Armorel School District

Armorel School District is a public K12 school located in extreme northeastern Arkansas, east of the City of Blytheville and close to the Mississippi River. The district boundaries include mainly agricultural land, but they also encompass several steel mills situated on the Mississippi River.

The Solution

First Security Beardsley served as the Municipal Advisor for the District and worked with the District in assisting them with a financing that provided funds to construct and equip a new elementary school on the District’s campus, as well as to provide funds for improvements and upgrades District wide.

The Difference

First Security Beardsley worked hard to serve our client in extraordinary ways by…

  1. Working with the District to understand their financial position. Many of the steel mills and related industries in the District have Payment in Lieu of Taxes (PILOT) agreements with the County, so they are not required to pay property taxes.  When considering that revenue, along with property taxes, we were able to advise the District to ask voters to continue paying the existing millage rate without adding any new mills.
  2. First Security Beardsley also marketed the bonds using a two year Optional Call. This will allow the District increased flexibility in the future should interest rates drop or a new Project develops that will need financing.
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