Missouri gets better rates for wastewater loan pool
The Missouri Department of Natural Resources and the Environmental Improvement and Energy Resources Authority have refinanced more than $122 million of revolving funds used to finance wastewater projects throughout the state.
The State Revolving Fund is a perpetual loan program that benefits more than 40 cities and two sewer districts throughout Missouri. Operated by the stateÕs Department of Natural Resources, it provides a 70 percent subsidy Ñ the highest in the nation Ñ to construct and improve sewer systems.
Eighty percent of the loan pool comes from funds supplied by USEPA, and the remainder comes from the state and is provided through the sale of water pollution control bonds. To date, the program has financed more than $800 million worth of construction statewide, and it has provided more than $240 million in interest savings (compared to conventional financing) to participating communities. The refinancing will produce an additional $7.5 million in savings for participants.