FRANKFORT, Ky. (November 7, 2019) – The Kentucky Infrastructure Authority Board has approved a Fund B loan in the amount of $2,735,000 to refinance an existing loan to the Hyden-Leslie Water District, Leslie County, Kentucky
The Hyden-Leslie Water District (the “District”) is requesting a Fund B loan in the amount of $2,735,000 for the refinance of the Kentucky Rural Water Short-Term Note for a $4.1 million project which included 61.5 miles of water line, two 50,000 gallon water tanks, three pump stations, and the addition of 317 customers. This project has been completed. The difference in the project cost and loan amount was provided through grant monies. The District originally sought the short-term financing to complete the project and needs to convert the loan into a long-term arrangement.
Among its functions, KIA provides low-interest loans to public utilities for projects having to do with storm water control treatment systems, solid waste management systems and other infrastructure vital to public health.
KIA was created in 1988 to provide funding mechanisms for local public works projects. As of last year, the agency had provided more than $1.7 billion in assistance to municipalities across the Commonwealth wanting to expand access to potable water. KIA is under the Office of the Governor and administratively attached to the Department for Local Government. To learn more, visit kia.ky.gov.