Thomas County Judical Project Special Election
NOTICE OF SPECIAL ELECTION
(Published in the Colby Free Press on August 12, 2019, and August 19, 2019)
NOTICE OF SPECIAL QUESTION ELECTION THOMAS COUNTY, KANSAS
Notice is hereby given to the qualified electors of Thomas County, Kansas (the “County”) that a special question election has been called and will be held on September 17, 2019, for the purpose of submitting to the qualified electors of the County the following proposition:
Shall the following be adopted?
Shall Thomas County, Kansas, be authorized to: (1) impose a one-quarter percent (0.25%) retailers' sales tax (the “Sales Tax”) for the purpose of financing the construction or remodeling of the courthouse, jail, law enforcement center facility or other county administrative facility, and all improvements appurtenant thereto (collectively the “Project”), collection of such Sales Tax to commence on January 1, 2020, or as soon thereafter as permitted by law, and to expire upon the payment of all costs incurred in the financing of the Project (including the retirement of any bonds issued and payable from such sales tax); and (2) issue sales tax/general obligation bonds (the “Bonds”) in an amount not to exceed $10,335,000 to pay the costs of the Project, related interest costs during construction and issuance costs; provided that prior to such bond issuance the County receives a comprehensive feasibility study that indicates the revenues received from the Sales Tax and the existing 0.50% sales tax will be sufficient to retire the Bonds and other outstanding bonds secured by such sales taxes without the necessity of levying any ad valorem taxation; all pursuant to the authority of K.S.A. 12-187 et seq., as amended?
IT IS IMPORTANT FOR EACH QUALIFIED VOTER TO NOTE THAT YOUR BALLOT CANNOT BE COUNTED UNLESS YOU TAKE THE APPROPRIATE STEPS:
To vote in favor of any question submitted on this ballot, darken the oval to the left of the word “Yes.” To vote against it, darken the oval to the left of the word “No.”
The election will be conducted by the officers and/or persons provided by law for holding elections, and the method of voting will be by ballot. The polls will open at 7:00 o'clock A.M. and will close at 7:00 o'clock P.M., on September 17, 2019, the election day. The only voting place in the County on September 17, 2019 will be the Colby Community Building, 285 E. 5th Street, Colby, Kansas 67701.
Registered voters are eligible to vote by advance voting ballot upon application to the County Clerk set forth below pursuant to K.S.A. 25-1117 et seq.
The following additional information is provided by the County with respect to compliance with the provisions of K.S.A. 10-120a and K.S.A. 12-6,122. This information has been obtained from sources
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deemed reliable by the County. Certain portions of this information are based upon projections. No assurances can be given that these projections will be accurate as of the date of issuance of the bonds due to changing market conditions and other matters unknown or unavailable at this time. The assumed principal repayment schedule and the average interest rates are based on recent bond issues for similar types of financings all as shown below.
Sources of Funds
Bonds to be Issued
Uses of Funds
Projected Summary of Project Costs
$10,335,000 Project Costs, Land Acquisition and Architect/ Engineering
Fees and Testing, etc.
0 Issuance Expenses (including attorney fees, printing costs, rating agency fees, financial advisor fees, underwriting fees and other miscellaneous expenses), allowance for discount bid, and capitalized
Projected Summary of Bond Issue Repayments for the proposed Series 2019 Bonds and the Outstanding Series 2017 Bonds
Estimated Annual 0.75% Aggregate Sales Tax Revenues1: $1,470,000
1 Based on previous 5-year average. Includes revenue from the proposed 0.25% sales tax and the existing 0.50% sales tax.
Principal Repayment Term:
Average Interest Rate:
Total Estimated Interest Cost to Maturity:
28 years 3.20% $4,941,835
Average Annual Principal and Interest Payment for the proposed Series 2019 Bonds: Combined Average Annual Principal and Interest Payment for the proposed Series 2019 Bonds and the Outstanding Series 2017 Bonds:
0.00 mills3 0.40 mills3 1.39 mills3
Ad Valorem Taxation Based on 100% of Estimated Sales Tax Collections2: Ad Valorem Taxation Based on 90% of Estimated Sales Tax Collections2: Ad Valorem Taxation Based on 80% of Estimated Sales Tax Collections2:
$0 $59,444 $206,444
2 Based on previous 5-year average. Includes revenue from the proposed 0.25% sales tax and the existing 0.50% sales tax. 3 Based on 2019 Assessed Valuation of $148,558,860.
The election officer conducting the election will be the County Clerk of Thomas County, Kansas, whose address is: 300 N. Court Ave, Colby, Kansas 67701.
DATED: July 15, 2019.
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Shelly A. Harms, County Clerk Thomas County, Kansas