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Publications iconKansas Register

Volume 42 - Issue 29 - July 20, 2023

(Published in the Kansas Register July, 2023.)

City of Dodge City, Kansas

Summary Notice of Bond Sale
$6,905,000*
General Obligation Bonds, Series 2023-A

(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)

Bids

Subject to the Notice of Bond Sale dated July 3, 2023 (the “Notice”), facsimile and electronic bids will be received on behalf of the Director of Finance of the City of Dodge City, 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. (Central Time) August 7, 2023, for the purchase of the above-referenced bonds (the “Bonds”). 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 August 31, 2023, and will become due on September 1 in the years as follows:

Year Principal Amount*
2024 $230,000
2025 240,000
2026 255,000
2027 265,000
2028 280,000
2029 290,000
2030 300,000
2031 310,000
2032 320,000
2033 330,000
2034 345,000
2035 355,000
2036 370,000
2037 380,000
2038 395,000
2039 415,000
2040 430,000
2041 445,000
2042 465,000
2043 485,000
* Subject to change, see the Notice

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 March 1 and September 1 in each year, beginning on March 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

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 $138,100.

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 August 31, 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 is $207,792,274. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds and temporary notes being sold, is $73,720,000.

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:

Issuer

City of Dodge City, Kansas
Attn: Nicole May, Director of Finance
City Hall
806 2nd Ave.
PO Box 880
Dodge City, KS 67801
620-225-8100
Fax: 620-225-8144
nicolem@dodgecity.org

Municipal Advisor

Piper Sandler & Co.
Attn: Dustin Avey
11635 Rosewood St.
Leawood, KS 66211
913-345-3375
Fax: 913-345-3393
dustin.avey@psc.com

Dated July 3, 2023.

Nicole May
Director of Finance
City of Dodge City, Kansas

Doc. No. 051329