Volume 43 - Issue 23 - June 6, 2024
(Published in the Kansas Register June 6, 2024.)
Ford County, Kansas
Summary Notice of Bond Sale
$8,495,000*
General Obligation Bonds, Series 2024-A
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated May 6, 2024 (the “Notice”), facsimile and electronic bids will be received on behalf of the County Administrator and County Clerk of Ford County, 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) June 26, 2024, for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 100% of the principal amount of the Bonds.
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 July 25, 2024, and will become due on September 1 in the years as follows:
| Year | Principal Amount* |
|---|---|
| 2025 | $250,000 |
| 2026 | 295,000 |
| 2027 | 310,000 |
| 2028 | 325,000 |
| 2029 | 345,000 |
| 2030 | 360,000 |
| 2031 | 380,000 |
| 2032 | 390,000 |
| 2033 | 400,000 |
| 2034 | 415,000 |
| 2035 | 425,000 |
| 2036 | 440,000 |
| 2037 | 455,000 |
| 2038 | 470,000 |
| 2039 | 490,000 |
| 2040 | 510,000 |
| 2041 | 525,000 |
| 2042 | 550,000 |
| 2043 | 570,000 |
| 2044 | 590,000 |
| * 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, 2025.
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 $169,900.
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 July 25, 2024, 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 $409,635,958. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $8,495,000; such amount excludes the temporary notes in the principal amount of $8,135,000 will be retired out of proceeds of the Bonds.
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
Ford County, Kansas
Attn: Debbie Cox, County Clerk
Ford County Government Center
100 Gunsmoke
Dodge City, KS 67801
620-227-4670
Fax: 620-227-4699
dcox@fordcounty.net
Municipal Advisor
Stifel, Nicolaus & Company, Incorporated
Attn: David Arteberry
4801 Main St., Suite 530
Kansas City, MO 64112
816-203-8733
Fax: 620-227-4699
arteberryd@stifel.com
Dated May 6, 2024.
Debbie Cox
County Clerk
Ford County, Kansas
Doc. No. 052184
