Volume 40 - Issue 47 - November 25, 2021
(Published in the Kansas Register November 25, 2021.)
Rice County, Kansas
Summary Notice of Bond Sale
$5,000,000*
General Obligation Bonds
Series 2021
Details of the Sale
Subject to the terms and requirements of the Official Notice of Bond Sale, dated November 22, 2021, of Rice County, Kansas (the “County”), bids to purchase the County’s General Obligation Bonds, Series 2021, (the “Bonds”) will be received at the office of the County Clerk at County Courthouse, 101 W. Commercial, Lyons, KS 67554, or electronically as described in the Official Notice of Bond Sale until 10:00 a.m. (CST) Monday, December 6, 2021. The bids will be considered by the governing body at its meeting held at 11:30 a.m. (CST) on the sale date.
No oral or auction bids for the Bonds shall be considered, and no bids for less than 100 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 County, 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 December 30, 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 February 1 and August 1 of each year, beginning February 1, 2022. Principal of the Bonds becomes due on August 1 in the years and amounts as shown below:
| Maturity Schedule | |
|---|---|
| Principal Amount* | Maturity Date |
| $250,000 | 2022 |
| 220,000 | 2023 |
| 225,000 | 2024 |
| 225,000 | 2025 |
| 225,000 | 2026 |
| 230,000 | 2027 |
| 230,000 | 2028 |
| 235,000 | 2029 |
| 235,000 | 2030 |
| 240,000 | 2031 |
| 245,000 | 2032 |
| 250,000 | 2033 |
| 255,000 | 2034 |
| 260,000 | 2035 |
| 265,000 | 2036 |
| 270,000 | 2037 |
| 275,000 | 2038 |
| 280,000 | 2039 |
| 280,000 | 2040 |
| 285,000 | 2041 |
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 County will prepare the Bonds at its expense and will deliver the registered Bonds to DTC on or about December 30, 2021. Any bond printing costs will be paid by the County from the proceeds of the Bonds or other County 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 County.
Financial Matters
The County’s current assessed valuation for purposes of calculating statutory debt limitations is $174,698,595. As of December 30, 2021, the County’s total outstanding general obligation debt (including the Bonds), is $5,000,000*. The County’s total indebtedness which is subject to debt limitation, as of December 30, 2021, is estimated to be $5,000,000*, which is 2.86%* of the assessed valuation of the County.
Additional Information
For additional information contact the County Clerk at the address and telephone number shown below, or the Municipal Advisor, Mr. Greg Vahrenberg, Raymond James & Associates, Inc., 1201 Walnut, 21st Floor, Kansas City, MO 64106, telephone 816-509-5451.
Rice County, Kansas
Aurelia Garcia, County Clerk
County Courthouse
101 W. Commercial
Lyons, KS 67554
620-257-2232
Fax: 620-257-3039
* Principal amount subject to change.
Doc. No. 049586
