The local branch of NBC Oklahoma submitted the winning bid for the second round of building bonds on the new seventh and eighth grade building for Kingfisher Public Schools.

Kingfisher’s board of education at its meeting last Tuesday accepted NBC Oklahoma’s bid of .659677% interest on $3.35 million of building bonds.

The net interest cost at that rate is $55,478.86, well below projections when the bond issue was presented to voters.

“About two-and-a-half years ago, we projected a rate of about 2 percent,” said Matt Reichert, a vice president at Stephen H. McDonald & Associates, the firm that served as financial adviser for the district.

“So this came through better than that projection.”

The Kingfisher branch’s bid was one of five received and the rate saves the district about $105,000 in interest as compared to the projections.

That bid just beat out Kingfisher’s F&M Bank bid of .663773 percent ($55,823.30).

Other bids came from the Exchange Bank of Skiatook (.669501 percent or $56,305); Bank of Western Oklahoma of Elk City (.670541 percent or $56,392.50); and BancFirst of Oklahoma City (.871998 percent of $73,335).

Voters passed a $16.75 million bond issue in September 2019 to construct the new building as well as build a new high school parking lot and make renovations to the APB.

The bond issue is to be paid out over a 10-year period with five equal payments to be made every other year (odd years).

The awarding of the low bid and subsequent issuance of the general obligation bonds were handled in a separate meeting from the one that included the regular agenda for the final meeting of the fiscal year.

In that latter agenda, Van Storm of Joe D. Hall General Contractors, updated the board on the progress of the project.

Joe D. Hall is the construction manager for the project.

“I don’t have any concerns with this job,” Storm said, noting that the building is still on schedule to be finished at the end of the year.

While some current projects have been delayed or others are struggling to get off the ground due to a shortage of materials, Kingfisher’s project hasn’t suffered any of those ills.

“It was perfect timing with respect to the materials,” Storm said.

He added that all “big ticket” items have already been delivered or have been ordered and are on track for on-time delivery.

“There will be something at some point that we can’t get, but it’s not going to be anything major that’s going to stop us,” Storm said.

“We’ve been blessed to be in the position we’re in with this project and I’m very grateful for that.”