Deer Creek board hires financial adviser, sets Aug. 5 bond sale date

The Deer Creek school board voted unanimously to retain Stephen L. Smith Corp. as the district’s financial consultant for fiscal 2025–26 and set the sale date for $25,865,000 in taxable general obligation combined-purpose bonds for Aug. 5 at noon in the boardroom.

Board members approved the consultant engagement and the bond-sale date in separate motions that each passed 3-0. The board also authorized an acting president to execute documents related to setting maturities and the logistics of the sale while the regular president was absent.

“They've been our long term bond advisors. So they do a great job for us,” Superintendent Dr. Jason Perez said when explaining the recommendation to rehire Stephen L. Smith Corp. The board approved the consultant so staff could “move on with the next parts here and prepare for a sale,” Perez said.

Board members Kelly Lay, Stanlin Green and Chris Adamson recorded “yes” votes on the consultant engagement and on the motion to set the Aug. 5 sale date. The board also nominated Stanlin Green to act as president for the specific purpose of executing sale documents in the president’s absence; that nomination passed 3-0.

The motions completed procedural steps required to prepare for the bond offering. The transcript includes the bond principal amount, the chosen sale date and the consultant appointment, but does not include any details in the meeting record about what projects or expenditures the bond proceeds will fund. The board did not provide information in the recorded discussion about bond counsel designation or the final schedule of maturities at the open meeting; staff indicated those logistical steps remain part of the sale preparation process.

The district’s next steps, as described in the meeting, are to proceed with sale preparations following the consultant engagement and to convene the sale on Aug. 5 at noon as approved by the board.