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o c.::'l w::.. o -...J CO S-Minute Activity Report U7th Meeting of AWRBIAC Page 6 In November, 1989, the Board closed its third bond issue under the State Financial Assistance Program (FAP). Similar in structure to the 1986 Issue, the 1989 Issue has the following new features: . Six-month variable interest rates with a fixed rate conversion feature at the option of the borrower, . Loans for terms up to 30 years, and . More loan monies available to non-ratable entities. The interest rate for the current period is 4,892%. To date, the Board has closed 63 loans totaling $48,260,000,00. The Emergency Grant Program, another provision of the FAP, has also been extremely effective. In many cases, the grant program (which is funded from interest earnings on the Statewide Water Development Revolving Fund) is the only source of funding to small communities and rural water districts. Since its inception, the program has provided 226 communities $13,904,455.00, which has in turn stimulated nearly $55,280,204,00 of water and wastewater projects. Flood Plain MarwfJement The OWRB continues to assist communities with floodplain management throughout the state by conducting visits with local officials. This National Flood Insurance Program assistance is conducted as part of the cooperative agreement through the Oklahoma Civil Defense Agency and the Federal Emergency Management Agency. The newly formed Oklahoma Floodplain Management Association will hold its first annual conference on September 76, 1991, at the Western Hills State Lodge at Lake Ft. Gibson. Tri"",,,;nl Strmtfards Revision Be~ff The OWRB will initiate the 1991 Triennial Revision of Oklahoma's Water Quality Standards in July 1991. This revision is a required element of the Clean Water Act and provides a forum for public review and input. Both federal and state issues will be addressed, including: numerical criteria to protect human health, biocriteria, implementation strategies. groundwater and endangered species. This revision process allows the Board to .. maintain current levels of protection to all waters of the state. '..;