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Union City awards $475,000 in building bonds to The Baker Group at 4.774190%
Summary
The Union City Board of Education voted 4–0 on June 4 to accept the low bid from The Baker Group for $475,000 in General Obligation Building Bonds at an interest rate of 4.774190%. The board also adopted a resolution authorizing the bonds and ordered a tax levy to secure repayment beginning 2027–28.
The Union City Board of Education voted on June 4 to accept the low bid for $475,000 in General Obligation Building Bonds and to authorize issuance of the bonds. Laura Reed moved to accept the low bid; Chris Dugger seconded and the motion passed 4–0 with Lindsey Garrett absent. "Motion to accept the bid from The Banker Group, Oklahoma City, Oklahoma at the amount of 4.774190 %." appears in the meeting minutes and was recorded as adopted.
The board subsequently adopted a resolution providing for the issuance of the bonds, prescribing bond form, directing registration procedures and ordering a continuing annual tax to pay principal and interest. The resolution describes the bonds as "General Obligation Building Bonds of 2026" in the principal amount of $475,000, with stated maturing on July 1, 2028; the resolution also directs a sinking-fund tax levy beginning in the 2027–28 year. The minutes of sale list competing bids from The Baker Group (Oklahoma City) at 4.774190%, The Exchange Bank (Skiatook) at 4.875000%, and Northland Securities (Minneapolis) at 4.938000%; the board voted to award the bonds to The Baker Group upon fulfillment of contract terms.
