INDIANAPOLIS, Ind. (WOWO): The town of Waynetown has closed on a low-interest $2.082-million loan through the Indiana Finance Authority’s Drinking Water State Revolving Fund Loan Program to pay for needed drinking water improvements.

They money will go toward installing a new water treatment plant, replacing the water main between Washington and Walnut Streets, and installing a water main at the east fork of Coal Creek. Officials say the project will provide a reliable drinking water supply and improve system pressures and flows for both residents and businesses.

The Authority says Waynetown will save more than $1-million on interest fees through this loan.