Volume 42 - Issue 29 - July 20, 2023
(Published in the Kansas Register July 20, 2023.)
City of Leawood, Kansas
Summary Notice of Sale
$9,500,000*
General Obligation Bonds, Series 2023-A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Sale dated on or about July 31, 2023 (the “Notice”), emailed and electronic bids will be received on behalf of the Finance Director of the City of Leawood, Kansas (the “City”) in the case of emailed bids, via email to the City’s Municipal Advisor at arteberryd@stifel.com, and in the case of electronic bids, via PARITY (“PARITY”) on August 7, 2023 (the “Sale Date”) until 12:30 p.m. (Central Time) 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 24, 2023, and will become due on September 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2024 | $470,000 |
| 2025 | 485,000 |
| 2026 | 490,000 |
| 2027 | 500,000 |
| 2028 | 505,000 |
| 2029 | 510,000 |
| 2030 | 515,000 |
| 2031 | 515,000 |
| 2032 | 520,000 |
| 2033 | 530,000 |
| 2034 | 535,000 |
| 2035 | 545,000 |
| 2036 | 555,000 |
| 2037 | 565,000 |
| 2038 | 575,000 |
| 2039 | 310,000 |
| 2040 | 325,000 |
| 2041 | 335,000 |
| 2042 | 350,000 |
| 2043 | 365,000 |
| * 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
The successful bidder must submit a good faith deposit in the amount of 2% of the principal amount of the Bonds, in the form of a wire transfer in Federal Reserve funds immediately available for use by the City, by 3:00 p.m. (Central Time) on the Sale Date, as further set forth in the Notice.
Delivery
The City 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 24, 2023, to DTC for the account of the successful bidder.
Assessed Valuation and Indebtedness
The equalized assessed valuation of the City for 2022 for computation of bonded debt limitations in 2023 is $1,272,284,570. The total general obligation indebtedness of the City as of the Dated Date, including the Bonds being sold and temporary notes being sold contemporaneously with the Bonds but excluding any temporary notes to be refunded with proceeds of temporary notes and the Bonds, is $111,160,000.
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 City, whose approving legal opinion as to the validity of the Bonds will be furnished and paid for by the City, 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
Stifel, Nicolaus & Company, Inc.
Attn: David Artberry
4801 Main St., Suite 530
Kansas City, MO 64112
816-203-8733
arteberryd@stifel.com
Dated July 20, 2023.
City of Leawood, Kansas
Don Cawby
Finance Director
City Hall
4800 Town Center Dr.
Leawood, KS 66211
913-663-9121
Doc. No. 051337
