Volume 40 - Issue 29 - July 22, 2021
(Published in the Kansas Register July 22, 2021.)
City of Leawood, Kansas
Summary Notice of Sale
General Obligation Bonds
(General Obligations Payable from Unlimited Ad Valorem Taxes)
Subject to the Notice of Sale (the “Notice”) and Preliminary Official Statement, sealed, facsimile, and electronic bids for the purchase of the above-referenced bonds (the “Bonds”), of the City of Leawood, Kansas (the “City”) will be received (1) in the case of sealed and facsimile bids by the City Finance Director at the address and fax number hereinafter set forth and (2) in the case of electronic bids through PARITY® electronic bid submission system (“PARITY”) until 12:30 p.m. (CST) Monday, August 2, 2021.
No bid of less than 100% of the principal amount of the Bonds and accrued interest to the date of delivery (anticipated August 19, 2021) will be considered.
The Bonds will consist of fully registered bonds, each in the denomination of $5,000 or any integral multiple thereof. Bonds shall initially be registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York, to which payments of principal of and interest on the Bonds will be made. Individual purchases of Bonds will be made in book-entry form only. Purchasers will not receive certificates representing their interest in Bonds purchased. The Bonds will be dated as of the date of delivery to the Purchasers thereof, and will become due annually on September 1 in the years and in the principal amounts set forth below:
|Maturity September 1||Principal* Amount|
The Bonds will bear interest from the date thereof at rates to be determined when the Bonds are sold, and interest will be payable semiannually on March 1 and September 1 in each year, beginning on March 1, 2022.
Paying Agent and Bond Registrar
Treasurer of the State of Kansas, Topeka, Kansas.
Good Faith Deposit
Each bid must be accompanied by a good faith deposit in the form of a wire transfer, certified or cashier’s check in the amount of 2.00% of the principal amount of the Bonds, payable to the order of the City.
The City will pay for preparing and printing the Bonds. The City will deliver the Bonds in book-entry form only through the facilities of The Depository Trust Company, New York, New York on or about August 19, 2021.
Assessed Valuation and Bonded Indebtedness
The equalized assessed valuation of the City for computation of bonded debt limitation in 2021 is $1,154,332,794. The total general obligation indebtedness of the City as of the date of the Bonds, including the Bonds being sold but excluding the temporary notes to be retired contemporaneously with delivery of the Bonds, is $108,710,000.
Approval of Bonds
The Bonds will be sold subject to the legal opinion of Gilmore & Bell, P.C., Kansas City, Missouri, Bond Counsel to the City, whose approving legal opinion as to the validity of the Bonds will be furnished and paid for by the City, will accompany the Bonds, and be delivered to the successful bidder as and when the Bonds are delivered.
Additional copies of this Notice, Official Bid Forms, or further information may be obtained from the undersigned or the City’s Municipal Advisor, Stifel, Nicolaus & Company, Incorporated, Plaza Colonnade, 4801 Main St., Suite 530, Kansas City, MO 64112, phone 816-531-7777.
Dated July 20, 2021.
City of Leawood, Kansas
Dawn Long, Finance Director
4800 Town Center Dr.
Leawood, KS 66211
* Preliminary; subject to change. See the Notice.
Doc. No. 049302