Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Dallas Center-Grimes board accepts JPMorgan bid, directs sale of up to $15 million in Series 2025 bonds
Summary
The Dallas Center-Grimes Community School District board voted unanimously in a special meeting to accept JPMorgan27s winning bid for its Series 2025 general-obligation school bonds and adopted a resolution directing the sale of up to $15,000,000; the district27s financial advisor said eight firms bid and cited the district27s strong credit rating for competitive pricing.
The Dallas Center-Grimes Community School District Board of Directors voted in a special meeting to accept the winning bid from JPMorgan and to adopt a resolution directing the sale of not to exceed $15,000,000 in general-obligation school bonds, Series 2025.
The board heard from Tim, a representative of Piper Jaffray, who told directors that eight firms submitted bids and that JPMorgan27s offer produced an average interest rate of 3.75 percent; he said the second-place bid from FHN Financial came in at approximately 3.76 percent. "Winning bid coming from JPMorgan, out of a New York based securities firm with an average interest rate of 3.75%," Tim said. He recommended the board accept JPMorgan27s bid.
Tim explained that the bond is made up of multiple maturity pieces with different coupon rates (for example,…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
