Volume 40 - Issue 29 - July 22, 2021
(Published in the Kansas Register July 22, 2021.)
City of Johnson City, Kansas
Summary Notice of Bond Sale
$1,545,000*
General Obligation Refunding Bonds
Series 2021
Details of the Sale
Subject to the terms and requirements of the Official Notice of Bond Sale, dated July 1, 2021, of the City of Johnson City, Kansas (the “City”), bids to purchase the City’s General Obligation Refunding Bonds, Series 2021, (the “Bonds”) will be received at the office of the City Clerk at City Hall, 206 S. Main St., Johnson City, KS 67855 or by telefacsimile at 620-492-1392 or electronically as described in the Official Notice of Bond Sale until 10:00 a.m. (CST) Monday, August 9, 2021. The bids will be considered by the governing body at its meeting at 5:00 p.m. (CST) on the sale date.
No oral or auction bids for the Bonds shall be considered, and no bids for less than 98.75 percent of the total principal amount of the Bonds and accrued interest to the date of delivery shall be considered.
Details of the Bonds
The Bonds will be dated August 25, 2021 and will be issued as registered bonds in denominations of $5,000, or any integral multiple thereof. Interest on the Bonds is payable semiannually on March 1 and September 1 of each year, beginning March 1, 2022. Principal of the Bonds becomes due on September 1 in the years and amounts as shown below:
| Maturity Schedule | |
|---|---|
| Principal Amount* | Maturity Date |
| $145,000 | 2022 |
| 150,000 | 2023 |
| 150,000 | 2024 |
| 150,000 | 2025 |
| 155,000 | 2026 |
| 155,000 | 2027 |
| 155,000 | 2028 |
| 160,000 | 2029 |
| 160,000 | 2030 |
| 165,000 | 2031 |
Payment of Principal and Interest
The Treasurer of the State of Kansas will serve as the Bond Registrar and Paying Agent for the Bonds.
Book-Entry Bonds
The Bonds will be issued and registered under a book-entry-only system administered by The Depository Trust Company, New York, New York (“DTC”).
Delivery of the Bonds
The City will prepare the Bonds at its expense and will deliver the registered Bonds to DTC on or about August 25, 2021. Any bond printing costs will be paid by the City from the proceeds of the Bonds or other City funds.
Legal Opinion
The Bonds will be sold subject to the legal opinion of Triplett Woolf Garretson, LLC, Wichita, Kansas, Bond Counsel, whose fees will be paid by the City.
Financial Matters
The City’s current assessed valuation for purposes of calculating statutory debt limitations is $10,340,161. As of August 25, 2021, the City’s total outstanding general obligation debt (including the Bonds), is $1,680,000* which excludes bonds outstanding in the amount of $1,500,000 which will be retired out of the proceeds of the Bonds herein offered for sale. The City’s total indebtedness which is subject to debt limitation, as of August 25, 2021, is estimated to be $0, which is 0.00% of the assessed valuation of the City.
Additional Information
For additional information contact the City Clerk at the address and telephone number shown below, or the Financial Advisor, Mr. Larry Kleeman, Ranson Financial Group, LLC, 220 W. Douglas, Suite 600, Wichita, KS 67202, telephone 316-264-3400.
City of Johnson City, Kansas
Dayle Jeanne Lorenson, City Clerk
City Hall
206 S. Main St.
Johnson City, KS 67855
620-492-1444
Fax: 620-492-1392
* Principal amount subject to change.
Doc. No. 049307
