Volume 43 - Issue 30 - July 25, 2024
(Published in the Kansas Register July 25, 2024.)
City of Maize, Kansas
Summary Notice of Bond Sale
$16,235,000*
General Obligation Bonds,
Series 2024A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated June 17, 2024 (the “Notice”), facsimile, email, and electronic bids will be received on behalf of the Clerk of the City of Maize, Kansas (the “Issuer”) in the case of facsimile or email bids, at the address set forth below, and in the case of electronic bids, through PARITY® until 10:30 a.m. (Central Time) August 5, 2024, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 98% 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 August 28, 2024, and will become due on October 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2026 | $565,000 |
| 2027 | 590,000 |
| 2028 | 610,000 |
| 2029 | 630,000 |
| 2030 | 650,000 |
| 2031 | 675,000 |
| 2032 | 695,000 |
| 2033 | 720,000 |
| 2034 | 745,000 |
| 2035 | 775,000 |
| 2036 | 800,000 |
| 2037 | 830,000 |
| 2038 | 860,000 |
| 2039 | 895,000 |
| 2040 | 930,000 |
| 2041 | 965,000 |
| 2042 | 1,010,000 |
| 2043 | 1,050,000 |
| 2044 | 1,095,000 |
| 2045 | 1,145,000 |
| * 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 of 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 August 28, 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 $96,373,614. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold and excluding the temporary notes being retired from the Bonds, is $76,690,000.
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 Financial Advisor at the addresses set forth below.
Issuer Address
City of Maize, Kansas
Attn: Sue Villarreal, Clerk
City Hall
10100 Grady Ave.
Maize, KS 67101
316-722-7561
Fax: 316-722-0346
svillarreal@cityofmaize.org
Financial Advisor – Facsimile and Email Bid Delivery Address
Ranson Financial Group, LLC
Attn: Larry Kleeman
200 W. Douglas, Suite 600
Wichita, KS 67202
316-264-3400
Fax: 316-265-5403
Bid Delivery Email: bids@ransonfinancial.com
larry@citycode.com
Dated June 17, 2024.
Sue Villarreal
Clerk
City of Maize, Kansas
Doc. No. 052339
