The Little Rock School District Board on Oct. 16 approved a resolution authorizing the issuance and delivery of bonds after a competitive sale that produced a winning bid from BofA Securities.

Mister Trumper, representing the district’s financing team, told the board the bonds were sold for a par amount and that closing is scheduled for Nov. 18. "Yesterday, we sold your all's bonds, 76,730,000 with our goal to net 75,000,000 project funds," he said, and staff provided a sources‑and‑uses breakdown showing underwriter fees, municipal advisory fees, bond counsel and rating agency fees deducted from the sale proceeds.

Mr. Trumper and Mister Bailey explained the sale produced eight bids, with BofA Securities offering the lowest true interest cost at a 4.23% yield. The bid list included national underwriters and regional firms. The structure shown to the board included serial maturities from 2027 through 2044 and term bonds in 2047 and 2052; the bonds will be callable in 2031.

The district’s finance staff told the board the net available for projects after discounts and fees is approximately $75,000,004.47. Staff said the funds will be used to complete capital projects connected to prior voter‑authorized millage and ongoing construction efforts, including West Little Rock high‑school construction, FF&E (furniture, fixtures and equipment) purchases, site work and other capital needs the district has previously outlined.

Board member discussion touched on how the sale interacts with previously authorized millage projects and on whether local banks participate in secondary purchases of bonds; staff explained underwriting versus commercial banking roles and said large institutional buyers typically acquire blocks of bonds through the winning underwriter.

Board member Jera moved approval of the bond resolution; Board member Tina Marshall seconded. The board voted by voice and the motion carried.

Details staff provided: total par issuance $76,730,000; purchaser BofA Securities; net proceeds for project funds approximately $75,000,004.47 after an underwriter’s discount of $333,006.97 and other costs; closing scheduled Nov. 18; first interest payment due 02/01/2026 with first principal payment Feb. 1, 2027. Staff said the bonds are secured by an existing second‑lien pledge of excess debt‑service revenues and did not require a new voter authorization.

The board approved the resolution without a roll‑call tally recorded in the minutes; staff said they would provide conventional financial follow‑up information at closing.