The Missouri Department of Natural Resources and the Environmental Improvement and Energy Resources Authority (EIERA) together are refinancing Clean Water State Revolving Fund and Drinking Water State Revolving Fund bonds.
A news release says the bonds have a total principal value of $100.76 million, and the transactions will generate more than $5.1 million in savings for the two funding programs.
The EIERA and the department work cooperatively to implement the State Revolving Fund programs, which provide low-interest loans to Missouri communities to repair or replace aging drinking-water and wastewater systems. Since their creation in 1989, the programs have provided $3.5 billion in funding.
Communities borrowing from one of the funds benefit from the below-market interest rate, as well as from expert guidance a department project manager provides throughout each project. The average loan interest rate over the last year was below 0.86 percent.
Community leaders seeking more information on how to apply for a low-interest infrastructure loan can contact the Missouri Department of Natural Resources at (573) 751-1192 or via e-mail at email@example.com <mailto:firstname.lastname@example.org>.