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Board accepts sealed bids, approves sale of $13.2 million general-obligation bonds to UBS
Summary
The Indianola Community School District board accepted sealed bids and voted 7-0 to approve the sale of $13.2 million in general-obligation (GO) school bonds to UBS Financial Services, with closing scheduled for Sept. 30. The district’s municipal advisor said bond market results were favorable and Moody’s review supported the financing plan.
The Indianola Community School District Board of Education voted unanimously Sept. 8 to accept sealed bids and approve the sale of $13,200,000 in general-obligation school bonds to UBS Financial Services.
The action follows a competitive sale earlier that day in which board advisors reported seven bids and a narrow spread among the top proposals. The board approved a separate resolution authorizing the sale of general-obligation school bonds, series 2025, with a not-to-exceed amount of $28,440,000 for the series; the motion to approve UBS as the winning bidder carried 7 to 0 on a roll call vote.
Board members and the district’s municipal advisor said the sale produced favorable interest-cost…
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