Volume 41 - Issue 21 - May 26, 2022
(Published in the Kansas Register May 26, 2022.)
Marion County, Kansas
Summary Notice of Bond Sale
General Obligation Bonds, Series 2022-A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Subject to the Notice of Bond Sale dated May 9, 2022 (the “Notice”), bids will be received on behalf of the County Clerk of Marion County, Kansas (the “Issuer”) in the case of facsimile bids, at the address set forth below, and in the case of electronic bids, through PARITY® until 11:00 a.m. (CDT) June 9, 2022, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 100% of the principal amount of the Bonds and accrued interest thereon to the date of delivery will be considered.
The Bonds will consist of fully registered bonds in the denomination of $5,000 or any integral multiple thereof. The Bonds will be dated June 30, 2022, and will become due on September 1 in the years as follows:
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 Septemver 1 in each year, beginning on March 1, 2023.
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 2% of the principal amount of the Bonds.
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 June 30, 2022, 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 $173,891,115. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $5,092,343.
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 regarding the Bonds may be obtained from the Municipal Advisor at the address set forth below:
Issuer – Good Faith Deposit Delivery Address
Marion County, Kansas
Attn: Tina Spencer, County Clerk
200 S. Third St.
Marion, KS 66861
Municipal Advisor – Email Bid Address
Stifel, Nicolaus & Company, Incpororated
Attn: Dave Arterberry
4801 Main St., Suite 530
Kansas City, MO 64112
Dated May 9, 2022.
* Subject to change, see the Notice
Doc. No. 050174