Volume 41 - Issue 40 - October 6, 2022
(Published in the 麻豆影院 Register October 6, 2022.)
City of Ottawa, 麻豆影院
Summary Notice of Bond Sale
$5,255,000*
General Obligation Refunding and Improvement Bonds,
厂别谤颈别蝉听2022-础
(General Obligation Bonds Payable from Unlimited Ad Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated on or about October 10, 2022 (the聽鈥淣otice鈥), bids will be received by the City Clerk of the City of Ottawa, 麻豆影院 (the聽鈥淐ity鈥), on behalf of the governing body at the address set forth below, in the case of facsimile bids, at the fax number set forth below, or, in the case of electronic proposals, via PARITY® Electronic Bid Submission System (鈥淧ARITY鈥) until 10:00聽a.m. (CDT) October聽18,聽2022, for the purchase of $5,255,000* principal amount of General Obligation Refunding and Improvement Bonds, 厂别谤颈别蝉听2022-础 (the聽鈥淏onds鈥). No bid of less than 100% of the par value of the Bonds, plus accrued interest to the date of delivery, will be considered. Bidders may be required to be qualified in a manner established by the City before submitting a bid. The inclusion of the refunding component of the Bonds is conditioned on obtaining interest cost savings in an amount acceptable to the governing body of the City.
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 November 16, 2022 (the聽鈥淒ated聽Date鈥), and will become due on October 1 in the years as follows:
| Maturity | Principal Amount* |
|---|---|
| 2023 | $440,000 |
| 2024 | 440,000 |
| 2025 | 580,000 |
| 2026 | 610,000 |
| 2027 | 630,000 |
| 2028 | 645,000 |
| 2029 | 670,000 |
| 2030 | 480,000 |
| 2031 | 375,000 |
| 2032 | 385,000 |
The Bonds will bear interest from the Dated Date at rates to be determined when the Bonds are sold as provided in the Notice, which interest will be payable semiannually on April 1 and October 1 in each year, beginning on April 1,聽2023. A bidder may elect to have all or a portion of the Bonds scheduled to mature in consecutive years issued as term bonds subject to the requirements set forth in the Notice.
Paying Agent and Bond Registrar
Treasurer of the State of 麻豆影院, Topeka, 麻豆影院.
Good Faith Deposit
Each bid for the Bonds shall be accompanied by a cashier鈥檚 or certified check drawn on a bank located in the United States of America or a wire transfer in the manner that complies with the requirements set forth in the Notice in the amount of $105,100 (2%聽of the principal amount of the Bonds).
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 November聽16,聽2022, through the facilities of The Depository Trust Company, New聽York, New聽York.
Assessed Valuation and Indebtedness
The City鈥檚 equalized assessed tangible valuation for computation of bonded debt limitations for the year 2021 is $128,092,763. The total general obligation indebtedness of the City as of the date of the Bonds, including the Bonds, is $26,217,970.
Approval of Bonds
The Bonds will be sold subject to the legal opinion of Kutak Rock LLP, 麻豆影院聽City, Missouri, Bond Counsel, whose approving legal opinion as to the validity of the Bonds will be furnished and paid for by the City 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 City Clerk, the City鈥檚 Municipal Advisor, Stifel Nicolaus & Company, Incorporated, Attn: David Arteberry, 4801 Main St., Suite 530, 麻豆影院 City, MO 64112, phone 816-203-8733, or from Kutak Rock LLP, Bond Counsel, Attn: Tyler Ellsworth, 2300 Main St., Suite 800, 麻豆影院 City, MO 64108-2416, phone 816-960-0090.
Dated September 29, 2022.
City of Ottawa, 麻豆影院
Melissa Reed
City Clerk
Ottawa City Hall
101 S. Hickory St.
Ottawa, KS 66067
785-229-3600
*Subject to change.
Doc. No. 050565
