Volume 40 - Issue 43 - October 28, 2021
(Published in the Kansas Register October 28, 2021.)
City of Bel Aire, Kansas
Summary Notice of Sale
General Obligation Bonds
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
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.
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:
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.
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.
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 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
Financial Advisor–Facsimile Bid Delivery Address
Dated October 19, 2021.
Doc. No. 049534