Volume 43 - Issue 14 - April 4, 2024
(Published in the Kansas Register April 4, 2024.)
City of Valley Center, Kansas
Summary Notice of Bond Sale
$5,915,000*
General Obligation Bonds, Series 2024-1
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated March 19, 2024 (the “Notice”), facsimile and electronic bids will be received on behalf of the Clerk of the City of Valley Center, Kansas (the “Issuer”) in the case of facsimile bids, at the address set forth below, and in the case of electronic bids, through PARITY® until 10:00 a.m. (Central Time) April 16, 2024, 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 May 2, 2024, and will become due on December 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2025 | $110,000 |
| 2026 | 225,000 |
| 2027 | 235,000 |
| 2028 | 245,000 |
| 2029 | 255,000 |
| 2030 | 255,000 |
| 2031 | 260,000 |
| 2032 | 270,000 |
| 2033 | 280,000 |
| 2034 | 295,000 |
| 2035 | 295,000 |
| 2036 | 305,000 |
| 2037 | 320,000 |
| 2038 | 330,000 |
| 2039 | 345,000 |
| 2040 | 350,000 |
| 2041 | 365,000 |
| 2042 | 375,000 |
| 2043 | 395,000 |
| 2044 | 405,000 |
| * 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 June 1 and December 1 in each year, beginning on June 1, 2025.
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 $118,300.
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 May 2, 2024, 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 2023 is $79,169,113. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $61,770,000.
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
City of Valley Center, Kansas
Attn: Kristi Carrithers
City Hall
121 S. Meridian
PO Box 188
Valley Center, KS 67147-0188
316-755-7310
Fax: 316-755-7319
kcarrithers@valleycenterks.org
Financial Advisor
Piper Sandler & Co.
Attn: Dustin Avey
11635 Rosewood St.
Leawood, KS 66211
913-345-3375
Fax: 913-345-333
dustin.avey@psc.com
Dated March 19, 2024.
Kristi Carrithers
Clerk
City of Valley Center, Kansas
Doc. No. 052006
