The Duncan Banner


June 11, 2014

School board approves selling bonds

DUNCAN — Bids were received from four groups as Duncan Public Schools looked to sell its bond funds from the 2012 bond election.

During a special meeting Tuesday, the Duncan Board of Education approved selling the bonds to Baker Group out of Oklahoma City. Baker’s bid was a net interest cost of $33,345, which is equivalent to 0.675 percent. The Baker bid was the lowest bid received by the school board.

Other bids received included one from United Missouri Bank (UMB) at a net interest cost of $36,556, which is equivalent to 0.74 percent; one from Country Club Bank with a net interest cost of $39,273 and a percentage at 0.795 percent; and a final bid from BankFirst with a net interest cost at $39,520 with a percentage at 0.8 percent.

The school district has $2,470,000 in general obligation building bonds. The 2012 bond issue, which passed by more than 60 percent of the vote, was aimed at renovating the Duncan High School. This was the last bond issue sought and approved for Duncan Public Schools.

In other action:

  • The school board approved purchasing furniture for six high school classrooms.

This purchase was a reaction to finding out more high school classrooms would be completed through the renovation project. For each classroom completed, new furniture is being purchased.

The total number of classrooms completed by the beginning of the school year is 15.

  • The school board also approved the purchase of janitorial equipment, which will help with the maintenance of school floors. The equipment costs $47,620.

The new equipment will make the floor maintenance easier for the school site custodians and will free them up to perform other maintenance tasks, Superintendent Sherry Labyer said.

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