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Sand Springs board approves $5 million in school bonds, awards low bids to RW Baird and Northland Securities
Summary
The Sand Springs Public Schools Board approved sale and formal authorization for a $4.16 million tax-exempt general obligation bond series and an $840,000 taxable bond series, awarding the tax-exempt sale to Robert W. Baird & Co. and the taxable sale to Northland Securities.
The Sand Springs Public Schools Board of Education voted June 2 to approve the sale and formally authorize two bond series: a $4,160,000 tax-exempt general obligation combined purpose series and an $840,000 federally taxable general obligation building series.
The tax-exempt series was awarded to Robert W. Baird & Co. Inc., the board heard. Zach Robinson, the district’s financial advisor on the call, said the Baird bid produced an average interest rate of 3.536786%. Robinson told the board the sale was “a very close sale,” with a Davidson firm from Colorado offering a near-competitive bid at 3.56%.
The board…
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