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W 1700.8 P966s 2004/05 c.1 THE STATEWIDE WATER DEVELOPMENT REVOLVING FUND FY 2005 PROPOSAL Submitted to the Second Session of The Forty-Ninth Oklahoma Legislature By the Oklahoma Water Resources Board February 2004 TABLE OF CONTENTS Executive Summary and Recommendations 1 SWDRF Purposes 2 Financial Assistance Programs 2 Sardis Reservoir Water Supply Storage Repayments 2 Proposed FY 2005 Program Description 3 Statewide Water Development Revolving Fund Summary 5 Appendix A - Program History and Accomplishments Appendix B - Sardis Reservoir Payment History Appendix C - Clean Water SRF Funding Source History Appendix D - Drinking Water SRF Funding Source History Appendix E - Approved and Funded Loans Appendix F - Approved and Funded Emergency Grants THE STATEWIDE WATER DEVELOPMENT REVOLVING FUND FY 2005 PROPOSAL EXECUTIVE SUMMARY AND RECOMMENDATIONS In order to develop a financial assistance program to provide water and wastewater infrastructure financing for Oklahoma communities, approximately $40 million has been contributed to the Statewide Water Development Revolving Fund that was established during the 1982 legislative session. These funds have been utilized for bond reserves, state matching funds, and to generate funds for emergency grants. This $40 million investment made by insightful State Leaders years ago has resulted in the following accomplishments: • Provided $1.35 billion in water and wastewater infrastructure financing in the form of low interest loans and grants. • Generated an asset base of nearly $350 million that continues to provide financial assistance for water and wastewater infrastructure projects in Oklahoma. • Reduced the total cost of financing water and wastewater projects by over $415 million. The following recommendations proposed in this report are actions that the Board believes are essential to perpetuating its financing strategy of providing the lowest possible cost of funding to Oklahoma communities for their water and wastewater infrastructure needs: • Appropriation of $1,074,123.69 for the annual payment for water supply storage costs at Sardis Reservoir. • A $6.5 million investment in an Update to the Oklahoma Comprehensive Water Plan to facilitate the most effective use of Oklahoma's water resources and focus financial assistance resources on the State's top priorities as identified in the plan. • An $118 million investment in the financial assistance programs of the OWRB which will generate a total of nearly $270 million in new assets and provide cost savings to Oklahoma communities totaling $186.9 million in the next six years alone. Demand for funding continues to outpace the sources for financial assistance. Oklahoma communities will need a total of nearly $2.0 billion in financing over the next six years. Without additional financial capital for the OWRB financial assistance programs, a $669 million dollar funding shortfall will occur that will cost Oklahoma communities an additional $186.9 million. Due to the increased costs, many Oklahoma communities may have difficulty in providing safe drinking water and adequate wastewater treatment for their citizens. SWDRF PURPOSES The various purposes for which the SWDRF may be used are set forth in Title 82, Oklahoma Statutes 2001 §1085.40, which reads in pertinent part as follows: 1. For the planning, and upon legislative authorization, acquisition of land, construction, operation and maintenance of multipurpose reservoirs and desalination facilities within the State of Oklahoma; 2. To provide for and pay the share, contribution, or portion of the cost the state shall pay for any legislative-approved, federally funded water project for bank stabilization, flood control, weather modification, hydroelectric power, water supply, irrigation, recreation, and other beneficial uses; and 3. To fulfill state contractual obligations upon legislative authorization and pursuant to approved repayment agreements with the federal government and incidental federally funded water supply storage projects. Furthermore, Title 82, Oklahoma Statutes 2001 §1085.44 authorizes the use of monies on deposit in the SWDRF as security and collateral for the investment certificates issued by the OWRB and directs the OWRB to manage and administer the SWDRF so as to maintain a balance adequate to sufficiently back any and all outstanding bond issues. Thus, the OWRB is assigned the responsibility of allocating the money in the SWDRF between expenditure and security/collateral purposes. FINANCIAL ASSISTANCE PROGRAMS The OWRB initiated its financial assistance programs in 1979. The first grants were made in 1983; the first loans made in 1986. Today, the OWRB administers three loan low interest programs: the State Loan Program, the Clean Water State Revolving Fund, and the Drinking Water State Revolving Fund; and two grant program: the Emergency Grant Program and the Rural Economic Action Plan Grant Program. The Statewide Water Development Revolving Fund (the "SWDRF") plays an integral role in allowing the OWRB to provide the financial assistance programs. Out of a total investment into the SWDRF of approximately $40 million, including an initial investment of $25 million in 1983, the OWRB has generated a permanent asset base totaling $350 million and has provided $1.35 billion in loans and grants for critical water and wastewater infrastructure projects all across the State. For a more detailed discussion of the OWRB's financial assistance programs, please see Appendix A. SARDIS RESERVOIR WATER SUPPLY STORAGE REPAYMENTS The SWDRF has also been utilized to make money available to fulfill cost-sharing requirements on federal water projects, construction of state water projects, and repayment of water supply storage contracts between the state and the federal government. These latter uses of the Fund are necessitated by declining federal participation and, subsequently, the growing responsibility of states in financing local water systems and major multi-purpose facilities. Sardis Reservoir, located in southeastern Oklahoma, southeast of McAlester near the Town of Clayton in the Kiamichi River basin, is the only reservoir meeting the criteria for this SWDRF purpose. In 1974, a predecessor to the Board, the Water Conservation Storage Commission, entered into a contract to repay storage cost, with annual payments on 'present use' storage to 2 begin after project completion. The contract was assumed by the OWRB in 1979 pursuant to legislative direction at Title 82, Oklahoma Statutes §1085.38. After the reservoir was completed in 1983, the OWRB made six annual payments (1983-1988) of approximately $500,000 each. Although requested in Statewide Water Development Revolving Fund annual reports such as this, the Legislature did not approve additional appropriations for the next seven annual payment (1989-1995) invoiced by the Corps of Engineers. The 1996 annual payment of $508,030 and the 1997 annual payment of $1,175,850 were appropriated from the "Rainy Day" Fund. A total of $4,415,640.83 has been paid to the Corps. In July 1998, the United States filed suit in federal court seeking enforcement of the 1974 contract and an order from the court to prohibit the state from denying its obligations under the 1974 contract. The Corps contends that approximately $15.8 million is due and owing on the 1974 contract including payments billed in 1998 - 2004 and late payment interest. See Appendix B for Sardis Reservoir payment information. PROPOSED FY 2005 PROGRAM DESCRIPTION The OWRB considers the items listed in the SWDRF spending proposal for FY 2005 to essential to perpetuating its financing strategy of providing the lowest possible cost of funding to Oklahoma communities for their water and wastewater infrastructure needs. These include: (1) the annual water supply storage repayment for Sardis Reservoir, (2) $6.5 million investment in the Comprehensive Water Plan, and (3) $118 million investment in the financial assistance programs of the OWRB. 1. Annual Water Supply Storage Repayment for Sardis Reservoir The scheduled FY 2005 annual payment for water supply storage costs at Sardis Reservoir is $1,074,123.69. Consideration should be given however, to the outright purchase of Sardis Reservoir from the Corps, as an asset of the state that would likely be far more valuable than its purchase price. Such a purchase price would need to be established based on negotiation with the Corps. 2. $6.5 Million Investment in the Comprehensive Water Plan In 1992, the State Legislature directed the OWRB to update the Oklahoma Comprehensive Water Plan every 10 years. The 1995 Update focused on obtaining water resource data, conducting supply and demand analyses through 2050, and water related issues and problems including water quality, water rights, water conservation, and water supply augmentation. The OWRB proposes that the 2005 Update be "regionally focused" identifying and implementing specific improvements and management strategies necessary to meet future water needs. This regional planning approach should be driven by local users; however sufficient funding and technical assistance must be provided from the state (through the OWRB) to develop each regional plan and identify projects for funding. The OWRB proposes a total investment of $6.5 million over the next three fiscal years to fund the planning process. 3. $118 Million Investment in the Financial Assistance Programs of the OWRB Through the year 2010, over $2.0 billion will be needed for water and wastewater infrastructure financing across Oklahoma, including over $1.6 billion in new projects. A total investment of $118 million in Oklahoma's financial assistance programs will allow the OWRB to be able to provide $1.63 billion in financing over the next six years while reducing 3 the costs of financing to Oklahoma communities by a total of $476.6 million. It will also build sufficient program assets to ensure that the OWRB positions itself to continue to provide sufficient low-cost funding levels for future water and wastewater financing needs. The $118 million investment will be used to benefit Oklahoma in the following manner: $83 million investment in the Drinking Water SRF • Access $75 million in future federal Drinking Water SRF capitalization grants by providing $15 million in state matching funds. • Provide a reserve fund capital infusion of $68 million to allow the OWRB to issue approximately $120 million in revenue bonds each year in order to finance the entire $720 million demand for new drinking water infrastructure financing over the next six years. • Save Oklahoma ratepayers an additional $105 million in project financing costs over the next six years. $20 million investment in the State Loan Program • Provide a reserve fund capital infusion of $20 million to allow the OWRB to issue approximately $50 million in State Loan Program revenue bonds each year in order to finance the entire $300 million demand for drinking water and wastewater infrastructure financing and refinancing over the next six years. • Provide $20 million in permanent assets that generate an estimated $4.8 million ($800,000 per year) in investment earnings over six years to fund Emergency Grants or to facilitate future Sardis Lake debt service payments. • Save Oklahoma ratepayers an additional $42.2 million in project financing costs over the next six years. $15 million investment in the Clean Water SRF • Access $75 million in future federal Clean Water SRF capitalization grants by providing $15 million in state matching funds. • Allow the OWRB to issue approximately $100 million in revenue bonds each year in order to finance the entire $600 million demand for new wastewater infrastructure financing over the next six years. 4 STATEWIDE WATER DEVELOPMENT REVOLVING FUND SUMMARY For the Period July 1, 1983 to December 31, 2003 Investment Activitv Revenues Earnings Expenditures Balance Revenues during period: - Initial Approp. - 7/1/83 $25,000,000.00 - Supplemental Approp. - FY91 4,314,313.00 - Rainy Day Fund - FY93 1,639,547.00 - Rainy Day Fund - FY94 4,358,209.00 - G.O. Bond Funds - FY94 5,000,000.00 - Proceeds from Ute Lawsuit - FY94 200,000.00 - Proceeds from Bond Sale - FY95 1,926,520.00 - Approp. (Sardis) - FY97 508,030.00 - Tar Creek Settlement and interest 94,137.69 - Approp. for Non-point Source Loans 3,500,000.00 Investment Earnings during period: <$20,242,754.97>* Expenditures during period: - Security for Bond Issues <$22,684,705.81 >** - Sardis Water Storage Contract <3,239,790.69> - Research Studies/Tar Creek <634,242.97> - Clean Water State Revolving Fund <16,387,879.53> Loan Account - Approp. for Non-point Source Loans <3,500,000.00> Reapproriated Totals $46,540,756.69 <$20,242,754.97>* <$46,446,619.00> $94,137.69 * This amount represents interest earnings on the SWDRF and escrowed funds which by law have been placed in the Water Resources Fund-Grant Account. ** A portion of this amount was used to repay a note issuance. The amount currently held as collateral for State Loan Program, CWSRF, and DWSRF note and bond issues that fund Financial Assistance Program water/wastewater loans for Oklahoma communities and rural water systems is $19,984,633.89. 5 CSo"C'iC::lc;noec 3." ::I: 5' e•-n.'•O.:l::l> o ~, "'C ~ !. "'C Oc::l.:.>l~em,nzC (>") e••n•.->< (o"):::Ol l> 3 g "e-2n'..".0',C ::Tcc 3 Sil e•~.n•.e3n OWRB FINANCIAL ASSISTANCE PROGRAMS PROGRAM HISTORY AND ACCOMPLISHMENTS The OWRB administers three loan programs and two grant programs that provide financial assistance to Oklahoma communities. The State Loan Program, the Clean Water State Revolving Fund Loan Program (the "Clean Water SRF"), and the Drinking Water State Revolving Fund Loan Program (the "Drinking Water SRF") provide low interest loans to eligible entities for water and wastewater infrastructure projects. The Emergency Grant Program and the Rural Economic Action Plan Grant Program (the "REAP Grant Program") provide grants for emergency and rural infrastructure projects. Passed in 1979, Senate Bill215 fashioned the basic structure of the OWRB's State Loan Program. This bill authorized the OWRB to issue revenue bonds and then make loans to Oklahoma communities for water system improvements and expansions. The original program contained a $1.5 million ceiling per project and was limited solely to water-related projects, such as impoundments, distribution lines, treatment plants and storage tanks. In 1980, the passage of HB 1710 amended the program by including sewage treatment plants as eligible projects and authorized the OWRB to issue grants of up to $50,000 per entity per fiscal year. The source of grant funding was intended to be legislative appropriations, however, no funding was provided and thus no grants were actually made. Senate Bill 145 (1982) contained several key provisions aimed at strengthening the state's capability to meet water project financing needs. The legislation addressed several legal and technical issues with the initial statutory language and removed the $1.5 million ceiling on each project, thereby allowing the OWRB to loan money for medium and large-sized projects. SB 145 also added sewer collection and distribution facilities as eligible projects and created the Statewide Water Development Revolving Fund (the "SWDRF"). The legislation provided that interest earnings on the SWDRF could be used to finance Emergency Grants of up to $100,000 to eligible entities. In view of the substantial budgetary surplus that year, a $25 million initial appropriation was made to the SWDRF. The Oklahoma Supreme Court ruled in 1984 that the use of the SWDRF as security and collateral for bond issues would violate the Oklahoma Constitutional provisions against assuming debts and loaning credit of the state. Therefore, State Question 581 was submitted to and approved by a vote of the people at a special statewide election held on August 28, 1984. State Question 581 amended the Oklahoma Constitution to include a new Section 39 of Article 10 authorizing the Financial Assistance Program without the Constitutional limits cited by the Supreme Court. STATE LOAN PROGRAM As authorized by Title 82 of the Oklahoma Statutes, Section 1085.31 et seq. (as amended), the State Loan Program provides low interest rate loans from revenue bond proceeds to eligible entities requesting financial assistance to construct water and/or sewer projects or to refinance existing indebtedness related to water or sewer systems. Borrowers pledge to loan repayment water and/or sewer system revenues or other forms of local revenues. Eligible entities include all political subdivisions of the state, special purpose districts, public trusts and rural water and sewer districts. How It Works The OWRB issues a series of revenue bonds. The bond proceeds are utilized to make loans to eligible entities. The loan repayments are collected by the OWRB's Trustee Bank and used to make principal and interest payments on the bonds and to pay various program costs, including liquidity facility providers, trustee bank fees, remarketing agent fees, and OWRB administrative costs. Loans can be made in a variable interest rate mode or a fixed interest rate mode for terms of up to thirty (30) years. The bonds are also secured by a combination of cash and surety policy reserve funds that would be available for bond debt service in the event loan repayment revenues are insufficient. The cash portion of the reserves are invested and the interest earnings are utilized to fund the OWRB's Emergency Grant Program. The OWRB's bond credit rating is based on the composite pool of all borrowers. The diversity of many large and small borrowers allows for a bond rating higher than any single community could achieve on its own. The State Loan Program is considered a "blind pool" bond program because the exact composition of the pool is unknown at the time the bonds are issued by the OWRB. With a "AA+" rating from Standard and Poor's Rating Services, the Oklahoma State Loan Program is the highest rated blind pool program of its kind in the nation. Several other states have utilized the Oklahoma State Loan Program as a model. See Figure One below. Figure One - Basic Model of State Loan Prn"r~m Loans ~: Eligible Entities I Cash OWRB State ~ Reserve Bond Security Loan Loan Repayments Funds ..................................... ~ Program •.. 1 Eligible Entities I Revenue ...• "'1 I Bonds I •....1 Eligible Entities I ...• I t Interest Eamings used for Emergency Grants Standard and Poor's Rating Services, in upgrading the credit rating of the State Loan Program to "AA+" from "AA" in June of 2003, cited strong reserve levels and continued solid management of the State Loan Program. Since 1985, the OWRB has issued over $716 million in revenue bonds through its State Loan Program and has never experienced a payment default on its local loans. As of January 31, 2004, the OWRB has approved 291 loans in the aggregate principal amount of $492,975,000 and funded 281 loans in the aggregate principal amount of $470,370,000.1 As of January 31, 2004, there are 217 loans outstanding with an aggregate principal balance of $282,409,999.96. The six-month variable interest rates are at all time lows of 1.67% to 1.80%. The variable interest rate has averaged approximately 4.438% since 1986. Fixed interest rate loans have assisted borrowers in locking in long-term debt service costs at lower interest rates because of the State Loan Program's pooled credit strength. Including loans projected to be made from the Series 2003A bond issue, use of the State Loan Program instead of issuing their own bonds has saved Oklahoma Communities an estimated $122.7 million in debt service savinqs". 1. See Appendix E for a list of approvedand funded loansthrough the financial assistanceprograms. 2. Savingsare calculatedbasedon a comparisonof the cost of funds through the applicableOWRB programand the cost of funds if the projectwere independentlyfinanced by the borrowers. Factors considered includecommunitycredit ratingsand length of financing. A-2 PROFILE: LEXINGTON PUBLIC WORKS AUTHORITY The Lexington Public Works Authority borrowed money from the State Loan Program in 1989 and 2002, in a total amount of $1.055 million. Lexington utilized the funds to make improvements to its wastewater collection and treatment facilities. The availability of the State Loan Program reduced the total project financing costs by approximately $428,000; these cost savings translate to savings for each of Lexington's approximately 850 customers of $1.88 per month. PROFILE: CREEK COUNTY RURAL WATER DISTRICT #1 In 1994, Creek County Rural Water District #1, which serves the Kellyville area, borrowed $2.255 million to construct a water treatment plant and make other improvements to the District's drinking water system. The variable rate loan through the State Loan Program has averaged 3.78% since origination and stands at 1.75% as of January 31, 2004. The availability of the State Loan Program will reduce the District's costs of financing by approximately $436,000 over the 15 year life of the loan. PROFILE: STILWELL AREA DEVELOPMENT AUTHORITY With three different loans, the Stilwell Area Development Authority has borrowed nearly $7.5 million from the State Loan Program and the Clean Water SRF since 1996 for several drinking water and wastewater system improvements. The availability of these two programs will save Stilwell approximately $2.1 million over the life of the three loans. The financial impact for Stilwell is a savings of $5.09 per customer every month in reduced financing costs. EMERGENCY GRANT PROGRAM The OWRB's Emergency Grant Program has been extremely effective in rescuing the state's small communities from financial crises posed by unforeseen disasters and imminent health hazards which could not have been prevented by the exercise of reasonable care by the applicant. In many instances, the grant program offers the only relief available to troubled communities and rural water systems. Since the program's inception in 1982, the OWRB has approved 504 Emergency Grants totaling over $29.5 million to cities, towns, schools and rural water districts. 3 Every one of these grants was funded at no additional cost to the State of Oklahoma. All emergency grants are funded by interest earnings from the State Loan Program reserve fund and interest earnings on other monies in the SWDRF. The availability of these Emergency Grants has saved Oklahoma Communities an estimated $54.4 million in total debt service versus if these projects had instead been funded through loans. The Emergency Grant program has directly stimulated economic development in the state by playing an instrumental role in the construction of over $155 million worth of water and wastewater projects. 3. See Appendix F for a list of approved and funded emergency grants through the financial assistance programs. A-3 CLEAN WATER SRF LOAN PROGRAM The Clean Water SRF Loan Program provides below market interest rate loans to eligible entities for wastewater infrastructure and other water quality projects. Title VI of the federal Clean Water Act, adopted in 1987, established a clean water (wastewater) state revolving fund (the federal "Clean Water State Revolving Fund") program. Under this program, each state is required to establish a revolving fund administered by the state or an instrumentality of the state in order to accept federal capitalization grants from the United States Environmental Protection Agency (the "EPA") for eligible publicly-owned water quality projects. In order to qualify for such federal capitalization grants, a state must pay into the revolving fund a matching amount (the "State Match") equal to at least 20% of the amount of such grants. The state water pollution control revolving funds are used to provide financial assistance to municipalities in connection with the construction, rehabilitation, expansion or improvement of publicly owned systems for the storage, treatment, recycling and reclamation of municipal sewage. Federal appropriations have continued to be made annually to states for funding wastewater treatment projects even though the Clean Water Act has expired by its terms and, as of this date, has not yet been reauthorized by Congress. Following enactment of the laws creating the federal Clean Water State Revolving Fund Program, legislation was adopted in the State in 1988 (HB 1914) establishing a complying program within the State. Title 82 of the Oklahoma Statutes, Section 1085.51 et seq. (as amended), established the Clean Water State Revolving Fund Loan Account within the State's Water Resources Fund to implement Title VI of the federal Clean Water Act. This legislation designates the OWRB as the state instrumentality to apply for and administer federal Clean Water State Revolving Fund capitalization grants that are available through the federal Clean Water Act. Projects which are eligible to be financed through the Clean Water SRF Program are generally limited to wastewater system improvements or other water pollution control projects and refinancing debt incurred for qualified wastewater system improvements. Through and including the fiscal year 2004, the OWRB has made or will make available from proceeds of capitalization grants and State Match approximately $227 million in Clean Water SRF program assets to eligible entities for wastewater infrastructure improvements. In addition, on August 15, 2001, the OWRB made available $26 million in leveraged funds for Clean Water SRF interim construction loans to large communities from proceeds of its "AA" rated $28.89 million Clean Water State Revolving Fund Interim Construction Loan Revenue Bonds, Series 2001. State Match funds were provided through various appropriative mechanisms through 1993; beginning in 1994 through present date the OWRB has issued short-term revenue notes to fund the State Match requirement. The revenue notes were repaid from Clean Water SRF loan interest income and investment earnings. See Appendix C for a summary of the historical funding sources for the Clean Water SRF Program. How It Works The OWRB receives federal capitalization grants, state matching funds, loan repayments, and any bond issue proceeds to make loans to eligible entities at an interest rate approximately .equal to 60% of the prevailing market interest rate for a term of up to twenty (20) years following completion of construction. As principal and interest on each loan is repaid, the proceeds are "revolved" or re-loaned to new borrowers. The OWRB has historically utilized a dual funding strategy for eligible borrowers. "Large Communities" of over 10,000 population have received interim construction loans at a low fixed interest rate. Upon completion of construction, the borrower would refinance the loan with a loan from the State Loan Program and an interest-free loan from the Clean Water SRF. The resulting blend of interest rates equaled approximately 60% of the prevailing market interest rates, and allowed large communities the flexibility to choose either variable or fixed interest loans from the A-4 State Loan Program, while quickly returning funds to the Clean Water SRF so more funds would be available for new projects. "Small Communities" of less than 10,000 population receive a single long-term loan at a fixed or variable rate equal to 60% of the prevailing market interest rates. See Figure Two below. Figure Two - Basic Model of Clean Water SRF Loan Program Loans ••.1 Eligible Entities I .~ OWRB ~ •.., ~ Loan Repayments , Clean WaterSRF ~ ••....,, Eligible Entities I Loan ....• , .~ Program •.., ...• •.., Eligible Entities I ....• I EPA Cap . Grants As of January 31,2004, the OWRB has approved 151 Clean Water SRF loans in the aggregate principal amount of $501,828,716.99 and funded 145 loans in the aggregate principal amount of $495,145,936.19.4 As of January 31,2004, there are 115 Clean Water SRF loans outstanding with an aggregate principal balance of $168,633,890.11. Since program inception, the average fixed interest rate for Clean Water SRF Loans has been approximately 2.78%. Use of the Clean Water SRF program instead of issuing their own bonds has saved Oklahoma Communities an estimated $123.2 million in debt service savings. PROFILE: STILLWATER UTILITIES AUTHORITY In 2001, the Stillwater Utilities Authority obtained a $20.3 miliion .C..lean Water SRF interim construction loan to make substantial upgrades and 'additions to their wastewater treatment capacity. Stillwategalsq obtained an $8.5 million Drinking Water SRF interim construction loan in 2000 to upgrade its drinking water treatment facilities. Upon final refinancings of both projects (utllizinq'the State Loan Program blended with zero interest SRF loans) the Stillwater Utilities Authority will have locked in over $16 million in debt service savings for the Authority's nearly 13,000 customers. This equates to approximately $2.96 in savings every month for each customer; without the Clean Water SRFi and Drinking Water SRF, Stillwater customers would have had to pay approximately $35.52 more on their water and sewer bills every yearfor 20 years to pay the additional $16 million cost offinancing the projects. PROFILE: SULPHUR MUNICIPAL AUTHORITY The Sulphur Municipal Authority recently completed a project to re'placesewer lines in and around the city funded with a $1 million Cleal) Water SRF loan. The use of the Clean Water SRF saved the Authority approximately $727,000 in project financing costs. Each of Sulphur's 2,30q customers would have to pay $1.19 per month more for 20 years to complete the project had the Clean Water SRF not been available. . " State Match Funds 4. See Appendix E for a list of approved and funded loans through the financial assistance programs. A-5 PROFILE: TULSA METROPOLITAN UTILITY AUTHORITY The Tulsa Metropolitan Utility Authority has been a consistent borrower throug/1 the OWRB's Clean Water SRF and State Loan Programs. Since 1990, tne OWRB has made 29 loans to Tulsa totaling over $228 million; the OWRB anticipates closing'!an additional $32 million in February 2004. Under the Clean Water SRE program alone, Tulsa has funded over $118million in new ccmstru2tion. The nets~yings for Tulsa are now approaching $50 mfllion. " . DRINKING WATER SRF LOAN PROGRAM The Drinking Water SRF Loan Program provides below market interest rate loans to eligible entities for drinking water infrastructure projects. Amendments to the federal Safe Drinking Water Act effective in 1996 established a safe drinking water revolving fund (the federal "Safe Drinking Water State Revolving Fund") program. Under this program, each state is required to establish a revolving fund administered by the state or an instrumentality of the state in order to accept EPA federal capitalization grants for eligible drinking water projects. In order to qualify for such federal capitalization grants, a state must pay into the revolving fund a matching amount (also "State Match") equal to at least 20% of the amount of such grants. State drinking water revolving fund loans serve to protect the public health and to achieve compliance with the federal Safe Drinking Water Act. The state drinking water revolving funds are used to provide financial assistance to publicly owned or privately owned water systems in connection with the planning, design, development, construction, repair, extension, improvement, remodeling, alteration, rehabilitation, reconstruction or acquisition of all or a portion of a public water system. Following enactment of the laws creating the federal Safe Drinking Water State Revolving Fund program, legislation was adopted in the State in 1994 (HB 2426) establishing a complying program within the State. Title 82 of the Oklahoma Statutes, Section 1085.71 et seq. (as amended), established the Drinking Water Treatment Revolving Loan Account within the State's Water Resources Fund to implement the 1996 amendments to the federal Safe Drinking Water Act. This legislation designates the duties of the Oklahoma Water Resources Board and the Oklahoma Department of Environmental Quality ("DEQ") with respect to this program. Each year, the OWRB and the DEQ enter into an Inter-Agency Agreement setting forth the duties and roles of each agency with respect to the program. Projects which are eligible to be financed through the Drinking Water SRF Program are generally limited to drinking water system improvements and refinancing debt incurred for qualified public drinking water system improvements. Through and including the fiscal year 2004, the OWRB has made or will make available from proceeds of capitalization grants and State Match approximately $100 million in Drinking Water SRF program assets to eligible entities for drinking water infrastructure improvements. In addition, on October 29,2003, the OWRB made available over $115 million in leveraged funds and $10 million in State Match funds for Drinking Water SRF loans from proceeds of its "AAA" rated $122.91 million Revolving Fund Revenue Bonds, Series 2003 (Master Trust). State Match funds were provided through various appropriative mechanisms from 1997 to 1999; and the OWRB utilized short term revenue notes (repaid from Drinking Water SRF interest income and investment earnings) to provide the 2000 State Match. The 2001 through 2004 State Match funds were provided through the Master Trust bond issue. See Appendix D for a summary of the historical funding sources for the Drinking Water SRF Program. How It Works The OWRB receives federal capitalization grants, state matching funds, loan repayments, and any bond issue proceeds to make loans to eligible entities at an interest rate approximately equal to A-6 70% of the prevailing market interest rate on its Master Trust bond issue for a term of up to twenty (20) years following completion of construction. Until the issuance of its Master Trust bonds, the OWRB has historically utilized the same dual funding strategy as used by the Clean Water SRF. However, due to demand for loans far outpacing the availability of capitalization grant and State Match funds, the OWRB has "leveraged" its Drinking Water SRF program by issuing bonds secured by loan repayments and a large reserve fund comprised of various program assets including capitalization grant funds. The bonds are issued at market rate, but the earnings from the reserve fund allow the OWRB to make loans below market rate. The reserve fund earnings effectively subsidize the interest rate for each borrower. As the bonds are retired, a portion of the reserve fund and any excess loan repayments are released out of the bond trust estate back to the Drinking Water SRF where they can be used for new loans or be pledged as reserve to future bond issues. All loans are now made as fixed interest rate loans for approximately 20 years. As of January 31, 2004, the established interest rate is 3.0%, effective until all proceeds of the 2003 Master Trust bonds are obligated. A new interest rate will be established at the time of a new bond issuance. See Figure Three below. Figure Three - Basic Model of Leveraged Drinking Water SRF Loan Program EPA Loans I OWRB Bond Revolving "'1 Eligible Entities I Cap ......~ Security ...• Drinking ......................... ~ Fund ....• Grants Loan Repayments I Water Revenue ~lEligible Entities I SRF Bonds ...• Loan (Master ....• State Match ......~ Program 1'1II:....................... Trust) Released •..: Eligible Entities I Funds ...• Funds As of January 31,2004, the OWRB has approved 36 Drinking Water SRF loans in the aggregate principal amount of $136,113,599.74 and funded 29 loans in the aggregate principal amount of $77,569,428.14.5 As of January 31,2004, there are 25 Drinking Water SRF loans outstanding with an aggregate principal balance of $40,213,587.68. Including loans projected to be made from the 2003 Master Trust bond issue, use of the Drinking Water SRF program instead of issuing their own bonds has saved Oklahoma Communities an estimated $53.8 million in debt service savings. PROFILE: BARTLESVILLE MUNICIPAL AUTHORI1BY The OWRB recently approved the largest loan in its history for $45.5 million to the Bartlesville Municipal Authority. The Drinking Water SRF loan will bear a fixed interest rate of 3.0% for the 20 year life of the loan and will finance a new 26 million" gallon per day drinking water treatment plant that will ultimately serve the City of Bartlesville and numerous surrounding communities including Dewey, Ramona, Ochelata, and rural water districts in Washington and Osage Counties. Not only will the use of the Drinking Water SRF save the City and surrounding communities over $13 million in finance costs, but the regional treatment plant will result in much higher quality drinking water at much lower costs than' many of the surrounding communities could afford on their own. w!'J;uiiin;ilii1i: 5. See Appendix E for a list of approved and funded loans through the financial assistance programs. A-7 PROFILE: DUNCAN PUBLIC UTILITIES AUTHORITY The Duncan Public Utilities Authority has financed over $20 million in construction improvements to its wastewater treatment and collection system through the State Loan Program and the Clean Water SRF. Use of the OWRB's financial assistance programs has already reduced the total financing costs for Duncan ratepayers by $4.6 million, a savings of $1.62 per customer every month. Now, in order to meet new regulations for drinking water quality related to turbidity and tri-halomethanes, Duncan has turned to the Drinking Water SRF. The $10 million Duncan has requested for FY 2005 will reduce the total financing costs by approximately $3.2 million; this will result in additional savings to Duncan ratepayers of $1.16 per customer every month. REAP GRANT PROGRAM In 1996, the Oklahoma Legislature initiated the REAP Grant Program. The OWRB's REAP Grant Program has been extremely effective in providing funds for water and wastewater projects in the state's small rural communities by awarding grants up to $150,000. The program has been funded with annual appropriations made available by the Legislature. Since the program's inception in 1997, the OWRB has approved 387 REAP Grants totaling $33.5 million to cities, towns, schools and rural water districts. The availability of these REAP Grants has saved Oklahoma Communities an estimated $61.7 million in total debt service versus if these projects had instead been funded through loans. The REAP Grant program has directly stimulated economic development in the state by playing an instrumental role in the construction of over $60 million worth of water and wastewater projects. A-8 APPENDIX 8 Sardis Reservoir Payment History SARDIS RESERVOIR UNPAID INVOICES Payment # Period Amount Invoiced 7 1/7/89-1/6/90 $458,633.44 8 1/7/90-1/6/91 $464,568.99 9 1/7/91-1/6/92 $479,965.60 10 1/7/92 -1/6/93 $480,731.24 11 1/7/93-1/6/94 $472,842.47 12 1/7/94-1/6/95 $540,891.30 13 1/7/95-1/6/96 $512,847.28 16 1/7/98-1/6/99 $1,130,015.63 17 1/7/97 -1/6/00 $1,058,040.93 18 1/7/00-1/6/01 $1,056,131.99 19 1/7/01-1/6/02 $1,079,119.62 20 1/7/02-1/6/03 $1,084,205.71 21 1/7/03-1/6/04 $1,074,123.69 Historical Funding Sources Oklahoma Clean Water State Revolving Fund As of January 31, 2004 Fiscal Federal Cap Grant State Match Bond Issue Less 4% Total Available For Year Amount Amount Over Match Amount Proceeds Notes Administration Assistance 1988 $9,278,000.00 $1,855,600.00 $0.00 $0.00 (1) $371,120.00 $10,762,480.00 1989 $7,597,400.00 $1,519,480.00 $0.00 $0.00 (2) $303,896.00 $8,812,984.00 1990 $7,862,000.00 $1,572,400.00 $0.00 $0.00 (3) $314,480.00 $9,119,920.00 1991 $16,580,619.00 $3,316,123.80 $0.20 $0.00 (3) $663,224.76 $19,233,518.24 1992 $15,697,737.00 $3,139,547.40 $0.60 $0.00 (4) $627,909.48 $18,209,375.52 1993 $15,528,546.00 $3,105,709.20 -$0.20 $0.00 (5) $621,141.84 $18,013,113.16 1994 $9,632,600.00 $1,926,520.00 $0.00 $0.00 (6) $385,304.00 $11,173,816.00 1995 $9,951,183.00 $1,990,236.60 $0.40 $0.00 (7) $398,047.32 $11,543,372.68 1996 $16,300,350.00 $3,260,070.00 -$1.00 $0.00 (7,8) $652,014.00 $18,908,405.00 1997 $4,986,100.00 $997,220.00 $21,450.00 $0.00 (8) $199,444.00 $5,805,326.00 1998 $10,879,110.00 $2,175,822.00 $8,644.94 $0.00 (9) $435,164.40 $12,628,412.54 1999 $10,880,001.00 $2,176,000.20 $105,646.80 $0.00 (10) $435,200.04 $12,726,447.96 2000 $10,996,702.00 $2,199,340.40 $82,990.54 $0.00 (11) $439,868.08 $12,839,164.86 2001 $10,746,747.00 $2,149,349.40 $677.89 $0.00 (12) $429,869.88 $12,466,904.41 2002 $10,770,705.00 $2,154,141.00 $0.00 $26,000,000.00 (12,13) $430,828.20 $38,494,017.80 2003 $10,700,712.00 $2,140,142.40 (14) $428,028.48 $12,412,825.92 2004 $10,700,712.00 $2,140,142.40 (15) $428,028.48 $12,412,825.92 Totals $189,089,224.00 $37,817,844.80 $219,410.17 $26,000,000.00 $7,563,568.96 $245,562,910.01 Notes: 1 FY 1988 state match appropriated by the legislature from the Statewide Water Development Revolving Fund. - 7/30/88, H.B. 1571 2 FY 1989 state match appropriated by the legislature from the Statewide Water Development Revolving Fund. - 4/26/89, S.B. 51 3 FYs 1990 and 1991 state matches appropriated by the legislature from the Special Cash Fund. - 3/20/91, S.B. 144 4 $2,892,047 of FY 1992 state match appropriated by the legislature from the Constitutional Reserve Fund. - 5/28/93, S.B. 390; $200,000 in state match provided by Ute settlement - State of New Mexico and $47,501 in state match provided from OWRB grant account. 5 FY 1993 state match appropriated by the legislature from the Constitutional Reserve Fund. - 5/18/94, H.B. 2761 6 OVVRB issued its $1,950,000 SRF Program Notes, Series 1994 on October 25,1994. The Series 1994 Notes were paid from monies in the Debt Service Reserve Fund for the Board's 1985 State Loan Program Bonds. 7 OWRB issued its $4,050,000 CVVSRF Revenue Notes, Series 1996 on May 22,1996. The Series 1996 Notes were paid from investment and interest earnings on CVVSRF accounts and repayments on the Guymon and Ketchum State Loan Program Bond loans. $1,990,237 went toward meeting the FY 1995 state match and $2,018,545 toward the FY 1996 state match. 8 OWRB issued its $2,275,000 CVVSRF Revenue Notes, Series 1997 on June 26, 1997. The Series 1997 Notes were paid from investment and interest earnings on CVVSRF accounts and repayments on the Guymon and Ketchum State Loan Program Bond loans. $1,241,524 went toward meeting the FY 1996 state match and $1,018,670 toward the FY 1997 state match. 9 OWRB issued its $2,200,000 CVVSRF Revenue Notes, Series 1998 on June 25,1998. The Series 1998 Notes were paid from investment and interest earnings on CVVSRF accounts and repayments on the Guymon and Ketchum State Loan Program Bond loans. 10 OWRB issued its $2,300,000 CVv'SRF Revenue Notes, Series 1999 on February 15, 1999. The Series 1999 Notes were paid from investment and interest earnings on CVVSRF accounts and repayments on the Guymon and Ketchum State Loan Program Bond loans. 11 OWRB issued its $2,300,000 CVVSRF Revenue Notes, Series 2000 on June 22, 2000. The Series 2000 Notes were paid from investment and interest earnings on CVVSRF accounts and repayments on the Guymon and Ketchum State Loan Program Bond loans. 12 OWRB issued its $4,345,000 CVVSRF Revenue Notes, Series 2001 on April 11, 2001. The Series 2001 Notes were paid from investment and interest earnings on C'NSRF accounts. $2,149,349.40 went toward meeting the FY 2001 state match and $2,154,141.00 went toward meeting the FY 2002 state match. 13 OWRB issue it $28,890,000 CVv'SRF Interim Construction Loan Revenue Bonds, Series 2001, on August 15, 2001. The Series 2001 Bonds are to be paid from prinicipal and interest payments made on CVv'SRF loans made from bond proceeds. 14 NOT YET AVAILABLE. OWRB anticipates meeting its 2003 state match requirement through a future bond or note issuance. 15 NOT YET AVAILABLE. The FY 2004 Capitalization Grant Award amount is estimated. OWRB anticipates meeting its 2004 state match requirement through a future bond or note issuance. APPENDIX D Drinking Water SRF Funding Source History Historical Funding Sources Oklahoma Drinking Water State Revolving Fund As of January 31, 2004 Fiscal Federal Cap State Match Over Match Bond Issue Total Available Year Grant Amount Amount Amount Proceeds Notes Less Set-Asides For Assistance 1997 $17,561,900.00 $3,512,380.00 $0.00 $0.00 (1) $3,811,608.00 $17,262,672.00 1998 $10,224,200.00 $2,044,840.00 $0.00 $0.00 (2) $2,031,398.00 $10,237,642.00 1999 $10,716,000.00 $2,143,200.00 $0.00 $0.00 (3) $979,258.00 $11,879,942.00 2000 $11,137,000.00 $2,227,400.00 $386,227.30 $0.00 (4) $0.00 $13,750,627.30 2001 $11,183,000.00 $2,236,600.00 $0.00 $0.00 (4,5,6) $2,247,253.00 $11,172,347.00 2002 $12,446,500.00 $2,489,300.00 $0.00 $0.00 (6) $3,236,090.00 $11,699,710.00 2003 $12,371,700.00 $2,474,340.00 $0.00 $0.00 (6) $2,845,492.00 $12,000,548.00 2004 $12,371,700.00 $2,474,340.00 $325,420.00 $115,327,403.16 (6,7) $2,845,492.00 $127,653,371.16 Totals $98,012,000.00 $19,602,400.00 $711,647.30 $115,327,403.16 $17,996,591.00 $215,656,859.46 Notes: 1 $3,500,000 of FY 1997 state match appropriated by the legislature from the Constitutional Reserve Fund and $12,380 transferred from OWRB grant account. - 6/12/98, S.B. 965 2 $2,000,000 of FY 1998 state match appropriated by the legislature from the Constitutional Reserve Fund and $44,840 transferred from OWRB grant account. - 6/08/99, H.B. 1565 3 FY 1999 State match appropriated by the legislature from the gross production tax. - 6/09/00, H.B. 2272 4 OWRB issued its $4,480,000 DWSRF Revenue Notes, Series 2001 on April 11, 2001. The Series 2001 Notes were paid from investment and interest earnings on DWSRF accounts and repayments on the Guymon and Ketchum FAP Bond loans. $2,227,400 went toward meeting the FY 2000 state match and $2,236,600 toward the FY 2001 state match (see Note 5). 5 OWRB defeased the remaining Series 2001 Notes allocable to the FY 2001 state match requirement and provide the FY 2001 state match requirement through the Series 2003 DWSRF Bonds 6 OWRB issued its $122,910,000 Revolving Fund Revenue Bonds, Series 2003 (Master Trust) on October 29,2003. The Series 2003 DWSRF Bonds are paid from principal and interest repayments on pledged loans and investment income on accounts held in the trust estate. The Series 2003 DWSRF Bonds provided $10 million to meet the state match requirement for FY 2001,2002,2003, and 2004. The Series 2003 DWSRF Bonds also provided $115 million in additional funds for DWSRF loans. 7 The FY 2004 Capitalization Grant Award amount is estimated. APPENDIX E OWRB Financial Assistance Programs Approved and Funded Loans OWRB 02/05/2004 OKLAHOMA WATER RESOURCES BOARD LOAN PROGRAM APPLICATIONS APPROVED AND FUNDED INTEREST TYPE PAGE 1 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 1. RWD #2' ROGER MILLS WATER SYSTEM IMPROVEMENTS $165,000.00 F N 1985 01/14/1986 05/14/1986 2. GUYMON UA TEXAS SEWAGE TREATMENT SYSTEM $1,150,000.00 F N 1985 03/11/1986 08/28/1986 3. HEAVENER UA* LEFLORE WATER & SEWER SYSTEM $2,200,000.00 F N 1985 03/11/1986 04/14/1988 IMPROVEMENTS 4. KETCHUM PWA* CRAIG WATER STORAGE TANK $170,000.00 F N 1985 10/14/1986 04/30/1987 5. APACHE PWA* CADDO REFINANCE EXISTING DEBT ON $710,000.00 V R 1986A 01/13/1987 03/11/1987 WATER & SEWER SYSTEMS 6. MARIETTA PWA LOVE REFINANCE INTERIM FINANCING $550,000.00 V R 1986A 02/10/1987 OS/29/1987 FOR SEWAGE TREATMENT SYSTEM 7. RWD #11' OSAGE NEW WATER SUPPLY & $285,000.00 V N 1986A 02/10/1987 02/25/1988 DISTRIBUTION SYSTEM 8. KIOWA PWA* PITTSBURG WATER SUPPLY & TREATMENT PLANT $145,000.00 V R 1986A 04/14/1987 11/19/1987 IMPROVEMENTS I 9. MORRIS PWA OKMULGEE SEWAGE SYSTEM EXTENSION & $165,000.00 V R 19B6A 04/14/1987 OS/29/1987 IMPROVEMENTS 10. SALINA PWA' MAYES SEWAGE TREATMENT PLANT $50,000.00 V R 1986A 04/14/1987 12/29/1987 IMPROVEMENTS 11. RWD #1' LEFLORE REFINANCE SHORT-TERM WATER $95,000.00 V R 1986A 05/12/1987 06/14/1988 SYSTEM LOANS 12. SPENCER VA* OKLAHOMA UPGRADE & IMPROVE EXISTING $210,000.00 V R 1986A 06/09/1987 11/30/1987 SEWER SYSTEM INTEREST TYPE PAGE 2 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED U. WAKITA UA* GRANT REFINANCE EXISTING DEBT & $335,000.00 V N 1986A 06/09/1987 09/08/1988 COMPLETE WATER SYSTEM IMPROVEMENTS 14. CHELSEA EDA * ROGERS WATER & SEWER SYSTEM $500,000.00 V R 1986A 07/14/1987 12/01/1987 IMPROVEMENTS 15. RWD #4 * KAY PURCHASE WATER DISTRIBUTION $135,000.00 V R 1986A 07/14/1987 12/20/1988 SYSTEM FROM KAW WATER, INC. 16. LEEDEY PWA DEWEY REFINANCE EXISTING DEBT & $325,000.00 V N 1986A 08/11/1987 10/13/1987 REFURBISH WATER TOWER 17. WELEETKA PWA OKFUSKEE WATER TREATMENT PLANT $190,000.00 V R 1986A 08/11/1987 09/07/1988 IMPROVEMENTS 18. STERLING PWA*· COMANCHE REFINANCE EXISTING DEBT ON $115,000.00 V R 1986A 09/08/1987 04/29/1988 SEWER SYSTEM 19. LONE WOLF PWA KIOWA REFINANCE EXISTING DEBT ON $200,000.00 V R 1986A 10/13/1987 07/18/1989 WATER SYSTEM 20. CACHE PWA COMANCHE REFINANCE EXISTING DEBT ON $710,000.00 V R 1986A 11/10/1987 12/01/1987 WATER & SEWER SYSTEM 21. MORRISON PWA NOBLE REFINANCE EXISTING DEBT ON $320,000.00 V R 1986A 11/10/1987 07/27/1989 WATER SYSTEM & CONSTRUCT SEWAGE TREATMENT LAGOONS 22. YALE WATER & SEWAGE TRUST PAYNE REFINANCE EXISTING DEBT ON $820,000.00 V R 1986A 11/10/1987 06/09/1988 WATER SYSTEM 23. NICHOLS HILLS MA* OKLAHOMA WATER & SEWER SYSTEM $2,940,000.00 V R 1986A 01/12/1988 05/13/1988 IMPROVEMENTS 24. RWD #1* OSAGE REFINANCE FMHA LOAN & COMPLETE $190,000.00 V R 1986A 02/09/1988 07/07/1988 WATER SYSTEM IMPROVEMENTS INTEREST TYPE PAGE 3 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 25. RWD #3* KAY WATER SYSTEM IMPROVEMENTS $40,000.00 V R 1986A 03/08/1988 05/10/1988 26. FREEDOM MA WOODS CONSTRUCTION OF NEW WATER LINES $80,000.00 V R 1986A 04/12/1988 06/13/1988 27. SULPHUR MA* MURRAY RENOVATION OF EXISTING SEWAGE $725,000.00 V R 1986A 04/12/1988 OS/24/1989 TREATMENT PLANT 28. RW,S,G,& SWMD #4* WAGONER PURCHASE GREEN COUNTRY UTILITY $380,000.00 V R 1986A 07/12/1988 12/09/1988 CO 29. SAND SPRINGS MA* TULSA WATER TRANSMISSION LINE TO $11,405,000.00 V R 1986A 09/14/1988 01/26/1989 SKIATOOK LAKE 30. SAPULPA MA* CREEK WATER TRANSMISSION LINE TO $7,250,000.00 V R B86A 09/14/1988 01/26/1989 SKIATOOK LAKE 31. TALIHINA PWA LEFLORE WATER SYSTEM IMPROVEMENTS $605,000.00 V N 1986A 09/14/1988 03/01/1989 32. RWD #3 MAYES REFINANCE INTERIM LOAN $290,000.00 V R 1986A 10/11/1988 11/04/1988 33. RWD #6 MAYES REFINANCE INTERIM LOAN $500,000.00 V R 1986A 10/11/1988 11/04/1988 34. LEXINGTON PWA CLEVELAND WATER & SEWER SYSTEM $335,000.00 V R 1986A· 12/13/1988 02/13/1989 IMPROVEMENTS 35. RWD #1 (LONGTOWN) PITTSBURG REFINANCE EXISTING DEBT $560,000.00 V R 1986A 12/13/1988 12/20/1988 36. TEXHOMA PWA TEXAS REFINANCE DEBT & SEWER STSTEM $300,000.00 V R 1986A 12/13/1988 01/31/1989 .IMPROVEMENTS 37. GRANDFIELD PWA TILLMAN WATER TRANSMISSION LINE $115,000.00 V R 1986A 01/10/B89 07/18/1989 38. PORUM PWA MUSKOGEE REFINANCE EXISTING DEBT $730,000.00 V R 1986A 01/10/1989 02/13/1989 39. GERONIMO PWA COMANCHE REFINANCE FMHA LOANS $285,000.00 V R 1986A 02/14/1989 03/07/1989 40. PORTER PWA WAGONER REFINANCE FMHA LOANS $300,000.00 V R 1986A 02/14/1989 03/09/1989 INTEREST TYPE PAGE 4 FIXED(F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 41. PVIA LEFLORE REFINANCE FMHA DEBT & WATER $2,210,000.00 V R 1986A 02/14/1989 03/09/1989 SYSTEM IMPROVEMENTS 42. RWD #12* OSAGE NEW WATER DISTRIBUTION SYSTEM $45,000.00 V N 1986A 03/14/1989 07/24/1989 43. TUTTLE PWA * GRADY WATER TRANSMISSION LINE & $460,000.00 V R 1986A 03/14/B89 06/29/1989 SEWAGE LIFT STATION 44. RWD #1 GARVIN REFINANCE FMHA LOANS $445,000.00 V R 1986A 04/20/1989 07/28/1989 45. RWD #1 WOODWARD REFINANCE FMHA LOANS $235,000.00 V R 1986A 04/20/1989 05/05/1989 46. RWD #3 CUSTER REFINANCE FMHA LOANS $550,000.00 V R 1986A 04/20/1989 05/05/1989 47. RWD #5 LEFLORE REFINANCE FMHA LOANS $275,000.00 V R 1986A 04/20/1989 07/28/1989 48. WAURIKA PWA* JEFFERSON WATER & SEWER SYSTEM $1',700,000.00 V R 1986A 06/13/1989 07/31/1989 IMPROVEMENTS 49. DUKE MA JACKSON REFINANCE FMHA LOANS $200,000.00 V R 1989 09/12/1989 03/21/1990 50. LUGERT-ALTUS JACKSON IRRIGATION CHANNEL IMPROVEMENTS $1,400,000.00 F R 1989 09/12/1989 09/04/1990 5l. WARNER UA MUSKOGEE WATER INTAKE STRUCTURE $240,000.00 F R 1989 02/13/1990 07/02/1990 52. RWD #2 HUGHES REFINANCE INTERIM BANK LOANS $520,000.00 V R 1989 05/08/1990 06/20/1990 53. MOORE PWA* CLEVELAND WATER & SEWER IMPROVEMENTS $2,675,000.00 F R 1989 06/12/1990 06/05/1991 54. RINGLING MA JEFFERSON SEWER LINE CONSTRUCTION & $420,000.00 V R 1989 06/12/1990 12/28/1990 REFINANCE FMHA LOANS 55. FARGO UA ELLIS WATER & SEWER IMPROVEMENTS $125,000.00 V R 1989 07/16/1990 10/11/1990 56. NEWKIRK MA KAY SEWAGE LAGOON SYSTEM $915,000.00 V R 1989 07/16/1990 09/23/1990 57. RW,S,& SWMD #1 LOGAN WATER SYSTEM EXTENSION $155,000:00 V R 1989 07/16/1990 04/26/1991 INTEREST TYPE PAGE 5 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 58. TULSA MUA* TULSA WESTBANK INTERCEPTOR PROJECT $11,100,000.00 F CWSRF 07/16/1990 08/15/1990 59. VICI PWA* DEWEY SEWAGE LAGOON SYSTEM $190,000.00 V R 1989 07/16/1990 11/29/1990 60. MARIETTA PWA LOVE PURCHASE PROVATE WATER SYSTEM $285,000.00 V R 1989 08/14/1990 04/12/1992 & EXTEND WATER SERVICE 61. PITTSBURG COUNTY WA* PITTSBURG WATERLINE IMPROVEMENTS, NEW $1,055,000.00 V R 1989 08/14/1990 12/21/1990 CLARIFIER, AND REFINANCE EXISTING DEBT 62. RWD #2* OTTAWA WATER SYSTEM IMPROVEMENTS $215,000.00 V R 1989 08/14/1990 01/25/1991 63. RW,S,&SWMD #4 CANADIAN REFINANCE FMHA LOANS $450,000.00 V R 1989 09/12/1990 11/28/1990 64. WISTER PWA* LEFLORE REFINANCE EXISTING DEBT $165,000.00 V N 1989 09/12/1990 01/08/1991 65. CLEO SPRINGS PWA MAJOR CONSTRUCT TOTAL RETENTION $145,000.00 V R 1989 10/09/1990 01/30/1991 LAGOON SYSTEM, LIFT STATION, AND REFINANCE EXISTING DEBT 66. CACHE PWA COMANCHE SEWER LINE REPLACEMENT $105,000.00 V R 1989 12/11/1990 03/26/1991 67. HALL PARK MA* CLEVELAND WASTEWATER SYSTEM IMPROVEMENTS $180,000.00 V R 1989 01/08/1991 07/23/1991 68. ELGIN PWA COMANCHE SEWAGE LAGOON, WATER TOWER, $520,000.00 V R 1989 03/12/1991 09/06/1991 AND REF.INANCE EXISITNG DEBT 69. RWD #12 LEFLORE REFINANCE INTERIM BANK LOANS $200,000.00 V N 1989 03/12/1991 03/25/1991 70 ..TULSA MUA* TULSA SEWAGE TREATMENT PLANT $15,559,500.00 F CWSRF 03/12/1991 07/08/1991 EXPANSION 71. APACHE PWA CADDO REFINANCING $590,000.00 F R 1989 05/06/1991 06/05/1991 72. HARRAH PWA* OKLAHOMA WATER SYSTEM IMPROVEMENTS $1,150,000.00 F R 1989 05/06/1991 07/16/1991 INTEREST TYPE PAGE 6 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) .NONRATABLE (N)@ SERIES APPROVED FUNDED 73. ARAPAHO PWA CUSTER WATER STORAGE TANK $130,000.00 V R 1989 06/11/1991 11/26/1991 74. CALUMET PWA* CANADIAN INTERIM FINANCING FOR SEWER $345,000.00 V N 1989 06/11/1991 08/30/1991 PROJECT 75. POCOLA MA LEFLORE REFINANCING & SEWAGE TREATMENT $270,000.00 V R 1989 06/11/1991 06/28/1991 IMPROVEMENTS 76. RW,S,&SWMD #3 LOGAN REFINANCING & WATER SYSTEM $2,650,000.00 V R 1989 06/11/1991 06/28/1991 IMPROVEMENTS 77. DAVIS MA MURRAY SEWER SYSTEM IMPROVEMENTS $450,000.00 V R 1989 08/13/1991 09/25/1991 78. GARBER MA GARFIELD ROCK-REED FILTER SYSTEM, $145,000.00 F R 1989 08/13/1991 01/28/1992 DIKING & PIPING MODIFICATION 79. DEWEY PWA WASHINGTON WATER DISTRIUTION SYSTEM $255,000.00 V R 1989 09/10/1991 12/17/1991 IMPROVEMENTS 80. PONCA CITY UA* KAY WASTEWATER PLANT CONSTRUCTION $750,000.00 V R 1989 09/10/1991 09/25/1991 DESIGN 8l. NICHOLS HILLS MA OKLAHOMA REFINANCE 1988 OWRB LOAN $2,750,000.00 F R 1989 10/16/1991 12/03/1991 82. EL RENO MA* CANADIAN WATER LINE CONSTRUCTION $515,000.00 V R 1989 11/12/1991 12/17/1991 83. FAIRVIEW UA MAJOR WASTEWATER RETENTION LAGOONS $550,000.00 V R 1989 11/12/1991 04/15/1992 84. GUYMON UA* TEXAS SRF INTERIM CONSTRUCTION LOAN $300,000.00 F CWSRF 12/17/1991 12/20/1991 85. PAULS VALLEY MA GARVIN REFINANCE FMHA LOANS $7,335,000.00 F R !!I89 12/17/1991 01/28/1992 86. RWD #1 GARFIELD WATER SYSTEM IMPROVEMENTS & $270,000.00 V R 1989 12/17/1991 03/31/1992 NEW STORAGE TANKS 87. RWD #7 MAYES REFINANCE FMHA DEBT $420,000.00 F R 1989 12/17/1991 01/28/1992 INTEREST TYPE PAGE 7 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 88. BARTLESVILLE MA* WASHINGTON WATER TREATMENT PLANT $4,500,000.00 V R 1989 01/15/1992 02/20/1992 IMPROVEMENTS, PUMP STATION, DISTRIBUTION LINE, & TANK 89. MUSKOGEE MA* MUSKOGEE SEWER SYSTEM IMPROVEMENTS $11,553,000.00 F CWSRF 02/11/1992 OS/20/1992 90. RW,S,G,& SWMD #4 WAGONER WATER TREATMENT PLANT, INTAKE $6,000,000.00 F R 1989 02/11/1992 04/16/1992 FACILITY DISTRIBUTION SYSTEM & REFINANCING 91. WALTERS PWA COTTON WATER TREATMENT PLANT & $1,200,000.00 V R 1989 02/11/1992 04/29/1992 REFINANCING 92. GLENPOOL USA TULSA SEWER SYSTEM FACILITIES $230,000.00 V R 1989 03/10/1992 OS/22/1992 IMPROVEMENTS 93. NASH P\'/A GRANT WATER SYSTEM IMPROVEMENTS & $355,000.00 F N 1992 03/10/1992 12/16/1992 REFINANCE LOANS 94. RED OAK PWA LATIMER WATER TREATMENT PLANT, STORAGE $220,000.00 V N .1992 03/10/1992 05/05/1993 TANK, WATER LINES, & SEWAGE SYSTEM IMPROVEMENTS 9956.. BCEHAAVNEDRLERPWMAA+* BLEIANVCEORLN SREEWFEIRNANSCYISNTGEM FMIHMAPROLVOEAMNENTS $5,$673101,,050308..0903 FF N C1W98S9RF 0044//1144//11999922 0076//1142//11999922 I 97. MARIETTA PWA+* LOVE SRF INTERIM CONSTRUCTION LOAN $644,166.27 F CWSRF 04/14/1992 02/10/1993 98. DEWEY PWA* WASHINGTON SEWER SYSTEM IMPROVEMENTS $1,450,000.00 F CWSRF 06/09/1992 06/15/1992 99. GOLTRY PWA ALFALFA REFINANCE LOAN & REHAB STORAGE $115,000.00 V R 1989 06/09/1992 07/31/1992 TANK 100. INOLA PWA* ROGERS REFINANCE FMHA LOAN $130,000.00 F N 1992 06/09/1992 04/01/1993 INTEREST TYPE PAGE 8 I FIXED(F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 101. OKAY PWA WAGONER SEWER SYSTEM IMPROVEMENTS, $250,000.00 V N 1989 06/09/1992 07/14/1992 REFINANCEING EXISTING DEBT 102. OKEMAH UA OKFUSKEE REFINANCE FMHA/GECC $1,855,000.00 F R 1989 07/14/1992 09/01/1992 103. RWD #12 LEFLORE WATER STORAGE " DISTRIBUTION $80,000.00 V N 1992 07/14/1992 02/16/1993 SYSTEM 104. NICOMA PARK DA* OKLAHOMA CONSTRUCT SEWAGE COLLECTION $1,445,000.00 F CWSRF 08/11/1992 10/09/1992 SYSTEM 105. TALOGA PWA DEWEY WATER TREATMENT PLANT $280,000.00 F N 1992 08/11/1992 12/16/1992 IMPROVEMENTS 106. WYNONA MA OSAGE WASTEWATER TREATMENT $125,000.00 V N 1992 08/11/1992 12/04/1992 IMPROVEMENTS 107. ALTUS MA JACKSON DRAINAGE IMPROVEMENTS $1,725,00.0.00 F R 1992 09/15/1992 12/16/1992 108. CALERA PWA BRYAN WATER SYSTEM IMPROVEMENTS " $270,000.00 V N 1992 09/15/1992 11/13/1992 REFINANCE FMHA LOAN 109. PVIA* LEFLORE CONSTRUCTION OF A NEW 18 INCH $2,665,000.00 V R 1992 10/20/1992 11/13/1992 WATER LINE 11 O. TULSA MUA TULSA REFINANCE SRF INTERIM $4,298,579.67 F mSRF 10/20/1992 12/16/1992 .~ CONSTRUCTION LOAN 111. TULSA MUA* TULSA REFINANCE SRF INTERIM $7,300,000.00 F R 1992 10/20/1992 12/16/1992 CONSTRUCTION LOAN 112. CHOUTEAU PWA MAYES REFINANCE LOANS $150,000.00 F N 1992 11/17/1992 12/16/1992 113. OWASSO PWA TULSA SEWER AND WATER SYSTEM $4,600,000.00 B R 1992 11/17/1992 04/01/1993 IMPROVEMENTS INTEREST TYPE PAGE 9 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 114. RWD #3 ROGERS WATER SUPPLY LINE AND $1,600,000.00 V R 1992 11/17/1992 01/26/1993 APPURTENANCES 115. SKIATOOK PWA* TULSA/OSAGE WASTEWATER TREATMENT FACILITY $1,900,000.00 C R 1992 11/17/1992 12/03/1992 &. COLLECTION SYSTEM MODIFICATIONS 116. WAKITA UA GRANT REFINANCE $325,000.00 F N 1992 11/17/1992 12/16/1992 117. GUYMON UA TEXAS WATER SYSTEM IMPROVEMENTS $3,185,000.00 F R 1992 01/08/1993 08/11/1993 118. RWD #4* ROGERS WATER TREATMENT &. DISTRIBUTION $600,000.00 V R 1992 01/08/1993 04/05/1993 r SYSTEM IMPROVEMENTS 119. DUNCAN PUA* STEPHENS SEWER SYSTEM ENGINEERING $1,830,000.00 V R 1992 02/09/1993 03/24/1993 120. CHOCTAW UA OKLAHOMA WATER AND SEWER SYSTEM $605,000.00 V R 1992 03/09/1993 06/28/1993 IMPROVEMENTS 121. FORT GIBSON UA MUSKOGEE UPGRADE WATER TREATMENT SYSTEM $820,000.00 V R 1992 03/09/1993 06/14/1993 &. REFINANCE 122. GUYMON UA TEXAS REFINANCE SRP INTERIM $118,680.00 F CWSRF 03/09/1993 04/01/1993 CONSTRUCTION LOAN 123. GUYMON UA TEXAS REFINANCE SRP INTERIM $220,000.00 F R 1992 03/09/1993 04/01/1993 CONSTRUCTION LOAN 124. MUSKOGEE MA MUSKOGEE REFINANCE SRF INTERIM $2,141,969.36 F CWSRF 03/09/1993 04/01/1993 CONSTRUCTION LOAN 125. MUSKOGEE MA* MUSKOGEE REFINANCE SRP INTERIM $3,670,000.00 F R 1992 03/09/1993 04/01/1993 CONSTRUCTION LOAN 126. HENRYETTA MA OKMULGEE SEWAGE TREATMENT PLANT AND $1,350,000.00 V R 1992 04/13/1993 10/13/1993 WATER SYSTEM IMPROVEMENTS INTEREST TYPE PAGE 10 II FIXED(F} BLENDED(B} CONVERTED(C} RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N}@ SERIES APPROVED FUNDED 127. NORMAN UA* CLEVELAND SEWER SYSTEM IMPROVEMENTS $6,800,000.00 F CWSRF 04/13/1993 OS/24/1993 128. BETHANY-WARR ACRES PWA* OKLAHOMA SEWER SYSTEM IMPROVEMENTS $9,523,800.00 F CWSRF 05/11/1993 10/19/1993 129. BLACKWELL MA KAY WATER " SEWER SYSTEM $2,450,000.00 V R 1994A 05/11/1993 03/08/1995 IMPROVEMENTS 130. KREMLIN PWA GARFIELD REFINANCE DEBT,WATER,AND SEWER $175,000.00 V N 1994A 06/08/1993 04/06/1994 SYSTEM IMPROVEMENTS 131. TULSA MUA* TULSA WASTEWATER TREATMENT PLANT $2,250,000.00 V R 1992 06/08/1993 07/29/1993 IMPROVEMENTS 132. CALUMET PWA CANADIAN REFINANCE EXISTING DEBT " $645,000.00 F N 1994A 07/13/1993 04/15/1994 WATER SYSTEM IMPROVEMENTS 133. RED ROCK PWA NOBLE REFINANCE AN INTERIM LOAN &0 $130,000.00 V N 1992 07/13/1993 09/20/1993 SEWER SYSTEM IMPROVEMENTS 134. CHEYENNE UA ROGER MILLS WATER TREATMENT AND $850,000.00 V R 1992 08/03/1993 10/21/1993 DISTRIBUTION IMPROVEMENTS PLUS REFINANCING FrnHA DEBT 135. TULSA MUA* TULSA REFINANCE SRF INTERIM $10,380,000.00 V R 1992 08/03/1993 11/03/1993 CONSTRUCTION LOAN 136. TULSA MUA* TULSA 'REFINANCE SRF INTERIM $6,223,800.00 F CWSRF 08/03/1993 11/03/1993 CONSTRUCTION LOAN 137. WAYNE PWA MCCLAIN FLOW-THROUGH LAGOON SYSTEM $270,000.00 V N 1992 08/03/1993 10/15/1993 138. CANTON PWA BLAINE WATER SYSTEM IMPROVEMENTS $280,000.00 V N 1992 09/14/1993 11/19/1993 139. LANGSTON PWA LOGAN WATER TREATMENT PLANT $385,000.00 V N 1994A 09/14/1993 03/01/1994 140. PAOLI MA GARVIN SEWER LAGOON IMPROVEMENTS $120,000.00 'V N 1992 09/14/1993 11/21/1993 INTEREST TYPE PAGE 11 FIXED(F) BLENDED (B) CONVERTEO(C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 141. RWD #5* PITTSBURG WATER LINE EXTENSION $80,000.00 V N 1994A 09/14/1993 04/15/1994 142. VALLEY BROOK PWA* OKLAHOMA SEWER LAGOON REPAIRS $215,000.00 V N 1992 09/14/1993 10/04/1993 143. RW & SO #1· NOWATA REFINANCE FmHA·LOAN $215,000.00 V N 1994A 10/12/1993 01/17/1995 144. DUNCAN PUA* STEPHENS SEWER SYSTEM IMPROVEMENTS $9,400,000.00 F CWSRF 11/16/1993 12/14/1993 145. UNION CITY MA CANADIAN WATER SYSTEM IMPROVEMENTS $300,000.00 V N 1994A 11/16/1993 04/06/1994 146. RWD #1 CREEK CONSTRUCTION OF WATER $2,255,000.00 V R 1994A 01/11/1994 08/10/1994 TREATMENT PLANT, STORAGE TANK, AND WATER DISTRIBUTION LINES 147. GUTHRIE PWA* LOGAN WATER & SEWER SYSTEM $2,980,000.00 F R 1994A 02/08/1994 03/01/1994 IMPROVEMENTS 148. NEWCASTLE PWA* McCLAIN WATER SYSTEM IMPROVEMENTS $405,000.00 F R 1994A 02/08/1994 04/15/1994 149. PONCA CITY UA KAY WATER & SEWER SYSTEM $1,645,000.00 F R 1994A 02/08/1994 04/15/1994 IMPROVEMENTS 150. PONCA CITY UA* KAY SEWER SYSTEM IMPROVEMENTS $5,681,000.00 F CWSRF 02/08/1994 06/23/1994 151. HENRYETTA MA* OKMULGEE SEWER SYSTEM IMPROVEMENTS $4,765,000.00 F CWSRF 03/08/1994 12/09/1994 152. MARIETTA PWA LOVE REFINANCE SRF INTERIM $455,000.00 V N 1994A 03/08/1994 07/07/1994 CONSTRUCTION LOAN 153. MARIETTA PWA LOVE REFINANCE SRF INTERIM $257,666.51 F CWSRF 03/08/1994 07/07/1994 CONSTRUCTION LOAN 154. ALTUS MA* JACKSON IMPROVEMENTS TO THE SOUTHEAST $1,835,000.00 F R 1994A 04/12/1994 06/08/1994 SEWER TREATMENT PLANT AND I<- WATER LINES INTEREST TYPE PAGE 12 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 155. DEWEY PWA WASHINGTON REFINANCE SRF INTERIM $985,000.00 F R 1994A 04/12/1994 06/08/1994 CONSTRUCTION LOAN 156. DEWEY PWA WASHINGTON REFINANCE SRF INTERIM $570,929.01 F CWSRF 04/12/1994 06/08/1994 CONSTRUCTION LOAN 157. NICOMA PARK DA OKLAHOMA REFINANCE SRF INTERIM $568,960.29 F CWSRF 06/14/1994 08/15/1994 CONSTRUCTION LOAN 158. NICOMA PARK DA OKLAHOMA REFINANCE SRF INTERIM $875,000.00 V R 1994A 06/14/1994 08/15/1994 CONSTRUCTION LOAN 159. TULSA MUA* TULSA SOUTHSIDE WASTEWATER TREATMENT $20,994,611.00 F CWSRF 06/14/1994 10/27/1994 PLANT PROJECT 160. HALL PARK MA* CLEVELAND REPLACE WATER TANK $205,000.00 V N 1994A 07/12/1994 11/22/1994 161. MUSKOGEE MA MUSKOGEE REFINANCE SRF INTERIM $2,479,230.64 F CWSRF 07/12/1994 09/01/1994 CONSTRUCTION LOAN 162. MUSKOGEE MA* MUSKOGEE REFINANCE SRF INTERIM $4,390,000.00 F R 1994A 07/12/1994 09/01/1994 CONSTRUCTION LOAN 163. WELEETKA PWA OKFUSKEE REFINANCE EXISTING DEBT $300,000.00 V N 1994A 08/09/1994 11/10/1994 164. BROKEN ARROW MA TULSA WASTEWATER TREATMENT PLANT $3,185,000.00 V R 1994A 09/13/1994 03/06/1995 IMPROVEMENTS 165. WASHINGTON MA MCCLAIN WASTEWATER RETENTION LAGOONS $410,000.00 F CWSRF 09/13/1994 03/31/1995 166. RWD #7 NOWATA REFINANCE EXISTING DEBT ON $310,000.00 V N 1994A 10/11/1994 02/08/1995 WATER SYSTEM 167. PORUM PWA MUSKOGEE EXTENSION OF WATER LINES $350,000.00 V R 1994A 11/01/1994 12/27/1994 168. GUYMON UA* TEXAS IMPROVEMENTS TO WASTEWATER $4,775,000.00 V R 1994A 12/13/1994 12/14/1994 TREATMENT FACILITIES INTEREST TYPE PAGE 13 FIXED(F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 169. RWD #9 ROGERS REPLACE WATERLINE $150,000.00 V N 1994A 12/13/1994 08/02/1995 170. GOLDSBY WA MCCLAIN CONSTRUCT A NEW WATER $450,000.00 V N 1994A 02/14/1995 04/18/1995 TREATMENT PLANT AND APPURTENANCES 171. PONCA CITY UA KAY WATER SYSTEM IMPROVEMENTS $3,925,000.00 V R 1994A 02/14/1995 03/01/1995 172. SHAWNEE MA * POTTAWATOMIE WASTEWATER TREATMENT FACILITY $3,048,000.00 F CWSRF 02/14/1995 12/06/1995 IMPROVEMENTS 173. TONKAWA MA KAY WASTEWATER COLLECTION SYSTEM $350,000.00 V CWSRF 03/14/1995 09/01/1995 IMPROVEMENTS 174. LAWTON WA* COMANCHE SEWER SYSTEM EVALUATION SURVEY $5,540,000.00 V R 1994A 04/11/1995 05/10/1995 & ENGINEERING SERVICES 175. HARRAH PWA+ OKLAHOMA EXTEND SANITARY SEWER GRAVITY $1,379,564.34 F CWSRF 06/13/1995 07/31/1995 SYSTEM 176. ALEX MA GRADY SEWER SYSTEM IMPROVEMENTS $350,000.00 V N 1995 07/11/1995 03/29/1996 177. RUSH SPRINGS MIA GRADY REPLACEMENT OF STORAGE TANK & $320,000.00 V N 1994A 07/11/1995 12/27/1995 REPAIRS TO EXISTING STANDPIPE 178. BETHANY-WARR ACRES PWA OKLAHOMA REFINANCE SRF INTERIM $3,749,940.00 F CWSRF 09/12/1995 11/09/1995 CONSTRUCTION LOAN 179. BETHANY-WARR ACRES PWA OKLAHOMA REFINANCE SRF INTERIM $6,335,000.00 V R 1995 09/12/1995 11/09/1995 CONSTRUCTION LOAN 180. BROKEN ARROW MA* TULSA LYNN LANE STP PHASE lA $3,925,000.00 F CWSRF 09/12/1995 06/28/1996 181. KIEFER PWA CREEK ENGINEERING AND CONSTRUCTION $320,000.00 F CWSRF 09/12/1995 09/29/1995 OF PHASE I INTEREST TYPE PAGE 14 I FIXED (F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 182. DUNCAN PUA STEPHENS REFINANCE A PORTION OF SRF $4,025,000.00 V R 1995 10/10/1995 10/31/1995 INTERIM CONSTRUCTION NOTE 183. DUNCAN PUA STEPHENS REFINANCE A PORTION OF SRF $2,328,867.75 F CWSRF 10/10/1995 10/31/1995 INTERIM CONSTRUCTION NOTE 184. HOOKER MA* TEXAS CONSTRUCT A NEW WATER WELL AND $180,000.00 V N 1994A 10/10/1995 11/29/1995 APPURTENANCES 185. MARLOW MA STEPHENS SEWER SYSTEM IMPROVEMENTS $3,925,000.00 F CWSRF 10/10/1995 11/30/1995 186. WILBURTON PWA LATIMER REFINANCE EXISTING DEBT & $600,000.00 V N 1994A 10/10/1995 11/17/1995 IMPROVE WATER SYSTEM 187. GLENPOOL USA TULSA SEWER SYSTEM IMPROVEMENTS $3,751,300.00 F CWSRF 11/14/1995 02/09/1996 188. LOCUST GROVE PWA MAYES WASTEWATER TREATMENT $1,675,000.00 V N 1994A 11/14/1995 12/14/1995 IMPROVEMENTS & REFINANCE EXISTING DEBT 189. NORMAN UA CLEVELAND REFINANCE SRF INTERIM $2,720,000.00 F CWSRF 12/12/1995 12/21/1995 CONSTRUCTION LOAN 190. SKIATOOK PWA TULSA MAIN FLOW LINE TO TREATMENT $600,000.00 F CWSRF 12/12/1995 03/15/1996 FACITLITY & SEWER LINE EXTENSIONS 191. STILWELL ADA ADAIR WATER & SEWER SYSTEM $1,000,000.00 V R 1994A 12/12/1995 02/14/1996 IMPROVEMENTS 192. BEAVER PWA BEAVER REFINANCE SRF INTERIM $844,000.00 F CWSRF 01/09/1996 01/12/1996 CONSTRUCTION LOAN 193. RWD #13 CHEROKEE CONSTRUCT A STANDPIPE & $170,000.00 V N 1994A 01/09/1996 07/10/1996 REPLACE WATER MAINS INTEREST TYPE PAGE 15 FIXED(F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 194. RWD #5 ROGERS CONSTRUCT A NEW PUMP STATION $2,100,000.00 V R 1995 01/09/1996 02/29/1996 AND STORAGE FACILITY 195. FAIRFAX PWA OSAGE WASTEWATER TREATMENT PLANT $882,000.00 F CWSRF 03/19/1996 03/20/1996 IMPROVEMENTS & 1/1 CORRECTION 196. OWASSO PWA* TULSA EXPAND & UPGRADE EXISTING $1,520,000.00 F CWSRF 04/09/1996 12/20/1996 WASTEWATER TREATMENT FACILITY 197. COYLE PWA LOGAN REFINANCE EXISTING LOAN $340,000.00 V N 1994A 05/14/1996 07/03/1996 198. KREBS UA PITTSBURG SANITARY SEWER IMPROVEMENTS $605,000.00 V N 1995 05/14/1996 07/30/1996 ·1 199. PITTSBURG PWA PITTSBURG REFINANCE EXISTING LOAN $105,000.00 V CWSRF 05/14/1996 08/08/1996 200. PONCA CITY UA* KAY SEWER SYSTEM IMPROVEMENTS $18,680,000.00 F CWSRF 05/14/1996 06/28/1996 201. TULSA MUA * TULSA SANITARY SEWER IMPROVEMENTS $6,750,000.00 V R 1995 05/14/1996 06/28/1996 202. TULSA MUA * TULSA SANITARY SEWER SYSTEM $4,000,000.00 F CWSRF 05/14/1996 06/28/1996 IMPROVEMENTS 203. SALINA PWA MAYES NEW WATER TREATEMENT FACILITIES $1,700,000.00 V N 1995 06/11/1996 11/09/1996 204. HELENA PWA ALFALFA PSTUMOPRAGSETATLIAOGNOON, SEWER LINE & $440,000.00 F CWSRF 07/09/1996 09/26/1996 I 205. CUSHING MA* PAYNE NEW WATER TREATMENT PLANT, $7,155,000.00 V R 1995 08/13/1996 04/29/1997 STORAGE TOWER AND WATER WELLS 206. HAILEYVILLE PWA PITTSBURG STP CONSTRUCTION $419,000.00 F CWSRF 08/13/1996 10/08/1996 207. RUSH SPRINGS MIA GRADY SEWER SYSTEM IMPROVEMENTS $605,150.00 F CWSRF 08/13/1996 08/30/1996 208. RW,S,G & SWM #9 DELAWARE NEW WATER DISTRIBUTION SYSTEM $635,000.00 V N 1995 08/13/1996 09/12/1996 INTEREST TYPB PAGE 16 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) .NONRATABLE (N)@ SERIES APPROVED FUNDED 209. RWD #4 ROGERS UPGRADE AND EXPAND WATER $1,465,000.00 V R 1995 08/13/1996 12/31/1996 TREATMENT FACILITIES 210. TISHOMINGO MA JOHNSTON REFINANCE OUTSTANDING LOAN $535,000.00 V N 1995 09/10/1996 09/30/1996 211. BROKEN ARROW MA* TULSA PHASE II OF HAIKEY CREEK $2,820,000.00 F CWSRF 10/08/1996 11/01/1996 WASTEWATER TREATMENT PLANT 212. CHANDLER MA LINCOLN CONSTRUCT A SEQUENCING BATCH $2,695,000.00 F CWSRF 10/08/1996 11/20/1996 REACTOR WASTEWATER TREATMENT PLANT 213. ENID MA * GARFIELD NEW INTERCEPTOR AND RENOVATION $8,200,000.00 F CWSRF 10/08/1996 11/12/1996 OF LINES 214. HENRYETTA MA OKMULGEE REFINANCE SRF INTERIM $1,991,462.80 F CWSRF 10/08/1996 03/28/1997 CONSTRUcTION LOAN 215. RWD #2 WAGONER WATER SYSTEM IMPROVEMENTS $285,000.00 V N 1995 10/08/1996 03/26/1997 216. RWD #4 HUGHES EXTEND LINES TO CONNECT TO $200,000.00 V N 1995 10/08/1996 10/17/1997 HUGHES RWD #6 217. TULSA MUA TULSA REFINANCE A PORTION OF SRF $6,660,000.00 V R 1994A 11/19/1996 01/17/1997 I INTERIM CONSTRUCTION LOAN 218. TULSA MUA TULSA REFINANCE A PORTION OF SRF $4,035,000.00' F CWSRF 11/19/1996 01/17/1997 INTERIM CONSTRUCTION LOAN 219. TUTTLE PWA • GRADY INSTALLATION OF WATER MAINS $200,000.00 V R 1995 11/19/1996 02/28/1997 220. CHECOTAH PWA MCINTOSH CONTRUCT A CLEARWELL AND $655,000.00 V N 1995 12/10/1996 01/16/1997 REPLACE PUMPS 221. LOCUST GROVE PWA MAYES WASTEWATER TREATMENT PLANT $1,835,000.00 F CWSRF 12/10/1996 12/19/1996 IMPROVEMENTS INTEREST TYPE PAGE 17 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE{R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE{N)@ SERIES APPROVED FUNDED 222. PONCA CITY UA KAY REFINANCE SRF INTERIM $3,070,000.00 C R 1995 12/10/1996 03/12/1997 CONSTRUCTION LOAN 223. PONCA CITY UA KAY REFINANCE SRF INTERIM $1,784,449.06 F CWSRF 12/10/1996 03/12/1997 CONSTRUCTION LOAN 224 ..VINITA UA CRAIG REFURBISH THE WASTEWATER $1,900,000.00 F CWSRF 12/10/1996 01/10/1997 TREATMENT PLANT 225. INOLA PWA ROGERS REPAIR AND REHABILITATE THE $625,000.00 F CWSRF 01/14/1997 04/29/1997 .COLLECTION SYSTEM 226. MUSKOGEE MA* MUSKOGEE SEWER SYSTEM IMPROVEMENTS $14,112,000.00 F CWSRF 02/11/1997 06/04/1997 227. BEAVER PWA BEAVER ARBITRATION AWARD $376,673.77 F CWSRF 04/08/1997 OS/22/1997 228. HALL PARK MA* CLEVELAND SEWER TREATEMENT FACILITY $380,000.00 V N 1995 04/08/1997 05/08/1998 IMPROVEMENTS 229. ROLAND UA SEQUOYAH . RESERVOIR & WTP $4,890,000.00 V N 1995 04/08/1997 07/21/1997 230. WARNER UA MUSKOGEE IMPROVEMENTS TO WATER $435,000.00 V N 1995 04/08/1997 03/31/1998 TREATMENT FACILITIES 231. POTEAU PWA LEFLORE UPGRADE AND EXPAND WASTEWATER $2,335,000.00 F CWSRF 05/13/1997 07/22/1997 TREATMENT PLANT 232. RW, S, G&SWMD #3 CRAIG REFINANCE EXISTING INDEBTEDNESS $1,055,000.00 V N 1995 05/13/1997 06/06/1997 233. WOODWARD MA WOODWARD CONSTRUCT WATER SUPPLY LINE TO $345,000.00 V N 1995 05/13/1997 09/05/1997 FORT SUPPLY 234. SHAWNEE MA POTTAWATOMIE REFINANCE SRF INTERIM $1,073,278.84 F CWSRF 06/10/1997 09/02/1997 CONSTRUCTION LOAN 235. SHAWNEE MA POTTAWATOMIE REFINANCE SRF INTERIM $1,900,000.00 F R 1995 06/10/1997 09/02/1997 CONSTRUCTION LOAN INTEREST TYPE PAGE 18 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 236. GERONIMO PWA COMANCHE SEWER SYSTEM IMPROVEMENTS $395,000.00 F CWSRF 07/08/1997 09/10/1997 237. RWD #1 DELAWARE CONSTRUCTION OF STANDPIPES $360,000.00 V N 1995 07/08/1997 03/30/1998 238. RWD #1 MUSKOGEE WATER SYSTEM IMPROVEMENTS AND $430,000.00 V N 1995 08/12/1997 03/31/1998 REFINANCE EXISTING LOAN 239. BROKEN ARROW MA TULSA REFINANCE PORTION OF FAP LOAN $1,079,599.46 F CWSRF 09/09/1997 10/16/1997 240. CHOUTEAU PWA MAYES REFINANCE EXISTING $815,000.00 V N 1995 10/14/1997 04/29/1998 INDEBTEDNESS AND SEWER SYSTEM IMPROVEMENTS 241. BROKEN ARROW MA TULSA REFINANCE INTERIM SRF $2,805,000.00 V R 1997 11/04/1997 i2/22/1997 CONSTRUCTION LOAN FOR LYNN LANE IMPROVEMENTS 242. BROKEN ARROW MA TULSA REFINANCE INTERIM SRF $1,570,000.00 F CWSRF 11/04/1997 12/22/1997 CONSTRUCTION LOAN FOR LYNN LANE IMPROVEMENTS 243. RWD #2 MAYES UPGRADE WATER SUPPLY AND $825,000.00 V N 1995 11/04/1997 OS/21/1998 TREATMENT FACILITIES 244. RWD #3 ROGERS REFINANCE EXISTING INDEBTEDNESS $750,000.00 V R 1995 11/04/1997 01/09/1998 I 245. CHECOTAH PWA MCINTOSH SEQUENCING BATCH REACTOR SEWER $3,025,000.00 F CWSRF 12/09/1997 03/05/1998 SYSTEM 246. CONSOLIDATED RWD #1 NOWATA WATER SYSTEM IMPROVEMENTS $245,000.00 V N 1997 12/09/1997 10/30/1998 247. DUNCAN PUA STEPHENS REFINANCE INTERIM SRF $1,333,508.08 F CWSRF 12/09/1997 02/09/1998 CONSTRUCTION LOAN 248. DUNCAN FUA STEPHENS REFINANCE SRF INTERIM $2,315,000.00 V R 1997 12/09/1997 02/09/1998 CONSTRUCTION LOAN
Object Description
Description
Title | Statewide Water Dev pt1 |
OkDocs Class# | W1700.8 P966s 2004/05 |
Digital Format | PDF, Adobe Reader required |
ODL electronic copy | Deposited by agency in print; scanned by Oklahoma Department of Libraries 8/2011 |
Rights and Permissions | This Oklahoma state government publication is provided for educational purposes under U.S. copyright law. Other usage requires permission of copyright holders. |
Language | English |
Full text | W 1700.8 P966s 2004/05 c.1 THE STATEWIDE WATER DEVELOPMENT REVOLVING FUND FY 2005 PROPOSAL Submitted to the Second Session of The Forty-Ninth Oklahoma Legislature By the Oklahoma Water Resources Board February 2004 TABLE OF CONTENTS Executive Summary and Recommendations 1 SWDRF Purposes 2 Financial Assistance Programs 2 Sardis Reservoir Water Supply Storage Repayments 2 Proposed FY 2005 Program Description 3 Statewide Water Development Revolving Fund Summary 5 Appendix A - Program History and Accomplishments Appendix B - Sardis Reservoir Payment History Appendix C - Clean Water SRF Funding Source History Appendix D - Drinking Water SRF Funding Source History Appendix E - Approved and Funded Loans Appendix F - Approved and Funded Emergency Grants THE STATEWIDE WATER DEVELOPMENT REVOLVING FUND FY 2005 PROPOSAL EXECUTIVE SUMMARY AND RECOMMENDATIONS In order to develop a financial assistance program to provide water and wastewater infrastructure financing for Oklahoma communities, approximately $40 million has been contributed to the Statewide Water Development Revolving Fund that was established during the 1982 legislative session. These funds have been utilized for bond reserves, state matching funds, and to generate funds for emergency grants. This $40 million investment made by insightful State Leaders years ago has resulted in the following accomplishments: • Provided $1.35 billion in water and wastewater infrastructure financing in the form of low interest loans and grants. • Generated an asset base of nearly $350 million that continues to provide financial assistance for water and wastewater infrastructure projects in Oklahoma. • Reduced the total cost of financing water and wastewater projects by over $415 million. The following recommendations proposed in this report are actions that the Board believes are essential to perpetuating its financing strategy of providing the lowest possible cost of funding to Oklahoma communities for their water and wastewater infrastructure needs: • Appropriation of $1,074,123.69 for the annual payment for water supply storage costs at Sardis Reservoir. • A $6.5 million investment in an Update to the Oklahoma Comprehensive Water Plan to facilitate the most effective use of Oklahoma's water resources and focus financial assistance resources on the State's top priorities as identified in the plan. • An $118 million investment in the financial assistance programs of the OWRB which will generate a total of nearly $270 million in new assets and provide cost savings to Oklahoma communities totaling $186.9 million in the next six years alone. Demand for funding continues to outpace the sources for financial assistance. Oklahoma communities will need a total of nearly $2.0 billion in financing over the next six years. Without additional financial capital for the OWRB financial assistance programs, a $669 million dollar funding shortfall will occur that will cost Oklahoma communities an additional $186.9 million. Due to the increased costs, many Oklahoma communities may have difficulty in providing safe drinking water and adequate wastewater treatment for their citizens. SWDRF PURPOSES The various purposes for which the SWDRF may be used are set forth in Title 82, Oklahoma Statutes 2001 §1085.40, which reads in pertinent part as follows: 1. For the planning, and upon legislative authorization, acquisition of land, construction, operation and maintenance of multipurpose reservoirs and desalination facilities within the State of Oklahoma; 2. To provide for and pay the share, contribution, or portion of the cost the state shall pay for any legislative-approved, federally funded water project for bank stabilization, flood control, weather modification, hydroelectric power, water supply, irrigation, recreation, and other beneficial uses; and 3. To fulfill state contractual obligations upon legislative authorization and pursuant to approved repayment agreements with the federal government and incidental federally funded water supply storage projects. Furthermore, Title 82, Oklahoma Statutes 2001 §1085.44 authorizes the use of monies on deposit in the SWDRF as security and collateral for the investment certificates issued by the OWRB and directs the OWRB to manage and administer the SWDRF so as to maintain a balance adequate to sufficiently back any and all outstanding bond issues. Thus, the OWRB is assigned the responsibility of allocating the money in the SWDRF between expenditure and security/collateral purposes. FINANCIAL ASSISTANCE PROGRAMS The OWRB initiated its financial assistance programs in 1979. The first grants were made in 1983; the first loans made in 1986. Today, the OWRB administers three loan low interest programs: the State Loan Program, the Clean Water State Revolving Fund, and the Drinking Water State Revolving Fund; and two grant program: the Emergency Grant Program and the Rural Economic Action Plan Grant Program. The Statewide Water Development Revolving Fund (the "SWDRF") plays an integral role in allowing the OWRB to provide the financial assistance programs. Out of a total investment into the SWDRF of approximately $40 million, including an initial investment of $25 million in 1983, the OWRB has generated a permanent asset base totaling $350 million and has provided $1.35 billion in loans and grants for critical water and wastewater infrastructure projects all across the State. For a more detailed discussion of the OWRB's financial assistance programs, please see Appendix A. SARDIS RESERVOIR WATER SUPPLY STORAGE REPAYMENTS The SWDRF has also been utilized to make money available to fulfill cost-sharing requirements on federal water projects, construction of state water projects, and repayment of water supply storage contracts between the state and the federal government. These latter uses of the Fund are necessitated by declining federal participation and, subsequently, the growing responsibility of states in financing local water systems and major multi-purpose facilities. Sardis Reservoir, located in southeastern Oklahoma, southeast of McAlester near the Town of Clayton in the Kiamichi River basin, is the only reservoir meeting the criteria for this SWDRF purpose. In 1974, a predecessor to the Board, the Water Conservation Storage Commission, entered into a contract to repay storage cost, with annual payments on 'present use' storage to 2 begin after project completion. The contract was assumed by the OWRB in 1979 pursuant to legislative direction at Title 82, Oklahoma Statutes §1085.38. After the reservoir was completed in 1983, the OWRB made six annual payments (1983-1988) of approximately $500,000 each. Although requested in Statewide Water Development Revolving Fund annual reports such as this, the Legislature did not approve additional appropriations for the next seven annual payment (1989-1995) invoiced by the Corps of Engineers. The 1996 annual payment of $508,030 and the 1997 annual payment of $1,175,850 were appropriated from the "Rainy Day" Fund. A total of $4,415,640.83 has been paid to the Corps. In July 1998, the United States filed suit in federal court seeking enforcement of the 1974 contract and an order from the court to prohibit the state from denying its obligations under the 1974 contract. The Corps contends that approximately $15.8 million is due and owing on the 1974 contract including payments billed in 1998 - 2004 and late payment interest. See Appendix B for Sardis Reservoir payment information. PROPOSED FY 2005 PROGRAM DESCRIPTION The OWRB considers the items listed in the SWDRF spending proposal for FY 2005 to essential to perpetuating its financing strategy of providing the lowest possible cost of funding to Oklahoma communities for their water and wastewater infrastructure needs. These include: (1) the annual water supply storage repayment for Sardis Reservoir, (2) $6.5 million investment in the Comprehensive Water Plan, and (3) $118 million investment in the financial assistance programs of the OWRB. 1. Annual Water Supply Storage Repayment for Sardis Reservoir The scheduled FY 2005 annual payment for water supply storage costs at Sardis Reservoir is $1,074,123.69. Consideration should be given however, to the outright purchase of Sardis Reservoir from the Corps, as an asset of the state that would likely be far more valuable than its purchase price. Such a purchase price would need to be established based on negotiation with the Corps. 2. $6.5 Million Investment in the Comprehensive Water Plan In 1992, the State Legislature directed the OWRB to update the Oklahoma Comprehensive Water Plan every 10 years. The 1995 Update focused on obtaining water resource data, conducting supply and demand analyses through 2050, and water related issues and problems including water quality, water rights, water conservation, and water supply augmentation. The OWRB proposes that the 2005 Update be "regionally focused" identifying and implementing specific improvements and management strategies necessary to meet future water needs. This regional planning approach should be driven by local users; however sufficient funding and technical assistance must be provided from the state (through the OWRB) to develop each regional plan and identify projects for funding. The OWRB proposes a total investment of $6.5 million over the next three fiscal years to fund the planning process. 3. $118 Million Investment in the Financial Assistance Programs of the OWRB Through the year 2010, over $2.0 billion will be needed for water and wastewater infrastructure financing across Oklahoma, including over $1.6 billion in new projects. A total investment of $118 million in Oklahoma's financial assistance programs will allow the OWRB to be able to provide $1.63 billion in financing over the next six years while reducing 3 the costs of financing to Oklahoma communities by a total of $476.6 million. It will also build sufficient program assets to ensure that the OWRB positions itself to continue to provide sufficient low-cost funding levels for future water and wastewater financing needs. The $118 million investment will be used to benefit Oklahoma in the following manner: $83 million investment in the Drinking Water SRF • Access $75 million in future federal Drinking Water SRF capitalization grants by providing $15 million in state matching funds. • Provide a reserve fund capital infusion of $68 million to allow the OWRB to issue approximately $120 million in revenue bonds each year in order to finance the entire $720 million demand for new drinking water infrastructure financing over the next six years. • Save Oklahoma ratepayers an additional $105 million in project financing costs over the next six years. $20 million investment in the State Loan Program • Provide a reserve fund capital infusion of $20 million to allow the OWRB to issue approximately $50 million in State Loan Program revenue bonds each year in order to finance the entire $300 million demand for drinking water and wastewater infrastructure financing and refinancing over the next six years. • Provide $20 million in permanent assets that generate an estimated $4.8 million ($800,000 per year) in investment earnings over six years to fund Emergency Grants or to facilitate future Sardis Lake debt service payments. • Save Oklahoma ratepayers an additional $42.2 million in project financing costs over the next six years. $15 million investment in the Clean Water SRF • Access $75 million in future federal Clean Water SRF capitalization grants by providing $15 million in state matching funds. • Allow the OWRB to issue approximately $100 million in revenue bonds each year in order to finance the entire $600 million demand for new wastewater infrastructure financing over the next six years. 4 STATEWIDE WATER DEVELOPMENT REVOLVING FUND SUMMARY For the Period July 1, 1983 to December 31, 2003 Investment Activitv Revenues Earnings Expenditures Balance Revenues during period: - Initial Approp. - 7/1/83 $25,000,000.00 - Supplemental Approp. - FY91 4,314,313.00 - Rainy Day Fund - FY93 1,639,547.00 - Rainy Day Fund - FY94 4,358,209.00 - G.O. Bond Funds - FY94 5,000,000.00 - Proceeds from Ute Lawsuit - FY94 200,000.00 - Proceeds from Bond Sale - FY95 1,926,520.00 - Approp. (Sardis) - FY97 508,030.00 - Tar Creek Settlement and interest 94,137.69 - Approp. for Non-point Source Loans 3,500,000.00 Investment Earnings during period: <$20,242,754.97>* Expenditures during period: - Security for Bond Issues <$22,684,705.81 >** - Sardis Water Storage Contract <3,239,790.69> - Research Studies/Tar Creek <634,242.97> - Clean Water State Revolving Fund <16,387,879.53> Loan Account - Approp. for Non-point Source Loans <3,500,000.00> Reapproriated Totals $46,540,756.69 <$20,242,754.97>* <$46,446,619.00> $94,137.69 * This amount represents interest earnings on the SWDRF and escrowed funds which by law have been placed in the Water Resources Fund-Grant Account. ** A portion of this amount was used to repay a note issuance. The amount currently held as collateral for State Loan Program, CWSRF, and DWSRF note and bond issues that fund Financial Assistance Program water/wastewater loans for Oklahoma communities and rural water systems is $19,984,633.89. 5 CSo"C'iC::lc;noec 3." ::I: 5' e•-n.'•O.:l::l> o ~, "'C ~ !. "'C Oc::l.:.>l~em,nzC (>") e••n•.->< (o"):::Ol l> 3 g "e-2n'..".0',C ::Tcc 3 Sil e•~.n•.e3n OWRB FINANCIAL ASSISTANCE PROGRAMS PROGRAM HISTORY AND ACCOMPLISHMENTS The OWRB administers three loan programs and two grant programs that provide financial assistance to Oklahoma communities. The State Loan Program, the Clean Water State Revolving Fund Loan Program (the "Clean Water SRF"), and the Drinking Water State Revolving Fund Loan Program (the "Drinking Water SRF") provide low interest loans to eligible entities for water and wastewater infrastructure projects. The Emergency Grant Program and the Rural Economic Action Plan Grant Program (the "REAP Grant Program") provide grants for emergency and rural infrastructure projects. Passed in 1979, Senate Bill215 fashioned the basic structure of the OWRB's State Loan Program. This bill authorized the OWRB to issue revenue bonds and then make loans to Oklahoma communities for water system improvements and expansions. The original program contained a $1.5 million ceiling per project and was limited solely to water-related projects, such as impoundments, distribution lines, treatment plants and storage tanks. In 1980, the passage of HB 1710 amended the program by including sewage treatment plants as eligible projects and authorized the OWRB to issue grants of up to $50,000 per entity per fiscal year. The source of grant funding was intended to be legislative appropriations, however, no funding was provided and thus no grants were actually made. Senate Bill 145 (1982) contained several key provisions aimed at strengthening the state's capability to meet water project financing needs. The legislation addressed several legal and technical issues with the initial statutory language and removed the $1.5 million ceiling on each project, thereby allowing the OWRB to loan money for medium and large-sized projects. SB 145 also added sewer collection and distribution facilities as eligible projects and created the Statewide Water Development Revolving Fund (the "SWDRF"). The legislation provided that interest earnings on the SWDRF could be used to finance Emergency Grants of up to $100,000 to eligible entities. In view of the substantial budgetary surplus that year, a $25 million initial appropriation was made to the SWDRF. The Oklahoma Supreme Court ruled in 1984 that the use of the SWDRF as security and collateral for bond issues would violate the Oklahoma Constitutional provisions against assuming debts and loaning credit of the state. Therefore, State Question 581 was submitted to and approved by a vote of the people at a special statewide election held on August 28, 1984. State Question 581 amended the Oklahoma Constitution to include a new Section 39 of Article 10 authorizing the Financial Assistance Program without the Constitutional limits cited by the Supreme Court. STATE LOAN PROGRAM As authorized by Title 82 of the Oklahoma Statutes, Section 1085.31 et seq. (as amended), the State Loan Program provides low interest rate loans from revenue bond proceeds to eligible entities requesting financial assistance to construct water and/or sewer projects or to refinance existing indebtedness related to water or sewer systems. Borrowers pledge to loan repayment water and/or sewer system revenues or other forms of local revenues. Eligible entities include all political subdivisions of the state, special purpose districts, public trusts and rural water and sewer districts. How It Works The OWRB issues a series of revenue bonds. The bond proceeds are utilized to make loans to eligible entities. The loan repayments are collected by the OWRB's Trustee Bank and used to make principal and interest payments on the bonds and to pay various program costs, including liquidity facility providers, trustee bank fees, remarketing agent fees, and OWRB administrative costs. Loans can be made in a variable interest rate mode or a fixed interest rate mode for terms of up to thirty (30) years. The bonds are also secured by a combination of cash and surety policy reserve funds that would be available for bond debt service in the event loan repayment revenues are insufficient. The cash portion of the reserves are invested and the interest earnings are utilized to fund the OWRB's Emergency Grant Program. The OWRB's bond credit rating is based on the composite pool of all borrowers. The diversity of many large and small borrowers allows for a bond rating higher than any single community could achieve on its own. The State Loan Program is considered a "blind pool" bond program because the exact composition of the pool is unknown at the time the bonds are issued by the OWRB. With a "AA+" rating from Standard and Poor's Rating Services, the Oklahoma State Loan Program is the highest rated blind pool program of its kind in the nation. Several other states have utilized the Oklahoma State Loan Program as a model. See Figure One below. Figure One - Basic Model of State Loan Prn"r~m Loans ~: Eligible Entities I Cash OWRB State ~ Reserve Bond Security Loan Loan Repayments Funds ..................................... ~ Program •.. 1 Eligible Entities I Revenue ...• "'1 I Bonds I •....1 Eligible Entities I ...• I t Interest Eamings used for Emergency Grants Standard and Poor's Rating Services, in upgrading the credit rating of the State Loan Program to "AA+" from "AA" in June of 2003, cited strong reserve levels and continued solid management of the State Loan Program. Since 1985, the OWRB has issued over $716 million in revenue bonds through its State Loan Program and has never experienced a payment default on its local loans. As of January 31, 2004, the OWRB has approved 291 loans in the aggregate principal amount of $492,975,000 and funded 281 loans in the aggregate principal amount of $470,370,000.1 As of January 31, 2004, there are 217 loans outstanding with an aggregate principal balance of $282,409,999.96. The six-month variable interest rates are at all time lows of 1.67% to 1.80%. The variable interest rate has averaged approximately 4.438% since 1986. Fixed interest rate loans have assisted borrowers in locking in long-term debt service costs at lower interest rates because of the State Loan Program's pooled credit strength. Including loans projected to be made from the Series 2003A bond issue, use of the State Loan Program instead of issuing their own bonds has saved Oklahoma Communities an estimated $122.7 million in debt service savinqs". 1. See Appendix E for a list of approvedand funded loansthrough the financial assistanceprograms. 2. Savingsare calculatedbasedon a comparisonof the cost of funds through the applicableOWRB programand the cost of funds if the projectwere independentlyfinanced by the borrowers. Factors considered includecommunitycredit ratingsand length of financing. A-2 PROFILE: LEXINGTON PUBLIC WORKS AUTHORITY The Lexington Public Works Authority borrowed money from the State Loan Program in 1989 and 2002, in a total amount of $1.055 million. Lexington utilized the funds to make improvements to its wastewater collection and treatment facilities. The availability of the State Loan Program reduced the total project financing costs by approximately $428,000; these cost savings translate to savings for each of Lexington's approximately 850 customers of $1.88 per month. PROFILE: CREEK COUNTY RURAL WATER DISTRICT #1 In 1994, Creek County Rural Water District #1, which serves the Kellyville area, borrowed $2.255 million to construct a water treatment plant and make other improvements to the District's drinking water system. The variable rate loan through the State Loan Program has averaged 3.78% since origination and stands at 1.75% as of January 31, 2004. The availability of the State Loan Program will reduce the District's costs of financing by approximately $436,000 over the 15 year life of the loan. PROFILE: STILWELL AREA DEVELOPMENT AUTHORITY With three different loans, the Stilwell Area Development Authority has borrowed nearly $7.5 million from the State Loan Program and the Clean Water SRF since 1996 for several drinking water and wastewater system improvements. The availability of these two programs will save Stilwell approximately $2.1 million over the life of the three loans. The financial impact for Stilwell is a savings of $5.09 per customer every month in reduced financing costs. EMERGENCY GRANT PROGRAM The OWRB's Emergency Grant Program has been extremely effective in rescuing the state's small communities from financial crises posed by unforeseen disasters and imminent health hazards which could not have been prevented by the exercise of reasonable care by the applicant. In many instances, the grant program offers the only relief available to troubled communities and rural water systems. Since the program's inception in 1982, the OWRB has approved 504 Emergency Grants totaling over $29.5 million to cities, towns, schools and rural water districts. 3 Every one of these grants was funded at no additional cost to the State of Oklahoma. All emergency grants are funded by interest earnings from the State Loan Program reserve fund and interest earnings on other monies in the SWDRF. The availability of these Emergency Grants has saved Oklahoma Communities an estimated $54.4 million in total debt service versus if these projects had instead been funded through loans. The Emergency Grant program has directly stimulated economic development in the state by playing an instrumental role in the construction of over $155 million worth of water and wastewater projects. 3. See Appendix F for a list of approved and funded emergency grants through the financial assistance programs. A-3 CLEAN WATER SRF LOAN PROGRAM The Clean Water SRF Loan Program provides below market interest rate loans to eligible entities for wastewater infrastructure and other water quality projects. Title VI of the federal Clean Water Act, adopted in 1987, established a clean water (wastewater) state revolving fund (the federal "Clean Water State Revolving Fund") program. Under this program, each state is required to establish a revolving fund administered by the state or an instrumentality of the state in order to accept federal capitalization grants from the United States Environmental Protection Agency (the "EPA") for eligible publicly-owned water quality projects. In order to qualify for such federal capitalization grants, a state must pay into the revolving fund a matching amount (the "State Match") equal to at least 20% of the amount of such grants. The state water pollution control revolving funds are used to provide financial assistance to municipalities in connection with the construction, rehabilitation, expansion or improvement of publicly owned systems for the storage, treatment, recycling and reclamation of municipal sewage. Federal appropriations have continued to be made annually to states for funding wastewater treatment projects even though the Clean Water Act has expired by its terms and, as of this date, has not yet been reauthorized by Congress. Following enactment of the laws creating the federal Clean Water State Revolving Fund Program, legislation was adopted in the State in 1988 (HB 1914) establishing a complying program within the State. Title 82 of the Oklahoma Statutes, Section 1085.51 et seq. (as amended), established the Clean Water State Revolving Fund Loan Account within the State's Water Resources Fund to implement Title VI of the federal Clean Water Act. This legislation designates the OWRB as the state instrumentality to apply for and administer federal Clean Water State Revolving Fund capitalization grants that are available through the federal Clean Water Act. Projects which are eligible to be financed through the Clean Water SRF Program are generally limited to wastewater system improvements or other water pollution control projects and refinancing debt incurred for qualified wastewater system improvements. Through and including the fiscal year 2004, the OWRB has made or will make available from proceeds of capitalization grants and State Match approximately $227 million in Clean Water SRF program assets to eligible entities for wastewater infrastructure improvements. In addition, on August 15, 2001, the OWRB made available $26 million in leveraged funds for Clean Water SRF interim construction loans to large communities from proceeds of its "AA" rated $28.89 million Clean Water State Revolving Fund Interim Construction Loan Revenue Bonds, Series 2001. State Match funds were provided through various appropriative mechanisms through 1993; beginning in 1994 through present date the OWRB has issued short-term revenue notes to fund the State Match requirement. The revenue notes were repaid from Clean Water SRF loan interest income and investment earnings. See Appendix C for a summary of the historical funding sources for the Clean Water SRF Program. How It Works The OWRB receives federal capitalization grants, state matching funds, loan repayments, and any bond issue proceeds to make loans to eligible entities at an interest rate approximately .equal to 60% of the prevailing market interest rate for a term of up to twenty (20) years following completion of construction. As principal and interest on each loan is repaid, the proceeds are "revolved" or re-loaned to new borrowers. The OWRB has historically utilized a dual funding strategy for eligible borrowers. "Large Communities" of over 10,000 population have received interim construction loans at a low fixed interest rate. Upon completion of construction, the borrower would refinance the loan with a loan from the State Loan Program and an interest-free loan from the Clean Water SRF. The resulting blend of interest rates equaled approximately 60% of the prevailing market interest rates, and allowed large communities the flexibility to choose either variable or fixed interest loans from the A-4 State Loan Program, while quickly returning funds to the Clean Water SRF so more funds would be available for new projects. "Small Communities" of less than 10,000 population receive a single long-term loan at a fixed or variable rate equal to 60% of the prevailing market interest rates. See Figure Two below. Figure Two - Basic Model of Clean Water SRF Loan Program Loans ••.1 Eligible Entities I .~ OWRB ~ •.., ~ Loan Repayments , Clean WaterSRF ~ ••....,, Eligible Entities I Loan ....• , .~ Program •.., ...• •.., Eligible Entities I ....• I EPA Cap . Grants As of January 31,2004, the OWRB has approved 151 Clean Water SRF loans in the aggregate principal amount of $501,828,716.99 and funded 145 loans in the aggregate principal amount of $495,145,936.19.4 As of January 31,2004, there are 115 Clean Water SRF loans outstanding with an aggregate principal balance of $168,633,890.11. Since program inception, the average fixed interest rate for Clean Water SRF Loans has been approximately 2.78%. Use of the Clean Water SRF program instead of issuing their own bonds has saved Oklahoma Communities an estimated $123.2 million in debt service savings. PROFILE: STILLWATER UTILITIES AUTHORITY In 2001, the Stillwater Utilities Authority obtained a $20.3 miliion .C..lean Water SRF interim construction loan to make substantial upgrades and 'additions to their wastewater treatment capacity. Stillwategalsq obtained an $8.5 million Drinking Water SRF interim construction loan in 2000 to upgrade its drinking water treatment facilities. Upon final refinancings of both projects (utllizinq'the State Loan Program blended with zero interest SRF loans) the Stillwater Utilities Authority will have locked in over $16 million in debt service savings for the Authority's nearly 13,000 customers. This equates to approximately $2.96 in savings every month for each customer; without the Clean Water SRFi and Drinking Water SRF, Stillwater customers would have had to pay approximately $35.52 more on their water and sewer bills every yearfor 20 years to pay the additional $16 million cost offinancing the projects. PROFILE: SULPHUR MUNICIPAL AUTHORITY The Sulphur Municipal Authority recently completed a project to re'placesewer lines in and around the city funded with a $1 million Cleal) Water SRF loan. The use of the Clean Water SRF saved the Authority approximately $727,000 in project financing costs. Each of Sulphur's 2,30q customers would have to pay $1.19 per month more for 20 years to complete the project had the Clean Water SRF not been available. . " State Match Funds 4. See Appendix E for a list of approved and funded loans through the financial assistance programs. A-5 PROFILE: TULSA METROPOLITAN UTILITY AUTHORITY The Tulsa Metropolitan Utility Authority has been a consistent borrower throug/1 the OWRB's Clean Water SRF and State Loan Programs. Since 1990, tne OWRB has made 29 loans to Tulsa totaling over $228 million; the OWRB anticipates closing'!an additional $32 million in February 2004. Under the Clean Water SRE program alone, Tulsa has funded over $118million in new ccmstru2tion. The nets~yings for Tulsa are now approaching $50 mfllion. " . DRINKING WATER SRF LOAN PROGRAM The Drinking Water SRF Loan Program provides below market interest rate loans to eligible entities for drinking water infrastructure projects. Amendments to the federal Safe Drinking Water Act effective in 1996 established a safe drinking water revolving fund (the federal "Safe Drinking Water State Revolving Fund") program. Under this program, each state is required to establish a revolving fund administered by the state or an instrumentality of the state in order to accept EPA federal capitalization grants for eligible drinking water projects. In order to qualify for such federal capitalization grants, a state must pay into the revolving fund a matching amount (also "State Match") equal to at least 20% of the amount of such grants. State drinking water revolving fund loans serve to protect the public health and to achieve compliance with the federal Safe Drinking Water Act. The state drinking water revolving funds are used to provide financial assistance to publicly owned or privately owned water systems in connection with the planning, design, development, construction, repair, extension, improvement, remodeling, alteration, rehabilitation, reconstruction or acquisition of all or a portion of a public water system. Following enactment of the laws creating the federal Safe Drinking Water State Revolving Fund program, legislation was adopted in the State in 1994 (HB 2426) establishing a complying program within the State. Title 82 of the Oklahoma Statutes, Section 1085.71 et seq. (as amended), established the Drinking Water Treatment Revolving Loan Account within the State's Water Resources Fund to implement the 1996 amendments to the federal Safe Drinking Water Act. This legislation designates the duties of the Oklahoma Water Resources Board and the Oklahoma Department of Environmental Quality ("DEQ") with respect to this program. Each year, the OWRB and the DEQ enter into an Inter-Agency Agreement setting forth the duties and roles of each agency with respect to the program. Projects which are eligible to be financed through the Drinking Water SRF Program are generally limited to drinking water system improvements and refinancing debt incurred for qualified public drinking water system improvements. Through and including the fiscal year 2004, the OWRB has made or will make available from proceeds of capitalization grants and State Match approximately $100 million in Drinking Water SRF program assets to eligible entities for drinking water infrastructure improvements. In addition, on October 29,2003, the OWRB made available over $115 million in leveraged funds and $10 million in State Match funds for Drinking Water SRF loans from proceeds of its "AAA" rated $122.91 million Revolving Fund Revenue Bonds, Series 2003 (Master Trust). State Match funds were provided through various appropriative mechanisms from 1997 to 1999; and the OWRB utilized short term revenue notes (repaid from Drinking Water SRF interest income and investment earnings) to provide the 2000 State Match. The 2001 through 2004 State Match funds were provided through the Master Trust bond issue. See Appendix D for a summary of the historical funding sources for the Drinking Water SRF Program. How It Works The OWRB receives federal capitalization grants, state matching funds, loan repayments, and any bond issue proceeds to make loans to eligible entities at an interest rate approximately equal to A-6 70% of the prevailing market interest rate on its Master Trust bond issue for a term of up to twenty (20) years following completion of construction. Until the issuance of its Master Trust bonds, the OWRB has historically utilized the same dual funding strategy as used by the Clean Water SRF. However, due to demand for loans far outpacing the availability of capitalization grant and State Match funds, the OWRB has "leveraged" its Drinking Water SRF program by issuing bonds secured by loan repayments and a large reserve fund comprised of various program assets including capitalization grant funds. The bonds are issued at market rate, but the earnings from the reserve fund allow the OWRB to make loans below market rate. The reserve fund earnings effectively subsidize the interest rate for each borrower. As the bonds are retired, a portion of the reserve fund and any excess loan repayments are released out of the bond trust estate back to the Drinking Water SRF where they can be used for new loans or be pledged as reserve to future bond issues. All loans are now made as fixed interest rate loans for approximately 20 years. As of January 31, 2004, the established interest rate is 3.0%, effective until all proceeds of the 2003 Master Trust bonds are obligated. A new interest rate will be established at the time of a new bond issuance. See Figure Three below. Figure Three - Basic Model of Leveraged Drinking Water SRF Loan Program EPA Loans I OWRB Bond Revolving "'1 Eligible Entities I Cap ......~ Security ...• Drinking ......................... ~ Fund ....• Grants Loan Repayments I Water Revenue ~lEligible Entities I SRF Bonds ...• Loan (Master ....• State Match ......~ Program 1'1II:....................... Trust) Released •..: Eligible Entities I Funds ...• Funds As of January 31,2004, the OWRB has approved 36 Drinking Water SRF loans in the aggregate principal amount of $136,113,599.74 and funded 29 loans in the aggregate principal amount of $77,569,428.14.5 As of January 31,2004, there are 25 Drinking Water SRF loans outstanding with an aggregate principal balance of $40,213,587.68. Including loans projected to be made from the 2003 Master Trust bond issue, use of the Drinking Water SRF program instead of issuing their own bonds has saved Oklahoma Communities an estimated $53.8 million in debt service savings. PROFILE: BARTLESVILLE MUNICIPAL AUTHORI1BY The OWRB recently approved the largest loan in its history for $45.5 million to the Bartlesville Municipal Authority. The Drinking Water SRF loan will bear a fixed interest rate of 3.0% for the 20 year life of the loan and will finance a new 26 million" gallon per day drinking water treatment plant that will ultimately serve the City of Bartlesville and numerous surrounding communities including Dewey, Ramona, Ochelata, and rural water districts in Washington and Osage Counties. Not only will the use of the Drinking Water SRF save the City and surrounding communities over $13 million in finance costs, but the regional treatment plant will result in much higher quality drinking water at much lower costs than' many of the surrounding communities could afford on their own. w!'J;uiiin;ilii1i: 5. See Appendix E for a list of approved and funded loans through the financial assistance programs. A-7 PROFILE: DUNCAN PUBLIC UTILITIES AUTHORITY The Duncan Public Utilities Authority has financed over $20 million in construction improvements to its wastewater treatment and collection system through the State Loan Program and the Clean Water SRF. Use of the OWRB's financial assistance programs has already reduced the total financing costs for Duncan ratepayers by $4.6 million, a savings of $1.62 per customer every month. Now, in order to meet new regulations for drinking water quality related to turbidity and tri-halomethanes, Duncan has turned to the Drinking Water SRF. The $10 million Duncan has requested for FY 2005 will reduce the total financing costs by approximately $3.2 million; this will result in additional savings to Duncan ratepayers of $1.16 per customer every month. REAP GRANT PROGRAM In 1996, the Oklahoma Legislature initiated the REAP Grant Program. The OWRB's REAP Grant Program has been extremely effective in providing funds for water and wastewater projects in the state's small rural communities by awarding grants up to $150,000. The program has been funded with annual appropriations made available by the Legislature. Since the program's inception in 1997, the OWRB has approved 387 REAP Grants totaling $33.5 million to cities, towns, schools and rural water districts. The availability of these REAP Grants has saved Oklahoma Communities an estimated $61.7 million in total debt service versus if these projects had instead been funded through loans. The REAP Grant program has directly stimulated economic development in the state by playing an instrumental role in the construction of over $60 million worth of water and wastewater projects. A-8 APPENDIX 8 Sardis Reservoir Payment History SARDIS RESERVOIR UNPAID INVOICES Payment # Period Amount Invoiced 7 1/7/89-1/6/90 $458,633.44 8 1/7/90-1/6/91 $464,568.99 9 1/7/91-1/6/92 $479,965.60 10 1/7/92 -1/6/93 $480,731.24 11 1/7/93-1/6/94 $472,842.47 12 1/7/94-1/6/95 $540,891.30 13 1/7/95-1/6/96 $512,847.28 16 1/7/98-1/6/99 $1,130,015.63 17 1/7/97 -1/6/00 $1,058,040.93 18 1/7/00-1/6/01 $1,056,131.99 19 1/7/01-1/6/02 $1,079,119.62 20 1/7/02-1/6/03 $1,084,205.71 21 1/7/03-1/6/04 $1,074,123.69 Historical Funding Sources Oklahoma Clean Water State Revolving Fund As of January 31, 2004 Fiscal Federal Cap Grant State Match Bond Issue Less 4% Total Available For Year Amount Amount Over Match Amount Proceeds Notes Administration Assistance 1988 $9,278,000.00 $1,855,600.00 $0.00 $0.00 (1) $371,120.00 $10,762,480.00 1989 $7,597,400.00 $1,519,480.00 $0.00 $0.00 (2) $303,896.00 $8,812,984.00 1990 $7,862,000.00 $1,572,400.00 $0.00 $0.00 (3) $314,480.00 $9,119,920.00 1991 $16,580,619.00 $3,316,123.80 $0.20 $0.00 (3) $663,224.76 $19,233,518.24 1992 $15,697,737.00 $3,139,547.40 $0.60 $0.00 (4) $627,909.48 $18,209,375.52 1993 $15,528,546.00 $3,105,709.20 -$0.20 $0.00 (5) $621,141.84 $18,013,113.16 1994 $9,632,600.00 $1,926,520.00 $0.00 $0.00 (6) $385,304.00 $11,173,816.00 1995 $9,951,183.00 $1,990,236.60 $0.40 $0.00 (7) $398,047.32 $11,543,372.68 1996 $16,300,350.00 $3,260,070.00 -$1.00 $0.00 (7,8) $652,014.00 $18,908,405.00 1997 $4,986,100.00 $997,220.00 $21,450.00 $0.00 (8) $199,444.00 $5,805,326.00 1998 $10,879,110.00 $2,175,822.00 $8,644.94 $0.00 (9) $435,164.40 $12,628,412.54 1999 $10,880,001.00 $2,176,000.20 $105,646.80 $0.00 (10) $435,200.04 $12,726,447.96 2000 $10,996,702.00 $2,199,340.40 $82,990.54 $0.00 (11) $439,868.08 $12,839,164.86 2001 $10,746,747.00 $2,149,349.40 $677.89 $0.00 (12) $429,869.88 $12,466,904.41 2002 $10,770,705.00 $2,154,141.00 $0.00 $26,000,000.00 (12,13) $430,828.20 $38,494,017.80 2003 $10,700,712.00 $2,140,142.40 (14) $428,028.48 $12,412,825.92 2004 $10,700,712.00 $2,140,142.40 (15) $428,028.48 $12,412,825.92 Totals $189,089,224.00 $37,817,844.80 $219,410.17 $26,000,000.00 $7,563,568.96 $245,562,910.01 Notes: 1 FY 1988 state match appropriated by the legislature from the Statewide Water Development Revolving Fund. - 7/30/88, H.B. 1571 2 FY 1989 state match appropriated by the legislature from the Statewide Water Development Revolving Fund. - 4/26/89, S.B. 51 3 FYs 1990 and 1991 state matches appropriated by the legislature from the Special Cash Fund. - 3/20/91, S.B. 144 4 $2,892,047 of FY 1992 state match appropriated by the legislature from the Constitutional Reserve Fund. - 5/28/93, S.B. 390; $200,000 in state match provided by Ute settlement - State of New Mexico and $47,501 in state match provided from OWRB grant account. 5 FY 1993 state match appropriated by the legislature from the Constitutional Reserve Fund. - 5/18/94, H.B. 2761 6 OVVRB issued its $1,950,000 SRF Program Notes, Series 1994 on October 25,1994. The Series 1994 Notes were paid from monies in the Debt Service Reserve Fund for the Board's 1985 State Loan Program Bonds. 7 OWRB issued its $4,050,000 CVVSRF Revenue Notes, Series 1996 on May 22,1996. The Series 1996 Notes were paid from investment and interest earnings on CVVSRF accounts and repayments on the Guymon and Ketchum State Loan Program Bond loans. $1,990,237 went toward meeting the FY 1995 state match and $2,018,545 toward the FY 1996 state match. 8 OWRB issued its $2,275,000 CVVSRF Revenue Notes, Series 1997 on June 26, 1997. The Series 1997 Notes were paid from investment and interest earnings on CVVSRF accounts and repayments on the Guymon and Ketchum State Loan Program Bond loans. $1,241,524 went toward meeting the FY 1996 state match and $1,018,670 toward the FY 1997 state match. 9 OWRB issued its $2,200,000 CVVSRF Revenue Notes, Series 1998 on June 25,1998. The Series 1998 Notes were paid from investment and interest earnings on CVVSRF accounts and repayments on the Guymon and Ketchum State Loan Program Bond loans. 10 OWRB issued its $2,300,000 CVv'SRF Revenue Notes, Series 1999 on February 15, 1999. The Series 1999 Notes were paid from investment and interest earnings on CVVSRF accounts and repayments on the Guymon and Ketchum State Loan Program Bond loans. 11 OWRB issued its $2,300,000 CVVSRF Revenue Notes, Series 2000 on June 22, 2000. The Series 2000 Notes were paid from investment and interest earnings on CVVSRF accounts and repayments on the Guymon and Ketchum State Loan Program Bond loans. 12 OWRB issued its $4,345,000 CVVSRF Revenue Notes, Series 2001 on April 11, 2001. The Series 2001 Notes were paid from investment and interest earnings on C'NSRF accounts. $2,149,349.40 went toward meeting the FY 2001 state match and $2,154,141.00 went toward meeting the FY 2002 state match. 13 OWRB issue it $28,890,000 CVv'SRF Interim Construction Loan Revenue Bonds, Series 2001, on August 15, 2001. The Series 2001 Bonds are to be paid from prinicipal and interest payments made on CVv'SRF loans made from bond proceeds. 14 NOT YET AVAILABLE. OWRB anticipates meeting its 2003 state match requirement through a future bond or note issuance. 15 NOT YET AVAILABLE. The FY 2004 Capitalization Grant Award amount is estimated. OWRB anticipates meeting its 2004 state match requirement through a future bond or note issuance. APPENDIX D Drinking Water SRF Funding Source History Historical Funding Sources Oklahoma Drinking Water State Revolving Fund As of January 31, 2004 Fiscal Federal Cap State Match Over Match Bond Issue Total Available Year Grant Amount Amount Amount Proceeds Notes Less Set-Asides For Assistance 1997 $17,561,900.00 $3,512,380.00 $0.00 $0.00 (1) $3,811,608.00 $17,262,672.00 1998 $10,224,200.00 $2,044,840.00 $0.00 $0.00 (2) $2,031,398.00 $10,237,642.00 1999 $10,716,000.00 $2,143,200.00 $0.00 $0.00 (3) $979,258.00 $11,879,942.00 2000 $11,137,000.00 $2,227,400.00 $386,227.30 $0.00 (4) $0.00 $13,750,627.30 2001 $11,183,000.00 $2,236,600.00 $0.00 $0.00 (4,5,6) $2,247,253.00 $11,172,347.00 2002 $12,446,500.00 $2,489,300.00 $0.00 $0.00 (6) $3,236,090.00 $11,699,710.00 2003 $12,371,700.00 $2,474,340.00 $0.00 $0.00 (6) $2,845,492.00 $12,000,548.00 2004 $12,371,700.00 $2,474,340.00 $325,420.00 $115,327,403.16 (6,7) $2,845,492.00 $127,653,371.16 Totals $98,012,000.00 $19,602,400.00 $711,647.30 $115,327,403.16 $17,996,591.00 $215,656,859.46 Notes: 1 $3,500,000 of FY 1997 state match appropriated by the legislature from the Constitutional Reserve Fund and $12,380 transferred from OWRB grant account. - 6/12/98, S.B. 965 2 $2,000,000 of FY 1998 state match appropriated by the legislature from the Constitutional Reserve Fund and $44,840 transferred from OWRB grant account. - 6/08/99, H.B. 1565 3 FY 1999 State match appropriated by the legislature from the gross production tax. - 6/09/00, H.B. 2272 4 OWRB issued its $4,480,000 DWSRF Revenue Notes, Series 2001 on April 11, 2001. The Series 2001 Notes were paid from investment and interest earnings on DWSRF accounts and repayments on the Guymon and Ketchum FAP Bond loans. $2,227,400 went toward meeting the FY 2000 state match and $2,236,600 toward the FY 2001 state match (see Note 5). 5 OWRB defeased the remaining Series 2001 Notes allocable to the FY 2001 state match requirement and provide the FY 2001 state match requirement through the Series 2003 DWSRF Bonds 6 OWRB issued its $122,910,000 Revolving Fund Revenue Bonds, Series 2003 (Master Trust) on October 29,2003. The Series 2003 DWSRF Bonds are paid from principal and interest repayments on pledged loans and investment income on accounts held in the trust estate. The Series 2003 DWSRF Bonds provided $10 million to meet the state match requirement for FY 2001,2002,2003, and 2004. The Series 2003 DWSRF Bonds also provided $115 million in additional funds for DWSRF loans. 7 The FY 2004 Capitalization Grant Award amount is estimated. APPENDIX E OWRB Financial Assistance Programs Approved and Funded Loans OWRB 02/05/2004 OKLAHOMA WATER RESOURCES BOARD LOAN PROGRAM APPLICATIONS APPROVED AND FUNDED INTEREST TYPE PAGE 1 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 1. RWD #2' ROGER MILLS WATER SYSTEM IMPROVEMENTS $165,000.00 F N 1985 01/14/1986 05/14/1986 2. GUYMON UA TEXAS SEWAGE TREATMENT SYSTEM $1,150,000.00 F N 1985 03/11/1986 08/28/1986 3. HEAVENER UA* LEFLORE WATER & SEWER SYSTEM $2,200,000.00 F N 1985 03/11/1986 04/14/1988 IMPROVEMENTS 4. KETCHUM PWA* CRAIG WATER STORAGE TANK $170,000.00 F N 1985 10/14/1986 04/30/1987 5. APACHE PWA* CADDO REFINANCE EXISTING DEBT ON $710,000.00 V R 1986A 01/13/1987 03/11/1987 WATER & SEWER SYSTEMS 6. MARIETTA PWA LOVE REFINANCE INTERIM FINANCING $550,000.00 V R 1986A 02/10/1987 OS/29/1987 FOR SEWAGE TREATMENT SYSTEM 7. RWD #11' OSAGE NEW WATER SUPPLY & $285,000.00 V N 1986A 02/10/1987 02/25/1988 DISTRIBUTION SYSTEM 8. KIOWA PWA* PITTSBURG WATER SUPPLY & TREATMENT PLANT $145,000.00 V R 1986A 04/14/1987 11/19/1987 IMPROVEMENTS I 9. MORRIS PWA OKMULGEE SEWAGE SYSTEM EXTENSION & $165,000.00 V R 19B6A 04/14/1987 OS/29/1987 IMPROVEMENTS 10. SALINA PWA' MAYES SEWAGE TREATMENT PLANT $50,000.00 V R 1986A 04/14/1987 12/29/1987 IMPROVEMENTS 11. RWD #1' LEFLORE REFINANCE SHORT-TERM WATER $95,000.00 V R 1986A 05/12/1987 06/14/1988 SYSTEM LOANS 12. SPENCER VA* OKLAHOMA UPGRADE & IMPROVE EXISTING $210,000.00 V R 1986A 06/09/1987 11/30/1987 SEWER SYSTEM INTEREST TYPE PAGE 2 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED U. WAKITA UA* GRANT REFINANCE EXISTING DEBT & $335,000.00 V N 1986A 06/09/1987 09/08/1988 COMPLETE WATER SYSTEM IMPROVEMENTS 14. CHELSEA EDA * ROGERS WATER & SEWER SYSTEM $500,000.00 V R 1986A 07/14/1987 12/01/1987 IMPROVEMENTS 15. RWD #4 * KAY PURCHASE WATER DISTRIBUTION $135,000.00 V R 1986A 07/14/1987 12/20/1988 SYSTEM FROM KAW WATER, INC. 16. LEEDEY PWA DEWEY REFINANCE EXISTING DEBT & $325,000.00 V N 1986A 08/11/1987 10/13/1987 REFURBISH WATER TOWER 17. WELEETKA PWA OKFUSKEE WATER TREATMENT PLANT $190,000.00 V R 1986A 08/11/1987 09/07/1988 IMPROVEMENTS 18. STERLING PWA*· COMANCHE REFINANCE EXISTING DEBT ON $115,000.00 V R 1986A 09/08/1987 04/29/1988 SEWER SYSTEM 19. LONE WOLF PWA KIOWA REFINANCE EXISTING DEBT ON $200,000.00 V R 1986A 10/13/1987 07/18/1989 WATER SYSTEM 20. CACHE PWA COMANCHE REFINANCE EXISTING DEBT ON $710,000.00 V R 1986A 11/10/1987 12/01/1987 WATER & SEWER SYSTEM 21. MORRISON PWA NOBLE REFINANCE EXISTING DEBT ON $320,000.00 V R 1986A 11/10/1987 07/27/1989 WATER SYSTEM & CONSTRUCT SEWAGE TREATMENT LAGOONS 22. YALE WATER & SEWAGE TRUST PAYNE REFINANCE EXISTING DEBT ON $820,000.00 V R 1986A 11/10/1987 06/09/1988 WATER SYSTEM 23. NICHOLS HILLS MA* OKLAHOMA WATER & SEWER SYSTEM $2,940,000.00 V R 1986A 01/12/1988 05/13/1988 IMPROVEMENTS 24. RWD #1* OSAGE REFINANCE FMHA LOAN & COMPLETE $190,000.00 V R 1986A 02/09/1988 07/07/1988 WATER SYSTEM IMPROVEMENTS INTEREST TYPE PAGE 3 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 25. RWD #3* KAY WATER SYSTEM IMPROVEMENTS $40,000.00 V R 1986A 03/08/1988 05/10/1988 26. FREEDOM MA WOODS CONSTRUCTION OF NEW WATER LINES $80,000.00 V R 1986A 04/12/1988 06/13/1988 27. SULPHUR MA* MURRAY RENOVATION OF EXISTING SEWAGE $725,000.00 V R 1986A 04/12/1988 OS/24/1989 TREATMENT PLANT 28. RW,S,G,& SWMD #4* WAGONER PURCHASE GREEN COUNTRY UTILITY $380,000.00 V R 1986A 07/12/1988 12/09/1988 CO 29. SAND SPRINGS MA* TULSA WATER TRANSMISSION LINE TO $11,405,000.00 V R 1986A 09/14/1988 01/26/1989 SKIATOOK LAKE 30. SAPULPA MA* CREEK WATER TRANSMISSION LINE TO $7,250,000.00 V R B86A 09/14/1988 01/26/1989 SKIATOOK LAKE 31. TALIHINA PWA LEFLORE WATER SYSTEM IMPROVEMENTS $605,000.00 V N 1986A 09/14/1988 03/01/1989 32. RWD #3 MAYES REFINANCE INTERIM LOAN $290,000.00 V R 1986A 10/11/1988 11/04/1988 33. RWD #6 MAYES REFINANCE INTERIM LOAN $500,000.00 V R 1986A 10/11/1988 11/04/1988 34. LEXINGTON PWA CLEVELAND WATER & SEWER SYSTEM $335,000.00 V R 1986A· 12/13/1988 02/13/1989 IMPROVEMENTS 35. RWD #1 (LONGTOWN) PITTSBURG REFINANCE EXISTING DEBT $560,000.00 V R 1986A 12/13/1988 12/20/1988 36. TEXHOMA PWA TEXAS REFINANCE DEBT & SEWER STSTEM $300,000.00 V R 1986A 12/13/1988 01/31/1989 .IMPROVEMENTS 37. GRANDFIELD PWA TILLMAN WATER TRANSMISSION LINE $115,000.00 V R 1986A 01/10/B89 07/18/1989 38. PORUM PWA MUSKOGEE REFINANCE EXISTING DEBT $730,000.00 V R 1986A 01/10/1989 02/13/1989 39. GERONIMO PWA COMANCHE REFINANCE FMHA LOANS $285,000.00 V R 1986A 02/14/1989 03/07/1989 40. PORTER PWA WAGONER REFINANCE FMHA LOANS $300,000.00 V R 1986A 02/14/1989 03/09/1989 INTEREST TYPE PAGE 4 FIXED(F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 41. PVIA LEFLORE REFINANCE FMHA DEBT & WATER $2,210,000.00 V R 1986A 02/14/1989 03/09/1989 SYSTEM IMPROVEMENTS 42. RWD #12* OSAGE NEW WATER DISTRIBUTION SYSTEM $45,000.00 V N 1986A 03/14/1989 07/24/1989 43. TUTTLE PWA * GRADY WATER TRANSMISSION LINE & $460,000.00 V R 1986A 03/14/B89 06/29/1989 SEWAGE LIFT STATION 44. RWD #1 GARVIN REFINANCE FMHA LOANS $445,000.00 V R 1986A 04/20/1989 07/28/1989 45. RWD #1 WOODWARD REFINANCE FMHA LOANS $235,000.00 V R 1986A 04/20/1989 05/05/1989 46. RWD #3 CUSTER REFINANCE FMHA LOANS $550,000.00 V R 1986A 04/20/1989 05/05/1989 47. RWD #5 LEFLORE REFINANCE FMHA LOANS $275,000.00 V R 1986A 04/20/1989 07/28/1989 48. WAURIKA PWA* JEFFERSON WATER & SEWER SYSTEM $1',700,000.00 V R 1986A 06/13/1989 07/31/1989 IMPROVEMENTS 49. DUKE MA JACKSON REFINANCE FMHA LOANS $200,000.00 V R 1989 09/12/1989 03/21/1990 50. LUGERT-ALTUS JACKSON IRRIGATION CHANNEL IMPROVEMENTS $1,400,000.00 F R 1989 09/12/1989 09/04/1990 5l. WARNER UA MUSKOGEE WATER INTAKE STRUCTURE $240,000.00 F R 1989 02/13/1990 07/02/1990 52. RWD #2 HUGHES REFINANCE INTERIM BANK LOANS $520,000.00 V R 1989 05/08/1990 06/20/1990 53. MOORE PWA* CLEVELAND WATER & SEWER IMPROVEMENTS $2,675,000.00 F R 1989 06/12/1990 06/05/1991 54. RINGLING MA JEFFERSON SEWER LINE CONSTRUCTION & $420,000.00 V R 1989 06/12/1990 12/28/1990 REFINANCE FMHA LOANS 55. FARGO UA ELLIS WATER & SEWER IMPROVEMENTS $125,000.00 V R 1989 07/16/1990 10/11/1990 56. NEWKIRK MA KAY SEWAGE LAGOON SYSTEM $915,000.00 V R 1989 07/16/1990 09/23/1990 57. RW,S,& SWMD #1 LOGAN WATER SYSTEM EXTENSION $155,000:00 V R 1989 07/16/1990 04/26/1991 INTEREST TYPE PAGE 5 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 58. TULSA MUA* TULSA WESTBANK INTERCEPTOR PROJECT $11,100,000.00 F CWSRF 07/16/1990 08/15/1990 59. VICI PWA* DEWEY SEWAGE LAGOON SYSTEM $190,000.00 V R 1989 07/16/1990 11/29/1990 60. MARIETTA PWA LOVE PURCHASE PROVATE WATER SYSTEM $285,000.00 V R 1989 08/14/1990 04/12/1992 & EXTEND WATER SERVICE 61. PITTSBURG COUNTY WA* PITTSBURG WATERLINE IMPROVEMENTS, NEW $1,055,000.00 V R 1989 08/14/1990 12/21/1990 CLARIFIER, AND REFINANCE EXISTING DEBT 62. RWD #2* OTTAWA WATER SYSTEM IMPROVEMENTS $215,000.00 V R 1989 08/14/1990 01/25/1991 63. RW,S,&SWMD #4 CANADIAN REFINANCE FMHA LOANS $450,000.00 V R 1989 09/12/1990 11/28/1990 64. WISTER PWA* LEFLORE REFINANCE EXISTING DEBT $165,000.00 V N 1989 09/12/1990 01/08/1991 65. CLEO SPRINGS PWA MAJOR CONSTRUCT TOTAL RETENTION $145,000.00 V R 1989 10/09/1990 01/30/1991 LAGOON SYSTEM, LIFT STATION, AND REFINANCE EXISTING DEBT 66. CACHE PWA COMANCHE SEWER LINE REPLACEMENT $105,000.00 V R 1989 12/11/1990 03/26/1991 67. HALL PARK MA* CLEVELAND WASTEWATER SYSTEM IMPROVEMENTS $180,000.00 V R 1989 01/08/1991 07/23/1991 68. ELGIN PWA COMANCHE SEWAGE LAGOON, WATER TOWER, $520,000.00 V R 1989 03/12/1991 09/06/1991 AND REF.INANCE EXISITNG DEBT 69. RWD #12 LEFLORE REFINANCE INTERIM BANK LOANS $200,000.00 V N 1989 03/12/1991 03/25/1991 70 ..TULSA MUA* TULSA SEWAGE TREATMENT PLANT $15,559,500.00 F CWSRF 03/12/1991 07/08/1991 EXPANSION 71. APACHE PWA CADDO REFINANCING $590,000.00 F R 1989 05/06/1991 06/05/1991 72. HARRAH PWA* OKLAHOMA WATER SYSTEM IMPROVEMENTS $1,150,000.00 F R 1989 05/06/1991 07/16/1991 INTEREST TYPE PAGE 6 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) .NONRATABLE (N)@ SERIES APPROVED FUNDED 73. ARAPAHO PWA CUSTER WATER STORAGE TANK $130,000.00 V R 1989 06/11/1991 11/26/1991 74. CALUMET PWA* CANADIAN INTERIM FINANCING FOR SEWER $345,000.00 V N 1989 06/11/1991 08/30/1991 PROJECT 75. POCOLA MA LEFLORE REFINANCING & SEWAGE TREATMENT $270,000.00 V R 1989 06/11/1991 06/28/1991 IMPROVEMENTS 76. RW,S,&SWMD #3 LOGAN REFINANCING & WATER SYSTEM $2,650,000.00 V R 1989 06/11/1991 06/28/1991 IMPROVEMENTS 77. DAVIS MA MURRAY SEWER SYSTEM IMPROVEMENTS $450,000.00 V R 1989 08/13/1991 09/25/1991 78. GARBER MA GARFIELD ROCK-REED FILTER SYSTEM, $145,000.00 F R 1989 08/13/1991 01/28/1992 DIKING & PIPING MODIFICATION 79. DEWEY PWA WASHINGTON WATER DISTRIUTION SYSTEM $255,000.00 V R 1989 09/10/1991 12/17/1991 IMPROVEMENTS 80. PONCA CITY UA* KAY WASTEWATER PLANT CONSTRUCTION $750,000.00 V R 1989 09/10/1991 09/25/1991 DESIGN 8l. NICHOLS HILLS MA OKLAHOMA REFINANCE 1988 OWRB LOAN $2,750,000.00 F R 1989 10/16/1991 12/03/1991 82. EL RENO MA* CANADIAN WATER LINE CONSTRUCTION $515,000.00 V R 1989 11/12/1991 12/17/1991 83. FAIRVIEW UA MAJOR WASTEWATER RETENTION LAGOONS $550,000.00 V R 1989 11/12/1991 04/15/1992 84. GUYMON UA* TEXAS SRF INTERIM CONSTRUCTION LOAN $300,000.00 F CWSRF 12/17/1991 12/20/1991 85. PAULS VALLEY MA GARVIN REFINANCE FMHA LOANS $7,335,000.00 F R !!I89 12/17/1991 01/28/1992 86. RWD #1 GARFIELD WATER SYSTEM IMPROVEMENTS & $270,000.00 V R 1989 12/17/1991 03/31/1992 NEW STORAGE TANKS 87. RWD #7 MAYES REFINANCE FMHA DEBT $420,000.00 F R 1989 12/17/1991 01/28/1992 INTEREST TYPE PAGE 7 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 88. BARTLESVILLE MA* WASHINGTON WATER TREATMENT PLANT $4,500,000.00 V R 1989 01/15/1992 02/20/1992 IMPROVEMENTS, PUMP STATION, DISTRIBUTION LINE, & TANK 89. MUSKOGEE MA* MUSKOGEE SEWER SYSTEM IMPROVEMENTS $11,553,000.00 F CWSRF 02/11/1992 OS/20/1992 90. RW,S,G,& SWMD #4 WAGONER WATER TREATMENT PLANT, INTAKE $6,000,000.00 F R 1989 02/11/1992 04/16/1992 FACILITY DISTRIBUTION SYSTEM & REFINANCING 91. WALTERS PWA COTTON WATER TREATMENT PLANT & $1,200,000.00 V R 1989 02/11/1992 04/29/1992 REFINANCING 92. GLENPOOL USA TULSA SEWER SYSTEM FACILITIES $230,000.00 V R 1989 03/10/1992 OS/22/1992 IMPROVEMENTS 93. NASH P\'/A GRANT WATER SYSTEM IMPROVEMENTS & $355,000.00 F N 1992 03/10/1992 12/16/1992 REFINANCE LOANS 94. RED OAK PWA LATIMER WATER TREATMENT PLANT, STORAGE $220,000.00 V N .1992 03/10/1992 05/05/1993 TANK, WATER LINES, & SEWAGE SYSTEM IMPROVEMENTS 9956.. BCEHAAVNEDRLERPWMAA+* BLEIANVCEORLN SREEWFEIRNANSCYISNTGEM FMIHMAPROLVOEAMNENTS $5,$673101,,050308..0903 FF N C1W98S9RF 0044//1144//11999922 0076//1142//11999922 I 97. MARIETTA PWA+* LOVE SRF INTERIM CONSTRUCTION LOAN $644,166.27 F CWSRF 04/14/1992 02/10/1993 98. DEWEY PWA* WASHINGTON SEWER SYSTEM IMPROVEMENTS $1,450,000.00 F CWSRF 06/09/1992 06/15/1992 99. GOLTRY PWA ALFALFA REFINANCE LOAN & REHAB STORAGE $115,000.00 V R 1989 06/09/1992 07/31/1992 TANK 100. INOLA PWA* ROGERS REFINANCE FMHA LOAN $130,000.00 F N 1992 06/09/1992 04/01/1993 INTEREST TYPE PAGE 8 I FIXED(F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 101. OKAY PWA WAGONER SEWER SYSTEM IMPROVEMENTS, $250,000.00 V N 1989 06/09/1992 07/14/1992 REFINANCEING EXISTING DEBT 102. OKEMAH UA OKFUSKEE REFINANCE FMHA/GECC $1,855,000.00 F R 1989 07/14/1992 09/01/1992 103. RWD #12 LEFLORE WATER STORAGE " DISTRIBUTION $80,000.00 V N 1992 07/14/1992 02/16/1993 SYSTEM 104. NICOMA PARK DA* OKLAHOMA CONSTRUCT SEWAGE COLLECTION $1,445,000.00 F CWSRF 08/11/1992 10/09/1992 SYSTEM 105. TALOGA PWA DEWEY WATER TREATMENT PLANT $280,000.00 F N 1992 08/11/1992 12/16/1992 IMPROVEMENTS 106. WYNONA MA OSAGE WASTEWATER TREATMENT $125,000.00 V N 1992 08/11/1992 12/04/1992 IMPROVEMENTS 107. ALTUS MA JACKSON DRAINAGE IMPROVEMENTS $1,725,00.0.00 F R 1992 09/15/1992 12/16/1992 108. CALERA PWA BRYAN WATER SYSTEM IMPROVEMENTS " $270,000.00 V N 1992 09/15/1992 11/13/1992 REFINANCE FMHA LOAN 109. PVIA* LEFLORE CONSTRUCTION OF A NEW 18 INCH $2,665,000.00 V R 1992 10/20/1992 11/13/1992 WATER LINE 11 O. TULSA MUA TULSA REFINANCE SRF INTERIM $4,298,579.67 F mSRF 10/20/1992 12/16/1992 .~ CONSTRUCTION LOAN 111. TULSA MUA* TULSA REFINANCE SRF INTERIM $7,300,000.00 F R 1992 10/20/1992 12/16/1992 CONSTRUCTION LOAN 112. CHOUTEAU PWA MAYES REFINANCE LOANS $150,000.00 F N 1992 11/17/1992 12/16/1992 113. OWASSO PWA TULSA SEWER AND WATER SYSTEM $4,600,000.00 B R 1992 11/17/1992 04/01/1993 IMPROVEMENTS INTEREST TYPE PAGE 9 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 114. RWD #3 ROGERS WATER SUPPLY LINE AND $1,600,000.00 V R 1992 11/17/1992 01/26/1993 APPURTENANCES 115. SKIATOOK PWA* TULSA/OSAGE WASTEWATER TREATMENT FACILITY $1,900,000.00 C R 1992 11/17/1992 12/03/1992 &. COLLECTION SYSTEM MODIFICATIONS 116. WAKITA UA GRANT REFINANCE $325,000.00 F N 1992 11/17/1992 12/16/1992 117. GUYMON UA TEXAS WATER SYSTEM IMPROVEMENTS $3,185,000.00 F R 1992 01/08/1993 08/11/1993 118. RWD #4* ROGERS WATER TREATMENT &. DISTRIBUTION $600,000.00 V R 1992 01/08/1993 04/05/1993 r SYSTEM IMPROVEMENTS 119. DUNCAN PUA* STEPHENS SEWER SYSTEM ENGINEERING $1,830,000.00 V R 1992 02/09/1993 03/24/1993 120. CHOCTAW UA OKLAHOMA WATER AND SEWER SYSTEM $605,000.00 V R 1992 03/09/1993 06/28/1993 IMPROVEMENTS 121. FORT GIBSON UA MUSKOGEE UPGRADE WATER TREATMENT SYSTEM $820,000.00 V R 1992 03/09/1993 06/14/1993 &. REFINANCE 122. GUYMON UA TEXAS REFINANCE SRP INTERIM $118,680.00 F CWSRF 03/09/1993 04/01/1993 CONSTRUCTION LOAN 123. GUYMON UA TEXAS REFINANCE SRP INTERIM $220,000.00 F R 1992 03/09/1993 04/01/1993 CONSTRUCTION LOAN 124. MUSKOGEE MA MUSKOGEE REFINANCE SRF INTERIM $2,141,969.36 F CWSRF 03/09/1993 04/01/1993 CONSTRUCTION LOAN 125. MUSKOGEE MA* MUSKOGEE REFINANCE SRP INTERIM $3,670,000.00 F R 1992 03/09/1993 04/01/1993 CONSTRUCTION LOAN 126. HENRYETTA MA OKMULGEE SEWAGE TREATMENT PLANT AND $1,350,000.00 V R 1992 04/13/1993 10/13/1993 WATER SYSTEM IMPROVEMENTS INTEREST TYPE PAGE 10 II FIXED(F} BLENDED(B} CONVERTED(C} RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N}@ SERIES APPROVED FUNDED 127. NORMAN UA* CLEVELAND SEWER SYSTEM IMPROVEMENTS $6,800,000.00 F CWSRF 04/13/1993 OS/24/1993 128. BETHANY-WARR ACRES PWA* OKLAHOMA SEWER SYSTEM IMPROVEMENTS $9,523,800.00 F CWSRF 05/11/1993 10/19/1993 129. BLACKWELL MA KAY WATER " SEWER SYSTEM $2,450,000.00 V R 1994A 05/11/1993 03/08/1995 IMPROVEMENTS 130. KREMLIN PWA GARFIELD REFINANCE DEBT,WATER,AND SEWER $175,000.00 V N 1994A 06/08/1993 04/06/1994 SYSTEM IMPROVEMENTS 131. TULSA MUA* TULSA WASTEWATER TREATMENT PLANT $2,250,000.00 V R 1992 06/08/1993 07/29/1993 IMPROVEMENTS 132. CALUMET PWA CANADIAN REFINANCE EXISTING DEBT " $645,000.00 F N 1994A 07/13/1993 04/15/1994 WATER SYSTEM IMPROVEMENTS 133. RED ROCK PWA NOBLE REFINANCE AN INTERIM LOAN &0 $130,000.00 V N 1992 07/13/1993 09/20/1993 SEWER SYSTEM IMPROVEMENTS 134. CHEYENNE UA ROGER MILLS WATER TREATMENT AND $850,000.00 V R 1992 08/03/1993 10/21/1993 DISTRIBUTION IMPROVEMENTS PLUS REFINANCING FrnHA DEBT 135. TULSA MUA* TULSA REFINANCE SRF INTERIM $10,380,000.00 V R 1992 08/03/1993 11/03/1993 CONSTRUCTION LOAN 136. TULSA MUA* TULSA 'REFINANCE SRF INTERIM $6,223,800.00 F CWSRF 08/03/1993 11/03/1993 CONSTRUCTION LOAN 137. WAYNE PWA MCCLAIN FLOW-THROUGH LAGOON SYSTEM $270,000.00 V N 1992 08/03/1993 10/15/1993 138. CANTON PWA BLAINE WATER SYSTEM IMPROVEMENTS $280,000.00 V N 1992 09/14/1993 11/19/1993 139. LANGSTON PWA LOGAN WATER TREATMENT PLANT $385,000.00 V N 1994A 09/14/1993 03/01/1994 140. PAOLI MA GARVIN SEWER LAGOON IMPROVEMENTS $120,000.00 'V N 1992 09/14/1993 11/21/1993 INTEREST TYPE PAGE 11 FIXED(F) BLENDED (B) CONVERTEO(C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 141. RWD #5* PITTSBURG WATER LINE EXTENSION $80,000.00 V N 1994A 09/14/1993 04/15/1994 142. VALLEY BROOK PWA* OKLAHOMA SEWER LAGOON REPAIRS $215,000.00 V N 1992 09/14/1993 10/04/1993 143. RW & SO #1· NOWATA REFINANCE FmHA·LOAN $215,000.00 V N 1994A 10/12/1993 01/17/1995 144. DUNCAN PUA* STEPHENS SEWER SYSTEM IMPROVEMENTS $9,400,000.00 F CWSRF 11/16/1993 12/14/1993 145. UNION CITY MA CANADIAN WATER SYSTEM IMPROVEMENTS $300,000.00 V N 1994A 11/16/1993 04/06/1994 146. RWD #1 CREEK CONSTRUCTION OF WATER $2,255,000.00 V R 1994A 01/11/1994 08/10/1994 TREATMENT PLANT, STORAGE TANK, AND WATER DISTRIBUTION LINES 147. GUTHRIE PWA* LOGAN WATER & SEWER SYSTEM $2,980,000.00 F R 1994A 02/08/1994 03/01/1994 IMPROVEMENTS 148. NEWCASTLE PWA* McCLAIN WATER SYSTEM IMPROVEMENTS $405,000.00 F R 1994A 02/08/1994 04/15/1994 149. PONCA CITY UA KAY WATER & SEWER SYSTEM $1,645,000.00 F R 1994A 02/08/1994 04/15/1994 IMPROVEMENTS 150. PONCA CITY UA* KAY SEWER SYSTEM IMPROVEMENTS $5,681,000.00 F CWSRF 02/08/1994 06/23/1994 151. HENRYETTA MA* OKMULGEE SEWER SYSTEM IMPROVEMENTS $4,765,000.00 F CWSRF 03/08/1994 12/09/1994 152. MARIETTA PWA LOVE REFINANCE SRF INTERIM $455,000.00 V N 1994A 03/08/1994 07/07/1994 CONSTRUCTION LOAN 153. MARIETTA PWA LOVE REFINANCE SRF INTERIM $257,666.51 F CWSRF 03/08/1994 07/07/1994 CONSTRUCTION LOAN 154. ALTUS MA* JACKSON IMPROVEMENTS TO THE SOUTHEAST $1,835,000.00 F R 1994A 04/12/1994 06/08/1994 SEWER TREATMENT PLANT AND I<- WATER LINES INTEREST TYPE PAGE 12 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 155. DEWEY PWA WASHINGTON REFINANCE SRF INTERIM $985,000.00 F R 1994A 04/12/1994 06/08/1994 CONSTRUCTION LOAN 156. DEWEY PWA WASHINGTON REFINANCE SRF INTERIM $570,929.01 F CWSRF 04/12/1994 06/08/1994 CONSTRUCTION LOAN 157. NICOMA PARK DA OKLAHOMA REFINANCE SRF INTERIM $568,960.29 F CWSRF 06/14/1994 08/15/1994 CONSTRUCTION LOAN 158. NICOMA PARK DA OKLAHOMA REFINANCE SRF INTERIM $875,000.00 V R 1994A 06/14/1994 08/15/1994 CONSTRUCTION LOAN 159. TULSA MUA* TULSA SOUTHSIDE WASTEWATER TREATMENT $20,994,611.00 F CWSRF 06/14/1994 10/27/1994 PLANT PROJECT 160. HALL PARK MA* CLEVELAND REPLACE WATER TANK $205,000.00 V N 1994A 07/12/1994 11/22/1994 161. MUSKOGEE MA MUSKOGEE REFINANCE SRF INTERIM $2,479,230.64 F CWSRF 07/12/1994 09/01/1994 CONSTRUCTION LOAN 162. MUSKOGEE MA* MUSKOGEE REFINANCE SRF INTERIM $4,390,000.00 F R 1994A 07/12/1994 09/01/1994 CONSTRUCTION LOAN 163. WELEETKA PWA OKFUSKEE REFINANCE EXISTING DEBT $300,000.00 V N 1994A 08/09/1994 11/10/1994 164. BROKEN ARROW MA TULSA WASTEWATER TREATMENT PLANT $3,185,000.00 V R 1994A 09/13/1994 03/06/1995 IMPROVEMENTS 165. WASHINGTON MA MCCLAIN WASTEWATER RETENTION LAGOONS $410,000.00 F CWSRF 09/13/1994 03/31/1995 166. RWD #7 NOWATA REFINANCE EXISTING DEBT ON $310,000.00 V N 1994A 10/11/1994 02/08/1995 WATER SYSTEM 167. PORUM PWA MUSKOGEE EXTENSION OF WATER LINES $350,000.00 V R 1994A 11/01/1994 12/27/1994 168. GUYMON UA* TEXAS IMPROVEMENTS TO WASTEWATER $4,775,000.00 V R 1994A 12/13/1994 12/14/1994 TREATMENT FACILITIES INTEREST TYPE PAGE 13 FIXED(F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 169. RWD #9 ROGERS REPLACE WATERLINE $150,000.00 V N 1994A 12/13/1994 08/02/1995 170. GOLDSBY WA MCCLAIN CONSTRUCT A NEW WATER $450,000.00 V N 1994A 02/14/1995 04/18/1995 TREATMENT PLANT AND APPURTENANCES 171. PONCA CITY UA KAY WATER SYSTEM IMPROVEMENTS $3,925,000.00 V R 1994A 02/14/1995 03/01/1995 172. SHAWNEE MA * POTTAWATOMIE WASTEWATER TREATMENT FACILITY $3,048,000.00 F CWSRF 02/14/1995 12/06/1995 IMPROVEMENTS 173. TONKAWA MA KAY WASTEWATER COLLECTION SYSTEM $350,000.00 V CWSRF 03/14/1995 09/01/1995 IMPROVEMENTS 174. LAWTON WA* COMANCHE SEWER SYSTEM EVALUATION SURVEY $5,540,000.00 V R 1994A 04/11/1995 05/10/1995 & ENGINEERING SERVICES 175. HARRAH PWA+ OKLAHOMA EXTEND SANITARY SEWER GRAVITY $1,379,564.34 F CWSRF 06/13/1995 07/31/1995 SYSTEM 176. ALEX MA GRADY SEWER SYSTEM IMPROVEMENTS $350,000.00 V N 1995 07/11/1995 03/29/1996 177. RUSH SPRINGS MIA GRADY REPLACEMENT OF STORAGE TANK & $320,000.00 V N 1994A 07/11/1995 12/27/1995 REPAIRS TO EXISTING STANDPIPE 178. BETHANY-WARR ACRES PWA OKLAHOMA REFINANCE SRF INTERIM $3,749,940.00 F CWSRF 09/12/1995 11/09/1995 CONSTRUCTION LOAN 179. BETHANY-WARR ACRES PWA OKLAHOMA REFINANCE SRF INTERIM $6,335,000.00 V R 1995 09/12/1995 11/09/1995 CONSTRUCTION LOAN 180. BROKEN ARROW MA* TULSA LYNN LANE STP PHASE lA $3,925,000.00 F CWSRF 09/12/1995 06/28/1996 181. KIEFER PWA CREEK ENGINEERING AND CONSTRUCTION $320,000.00 F CWSRF 09/12/1995 09/29/1995 OF PHASE I INTEREST TYPE PAGE 14 I FIXED (F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 182. DUNCAN PUA STEPHENS REFINANCE A PORTION OF SRF $4,025,000.00 V R 1995 10/10/1995 10/31/1995 INTERIM CONSTRUCTION NOTE 183. DUNCAN PUA STEPHENS REFINANCE A PORTION OF SRF $2,328,867.75 F CWSRF 10/10/1995 10/31/1995 INTERIM CONSTRUCTION NOTE 184. HOOKER MA* TEXAS CONSTRUCT A NEW WATER WELL AND $180,000.00 V N 1994A 10/10/1995 11/29/1995 APPURTENANCES 185. MARLOW MA STEPHENS SEWER SYSTEM IMPROVEMENTS $3,925,000.00 F CWSRF 10/10/1995 11/30/1995 186. WILBURTON PWA LATIMER REFINANCE EXISTING DEBT & $600,000.00 V N 1994A 10/10/1995 11/17/1995 IMPROVE WATER SYSTEM 187. GLENPOOL USA TULSA SEWER SYSTEM IMPROVEMENTS $3,751,300.00 F CWSRF 11/14/1995 02/09/1996 188. LOCUST GROVE PWA MAYES WASTEWATER TREATMENT $1,675,000.00 V N 1994A 11/14/1995 12/14/1995 IMPROVEMENTS & REFINANCE EXISTING DEBT 189. NORMAN UA CLEVELAND REFINANCE SRF INTERIM $2,720,000.00 F CWSRF 12/12/1995 12/21/1995 CONSTRUCTION LOAN 190. SKIATOOK PWA TULSA MAIN FLOW LINE TO TREATMENT $600,000.00 F CWSRF 12/12/1995 03/15/1996 FACITLITY & SEWER LINE EXTENSIONS 191. STILWELL ADA ADAIR WATER & SEWER SYSTEM $1,000,000.00 V R 1994A 12/12/1995 02/14/1996 IMPROVEMENTS 192. BEAVER PWA BEAVER REFINANCE SRF INTERIM $844,000.00 F CWSRF 01/09/1996 01/12/1996 CONSTRUCTION LOAN 193. RWD #13 CHEROKEE CONSTRUCT A STANDPIPE & $170,000.00 V N 1994A 01/09/1996 07/10/1996 REPLACE WATER MAINS INTEREST TYPE PAGE 15 FIXED(F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 194. RWD #5 ROGERS CONSTRUCT A NEW PUMP STATION $2,100,000.00 V R 1995 01/09/1996 02/29/1996 AND STORAGE FACILITY 195. FAIRFAX PWA OSAGE WASTEWATER TREATMENT PLANT $882,000.00 F CWSRF 03/19/1996 03/20/1996 IMPROVEMENTS & 1/1 CORRECTION 196. OWASSO PWA* TULSA EXPAND & UPGRADE EXISTING $1,520,000.00 F CWSRF 04/09/1996 12/20/1996 WASTEWATER TREATMENT FACILITY 197. COYLE PWA LOGAN REFINANCE EXISTING LOAN $340,000.00 V N 1994A 05/14/1996 07/03/1996 198. KREBS UA PITTSBURG SANITARY SEWER IMPROVEMENTS $605,000.00 V N 1995 05/14/1996 07/30/1996 ·1 199. PITTSBURG PWA PITTSBURG REFINANCE EXISTING LOAN $105,000.00 V CWSRF 05/14/1996 08/08/1996 200. PONCA CITY UA* KAY SEWER SYSTEM IMPROVEMENTS $18,680,000.00 F CWSRF 05/14/1996 06/28/1996 201. TULSA MUA * TULSA SANITARY SEWER IMPROVEMENTS $6,750,000.00 V R 1995 05/14/1996 06/28/1996 202. TULSA MUA * TULSA SANITARY SEWER SYSTEM $4,000,000.00 F CWSRF 05/14/1996 06/28/1996 IMPROVEMENTS 203. SALINA PWA MAYES NEW WATER TREATEMENT FACILITIES $1,700,000.00 V N 1995 06/11/1996 11/09/1996 204. HELENA PWA ALFALFA PSTUMOPRAGSETATLIAOGNOON, SEWER LINE & $440,000.00 F CWSRF 07/09/1996 09/26/1996 I 205. CUSHING MA* PAYNE NEW WATER TREATMENT PLANT, $7,155,000.00 V R 1995 08/13/1996 04/29/1997 STORAGE TOWER AND WATER WELLS 206. HAILEYVILLE PWA PITTSBURG STP CONSTRUCTION $419,000.00 F CWSRF 08/13/1996 10/08/1996 207. RUSH SPRINGS MIA GRADY SEWER SYSTEM IMPROVEMENTS $605,150.00 F CWSRF 08/13/1996 08/30/1996 208. RW,S,G & SWM #9 DELAWARE NEW WATER DISTRIBUTION SYSTEM $635,000.00 V N 1995 08/13/1996 09/12/1996 INTEREST TYPB PAGE 16 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE(R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) .NONRATABLE (N)@ SERIES APPROVED FUNDED 209. RWD #4 ROGERS UPGRADE AND EXPAND WATER $1,465,000.00 V R 1995 08/13/1996 12/31/1996 TREATMENT FACILITIES 210. TISHOMINGO MA JOHNSTON REFINANCE OUTSTANDING LOAN $535,000.00 V N 1995 09/10/1996 09/30/1996 211. BROKEN ARROW MA* TULSA PHASE II OF HAIKEY CREEK $2,820,000.00 F CWSRF 10/08/1996 11/01/1996 WASTEWATER TREATMENT PLANT 212. CHANDLER MA LINCOLN CONSTRUCT A SEQUENCING BATCH $2,695,000.00 F CWSRF 10/08/1996 11/20/1996 REACTOR WASTEWATER TREATMENT PLANT 213. ENID MA * GARFIELD NEW INTERCEPTOR AND RENOVATION $8,200,000.00 F CWSRF 10/08/1996 11/12/1996 OF LINES 214. HENRYETTA MA OKMULGEE REFINANCE SRF INTERIM $1,991,462.80 F CWSRF 10/08/1996 03/28/1997 CONSTRUcTION LOAN 215. RWD #2 WAGONER WATER SYSTEM IMPROVEMENTS $285,000.00 V N 1995 10/08/1996 03/26/1997 216. RWD #4 HUGHES EXTEND LINES TO CONNECT TO $200,000.00 V N 1995 10/08/1996 10/17/1997 HUGHES RWD #6 217. TULSA MUA TULSA REFINANCE A PORTION OF SRF $6,660,000.00 V R 1994A 11/19/1996 01/17/1997 I INTERIM CONSTRUCTION LOAN 218. TULSA MUA TULSA REFINANCE A PORTION OF SRF $4,035,000.00' F CWSRF 11/19/1996 01/17/1997 INTERIM CONSTRUCTION LOAN 219. TUTTLE PWA • GRADY INSTALLATION OF WATER MAINS $200,000.00 V R 1995 11/19/1996 02/28/1997 220. CHECOTAH PWA MCINTOSH CONTRUCT A CLEARWELL AND $655,000.00 V N 1995 12/10/1996 01/16/1997 REPLACE PUMPS 221. LOCUST GROVE PWA MAYES WASTEWATER TREATMENT PLANT $1,835,000.00 F CWSRF 12/10/1996 12/19/1996 IMPROVEMENTS INTEREST TYPE PAGE 17 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE{R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE{N)@ SERIES APPROVED FUNDED 222. PONCA CITY UA KAY REFINANCE SRF INTERIM $3,070,000.00 C R 1995 12/10/1996 03/12/1997 CONSTRUCTION LOAN 223. PONCA CITY UA KAY REFINANCE SRF INTERIM $1,784,449.06 F CWSRF 12/10/1996 03/12/1997 CONSTRUCTION LOAN 224 ..VINITA UA CRAIG REFURBISH THE WASTEWATER $1,900,000.00 F CWSRF 12/10/1996 01/10/1997 TREATMENT PLANT 225. INOLA PWA ROGERS REPAIR AND REHABILITATE THE $625,000.00 F CWSRF 01/14/1997 04/29/1997 .COLLECTION SYSTEM 226. MUSKOGEE MA* MUSKOGEE SEWER SYSTEM IMPROVEMENTS $14,112,000.00 F CWSRF 02/11/1997 06/04/1997 227. BEAVER PWA BEAVER ARBITRATION AWARD $376,673.77 F CWSRF 04/08/1997 OS/22/1997 228. HALL PARK MA* CLEVELAND SEWER TREATEMENT FACILITY $380,000.00 V N 1995 04/08/1997 05/08/1998 IMPROVEMENTS 229. ROLAND UA SEQUOYAH . RESERVOIR & WTP $4,890,000.00 V N 1995 04/08/1997 07/21/1997 230. WARNER UA MUSKOGEE IMPROVEMENTS TO WATER $435,000.00 V N 1995 04/08/1997 03/31/1998 TREATMENT FACILITIES 231. POTEAU PWA LEFLORE UPGRADE AND EXPAND WASTEWATER $2,335,000.00 F CWSRF 05/13/1997 07/22/1997 TREATMENT PLANT 232. RW, S, G&SWMD #3 CRAIG REFINANCE EXISTING INDEBTEDNESS $1,055,000.00 V N 1995 05/13/1997 06/06/1997 233. WOODWARD MA WOODWARD CONSTRUCT WATER SUPPLY LINE TO $345,000.00 V N 1995 05/13/1997 09/05/1997 FORT SUPPLY 234. SHAWNEE MA POTTAWATOMIE REFINANCE SRF INTERIM $1,073,278.84 F CWSRF 06/10/1997 09/02/1997 CONSTRUCTION LOAN 235. SHAWNEE MA POTTAWATOMIE REFINANCE SRF INTERIM $1,900,000.00 F R 1995 06/10/1997 09/02/1997 CONSTRUCTION LOAN INTEREST TYPE PAGE 18 FIXED (F) BLENDED (B) CONVERTED (C) RATABLE (R) BOND DATE DATE APPLICANT COUNTY PROJECT DESCRIPTION LOAN AMOUNT VARIABLE (V) NONRATABLE(N)@ SERIES APPROVED FUNDED 236. GERONIMO PWA COMANCHE SEWER SYSTEM IMPROVEMENTS $395,000.00 F CWSRF 07/08/1997 09/10/1997 237. RWD #1 DELAWARE CONSTRUCTION OF STANDPIPES $360,000.00 V N 1995 07/08/1997 03/30/1998 238. RWD #1 MUSKOGEE WATER SYSTEM IMPROVEMENTS AND $430,000.00 V N 1995 08/12/1997 03/31/1998 REFINANCE EXISTING LOAN 239. BROKEN ARROW MA TULSA REFINANCE PORTION OF FAP LOAN $1,079,599.46 F CWSRF 09/09/1997 10/16/1997 240. CHOUTEAU PWA MAYES REFINANCE EXISTING $815,000.00 V N 1995 10/14/1997 04/29/1998 INDEBTEDNESS AND SEWER SYSTEM IMPROVEMENTS 241. BROKEN ARROW MA TULSA REFINANCE INTERIM SRF $2,805,000.00 V R 1997 11/04/1997 i2/22/1997 CONSTRUCTION LOAN FOR LYNN LANE IMPROVEMENTS 242. BROKEN ARROW MA TULSA REFINANCE INTERIM SRF $1,570,000.00 F CWSRF 11/04/1997 12/22/1997 CONSTRUCTION LOAN FOR LYNN LANE IMPROVEMENTS 243. RWD #2 MAYES UPGRADE WATER SUPPLY AND $825,000.00 V N 1995 11/04/1997 OS/21/1998 TREATMENT FACILITIES 244. RWD #3 ROGERS REFINANCE EXISTING INDEBTEDNESS $750,000.00 V R 1995 11/04/1997 01/09/1998 I 245. CHECOTAH PWA MCINTOSH SEQUENCING BATCH REACTOR SEWER $3,025,000.00 F CWSRF 12/09/1997 03/05/1998 SYSTEM 246. CONSOLIDATED RWD #1 NOWATA WATER SYSTEM IMPROVEMENTS $245,000.00 V N 1997 12/09/1997 10/30/1998 247. DUNCAN PUA STEPHENS REFINANCE INTERIM SRF $1,333,508.08 F CWSRF 12/09/1997 02/09/1998 CONSTRUCTION LOAN 248. DUNCAN FUA STEPHENS REFINANCE SRF INTERIM $2,315,000.00 V R 1997 12/09/1997 02/09/1998 CONSTRUCTION LOAN |
Date created | 2011-08-10 |
Date modified | 2011-08-10 |