BILLINGS, Mont. – Governor Steve Bullock today announced that the Billings Heights Water District has been approved for a State Revolving Fund (SRF) loan to finance improvements to its drinking water system.
“Investments like these ensure the safety and health of Montana families,” said Governor Bullock. “As Montana’s economy continues to grow and create jobs and our credit ratings remain strong, we will continue to invest in communities across the state.”
The District will be replacing a single transmission line to Lanier Reservoir with two new lines, providing the Billings Heights subdivision with an alternate water main in the event one line is down for repairs or maintenance. To finance the improvements, the Billings Heights County Water District will borrow $2,987,000 from the State Revolving Fund for 20 years at 2.5% interest.
Thanks to the state’s strong credit rating, reductions in finance costs, and Governor Bullock’s earlier decision to reduce SRF interest rates from 3% to 2.5%, Billings Heights ratepayers will save $1,006,316 over the life of the loan. Western Municipal Construction Inc., of Billings, has been awarded the bid for the project, which is expected to be completed in late July.
Bullock noted the State Revolving Fund loan program administered by DNRC and the Montana Department of Environmental Quality (DEQ) enables Montana communities to upgrade or expand critical drinking- or wastewater treatment facilities at the lowest possible cost.
“Maintaining drinking water and wastewater treatment infrastructure pays dividends several times over,” Bullock said. “We protect the health and well-being of citizens; we protect our soil, groundwater and surface water. Communities with modern infrastructure are better prepared for new growth and development. And the projects create good-paying jobs for Montana workers.”
For more information on the State Revolving Fund program, contact Anna Miller of DNRC at (406) 444-6689, or visit the Montana DNRC Web site at http://dnrc.mt.gov/.