News Release 414
Clarence Cannon Wholesale Water Commission receives $4.76 million loan for water system improvements
Volume 38-414 (For immediate release)
Contact: Larry Archer
JEFFERSON CITY, MO, JULY 22, 2010 – The Missouri Department of Natural Resources has provided the Clarence Cannon Wholesale Water Commission in Monroe County with a $4.76 million loan for improvements to its drinking water system.
The commission will use the proceeds for improvements including construction of transmission mains to provide additional drinking water to the cities of Bowling Green and Wellsville.
“This loan will allow the water commission to provide safer and more reliable water to the residents of Bowling Green and Wellsville,” said Department Director Mark N. Templeton. “As the production and delivery of quality drinking water becomes more complex and expensive, many smaller communities may find that it makes more sense to become part of a regional water system.”
Funding for the loan comes from the Drinking Water State Revolving Fund. The fund is a joint effort between the Missouri Department of Natural Resources and the U.S. Environmental Protection Agency to provide cost effective financing for drinking water infrastructure improvements.
The interest rate on the loan will be approximately 2 percent, which is substantially below current market conditions. The project is estimated to cost $4.76 million and is expected to be completed in July 2011.
The Missouri Department of Natural Resources’ Water Protection Program will administer the loan funds. The department is committed to working closely with communities to assist with funding efforts that support drinking water infrastructure improvement projects, as well as provide a financial savings.
For more information, contact the department’s Water Protection Program, Financial Assistance Center, P.O. Box 176, Jefferson City, MO 65102-0176 or call 800-361-4827 or 573-751-1192 or visit the department’s website at dnr.mo.gov/env/wpp/srf.