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Stillwater board approves $18.45M bond sale, taxable series and lease financing for athletics project
Summary
The Stillwater Board approved resolutions to sell Series 2026A bonds ($18,450,000), a taxable Series 2026B ($1,960,000), and authorized a lease/sublease financing (not to exceed $18,000,000) to fund remaining athletic construction; bids and a GMP for phase 1 civil and landscape work were also approved.
The Stillwater Board of Education on April (date not specified) approved multiple financing actions to support the new high school and the next phase of athletics construction.
Finance staff presented the resolution for Combined Purpose General Obligation Bonds Series 2026A, a $18,450,000 par sale with a seven-year maturity and an anticipated interest rate near 3.25 percent. Staff told the board roughly $11 million of that amount would repay part of the high-school lease, about $3 million would fund a competition-area agreement with the YMCA and the remainder (about…
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