Bond Programs
Lori Johnson, Chief, Financial Assistance Division
Oklahoma Water Resources Board
Oklahoma Water Resources Board
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OKLAHOMA CITY –The City of Lexington (City) received approval for $1,000,000 in funding Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the City’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.
The City owns and operates a water distribution system that has under-sized and dilapidated waterlines. These proceeds will be used to replace approximately 5,000 linear feet of waterline with 6-inch PVC pipe and add valves and fire hydrants.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the City’s customers will save an estimated $1,553,200 compared to traditional financing.