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Salina board approves sale and issuance of $800,000 building bonds, accepts low bank bids
Summary
The Salina Public Schools Board of Education voted 4–0 (one absent) to accept low bids from Lakeside Bank of Salina and Bank of Oklahoma at 3.6185% interest and to authorize issuance of $800,000 in Building Bonds dated Aug. 1, 2026; the board also designated the bonds as qualified tax‑exempt.
The Salina Public Schools Board of Education on June 12 voted to accept low bids from Lakeside Bank of Salina and Bank of Oklahoma for the sale of $800,000 in Building Bonds at an interest rate of 3.6185 percent and authorized issuance of those bonds dated Aug. 1, 2026.
"Motion made by Leroy Monk and seconded by Greg Rice to accept the low bid of Lakeside Bank of Salina and Bank of Oklahoma at an interest rate of 3.6185 on the sale of the $800,000.00 Building Bonds, dated: August 1, 2026," the minutes record. The motion carried with Randy Pritchett, Jackie Ball, Greg Rice and Leroy Monk voting yes; Casey McWhirt was recorded as absent.
In a separate but related motion the board voted to "authorize the issuance of the $800,000.00 Building Bonds, dated: August 1, 2026, and fixing other details for the issuance of said bonds" (motion by Leroy Monk, seconded by Jackie Ball). The minutes show the same 4–0 vote with one absence.
The board also voted to designate the bonds as "Qualified Tax‑Exempt" obligations under Section 265(b)(3)(B) of the Internal Revenue Code. The minutes contain one line that lists the designation motion with the bonds "dated August 1, 2006," while the other motions in the file use 2026; the discrepancy appears to be a typographical error in the minutes and the board record otherwise references Aug. 1, 2026.
The minutes do not specify the planned use of bond proceeds, underwriting fees beyond the stated interest rate, or a closing schedule; those details were not included in the public minutes provided.
