The Haysville City Council on the evening accepted the best bid to sell the city's general obligation bond series 2025-A and approved related ordinance and resolution to issue the bonds to permanently finance infrastructure for the Wheatland Village and Grandin Plaza additions.

City financial adviser Brett Shoven of Stifel Public Finance told the council the city opened bids at 10 a.m. and received six offers. "The best bid was from Raymond James at a true interest cost, 3.872323%," Shoven said, and the bid included a $128,802.60 premium that allowed the city to reduce the estimated bond issue size.

Shoven said the city previously issued temporary notes for the projects and will use bond proceeds, unspent note proceeds and interest earned during construction to pay off the temporary notes. The bond issue is scheduled to close on Sept. 30, 2025. He said special assessment taxes from the improvement districts for Wheatland Village and Grandin Plaza will pay debt service beginning in December 2026.

Why it matters: approving the sale and issuance finalizes permanent financing for the two infrastructure projects and reduces the city's estimated debt service by about $648,000 over the life of the issue, according to the adviser's presentation.

Councilmember Parkland moved to accept the Raymond James bid; the motion carried on a roll call vote. The council then voted to approve an ordinance authorizing issuance and levy of taxes to pay the bonds and to adopt a bond resolution directing sale and delivery of the series 2025-A bonds.

Action details and next steps: staff will calculate special assessments with interest for each property in the improvement districts and include them in the next budget cycle. Shoven said the bulk of proceeds will be routed to the state treasurer along with unspent note proceeds to retire the temporary notes; remaining proceeds will pay issuance costs and 2026 interest because special taxes will not yet be collected.

Quotes from the meeting are attributed to meeting speakers: "The best bid was from Raymond James at a true interest cost, 3.872323%," Brett Shoven said.

Ending: The council recorded unanimous recorded yes votes on the motions to accept the bid, adopt the ordinance and approve the resolution. Staff and the financial adviser will complete closing documents ahead of the late-September closing and calculate the special assessments for inclusion in future budgets.