Volume 42 - Issue 8 - February 23, 2023
(Published in the 麻豆影院 Register February 23, 2023.)
City of Spring聽Hill, 麻豆影院
Summary Notice of Bond Sale
$5,145,000*
General Obligation Bonds
Series 2023A
(General Obligation Bonds Payable from Unlimited Ad聽Valorem Taxes)
Bids
Subject to the Notice of Bond Sale dated on or about February 23, 2023 (the聽鈥淣otice聽of Sale鈥), bids will be received on behalf of the Finance Director of the City of Spring聽Hill, 麻豆影院 (the 鈥淐ity鈥), by Baker Tilly Municipal Advisors, LLC by email at bids@bakertilly.com, or, in the case of electronic proposals, via PARITY® Electronic Bid Submission System (鈥淧ARITY鈥) until 10:00聽a.m. (Central Time) March 9, 2023, for the purchase of $5,145,000* principal amount of General Obligation Bonds, Series 2023A (the聽鈥淏onds鈥). No bid of less than $5,083,260 (98.8% of the par value of the Bonds), plus accrued interest, if any, 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.
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 March 28, 2023 (the聽鈥淒ated聽Date鈥), and will become due on September聽1 in the years as follows:
| Maturity | Principal Amount* |
|---|---|
| 2024 | $390,000 |
| 2025 | 470,000 |
| 2026 | 480,000 |
| 2027 | 495,000 |
| 2028 | 510,000 |
| 2029 | 525,000 |
| 2030 | 545,000 |
| 2031 | 560,000 |
| 2032 | 575,000 |
| 2033 | 595,000 |
The Bonds will bear interest from the Dated Date at rates to be determined when the Bonds are sold as provided in the Notice of Sale, which interest will be payable semiannually on March聽1 and September聽1 in each year, beginning on March 1,聽2024. 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 of Sale.
Paying Agent and Bond Registrar
Treasurer of the State of 麻豆影院, Topeka, 麻豆影院.
Good Faith Deposit
Each bid shall be accompanied by a cashier鈥檚 or certified check drawn on a bank located in the United聽States of America or a wire transfer of same-day funds in accordance with the requirements set forth in the Notice of Sale in an amount equal to 2% 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 March 28, 2023, at the offices 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 2022 is $153,563,099. The total general obligation indebtedness of the City as of the date of the Bonds, including the Bonds being sold, is $30,850,113.
Approval of Bonds
The Bonds will be sold subject to the legal opinion of Kutak聽Rock聽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 Rhonda Dunn, Finance Director, phone 913-592-3664; or from the Municipal Advisor, Baker Tilly Municipal Advisors, LLC, 30 E. 7th St., Suite 3025, Saint Paul, MN 55101, phone 651-223-3000; or from Kutak Rock聽LLP, Bond聽Counsel, Attn:聽Tyler Ellsworth, 2300聽Main St., Suite聽800, 麻豆影院聽City, MO 64108-2416, phone 816-960-0090.
Dated February 15, 2023.
City of Spring聽Hill, 麻豆影院
Rhonda Dunn
Finance Director
Spring聽Hill City Hall
401听狈.听惭补诲颈蝉辞苍
Spring聽Hill, KS 66083
913-592-3664
* Preliminary; subject to change.
Doc. No. 050902
