Volume 41 - Issue 46 - November 17, 2022
(Published in the Kansas Register November 17, 2022.)
City of De Soto, Kansas
Summary Notice of Bond Sale
$13,400,000*
General Obligation Improvement Bonds
Series 2022-A
$2,410,000*
General Obligation Improvement Bonds
Series 2022-B
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale date on or about November 17, 2022 (the “Notice”), email and electronic bids will be received for the purchase of the above-referenced bonds (respectively, the “Series 2022-A Bonds” and the “Series 2022-B Bonds,” and together the “Bonds”) on behalf of the City Administrator of the City of De Soto, Kansas (the “Issuer”), in the case of emailed bids, via email to jwhite@columbiacapital.com and jprichard@columbiacapital.com, and in the case of electronic bids, via www.columbiacapitalauction.com. Bids will be received until 9:30 a.m. (CST) December 1, 2022, for the Series 2022-A Bonds, and until 10:00 a.m. (CST) for the Series 2022-B Bonds. No bid of less than 99% of the principal amount of the Series 2022-A Bonds and accrued interest thereon to the date of delivery will be considered. No bid of less than 99% of the principal amount of the Series 2022-B 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 15, 2022, and will become due on September 1 in the years as follows:
| Series 2022-A Bonds | |
|---|---|
| Year | Principal Amount* |
| 2044 | $600,000 |
| 2045 | 1,375,000 |
| 2046 | 1,435,000 |
| 2047 | 1,495,000 |
| 2048 | 1,560,000 |
| 2049 | 1,625,000 |
| 2050 | 1,695,000 |
| 2051 | 1,770,000 |
| 2052 | 1,845,000 |
| Series 2022-B Bonds | |
|---|---|
| Year | Principal Amount* |
| 2039 | $100,000 |
| 2040 | 365,000 |
| 2041 | 450,000 |
| 2042 | 460,000 |
| 2043 | 485,000 |
| 2044 | 550,000 |
The Bonds will bear interest from the Dated Date 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
A good faith deposit in the form of a wire transfer in the amount of 2% of the principal amount of such series of Bonds, payable to the order of the Issuer, will be required by 1:00 p.m. (CST) after notification of being awarded such series of Bonds (as further set forth in the Notice).
Delivery and Payment
The Issuer will pay for printing the Bonds and will deliver the Bonds properly prepared, executed, and registered without cost on or about December 15, 2022, to DTC for the account of the Successful Bidder.
Assessed Valuation and Indebtedness
The total assessed valuation of the taxable tangible property within the Issuer for the year 2022 is $116,772,097. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $32,390,000.
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
Additional information regarding the Bonds may be obtained from the undersigned, or from the Financial Advisor, at the addresses set forth below:
Email Bid Address/Municipal Advisor
Columbia Capital Management
Attn: Jeff White or James Prichard
6700 Antioch, Suite 250
Merriam, KS 66204
913-312-8077 or
913-312-8072 or
888-648-8500
Fax: 913-312-8053
jwhite@columbiacapital.com and
jprichard@columbiacapital.com
Dated November 17, 2022.
City of De Soto, Kansas
Mike D. Brungardt, P.E.
City Administrator
32905 W. 84th St.
De Soto, KS 66018
913-583-1182
*Subject to change as provided in the Notice.
Doc. No. 050674
