FOR IMMEDIATE RELEASE

SENATOR RAPHAEL J. MUSTO

PHONE: (717) 787-7105 PHONE: (717) 787-5166

www.pasenate.com jkurish@dem.pasen.gov

MUSTO ANNOUNCES STATE LOAN FOR SAFE WATER

HARRISBURG, November 22, 2002 -- A large PennVEST loan, announced today by Sen. Raphael J. Musto, will help bring better drinking water to hundreds of residents in Pocono Township while improving the economy of the area.

"Safe drinking water is elemental to health and quality of life," Musto said. "I'm happy to be able to help make this project happen."

The Pennsylvania Infrastructure Investment Authority (PennVEST), approved a $6 million, low-interest loan for the Stroudsburg Municipal Authority to construct 64,000 feet of water main and a 1.5 million gallon storage tank, providing safe water for hundreds of residents whose groundwater is contaminated.

As a member of the PennVEST Board of Directors, Musto provided strong support for the loan.

The project also helps a 1,200-employee local company expand its workforce by 300 workers and helps provide water for fighting fires.

"This is not just a public health project," Musto said. "It's also a safety and economic development project."

The new system will serve the commercial strip along Route 611 in the township.

For the first five years, the authority will pay only 1.37 percent interest on the loan, and then 2.74 percent for 15 years after that. The low interest rate will help keep the cost of the water down for customers.

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J.P. Kurish

Communications Specialist

Senate Democratic Information Office

717-787-5166