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Guthrie board approves $3.2 million general-obligation bond sale and related contracts
Summary
The Guthrie Public Schools Board approved a $3.2 million combined-purpose general obligation bond series 2026, set the sale for May 11, and approved related vendor contracts including paying agent and bond counsel.
The Guthrie Public Schools Board of Education voted April 13 to approve a $3.2 million combined-purpose general obligation bond (Series 2026) and related agreements to support the sale.
Board members discussed the bond's structure, which carries a six-year term with a first maturity of $200,000 and remaining maturities of $750,000. Staff said the maturities were structured to preserve the district's established levy target while allowing the district to access funds sooner to begin summer projects rather than waiting until August. The board set the bond sale date for May 11 at 11:00 a.m. and approved distribution of the preliminary official statement.
In related business the board approved a contract with Bank First (Oklahoma City) to serve as registrar and paying agent and authorized Hillborne & Weedman (Tulsa) to serve as bond counsel and disclosure counsel for the sale. Board materials noted the growth in assessed valuation provided flexibility to accelerate certain capital projects and to attempt to contain inflation-related costs.
All motions were moved, seconded and carried by roll call. Staff indicated they will present bids at a subsequent meeting following the May 11 sale.
No member recorded a dissenting vote during these items.
