District sells $3.03 million in bonds for building projects

What happened

On March 23, 2026 the board awarded its $3,035,000 General Obligation Combined Purpose Bond issue to American Heritage Bank of Sapulpa, working with the Baker Group of Oklahoma City, at a net interest cost of $506,609.25 and an average rate of 3.685771%. Voters had already authorized the borrowing at an election. The board also adopted post-issuance compliance procedures and designated the bonds as qualified tax-exempt obligations.

Why it matters to families

These bonds pay for the district's 2026 building projects and are repaid through an annual property tax levy, so the cost lands on local taxpayers for years. The $506,609 net interest cost is what borrowing the $3.03 million adds on top of the principal.

The evidence

The March 23, 2026 special meeting minutes record the motion 'to award the Issuance of General Obligation Combined Purpose Bonds in the sum of $3,035,000 by the school district to American Heritage Bank, Sapulpa, OK, in the association with the Baker Group, Oklahoma City, at a net interest cost of $506,609.25 and an average rate of 3.685771%', carried by the three members present.

The source