School board approves two bond series totaling about $5.5 million

The Bartlesville School Board approved the sale of two bond series at its meeting, receiving bids and awarding both to the low bidder, BOK Financial Securities.

Finance staff presented the 2025 A Series tax-exempt general obligation bond for $4,460,000 with an eight‑year term. The low bid came from BOK Financial Securities with a true interest cost (TIC) of 3.754489%, according to the presentation. Staff recommended awarding the bonds to BOK; the board moved to receive the bids and award the sale and voted in favor.

The board also considered the 2025 B Series taxable bonds for $1,035,000, a short-term issue maturing in 2027. BOK Financial was again the low bidder with a rate reported at 4.226789%. Board members discussed how the two series' rates and terms will affect the district's mill levy projections and were told that the taxable and tax-exempt components were expected to largely offset in the district's mill-levy calculations.

Motions to receive bids, award the bonds to BOK Financial, and to authorize issuance were made, seconded, and approved by the board. The transcript records multiple affirmative "Aye" votes for each motion; a detailed roll-call tally by individual board member name was not provided in the transcript.

Earlier in the meeting, staff had reviewed the district's general and building funds: a reported approximate $1,000,000 increase in the general fund and a roughly $1,000,000 planned decrease in the building fund, with a June 30 target fund balance of about $4,000,000 to ensure liquidity for the large payroll run in June.