Volume 40 - Issue 5 - February 4, 2021
(Published in the Kansas Register February 4, 2021.)
Unified Government of Wyandotte
County/Kansas City, Kansas
Summary Notice of Bond Sale
General Obligation Improvement Bonds
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids for the purchase of the above-referenced bonds (the “Bonds”) of the Unified Government of Wyandotte County/Kansas City, Kansas (the “Issuer”) herein described will be received until 10:00 a.m. (CST) (the “Submittal Hour”) on February 25, 2021 (the “Sale Date”). Bids may only be submitted via PARITY® or via email to the Municipal Advisor at firstname.lastname@example.org. Facsimile bids and hand-delivered written bids will not be accepted.
The Bonds will consist of fully registered bonds in the denomination of $5,000 or any integral multiple thereof. The Bonds will be dated March 25, 2021, and will become due on August 1 in the years as follows:
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.
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
The Successful Bidder shall submit a good faith deposit in the form of a wire transfer in Federal Reserve funds immediately available for use by the Issuer in the amount of 2.00% of the principal amount of the Bonds in the manner that complies with the requirements set forth in the Notice of Sale.
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 March 25, 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 $1,595,979,551. The total general obligation indebtedness of the Issuer as of the date of the Bonds, including the Bonds and the temporary notes being issued contemporaneously with the Bonds (the “Notes”), but excluding the temporary notes to be retired with the proceeds of the Bonds, the Notes, and other funds of the Issuer, is $447,155,000, of which $436,205,000 is indebtedness of the Issuer payable only from taxes on taxable tangible property in the City of Kansas City, Kansas, and $10,950,000 is indebtedness of the Issuer payable from taxes on all taxable tangible property within Wyandotte County, Kansas.
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 regarding the Bonds may be obtained from the undersigned, or from the Municipal Advisor at the addresses set forth below:
Unified Government of Wyandotte County/Kansas City, Kansas
By: Kathleen VonAchen, Chief Financial Officer
701 N. 7th St.
Kansas City, KS 66101
Baker Tilly Municipal Advisors, LLC
Attn: Bond Services
380 Jackson St., Suite 300
St. Paul, MN 55101
Dated February 4, 2021.
Chief Financial Officer
* Preliminary; subject to change as provided in the Notice.
Doc. No. 048829