Volume 42 - Issue 7 - February 16, 2023
State of Kansas
Kansas Development Finance Authority
Notice of Hearing
A public hearing will be held at 9:00 a.m. March 3, 2023, 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 $47,000,000. The Bonds are proposed to be issued on behalf of K-State Athletics, Incorporated (the “Corporation”), a Kansas not-for-profit corporation, an affiliate of Kansas State University (the “University”) 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”).
The Corporation expects to allocate all Bond proceeds to pay all or a portion of the costs of acquiring, constructing, renovating, furnishing and/or equipping an indoor football practice facility, a volleyball and Olympic training center, and an indoor track facility to be located on the main campus of the University in Manhattan, Kansas, near the existing athletic facilities of the University generally bounded by Kimball Avenue to the north, N. Manhattan Avenue to the east, Anderson Avenue to the south, and College Avenue to the west (the “Project”), to be owned by the Corporation or the University and used to support the educational purposes of the University, all in accordance with and pursuant to the Act.
The Bonds, when issued, will be a limited obligation of the Authority, payable from revenues pledged by the Corporation, 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 toll free number 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 all written comments previously filed with the Authority at its offices at 534 S. Kansas Ave., Suite 800, Topeka, KS 66603 will be considered. Additional information regarding the Project may be obtained by contacting the Authority at the address of its offices listed above.
Rebecca Floyd
President
Kansas Development Finance Authority
Doc. No. 050893
