In a special meeting Friday afternoon, members of the Shawnee Board of Education sold $6 million in Taxable Building Bonds to the lowest bidder for $387,880.
That bid for financing of the bond came from First United Bank Trust, which partnered with Country Club Bank out of Kansas City with a $600 premium and a 2.558575 percent average interest rate.
The bonds, sold for funding as part of a bond issue package from the 2016 bond election, will be used for construction costs to build a new elementary school in the area of 45th Street west of Kickapoo in northwest Shawnee
Board members also approved an agenda item that will allow their financial advisor to register all the necessary paper work required upon selecting a bid. Legally, the Board had to accept the lowest dollar amount bid.
There were five bids the board looked over before making their final decision.
During the meeting, Board members also nominated and selected new officers including Larry Walker as the new president, April Strobe as the new vice president, Keith Sandlin as the new second vice president and Mark Betterton as the new Board Clerk.