Bond Programs
Lori Johnson, Chief, Financial Assistance Division
Oklahoma Water Resources Board
Oklahoma Water Resources Board
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OKLAHOMA CITY – The Norman Utilities Authority (Authority) received approval for a $5,000,000 loan Tuesday from the Oklahoma Water Resources Board (OWRB) to improve the Authority’s wastewater infrastructure. Construction of upgrades and improvements to the wastewater system will be financed by the Oklahoma Clean Water State Revolving Fund (CWSRF) along with a Congressional Directed Spending Grant totaling $4,600,000.
The Authority will use the OWRB proceeds and $4,600,000 Congressionally directed funds for improvements to their water reclamation facility. The project will include replacing dewatering centrifuges with a new hydraulic drive centrifuge system, the replacement of blowers, renovating the administration building, and constructing a new storage building. These upgrades will maintain treatment and future flow demands to meet population projections.
Joe Freeman, chief of the OWRB’s Financial Assistance Division, calculated that the Authority’s customers will save an estimated $650,800 over the life of the 25-year loan compared to traditional financing. The CWSRF loan will be secured with a lien on the revenues of the Authority’s water and sewer systems. City Manager, Darrel Pyle, Finance Director, Anthony Francisco, and Utilities Engineer, Nathan Madenwald represented the Authority at the OWRB’s Board of Directors meeting. Mr. Madenwald stated, “The City of Norman and Norman Utilities Authority thanks the OWRB for their help in funding projects which allow the Authority to treat water at a high level.”