Volume 43 - Issue 39 - September 26, 2024
(Published in the Kansas Register September 26, 2024.)
City of Strong City, Kansas
Summary Notice of Bond Sale
$325,000*
General Obligation Bonds
Series 2024 (Cottonwood Streetscape)
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Official Notice of Bond Sale and Preliminary Official Statement dated September 20, 2024, sealed, emailed, facsimile, and electronic bids will be received on behalf of the City Clerk of the City of Strong City, Kansas, (the “City” or the “Issuer”) at the offices of Ranson Financial Group LLC, 200 W. Douglas, Suite 110, Wichita, KS 67202, by delivery, via email at bids@ransonfinancial.com, via facsimile at 316-265-5403, and in the case of electronic bids, via BIDCOMP/PARITY electronic bid submission system, until 11:00 a.m. (Central Time) Tuesday, October 8, 2024, for the purchase of $325,000* principal amount of General Obligation Bonds, Series 2024 (Cottonwood Streetscape) (the “Bonds”). No bid of less than 96.5% of the par value 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 October 29, 2024, and will become due on November 1, in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2025 | $10,000 |
| 2026 | 10,000 |
| 2027 | 10,000 |
| 2028 | 10,000 |
| 2029 | 15,000 |
| 2030 | 15,000 |
| 2031 | 15,000 |
| 2032 | 15,000 |
| 2033 | 15,000 |
| 2034 | 15,000 |
| 2035 | 15,000 |
| 2036 | 15,000 |
| 2037 | 15,000 |
| 2038 | 20,000 |
| 2039 | 20,000 |
| 2040 | 20,000 |
| 2041 | 20,000 |
| 2042 | 20,000 |
| 2043 | 25,000 |
| 2044 | 25,000 |
| * Subject to Change. | |
The Bonds will be subject to mandatory and optional redemption prior to maturity as provided in the Official Notice of Bond Sale and Preliminary Official Statement.
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.
Optional Book-Entry-Only System
The successful bidder may elect to have the Bonds registered under a book-entry-only system administered through The Depository Trust Company, New York, New York.
Paying Agent and Bond Registrar
The Kansas State Treasurer, Topeka, Kansas, will be the Paying Agent and Bond Registrar.
Good Faith Deposit
Each bid shall be accompanied by a cashier’s or certified check drawn on a bank located in the United States of America, a wire transfer or a qualified financial surety bond in the amount of $6,500 (2 percent of the principal amount of the Bonds).
Delivery
The Issuer will pay for printing the Bonds and will deliver the same properly prepared, executed, and registered at such bank or trust company in the contiguous United States of America as may be specified by the successful bidder, without cost to the successful bidder within 45 days after the date of sale.
Assessed Valuation and Indebtedness
The total assessed valuation of taxable tangible property in the city for the year 2024 is $2,818,953. The total general obligation bonded indebtedness of the Issuer as of the date of the Bonds, including the Bonds being sold, is $3,004,511.63.
Approval of Bonds
The Bonds will be sold subject to the legal opinion of Nichols and Wolfe Chartered, Topeka, Kansas, bond counsel, whose approving legal opinion as to the validity of the Bonds, will be furnished and paid for by the Issuer 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 City Clerk, phone 620-273-6345, or from the City’s municipal advisor, Ranson Financial Group LLC, Attn: Larry Kleeman, 200 W. Douglas, Suite 110, Wichita, KS 67202, phone 316-264-3400.
Dated September 19, 2024.
City of Strong City, Kansas
Shari L. DeWitt, City Clerk
City Hall
204 W. Topeka Ave.
Strong City, KS 66869
620-273-6345
Doc. No. 052521
