Oklahoma Water Resources Board the Water Agency

Financial Assistance Loan Program


Eligible Entities

  • Counties
  • Towns and municipalities
  • Public Works Authorities
  • School districts
  • Districts formed under Title 82 of the State’s statutes as follows:
    • Rural water districts
    • Water conservancy districts
    • Rural sewage districts
    • Irrigation districts

Eligible Projects

Any project related to water and/or sewer system improvements or refinancing of existing debt obligations incurred by communities for projects such as:

  • Water supply reservoirs
  • Water rights acquisition
  • Storage tanks
  • Water storage rights acquisition
  • Water supply and distribution lines
  • Land acquisition for source water protection
  • Water treatment systems
  • Land acquisition for water wastewater systems
  • Wastewater treatment, distribution, and storage
  • Water collection and treatment
  • Combined stormwater/sewer system overflow correction in the loan.

Debt Service Reserve

A debt service reserve of approximately 10% of the loan amount is required at loan closing. This reserve may be funded through local funds or may be included in the requested loan.

Financial Assistance Loan Terms

Double tax exempt AAA Market interest rate
Minimum payback period: 6 months
Maximum payback period: 30 years
Covenant rate factor (debt coverage): 1.25x
Ten (10%) percent debt service reserve may be included in the loan.

Resources

Application Compare OWRB Financing Programs Loan FAQ Rules (Chapter 50) Fact Sheet

Program Contacts

Joe Freeman, Chief Jennifer Wasinger, Assistant Chief

Financial Assistance Division
Oklahoma Water Resources Board
3800 North Classen Blvd.
Oklahoma City, OK 73118
Phone 405-530-8800
Fax 405-530-8898


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Page last updated: February 27, 2015

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