The fourth sale of $710,000 in building bonds for Henryetta schools took place Tuesday afternoon at a special school board meeting.
Those bonds are part of the bond election held in 2015 that financed construction of the kindergarten and STEM buildings.
Jordan Smith, the financial advisor for the school said two bids were received with interest rates both below the three percent rate. “We have had 50 bond sales this year and interest rates are going up,” he said.
The first bond sale in 2015 saw $1.2 million worth of bonds going for .85 percent interest.
Monday’s bid opening saw bids submitted from First National Bank of Okmulgee and United Missouri Bank. First National was partnering with Country Club Bank of Kansas City with a bid of 2.75 percent. The United Missouri Bank bid was 2.695 percent.
“These are both good bids,” Smith told school board members. The law says we have to accept the lowest bid.” That meant United Missouri was the winning bid. That same bank was the lowest bidder for the first bond sale in 2015.
More bond sales will be held in the coming years. The final bond sale will take place in 2025.