Closing Memo - Salina 24A
4801 Main Street, Suite 530 | Kansas City, Missouri 64112 | (816) 203-8728 main
Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com
CLOSING MEMORANDUM
June 25, 2024
TO: SEE DISTRIBUTION LIST
FROM: DAVID ARTEBERRY
RE: BOND ISSUE CLOSING ARRANGEMENTS
NAME OF ISSUER: City of Salina, Kansas (the “City”)
AMOUNT, NAME AND DATE
OF ISSUE: $10,970,000
City of Salina, Kansas
General Obligation Internal Improvement Bonds
Series 2024-A
Dated July 2, 2024 (the “Bonds”)
TIME AND DATE OF CLOSING: 10:00 a.m.
Tuesday, July 2, 2024
Via email and telephone
SETTLEMENT NUMBERS: Par Amount of Bonds $10,970,000.00
Add: Reoffering Premium 638,670.25
Less: Underwriter’s Discount (32,300.44)
Less: Good Faith Deposit (216,500.00)
Net Amount Due at Closing $11,359,869.81
METHOD OF FUNDS TRANSFER: Wire Transfer of Federal Funds
Page 2
4801 Main Street, Suite 530 | Kansas City, Missouri 64112 | (816) 203-8728 main
Stifel, Nicolaus & Company, Incorporated | Member SIPC & NYSE | www.stifel.com
TRANSFER INSTRUCTIONS:
(UBS) On Tuesday, July 2, 2024 UBS Financial Services Inc. (“UBS”) will wire
transfer an amount of $11,359,869.81 to:
Equity Bank
ABA #: 101105354
Account Name: City of Salina
Account #: 7701171274
Attn: Debbie Pack
DISPOSITION OF FUNDS:
(City) The City shall deposit the $11,359,869.81 received from UBS along with the
good faith deposit of $216,500.00 and pre-paid special assessments of
$257,428.10 (total of $ 11,833,797.91) into the following funds and accounts
created pursuant to City Resolution No. 24-8217:
Cost of Issuance Account $105,817.07
Redemption Fund 5,000.00
Improvement Fund – Projects 11,600,589.54
Improvement Fund – City Administrative Costs 122,391.30
Total $11,833,797.91
DELIVERY OF TRANSCRIPT
AND LEGAL OPINION: Upon receiving confirmation of receipt of funds, Gilmore & Bell will email a
signed legal opinion to the City, UBS, and Stifel, Nicolaus & Company.
Original signed legal opinions and transcripts will be mailed when completed.
BOND DELIVERY INSTRUCTIONS: The Bonds will be delivered to the facilities of the Depository Trust Company
at least one business day in advance of closing.
PAYMENT OF COSTS OF ISSUANCE: All costs associated with the issuance of the Bonds will be paid after closing
by the City from the Costs of Issuance Account upon presentation of the proper
invoices.