The Haysville City Council voted at the meeting to accept a bid from Raymond James & Associates to underwrite the city’s general obligation bond issue for infrastructure improvements in the Wheatland Village and Grandin Plaza additions.

Brett Shoven of Stifel Public Finance, the city’s financial advisor, told the council that bidders were solicited this morning and Raymond James submitted the best bid at a true interest cost of 3.872323 percent and included a bid premium of $128,802.60. Shoven said those results allowed the city to reduce the previously estimated bond size and lower the total debt service over the life of the issue.

Shoven said the transaction was submitted to Moody’s Investors Service, which assigned and reaffirmed an A2 rating for the city. He said the bond sale will permanently finance projects previously covered by general obligation temporary notes issued in 2023 and 2024 and that the bond issue is scheduled to close on Sept. 30, 2025. Shoven said special assessments from the improvement districts in the two developments will pay the debt service beginning in December 2026.

Why it matters: The bonds convert temporary construction financing into permanent debt and shift repayment to the property owners in the improvement districts through special assessments. The financing details — the interest cost, the premium, Moody’s rating and the reduced issue size — determine the city’s long‑term debt service obligations and how much eventually will be assessed to property owners in those development areas.

Council action: Councilperson Parkland moved to accept the Raymond James bid; the motion carried. The council then voted to adopt the bond ordinance authorizing issuance of general obligation bonds series 2025‑A and passed a companion resolution directing sale and delivery of the bonds.

Council staff and Shoven said the bulk of proceeds will go to the state treasurer’s office to retire the temporary notes; remaining proceeds will cover issuance costs and interest payments during 2026 because special assessments will not be collected until late 2026. Shoven said staff will calculate the assessments and include them in the next budget cycle.

Quotes: “That was a great result,” Brett Shoven said describing the bid outcome and the city’s confirmed A2 rating.

Next steps: Staff will finalize assessment calculations for the improvement districts, close the bond transaction on Sept. 30, 2025, and incorporate assessment amounts into future budgets.