News Release 553

GOV. BLUNT ISSUES MORE THAN $56 MILLION
TO EIGHT MISSOURI COMMUNITIES FOR WATER TREATMENT

Loan Program Helps Communities Improve Drinking Water and Wastewater Treatment

Volume 35-553

Contact: Renee Bungart

(For immediate release)

573-751-4465

JEFFERSON CITY, MO, DEC. 4, 2007 - Gov. Blunt today announced the State of Missouri is issuing $56.7 million to eight cities and a regional sewer district to improve their drinking water and treatment facilities. Recipients are Buffalo, Columbia, Dexter, Hamilton, Nevada, Owensville, Trenton, Washington and the Boone County Regional Sewer District.

"These improvements to drinking water and treatment facilities help communities provide safe drinking water and maintain high water quality in their streams and lakes," said Gov. Blunt.  "With this loan program the state is partnering with these communities to improve their water infrastructure so they can maintain a high quality of life for their residents and protect the environment for all Missourians."

The loans are possible through the State Revolving Fund. The Missouri Department of Natural Resources operates the perpetual loan program that provides subsidized, low-interest loans to communities and public water and sewer districts statewide. These loans are used to construct water and wastewater treatment facilities. Federal funds through the U. S. Environmental Protection Agency provide 80 percent of the loan pool with a 20 percent state match. To date, the program has financed $1.93 billion of construction statewide and provided interest savings of over $573 million to its participants as compared to conventional financing.

The average interest rate on the water and wastewater bonds was 1.53 percent after the program's 70 percent interest subsidy is applied. These extremely low-interest rates allow communities to achieve infrastructure improvements and environmental compliance at affordable user rates.

Department of Natural Resources Director Doyle Childers was pleased with the results of this financing. "Missouri's State Revolving Fund program continues as a national leader," said Childers. "The communities participating in the State Revolving Fund program will be able to make environmental improvements to their water and wastewater infrastructure while keeping rates affordable for their customers."

For more information, contact the department's Water Protection Program at  573-751-1192 or visit www.dnr.mo.gov/env/wpp/srf/index.html. 

For news releases on the Web, visit www.dnr.mo.gov/newsrel. For a complete listing of the department's upcoming meetings, hearings and events, visit the department's online calendar at www.dnr.mo.gov/calendar/search.do.

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