Publications iconKansas Register

Volume 40 - Issue 47 - November 25, 2021

(Published in the Kansas Register November 25, 2021.)

Unified School District No. 282,
Elk County, Kansas (West Elk)

Summary Notice of Bond Sale
$9,900,000
General Obligation Bonds, Series 2021

(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)

Bids

Subject to the Notice of Bond Sale dated November 8, 2021 (the “Notice”), facsimile, written, and electronic bids will be received on behalf of the Clerk of Unified School District No. 282, Elk County, Kansas (West Elk) (the “Issuer”) in the case of written or facsimile bids, at the address set forth below, and in the case of electronic bids, through PARITY® until 10:00 a.m. (CST) December 13, 2021, 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 December 30, 2021, and will become due on September 1 in the years as follows:

Year Principal Amount*
2027 $250,000
2028 265,000
2029 280,000
2030 300,000
2031 315,000
2032 335,000
2033 355,000
2034 380,000
2035 400,000
2036 425,000
2037 450,000
2038 475,000
2039 500,000
2040 530,000
2041 560,000
2042 590,000
2043 625,000
2044 660,000
2045 695,000
2046 735,000
2047 775,000

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 March 1 and September 1 in each year, beginning on March 1, 2023.

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 $198,000.

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 30, 2021, to DTC for the account of the successful bidder or at such bank or trust company in the contiguous United States of America as may be specified by the successful bidder, or elsewhere at the expense of the successful bidder.

Assessed Valuation and Indebtedness

The Equalized Assessed Tangible Valuation for Computation of Bonded Debt Limitations for the year 2021 is $27,168,206. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $9,900,000.

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 Address

Unified School District No. 282
Attn: Paula McAlister, Clerk
1199 K-99 Hwy.
PO Box 278
Howard, KS 67349
620-374-2147
Fax: 620-374-2116
mcalisterp@westelk.us

Financial Advisor – Written and Facsimile Bid and Good Faith Deposit Delivery Address

Raymond James & Associates, Inc.
Attn: Greg Vahrenberg, Managing Director
1201 Walnut, 21st Floor, Kansas City, MO 64106
816-391-4120
Fax: 833-887-8729
greg.vahrenberg@raymondjames.com

Dated November 8, 2021.

Paula McAlister
Clerk

* Subject to change, see the Notice

Doc. No. 049592