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Reno County sells $5.415 million in bonds for McNew–Mills Road; closing set Aug. 13
Summary
County commissioners approved Resolution 2026‑29 after Stifel Public Finance reported a $5,415,000 bond sale to finance the McNew–Mills Road project, with proceeds and other sources expected to fund $9,477,324 for the project and a true interest cost of 3.67%.
Reno County commissioners unanimously approved a bond‑issuance resolution to finance the McNew–Mills Road project after public‑finance adviser Brett Shogren of Stifel reported final marketing results.
Shogren said under the bond sale parameters the county marketed a $5,415,000 issue and generated premium and initial payments that, together with other sources, resulted in $9,477,324 being placed in the project fund. "We ended up marketing a $5,415,000 issue, with some premium generated and, an initial payment by Evergy for the 1st segment," Shogren said. He told the commission the bonds were marketed at a true interest cost of 3.67%, below the board’s 4.0% threshold, and that the issue is scheduled to close Aug. 13.
The financing plan calls for capitalized interest to cover the first scheduled payment and anticipates KDOT grant payments and later developer pilot payments to contribute to funding the bonds through the life of the financing. Commissioners moved and seconded adoption of Resolution 2026‑29 authorizing sale and delivery of general obligation bonds for the McNew–Mills Road project and approved the resolution by roll call.
