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Publications iconKansas Register

Volume 44 - Issue 11 - March 13, 2025

(Published in the Kansas Register March 13, 2025.)

City of Lawrence, Kansas

Summary Notice of Bond Sale
$30,260,000*
General Obligation Improvement Bonds
Series 2025-A

(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)

Bids

Subject to the Notice of Sale dated on or about March 20, 2025 (the “Notice”), electronic bids will be received on behalf of the Clerk of the City of Lawrence, Kansas (the “Issuer”) through PARITY® or via email to the Municipal Advisor at bids@bakertilly.com until 10:00 a.m. (Central Time) April 1, 2025, for the purchase of the above-referenced bonds (the “Bonds”). No bid for less than 99% of the principal amount 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 April 24, 2025, and will become due on September1 in the years as follows:

Maturity Date (September 1) Principal Amount*
2026 $1,205,000
2027 1,625,000
2028 1,675,000
2029 1,725,000
2030 1,780,000
2031 1,740,000
2032 1,785,000
2033 1,850,000
2034 1,915,000
2035 1,980,000
2036 1,245,000
2037 1,295,000
2038 1,345,000
2039 1,395,000
2040 1,445,000
2041 1,155,000
2042 1,200,000
2043 1,250,000
2044 1,300,000
2045 1,350,000
*Preliminary; subject to change.

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 March 1 and September 1 in each year, beginning on March 1, 2026.

Book-Entry-Only System

The Bonds 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

The successful bidder for the Bonds shall submit a good faith deposit in the form of a wire transfer in Federal Reserve funds immediately available for use by the Issuer in the amount of 2% of the principal amount of the Bonds in the manner that complies with the requirements set forth in the Notice.

Delivery

The Issuer 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 April 24, 2025, to DTC for the account of the successful bidder.

Assessed Valuation and Indebtedness

The Equalized Assessed Tangible Valuation for Computation of Bonded Debt Limitations for the year 2024 was $1,635,181,637 The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds and temporary notes being sold contemporaneously with the Bonds, but excluding any temporary notes to be paid off with the proceeds thereof, is $224,802,429.

Approval of Bonds

The Bonds will be sold subject to the legal opinion of Gilmore & Bell, P.C., Kansas City, Missouri, Bond Counsel to the Issuer, whose approving legal opinion as to the validity of the Bonds will be furnished and paid for by the Issuer, printed on the Bonds, 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 undersigned Municipal Advisor or Finance Director at the addresses set forth below.

Municipal Advisor

Baker Tilly Municipal Advisors, LLC
Attn: Bond Services
30 E. Seventh St., Suite 3025
Saint Paul, MN 55101
651-223-3000
bids@bakertilly.com

Dated March 13, 2025.

City of Lawrence, Kansas
Rachelle Mathews, Finance Director
City Hall
6 E. 6th St.
Lawrence, KS 66044
785-832-3214
rmathews@lawrenceks.org

Doc. No. 052927