Publications iconKansas Register

Volume 40 - Issue 27 - July 8, 2021

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

City of Maize, Kansas

Summary Notice of Bond Sale
$4,405,000
General Obligation Bonds, Series 2021A

(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)

Bids

Subject to the Notice of Bond Sale dated May 17, 2021 (the “Notice”), facsimile, email, and electronic bids will be received on behalf of the Clerk of the City of Maize, 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 11:00 a.m (CST) July 19, 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 4, 2021, and will become due on October 1 in the years as follows:

Payment Date
(October 1)
Principal
Amount*
2022 $190,000
2023 200,000
2024 200,000
2025 205,000
2026 205,000
2027 205,000
2028 210,000
2029 210,000
2030 215,000
2031 215,000
2032 220,000
2033 220,000
2034 225,000
2035 230,000
2036 230,000
2037 235,000
2038 240,000
2039 245,000
2040 250,000
2041 255,000

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 of $88,100.

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 4, 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 $68,551,573. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $21,625,000.

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 Financial Advisor at the address set forth below:

Issuer – Good Faith Deposit Delivery Address

City of Maize, Kansas
Attn: Jocelyn Reid, Clerk
City Hall
10100 Grady Ave.
Maize, KS 67101
316-722-7561
Fax: 316-722-0346
jreid@cityofmaize.org

Financial Advisor – Facsimile and Email Bid and Delivery Address

Ranson Financial Group, LLC
Attn: Larry Kleeman
200 W. Douglas, Suite 600
Wichita, KS 67202
316-264-3400
Fax: 316-265-5403
bids@ransonfinancial.com

Dated May 17, 2021.

Jocelyn Reid
Clerk

* Subject to change; see the Notice

Doc. No. 049269