Volume 41 - Issue 30 - July 28, 2022
(Published in the Kansas Register July 28, 2022.)
City of Topeka, Kansas
Summary Notice of Bond Sale
General Obligation Bonds
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Subject to the Notice of Bond Sale dated July 7, 2022, (the “Notice”), facsimile and electronic bids will be received on behalf of the Director of Administrative and Financial Services of the City of Topeka, Kansas (the “Issuer”) in the case of facsimile bids, at the fax number set forth below, and in the case of electronic bids via www.columbiacapitalauction.com (the “Columbia Capital Auction”), until 10:00 a.m. (CDT) for the General Obligation Bonds, Series 2022-B, (the “Bonds”), on August 9, 2022, for the purchase of the Bonds. No bid of less than 99.0% 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 September 6, 2022. The Bonds will become due August 15 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 February 15 and August 15 in each year, beginning on February 15, 2023.
*Adjustment of Issue Size
The Issuer reserves the right to increase or decrease the total principal amount of the Bonds or the schedule of principal payments described above, depending on the purchase price and interest rates bid and the offering prices specified by the Successful Bidder and the amount, if any, of prepaid special assessments. The Successful Bidder may not withdraw its bid or change the interest rates bid as a result of any changes made to the principal amount of the Bonds or the schedule of principal payments as described herein. If there is an increase or decrease in the final aggregate principal amount of the Bonds or the schedule of principal payments as described above, the Issuer will notify the Successful Bidder by means of telephone or facsimile transmission, subsequently confirmed in writing, no later than 2:00 p.m. (CDT) on the Sale Date. The actual purchase price for the Bonds shall be calculated by applying the percentage of par value bid by the Successful Bidder against the final aggregate principal amount of the Bonds, as adjusted, plus accrued interest from the Dated Date to the Closing Date (as hereinafter defined).
If the principal amounts are modified, the Issuer will seek to modify the maturity schedule, or make other mutually agreeable changes, in a way that will neither increase nor reduce the Successful Bidder’s spread as a percentage of the principal amount of the Bonds issued, after taking into account such adjustments.
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 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 $339,000.
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 September 6, 2022, to DTC for the account of the successful bidder.
Assessed Valuation and Indebtedness
The total assessed valuation of the taxable tangible property within the Issuer as of December 31, 2021 is $1,354,782,081. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, but excluding temporary notes to be retired with a portion of the proceeds of the Bonds and including temporary notes being sold on the Sale Date, is $155,850,098.
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 undersigned, or from the Financial Advisor at the addresses set forth below:
Financial Advisor–Facsimile Bid and Good Faith Deposit Delivery Address
Columbia Capital Management, LLC
Attn: Jeff White or Khalen Dwyer
6700 Antioch Rd., Suite 250
Merriam, KS 66204
Dated July 7, 2022.
City of Topeka, Kansas
Director of Administrative and Financial Services
215 SE 7th St.
Topeka, KS 66603
Doc. No. 050379