Stillwater Public Schools Board of Education Agenda May 12 2026
BAM Insures Stillwater Schools’ $79M Lease Revenue Bonds
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Description
Build America Mutual Assurance Company insures the $79 million Stillwater Public Schools Educational Facilities Lease Revenue Bonds, guaranteeing principal and interest payments for investors. The bond insurance arrangement includes extensive rights for BAM under the Sublease Purchase Agreement and remains in force through the bonds’ 2032 maturity.
Contract Details
Vendor
BUILD AMERICA MUTUAL ASSURANCE COMPANY
Agency
Stillwater Public Schools, OK
Contract Type
INSURANCE
Document Date
May 12, 2026
Contract Term
Municipal Bond Insurance Policy effective for the life of the $79,000,000 Educational Facilities Lease Revenue Bonds (Series 2024), through final maturity on September 1, 2032
Renewal Date
2032-09-01
Renewal Info
Bond insurance remains effective for the life of the insured obligations and does not renew annually; its effective period corresponds to the outstanding term of the Series 2024 bonds through final maturity on September 1, 2032.
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