Volume 41 - Issue 33 - August 18, 2022
(Published in the Kansas Register August 18, 2022.)
City of Edgerton, Kansas
Summary Notice of Bond Sale
General Obligation Bonds
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Subject to the Notice of Bond Sale dated on or about September 1, 2022 (the “Notice”), email and electronic bids will be received on behalf of the Deputy Clerk of the City of Edgerton, Kansas (the “Issuer”) in the case of email bids, via email to email@example.com and firstname.lastname@example.org, and in the case of electronic bids, via http://www.columbiacapitalauction.com until 9:30 a.m., (CDT) September 8, 2022, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 97.5% 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 September 22, 2022, and will become due on August 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 February 1 and August 1 in each year, beginning on February 1, 2023.
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 2% of the total principal amount of the Bonds.
Delivery and Payment
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 September 22, 2022, 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 was $56,307,266. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold is $10,565,000; such amount includes the Issuer’s 2022 temporary notes in the approximate principal amount of $990,000 which are expected to be issued on or about the Closing Date, but excludes the City’s 2020 temporary notes to be retired with a portion of the proceeds of the 2022 temporary notes.
Approval of Bonds
The Bonds will be sold subject to the approving legal opinion of Gilmore & Bell, P.C., Kansas City, Missouri, 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.
Financial Advisor – Email Bid Address
Dated September 1, 2022.
City of Edgerton, Kansas
Christopher Clinton, Deputy Clerk
404 E. Nelson St.
Edgerton, KS 66021
*Preliminary; subject to change as provided in the Notice.
Doc. No. 050436