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Publications iconKansas Register

Volume 41 - Issue 24 - June 16, 2022

(Published in the Kansas Register June 16, 2022.)

City of Mulvane, Kansas

Summary Notice of Bond Sale
$2,525,000*
General Obligation Bonds
Series A, 2022

$2,170,000*
General Obligation Bonds
Series B, 2022

Details of the Sale

Subject to the terms and requirements of the Official Notice of Bond Sale, dated May 16, 2022, of the City of Mulvane, Kansas (the “City”), bids to purchase the City’s (i) General Obligation Bonds, Series A, 2022, (the “Series A, 2022 Bonds”) and (ii) General Obligation Bonds, Series B, 2022 (the “Series B, 2022 Bonds”) will be received at the office of the City Clerk at City Hall, 211 N. 2nd, Mulvane, KS 67110, by telefacsimile at 316-777-4081 or electronically as described in the Official Notice of Bond Sale until 10:00 a.m. (CDT) Monday, June 27, 2022. The bids will be considered by the governing body at its meeting at 7:30 p.m. (CDT) on the sale date.

The Series A, 2022 Bonds and the Series B, 2022 Bonds (collectively, the “Bonds”) will be sold separately, and bidders may bid on one or both series of Bonds, but bids must be for the entire amount of the series of Bonds for which a bid is submitted. No oral or auction bids for the Bonds shall be considered, and no bids for less than 100 percent of the total principal amount of the Bonds and accrued interest to the date of delivery shall be considered.

Good Faith Deposit

Bidders must submit a good faith deposit in the form of a wire transfer or certified or cashier’s check made payable to the order of the City, or a financial surety bond (if then available), in an amount equal to 2% of the principal amount of the series of Bonds for which the bidder submits a bid, as further described in the Official Notice.

Details of the Series A, 2022 Bonds

The Series A, 2022 Bonds will be dated July 14, 2022, and will be issued as registered bonds in denominations of $5,000, or any integral multiple thereof. Interest on the Series A, 2022 Bonds is payable semiannually on March 1 and September 1 of each year, beginning March 1, 2023. Principal of the Series A, 2022 Bonds becomes due on September 1 in the years and amounts as shown below:

Series A, 2022 Maturity Schedule
Principal Amount* Maturity Date
$440,000 2023
485,000 2024
510,000 2025
530,000 2026
560,000 2027

Details of the Series B, 2022 Bonds

The Series B, 2022 Bonds will be dated July 14, 2022, and will be issued as registered bonds in denominations of $5,000, or any integral multiple thereof. Interest on the Series B, 2022 Bonds is payable semiannually on March 1 and September 1 of each year, beginning March 1, 2023. Principal of the Series B, 2022 Bonds becomes due on September 1 in the years and amounts as shown below:

Series B, 2022 Maturity Schedule
Principal Amount* Maturity Date
$70,000 2023
80,000 2024
85,000 2025
85,000 2026
90,000 2027
90,000 2028
95,000 2029
95,000 2030
100,000 2031
105,000 2032
105,000 2033
110,000 2034
115,000 2035
120,000 2036
125,000 2037
130,000 2038
135,000 2039
140,000 2040
145,000 2041
150,000 2042

Payment of Principal and Interest

The Treasurer of the State of Kansas will serve as the Bond Registrar and Paying Agent for the Bonds.

Book-Entry Bonds

The Bonds will be issued and registered under a book-entry-only system administered by The Depository Trust Company, New York, New York (“DTC”).

Delivery of the Bonds

The City will prepare the Bonds at its expense and will deliver the registered Bonds to DTC on or about July 14, 2022. Any bond printing costs will be paid by the City from the proceeds of the Bonds or other City funds.

Legal Opinion

The Bonds will be sold subject to the legal opinion of Triplett Woolf Garretson, LLC, Wichita, Kansas, Bond Counsel, whose fees will be paid by the City.

Financial Matters

The City’s current assessed valuation for purposes of calculating statutory debt limitations is $102,168.175. As of July 14, 2022, the City’s total outstanding general obligation debt (including the Bonds), is $28,225,000*. The City’s total indebtedness, which is subject to debt limitation, as of July 14, 2022, is estimated to be $4,916,215.21*, which is 4.81%* of the assessed valuation of the City.

Additional Information

For additional information contact the City Clerk at the address and telephone number shown below, or the Financial Advisor, Greg Vahrenberg, Raymond James & Associates, Inc., 11551 Ash St., Suite 250, Leawood, KS 66211, telephone 816-509-5451.

City of Mulvane, Kansas
Debra M. Parker, City Clerk
City Hall
211 N. 2nd
Mulvane, KS 67110
316-777-1143
Fax: 316-777-4081

* Principal amount subject to change.

Doc. No. 050248