Friday, Jan.20, 2006
Contact: Jessica Robinson, 573-751-0290
State Awards $85.2 Million for Water, Wastewater Service Improvements
JEFFERSON CITY–Gov. Matt Blunt announced that 10 Missouri communities and two public water districts have received $85.2 million in low-interest loans to construct and improve water and wastewater treatment facilities.
"These loans will help communities improve not only their drinking water and wastewater treatment capabilities but also their position for economic growth," Blunt said. "Citizens, the environment and the economy all benefit when communities have adequate and affordable infrastructure."
Working through the Missouri Department of Natural Resources’ State Revolving Fund, communities will receive loans with an average interest rate of 1.37 percent. Loan recipients are Arnold, Herculaneum, Indian Point, Jefferson City, Kirksville, Liberty, Newburg, Osage Beach, Russellville, Wentzville, Clarence Cannon Wholesale Water Commission serving Monroe County and the surrounding area, and Tri-County Water Authority serving Jackson, Bates and Cass counties.
"The State Revolving Fund has financed $1.54 billion for construction statewide and saved Missouri communities more than $478 million in interest when compared to conventional financing," said Department of Natural Resources’ Director Doyle Childers. "The communities participating in the State Revolving Fund will be able to make environmental improvements to their water and wastewater services while keeping rates affordable for their customers."
The State Revolving Fund is a perpetual loan program operated by the Department of Natural Resources in cooperation with the State Environmental Improvement and Energy Resources Authority that provides subsidized, low-interest loans to communities and public water and sewer districts statewide to construct water and wastewater treatment facilities. Federal funds through the U. S. Environmental Protection Agency are used to secure bonds issued by the State Environmental Improvement and Energy Resources Authority. These bonds provide $143 in construction for every $100 in federal funds at an interest rate significantly lower than can generally be achieved outside the program. The latest financing showed continued recognition of the strength of Missouri's program, which received a credit rating of AAA by Moody's Investors Service and AAA rating from Fitch Ratings.
For more information, contact the Department of Natural Resources at (800) 361-4827 or (573) 751-1192. For news releases on the Web, visit www.dnr.mo.gov/newsrel.
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