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Publications iconKansas Register

Volume 44 - Issue 18 - May 1, 2025

(Published in the Kansas Register May 1, 2025.)

City of Hutchinson, Kansas

Summary Notice of Bonds Sale
$5,270,000*
General Obligation Bonds
Series 2025-A

and

$1,065,000*
General Obligation Bonds
(Taxable Under Federal Law)
Series 2025-B

(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)

Bids

Subject to the Notice of Bonds Sale dated on or about May 8, 2025 (the “Notice of Sale”), bids will be received by the Director of Finance of the City of Hutchinson, Kansas (the “City”), on behalf of the governing body at the address set forth below, in the case of facsimile bids, at the fax number set forth below, or, in the case of electronic proposals, via PARITY Electronic Bid Submission System (“PARITY”) on May 20, 2025 (the “Sale Date”), until 9:30 a.m. (Central Time) for the purchase of $5,270,000* principal amount of General Obligation Bonds, Series 2025-A (the “Series 2025-A Bonds”), and until 10:30 a.m. (Central Time) for the purchase of $1,065,000* principal amount of General Obligation Bonds (Taxable Under Federal Law), Series 2025-B (the “Series 2025-B Bonds”, and collectively, with the Series 2025-A Bonds, the “Bonds”). No bid of less than 99% of the par value of the Series 2025-A Bonds, plus accrued interest to the date of delivery, will be considered. No bid of less than 100% of the par value of the Series 2025-B Bonds, plus accrued interest to the date of delivery, will be considered. Bidders may be required to be qualified in a manner established by the City before submitting a bid.

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 26, 2025 (the “Dated Date”), and will become due on October 1 in the years as follows:

Series 2025-A Bonds
Maturity Principal Amount*
2026 $110,000
2027 185,000
2028 195,000
2029 205,000
2030 210,000
2031 225,000
2032 230,000
2033 235,000
2034 240,000
2035 250,000
2036 265,000
2037 270,000
2038 285,000
2039 295,000
2040 310,000
2041 325,000
2042 335,000
2043 350,000
2044 365,000
2045 385,000
* Subject to change.
Series 2025-B Bonds
Maturity Principal Amount*
2026 $20,000
2027 35,000
2028 35,000
2029 35,000
2030 40,000
2031 40,000
2032 45,000
2033 45,000
2034 45,000
2035 50,000
2036 50,000
2037 55,000
2038 60,000
2039 60,000
2040 65,000
2041 70,000
2042 75,000
2043 75,000
2044 80,000
2045 85,000
* Subject to change.

The Bonds will bear interest from the Dated Date at rates to be determined when the Bonds are sold as provided in the Notice of Sale, which interest will be payable semiannually on April 1 and October 1 in each year, beginning on April 1, 2026. A bidder may elect to have all or a portion of the Bonds scheduled to mature in consecutive years issued as term bonds subject to the requirements set forth in the Notice of Sale.

Paying Agent and Bond Registrar

Treasurer of the State of Kansas, Topeka, Kansas.

Good Faith Deposit

Each bid shall be accompanied by a cashier’s or certified check drawn on a bank located in the United States of America or a wire transfer of same-day funds in accordance with the requirements set forth in the Notice of Sale in the amount of $105,400 for the Series 2025-A Bonds and $21,300 for the Series 2025-B Bonds (2% of the principal amount of the applicable series of Bonds).

Delivery

The City will pay for preparation of the Bonds and will deliver the same properly prepared, executed, and registered without cost to the successful bidder(s) on or about June 26, 2025, at the offices of The Depository Trust Company, New York, New York.

Assessed Valuation and Indebtedness

The equalized assessed tangible valuation for computation of bonded debt limitations for the year 2024 is $421,758,331. The total general obligation indebtedness of the City as of the date of the Bonds, including the Bonds, is $47,632,000*. The City’s total indebtedness which is subject to debt limitation, including the Bonds being sold and as of the date of the Bonds, is estimated to be $33,556,609*.

Approval of Bonds

The Bonds will be sold subject to the legal opinion of Kutak Rock LLP, Kansas City, Missouri, Bond Counsel, whose approving legal opinion as to the validity of the Bonds will be furnished and paid for by the City and delivered to the successful bidder(s) when the Bonds are delivered.

Additional Information

Additional information regarding the Bonds may be obtained from the Municipal Advisor, Piper Sandler & Co., 11635 Rosewood St., Leawood, KS 66211, phone 913-345-3300); from Angela Richard, the Director of Finance; or from Kutak Rock LLP, Bond Counsel, 2405 Grand Blvd., Suite 600, Kansas City, MO 64108, phone 816-960-0090).

Dated April 24, 2025.

City of Hutchinson, Kansas
Angela Richard
Director of Finance
Hutchinson City Hall
125 E. Avenue B
Hutchinson, KS 67501
620-694-2784
Fax: 620-694-2673

Doc. No. 053108