Volume 44 - Issue 6 - February 6, 2025
(Published in the Kansas Register February 6, 2025.)
City of Wellsville, Kansas
Summary Notice of Sale
(Updated)
$2,515,000*
General Obligation Bonds
Series 2025-A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Sale dated on or about February 3, 2025 (the “Notice of Sale”), bids will be received on behalf of the City of Wellsville, Kansas (the “City”), on the Columbia Capital Auction website at http://www.columbiacapitalauction.com (“Columbia Capital Auction”), or in the case of emailed bids, via email to jprichard@columbiacapital.com and sbaker@columbiacapital.com, until 10:00 a.m. (Central Time) February 12, 2025 (the “Sale Date”), for the purchase of $2,515,000* principal amount of General Obligation Bonds, Series 2025-A (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 Bonds will consist of fully registered bonds in the denomination of $5,000 or any integral multiple thereof. The Bonds will be dated March 11, 2025 (the “Dated Date”), and will become due on December 1 in the years as follows:
| Maturity | Principal Amount* |
|---|---|
| 2026 | $90,000 |
| 2027 | 90,000 |
| 2028 | 90,000 |
| 2029 | 100,000 |
| 2030 | 105,000 |
| 2031 | 105,000 |
| 2032 | 115,000 |
| 2033 | 115,000 |
| 2034 | 125,000 |
| 2035 | 130,000 |
| 2036 | 135,000 |
| 2037 | 140,000 |
| 2038 | 150,000 |
| 2039 | 155,000 |
| 2040 | 160,000 |
| 2041 | 165,000 |
| 2042 | 175,000 |
| 2043 | 180,000 |
| 2044 | 190,000 |
| * 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.
Paying Agent and Registrar
Treasurer of the State of Kansas, Topeka, Kansas.
Good Faith Deposit
The bidder for the Bonds shall provide the City with a wire transfer of same-day funds in accordance with the requirements set forth in the Notice of Sale in the amount of $50,300 for the Bonds (2% of the principal amount of the Bonds).
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 March 11, 2025, at the offices of The Depository Trust Company, New York, New York.
Assessed Valuation and Indebtedness
The equalized assessed tangible valuation for computation of bonded debt limitations for the year 2024 is $25,335,059. The total general obligation indebtedness of the City as of the date of the Bonds, including the Bonds, is $6,060,000.
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(s) when the Bonds are delivered.
Additional Information
Additional information regarding the Bonds may be obtained from the City’s Financial Advisor, Columbia Capital Management, LLC, Attn: James Prichard, 6700 Antioch Rd., Suite 250, Merriam, KS 66204, phone 913-312-8072; from the City Clerk, phone 785-883-2296; or from Kutak Rock LLP, Attn: Tyler Ellsworth, Bond Counsel, 2405 Grand Blvd., Suite 600, Kansas City, MO 64108, phone 816-960-0090.
Dated January 30, 2025.
City of Wellsville, Kansas
Tammy Jones
City Clerk
City Hall
411 Main St.
Wellsville, KS 66092
785-883-2296
Doc. No. 052847
