Volume 42 - Issue 17 - April 27, 2023
(Published in the Kansas Register April 27, 2023.)
Salina Airport Authority
(Salina, Kansas)
Summary Notice of Bond Sale
$1,000,000*
Taxable General Obligation Bonds
Series 2023-A
$8,870,000*
General Obligation Bonds (Subject to AMT)
Series 2023-B
$6,855,000*
General Obligation Bonds
Series 2023-C
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Official Notice of Bond Sale, dated April 19, 2023, separate bids for the purchase of each series of the above-referenced bonds (collectively, the “Bonds”) of the Salina Airport Authority (Salina, Kansas) (the “Issuer”) will be received until 11:00 a.m. (Central Time) May 16, 2023. Bids may be emailed to arteberryd@stifel.com or submitted via PARITY®. No bid of less than 98.50% of the principal amount of each series 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 June 7, 2023 (the “Dated Date”), and will become due in the years as follows:
Series 2023-A Bonds
The Series 2023-A Bonds will become due in principal installments as follows:
| Payment Date (Sept. 1) |
Principal Amount* |
|---|---|
| 2032 | $1,000,000 |
Series 2023-B Bonds
The Series 2023-B Bonds will become due in principal installments as follows:
| Payment Date (Sept. 1) |
Principal Amount* |
|---|---|
| 2032 | $100,000 |
| 2033 | 1,140,000 |
| 2034 | 1,175,000 |
| 2035 | 1,225,000 |
| 2036 | 1,275,000 |
| 2037 | 1,330,000 |
| 2038 | 1,390,000 |
| 2039 | 1,135,000 |
| 2040 | 100,000 |
Series 2023-C Bonds
The Series 2023-C Bonds will become due in principal installments as follows:
| Payment Date (Sept. 1) |
Principal Amount* |
|---|---|
| 2039 | $350,000 |
| 2040 | 1,450,000 |
| 2041 | 1,615,000 |
| 2042 | 1,685,000 |
| 2043 | 1,755,000 |
| * 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 March 1 and September 1 in each year, beginning on March 1, 2024.
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
Each bid shall be accompanied by a good faith deposit in the form of a wire transfer in Federal Reserve funds immediately available for use by the Issuer in an amount equal to 2% of the principal amount of the applicable series of the Bonds.
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 June 7, 2023, 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 2022 is $558,783,273. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $34,670,000, which includes the Bonds being sold and excludes the Issuer’s Temporary Notes to be retired in connection with the issuance of the Bonds.
Approval of Bonds
The Bonds will be sold subject to the legal opinion of Gilmore & Bell, P.C., Wichita, Kansas, Bond Counsel, 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, or from the Financial Advisor at the addresses set forth below:
Issuer
Salina Airport Authority (Salina, Kansas)
3237 Arnold Ave.
Salina, KS 67401
785-827-3914
Fax: 785-827-2221
shellis@salair.org
Financial Advisor
Stifel, Nicolaus & Company, Incorporated
Attn: David Arteberry
4801 Main St., Suite 530
Kansas City, MO 64112
816-203-8733
Fax: 816-203-8757
arteberryd@stifel.com
Dated April 19, 2023.
Michelle Swanson
Director
Administration and Finance
Salina Airport Authority
Doc. No. 051087
