Volume 40 - Issue 34 - August 26, 2021
(Published in the Kansas Register August 26, 2021.)
Unified School District No. 289,
Franklin County, Kansas (Wellsville)
Summary Notice of Bond Sale
$18,105,000*
General Obligation Bonds, Series 2021-A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated September 7, 2021 (the “Notice of Sale”), bids will be received by the Superintendent of Unified School District No. 289, Franklin County, Kansas (Wellsville) (the “District”), on behalf of the Board of Education of the District at the Office of the Board of Education, 602 Walnut St., Wellsville, KS 66092, or, in the case of electronic proposals, via PARITY® Electronic Bid Submission System (“PARITY”) until 11:00 a.m. (CST) September 15, 2021, for the purchase of $18,105,000* principal amount of General Obligation Bonds, Series 2021-A (the “Bonds”). No bid of less than 100% of the par value of the Bonds, plus accrued interest to the date of delivery, will be considered. Bidders may be required to be qualified in a manner established by the District before submitting a bid.
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 October 13, 2021 (the “Dated Date”), and will become due on September 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2022 | $ 280,000 |
| 2023 | 455,000 |
| 2024 | 475,000 |
| 2025 | 495,000 |
| 2026 | 510,000 |
| 2027 | 535,000 |
| 2028 | 555,000 |
| 2029 | 575,000 |
| 2030 | 600,000 |
| 2031 | 625,000 |
| 2032 | 650,000 |
| 2033 | 675,000 |
| 2034 | 700,000 |
| 2035 | 730,000 |
| 2036 | 760,000 |
| 2037 | 790,000 |
| 2038 | 820,000 |
| 2039 | 855,000 |
| 2040 | 890,000 |
| 2041 | 925,000 |
| 2042 | 960,000 |
| 2043 | 1,000,000 |
| 2044 | 1,040,000 |
| 2045 | 1,080,000 |
| 2046 | 1,125,000 |
The Bonds will bear interest from the Dated Date at rates to be determined when the Bonds are sold as provided in the Notice of Sale, which interest will be payable semiannually on March 1 and September 1 in each year, beginning on March 1, 2022. A bidder may elect to have all, or a portion of the Bonds scheduled to mature in consecutive years issued as term bonds subject to the requirements set forth in the Notice of Sale.
Paying Agent and Bond Registrar
Treasurer of the State of Kansas, Topeka, Kansas.
Good Faith Deposit
Each bidder for the Bonds shall provide the District with a cashier’s or certified check drawn on a bank located in the United States of America or a wire transfer of same day funds in accordance with the requirements set forth in the Notice of Sale in the amount of $362,100 (2% of the principal amount of the Bonds).
Delivery
The District 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 October 13, 2021, at the offices of The Depository Trust Company, New York, New York.
Assessed Valuation and Indebtedness
The equalized assessed tangible valuation for computation of bonded debt limitations for the year 2020 is $71,793,730. Pursuant to Kansas law, and an Order of the Kansas State Board of Education, the total general obligation indebtedness of the District as of the date of issuance of the Bonds, including the Bonds being sold, is $18,105,000.*
Approval of Bonds
The Bonds will be sold subject to the legal opinion of Kutak Rock LLP, Kansas City, Missouri, Bond Counsel, whose approving legal opinion as to the validity of the Bonds will be furnished and paid for by the District 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 Clerk at 785-883-2388; the District’s Financial Advisor, Stifel, Nicolaus & Company, Incorporated, Attn: David Arteberry, 4801 Main St., Suite 530, Kansas City, MO 64112, phone 816-203-8733; or from Kutak Rock LLP, Bond Counsel, Attn: Tyler Ellsworth, 2300 Main St., Suite 800, Kansas City, MO 64108, phone 816-960-0090.
Dated August 19, 2021.
Unified School District No. 289,
Franklin County, Kansas (Wellsville)
Jennifer Eiche, Clerk
602 Walnut St.
Wellsville, KS 66092
785-883-2388
* Preliminary; subject to change.
Doc. No. 049388
