Publications iconKansas Register

Volume 40 - Issue 43 - October 28, 2021

(Published in the Kansas Register October 28, 2021.)

City of Bel Aire, Kansas

Summary Notice of Sale
$2,500,000*
General Obligation Bonds
Series 2021C

(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)

Bids

Subject to the Notice of Sale dated October 19, 2021, written and electronic bids will be received on behalf of the Clerk of the City of Bel Aire, Kansas (the “Issuer”) in the case of written bids, at the address set forth below, and in the case of electronic bids, via www.columbiacapitalauction.com (the “Columbia Capital Auction”), until 10:00 a.m. (CST) for the General Obligation Bonds, Series 2021C (the “Bonds”) on November 16, 2021, for the purchase of the Bonds. No bid of less than 105.0% 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 December 7, 2021. The Bonds will become due November 1 in the years as follows:

Year Principal Amount*
2022 $95,000
2023 95,000
2024 95,000
2025 100,000
2026 105,000
2027 110,000
2028 115,000
2029 120,000
2030 125,000
2031 125,000
2032 130,000
2033 130,000
2034 135,000
2035 135,000
2036 140,000
2037 145,000
2038 145,000
2039 150,000
2040 150,000
2041 155,000

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 May 1 and November 1 in each year, beginning on May 1, 2022.

*Adjustment of Issue Size

The Issuer reserves the right to increase or decrease the total principal amount of the Bonds, depending on the purchase price and interest rates bid and the offering prices specified by the Successful Bidder. The principal amount of any maturity may be adjusted by the Issuer in order to properly size the Bond issue based on the discount or premium and interest rates bid on the Bonds. The Successful Bidder may not withdraw its bid or change the interest rates bid as a result of any changes made to the principal amount of the Bonds or principal of any maturity as described herein. If there is an increase or decrease in the final aggregate principal amount of the Bonds or the schedule of principal payments as described above, the Issuer will notify the Successful Bidder by means of telephone or facsimile transmission, subsequently confirmed in writing, no later than 2:00 p.m. (CST) on the Sale Date. The actual purchase price for the Bonds shall be calculated by applying the percentage of par value bid by the Successful Bidder against the final aggregate principal amount of the Bonds, as adjusted.

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 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, a qualified financial surety bond or a wire transfer in Federal Reserve funds immediately available for use by the Issuer in the amount of $50,000.

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 December 7, 2021, 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 2021 is $81,928,597. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $49,445,000.

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:

Written Bid and Good Faith Deposit Delivery Address

City of Bel Aire, Kansas
7651 E. Central Park Ave.
Bel Aire, KS 67226
316-744-2451
Fax: 316-744-3739
mkrehbiel@belaireks.gov

Financial Advisor–Facsimile Bid Delivery Address

Columbia Capital Management, LLC
6700 Antioch, Suite 250
Merriam, KS 66204
Fax: 913-312-8053
jwhite@columbiacapital.com
913-312-8055
apope@columbiacapital.com
913-312-8064

Dated October 19, 2021.

Melissa Krehbiel
Clerk

Doc. No. 049534