May 14, 2001
Water District gets low-interest loan
Woodinville Water District is the first recipient of a Public Works Trust Fund Loan under a new streamlined process recently signed into law by Gov. Gary Locke.
Ken Goodwin, President of the Board of Commissioners for the Water District, was requested to attend the signing of the bill in Olympia and to receive the Public Works Trust Fund Loan from Locke.
Public Works Trust Fund Construction Loans are low-interest loans (from 0.5 to 2 percent), funded by the state of Washington, for public works projects which have been demonstrated to be critical to the public's health and safety.
Woodinville Water District received a loan in the amount of 3.2 million dollars for the replacement of 33,000 feet of aging asbestos cement water pipe. The old pipe will be replaced with ductile iron pipe which has a 50-year life.