Volume 43 - Issue 30 - July 25, 2024
(Published in the Kansas Register July 25, 2024.)
City of El Dorado, Kansas
Summary Notice of Bond Sale
$6,595,000
General Obligation Improvement Bonds,
Series 2024-A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated July 15, 2024 (the “Notice”), facsimile and electronic bids will be received on behalf of the Clerk of the City of El Dorado, Kansas (the “Issuer”) in the case of facsimile bids, at the address set forth below, and in the case of electronic bids, through PARITY® until 10:00 a.m. (Central Time) August 5, 2024, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 99.0616% of the principal amount of the Bonds ($6,533,110) 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 29, 2024, and will become due on November 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2025 | $365,000 |
| 2026 | 435,000 |
| 2027 | 445,000 |
| 2028 | 465,000 |
| 2029 | 485,000 |
| 2030 | 500,000 |
| 2031 | 520,000 |
| 2032 | 540,000 |
| 2033 | 560,000 |
| 2034 | 585,000 |
| 2035 | 135,000 |
| 2036 | 145,000 |
| 2037 | 150,000 |
| 2038 | 160,000 |
| 2039 | 165,000 |
| 2040 | 170,000 |
| 2041 | 180,000 |
| 2042 | 185,000 |
| 2043 | 200,000 |
| 2044 | 205,000 |
| * 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 May 1 and November 1 in each year, beginning on May 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 $131,900.
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 29, 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 $130,411,228. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $23,675,000, inclusive of temporary notes that will be issued contemporaneously with the Bonds and excluding temporary notes that will be retired by the Bonds.
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 undersigned, or from the Municipal Advisor at the addresses set forth below.
Issuer – Good Faith Deposit Delivery
City of El Dorado, Kansas
Attn: Emerald Ashlock, Clerk
City Hall
220 E. 1st Ave.
El Dorado, KS 67042
316-321-9100
Fax: 316-321-6282
eashlock@eldoks.com
Municipal Advisor – Facsimile Bid Delivery Address
Baker Tilly Municipal Advisors, LLC
Attn: Kolbe Krzyzanowski
5440 W. 110th St., #300
Overland Park, KS 66211
651-223-3000
Fax: 651-223-3046
bondserevice@bakertilly.com
Dated July 15, 2024.
Emerald Ashlock
Clerk
City of El Dorado, Kansas
Doc. No. 052341
