There were only two bids for consideration by Hennessey Board of Education members for $1.75 million in taxable building bonds and they unanimously accepted the 1.40% low bid from Bank of Oklahoma.

The bonds will be issued May 1, the board was told during their special meeting at noon Tues., March 3.

The net interest to the school is $49,000.

The other bidder was Community State Bank with UMB Bank, Kansas City at 1.85% with $64,750 in interest. “I’m hoping we will be

“I’m hoping we will be able to pay off the $1.75 million early,” Superintendent Dr. Mike Woods said during a board meeting the day before.

Tuesday’s interest bids were almost half of the board’s $1.475 million in bonds issued in April that were also part of the school’s $15.49 million bond issue approved by voters in April 2017.

The low bid in April was First Bankers’ Banc Securities at an interest rate of 2.834% with net interest of $83,603. Other bidders were Country Club Bank (2.89%) and Community State Bank with UMB Bank (3.163%).

The school’s almost $8.4 million event center/safe room is part of that expenditure, and it’s expected to have a grand opening in August. However, HHS seniors will also have their prom there in April and graduation ceremonies in May.

Other bond money has been used for roofing on other buildings, parking, paving, painting, and other projects. Jordan Smith with the

Jordan Smith with the school’s financial advisor Stephen L. Smith Corp. presented the bids to the board at both bid openings.

Smith has a minimum fee of $7,500 plus 1.75% of first $100,000 issued; plus $1.50% of second $100,000; plus 1.25% of third, $100,000 and 1.00% of all over $300,000 issued.

All board members were present for the Tuesday special meeting: President Patrick Griffin, Vice President Dr. James Matthew Matousek, Clerk Luke Lough, Joe Garrison and Cristopher Choate.

The board met in the administration office Tuesday since their regular seminar meeting room in the auditorium was being used for voting in the Presidential Primary.