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Norman Public Schools approves sale of $40.8 million and $2.775 million general obligation bonds; Moody's rating affirmed
Summary
Norman Public Schools on Feb. 24 voted unanimously to award two general obligation bond sales — $40,845,000 to JPMorgan Securities LLC and $2,775,000 to Northland Securities — after BOK Financial Securities reported Moody's had affirmed the district's credit rating.
Norman Public Schools on Feb. 24 voted unanimously to award two general obligation (G.O.) bond sales after a presentation from BOK Financial Securities that included confirmation the district's credit rating had been affirmed by Moody's.
Zach Robinson, representative of BOK Financial Securities, told the board the first sale — $40,845,000 in G.O. combined-purpose bonds — received four bids and that JPMorgan Securities LLC was the low bidder at an average rate of 3.146366%. Robinson said Moody's affirmed the district's rating at "double A 3," a designation he described as comparable to an S&P AA-minus, and said the high…
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