Building new water systems is expensive, so Oklahoma has a program to help communities pay for these projects.
Here’s how it works: Cities and towns apply for a low-interest loan through the Oklahoma Water Resources Board. The state has a better credit rating than most cities do. So going through the state gets them a better deal on a loan.
The program has been around since 1985, securing more than $2 billion for water projects across the state. But there was a problem. The state only has so much credit, and a Broken Arrow’s project pushed it to the limit.