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Publications iconKansas Register

Volume 41 - Issue 33 - August 18, 2022

(Published in the Kansas Register August 18, 2022.)

City of Bel Aire, Kansas

Summary Notice of Sale
General Obligation Bonds
Series 2022A

General Obligation Temporary Notes
Series 2022B

(General Obligation Bonds and General Obligation Notes Payable from Unlimited Ad Valorem Taxes)


Subject to the Notice of Sale dated August 2, 2022, 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 (the “Columbia Capital Auction”), until 9:30 a.m. (CDT) for the General Obligation Bonds, Series 2022A (the “Bonds”) and 10:00 a.m. (CDT) for the General Obligation Temporary Notes, Series 2022B (the “Notes,”) on September 6, 2022, for the purchase of the Bonds and Notes. No bid of less than 98.0% of the principal amount of the Bonds, and no bid of less than 99.0% of the principal amount of the Notes (collectively, the “Obligations”) and accrued interest thereon to the date of delivery will be considered.

Obligation Details

The Obligations will consist of fully registered bonds and notes in the denomination of $5,000 or any integral multiple thereof. The Obligations will be dated September 27, 2022. The Bonds will become due November 1 in the years as follows:

Year Principal Amount*
2024 $120,000
2025 125,000
2026 130,000
2027 135,000
2028 145,000
2029 150,000
2030 160,000
2031 165,000
2032 170,000
2033 175,000
2034 180,000
2035 190,000
2036 195,000
2037 200,000
2038 210,000
2039 215,000
2040 225,000
2041 235,000
2042 240,000
2043 250,000

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, 2023.

The Notes will become due as follows:

Stated Maturity
(December 1)
2025 $8,975,000

The Notes will bear interest from the Dated Date at rates to be determined when the Notes are sold as hereinafter provided, which interest will be payable semiannually on June 1 and December 1 in each year, beginning on June 1, 2023.

*Adjustment of Issue Size

The Issuer reserves the right to increase or decrease the total principal amount of the Bonds or the Notes, or both, depending on prepaid special assessments, with respect to the Bonds, and 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 Obligation issue based on the discount or premium and interest rates bid on the Obligations. 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 Obligations or principal of any maturity as described herein. If there is an increase or decrease in the final aggregate principal amount of the Obligations 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., Central Time, on the Sale Date. The actual purchase price for the Obligations shall be calculated by applying the percentage of par value bid by the Successful Bidder against the final aggregate principal amount of the Obligations, as adjusted.

Book-Entry-Only System

The Obligations 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 $72,300 for the Bonds and $179,500 for the Notes.


The Issuer will pay for preparation of the Obligations and will deliver the same properly prepared, executed, and registered without cost to the successful bidder on or about September 27, 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 is $90,026,729. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Obligations being sold, but excluding the notes being retired by the Bonds, which will be defeased and no longer be outstanding as of the date of delivery of the Obligations, is $59,115,000.

Approval of Bonds

The Obligations 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 Obligations will be furnished and paid for by the Issuer, printed on the Obligations, and delivered to the successful bidder as and when the Obligations are delivered.

Additional Information

Additional information regarding the Obligations 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
Fax: 316-744-3739

Financial Advisor–Facsimile Bid Delivery Address

Columbia Capital Management, LLC
Attn: Jeff White or Adam Pope
6700 Antioch Rd., Suite 250
Merriam, KS 66204
Fax: 913-312-8053

Dated August 2, 2022.

Melissa Krehbiel
City Clerk

Doc. No. 050443