Publications iconKansas Register

Volume 40 - Issue 12 - March 25, 2021

(Published in the Kansas Register March 25, 2021.)

City of Salina, Kansas

Summary Notice of Bond Sale
$8,145,000*
General Obligation Internal Improvement Bonds, Series 2021-A

(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)

Bids

Subject to the Notice of Bond Sale dated March 15, 2021 (the “Notice”), electronic bids submitted through PARITY®, or emailed to the Municipal Advisor at the address below, will be received on behalf of the Director of Finance of the City of Salina, Kansas (the “Issuer”) until 1:00 p.m. (CST) April 12, 2021, for the purchase of the above-referenced bonds (the “Bonds”). The minimum bid price for the Bonds shall be as specified in the Notice.

Bond Details

The Bonds will consist of fully registered bonds in the denomination of $5,000 or any integral multiple thereof. The Bonds will be dated April 29, 2021, and will become due on October 1 in the years as follows:

Year Principal Amount*
2022 $325,000
2023 390,000
2024 400,000
2025 410,000
2026 420,000
2027 420,000
2028 420,000
2029 425,000
2030 435,000
2031 440,000
2032 445,000
2033 455,000
2034 465,000
2035 470,000
2036 480,000
2037 335,000
2038 340,000
2039 350,000
2040 355,000
2041 365,000

The Bonds will bear interest from the date thereof at rates to be determined when the Bonds are sold as hereinafter provided, which interest will be payable semiannually on April 1 and October 1 in each year, beginning on April 1, 2022.

Book-Entry-Only System

The Bonds shall be registered under a book-entry-only system administered through DTC.

Paying Agent and Bond Registrar

Treasurer of the State of Kansas, Topeka, Kansas.

Good Faith Deposit

Each bid shall be accompanied (in the manner set forth in the Notice) by a good faith deposit in the form of a cashier’s or certified check drawn on a bank located in the United States of America or a wire transfer in Federal Reserve funds immediately available for use by the Issuer in the amount equal to 2% of the principal amount of the Bonds.

Delivery

The Issuer will pay for preparation of the Bonds and will deliver the same properly prepared, executed, and registered without cost to the successful bidder on or about April 29, 2021, to DTC for the account of the successful bidder.

Assessed Valuation and Indebtedness

The Equalized Assessed Tangible Valuation for Computation of Bonded Debt Limitations for the year 2020 is $510,951,650. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $79,055,000, including general obligation notes to be issued simultaneously with the Bonds but excluding general obligation notes to be repaid with the proceeds of such notes and the Bonds.

Approval of Bonds

The Bonds will be sold subject to the legal opinion of Gilmore & Bell, P.C., Kansas City, Missouri, Bond Counsel to the Issuer, whose approving legal opinion as to the validity of the Bonds will be furnished and paid for by the Issuer, printed on the Bonds, and delivered to the successful bidder as and when the Bonds are delivered.

Additional Information

Additional information regarding the Bonds may be obtained from the undersigned, or from Stifel Nicolaus & Company, Incorporated at the addresses set forth below:

Issuer – Good Faith Deposit Delivery Address

City of Salina, Kansas
Debbie Pack, Director of Finance and Administration
300 W. Ash St., Room 206
Salina, KS 67402
785-309-5735
Fax: 785-309-5711
debbie.pack@salina.org

Municipal Advisor – Email Bid Delivery Address

Stifel Nicolaus & Company, Incorporated
Attn: David Arteberry
4801 Main St., Suite 530
Kansas City, MO 64112
816-203-8773
Fax: 816-283-5326
arteberryd@stifel.com

Dated March 15, 2021.

Debbie Pack
Director of Finance and Administration

* Subject to change, see the Notice.

Doc. No. 048962