Bond Programs
Lori Johnson,
Chief, Financial Assistance Division
The Cherokee County Rural Water District No.1 (District) received approval for $430,000 in funding Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the District’s water infrastructure. Construction of upgrades and improvements to the water system will be financed by a 100% principal forgiveness loan through the Oklahoma Drinking Water State Revolving Fund (DWSRF).
The District will utilize the proceeds to construct a new booster pump station, water storage tank, and waterline to establish a connection with Muskogee County Rural Water District No. 7. This project will bring a more sustainable source of water for residents and businesses in and near Cherokee County Rural Water District No. 1 while helping to meet the State of Oklahoma’s Water for 2060 goals by reducing the number of wells being used on public water supplies through regionalization.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the District’s customers will save an estimated $565,600 compared to traditional financing.
The DWSRF program is administered by the OWRB and the Oklahoma Department of Environmental Quality (ODEQ) with partial funding from the U.S. Environmental Protection Agency (EPA). The DWSRF program has provided approximately $1.8 billion in drinking water loans to provide communities the resources necessary to maintain and improve the infrastructure that protects our valuable water resources statewide.
Since 1983, the Oklahoma Water Resources Board has approved over $5.4 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma.
Julie Cunningham, Executive Director of the OWRB, and Scott Thompson, Executive Director of the ODEQ, express their sincere appreciation to State Senator Kim David and Representative Chris Sneed for their support of the DWSRF program.