May 23, 2007 Edition

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Water Authority closer to go

The Arkansas Natural Resources Commission announced last week, in an official notice, approval of a loan, in an amount up to $4.5 million from the Arkansas Drinking Water State Revolving Fund to the Northeast Arkansas Public Water Authority.

The loan repayment schedule will not exceed 20 years with rates and terms to be set by the executive director.

Also approved was a deferred loan in an amount up to $515,000 from the Water Sewer and Solid Waste Fund. This loan is for 30 years with a repayment schedule of 20 years at five percent.

"These funds will be used to provide a water supply intake on Spring River, three million gallons per day water treatment plant and a water transmission system," said Mark Bennett, Chief of the Water Resources Development Division.

PWA chairman A.J. Henry said this puts the project closer to becoming a reality, though more funding is still needed.

"We will start getting the money in August," said Henry. "The project is set to begin in mid-summer of 2008, with a completion date in mid 2009."

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