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Haysville approves resolution to offer sale of $4.7M in general-obligation bonds for Wheatland and Grandin Plaza projects
Summary
Council approved a bond-sale resolution that authorizes offering roughly $4.7 million in general-obligation bonds to finance infrastructure for the Wheatland and Grandin Plaza additions; sale date set for Sept. 8 and closing Oct. 1.
The Haysville City Council voted Aug. 11 to authorize the offering for sale of general-obligation bonds, series 2025-A, to finance infrastructure costs for the Wheatland and Grandin Plaza additions.
Brett Shogren, financial advisor with Stifel, Nicholas & Co., told the council the estimated bond size is $4,725,000 and that proceeds, together with any unspent temporary note funds and interest, will be used to pay off previously issued temporary notes on closing day, Oct. 1, 2025. Shogren said property owners were notified and a public hearing on special assessments was held July 14; to his knowledge no property owners had prepaid their assessments.
“We’ve already begun the process of building the official statement,” Shogren said, adding the city will seek an underlying Moody’s rating and open bidding on the bonds on Sept. 8. “We will award the bonds to the purchaser that provides the city with the lowest true interest cost on the bonds.”
Council member motioned to approve the bond-sale resolution as presented; the motion was seconded and approved. The council directed staff to report back at the next meeting with sale results after Sept. 8 and closing details for Oct. 1.
The council noted the city currently has an A2 Moody’s rating and Shogren said Moody’s is expected to reaffirm that rating during the offering process. Counsel and staff did not record further conditions on the sale in the public record.
