Notice of Bond Election for USD 308

Notice of Bond Election for USD 308 (Published in The Hutchinson News on September 11, 2025, and September 18, 2025, and on the website of the county election office of any county where the Election is to be conducted not less than 21 days prior to the Election and shall remain on the website until the day after the Election) NOTICE OF BOND ELECTION UNIFIED SCHOOL DISTRICT NO. 308, RENO COUNTY, KANSAS (HUTCHINSON) The Board of Education of Unified School District No. 308, Reno County, Kansas (Hutchinson) (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 4, 2025, 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. 308, Reno County, Kansas (Hutchinson) (the "District") be authorized to issue general obligation bonds in an amount not to exceed $109,530,000 (the "Bonds") to pay the costs to: (a) construct, furnish and equip improvements at the District's elementary school facilities, including safety and security improvements, storm shelter improvements, and additional classrooms and multipurpose spaces; (b) construct, furnish and equip a new 6-8 grade middle school facility including a new practice field; (c) construct, furnish and equip renovations and improvements to repurpose the existing middle school building and create an Early Learning Center and student services facility; (d) relocate the District's baseball and soccer fields; (e) construct, furnish and equip other necessary renovations and improvements to District facilities; (f) make and acquire all other necessary improvements related thereto (collectively the "Project"); and (g) pay costs of issuance and interest on the Bonds during 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 ********************** The polls will open at 7:00 A.M. and will close at 7:00 P.M., on November 4, 2025, the election day. The voting places in the District, and the area each voting place will serve, will be as follows: Voters Residing In Precinct Will Vote At Location Pct 1-H102 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 1-H102A Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 2 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 3 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 4 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 5 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 6 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 7 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 8 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 9 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 10 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 11 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 12 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 13-H102 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 13-H104 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 14 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 15 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 16 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 17 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 18 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 19 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 20 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 21 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 22-H104 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 23-H104 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 24 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 25 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 26 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 29 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 30 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 31 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Pct 34 Bethany Church of the Nazarene 408 N Kent Rd, Hutchinson Pct 35 Kansas State Fairgrounds 2000 N Poplar, Hutchinson Clay South-H102A Twp Bethany Church of the Nazarene 408 N Kent Rd, Hutchinson Reno North Twp Mitchell United Methodist Church 5512 N Pennington Rd, Hutchinson 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 $109,530,000 Project Costs (including architectural/engineering services) $109,530,000 Interest Earnings 6,000,000 Interest During Construction 4,500,000 Issuance Expenses (including attorney fees, printing costs, rating agency fees, financial advisor fees, underwriting fees and other miscellaneous expenses) 1,500,000 Total $115,530,000 Total $115,530,000 Projected Summary of Bond Issue Repayments Principal payments over 25 years Average Interest Rate 4.75% Total Interest Cost to Maturity $91,159,112 Assessed Valuation (2024) $291,326,352 Average Annual Principal and Interest Payments $8,027,565 Portion of average annual principal and interest payments from Bond State Aid $1,364,686 Portion of average annual principal and interest payments from District funds $6,662,879 Average Annual Property Tax Mill Levy Rate for Principal and Interest Payments Total (without any Bond State Aid) 24.832 Mills District Portion (with current level of Bond State Aid) 20.148 Mills The election officer conducting the election will be the County Clerk of Reno County, Kansas, whose address is 125 W. 1st Avenue, Hutchinson, Kansas 67501. DATED: September 11, 2025. (Seal) Jenna Fager, County Clerk Reno County, Kansas September 11, 18 2025 LHUT0356976