City of Ellsworth Summary Notice of Bond Sale
(First Published in the Ellsworth County Independent/
Reporter, June 10, 2021)
SUMMARY NOTICE OF BOND SALE
$2,670,000*
CITY OF ELLSWORTH, KANSAS
GENERAL OBLIGATION BONDS, SERIES 2021
(GENERAL OBLIGATION BONDS PAYABLE
FROM UNLIMITED AD VALOREM TAXES)
Bids. SUBJECT to the Notice of Bond Sale dated May 11, 2021 (the “Notice”), facsimile, written and electronic bids will be received on behalf of the Clerk of the City of Ellsworth, Kansas (the “Issuer”) in the case of written or facsimile bids, at the address set forth below, and in the case of electronic bids, through PARITY® until 11:00 A.M. applicable Central Time, on JUNE 28, 2021 for the purchase of the above-referenced bonds (the “Bonds”). No bid of less than 100% 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 July 22, 2021, and will become due on September 1 in the years as follows:
Principal Principal
Year Amount* Year Amount*
2022 $100,000 2032 $135,000
2023 110,000 2033 135,000
2024 115,000 2034 140,000
2025 120,000 2035 140,000
2026 120,000 2036 145,000
2027 125,000 2037 150,000
2028 125,000 2038 150,000
2029 125,000 2039 155,000
2030 130,000 2040 160,000
2031 130,000 2041 160,000
* 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, 2022.
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 $53,400.
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 22, 2021, to DTC for the account of the successful bidder or at such bank or trust company in the contiguous United States of America as may be specified by the successful bidder, or elsewhere at the expense of the successful bidder.
Assessed Valuation and Indebtedness. The Equalized Assessed Tangible Valuation for Computation of Bonded Debt Limitations for the year 2020 is $19,598,202. The total general obligation indebtedness of the Issuer as of the Dated Date, including the Bonds being sold, is $5,950,000.
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 undersigned, or from the Financial Advisor at the addresses set forth below:
DATED: May 11, 2021.
Issuer—Good Faith Deposit Delivery Address:
121 W. 1st Street, P.O. Box 163
Ellsworth, Kansas 67439-3201
Attn: Brittany Rohr, Clerk
Phone No.: (785) 472-5566
Fax No.: (785) 472-4145
Email: brohr@ellsworthks.net
Financial Advisor – Written and Facsimile Bid Address:
Piper Sandler & Co.
11635 Rosewood Street
Leawood, Kansas 66211
Attn: Dustin Avey
Phone No.: (913) 345-3375
Fax No.: (913) 345-3393
Email: dustin.avey@psc.com
1t 6/10