EDMOND — Edmond School Board members voted 4-0 to award $8.44 million in school bonds to the investment bank of Piper Jaffray of Minneapolis.
The board meeting was held Tuesday on the advice of bond adviser Chris Cockran. Cockran said at the June meeting the board might get a better rate on its bond sale if banks had another full day to bid following the July Fourth weekend.
Apparently that was the case, according to Bret Towne, assistant superintendent for general administration.
“We saved a half a percent,” he said. “On millions of dollars, that’s tens of thousands of dollars.”
Cockran said this was the fourth-lowest rate the district had received.
The bonds will be financed at a rate of 1.14729 percent.
Towne said the latest funds are earmarked for the following: technology, $850,000; transportation, $895,000; safety and security, $200,000; child nutrition/fine arts/athletic and maintenance equipment, $750,000; Sunset Elementary heating and air-conditioning replacement, $750,000; Summit Middle School flooring replacement, $500,000; Sunset kitchen renovation, $1 million; Heartland Middle School parking lot and athletic fields, $2,960,000; and playground equipment, $500,000.
Heartland is the new middle school to be built on Pennsylvania between Covell and Danforth at a cost of $21.2 million. It’s scheduled to open in the fall of 2016.