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Salina board approves $180,000 building bonds, awards bank bid at 3.975%
Summary
The Salina Public Schools Board approved issuing $180,000 in building bonds and awarded the lowest bid to Lakeside Bank of Salina and Bank of Oklahoma at 3.975%; motions passed unanimously among members present and the meeting adjourned at 12:10 p.m.
The Salina Public Schools Board of Education voted Oct. 8 to issue $180,000 in building bonds and awarded the lowest bid on the bonds to Lakeside Bank of Salina and Bank of Oklahoma at an interest rate of 3.975%.
Board President Leroy Monk made the motion to award the bid, which Clerk Jackie Ball seconded. The award vote was recorded as Jarred Sorum — Yes; Jackie Ball — Yes; Leroy Monk — Yes; Greg Rice — Absent; Chad Tucker — Absent, giving the motion three yes votes and two absences.
The board also approved a resolution providing for the issuance of the bonds, including prescribing the form of the bonds, providing for registration, and directing the levy of an annual tax to pay principal and interest. That resolution was moved by Leroy Monk and seconded by Jackie Ball and passed by the same 3–0 tally among members present.
Separately, the board designated the 2024 general obligation bonds as "Qualified Tax-Exempt Obligations" under Section 265(b)(3)(B) of the Internal Revenue Code of 1986; that motion was moved by Leroy Monk, seconded by Jarred Sorum, and approved by the present members. The transcript records that these actions were authorized under authority of an election previously called and held for that purpose.
The special meeting was called to order at 12:00 p.m. and adjourned at 12:10 p.m.
