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 Wright City Public Works Authority (Authority) in McCurtain County received approval for a $99,999 Rural Economic Action Plan (REAP) grant on Tuesday through the Oklahoma Water Resources Board (OWRB) to improve the Authority’s wastewater infrastructure.
The Authority operates a wastewater system that is currently facing inflow and infiltration challenges due to deteriorating sewer lines. The proposed project involves replacing approximately 1,300 linear feet of an 8-inch sewer line, along with all the necessary components to complete the work. The total estimated cost of the project is $99,999.00, which will be fully funded by an OWRB REAP grant in the same amount.
Lori Johnson, chief of the OWRB's Financial Assistance Division, calculated that the grant will save the Authority’s customers $180,100 in principal and interest charges by not having to borrow the project funds.
OKLAHOMA CITY –The Town of Rentiesville (Town) received approval for $1,153,848 in funding on Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Town’s stormwater infrastructure. Construction of upgrades and improvements will be financed by the OWRB American Rescue Plan Act (ARPA) grant program.
The Town of Rentiesville is facing stormwater drainage challenges due to erosion caused by wind and storms. The existing drainage system lacks the infrastructure needed to effectively manage water flow, resulting in ongoing damage to the current infrastructure. The proposed project will address these issues by replacing culverts, restoring ditches, and implementing erosion prevention measures, along with all necessary components to complete the work. The total estimated cost of the project is $1,153,847.50, which will be fully funded by an OWRB ARPA Grant in the same amount.
Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the Town’s customers will save an estimated $1,778,800.00 compared to traditional financing.
OKLAHOMA CITY –The Chandler Municipal Authority (Authority) received approval for $2,650,000 in funding on Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Authority’s wastewater infrastructure. Construction of upgrades and improvements to the wastewater system will be financed by the OWRB American Rescue Plan Act (ARPA) grant program along with matching funds from the Iowa Tribe.
The Authority is preparing for the increased demand on wastewater flows to service the Iowa Tribe’s future hotel and casino developments. To accommodate this growth, the Authority will undertake critical improvements to its wastewater treatment plant (WWTP), including replacing aging equipment, installing a new flow measurement structure, upgrading digesters, blowers, and pumps, and enhancing the electrical
system. The estimated cost of the project is $5,300,000.00, which will be jointly funded by a $2,650,000.00 OWRB ARPA Grant and $2,650,000.00 in Iowa Tribal funds.
Lori Johnson, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $4,275,900.00 compared to traditional financing.
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.