LIMA, Mont. – Governor Steve Bullock today announced the Montana Department of Natural Resources and Conservation (DNRC) and the town of Lima, Mont., have reached an agreement to refinance the existing state loan package the town received for municipal water system improvements in 1999.  

With reduced costs to the state for financing, the interest rate for Lima’s refinance will drop from 4.5 percent to 3 percent, saving the community $94,068 over the 21-year life of the original loan. The savings were made possible thanks to a loan provided by the DNRC’s Renewable Resource Loan Program.

“Communities that invest in modern infrastructure, including drinking water and wastewater treatment systems, benefit now and for generations to come,” said Governor Bullock. “I’m pleased that we’re able to provide significant cost reductions to the town of Lima.”

The original project involved a series of improvements to Lima’s water system, including replacement of transmission and distribution lines and installation of water meters.