The Texas Water Development Board approved a $2.1 million loan on Tuesday to the Greater Texoma Utility Authority on behalf of the city of Krum for the development of a waste water treatment plant. The loan came as the TWDB approved $64.5 million in financial assistance for water projects across the state on Monday.

The Texas Water Development Board approved a $2.1 million loan on Tuesday to the Greater Texoma Utility Authority on behalf of the city of Krum for the development of a waste water treatment plant. The loan came as the TWDB approved $64.5 million in financial assistance for water projects across the state on Monday.


The loan for the project will come from the TWDB’s Clean Water State Revolving Fund, and will be repaid over the course of 20 years. At the current interest rate of 3.09 percent for the CWSRF, the GTUA is expected to save $413,000 in interest on the project, but the interest rate for the project will not be set until the loan is finalized, said Drew Satterwhite, general manager for the GTUA.


The funds will be used to construct a larger waste water treatment plant in the small Denton County city to help keep up with recent growth in the city. The project is scheduled to begin construction in May, with the GTUA awarding the building contract to Dallas-based contractor Gracon. Satterwhite estimates that the project will take about one year to complete, once construction has begun.