Publications iconKansas Register

Volume 40 - Issue 26 - July 1, 2021

(Published in the Kansas Register July 1, 2021.)

Salina Airport Authority
(Salina, Kansas)

Summary Notice of Sale
$2,360,000*
Taxable General Obligation Bonds
Series 2021-A

(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)

Bids

Subject to the Notice of Sale dated June 16, 2021 (the “Notice”), email and electronic bids will be received on behalf of the Director of Administration and Finance of the Salina Airport Authority (Salina, Kansas), in the case of email bids, to shellis@salair.org and arteberryd@stifel.com, and in the case of electronic bids, through PARITY® until 10:30 a.m. (CST) July 20, 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 August 17, 2021 (the “Dated Date”), and will become due in principal installments on September 1 in the years as follows:

Year Principal Amount*
2022 $135,000
2023 140,000
2024 145,000
2025 145,000
2026 150,000
2027 150,000
2028 150,000
2029 155,000
2030 160,000
2031 160,000
2032 165,000
2033 170,000
2034 175,000
2035 180,000
2036 180,000

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 March 1 and September 1 in each year, beginning on March 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 $47,200.

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 August 17, 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, was $510,951,650. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds and outstanding general obligation temporary notes, is $23,210,000.

Approval of Bonds

The Bonds will be sold subject to the approving 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 the Financial Advisor, at the addresses set forth below:

Issuer

Salina Airport Authority (Salina, Kansas)
3237 Arnold Ave.
Salina, KS 67401
785-827-3914
Fax: 785-827-2221
shellis@salair.org

Financial Advisor

Stifel, Nicolaus & Company, Incorporated
Attn: David Arteberry
4801 Main St., Suite 530
Kansas City, MO 64112
816-203-8733
Fax: 816-203-8757
arteberryd@stifel.com

Dated June 16, 2021.

Michelle Swanson
Director of Administration and Finance

* Subject to Change, see the Notice.

Doc. No. 049256