Bond Programs
Lori Johnson,
Chief, Financial Assistance Division
OKLAHOMA CITY –The Lone Grove Water & Sewer Trust Authority (Authority) received approval for $350,764 in funding 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 American Rescue Plan Act (ARPA) grant program along with $336,733 in Chickasaw Tribal matching funds, $2,400,000 from Department of Commerce Economic Adjustment Assistance, $635,000 from Indian Health Services (IHS), and 397,542.56 in local funds.
The Authority will utilize the proceeds to construct a new water well, purchase a backup generator for their largest well, construct a 400,000-gallon water storage tank, and for line replacement. The improvements will increase the storage capacity of the system and line pressure for existing users, while allowing for future growth.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $530,500.00 compared to traditional financing.
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