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

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Last updated: October 05, 2022

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