQ). The interest rate is approximately 70% of AAA market rate with 30% savings through federal subsidy.
The OWRB's state loan revenue bond program offers long term, variable interest rate funding with a fixed rate conversion option. This low interest rate is based on the OWRB's AAA credit rating.
Grant Programs:
The Emergency Grant Program is a point-based program designed to assist communities facing crises which threaten life, health, or property.
The REAP Grant Program is a point-based program designed to assist smaller communities that lack sufficient fiscal capacity. Cities, towns, and municipalities with a population less than 1,750 are given priority. Rural water and/or sewer districts with less than 525 non-pasture customers are also given priority.
Have questions? Reach out to us directly.