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Publications iconKansas Register

Volume 43 - Issue 22 - May 30, 2024

(Published in the Kansas Register May 30, 2024.)

City of Salina, Kansas

Summary Notice of Bond Sale
$11,835,000*
General Obligation Internal Improvement Bonds,
Series 2024-A

(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)

Bids

Subject to the Notice of Bond Sale dated May 13, 2024 (the “Notice”), electronic bids submitted through PARITY®, or emailed to the Municipal Advisor at the address below, will be received on behalf of the City of Salina, Kansas (the “Issuer”) at 11:00 a.m. (Central Time) June 10, 2024, for the purchase of the above-referenced bonds (the “Bonds”). The minimum bid price for the Bonds shall be as specified in the Notice.

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 July 2, 2024, and will become due on October 1 in the years as follows:

Year Principal
Amount*
2025 $730,000
2026 885,000
2027 930,000
2028 975,000
2029 1,030,000
2030 1,055,000
2031 1,085,000
2032 1,120,000
2033 1,160,000
2034 1,195,000
2035 140,000
2036 140,000
2037 155,000
2038 155,000
2039 160,000
2040 170,000
2041 175,000
2042 185,000
2043 195,000
2044 195,000
* Subject to change, see the Notice

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 April 1 and October 1 in each year, beginning on April 1, 2025.

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 equal to 2% of the principal amount of the Bonds.

Delivery

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 July 2, 2024, 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 2023 is $587,121,147. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $65,795,000.

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

Additional information regarding the Bonds may be obtained from the Municipal Advisor at the addresses set forth below.

Issuer – Good Faith Deposit Delivery Address

City of Salina, Kansas
Debbie Pack, Director of Finance and Administration
300 W. Ash St., Room 206
Salina, KS 67402
785-309-5735
Fax: 785-309-5711
debbie.pack@salina.org

Municipal Advisor – Email Bid Delivery Address

Stifel, Nicolaus & Company, Incorporated
Attn: David Arteberry
4801 Main St., Suite 530,
Kansas City, MO 64112
816-203-8733
arteberryd@stifel.com

Dated May 13, 2024.

Debbie Peck
Director of Finance and Administration
City of Salina, Kansas

Doc. No. 052166