Volume 40 - Issue 9 - March 4, 2021
(Published in the Kansas Register March 4, 2021.)
Burrton Consolidated Fire District No. 5
Summary Notice of Bond Sale
$895,000*
General Obligation Refunding Bonds
Series 2021
Details of the Sale
Subject to the terms and requirements of the Official Notice of Bond Sale, dated February 22, 2021, of Burrton Consolidated Fire District No. 5 (the “District”), bids to purchase the District’s General Obligation Refunding Bonds, Series 2021, (the “Bonds”) will be received at the office of the District Clerk at the Fire Station, 111 N. Burrton, Burrton, KS 67020, or electronically as described in the Official Notice of Bond Sale until 10:30 a.m. (CST) Monday, March 22, 2021. The bids will be considered by the governing body at its meeting held at 6:00 p.m. (CST) on the sale date.
No oral or auction bids for the Bonds shall be considered, and no bids for less than 99 percent of the total principal amount of the Bonds and accrued interest to the date of delivery shall be considered.
Good Faith Deposit
Bidders must submit a good faith deposit in the form of a wire transfer or certified or cashier’s check made payable to the order of the District, or a financial surety bond (if then available), in an amount equal to 2% of the principal amount of the Bonds.
Details of the Bonds
The Bonds will be dated April 6, 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 September 1, 2021. Principal of the Bonds becomes due on September 1 in the years and amounts as shown below:
| Maturity Schedule | |
|---|---|
| Principal Amount* | Maturity Date |
| $60,000 | 2021 |
| 65,000 | 2022 |
| 65,000 | 2023 |
| 70,000 | 2024 |
| 65,000 | 2025 |
| 65,000 | 2026 |
| 70,000 | 2027 |
| 70,000 | 2028 |
| 70,000 | 2029 |
| 70,000 | 2030 |
| 75,000 | 2031 |
| 75,000 | 2032 |
| 75,000 | 2033 |
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 District will prepare the Bonds at its expense and will deliver the registered Bonds to DTC on or about April 6, 2021. Any bond printing costs will be paid by the District from the proceeds of the Bonds or other District 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 District.
Financial Matters
The District’s current assessed valuation for purposes of calculating statutory debt limitations is $25,025,284. As of April 6, 2021, the District’s total outstanding general obligation debt (including the Bonds), is $895,000* which excludes bonds outstanding in the amount of $845,000 which will be retired out of the proceeds of the Bonds herein offered for sale. The District’s total indebtedness which is subject to debt limitation, as of April 6, 2021, is estimated to be $895,000, which is 3.58% of the assessed valuation of the District.
Additional Information
For additional information contact the District Clerk at the address and telephone number shown below, or the Financial Advisor, Mr. Kip Hart, McLiney and Company, a division of SAMCO Capital, 5201 Johnson Dr., Mission, KS 66205, telephone 800-432-4042.
Burrton Consolidated Fire District No. 5
By Clark Kirk, District Clerk
Fire Station, 111 N. Burrton
Burrton, KS 67020
620-463-2235
Fax: 620-463-2076
* Principal amount subject to change.
Doc. No. 048913
