Volume 40 - Issue 29 - July 22, 2021
(Published in the Kansas Register July 22, 2021.)
Saline County, Kansas
Summary Notice of Bond Sale
$75,000,000*
General Obligation Sales Tax Bonds
Series 2021-B
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated July 13, 2021 (the “Notice”), facsimile and electronic bids will be received on behalf of the County Clerk of Saline County, Kansas (the “Issuer”) in the case of facsimile bids, at the address set forth below, and in the case of electronic bids, through PARITY® until 10:00 a.m. (CST) August 5, 2021, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 100% 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 26, 2021, and will become due on September 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2022 | $2,850,000 |
| 2023 | 2,435,000 |
| 2024 | 2,530,000 |
| 2025 | 2,635,000 |
| 2026 | 2,740,000 |
| 2027 | 2,845,000 |
| 2028 | 2,960,000 |
| 2029 | 3,080,000 |
| 2030 | 3,205,000 |
| 2031 | 3,285,000 |
| 2032 | 3,365,000 |
| 2033 | 3,450,000 |
| 2034 | 3,535,000 |
| 2035 | 3,625,000 |
| 2036 | 3,715,000 |
| 2037 | 3,810,000 |
| 2038 | 3,905,000 |
| 2039 | 4,000,000 |
| 2040 | 4,100,000 |
| 2041 | 4,205,000 |
| 2042 | 4,310,000 |
| 2043 | 4,415,000 |
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 $1,500,000.
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 26, 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 2021 is $689,505,221. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $75,627,787.
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 the Municipal Advisor at the addresses set forth below:
Issuer –Facsimile Bid and Good Faith Deposit Delivery Address
Saline County, Kansas
Attn: Phillip Smith-Hanes, County Administrator
City/County Building
300 W. Ash St.
Salina, KS 67401
785-309-5810
Fax: 785-309-5811
Phillip.Smith-Hanes@saline.org
Municipal Advisor
Stifel Nicolaus & Company, Incorporated
Attn: Dave Arteberry
4801 Main St., Suite 500
Kansas City, MO 64112
816-203-8733
Cell: 816-863-3230
arteberryd@stifel.com
Dated July 13, 2021.
Phillip Smith-Hanes
County Administrator
* Subject to change, see the Notice
Doc. No. 049303
