Press Release

OKLAHOMA CITY – The Altus Municipal Authority (Authority) received approval for $20,400,000 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 Drinking Water State Revolving Fund (DWSRF) where $1,000,000 of the loan will be in the form of loan forgiveness.

The Authority will utilize the proceeds to replace approximately 100,000 linear feet of waterline throughout the city. These improvements focus on water conservation and efficiency and will lead to increased water supply reliability; helping to meet the State of Oklahoma’s Water for 2060 goals.

Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $8,577,000 over the life of the 30-year loan compared to traditional financing.  The DWSRF loan will be secured with a lien on the revenues of the Authority’s water and sewer systems.  Altus’ Finance Director, Jan Neufeld, shared, “Thank you for the opportunity to present our project for replacement of water lines. We have been working on this for a while and are happy to be here.”