School board approves $3.925 million combined-purpose building bonds; UMB Bank wins low bid at 3.594%

The Board of Education of Independent School District No. 93 (Pottawatomie County) voted on May 8, 2025, to accept the low bid from UMB Bank, Kansas City, for the sale of $3,925,000 in Combined Purpose Building Bonds at an interest rate of 3.594 percent. The sale is dated July 1, 2025; the motion to accept the low bid was made by Turner Bass and seconded by Jeanne Swinney, and the vote was recorded as Yes: 6, No: 0, Absent: 1 (Kristen Wilson).

At the same meeting the board passed a resolution authorizing the issuance of the bonds, setting the form of the bonds, providing for registration, and providing for the levy of an annual tax to pay principal and interest. The motion to authorize issuance was made by Jeanne Swinney and seconded by Turner Bass; the vote on that motion matched the bid acceptance (6–0 with one absence). The board also voted to designate the 2025 general obligation Combined Purpose Building Bonds as "Qualified Tax-Exempt Obligations" pursuant to Section 265(b)(3)(B) of the Internal Revenue Code of 1986; that motion was made by Turner Bass, seconded by Mandy Hillhouse, and carried by the same 6–0–1 tally.

The minutes record the formal motions and roll-call votes but do not specify the use of the bond proceeds beyond the "Combined Purpose Building Bonds" label or the exact bond counsel selected. The minutes also note the district will levy an annual tax to pay principal and interest on the bonds per the resolution. The special meeting was held at the Board of Education administration building in Shawnee and adjourned at 12:20 p.m.