Bartlesville board authorizes bond sale notices, taxable series and $3.6M technology lease

At a meeting of the Bartlesville Board of Education, trustees approved three financing actions to support district operations and technology: a notice of sale for $4,460,000 in general obligation bonds, authorization for a $1,035,000 taxable bond series to pay lease obligations, and a $3,600,000 lease-purchase agreement for district technology equipment.

The board discussed the 2025A series first. District presenters said the $4,460,000 issue is intended for non-construction needs — technology, plant services, transportation and textbooks — and carries an eight-year maturity. Staff described a projected interest rate of about 3.5 percent and said the district plans to sell the bonds in April; trustees authorized moving forward with the notice of sale. The bond counsel/issuer language in the presentation referenced the election authorization under which the bonds are being issued.

Board members then approved the 2025B taxable series, a $1,035,000, two-year issue. Staff said proceeds will be used to make payments toward lease-purchase obligations: the 2021 lease-purchase payment for transportation and the 2023 lease payment (for the Wayside / Jane Phillips project). Staff explained the shorter, taxable term is intended to minimize interest costs on taxable maturities.

Finally, the board authorized a lease-purchase agreement for technology equipment, totaling $3,600,000 and authorized under the 2023 election authorization. Trustees authorized staff to take the technology purchase to bid; presenters said they expect bids in mid-March and would return to district leadership for final award and closing by the end of March.

Each of the three items was put to a formal motion and passed by voice vote during the meeting. No individual bond sale or final rate was set at the meeting; staff said sale documents and final pricing will be brought back at the time of sale (scheduled for April for the 2025A issue).