Johnson County Unified School District, Kan., plans $61 million bond sale Jan. 13 for construction

By Lisa Kerner

Charlotte, N.C., Jan. 9 - Johnson County (Blue Valley) Unified School District No. 229 of Kansas will sell $61 million of series 2014-A general obligation school bonds on Jan. 13.

The (Aaa) bonds are serial with a term option, according to executive director of business and finance Jenni Newell.

"The bonds are being issued to finance various improvements within the district, which includes purchase and improvements of sites, renovations and improvements to existing buildings and new technology, with a small portion used to pay the costs associated with the issuance of the bonds," said Newell.

The majority of funds from this sale will be used for the construction of an Early Childhood and Professional Development Center, secure entrances to school facilities and technology.

Voters approved the bond issue on Jan. 31, 2012 as part of a multi-year capital plan totaling about $271.3 million.

Proceeds from the previously sold bonds have been substantially expended, and new money is needed to continue projects, Newell said.

The bonds are secured by ad valorem taxes, which may be levied without limitations as to rate or amounts upon all taxable property, real and personal, within the territorial limits of the district, according to Newell.

George K Baum & Co. is the advisor.

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