Bids for the sale of $1.58 million in building bonds must be received by noon Monday, May 16, by the Hennessey Board of Education at the Eagle Event Center Conference Room.

The board will receive bids by sealed bid, facsimile bid, or electronic bid and the lowest rate of interest will be considered by the board that also has the right to reject all bids.

The bonds are to mature annually in two years from their date of sale until paid.

Board members approved, and set the date for the sale, during its April 11 regular meeting.

Members also employed Stephen L. Smith Corp. as their financial consultants at that meeting.

Smith’s fees are 1.75% for the first $100,000 issued plus 1.50% of the second $100,000 issued plus 1.25% of the third $100,000 issued plus 1.00% of all over $300,000 issued.