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Haileyville Board approves $1.4 million general obligation building bond, awards purchase to First National Bank & Trust Co.
Summary
At a Dec. 4 special meeting, the Haileyville Board of Education unanimously approved issuance of $1,400,000 in General Obligation Building Bonds, awarded the bond purchase to First National Bank & Trust Co. (McAlester) in association with UMB Bank, and designated the issue as Qualified Tax-Exempt Obligations under the Internal Revenue Code.
The Haileyville Board of Education on Dec. 4, 2025 voted unanimously, with four members present, to issue $1,400,000 in General Obligation Building Bonds and to award the bond purchase to First National Bank & Trust Co., McAlester, Oklahoma, in association with UMB Bank, N.A., Kansas City, Missouri.
The motion to award the bonds was made by Board Clerk Lindsay Curtis and seconded by Board President Jared Hauff; the minutes record votes of Hauff, Curtis, White and Griffin in favor and note that David Johnston was absent. The board also approved a related resolution prescribing the form of the bonds, providing for registration, and authorizing the levy of an annual tax to pay principal and interest.
At the same meeting, the board voted to designate the 2026 general obligation bonds as “Qualified Tax-Exempt Obligations” pursuant to Section 265(b)(3)(B) of the Internal Revenue Code of 1986. That designation is recorded by motion (moved by Curtis, seconded by White) and approved by the board members present.
All motions tied to the bond package carried by roll-call votes recorded in the minutes as unanimous among members present. The minutes do not state further details about how bond proceeds will be used beyond the designation “General Obligation Building Bond,” nor do they record interest rates or purchaser pricing. The special meeting adjourned at 1:06 p.m.
Actions taken at the meeting include formal approval of the bond issuance resolution, award of the bond purchase, and the tax-exempt designation; each action was approved by the same four members who were present.
