Volume 40 - Issue 9 - March 4, 2021
(Published in the Kansas Register March 4, 2021.)
City of Ottawa, Kansas
Summary Notice of Bond Sale
$6,060,000*
General Obligation Refunding Bonds,
Series 2021-A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated March 8, 2021 (the “Notice”), bids will be received by the City Clerk of the City of Ottawa, Kansas (the “City”), on behalf of the governing body at the address set forth herein, or, in the case of electronic proposals, via PARITY® Electronic Bid Submission System (“PARITY”) until 11:00 a.m. (CST) March 16, 2021, for the purchase of $6,060,000* principal amount of General Obligation Refunding Bonds, Series 2021-A (the “Bonds”). Only bids of at least 100% of the par value of the Bonds, plus accrued interest to the date of delivery, will be considered. Bidders may be required to be qualified in a manner established by the City before submitting a bid.
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 April 8, 2021 (the “Dated Date”), and will become due on October 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2021 | $185,000 |
| 2022 | 385,000 |
| 2023 | 390,000 |
| 2024 | 390,000 |
| 2025 | 390,000 |
| 2026 | 395,000 |
| 2027 | 395,000 |
| 2028 | 400,000 |
| 2029 | 400,000 |
| 2030 | 405,000 |
| 2031 | 410,000 |
| 2032 | 415,000 |
| 2033 | 420,000 |
| 2034 | 425,000 |
| 2035 | 175,000 |
| 2036 | 175,000 |
| 2037 | 180,000 |
| 2038 | 90,000 |
| 2039 | 35,000 |
The Bonds will bear interest from the Dated Date at rates to be determined when the Bonds are sold as provided in the Notice, which interest will be payable semiannually on April 1 and October 1 in each year, beginning on October 1, 2021. A bidder may elect to have all or a portion of the Bonds scheduled to mature in consecutive years issued as term bonds subject to the requirements set forth in the Notice.
Paying Agent and Bond Registrar
Treasurer of the State of Kansas, Topeka, Kansas.
Good Faith Deposit
Each bid shall be accompanied by a cashier’s or certified check drawn on a bank located in the United States of America or a wire transfer in the manner that complies with the requirements set forth in the Notice in the amount of $121,200 (2% of the principal amount of the Bonds).
Delivery
The City 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 April 8, 2021, through the facilities of The Depository Trust Company, New York, New York.
Assessed Valuation and Indebtedness
The City’s equalized assessed tangible valuation for computation of bonded debt limitations for the year 2020 is $116,877,314. The total general obligation indebtedness of the City as of the date of the Bonds, including the Bonds being sold, is $27,672,000.
Approval of Bonds
The Bonds will be sold subject to the legal opinion of Kutak Rock LLP, Kansas City, Missouri, Bond Counsel, whose approving legal opinion as to the validity of the Bonds will be furnished and paid for by the City 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 City Clerk, the City’s Municipal Advisor, Stifel Nicolaus & Company, Incorporated, Attn: David Arteberry, 4801 Main St., Suite 530, Kansas City, MO 64112, phone 816-2038733; or from Kutak Rock LLP, Bond Counsel, Attn: Tyler Ellsworth, 2300 Main St., Suite 800, Kansas City, MO 64108, phone 816-960-0090.
Dated February 25, 2021.
City of Ottawa, Kansas
City Clerk
Ottawa City Hall
101 S. Hickory St.
Ottawa, KS 66067-2347
785-229-3600
*Subject to change.
Doc. No. 048909
