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Stigler board calls Aug. 25 special election on $2.9 million school bond; unanimously hires financial consultant
Summary
At a June 2 special meeting the Stigler Board of Education voted unanimously to call a special election on Aug. 25, 2026 to seek voter approval for $2.9 million in general obligation bonds for a track resurfacing and an elementary gym, and approved hiring Steven H. McDonald Associates as the district's financial consultant. The board discussed an estimated 11% tax impact and a 10‑year repayment plan.
Stigler — The Stigler Board of Education voted unanimously June 2 to call a special election on Aug. 25, 2026, asking voters to approve $2.9 million in general obligation bonds to pay for resurfacing the school track and building and equipping an elementary physical education gym.
J.C. McDonald, a consultant with Steven H. McDonald Associates, presented the proposal and told the board the plan would be a single-issue, 10‑year bond dated November 2026. "It's going to bump the sinking fund mill from zero up to a projected 8.47, which equates to about an 11% increase," McDonald said, adding, "for every $100 you pay in property taxes, you're looking at $11 more." He said taxpayers would not see the change until 2027 when tax bills are issued.
McDonald described the ballot language the board will place before registered voters and explained the mechanics of the subsequent bond sale. He said the proposition includes a statutory cap on interest of 10 percent; the district must competitively sell the bonds after voter approval and by law accept the lowest responsive bid. McDonald said current market projections are roughly 3.85 percent but that actual rates will vary at sale.
The resolution lists project allocations totaling $2.9 million: $500,000 to repair and resurface the track and $2,400,000 to construct and equip an elementary gym. McDonald told the board that at least 85 percent of bond proceeds will be expended on the listed projects and that the district's building fund could cover moderate overages. When asked about turf for the field, the consultant estimated that would cost about $1 million if pursued later.
Board members discussed the length of the borrowing and the tradeoffs between a longer term (lower annual tax increases) and higher total interest costs. One board member said the proposed plan was intended to minimize the annual tax burden while still completing the prioritized projects.
Votes at a glance - Motion to employ Steven H. McDonald Associates as financial consultant: Approved 5–0 (Brett Arm, Jennifer Turner, Kenny Witson, Carly Stolefield, David Huggin voting yes). Motion moved by Brett Arm; seconded by Jennifer Turner. Consultant's stated fee structure: 1.75% on the first $400,000, then 1% thereafter; cost of issuance $2,250; estimated fee on a $2.9 million issue about $34,250, payable only if the sale occurs. - Motion to call and hold a special election on Aug. 25, 2026 to authorize issuance of $2,900,000 in general obligation bonds: Approved 5–0 (Brett Arm, Kenny Witson, Jennifer Turner, Carly Stolefield, David Huggin voting yes). Motion moved by Brett Arm; seconded by Kenny Witson.
What happens next If voters approve the proposition on Aug. 25, district officials will proceed with a competitive bond sale; the district will use bond proceeds for the projects specified in the ballot language. The consultant said exact interest rates and final mill impact will depend on market conditions at the time of sale.
Reporting note: Meeting minutes and the resolution text as read at the June 2 meeting list the election date and project language. The transcript contains a numeric string regarding assessed valuation that is unclear; the board referenced an assessed valuation figure of roughly $43 million during discussion.
