Three southwest Iowa cities will save interest money over the life of loans for water quality projects. According to the Daily NonPareil, 27 cities will save a total $1.3 million through the state revolving fund interest rate reduction program. Carson, Malvern and Farragut received loan interest rate reductions from 3 percent to 1.75 percent. Carson will save more than $33,830 over the life of a water project loan, while Malvern will save over $29,180 on a project loan. In Farragut, the city will save a little over nearly $17,693 on a loan.

In total, the program has provided low-cost financing worth more than $2.3 billion to more than 500 Iowa cities. The state program allows communities to take on lower startup costs without needing a reserve. Assisted projects typically include upgrades or the construction of public wastewater or drinker water systems.

Officials say the ultimate goal is for those savings to translate to lower water rates for Iowa residents.