Lawrence school board to take steps needed for $43.5M bond sale
photo by: Nick Krug
The Lawrence school board will take steps Monday needed to prepare for the sale of $43.5 million in general obligation bonds later this month.
On the board’s agenda is an item authorizing the sale on Sept. 24 of the remaining half of the $87 million in bond debt that voters approved in May 2017. The school board sold the first $43.5 million of that bond issue in September 2017. Hutchinson, Shockey, Erley & Co., of Chicago, was the lowest bidder for that first bond sale, charging the district an interest rate of 2.95 percent for the 20-year bonds.
In addition to authorizing the coming second $43.5 million bond sale, the school board will be asked to approve a $25,000 contract with George K. Baum & Company to serve as financial adviser for the transaction, and to hire Gilmore & Bell as bond legal counsel at the cost of $60,000. Both firms were contracted for the 2017 bond sale.
The board also will be asked to support the Tobacco 21 initiative, which seeks to have local jurisdictions raise the minimum age to purchase tobacco products to 21. Vicki Collie-Akers, associate director of health promotion research at the University of Kansas, and Denise Johnson, district assistant director of health and research, will give the board reports on the need for the Tobacco 21 initiative.
The school board will meet at 7 p.m. Monday at the district offices, 110 McDonald Drive.