Bond Programs
Lori Johnson,
Chief, Financial Assistance Division
OKLAHOMA CITY – The Minco Municipal Authority (Authority) in Grady County received approval for a $100,000 Rural Economic Action Plan (REAP) grant Tuesday through the Oklahoma Water Resources Board (OWRB) to improve the Authority’s wastewater infrastructure.
The Authority will use these proceeds to replace approximately 2,000 linear feet (lf) of 8" PVC sewer line, pipe bursting 1,550 lf of 8" sewer line, replace seventeen manholes, and rehabilitate twenty-one manholes within the collection system. The estimated cost of the project is $1,231,000 which will be funded by this REAP grant in the amount of $100,000, $1,000,000 of OWRB American Rescue Plan Act (ARPA) grant funds, and $131,000 in local funds.
Joe Freeman, chief of the OWRB's Financial Assistance Division, calculated that the grant will save the Authority’s customers $167,500 in principal and interest charges by not having to borrow the project funds. Since 1983 the Water Resources Board has approved over $6.4 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma.
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