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Publications iconKansas Register

Volume 42 - Issue 34 - August 24, 2023

(Published in the Kansas Register August 24, 2023.)

City of Maize, Kansas

Summary Notice of Bond Sale
$2,830,000
General Obligation Bonds, Series 2023A

(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)

Bids

Subject to the Notice of Bond Sale dated July 17, 2023 (the “Notice”), facsimile, email, and electronic bids will be received on behalf of the Clerk of the City of Maize, Kansas (the “Issuer”) at the address set forth below, and in the case of electronic bids, through PARITY® until 11:00 a.m (Central Time) September 11, 2023, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 98.50% 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 September 28, 2023, and will become due on October 1 in the years as follows:

Year Principal Amount*
2025 $105,000
2026 105,000
2027 110,000
2028 115,000
2029 115,000
2030 120,000
2031 125,000
2032 130,000
2033 130,000
2034 135,000
2035 140,000
2036 145,000
2037 150,000
2038 155,000
2039 160,000
2040 165,000
2041 170,000
2042 180,000
2043 185,000
2044 190,000
* 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 April 1 and October 1 in each year, beginning on April 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 2% of the principal amount of the Bonds.

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 September 28, 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 2023 is $95,651,280. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $21,130,000.

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 Financial Advisor at the address set forth below:

Issuer Address

City of Maize, Kansas
Attn: Sue Villarreal, Clerk
City Hall
10100 Grady Ave.
Maize, KS 67101
316-722-7561
Fax: 316-722-0346
svillarreal@maizeks.org

Financial Advisor – Facsimile and Email Bid Delivery Address

Ranson Financial Group, LLC
Attn: Larry Kleeman
200 W. Douglas, Suite 600
Wichita, KS 67202
316-264-3400
Fax: 316-265-5403
larry@citycode.com
Bid email: bids@ransonfinancial.com

Dated July 17, 2023.

Sue Villarreal
Clerk
City of Maize, Kansas

Doc. No. 051431