Board starts $25 million bond sale and approves related construction contracts
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Summary
The board authorized the sale of $25 million in general obligation bonds approved by voters, approved BOK Financial renewal for bond advisory, and awarded subcontract bids for Sequoia Middle School renovation and retaining walls at a new elementary site; the board also approved a large HVAC purchase for multiple schools.
The Edmond Public Schools Board approved a resolution to begin the sale of $25 million of the district's general obligation bonds that voters approved on Feb. 13, 2024. The board also approved related construction and procurement actions, including subcontract awards and a renewal of bond advisory services.
District staff said the $25 million sale is the third series of a four-part plan from the February 2024 election; the funds will be split roughly $23.5 million from the first question and $1.5 million from the transportation question. Bids for the bond sale will be accepted until 9:30 a.m. on Feb. 3; staff said principal payments are structured in four installments of $6,250,000 payable in years two through five of a five-year plan.
The board approved a renewal of financial advisory services with BOK Financial Securities Inc. (fees unchanged since December 2018) to support the bond sale process.
Separately, the board voted to award a subcontract package under the construction manager for Sequoia Middle School renovation in the amount of $2,056,440 to be paid from bond funds. The board also approved a subcontract award for retaining walls at the new elementary site at Covell and Air Depot to Lithco (contract amount $549,819.72), paid from bond funds. District staff explained the retaining walls vary in height from about 3 feet to roughly 12 feet; one official estimated concrete retaining walls' life expectancy around 50 years.
The board also approved purchase of HVAC units and controls from Trane for Central Middle School, Cheyenne Middle School, Edmond Memorial High School, and Santa Fe High School, described as a larger-than-normal annual summer HVAC project because Cheyenne requires nearly a full-building replacement.
Each of these items passed on recorded board votes.