Iona has been awarded a $3.9 million low interest loan to help construct a drinking water improvement project.
The project, authorized by the Idaho Department of Environmental Quality, will be used to install a new generator and transmission lines. The city will also construct a new storage tank and well.
The loan comes from the State Revolving Loan Fund, which is capitalized by the federal Environmental Protection Agency.
The favorable loan terms represent a $1,283,000 savings to the community when compared to average costs for municipal general obligation bond indebtedness.