Southeast Bradley Water District to Receive Loan and Grant

(Little Rock) - The Arkansas Natural Resources Commission announced today, approval of a loan, with principal forgiveness, from the Arkansas Drinking Water State Revolving Fund in an amount up to $505,323 to the Southeast Bradley Water District, according to Commission Chairman Sloan Hampton.  The project will be co-funded with USDA-Rural Development providing a loan of $275,000 and a grant of $1,597,000.

The Executive Director will establish the combined annual borrower rate and additional loan terms and conditions including the requirement to establish and maintain a depreciation reserve fund.

“The funds will be used to replace the water lines within the Banks service area, abandoning the Banks well and plant, and connecting the Banks service area to the Southeast Bradley County Water District system. By doing this the Banks service area customers will experience more reliable and higher quality water for years to come," said Mark Bennett, ANRC Water Development Division Manager.