Board awards $4.46M tax‑exempt and $1.035M taxable 2025 bonds to BOK Financial
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Summary
The Bartlesville school board accepted bids and approved issuance of two 2025 bond series (tax‑exempt Series A and taxable Series B), awarding both low bids to BOK Financial Securities and voting unanimously to authorize issuance.
The Bartlesville Public Schools Board of Education accepted bids and authorized the issuance of two bond series on motions the board passed unanimously.
The district presented bids for the 2025A combined‑purpose general obligation tax‑exempt series totaling $4,460,000. The low bid came from BOK Financial Securities with a true interest cost of about 3.7545 percent; Piper Sandler and Robert W. Baird submitted higher bids. Board members voted to award the 2025A bonds to BOK Financial and to adopt the resolution authorizing issuance.
The board also considered the 2025B taxable series, a shorter‑term issue of $1,035,000 maturing in 2027. Two firms bid; BOK Financial was again the low bidder at a rate of about 4.226789 percent. Board members voted to award the taxable series to BOK Financial and then approved issuing the bonds.
A district finance presenter told the board the tax‑exempt rates were higher than last year while taxable rates were comparatively lower; the presenter said the district’s fund balance is a key factor for rating agencies and that the district’s ratings remained unchanged. The presenter also said the bond sales were part of the district’s authority from the 2023 bond election authorization.
On each motion the board voted in favor without recorded dissents. The board’s motions to receive bids, award to BOK Financial and adopt authorizing resolutions were each moved, seconded and approved by voice vote.