Volume 42 - Issue 26 - June 29, 2023
(Published in the Kansas Register June 29, 2023.)
Unified School District No. 311,
Reno County, Kansas (Pretty Prairie)
Summary Notice of Bond Sale
$7,745,000
General Obligation School Building Bonds,
Series 2023
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated June 12, 2023 (the “Notice”), facsimile, email, and electronic bids will be received on behalf of the Clerk of Unified School District No. 311, Reno Co, Kansas (Pretty Prairie) (the “Issuer”) in the case of email or facsimile bids, at the address set forth below, and in the case of electronic bids, through PARITY® until 10:00 a.m. (Central Time) July 19, 2023, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 100% 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 August 16, 2023, and will become due on September 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2025 | $170,000 |
| 2026 | 190,000 |
| 2027 | 210,000 |
| 2028 | 235,000 |
| 2029 | 255,000 |
| 2030 | 280,000 |
| 2031 | 310,000 |
| 2032 | 335,000 |
| 2033 | 365,000 |
| 2034 | 390,000 |
| 2035 | 420,000 |
| 2036 | 450,000 |
| 2037 | 480,000 |
| 2038 | 515,000 |
| 2039 | 550,000 |
| 2040 | 585,000 |
| 2041 | 625,000 |
| 2042 | 670,000 |
| 2043 | 710,000 |
| * 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 (in the manner set forth in the Notice) by a good faith deposit in the form of a cashier’s or certified check drawn on a bank located in the United States of America or a wire transfer in Federal Reserve funds immediately available for use by the Issuer in the amount of $154,900.
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 August 16, 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 $24,002,112. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $7,745,000.
Approval of Bonds
The Bonds will be sold subject to the legal opinion of Gilmore & Bell, P.C., Wichita, Kansas, 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, or from the Financial Advisor at the addresses set forth below:
Issuer
Unified School District No. 311
District Office
Attn: Jason Deel, Clerk
206 E. Main St.
PO Box 218
Pretty Prairie, K 67570
620-459-6241
Fax: 620-459-6810
deelj@usd311.com
Financial Advisor
Stifel, Nicolaus & Company, Incorporated
Attn: Stephen E. Shogren
301 N. Main, Suite 800
Wichita, KS 67202
316-264-9351
Fax: 316-337-8492
shogrens@stifel.com
Dated June 12, 2023.
Jason Deel
Clerk
Unified School District No. 311
Doc. No. 051275
