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Chickasha school board fixes sale date and terms for $2.2 million general obligation bonds
Summary
The Chickasha Public School District board approved a motion to set the time, place and maturity schedule for sale of $2.2 million in general obligation combined-purpose bonds authorized by a 2022 election, and instructed the clerk to give required sale notice.
The Chickasha Public School District Board of Education on Monday voted to fix the time, place and principal maturity schedule for the sale of $2.2 million in general obligation combined-purpose bonds and authorized the district clerk to give notice of the sale as required by law.
Board members heard that the bonds are part of the series authorized by voters in 2022. District staff said proceeds will be used to acquire buildings and equipment and to support safety and security projects. The bonds are federally taxable, will have a three-year final maturity and will pay principal in two installments: $900,000 in the first two years and $1,300,000 in the third year, according to district materials. Bids were set to be due by 9:30 a.m. on June 9, 2025, and staff said a recommendation on the sale would be provided at the board’s June meeting.
During the agenda discussion, a staff member summarized the package and recommended the June 9 board meeting at 6 p.m. as the time to open bids. A motion to “fix the time and place and the amounts and for the clerk as just read” was made and seconded; the board recorded its assent on the motion.
The board’s action does not itself complete the sale; it establishes the schedule, amounts and authority for the clerk to publish required notices and for the district to receive bids on the date specified.
Clarifying details provided during the meeting included the $2.2 million principal amount, the two-installment principal schedule (two $900,000 installments followed by $1.3 million), the June 9, 2025 bid deadline and the plan to present bid results and a recommendation at the board’s June 9 meeting.
The board also discussed retaining bond counsel and related professional services in a separate agenda item.
No legal citations beyond the statement that the meeting was posted in compliance with the Oklahoma Open Meetings Act were identified in the discussion about the bond sale.
