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Garfield County approves up to $50 million to refund Enid Public Schools lease revenue bonds
Summary
The Garfield County Board authorized the Garfield County Educational Facilities Authority to issue up to $50 million in lease revenue refunding bonds to refinance the Enid Public Schools Project Series 2016A; the resolution also authorized bond‑related documents and the selection of financing professionals.
The Garfield County Board of County Commissioners on July 27 approved a resolution allowing the Garfield County Educational Facilities Authority to incur indebtedness of not to exceed $50,000,000 to refund the Authority’s Educational Facilities Lease Revenue Bonds (Enid Public Schools Project) Series 2016A. Vice‑Chairman Reese Wedel moved to approve the resolution; the motion passed with Commissioners Clarence Maly, Reese Wedel and Joe Kegin Jr. recorded as voting "Aye."
The resolution authorizes issuing lease revenue refunding bonds or notes, tax‑exempt or taxable, to establish a reserve fund if needed, capitalize interest if appropriate, and pay costs of issuance, and expressly waives competitive bidding for the financing. The board also authorized execution of related documents, including a bond indenture, ground lease, sublease, official statements and a continuing disclosure agreement, and directed selection of professionals to effect the financing. The board approved the motion unanimously.
