Volume 40 - Issue 41 - October 14, 2021
(Published in the Kansas Register October 14, 2021.)
Johnson County, Kansas
Summary Notice of Bond Sale
$43,835,000*
General Obligation Internal Improvement Bonds
Series 2021A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated on or about October 6, 2021 (the “Notice”), emailed and electronic bids will be received on behalf of the Budget Director of Johnson County, Kansas (the “Issuer”), in the case of emailed bids, to the Municipal Advisor at bondservice@bakertilly.com, and in the case of electronic bids, through PARITY®, on October 27, 2021, for the purchase of the above-referenced bonds (the “Bonds”). No bid for the Bonds 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 November 18, 2021 (the “Dated Date”), and will become due on September 1 in the years as follows:
| Maturity Date (Sept. 1) |
Principal Amount* |
|---|---|
| 2022 | $2,135,000 |
| 2023 | 2,025,000 |
| 2024 | 2,030,000 |
| 2025 | 2,035,000 |
| 2026 | 2,045,000 |
| 2027 | 2,055,000 |
| 2028 | 2,075,000 |
| 2029 | 2,095,000 |
| 2030 | 2,115,000 |
| 2031 | 2,130,000 |
| 2032 | 2,155,000 |
| 2033 | 2,180,000 |
| 2034 | 2,215,000 |
| 2035 | 2,245,000 |
| 2036 | 2,285,000 |
| 2037 | 2,320,000 |
| 2038 | 2,360,000 |
| 2039 | 2,405,000 |
| 2040 | 2,435,000 |
| 2041 | 2,495,000 |
The Bonds will bear interest from the Dated Date 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 September 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
The successful bidder for the Bonds 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 total principal amount of the Bonds in the manner that complies with the requirements set forth in the Notice of Sale.
Delivery and Payment
The Issuer will pay for preparation of the Bonds and will deliver the Bonds properly prepared, executed, and registered without cost on or about November 18, 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 $12,766,579,682. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $601,185,000.
Approval of the 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
Additional information regarding the Bonds may be obtained from the undersigned, or from the Municipal Advisor at the addresses set forth below:
Issuer
Johnson County, Kansas
Scott A. Neufeld, Budget Director
111 S. Cherry St., Suite 2300
Olathe, KS 66061
913-715-0605
Fax: 913-715-0558
Scott.Neufeld@jocogov.org
Municipal Advisor and Email Bid Address
Baker Tilly Municipal Advisors, LLC
Attn: Bond Services
225 S. 6th St., Suite 2300
Minneapolis, MN 55402
651-226-3000
Fax: 651-223-3046
bondservice@bakertilly.com
Dated October 12, 2021.
Scott A. Neufeld
Budget Director
*Preliminary; subject to change.
Doc. No. 049502
