Bond Programs
Lori Johnson,
Chief, Financial Assistance Division
OKLAHOMA CITY –The Hobart Public Works Authority (Authority) received approval for $1,000,000 in funding Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Authority’s dam infrastructure. Construction of upgrades and improvements to the dam will be financed by the Oklahoma American Rescue Plan Act (ARPA) grant program along with previously approved funding under OWRB’s Financial Assistance Loan Program (FAP).
Hobart dam forms Rocky Lake which is a municipal water supply for the Authority. These proceeds will be used to perform spillway repairs to include the removal and replacement of concrete over a collapsed area and to re-establish the earthen emergency spillway.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $1,495,100 compared to traditional financing. Hobart City Manager, Ashley Slaughterback, stated “Hobart is grateful for consideration of the $1,000,000 to go toward our project.”
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