Publications iconKansas Register

Volume 40 - Issue 3 - January 21, 2021

(Published in the Kansas Register January 21, 2021.)

City of Baldwin City, Kansas

Summary Notice of Bond Sale
$3,165,000*
General Obligation Bonds
Series 2021-A

(General Obligation Bonds Payable
from Unlimited Ad Valorem Taxes)

Bids

Subject to the Notice of Bond Sale dated January 19, 2021 (the “Notice”), written, facsimile, and electronic (as explained below) bids for the purchase of the above-referenced General Obligation Bonds, Series 2021-A (the “Bonds”) of the City of Baldwin City, Kansas (the “Issuer”) herein described will be received on behalf of the undersigned Clerk of the Issuer at the address hereinafter set forth in the case of written and facsimile bids, and via PARITY® in the case of electronic bids, until 10:00 a.m. (CST) (the “Submittal Hour”) Tuesday, February 2, 2021, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 98.8% 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 February 25, 2021, and will become due and will become in principal installments on September 1, as follows:

Maturity
(Sept. 1)
Principal
Amount*
2028 $110,000
2029 125,000
2030 145,000
2031 165,000
2032 165,000
2033 170,000
2034 235,000
2035 240,000
2036 275,000
2037 285,000
2038 410,000
2039 415,000
2040 425,000

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, 2021 (the “Interest Payment Dates”).

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 $63,300.

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 February 25, 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 is $41,209,224. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $14,515,000.

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 from the Municipal Advisor, at the addresses set forth below:

Issuer – Written Bid Delivery Address

City of Baldwin City, Kansas
Attn: Laura Hartman, Clerk
803 8th St.
PO Box 86
Baldwin City, KS 66006
785-594-6427
lhartman@baldwincity.org

Municipal Advisor–Facsimile Bid and Good Faith Deposit Delivery Address

Baker Tilly Municipal Advisors, LLC
Attn: Bond Services
380 Jackson St., Suite 300
Saint Paul, MN 55101
651-223-3000
Fax: 651-223-3046
bondservice@bakertilly.com

Dated January 19, 2021.

Laura Hartman
Clerk

* Subject to change, see the Notice

Doc. No. 048796