Volume 41 - Issue 46 - November 17, 2022
(Published in the Kansas Register November 17, 2022.)
City of Mission, Kansas
Summary Notice of Bond Sale
$6,655,000*
General Obligation Bonds
Series 2022A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated on or about November 17, 2022 (the “Notice”), emailed and electronic bids will be received on behalf of the City Administrator of the City of Mission, Kansas (the “Issuer”) (in the case of emailed bids, at the Municipal Advisor’s address set forth below, and in the case of electronic bids, through PARITY®), until 10:00 a.m. (CST) November 30, 2022, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 98.80% of the principal amount of the Bonds and accrued interest thereon to the date of delivery will be considered.
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 December 21, 2022 (the “Dated Date”), and will become due in principal installments on April 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2024 | $490,000 |
| 2025 | 585,000 |
| 2026 | 605,000 |
| 2027 | 630,000 |
| 2028 | 655,000 |
| 2029 | 680,000 |
| 2030 | 705,000 |
| 2031 | 735,000 |
| 2032 | 770,000 |
| 2033 | 800,000 |
The Bonds will bear interest from the Dated Date at rates to be determined when the Bonds are sold as hereinafter provided, which interest will be payable semiannually on April 1 and October 1 in each year, beginning on October 1, 2023.
Book-Entry-Only System
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 total principal amount of the Bonds.
Delivery and Payment
The Issuer will pay for preparation of the Bonds and will deliver the Bonds properly prepared, executed, and registered without cost on or about December 21, 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 was $193,517,365. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $21,965,000.
Approval of the Bonds
The Bonds will be sold subject to the legal opinion of Gilmore & Bell, P.C., Kansas City, Missouri, 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
Additional information regarding the Bonds may be obtained from the undersigned at the addresses set forth below:
Issuer Address
City of Mission, Kansas
Attn: Laura Smith
City Administrator
6090 Woodson Rd.
Mission, KS 66202
913-676-8350
lsmith@missionks.org
Municipal Advisor and Email Bid Address
Ehlers Inc.
Attn: Bruce Kimmel
3060 Centre Pointe Dr.
Roseville, MN 55113
651-697-8572
bkimmel@ehlers-inc.com
Dated November 17, 2022.
Laura Smith
City Administrator
*Subject to change, see the Notice.
Doc. No. 050680
