Publications iconKansas Register

Volume 40 - Issue 14 - April 8, 2021

(Published in the Kansas Register April 8, 2021.)

City of Liberal, Kansas

Summary Notice of Bond Sale
$3,775,000*
General Obligation Bonds, Series 2021-B

(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)

Bids

Subject to the Notice of Bond Sale dated March 23, 2021 (the “Notice”), facsimile, email, and electronic bids will be received on behalf of the Clerk of the City of Liberal, Kansas (the “Issuer”) in the case of email or facsimile bids, at the address set forth below, and in the case of electronic bids, through PARITY® until 10:00 a.m. (CST) April 27, 2021, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 98.5% of the principal amount of the Bonds and accrued interest thereon to the date of delivery will be considered.

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 May 18, 2021, and will become due semiannually on February 1 and August 1 in the years as follows:

Stated Maturity Principal Amount*
02/01/2022 $100,000
08/01/2022 100,000
02/01/2023 100,000
08/01/2023 100,000
02/01/2024 100,000
08/01/2024 105,000
02/01/2025 105,000
08/01/2025 100,000
02/01/2026 100,000
08/01/2026 105,000
02/01/2027 100,000
08/01/2027 105,000
02/01/2028 105,000
08/01/2028 105,000
02/01/2029 105,000
08/01/2029 105,000
02/01/2030 105,000
08/01/2030 105,000
02/01/2031 $105,000
08/01/2031 110,000
02/01/2032 110,000
08/01/2032 110,000
02/01/2033 110,000
08/01/2033 110,000
02/01/2034 110,000
08/01/2034 115,000
02/01/2035 110,000
08/01/2035 115,000
02/01/2036 115,000
08/01/2036 115,000
02/01/2037 115,000
08/01/2037 120,000
02/01/2038 115,000
08/01/2038 120,000
02/01/2039 120,000

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 February 1 and August 1 in each year, beginning on February 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 of $75,500.

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 May 18, 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 $140,574,928. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $8,780,000.

Approval of Bonds

The Bonds will be sold subject to the legal opinion of Gilmore & Bell, P.C., Wichita, Kansas, 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 the Municipal Advisor at the addresses set forth below:

Issuer

City of Liberal, Kansas
Attn: Chris Ford, Finance Director
City Hall
324 N. Kansas Ave.
PO Box 2199
Liberal, KS 67905-2199
620-626-2201
Fax: 620-626-0511
chris.ford@cityofliberal.org

Municipal Advisor – Facsimile and Email Bid Delivery Address

Ranson Financial Group, LLC
Attn: Beth Warren
200 W. Douglas, Suite 600
Wichita, KS 67202
316-264-3400
Fax: 316-265-5403
ewarren@ransonfinancial.com
Bid email: bids@ransonfinancial.com

Dated March 23, 2021.

Alicia Hidalgo
Clerk

* Subject to change, see the Notice

Doc. No. 049025