Drinking Water State Revolving Fund Loans
This program provides funds for training, technical assistance, and the issuance of low interest loans to local governmental entities to finance drinking water facilities and implement the Safe Drinking Water Act. State enabling legislation was passed in 1995 and amended in 1997, after the U.S. Congress passed federal enabling legislation in August 1996. DNRC and DEQ co-administer the Drinking Water Program. The two agencies applied for the federal funds in January 1998. The state has issued $9 million in general obligation bonds, EPA has obligated $38 million and $9 million in recycled funds have been used to fund loans. The outstanding loans total $50 million (see CARDD Table 8).
Twelve loans were closed in FY 2002 for $7 million. One of those loans was to the City of Shelby . The project loan was for $900,000 at 4 percent. The project consisted of refinancing an old debt, which had an effective interest rate of more than 6 percent.
The City of Choteau borrowed $332,000 at 3 percent interest. This project consisted of installing water meters throughout the city. Water meters are a good tool to help people conserve water and be thoughtful about their water consumption.
These projects continue to improve the communities that participate in the loan programs. The loan interest rate also helps to make the projects affordable. No loans are made over the 4 percent interest rate. DNRC projects that $10 million in drinking water loans will be made to communities in Montana in FY 2003.
For Additional Information Contact:
Anna Miller annam@mt.gov
Montana Department of Natural Resources and Conservation
Resource Development Bureau
1625 Eleventh Avenue
Helena, Montana 59620-1601
Phone: 406-444-6668
FAX: 406-444-6721
Website Address: http://dnrc.mt.gov
State Drinking Water Revolving Fund Loans
Drinking Water Revolving Fund Loans |
|
Loans Completed |
Amount |
Boulder |
$ 1,294,000.00 |
Broadview |
203,000.00 |
Brockton |
45,000.00 |
Cascade |
130,000.00 |
Colstrip |
563,000.00 |
Columbia Falls |
907,000.00 |
Conrad |
650,000.00 |
Cut Bank # 1 |
283,000.00 |
Cut Bank # 2 |
576,000.00 |
East Helena # 1 |
228,000.00 |
East Helena # 2 |
3,234,000.00 |
Elk Meadows |
200,000.00 |
Ennis |
60,000.00 |
Fort Peck |
1,520,000.00 |
Glendive |
1,829,000.00 |
Great Falls |
3,000,000.00 |
Havre # 1 |
600,000.00 |
Havre # 2 |
8,401,000.00 |
Kalispell |
761,000.00 |
Lakeside |
400,000.00 |
Laurel |
5,250,000.00 |
Lockwood Water & Sewer District |
1,700,000.00 |
Missoula County Sunset West |
291,000.00 |
Missoula County Fair |
233,000.00 |
Philipsburg |
200,000.00 |
Plentywood |
577,000.00 |
River Rock Water & Sewer District |
2,100,000.00 |
Seeley Lake |
1,340,000.00 |
Twin Bridges |
300,000.00 |
Virginia City |
66,000.00 |
Whitefish # 1 |
400,000.00 |
Whitefish # 2 |
5,839,000.00 |
TOTAL |
$ 43,180,000.00 |
Treasure State Endowment Program Loans
The Treasure State Endowment Program (TSEP) is administered by the Montana Department of Commerce. However, if a loan is recommended by the Department of commerce and authorized by the legislature, DNRC is responsible for closing and administering the loan. This relationship was developed because of the loan expertise and financial management system that DNRC has developed over the last 15 years in administering the Renewable Resource Grant and Loan Program.
For Additional Information Contact:
Anna Miller annam@mt.gov
Montana Department of Natural Resources and Conservation
Resource Development Bureau
1625 Eleventh Avenue
Helena, Montana 59620-1601
Phone: 406-444-6668
FAX: 406-444-6721
Website Address: http://dnrc.mt.gov
