McAlester bank buys school bonds

By KEN MILAM

POTEAU – First National Bank of McAlester on Monday was awarded the bid for $1.8 million in bonds issued by the Poteau School District.

The bank’s bid was $165,031 or 3.62766 percent.

Other bidders included Central National Bank of Poteau, $168,325; Country Club Bank of Prairie Village, Mo., $185,400; and Legacy Bank of Hinton, $191,000.

The board also approved a resolution providing for the issuance of the bonds.

J.C. Leonard of McDonald and Associates told board members that two other items on the agenda were unchanged from the previous years and required no action. They were a review of compliance policies and disclosure obligations, such as audits.