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Dewey board awards $1.41 million building bonds to American Heritage Bank
Summary
The Dewey Public Schools board unanimously awarded $1,410,000 in General Obligation Building Bonds to American Heritage Bank (with BOK Financial Securities, Inc.), reporting a net interest cost of $175,447.60 and an average interest rate of 3.067266%.
The Dewey Public Schools Board of Education voted Jan. 9 to award $1,410,000 in General Obligation Building Bonds to American Heritage Bank, Sapulpa, Oklahoma, in association with BOK Financial Securities, Inc., Oklahoma City.
The motion, made by David Cleveland and seconded by Amanda Nichols, recorded a Net Interest Cost of $175,447.60 and an Average Rate of 3.067266%. The motion passed unanimously with recorded votes from Julie Davis, David Cleveland, Amanda Guilfoyle and Amanda Nichols.
Board minutes indicate the award and the financial terms were considered together with related procedural items, including a resolution authorizing the bond issuance and a separate resolution designating the bonds as qualified tax-exempt obligations. The award concludes the board’s action to sell the bonds under terms recorded in the minutes.
