NEWS

House Bill 264 Goes into Effect Providing OWDA Loan Refinancing for Water & Sewer Projects

House Bill 264 was signed by Governor DeWine and shall go into effect immediately allowing Ohio Water Development Authority (OWDA) to provide for the refinancing of loans for certain public water and waste water infrastructure projects.

COLUMBUS — House Bill 264 passed by a vote of 85-0. The primary sponsors of the bill are state Reps. Michael O’Brien, D-Warren, and Shawn Wilkin, R-Hillsboro.

“This passed because it is a bipartisan bill that will benefit all communities and our constituents,” O’Brien said. “This passed overwhelmingly because regardless of where a community is located, this provides an opportunity for them to reap some financial savings through the refinancing of these loans.”

The legislation will enable communities with higher interest rate loans to refinance the loans — potentially lowering the amounts their rate payers must pay. The magnitude of any potential local savings will depend upon the terms of loan agreements.      — Tribune Chronicle

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