Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Board accepts low bid for $4.02 million bonds, authorizes issuance and designates them as qualified tax-exempt
Summary
During the May 4, 2026 special session the Shawnee school board accepted the low bid from Bank of Oklahoma and American Heritage for the $4,020,000 Combined Purpose Building Bonds at 3.1435% and passed resolutions authorizing issuance and designating the bonds as "Qualified Tax-Exempt Obligations" under IRC Section 265(b)(3)(B).
The Board of Education of Independent School District No. 93 accepted the low bid for its $4,020,000 Combined Purpose Building Bonds and approved related resolutions during the May 4, 2026 special meeting.
Member Casey White moved, and Clerk Mandy Hillhouse seconded, that the board accept the low bid of Bank of Oklahoma and American Heritage at an interest rate of 3.1435% on the sale of the $4,020,000 Combined Purpose Building Bonds, dated June 1, 2026. The motion carried by the members present (4–0). The minutes record the specific interest rate and the bond date but do not include the full bond contract documents in the posted minutes.
The board also voted to authorize issuance of the $4,020,000 bonds and to adopt a resolution designating the 2026 general obligation bonds as "Qualified Tax-Exempt Obligations" pursuant to Section 265(b)(3)(B) of the Internal Revenue Code of 1986. "Motion made by Casey White and seconded by Mandy Hillhouse to accept the low bid of Bank of Oklahoma and American Heritage at an interest rate of 3.1435% on the Sale of the $4,020,000.00 Combined Purpose Building Bonds, dated: June 1, 2026," the minutes record for the bid acceptance; separate motions for authorization and designation are recorded in the minutes as carried by the same 4–0 margin.
The minutes state the bonds were authorized in concept and the board fixed other details of the issuance; specifics such as bond counsel name, final interest calculations, and closing logistics are not included in the public minutes. The board cited the prior election authorizing issuance of combined purpose building bonds but the minutes do not reproduce election documentation.
