Wichita Standard

Rep. Ron Estes has cast his vote in favor of the Thomas R. Carper Water Resources Development Act, also known as S. 4367, which passed the House with a vote of 399-18. A key provision in this bill involves amending two water supply storage contracts between Kansas and the United States, resulting in over $41 million in interest savings for the state.

"The need for water in Kansas is critical and changing the contracts for future use water storage at Perry and Milford Lakes to use simple interest instead of compound interest will save the state millions of dollars," said Rep. Estes. "This is a fiscally responsible move that will benefit the communities that rely on the water in these reservoirs and ensure sufficient resources are available to meet the state’s water needs."

In 2022, during discussions surrounding the Water Resources Development Act, El Dorado city officials requested modifications to their future-use contract with the Army Corps at El Dorado Lake. By altering their contract to apply simple interest calculations instead of compound interest, they were able to significantly reduce their future interest payments. The same approach is now being applied to Perry and Milford Lakes contracts, aiming to lower Kansas's interest liability by adopting simple interest calculations.

The Kansas Water Office estimates that this change will save more than $41 million across both contracts.