Volume 41 - Issue 10 - March 10, 2022

State of Kansas

Kansas Development Finance Authority

Notice of Hearing

Public notice is hereby given that a public hearing will be held by the Kansas Development Finance Authority (the “Authority”) at 9:00 a.m. March 29, 2022, in the conference room in the offices of the Authority, 534 S. Kansas Ave., Suite 800, Topeka, Kansas, concerning a plan of finance involving the issuance by the City of Wichita, Kansas (the “City”) of one or more series of qualified 501(c)(3) revenue bonds in a maximum stated principal amount of $200,000,000 (the “Bonds”) for the purpose of making the proceeds of the Bonds available to Presbyterian Manors, Inc., a Kansas not for profit corporation (the “Corporation”), to finance, refinance, and reimburse costs of senior living and health care facilities and equipment for the Corporation and its affiliates, as further described in this notice. The Bonds are proposed to be issued by the City pursuant to the provisions and under the authority of K.S.A. 121740 et seq., as amended, and K.S.A. 10-116a (collectively, the “Act”).

The Corporation expects to use a portion of the net proceeds of the Bonds in the approximate amount of $80,000,000 to refinance all or a portion of the following outstanding series of bonds previously issued by the City: (1) Health Care Facilities Revenue Bonds (Presbyterian Manors, Inc. ), Series IV-A, 2013 (the “Series IV-A, 2013 Bonds”) and (2) Health Care Facilities Revenue Bonds (Presbyterian Manors, Inc. ), Series IV-A, 2014 (the “Series IV-A, 2014 Bonds”).

The proceeds of the Series IV-A, 2013 Bonds and Series IV-A, 2014 Bonds were used to acquire, construct, improve, renovate, repair, furnish, equip, reimburse, or refinance the costs of the Corporation’s senior living and health care facilities located at the following addresses in the State of Kansas: (1) 4700 W. 13th St., Wichita, KS 67212 (the “Wichita Facility”); (2) 1171 N. Fourth, Arkansas City, KS 67005 (the “Arkansas City Facility”); (3) 924 Eighth St., Clay Center, KS 67432 (the “Clay Center Facility”); (4) 200 Campus Dr., Dodge City, KS 67801 (the “Dodge City Facility”); (5) 2300 Industrial Rd., Emporia, KS 66801 (the “Emporia Facility”); (6) 2401 S. Horton, Fort Scott, KS 66701 (the “Fort Scott Facility”); (7) 1429 Kasold Dr., Lawrence, KS 66049 (the “Lawrence Facility”); (8) 1200 E. Seventh, Newton, KS 67114 (the “Newton Facility”); (9) 17500 W. 199th St., Olathe, KS 66061 (the “Olathe Facility”); (10) 3501 Dirr Ave., Parsons, KS 67357 (the “Parsons Facility”); (11) 2601 E. Crawford St., Salina, KS 67401 (the “Salina Facility’); and (12) 4712 SW Sixth, Topeka, KS 66606 (the “Topeka Facility”).

In addition, the Corporation expects to use a portion of the net proceeds of the Bonds in an approximate amount of $140,000,000 to acquire, construct, improve, renovate, repair, equip, furnish, reimburse, or refinance the costs of the Corporation’s senior living and health care facilities in the following estimated amounts at the following addresses: (1) $75,000,000 at the Wichita Facility; (2) $4,000,000 at the Arkansas City Facility; (3) $2,000,000 at the Clay Center Facility; (4) $2,000,000 at the Dodge City Facility; (5) $3,000,000 at the Emporia Facility; (6) $2,000,000 at the Fort Scott Facility; (7) $5,000,000 at the Lawrence Facility; (8) $4,000,000 at the Newton Facility; (9) $5,000,000 at the Olathe Facility; (10) $2,000,000 at the Parsons Facility; (11) $20,000,000 at the Salina Facility; and (12) $5,000,000 at the Topeka Facility (collectively, the “Projects”). At the Corporation’s discretion, the Bond proceeds may be allocated finance all, a part, or none, of the Projects at each location.

The balance of the proceeds of the Bonds will be applied to debt service reserve funds and related costs of issuance.

The Bonds and the interest thereon will not be a debt or general obligation of the City, the State of Kansas, or any municipal corporation thereof, and neither the Bonds nor the interest thereon are payable in any manner from tax revenues of any kind or character.

This public hearing does not impose any liability on the Authority or the State of Kansas but is an accommodation by the Authority to satisfy the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended.

All individuals who appear at the hearing will be given an opportunity to express their views for or against the proposed financing of the projects described above, and all written comments previously filed with the Authority at its offices at 534 S. Kansas Ave., Suite 800, Topeka, Kansas, will be considered. Additional information regarding the projects described above may be obtained by contacting the Kansas Development Finance Authority.

Dated March 10, 2022.

Rebecca Floyd
President

Doc. No. 049913