Volume 43 - Issue 43 - October 24, 2024
(Published in the Kansas Register October 24, 2024.)
City of Bel Aire, Kansas
Summary Notice of Sale
$10,780,000*
General Obligation Bonds
Series 2024A
$9,170,000
General Obligation Temporary Notes
Series 2024B
(General Obligations Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Sale dated October 15, 2024 (the “Notice”), facsimile, email, and electronic bids will be received on behalf of the Clerk of the City of Bel Aire, Kansas (the “Issuer”) in the case of facsimile or email bids, at the address set forth below, and in the case of electronic bids, via www.columbiacapitalauction.com (the “Columbia Capital Auction”) until 9:30 a.m. (Central Time) for the General Obligation Bonds, Series 2024A (the “Bonds”), and 10:00 a.m. (Central Time) for the General Obligation Temporary Notes, Series 2024B, (the “Notes”), November 5, 2024, for the purchase of the Bonds and Notes (collectively, the “Obligations”). No bid of less than 99% of the principal amount of the Bonds, and no bid of less than 99% of the principal amount of the Notes and accrued interest thereon to the date of delivery will be considered.
Obligation Details
The Obligations will consist of fully registered bonds and notes in the denomination of $5,000 or any integral multiple thereof. The Obligations will be dated November 27, 2024. The Bonds and will become due on November 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2026 | $395,000 |
| 2027 | 410,000 |
| 2028 | 420,000 |
| 2029 | 430,000 |
| 2030 | 445,000 |
| 2031 | 455,000 |
| 2032 | 470,000 |
| 2033 | 485,000 |
| 2034 | 500,000 |
| 2035 | 515,000 |
| 2036 | 535,000 |
| 2037 | 550,000 |
| 2038 | 570,000 |
| 2039 | 590,000 |
| 2040 | 610,000 |
| 2041 | 630,000 |
| 2042 | 655,000 |
| 2043 | 680,000 |
| 2044 | 705,000 |
| 2045 | 730,000 |
| * 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.
The Notes will become due as follows:
| Stated Maturity (December 1) |
Principal Amount* |
|---|---|
| 2027 | $9,170,000 |
| * Subject to change, see the Notice | |
The Notes will bear interest from the Dated Date at rates to be determined when the Notes are sold as hereinafter provided, which interest will be payable semiannually on June 1 and December 1 in each year, beginning on June 1, 2025.
Book-Entry-Only System
The Obligations 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 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, a qualified financial surety bond, or a wire transfer in Federal Reserve funds immediately available for use by the Issuer in the amount of $215,600 for the Bonds and $183,400 for the Notes.
Delivery
The Issuer will pay for preparation of the Obligations and will deliver the same properly prepared, executed, and registered without cost to the successful bidder on or about November 27, 2024, to DTC for the account of the successful bidder or at such bank or trust company in the contiguous United States of America as may be specified by the successful bidder, or elsewhere at the expense of the successful bidder.
Assessed Valuation and Indebtedness
The Equalized Assessed Tangible Valuation for Computation of Bonded Debt Limitations for the year 2024 is $113,957,616. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Obligations being sold, is $69,110,000.
Approval of Bonds
The Obligations 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 Obligations will be furnished and paid for by the Issuer, printed on the Obligations, and delivered to the successful bidder as and when the Obligations are delivered.
Additional Information
Additional information regarding the Obligations may be obtained from the undersigned at the addresses set forth below.
Issuer Address
City of Bel Aire, Kansas
Attn: Melissa Krehbiel, Clerk
7651 E. Central Park Ave.
Bel Aire, KS 67226
316-744-2451
Fax: 316-744-3739
mkrehbiel@belaireks.gov
Municipal Advisor – Facsimile and Email Bid and Good Faith Deposit Delivery Address
Columbia Capital Management, LLC
Attn: Jeff White or Adam Pope
6700 Antioch Rd., Suite 250
Merriam, KS 66204
Fax: 913-312-8053
jwhite@columbiacapital.com
913-312-8077
apope@columbiacapital.com
913-312-8064
Dated October 15, 2024.
Melissa Krehbiel
Clerk
City of Bel Aire, Kansas
Doc. No. 052602
