Volume 41 - Issue 32 - August 11, 2022
(Published in the Kansas Register August 11, 2022.)
Pottawatomie County, Kansas
Summary Notice of Sale
$2,955,000*
General Obligation Bonds, Series 2022-A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Sale dated on or about August 16, 2022 (the “Notice of Sale”) bids will be received by the County Clerk of Pottawatomie County, Kansas (the “County”), on behalf of the County at 207 N. First St. Westmoreland, KS 66549, by facsimile at 785-457-3507, or, in the case of electronic proposals, via PARITY® Electronic Bid Submission System (“PARITY”) until 11:00 a.m. (CDT) August 25, 2022, for the purchase of $2,955,000* principal amount of General Obligation Bonds, Series 2022-A (the “Bonds”). No bid of less than 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 County 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 September 22, 2022 (the “Dated Date”), and will become due October 1 in the years as follows:
| Year | Principal* Amount |
|---|---|
| 2023 | $110,000 |
| 2024 | 110,000 |
| 2025 | 115,000 |
| 2026 | 120,000 |
| 2027 | 125,000 |
| 2028 | 125,000 |
| 2029 | 130,000 |
| 2030 | 135,000 |
| 2031 | 140,000 |
| 2032 | 145,000 |
| 2033 | 145,000 |
| 2034 | 150,000 |
| 2035 | 155,000 |
| 2036 | 160,000 |
| 2037 | 165,000 |
| 2038 | 170,000 |
| 2039 | 180,000 |
| 2040 | 185,000 |
| 2041 | 190,000 |
| 2042 | 200,000 |
The Bonds will bear interest from the Dated Date at rates to be determined when the Bonds are sold as provided in the Notice of Sale, which interest will be payable semiannually on April 1 and October 1 in each year, beginning on April 1, 2023. 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 of Sale.
Paying Agent and Bond Registrar
Treasurer of the State of Kansas, Topeka, Kansas.
Good Faith Deposit
The bidder for the Bonds shall provide the County with a cashier’s or certified check drawn on a bank located in the United States of America or a wire transfer of same day funds in accordance with the requirements set forth in the Notice of Sale in the amount of $59,100 (2% of the principal amount of the Bonds).
Delivery
The County 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 22, 2022, at the offices of The Depository Trust Company, New York, New York.
Assessed Valuation and Indebtedness
The equalized assessed tangible valuation for computation of bonded debt limitations for the year 2021 is $765,580,231. The total general obligation indebtedness of the County as of the date of issuance of the Bonds and including the Bonds and certain general obligation notes being sold on the same date as the Bonds, is $37,741,529*. The County’s total general obligation indebtedness which is subject to the statutory debt limit, as of the date of issuance of the Bonds and including the Bonds being sold, is $3,719,247*.
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 County 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 County Clerk, phone 785-457-3455; the County’s Municipal Advisor, Stifel, Nicolaus & Company, Incorporated, Attn: David Arteberry, 4801 Main St., Suite 530, Kansas City, MO 64112, phone 816-203-8733; or from Kutak Rock LLP, Bond Counsel, Attn: Tyler Ellsworth 2300 Main St., Suite 800, Kansas City, MO 64108, phone 816-960-0090.
Dated August 3, 2022.
Pottawatomie County, Kansas
Dawn Henry, County Clerk
207 N. 1st
Westmoreland, KS 66549
785-457-3455
*Preliminary; subject to change.
Doc. No. 050410
