County facility authority to serve as vehicle for Lomega bond issue
Kingfisher County commissioners approved documents Monday that will allow Lomega schools to be the first to use a county educational facility authority.
The authority will become the vehicle to sell up to $11 million in serial lease revenue bonds for the construction of a new Lomega High School and improvement of other school facilities.
Jeff Raley of the Floyd Law Firm of Norman said the Okarche School District was expected to serve as the initial user of the authority but the town of Okarche wanted to use its own trust authority rather than the county’s authority.
Lomega Supt. Steve Shiever, who attended the meeting, said the school’s construction manager has indicated work can start on the new high school in August.
Raley said the county will not have any financial responsibility by its action. The financing will be handled by Stephen H. McDonald and Associates of Norman.
Matt Reichert of McDonald and Associates, who also attended the meeting, projected an issue of under $11 million, based on current interest rates.
Lomega school district patrons approved a $15.4 million bond issue in February by a vote of 123-82.
Raley said the bonding plan, now in effect in some 300 districts across the state, allows schools to complete larger building projects in a timely manner, rather than having to pass multiple bond issues, and gives ad valorem taxpayers the advantage of having more even tax rates.
Paul Schulte of Schulte, Schneiter and Gibson in Kingfisher attended the meeting as a consultant on the school bond project.
Shiever thanked the board for its unanimous approval of the plan as well as district patrons for their approval of the lease revenue bond project.
Commissioners opened six-month bids on road and bridge materials and services and tabled action to allow County Engineer Nik Smith to tabulate them lowest to highest for a vote later.
Commissioners approved a contract with Tisdal and O’Hara to represent the county regarding ad valorem tax issues.
Commissioners also added Michelle Conner as receiving officer for the county assessor, visual inspection and re-appraisal accounts and approved agreements with several entities for retention of under-age detainees including Canadian County Juvenile Detention Center, Texas County Juvenile Detention Center, Western Plains Youth and Family Services at Northwest Oklahoma Juvenile Regional Detention Center and Beckham County Juvenile Detention Center.
Commissioners approved pipeline road crossing for the following:
• Brickman Fast Line – three three-inch water lines located as follow: nine miles east and two miles north of the U.S. 81/Dover-Crescent Road intersection, District 1; nine miles east and one mile south of 81-DC, District 1; 10 miles east and two miles north of 81-DC junction, District 2.
•Markwest Energy – 10 16-inch gas lines in District 3 starting three miles north of Okarche and ending six miles north and five miles west of Okarche.
• McDonald Land Services – six water lines in District 3, a 12-inch line starting two miles east and two miles south of Omega, 12-inch line located seven miles west and two miles south of Kingfisher, 12-inch line located one mile north and one mile west of Kingfisher, 10-inch line located five miles west and two miles north of Kingfisher, 12-inch line located five miles north and one mile west of Kingfisher and 12-inch line located seven miles west and two miles south of Kingfisher.
• Chisholm Oil and Gas Operating – 12-inch water line located three miles west and one mile north of Loyal, District 3.
County Clerk Jeannie Boevers, minute clerk for the board, completed the required documentation for the Lomega bond issue during the meeting, clearing the way for McDonald and Associates to begin sale of the bonds.