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Oklahoma County awards bond sale, authorizes issuance amid split over jail financing
Summary
The Board of County Commissioners awarded a bond sale to BofA Securities at a true interest cost of 3.670349 and passed a resolution authorizing issuance of the bonds, prompting debate among commissioners over whether to proceed before voter approval to finish the jail project.
The Oklahoma County Board of Commissioners awarded a municipal bond sale to BofA Securities and approved a companion resolution authorizing issuance of the bonds, a move county officials said locks in lower interest costs for the countyand drew at least one commissionerto vote no.
Zach Robinson, a county financial presenter, told commissioners Moody's affirmed the county's credit rating and recommended awarding the sale to the low bidder. "We got seven bids for the bonds," Robinson said. "B of A Securities was the low bid on a true interest cost scale at 3.670349, well below our estimates." He said the county should have funds in the bank on Nov. 13 after closing.
The vote followed a sharply…
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