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[snorts]

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» Recording in progress.

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» Good evening, ladies and gentlemen, and

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welcome to this regular session meeting

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of the Leawood governing body. It's

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August the 10th, 2026.

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I will call the meeting to order

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and ask that we all rise for the pledge

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of allegiance, please. Please follow me.

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I pledge allegiance to the flag of the

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United States of America and to the

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republic for which it stands, one nation

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under God, indivisible, with liberty and

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justice for all.

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Thank you. Please be seated.

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>> [clears throat and cough]

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» And with that, I would ask the clerk to

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call the roll, please.

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>> Councilmember Pepas.

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» Councilmember Pepas.

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>> Here.

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» Here.

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>> Councilmember Gaeddert.

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» Councilmember Gaeddert.

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>> Here.

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» Here.

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>> Councilmember Harrison.

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» Councilmember Harrison.

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>> Here.

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» Here.

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>> Councilmember Ruben.

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» Councilmember Ruben.

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>> Here.

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» Here.

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>> Councilmember Caster.

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» Councilmember Caster.

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>> Here.

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» Here.

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>> Councilmember Cain.

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» Councilmember Cain.

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>> Here.

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» Here.

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>> Councilmember Larson.

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» Councilmember Larson.

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>> be here momentarily.

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» be here momentarily.

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>> And Council member Sunkle is absent.

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» And Council member Sunkle is absent.

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Mayor Mark Elkins is present and

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presiding. And there is Council member

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Larson. Thank you.

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>> note that Council member Larson has

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» note that Council member Larson has

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joined us. So, we do have a quorum

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present and we'll move on to the

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business of the evening. I would note

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that originally and as published the

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agenda

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is limited to the special business of

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the evening,

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but I also note that Ms. Strobel is in

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the audience and with that I would ask

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the clerk if there is a recommendation

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to amend the agenda to add a section for

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public comment.

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>> Yes, if I can just get a motion to

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» Yes, if I can just get a motion to

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approve an agenda.

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>> So, staff is recommending that?

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» So, staff is recommending that?

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>> Yes, sir.

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» Yes, sir.

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>> Thank you. Is there a motion then to

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» Thank you. Is there a motion then to

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approve the agenda as amended?

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>> So moved.

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» So moved.

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>> Thank you, Ms. Harrison. A second?

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» Thank you, Ms. Harrison. A second?

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>> Second.

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» Second.

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>> That was Ms. Gaylord, I believe. All

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» That was Ms. Gaylord, I believe. All

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those in favor, please indicate by

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saying I.

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>> I.

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» I.

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>> Those opposed, same sign. The eyes have

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» Those opposed, same sign. The eyes have

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it and the agenda as amended is

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approved. And with that, I will call

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the opportunity for public comment. I

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note that

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Ms. Strobel and her daughter Sloan are

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with us this evening. If you all would

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like to come forward, we'd appreciate

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I'll note for the record that we have

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received a invitation from the two of

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you for Wednesday. Some of us are going

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to be able to join you then, some of us

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not, but we very much appreciate the

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invitation. Ms. Strobel, the floor is

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yours. If you could introduce yourself

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even though we all know who you are,

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it'll make our record clear.

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>> Okay. Um, I'm Beth Strobel and I live at

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» Okay. Um, I'm Beth Strobel and I live at

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10223 Lee Boulevard.

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>> And I'm Sloan Strobel and I also live at

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» And I'm Sloan Strobel and I also live at

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10223 Lee Boulevard.

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>> All right. And thank you everybody

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» All right. And thank you everybody

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that's able to make it on Wednesday or

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another day. We walk to school most

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days. So, um I appreciate you amending

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the agenda, too. I know this is a

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special call, so

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um

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I wanted to get up and and just first of

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all let you know that if you come to our

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house to walk to school with us, we are

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not going to corner you about sidewalks

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on the east side of Lee Boulevard. Um

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really um I got to thinking about it and

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something that I've learned um

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throughout my career is that sometimes

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we get so focused on the solution to our

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problem that we forget what is the

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problem we're trying to solve. And what

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I want to just say to the the council is

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um I think that you know, the problem

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we're trying to solve is for people in

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in North Lakewood, really everywhere in

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Lakewood, but especially North Lakewood

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to be able to get around safely. Uh

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whether they're walking to school or out

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for a walk um or getting to and from a

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family member or friend's house. And so

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um I think there's there's opportunity

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for us to consider more than just

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sidewalks. Um and probably in the short

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term that might be more budget-friendly

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and something that's more within um the

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council and the city's um wherewithal to

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to do without having to go through quite

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as many process um oriented steps.

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And so um

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really we're we're here to say that you

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know, it hasn't become less important,

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but um open-minded to different options

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besides maybe just adding a sidewalk on

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the east side of Lee, even though I'll

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never let the dream go. Um and Sloan

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wanted to be add some things um related

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that she's been thinking about.

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>> Great. Welcome Sloan.

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» Great. Welcome Sloan.

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>> Thank you. Um my friend Renly lives

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» Thank you. Um my friend Renly lives

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further down south on Lee Boulevard and

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she I was thinking about it and I

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realized traffic is really different

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down there. And I was thinking about it

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and I realized it's because the roads

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are curved more curvy, they have stop

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signs every few blocks and the speed

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limit is 25 mph. And I thought I was

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thinking and I was like, well those

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don't take as long to

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execute as a sidewalk would and

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I think they'd be very effective and cuz

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the truth is every pedestrian should

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have

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the peace of mind that they're safe

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walking down the street walking down

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streets whether it's walking their dog,

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going up to meet friends, or just

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enjoying being outside. Every pedestrian

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deserves to have that peace of mind that

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they're safe and everything is

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on the way it should be. So

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>> So we're looking forward to the safe

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» So we're looking forward to the safe

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streets for all survey results as I'm

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sure everybody is and just working

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together with with the council

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with public works to figure out how we

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can um

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improve safety for pedestrians and in

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our part of Leawood but but other parts

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as well.

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All right and we look forward to seeing

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those that can make it on Wednesday.

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Thank you.

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>> Thank you Mrs. Strobel. Thank you Sloan.

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» Thank you Mrs. Strobel. Thank you Sloan.

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We appreciate your comments and you're

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joining us tonight.

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Don't believe there are any other

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comments

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from the or from the

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public tonight. So with that we'll move

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on to special business.

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I had the privilege and the pleasure

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this morning of attending the auction of

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our bonds. It was a very instructive

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session and

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as Jeremy will tell us it was a very

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successful exercise as we sat through

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the auction this morning. So Jeremy the

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floor is yours and if you could share

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with the governing body some of the

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exciting events that we saw during the

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course of the auction would

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[clears throat] be great. Thank you.

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>> Sure. Thank you very much. Jeremy

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» Sure. Thank you very much. Jeremy

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Wellnitz, director of finance. With me

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tonight is David Arterbury, our

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municipal advisor from Stifel. As the

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mayor mentioned we had a sale this

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morning for both the general obligation

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bonds and the notes. I believe that we

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had a successful representation on both

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issuances.

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Dave will get into those details with

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you but we had three bidders on the

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notes and we had 12 bidders on the bonds

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and

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got very competitive rates on both. So

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with that I'll turn it over to David and

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he'll be happy to answer any questions

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that you all may have.

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>> Mr. Arterbury, welcome.

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» Mr. Arterbury, welcome.

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>> Thank you. Thank you. Thank you Jeremy.

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» Thank you. Thank you. Thank you Jeremy.

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I do have a couple of handouts here for

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» Thank you.

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Yeah,

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as Jeremy mentioned today,

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the city took bids for

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the series 2026 general obligation

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temporary notes and general obligation

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bonds to finance a variety of different

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capital improvement projects around the

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city.

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Before I go into specifically the

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results, I wanted to talk a little bit

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about what we've been up to since I or

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my colleague Connor was last here.

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Basically, since we were here last, one

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of the the big things we did is we went

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out and worked with Moody's Investor

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Service to have the city's rating

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reviewed and affirmed at the triple A

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level. And so one of the handouts that I

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gave you here is Moody's. This is their

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simple write-up that they do when they

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do a rating. And you can kind of look

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through it. Some of the highlights of

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the rating were that they like your

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strong residential income. They like you

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the the tax base relative to the the

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population size.

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>> [clears throat]

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» [clears throat]

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>> The ongoing development that's occurring

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» The ongoing development that's occurring

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in the city.

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Strong fund balances and liquidity. And

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rapid debt repayment. They they view

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that as all positive things for the for

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the city.

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So

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rating call went very well.

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Diane and Jeremy did a really good job

279
00:09:05,000 --> 00:09:07,480
of presenting the city's credit to

280
00:09:07,480 --> 00:09:09,520
Moody's and also to responding to all

281
00:09:09,520 --> 00:09:12,320
the questions that they had. Besides the

282
00:09:12,320 --> 00:09:14,080
rating, we also completed some due

283
00:09:14,080 --> 00:09:16,200
diligence questions just to make sure we

284
00:09:16,200 --> 00:09:17,960
are aware of everything going on within

285
00:09:17,960 --> 00:09:20,280
the city. We also talked a little bit

286
00:09:20,280 --> 00:09:23,360
about So we also completed all of the

287
00:09:23,360 --> 00:09:25,440
the bidding documents and the disclosure

288
00:09:25,440 --> 00:09:28,120
documents that were distributed last

289
00:09:28,120 --> 00:09:30,080
week to potential bidders around the

290
00:09:30,080 --> 00:09:31,200
country.

291
00:09:31,200 --> 00:09:33,800
And then all that led up to the sale

292
00:09:33,800 --> 00:09:35,720
this morning.

293
00:09:35,720 --> 00:09:38,360
To talk real quickly on the backside of

294
00:09:38,360 --> 00:09:41,280
that rating report, you'll see a graph.

295
00:09:41,280 --> 00:09:43,720
Um, this is just a graph of interest

296
00:09:43,720 --> 00:09:47,640
rates for highly rated municipal bonds

297
00:09:47,640 --> 00:09:49,640
um, over about the last four or five

298
00:09:49,640 --> 00:09:52,000
year period. Um, I just kind of wanted

299
00:09:52,000 --> 00:09:54,640
to illustrate to you what rates have

300
00:09:54,640 --> 00:09:57,480
done really since they started rising

301
00:09:57,480 --> 00:10:00,360
back at the beginning of 2022.

302
00:10:00,360 --> 00:10:03,600
And I put on here um, a few milestones

303
00:10:03,600 --> 00:10:06,600
for some of the of the city's other

304
00:10:06,600 --> 00:10:08,680
recent bond and note issues that you've

305
00:10:08,680 --> 00:10:11,000
had. Um, so you can kind of see the

306
00:10:11,000 --> 00:10:13,240
interest rates here over the last, you

307
00:10:13,240 --> 00:10:14,800
know, four years have really kind of

308
00:10:14,800 --> 00:10:17,280
bounced around in a range.

309
00:10:17,280 --> 00:10:19,040
The last couple of weeks we actually had

310
00:10:19,040 --> 00:10:20,560
a little spike up in rates about a

311
00:10:20,560 --> 00:10:23,040
quarter of a percentage point or so. Um,

312
00:10:23,040 --> 00:10:24,880
but that seems to have stabilized a

313
00:10:24,880 --> 00:10:27,840
little bit in the last few days. So, um,

314
00:10:27,840 --> 00:10:30,080
that's sort of the market we're facing.

315
00:10:30,080 --> 00:10:32,320
And then today, as was mentioned, um,

316
00:10:32,320 --> 00:10:34,920
what bids were received. Uh, we we met

317
00:10:34,920 --> 00:10:37,200
up in the conference room and got a

318
00:10:37,200 --> 00:10:38,920
total of three bids on the temporary

319
00:10:38,920 --> 00:10:39,960
notes.

320
00:10:39,960 --> 00:10:42,400
Um, the best bid was submitted by Bank

321
00:10:42,400 --> 00:10:44,440
of America Securities

322
00:10:44,440 --> 00:10:45,960
uh, with a net interest cost of

323
00:10:45,960 --> 00:10:50,990
2.796374%.

324
00:10:51,000 --> 00:10:53,280
Um, and then a couple of bids by J.P.

325
00:10:53,280 --> 00:10:54,839
Morgan and Oppenheimer that were a

326
00:10:54,839 --> 00:10:56,520
little bit above that.

327
00:10:56,520 --> 00:10:57,360
Um,

328
00:10:57,360 --> 00:10:59,520
going into this I was anticipating or

329
00:10:59,520 --> 00:11:02,360
predicting a rate of about 2.95%.

330
00:11:02,360 --> 00:11:05,240
So, I was real glad to see this come in.

331
00:11:05,240 --> 00:11:08,880
Um, the next um, half an hour after that

332
00:11:08,880 --> 00:11:11,640
we opened up the bids on the bonds. And

333
00:11:11,640 --> 00:11:13,640
if you flip over that page, you can see

334
00:11:13,640 --> 00:11:16,080
the results of that. We were really

335
00:11:16,080 --> 00:11:19,280
happy to see a total of 12 bids come in

336
00:11:19,280 --> 00:11:21,600
on the on the bonds. Um,

337
00:11:21,600 --> 00:11:23,760
that's as far as I can tell the most, at

338
00:11:23,760 --> 00:11:25,880
least going back five years, that the

339
00:11:25,880 --> 00:11:28,240
city has received on any of its of its

340
00:11:28,240 --> 00:11:30,000
debt offerings.

341
00:11:30,000 --> 00:11:32,240
Um, all the bids you can see there are

342
00:11:32,240 --> 00:11:34,360
the rank um of them based on their

343
00:11:34,360 --> 00:11:36,440
lowest true um based on their true

344
00:11:36,440 --> 00:11:38,120
interest cost.

345
00:11:38,120 --> 00:11:40,520
The best bid um was submitted by

346
00:11:40,520 --> 00:11:42,960
Fidelity Capital Markets with

347
00:11:42,960 --> 00:11:48,790
a true interest cost of 3.621323%.

348
00:11:48,800 --> 00:11:52,320
Um I was predicting a rate probably 2.85

349
00:11:52,320 --> 00:11:55,720
to 2.9. So, again, real happy to see see

350
00:11:55,720 --> 00:11:57,880
all these bids come in.

351
00:11:57,880 --> 00:12:02,600
Um both Bank of America and Fidelity um

352
00:12:02,600 --> 00:12:04,640
their bid was fully compliant with all

353
00:12:04,640 --> 00:12:06,560
of the bidding parameters and they

354
00:12:06,560 --> 00:12:08,720
provided the required good faith

355
00:12:08,720 --> 00:12:13,000
deposit. Um that also with regards to

356
00:12:13,000 --> 00:12:16,600
the bonds uh after the bid was received,

357
00:12:16,600 --> 00:12:18,520
we we looked at how the bid was

358
00:12:18,520 --> 00:12:21,880
constructed and based on that we resized

359
00:12:21,880 --> 00:12:23,520
the bond issue.

360
00:12:23,520 --> 00:12:25,520
Uh so, the final principal amount of the

361
00:12:25,520 --> 00:12:30,000
bonds ended up being 9,595.

362
00:12:30,000 --> 00:12:32,200
Uh instead of up above there it mentions

363
00:12:32,200 --> 00:12:33,960
9,850.

364
00:12:33,960 --> 00:12:34,960
So,

365
00:12:34,960 --> 00:12:37,760
um but other than that um that that

366
00:12:37,760 --> 00:12:39,600
resizing everything went really well and

367
00:12:39,600 --> 00:12:42,520
we just as we expected and real pleased

368
00:12:42,520 --> 00:12:44,080
with the outcome. Um

369
00:12:44,080 --> 00:12:47,120
The only steps that you've got left as a

370
00:12:47,120 --> 00:12:50,120
governing body tonight in order to lock

371
00:12:50,120 --> 00:12:51,920
in the interest rates and officially

372
00:12:51,920 --> 00:12:53,839
authorize the issuance of the notes and

373
00:12:53,839 --> 00:12:55,360
the bonds is to

374
00:12:55,360 --> 00:12:58,440
uh adopt a a bond ordinance and a bond

375
00:12:58,440 --> 00:13:01,480
resolution and a note resolution. So,

376
00:13:01,480 --> 00:13:03,000
think you might have three action items

377
00:13:03,000 --> 00:13:04,400
in front of you.

378
00:13:04,400 --> 00:13:07,360
Um but I obviously we

379
00:13:07,360 --> 00:13:09,600
welcome to uh welcome any questions that

380
00:13:09,600 --> 00:13:11,480
you might have about the process or the

381
00:13:11,480 --> 00:13:12,320
outcome.

382
00:13:12,320 --> 00:13:14,750
>> Mr. Riderbury, just one clarification

383
00:13:14,750 --> 00:13:14,760
» Mr. Riderbury, just one clarification

384
00:13:14,760 --> 00:13:17,080
and I may have misunderstood you, but I

385
00:13:17,080 --> 00:13:19,280
thought I heard you say that heard you

386
00:13:19,280 --> 00:13:21,520
to say that you had anticipated that the

387
00:13:21,520 --> 00:13:25,360
bond rate would be 2.89 to 2.9. I

388
00:13:25,360 --> 00:13:27,960
believe that was the note rate. What was

389
00:13:27,960 --> 00:13:29,720
your expectation on the bond rate?

390
00:13:29,720 --> 00:13:33,110
>> The bonds I was expecting about 3.85

391
00:13:33,110 --> 00:13:33,120
» The bonds I was expecting about 3.85

392
00:13:33,120 --> 00:13:34,200
to 3.9.

393
00:13:34,200 --> 00:13:35,310
>> I think it's important for the governing

394
00:13:35,310 --> 00:13:35,320
» I think it's important for the governing

395
00:13:35,320 --> 00:13:36,920
body to recognize that they came in

396
00:13:36,920 --> 00:13:39,640
actually less expensive for us than what

397
00:13:39,640 --> 00:13:41,040
we had anticipated they would be for the

398
00:13:41,040 --> 00:13:41,720
city.

399
00:13:41,720 --> 00:13:43,120
And we want to clarify our record for

400
00:13:43,120 --> 00:13:45,240
that. So, I appreciate you doing that.

401
00:13:45,240 --> 00:13:46,560
Um

402
00:13:46,560 --> 00:13:49,280
any other questions for either our

403
00:13:49,280 --> 00:13:50,880
finance department or from Mr.

404
00:13:50,880 --> 00:13:53,280
Atterbury?

405
00:13:53,280 --> 00:13:56,040
Jeremy, did you have anything to add?

406
00:13:56,040 --> 00:13:56,950
>> Um

407
00:13:56,950 --> 00:13:56,960
» Um

408
00:13:56,960 --> 00:13:59,160
just a matter of housekeeping. So, uh

409
00:13:59,160 --> 00:14:01,480
when the agenda was published, we had

410
00:14:01,480 --> 00:14:04,120
uh preliminary items uh for all three of

411
00:14:04,120 --> 00:14:06,960
the motions uh set before you tonight.

412
00:14:06,960 --> 00:14:09,920
And as is our custom, uh anything that

413
00:14:09,920 --> 00:14:12,200
has been uh removed from that

414
00:14:12,200 --> 00:14:14,400
preliminary has been stricken out, and

415
00:14:14,400 --> 00:14:17,040
anything that is new is underlined.

416
00:14:17,040 --> 00:14:18,640
So, anyone who would have looked at

417
00:14:18,640 --> 00:14:21,240
these uh items before the sale would

418
00:14:21,240 --> 00:14:22,480
note that we didn't have a bidder, we

419
00:14:22,480 --> 00:14:23,760
didn't have a bid amount, we didn't have

420
00:14:23,760 --> 00:14:25,240
the interest costs. Those have all now

421
00:14:25,240 --> 00:14:27,240
been filled in. We'd be happy to answer

422
00:14:27,240 --> 00:14:28,760
any questions that you all may have.

423
00:14:28,760 --> 00:14:30,470
>> And we published those revisions earlier

424
00:14:30,470 --> 00:14:30,480
» And we published those revisions earlier

425
00:14:30,480 --> 00:14:31,960
this afternoon, so they are a matter of

426
00:14:31,960 --> 00:14:33,240
public record.

427
00:14:33,240 --> 00:14:36,200
Any other questions for Jeremy?

428
00:14:36,200 --> 00:14:38,080
All right. If not, we thank you both for

429
00:14:38,080 --> 00:14:39,920
all the work that you've done. Uh we'll

430
00:14:39,920 --> 00:14:42,200
come now to the individual uh items on

431
00:14:42,200 --> 00:14:44,120
the special business. As Mr. Atterbury

432
00:14:44,120 --> 00:14:47,160
noticed noted, uh the first item uh to

433
00:14:47,160 --> 00:14:48,600
be considered is an ordinance

434
00:14:48,600 --> 00:14:50,480
authorizing and providing for the

435
00:14:50,480 --> 00:14:54,640
issuance and delivery of 9,595,000

436
00:14:54,640 --> 00:14:56,920
dollars in general obligation bonds

437
00:14:56,920 --> 00:15:00,160
series 2 2026A of the City of Leawood,

438
00:15:00,160 --> 00:15:02,680
Kansas uh to provide funds to finance

439
00:15:02,680 --> 00:15:04,360
the cost of certain public improvement

440
00:15:04,360 --> 00:15:06,480
projects within the city, providing for

441
00:15:06,480 --> 00:15:08,040
the levy and collection of an annual

442
00:15:08,040 --> 00:15:10,920
tax, if necessary, for the purpose of

443
00:15:10,920 --> 00:15:13,640
paying the principal of and interest on

444
00:15:13,640 --> 00:15:16,040
said notes as they become due,

445
00:15:16,040 --> 00:15:18,360
authorizing certain other documents and

446
00:15:18,360 --> 00:15:20,200
actions in connection therewith, and

447
00:15:20,200 --> 00:15:22,080
making certain covenants with respect

448
00:15:22,080 --> 00:15:23,720
thereto.

449
00:15:23,720 --> 00:15:25,080
Is there a motion from the governing

450
00:15:25,080 --> 00:15:28,480
body to adopt such an ordinance?

451
00:15:28,480 --> 00:15:29,230
>> So moved.

452
00:15:29,230 --> 00:15:29,240
» So moved.

453
00:15:29,240 --> 00:15:30,550
>> Thank you, Ms. Larson. Is there a

454
00:15:30,550 --> 00:15:30,560
» Thank you, Ms. Larson. Is there a

455
00:15:30,560 --> 00:15:31,440
second?

456
00:15:31,440 --> 00:15:32,550
>> Second.

457
00:15:32,550 --> 00:15:32,560
» Second.

458
00:15:32,560 --> 00:15:34,670
>> Thank you, Ms. Gayed.

459
00:15:34,670 --> 00:15:34,680
» Thank you, Ms. Gayed.

460
00:15:34,680 --> 00:15:36,640
It's been moved and seconded

461
00:15:36,640 --> 00:15:38,320
that we adopt the ordinance I described

462
00:15:38,320 --> 00:15:39,880
a moment ago. Is there any discussion

463
00:15:39,880 --> 00:15:42,120
over the motion?

464
00:15:42,120 --> 00:15:44,120
If not, I'll note that this requires a

465
00:15:44,120 --> 00:15:45,960
roll call vote of the governing body and

466
00:15:45,960 --> 00:15:47,240
would ask the clerk to call the roll,

467
00:15:47,240 --> 00:15:48,400
please.

468
00:15:48,400 --> 00:15:49,670
>> Councilmember Pappas.

469
00:15:49,670 --> 00:15:49,680
» Councilmember Pappas.

470
00:15:49,680 --> 00:15:50,230
>> I.

471
00:15:50,230 --> 00:15:50,240
» I.

472
00:15:50,240 --> 00:15:51,470
>> Councilmember Larson.

473
00:15:51,470 --> 00:15:51,480
» Councilmember Larson.

474
00:15:51,480 --> 00:15:51,950
>> I.

475
00:15:51,950 --> 00:15:51,960
» I.

476
00:15:51,960 --> 00:15:53,070
>> Councilmember Gayed.

477
00:15:53,070 --> 00:15:53,080
» Councilmember Gayed.

478
00:15:53,080 --> 00:15:53,950
>> I.

479
00:15:53,950 --> 00:15:53,960
» I.

480
00:15:53,960 --> 00:15:55,190
>> Councilmember Ruben.

481
00:15:55,190 --> 00:15:55,200
» Councilmember Ruben.

482
00:15:55,200 --> 00:15:55,670
>> I.

483
00:15:55,670 --> 00:15:55,680
» I.

484
00:15:55,680 --> 00:15:57,510
>> Councilmember Harrison.

485
00:15:57,510 --> 00:15:57,520
» Councilmember Harrison.

486
00:15:57,520 --> 00:15:58,110
>> I.

487
00:15:58,110 --> 00:15:58,120
» I.

488
00:15:58,120 --> 00:15:59,430
>> Councilmember Cain.

489
00:15:59,430 --> 00:15:59,440
» Councilmember Cain.

490
00:15:59,440 --> 00:15:59,910
>> I.

491
00:15:59,910 --> 00:15:59,920
» I.

492
00:15:59,920 --> 00:16:01,150
>> Councilmember Caster.

493
00:16:01,150 --> 00:16:01,160
» Councilmember Caster.

494
00:16:01,160 --> 00:16:02,710
>> I.

495
00:16:02,710 --> 00:16:02,720
» I.

496
00:16:02,720 --> 00:16:04,630
>> Thank you. I have a vote of seven votes

497
00:16:04,630 --> 00:16:04,640
» Thank you. I have a vote of seven votes

498
00:16:04,640 --> 00:16:07,920
in favor and none against, so the vote

499
00:16:07,920 --> 00:16:09,520
passes and the ordinance is hereby

500
00:16:09,520 --> 00:16:12,120
adopted. The second item under special

501
00:16:12,120 --> 00:16:15,000
business that relates to these

502
00:16:15,000 --> 00:16:17,440
promissory notes, I believe oh, the

503
00:16:17,440 --> 00:16:20,000
first one is actually the

504
00:16:20,000 --> 00:16:22,560
bonds and that's a resolution

505
00:16:22,560 --> 00:16:24,960
prescribing the form and details of and

506
00:16:24,960 --> 00:16:26,320
authorizing directing the sale and

507
00:16:26,320 --> 00:16:29,640
delivery of $9,595,000

508
00:16:29,640 --> 00:16:32,960
in general obligation bonds series 2026A

509
00:16:32,960 --> 00:16:34,440
of the city of Leawood, Kansas

510
00:16:34,440 --> 00:16:36,680
previously authorized by ordinance

511
00:16:36,680 --> 00:16:39,960
number 3217, which we just adopted, of

512
00:16:39,960 --> 00:16:41,640
the city making certain covenants and

513
00:16:41,640 --> 00:16:43,640
agreements to provide for the payment

514
00:16:43,640 --> 00:16:45,760
and security thereof and authorizing

515
00:16:45,760 --> 00:16:47,320
certain other documents and action

516
00:16:47,320 --> 00:16:50,160
connected therewith. Do I hear a motion

517
00:16:50,160 --> 00:16:51,920
from the governing body to adopt this

518
00:16:51,920 --> 00:16:52,920
resolution?

519
00:16:52,920 --> 00:16:53,910
>> So moved.

520
00:16:53,910 --> 00:16:53,920
» So moved.

521
00:16:53,920 --> 00:16:55,310
>> That would be Mr. Pappas. Is there a

522
00:16:55,310 --> 00:16:55,320
» That would be Mr. Pappas. Is there a

523
00:16:55,320 --> 00:16:56,280
second?

524
00:16:56,280 --> 00:16:57,150
>> Second.

525
00:16:57,150 --> 00:16:57,160
» Second.

526
00:16:57,160 --> 00:16:58,470
>> Thank you, Ms. Larson. Is there any

527
00:16:58,470 --> 00:16:58,480
» Thank you, Ms. Larson. Is there any

528
00:16:58,480 --> 00:17:01,040
discussion over the proposed resolution?

529
00:17:01,040 --> 00:17:03,400
If not, all those in favor of adopting

530
00:17:03,400 --> 00:17:05,560
the resolution relating

531
00:17:05,560 --> 00:17:07,640
to the sale of the general obligation

532
00:17:07,640 --> 00:17:10,199
bond series 2026A,

533
00:17:10,199 --> 00:17:11,959
please indicate by saying I.

534
00:17:11,959 --> 00:17:12,710
>> I.

535
00:17:12,710 --> 00:17:12,720
» I.

536
00:17:12,720 --> 00:17:15,590
>> Those opposed, same sign. The eyes have

537
00:17:15,590 --> 00:17:15,600
» Those opposed, same sign. The eyes have

538
00:17:15,600 --> 00:17:17,560
it and the the um

539
00:17:17,560 --> 00:17:20,720
resolution is adopted on a 7-0 vote.

540
00:17:20,720 --> 00:17:23,800
Last item relating to today's sale is a

541
00:17:23,800 --> 00:17:25,680
resolution prescribing the form and

542
00:17:25,680 --> 00:17:28,480
details of and authorizing and directing

543
00:17:28,480 --> 00:17:30,120
the issuance, sale, and delivery of

544
00:17:30,120 --> 00:17:33,080
$30,650,000

545
00:17:33,080 --> 00:17:36,600
of general obligation temporary notes

546
00:17:36,600 --> 00:17:38,520
series 2026-1

547
00:17:38,520 --> 00:17:40,280
of the city of Leawood, Kansas,

548
00:17:40,280 --> 00:17:42,160
providing for the levy and collection of

549
00:17:42,160 --> 00:17:44,440
an annual tax, if necessary, for the

550
00:17:44,440 --> 00:17:46,280
purpose of paying the principal of and

551
00:17:46,280 --> 00:17:48,600
interest on said notes as they become

552
00:17:48,600 --> 00:17:50,200
due, making certain covenants and

553
00:17:50,200 --> 00:17:52,120
agreements to provide for the payment

554
00:17:52,120 --> 00:17:54,120
and security thereof, and authorizing

555
00:17:54,120 --> 00:17:55,800
certain other documents and actions

556
00:17:55,800 --> 00:17:57,480
connected therewith.

557
00:17:57,480 --> 00:17:58,920
Do I hear a motion from the governing

558
00:17:58,920 --> 00:18:01,800
body uh to adopt this resolution

559
00:18:01,800 --> 00:18:03,920
relating to the temporary notes?

560
00:18:03,920 --> 00:18:05,150
>> So moved.

561
00:18:05,150 --> 00:18:05,160
» So moved.

562
00:18:05,160 --> 00:18:07,390
>> That was Ms. Ruben. Is there a second?

563
00:18:07,390 --> 00:18:07,400
» That was Ms. Ruben. Is there a second?

564
00:18:07,400 --> 00:18:07,870
>> Second.

565
00:18:07,870 --> 00:18:07,880
» Second.

566
00:18:07,880 --> 00:18:09,150
>> Thank you, Ms. Gayed. Is there

567
00:18:09,150 --> 00:18:09,160
» Thank you, Ms. Gayed. Is there

568
00:18:09,160 --> 00:18:11,680
discussion over the pending motion?

569
00:18:11,680 --> 00:18:13,600
If not, all those in favor of adopting

570
00:18:13,600 --> 00:18:16,720
the resolution relating to the sale of

571
00:18:16,720 --> 00:18:18,360
the general obligation temporary notes

572
00:18:18,360 --> 00:18:20,640
series 2026-1,

573
00:18:20,640 --> 00:18:22,280
please indicate by saying aye.

574
00:18:22,280 --> 00:18:23,230
>> Aye.

575
00:18:23,230 --> 00:18:23,240
» Aye.

576
00:18:23,240 --> 00:18:25,630
>> Those opposed, same sign. The ayes have

577
00:18:25,630 --> 00:18:25,640
» Those opposed, same sign. The ayes have

578
00:18:25,640 --> 00:18:27,800
it, and the motion carries on a 7-0

579
00:18:27,800 --> 00:18:31,160
vote, and the resolution is adopted. Uh

580
00:18:31,160 --> 00:18:32,680
I think that concludes the business with

581
00:18:32,680 --> 00:18:35,160
respect to with respect to the sale of

582
00:18:35,160 --> 00:18:37,960
the bonds and um the promissory notes.

583
00:18:37,960 --> 00:18:40,880
Again, uh our thanks to um

584
00:18:40,880 --> 00:18:43,600
Mr. Atterbury as well as Mr. Wilmoth for

585
00:18:43,600 --> 00:18:45,240
all the work they and their departments

586
00:18:45,240 --> 00:18:48,200
did with respect to both maintaining uh

587
00:18:48,200 --> 00:18:50,560
our AAA rating for, I believe, the 18th

588
00:18:50,560 --> 00:18:52,520
year, if I remember correctly,

589
00:18:52,520 --> 00:18:54,960
uh and the impact that that had on the

590
00:18:54,960 --> 00:18:59,840
cost of our borrowing uh in this 2026.

591
00:18:59,840 --> 00:19:02,440
Don't believe there's any additional um

592
00:19:02,440 --> 00:19:04,400
matters on the agenda this evening. So,

593
00:19:04,400 --> 00:19:05,840
with that, I will declare the meeting

594
00:19:05,840 --> 00:19:08,960
adjourned. We will reform in the

595
00:19:08,960 --> 00:19:11,040
conference room for the special call

596
00:19:11,040 --> 00:19:13,760
work session uh that was published uh

597
00:19:13,760 --> 00:19:17,800
last week. Thank you all. Appreciate it.

598
00:19:17,800 --> 00:19:20,240
>> You can have