NOTICE IS HEREBY GIVEN that the Board of School Directors of Montour School District (the "School District") will hold a public meeting on Thursday, October 17, 2019, at 6:30 P.M., prevailing local time, in Room #361 at the School District Administrative Offices, 225 Clever Road, McKees Rocks, Pennsylvania, for general purposes and for the purpose of considering, inter alia, a proposal from Boenning & Scattergood, Inc. (the "Underwriter") for the purchase of one or more series of the School District's Federally Taxable General Obligation Bonds (the "Bonds") in a total estimated aggregate principal amount not to exceed $17,000,000 and will take other action in connection with the incurring of non-electoral debt through the issuance of such bonds and at such meeting, or in the alternative at a meeting of the Board of School Directors of the School District held not less than three (3) nor more than thirty (30) days from the date of advertisement of this notice, the School District will consider the adoption of a resolution (the "Resolution") summarized as follows:
The Resolution authorizes the sale at private negotiated sale and the issuance of the Bonds, in an estimated aggregate principal amount not to exceed $17,000,000, awards the Bonds to the Underwriter; approves the form of the Bonds; fixes the rates of interest to be paid; pledges the full faith and credit of the School District for the payment thereof; creates a sinking fund; and authorizes the proper officers to take the necessary steps to issue the Bonds. The funds to be obtained from the Bonds will be used to (a) advance refund all or a portion of the School District's outstanding General Obligation Notes, Series of 2011; (b) fund various capital improvements at the School District; and (c) pay the costs of issuing and insuring the Bonds.
Omissions from the Resolution, as proposed, including price paid and range of interest rates, as well as any amendments thereto, will be supplied at the time of the adoption of the Resolution if the School District shall determine to proceed.
A copy of the full text of the proposed Resolution may be examined by any citizen at the Administrative Office of the School District, at 225 Clever Road, McKees Rocks, Pennsylvania, on regular business days from 8:00 a.m. to 4:00 p.m., prevailing time.
Montour School District
By: Tiffani Suriano-Doyle, Board Secretary
Cozen O'Connor,
Bond Counsel
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PostedOctober 10, 2019