Volume 42 - Issue 30 - July 27, 2023
(Published in the Kansas Register July 27, 2023.)
Unified School District No. 309,
Reno County, Kansas
(Nickerson-South Hutchinson)
Summary Notice of Bond Sale
$7,600,000
General Obligation Bonds, Series 2023
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated July 10, 2023 (the “Notice”), facsimile and electronic bids will be received on behalf of the Clerk of Unified School District No. 309, Reno County, Kansas (Nickerson-South Hutchinson) (the “Issuer”) in the case of facsimile bids, at the address set forth below, and in the case of electronic bids, through PARITY® until 11:00 a.m. (Central Time) August 21, 2023, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 103% 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 September 12, 2023, and will become due on September 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2024 | $690,000 |
| 2025 | 725,000 |
| 2026 | 765,000 |
| 2027 | 800,000 |
| 2028 | 840,000 |
| 2029 | 885,000 |
| 2030 | 925,000 |
| 2031 | 970,000 |
| 2032 | 1,000,000 |
| * 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 $152,000.
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 September 12, 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 $97,063,075. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $7,600,000.
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 309
District Office
Attn: Laura Barb, Clerk
4501 W. 4th Ave.
South Hutchinson, KS 67501
620-663-7141
Fax: 620-663-7148
lbarb@usd309ks.org
Financial Advisor
Piper Sandler & Co.
Attn: Dustin Avey
11635 Rosewood St.
Leawood, KS 66211
913-345-3375
Fax: 913-345-3393
dustin.avey@psc.com
Dated July 10, 2023.
Laura Barb
Clerk
Unified School District No. 309
Doc. No. 051354
