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Press Release
March 26, 2015

Altus Receives $2.3 Million Water System Loan from OWRB

The Altus Municipal Authority (Authority) received a $2,300,000 loan Wednesday from the Oklahoma Water Resources Board (OWRB) to facilitate improvements to the community’s water infrastructure. The OWRB approved the Drinking Water State Revolving Fund (DWSRF) loan during the panel’s regular monthly board meeting.

Altus will use the funding proceeds to construct a new 12-inch water line parallel to an existing 18-inch line in order to use the existing line to bring well water from the Round Timber Ranch well field. The project also includes construction of several other water lines to loop existing dead-end lines back to the system, thereby increasing water distribution capacity.

Joe Freeman, chief of the OWRB’s Financial Assistance Division, said the 30-year DWSRF loan shall be secured with a lien on the revenues of the Authority’s water and sewer systems, and other real property. Altus's acting City Manager, Greg Buckley, spoke on behalf of the loan application at the OWRB’s monthly meeting.

Since 1983, the Oklahoma Water Resources Board has approved over $3 billion in loans and grants for water and wastewater infrastructure improvements throughout Oklahoma.

“We are grateful to Senator Mike Schulz and Representative Charles Ortega for their support of our financial assistance programs,” said J.D. Strong, executive director of the OWRB.

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