Volume 42 - Issue 29 - July 20, 2023
(Published in the Kansas Register July 20, 2023.)
City of Eudora, Kansas
Summary Notice of Bond Sale
$5,400,000*
General Obligation Bonds, Series 2023-A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated on or about August 3, 2023 (the “Notice”), email and electronic bids will be received on behalf of the City Clerk of the City of Eudora, Kansas (the “Issuer”) in the case of email bids, at bids@bakertilly.com, and in the case of electronic bids, through PARITY® until 10:30 a.m. (Central Time) August 14, 2023, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 98.8% 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 29, 2023, and will become due on September 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2024 | $95,000 |
| 2025 | 95,000 |
| 2026 | 100,000 |
| 2027 | 100,000 |
| 2028 | 180,000 |
| 2029 | 480,000 |
| 2030 | 490,000 |
| 2031 | 510,000 |
| 2032 | 525,000 |
| 2033 | 535,000 |
| 2034 | 430,000 |
| 2035 | 445,000 |
| 2036 | 455,000 |
| 2037 | 470,000 |
| 2038 | 490,000 |
| * 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 for the Bonds 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.
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 29, 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 $70,834,212. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold and excluding the temporary notes being retired with proceeds of the Bonds, is $16,345,000.
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 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:
Financial 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 July 20, 2023.
City of Eudora, Kansas
Kelly Delay
City Clerk
Eudora City Hall
4 E. Seventh St.
Eudora, KS 66025
785-542-2153
Fax: 785-542-1237
kdelay@cityofeudoraks.gov
Doc. No. 051338
