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Board adopts resolution authorizing $2.27M general obligation building bonds and tax levy
Summary
The Marlow Public Schools Board adopted a resolution authorizing issuance of $2,270,000 in General Obligation Building Bonds, prescribing form and providing for an annual tax levy to pay principal and interest; the vote was unanimous on April 22, 2025.
The Marlow Public Schools Board adopted a resolution providing for issuance of $2,270,000 in General Obligation Building Bonds, prescribing the form of the bonds, providing for registration and establishing a levy of an annual tax to pay principal and interest. The motion was made by Mark O'Neal and seconded by Cody Bannister; the minutes record unanimous "Yea" votes from Bannister, Karmen Farmer, Larry Johnson and O'Neal.
The resolution was presented and approved as an agenda item; the minutes summarize the content of the resolution (form of bonds, registration, levy of an annual tax) but do not append the full resolution text to the minutes. The minutes do not include a scheduled effective date beyond the date of passage nor the detailed repayment schedule or tax rate; those elements are typically finalized in bond documents and tax levies following sale and assessment.
The board recorded the resolution's adoption in the minutes of the April 22, 2025 special meeting.
