The Norman Transcript

Headlines

February 12, 2013

Low-interest bonds continue

NORMAN — Words like “stunning” and “outstanding” were used at Monday evening’s Board of Education meeting by Chris Cochran of Capital BOSC Inc. to describe the district’s financial standing.

Cochran, the board’s bond advisor, presented good news concerning the Series 2013 portion of the 2009 Bond Issue, announcing that NPS’ high credit rating of AA2 had once again earned the district a very low interest rate.

Minneapolis firm Piper Jaffray, which saved taxpayers an estimated $2 million through its low interest rate on the previous bond series in March 2012, was again awarded transaction.

“History has repeated itself,” Cochran said. “If you notice, last year’s interest on a $23 million bond was 0.895 percent. This year is 0.893 percent, which is remarkable.”

Examining all four bond sales now paid, totaling approximately $81 million, NPS’ average interest rate on the sales has been about 1.2 percent, meaning the vast majority of tax dollars used to repay the bonds will directly fund the projects themselves and not repayment.

“Sometimes it doesn’t go this well, and when it does, you have to be happy,” Cochran said.

Good news also came to the board concerning the final project of the 2009 Bond Issue series, the Administrative Services Center, which raised serious concerns when the construction portion of the project weighed in nearly $500,000 over budget.

Bids for phase III of the project, encompassing the interior finish for both the new building and the remodeled existing building, came in about $100,000 less than expected.

“As a result of this bid and other savings, we’re actually now below budget on the entire project,” said Gary Clark of CMS Willowbrook. “After the one piece came in high, we worked hard on it, and it’s nice to have a little breathing room with things that come up.”

Additionally, Clark reported that the project is still on schedule for completion in mid-December, with Assistant Superintendent Roger Brown projecting that all Center staff will be in their appropriate locations at the return of Christmas break.

Text Only | Photo Reprints
Headlines
  • Body 1 Police identify woman found dead Monday

    Norman police have identified a woman found dead in her home at 2202 Donna Drive Monday afternoon. Police responded at 1:25 p.m. to the residence of Cassandra Thompson, 30, after receiving a report that she had not shown up for work ...

    July 29, 2014 1 Photo

  • Residents speak out about document regarding shelter photos

    Norman and metro-area residents showed up in overwhelming numbers, many in red shirts, for an Animal Shelter Oversight Board meeting Monday night demanding for their opinions to be heard....

    July 29, 2014

  • Mixon’s attorney says athlete acted in self-defense

    The attorney for Oklahoma running back Joe Mixon says the incident that left a 20-year-old female OU student with multiple facial fractures was a case of self-defense. “This past Friday morning, Joe Mixon found himself in a situation ...

    July 29, 2014

  • Cool snap brings heat relief to Oklahoma, Arkansas

    OKLAHOMA CITY — The dog days of summer are coming in with a whimper. Weather forecasters say a cold front headed for Oklahoma and Arkansas will bring unseasonably cool temperatures and a chance of rain through next week....

    July 29, 2014

  • Be ready for ‘prolonged’ Gaza war, prime minister says

    GAZA CITY, Gaza Strip — Signaling an escalation of Israel’s Gaza operation, Prime Minister Benjamin Netanyahu told Israelis Monday to be ready for a “prolonged” war, and the military warned Palestinians in three large neighborhoods to ...

    July 29, 2014

  • FBI defends search for Oklahoma City bombing video

    SALT LAKE CITY — The FBI thoroughly searched its archives and found no evidence that more videos of the Oklahoma City bombing exist, agency employees told a judge Monday in a trial that has rekindled questions about whether any others were ...

    July 29, 2014

  • County moves forward on nursing home bonds

    Cleveland County commissioners on Monday approved a resolution authoring a county trust to issue up to $15 million for a nursing home on the site of the former Whispering Pines nursing home at 501 E. Robinson St....

    July 29, 2014

  • Deal to improve health care costs $17B

    WASHINGTON — A bipartisan deal announced Monday would authorize about $17 billion to help veterans avoid long waits for health care, hire more doctors and nurses to treat veterans and make it easier to fire executives at the Department of ...

    July 29, 2014

  • Breast Care Center will relocate to HealthPlex

    The Norman Regional Health System will move its Breast Care Center to the HealthPlex campus, making it more accessible for patients, hospital officials said Monday. At its monthly board meeting, the Norman Regional Hospital Authority ...

    July 29, 2014

  • Little Axe Health Center hosting blood drive

    Norman-area blood donors this summer will not only save lives when they donate with Oklahoma Blood Institute (OBI), they’ll also get “Feel Cool” T-shirts and two tickets to the Oklahoma City Zoo....

    July 29, 2014