NOTICE OF BOND ELECTION

UNIFIED SCHOOL DISTRICT NO. 394,

BUTLER COUNTY, KANSAS (ROSE HILL)

The Board of Education of Unified School District No. 394, Butler County, Kansas (Rose Hill) (the “District”), has heretofore, pursuant to resolution duly adopted, declared it advisable to make and finance certain improvements to District facilities pursuant to the provisions of K.S.A. 10‑101 et seq., K.S.A. 25‑2018(f), K.S.A. 72‑5457, and K.S.A. 72‑5458 et seq. Notice is hereby given to the qualified electors of the District that a bond election has been called and will be held on November 5, 2024, for the purpose of submitting to the qualified electors of the District the following proposition:

Shall the following be adopted?

Shall Unified School District No. 394, Butler County, Kansas (Rose Hill), issue general obligation bonds in an amount not to exceed $19,995,000, to pay the costs to: (a) construct, equip and furnish new spaces and make improvements to existing District buildings to enhance safety and security and provide additional classroom and support spaces to enhance education and accommodate enrollment growth; (b) at Rose Hill Primary/Intermediate School: construct, equip and furnish an addition to provide general purpose classrooms and a kiln room with the area to also function as a storm shelter area; make improvements to the playground surfaces/areas; provide technology/security and LED lighting upgrades, as needed; and make renovations to entrances at both schools for enhanced safety and security; (c) at Rose Hill Middle School: construct, equip and furnish an addition to provide additional classrooms/general education space as well as function as a storm shelter area; provide upgrades to all HVAC systems, smoke detectors and LED lighting, as needed; and make improvements to the building front entrance to enhance safety and security; (d) at Rose Hill High School: construct, equip and furnish an addition/additions to create space for PE, wrestling and weight training and to also function as a storm shelter area; make upgrades to building entrances for enhanced safety and security; make improvements to the auditorium including new seating, flooring, curtains, lighting and sound; make improvements to bell/intercom systems and sound systems in the gyms; make renovations to the FACS (Family and Consumer Science) classroom, the old weight room, wrestling room and other classrooms; replace flooring in numerous classrooms and corridors and install LED lighting upgrades; install field turf to an outdoor Band/PE/Soccer area; and install a new softball field with turf; (e) make all other necessary improvements appurtenant thereto (collectively, the “Project”); and (f) pay costs of issuance and interest on the general obligation bonds of the District during the construction of the Project; all pursuant to the provisions of K.S.A. 10‑101 et seq., K.S.A. 25‑2018(f), K.S.A. 72‑5457, and K.S.A. 72‑5458 et seq.?

To vote in favor of any question submitted on this ballot, press the word “Yes” on the voting machine or completely darken the oval to the left of the word “Yes” on the paper ballot. To vote against it, press the word “No” on the voting machine or completely darken the oval to the left of the word “No” on the paper ballot.

YES

NO

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The polls will open at 6:00 o'clock A.M. and will close at 7:00 o'clock P.M., on November 5, 2024, the election day. The voting places in the District, and the area each voting place will serve, will be as follows: 

 

[PLEASE NOTE: DISTRICT IS IN MULTIPLE COUNTIES; PLEASE INCLUDE/CONFIRM POLLING PLACE INFORMATION FOR BUTLER COUNTY AND SEDGWICK COUNTY]

 

Voters Residing In Precinct

Will Vote At

Location

GY01

The Sandbox

2412 N Rock Rd, Derby, KS

RO01

South Rock Christian Church

900 S Rock Rd, Derby, KS

 

 

 

 

 

 

 

 

 

 

 

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. Registered voters are eligible to vote by advance voting ballot upon application to the County Clerk at the address set forth below pursuant to K.S.A. 25‑1117 et seq.

 

ADDITIONAL INFORMATION

 

The Capital Improvement Fund (“CIF”) has been established in the treasury of the State of Kansas to assist school districts with making principal and interest payments on voted general obligation bond issues. The amount of CIF funding each school district receives is based on a formula prescribed by statute and implemented by the State Board of Education (“Bond State Aid”). Based on the current formula, the District expects to receive Bond State Aid in the approximate amount set forth below to assist with making the principal and interest payments on the Bonds. No assurance can be given that Bond State Aid will continue at this or any amount in future years.

 

The following additional information is provided by the District 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 deemed reliable by the District. 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, any changes in assessed valuation of the District, changes in the amount of state financial aid received by the District and other matters unknown or unavailable at this time. The projected rates of property taxation to be used to pay the principal of and interest on the Bonds are based upon the current assessed valuation of the District, the assumed principal repayment schedule and the average interest rates from recent bond issues for similar types of financings and the current level of Bond State Aid the District would receive with respect to the Bonds, all as shown below.

 

Projected Summary of Project Costs

 

 

Sources of Funds

Uses of Funds

 

 

Bonds to be Issued

$19,995,000

Project Costs (including architectural/engineering services)

$19,900,000

Interest Earnings

796,000

Interest During Construction

561,082

 

 

Issuance Expenses (including attorney fees, printing costs, rating agency fees, financial advisor fees, underwriting fees and other miscellaneous expenses)

329,918

Total

$20,791,000

Total

$20,791,000

Projected Summary of Bond Issue Repayments

 

 

 

Principal payments over 16 years

 

Average Interest Rate 4.25%

 

 

 

Total Interest Cost to Maturity $10,423,922

 

Assessed Valuation (2023) $121,446,390

Average Annual Principal and Interest Payments

 

$1,901,183

 

 

 

Portion of average annual principal and interest payments from Bond State Aid

 

$12,171

 

 

 

Portion of average annual principal and interest payments from District funds

 

$1,889,011

Average Annual Property Tax Mill Levy Rate for Principal and Interest Payments

 

 

 

Total (without any Bond State Aid)

 

12.31 Mills

 

 

 

District Portion (with current level of Bond State Aid)

 

12.22 Mills

The election officer conducting the election will be the County Clerk of Butler County, Kansas, whose address is 205 W. Central Avenue, El Dorado, Kansas 67042.