Interest rate bids were close on the Hennessey Public Schools’ sale of $1.7 million in taxable building bonds, and The Bank of Oklahoma was awarded the best and lowest bid at 4.498%.

The interest is due May 1, 2026.

Other bidders were Country Club Bank, Leawood, Kan., 4.4985%; Community State Bank of Hennessey and UMB Bank, Kansas City, Mo., 4.511%, and Exchange Bank of Skiatook, 4.75%. The bid opening was noon Tuesday, March 4, during a special school board meeting in the conference room at the Eagle Event Center.

The bid opening was conducted by Jordan Smith who is with Stephen L. Smith Corp. of Jenks.

The votes were unanimous to receive the bids and accept the best and low bid and the school’s $152,932 net interest cost.

Interest Was 5.15% Last Year

Last year in May the board sold $1.215 million in taxable building bonds at 5.15%.

There were eight bidders then and The Baker Group of Oklahoma City and 1st National Bank of Okeene were the lowest bidders. The highest was 6.00% by BOK Financial Securities Inc., Oklahoma City.

Two More Bond Issues Left This week’s “meeting and sale of bonds is the May 2025 payment,” Superintendent Jason Sternberger told the KT&FP after the meeting.

“So with that one, and the remaining two, the balance on the project is approximately $4.15 million,” he said.

Two-year issues started in June 2017 ($1.64 million); July 2018 ($865,000); 2019 ($1.475 million); 2020 ($1.75 million); 2021 ($1.6 million); 2022 ($1.58 million); 2023 ($1.215 million); 2024 ($1.215 million); 2025 ($1.7 million).

The last two issues are scheduled in July 2026 ($1.215 million) and July 2027 ($1.235 million).

Bond Issue Approved in 2017

The $15.49 million building bond issue was approved by Hennessey voters in 2017 in a 338208 vote (61.9%). A 60% approval rate is required on school bond issues.

There were 1,704 registered voters in the school district in 2017, yet only 546 voted.

The bulk of the first issue of $1.64 million was spent on “The Dome,” which includes a storm shelter, basketball court and stands, coach offices, admin offices, conference room, locker rooms, bathrooms and a walking trail open to the public. That money was also used to replace building roofs.

At the Meeting

Board members present for this month’s special meeting were President Patrick Griffin, Clerk Luke Lough, Dakota Semrad and Amy Charmasson. Absent was Vice President James M. Matousek. Lance Painter, school board-member- elect, was also at the meeting.

The only bidders at the meeting were Carl Storm and Tim Riddle of Community State Bank.

Also attending were Offi ce Manager and Minutes Clerk Timberly Jech.