Wednesday, May 21, 2014

School Board Sells Bonds for Building

The Sallisaw School Board approved $990,000 in general obligation building bonds for the new middle school at a special meeting Wednesday. School Superintendent Scott Farmer said the board received four bids on the bonds, and awarded the contract to National Bank of Sallisaw, which submitted a 0.45 interest rate bid. "We were ecstatic," Farmer said. That's because the interest rate is lower than last year's winning bid, at 0.534 percent from a Kansas bank. Farmer explained the bonds are to be sold annually, over a 12-year span, and this year is the second year for the sale. The school board members also toured the middle school construction site. Farmer said the construction is on target for a fall 2015 opening. The new school has a $15.8 million budget. Stay tuned to KXMX for the latest news, or visit By Sally Maxwell, Senior News Director

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