Publications iconKansas Register

Volume 40 - Issue 39 - September 30, 2021

(Published in the Kansas Register September 30, 2021.)

Unified School District No. 493,
Cherokee County, Kansas (Columbus)

Summary Notice of Bond Sale
$14,750,000*
General Obligation Bonds, Series 2021

(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)

Bids

Subject to the Notice of Bond Sale dated September 13, 2021 (the “Notice”), facsimile and electronic bids will be received on behalf of the Clerk of Unified School District No. 493, Cherokee County, Kansas (Columbus) (the “Issuer”) in the case of facsimile bids, at the address set forth below, and in the case of electronic bids, through PARITY® until 10:00 a.m. (CST) October 7, 2021, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 102.5% 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 October 28, 2021, and will become due on September 1 in the years as follows:

Year Principal Amount*
2022 $340,000
2023 415,000
2024 435,000
2025 450,000
2026 470,000
2027 490,000
2028 505,000
2029 530,000
2030 550,000
2031 570,000
2032 580,000
2033 590,000
2034 600,000
2035 610,000
2036 625,000
2037 635,000
2038 650,000
2039 660,000
2040 675,000
2041 690,000
2042 705,000
2043 720,000
2044 735,000
2045 750,000
2046 770,000

The Bonds will bear interest from the date thereof 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 March 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

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 $295,000.

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 October 28, 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 2021 is $84,218,271. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $14,750,000.

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 Financial Advisor at the addresses set forth below:

Issuer

Office of the Board of Education
Attn: Susan Wells, Clerk
802 S. Highschool Ave.
Columbus, KS 66725
620-429-3661
Fax: 620-429-2673
swells@usd493.com

Financial Advisor

Piper Sandler & Co.
Attn: Dustin Avey
11635 Rosewood St.
Leawood, KS 66211
913-345-3375
Fax: 913-345-3393
Dustin.Avey@psc.com

Dated September 13, 2021.

Susan Wells
Clerk

*Subject to change, see the Notice

Doc. No. 049465