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Publications iconKansas Register

Volume 41 - Issue 42 - October 20, 2022

(Published in the Kansas Register October 20, 2022.)

City of Derby, Kansas

Summary Notice of Bond Sale
General Obligation Bonds, Series 2022-A

(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)


Subject to the Notice of Bond Sale dated October 11, 2022 (the “Notice”), facsimile and electronic bids will be received on behalf of the Director of Finance of the City of Derby, Kansas (the “Issuer”) in the case of facsimile bids, at the address set forth below, and in the case of electronic bids, through PARITY® until 11:00 a.m. (CDT) November 3, 2022, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 98.1% 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 1, 2022, and will become due on December 1 in the years as follows:

Year Principal Amount*
2024 $100,000
2025 105,000
2026 110,000
2027 110,000
2028 115,000
2029 120,000
2030 125,000
2031 130,000
2032 135,000
2033 140,000
2034 145,000
2035 150,000
2036 155,000
2037 160,000
2038 165,000
2039 40,000
2040 40,000
2041 45,000
2042 50,000
2043 50,000

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 June 1 and December 1 in each year, beginning on December 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 $43,800.


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 1, 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 2022 is $320,264,919. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $68,355,000; such amount excludes temporary notes in the aggregate principal amount of $1,985,000 which will be retired out of proceeds of the Bonds.

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 Municipal Advisor at the addresses set forth below:


City of Derby, Kansas
Attn: Director of Finance
City Hall
611 N. Mulberry
Derby, KS 67037
Fax: 316-788-6067

Municipal Advisor

Baker Tilly Municipal Advisors, LLC
Attn: Bond Services
30 E. 7th St., Suite 3025
Saint Paul, MN 55101

Dated October 11, 2022.

Megan Sneller
Director of Finance

* Subject to change, see the Notice

Doc. No. 050602