Volume 44 - Issue 4 - January 23, 2025

State of Kansas

Kansas Development Finance Authority

Notice of Hearing

A public hearing will be held on at 10:00 a.m. February 11, 2025, in the conference room of the Kansas Development Finance Authority (the “Authority”), 534 S. Kansas Ave., Suite 800, Topeka, Kansas, on the proposal for the Authority to issue its tax-exempt Athletic Facilities Revenue Bonds (the “Bonds”) in a principal amount not to exceed $146,500,000, plus all amounts required for costs of issuance of the Bonds, costs of interest on the Bonds during the renovation and construction of the Project, credit enhancement costs, and any required reserves for the payment of principal and interest on the Bonds. The Bonds are proposed to be issued for the benefit of Kansas Athletics, Incorporated, a Kansas not-for-profit corporation (the “Corporation”) and an organization described in Internal Revenue Code (the “Code”) Section 501(c)(3). The Bonds will be issued pursuant to K.S.A. 74-8901 et seq. (the “Act”) as Qualified 501(c)(3) Bonds as defined in Section 145 of the Code.

The Corporation expects to allocate all Bond proceeds to (i) prepay the Senior Notes issued by the Corporation pursuant to a Note Purchase Agreement dated October 27, 2020 (the “2020 Notes”) and (ii) pay all or a portion of the costs of acquiring, constructing, renovating, furnishing, and equipping the David Booth Kansas Memorial Stadium (the “Stadium”) at 1101 Mississippi Street, the Anderson Family Football Complex at 1146 Fambrough Way, and surrounding development in Lawrence, Kansas (the “Project”), to be owned by the Corporation or the University of Kansas (the “University”) and used to support the educational purposes of the University and exempt purposes of the Corporation, all in accordance with and pursuant to the Act.

The 2020 Notes were issued in an aggregate original principal amount of $31,500,000 to refund the Authority’s Athletic Facilities Refunding Revenue Bonds (Kansas Athletics, Incorporated Project) Series 2014F (the “Prior Bonds”), the proceeds of which were applied to refund the Authority’s Athletic Facilities Refunding Revenue Bonds, Series 2004K and Athletic Facilities Revenue Bonds, Series 2008C, and thereby refinance the costs of certain improvements and additions to certain athletic facilities on the Lawrence campus of the University, including the Stadium and Allen Fieldhouse at 1651 Naismith Drive, all in accordance with and pursuant to the Act.

The Bonds, when issued, will be a limited obligation of the Authority and will not constitute a general obligation or indebtedness of the State of Kansas or any political subdivision thereof, nor will the Bonds constitute an indebtedness for which the faith and credit and taxing powers of the State of Kansas are pledged, but the Bonds will be payable solely from revenues pledged by the Corporation in amounts sufficient to pay the principal of, interest and redemption premium, if any, on the Bonds when due.

Interested individuals may participate in the public hearing via conference call. Please call 844-621-3956 and use conference identification number 145 880 8929 followed by # to join the conference.

At the hearing, all individuals who appear will be given an opportunity to express their views for or against the proposal to issue Bonds to finance the Project and prepay the 2020 Notes, and all written comments previously sent to the Authority at its above-referenced offices will be considered. Additional information regarding the Project may be obtained by contacting the Authority at the address of its offices shown above.

Rebecca Floyd
President
Kansas Development Finance Authority

Doc. No. 052803