Volume 42 - Issue 5 - February 2, 2023
(Published in the Kansas Register February 2, 2023.)
Unified Government of Wyandotte County/Kansas City, Kansas
Summary Notice of Bond Sale
$44,100,000*
General Obligation Improvement Bonds
Series 2023-A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated on or about January 26, 2023 (the “Notice”), bids for the purchase of the above-referenced bonds (the “Bonds”) of the Unified Government of Wyandotte County/Kansas City, Kansas (the “Issuer”) herein described will be received until 10:00 a.m. (Central Time) (the “Submittal Hour”) February 16, 2023 (the “Sale Date”). Bids may only be submitted via PARITY® or via email to the Municipal Advisor at bids@bakertilly.com. Facsimile bids and hand-delivered written bids will not be accepted. No bid of less than 100% 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 March 16, 2023, and will become due on August 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2024 | $1,830,000 |
| 2025 | 2,485,000 |
| 2026 | 2,560,000 |
| 2027 | 2,645,000 |
| 2028 | 2,725,000 |
| 2029 | 2,815,000 |
| 2030 | 2,905,000 |
| 2031 | 2,995,000 |
| 2032 | 3,090,000 |
| 2033 | 1,500,000 |
| 2034 | 1,550,000 |
| 2035 | 1,605,000 |
| 2036 | 1,665,000 |
| 2037 | 1,730,000 |
| 2038 | 1,795,000 |
| 2039 | 1,870,000 |
| 2040 | 1,955,000 |
| 2041 | 2,035,000 |
| 2042 | 2,125,000 |
| 2043 | 2,220,000 |
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 February 1 and August 1 in each year, beginning on February 1, 2024.
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
The Successful Bidder shall submit a good faith deposit in the form of a wire transfer in Federal Reserve funds immediately available for use by the Issuer in the amount of 2% of the principal amount of the Bonds in the manner that complies with the requirements set forth in the Notice of Sale.
Delivery
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 March 16, 2023, 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 was $1,865,738,517. The total general obligation indebtedness of the Issuer as of the date of the Bonds, including the Bonds and the temporary notes being issued contemporaneously with the Bonds (the “Notes”), but excluding the temporary notes to be retired with the proceeds of the Bonds, the Notes, and other funds of the Issuer, is $486,660,000, of which $471,440,000 is indebtedness of the Issuer payable only from taxes on taxable tangible property in the City of Kansas City, Kansas, and $15,220,000 is indebtedness of the Issuer payable from taxes on all taxable tangible property within Wyandotte County, Kansas.
Approval of Bonds
The Bonds will be sold subject to the 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 Municipal Advisor at the addresses set forth below:
Municipal Advisor
Baker Tilly Municipal Advisors, LLC
Attn: Bond Services
30 E. Seventh St., Suite 3025
Saint Paul, MN 55101
651-223-3000
bids@bakertilly.com
Dated February 2, 2023.
Unified Government of Wyandotte County/Kansas City, Kansas
Debbie Jonscher
Deputy Chief Financial Officer
701 N. 7th St.
Kansas City, KS 66101
913-573-5270
Fax: 913-573-5003
*Subject to change; see the Notice.
Doc. No. 050854
