Volume 43 - Issue 30 - July 25, 2024
(Published in the Kansas Register July 25, 2024.)
City of Shawnee, Kansas
Summary Notice of Sale
$16,700,000*
General Obligation Improvement Bonds
Series 2024A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Sale dated on or about July 18, 2024 (the “Notice of Sale”), bids will be received by the Finance Director of the City of Shawnee, Kansas (the “City”), on behalf of the governing body of the City, via facsimile at 913-312-8053, or, in the case of electronic proposals, on the Columbia Capital Auction website at www.columbiacapitalauction.com (“Columbia Capital Auction”), until 10:30 a.m. (Central Time) August 13, 2024, for the purchase of $16,700,000* principal amount of General Obligation Improvement Bonds, Series 2024A (the “Bonds”). No bid of less than 99% 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 City before submitting a bid.
Bond Details
The City adopted Resolution No. 2041 on July 8, 2024 authorizing the principal amount of the Bonds not to exceed $16,700,000 based on the maximum discount allowed under the Notice of Sale. 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 10, 2024 (the “Dated Date”), and will become due on December 1 in the years as follows:
| Maturity Schedule* | |
|---|---|
| Maturity December 1 | Principal Amount* |
| 2025 | $1,455,000 |
| 2026 | 1,515,000 |
| 2027 | 1,555,000 |
| 2028 | 1,600,000 |
| 2029 | 1,645,000 |
| 2030 | 1,690,000 |
| 2031 | 1,735,000 |
| 2032 | 1,785,000 |
| 2033 | 1,830,000 |
| 2034 | 1,890,000 |
| * Preliminary, subject to change | |
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 June 1 and December 1 in each year, beginning on June 1, 2025. 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.
Book-Entry Only System
The Bonds shall be registered under a book-entry only system administered through The Depository Trust Company (“DTC”).
Paying Agent and Bond Registrar
Treasurer of the State of Kansas, Topeka, Kansas.
Good Faith Deposit
Subject to the terms of the Notice of Sale, a good faith deposit in the form of a wire transfer, in the amount of 2% of the principal amount of the Bonds, payable to the order of the City of Shawnee, Kansas, will be required from the successful bidder for the Bonds by 1:00 p.m. on the sale date.
Delivery
The City 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 10, 2024 to DTC.
Assessed Valuation and Indebtedness
The equalized assessed tangible valuation for computation of bonded debt limitations for the year 2023 is $1,441,938,840. The total general obligation bonded indebtedness of the City as of the date of the Bonds, including the Bonds, is $111,615,000.
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 City 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, Columbia Capital Management, LLC, Attn: James Prichard, 6700 Antioch Rd., Suite 250, Merriam, KS 66204, phone 913-248-8500; the City’s Finance Director, Attn: Sean Rocco, Shawnee City Hall, 11110 Johnson Dr., Shawnee, KS 66203, phone 913-742-6268; or from Kutak Rock LLP, Bond Counsel, Attn: Joseph D. Serrano, 2300 Main St., Suite 800, Kansas City, MO 64108-2416, phone 816-960-0090.
Dated July 18, 2024.
City of Shawnee, Kansas
Sean Rocco, Finance Director
Shawnee City Hall
11110 Johnson Dr.
Shawnee, KS 66203
913-742-6268
Doc. No. 052345
