• PINE-RICHLAND SCHOOL DISTRICT ...

PINE-RICHLAND
SCHOOL DISTRICT
ENACTMENT NOTICE
UNDER LOCAL GOVERNMENT UNIT
DEBT ACT
Notice is hereby given that the Board of School Directors of Pine-Richland School District, at a meeting held on October 7, 2019, adopted a Resolution titled and summarized as follows:
AUTHORIZING THE INCURRING OF NONELECTORAL DEBT BY THE ISSUANCE OF GENERAL OBLIGATION BONDS IN AN AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED THIRTEEN MILLION EIGHT HUNDRED EIGHTY-FIVE THOUSAND DOLLARS ($13,885,000); COVENANTING TO PAY, AND PLEDGING ALL AVAILABLE TAXING POWER OF THE LOCAL GOVERNMENT UNIT FOR THE PAYMENT OF, THE BONDS; ESTABLISHING A SINKING FUND AND APPOINTING A SINKING FUND DEPOSITORY; FIXING THE FORM, MAXIMUM INTEREST RATES, MATURITY DATES AND OTHER PROVISIONS FOR THE PAYMENT THEREOF; AUTHORIZING THE ACCEPTANCE OF PROPOSALS FOR THE PURCHASE OF THE BONDS; AUTHORIZING A FILING OF REQUIRED DOCUMENTS WITH THE DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT; AUTHORIZING BOND INSURANCE; RATIFYING AND DIRECTING CERTAIN ACTIONS OF OFFICERS; AND MAKING CERTAIN OTHER COVENANTS AND PROVISIONS IN RESPECT OF THE BONDS.
The maximum interest rate, or coupon, on the Bonds is 6%, and the maximum yield on the Bonds is 6%.
The price bid for the Bonds by PNC Capital Markets LLC is not less than 95.00%, inclusive of net original issue discount, if any, together with accrued interest to the date of delivery.
The full text of the Resolution as adopted may be examined by any citizen between the hours of 9:00 AM to 4:00 PM on regular school business days at the office of the Secretary, at the District Administration Office, 702 Warrendale Road, Gibsonia, PA 15044.
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PostedOctober 10, 2019