Bond Programs
Lori Johnson,
Chief, Financial Assistance Division
OKLAHOMA CITY –The Southern Oklahoma Water Corporation (Corporation) received approval for $9,100,000 in funding Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Corporation’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 $575,250 in local funds.
The Corporation needs additional water capacity to support development at the Ardmore Industrial Air Park and the rural areas to the north and east of Ardmore. The proposed project is to add two clarifiers and backup power to the water treatment plant and upgrade the existing water distribution system by installing one (1) 12-inch water main and two (2) 8-inch water mains.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Corporation’s customers will save an estimated $13,741,000 compared to traditional financing.