Oklahoma Water Resources Board the Water Agency

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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.

Financial Assistance Loan Terms

  • Interest Rate: Low interest rate based on the OWRB's AAA credit rating
  • Up to 30 year term
  • 1.25x Debt Coverage Ratio
  • Local Reserve Requirement is satisfied when one of the following is met:
    • Cash Reserve - up to 10% of the loan amount
    • 'Super Debt Coverage Ratio' of 1.40x instead of 1.25x
    • Minimum credit rating of A- affirmed in the last 18 months
    • Surety Policy in the amount of not less than the Cash Reserve Requirement


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

Program Contacts

Joe Freeman, Chief Lori Johnson, 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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3800 North Classen Boulevard, Oklahoma City, OK 73118

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Last updated: December 20, 2017

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