NOTICE
NOTICE IS GIVEN that the Board of School Directors of Lower Merion School District, Montgomery County, Pennsylvania (the "School District"), proposes to adopt, at a public meeting to be held not less than three (3) days nor more than thirty (30) days following the date of publication of this notice, two resolutions (the "Resolutions"), the captions and summaries of such proposed Resolutions being as follows:
"A RESOLUTION
OF THE BOARD OF SCHOOL DIRECTORS OF LOWER MERION SCHOOL DISTRICT INCURRING NONELECTORAL DEBT IN THE AGGREGATE PRINCIPAL AMOUNT OF TEN MILLION DOLLARS ($10,000,000), TO BE EVIDENCED BY ITS GENERAL OBLIGATION BONDS, SERIES A OF 2015, TO PROVIDE FUNDS FOR AND TOWARD: (1) PAYMENT OF COSTS OF CAPITAL PROJECTS THAT CONSIST OF PLANNING, DESIGNING, ACQUIRING, CONSTRUCTING, EQUIPPING AND FURNISHING ALTERATIONS, ADDITIONS AND RENOVATIONS OR IMPROVEMENTS TO THE WELSH VALLEY MIDDLE SCHOOL, THE ADMINISTRATION OFFICES, AND TO THE EXTENT OF AVAILABLE FUNDS TO OTHER EXISTING SCHOOL BUILDINGS AND FACILITIES OWNED AND OPERATED BY THE SCHOOL DISTRICT, AND PAYMENT OF RELATED COSTS AND EXPENSES, INCLUDING THE COSTS AND EXPENSES OF ISSUING THE BONDS; ACCEPTING A CERTAIN PROPOSAL TO PURCHASE THE BONDS, AT PRIVATE SALE UPON INVITATION; SETTING FORTH THE TERMS AND SUBSTANTIAL FORM OF THE BONDS; PLEDGING THE FULL FAITH, CREDIT AND TAXING POWER TO SECURE THE BONDS; APPOINTING A PAYING AGENT AND A SINKING FUND DEPOSITORY; SETTING FORTH CERTAIN COVENANTS AND REPRESENTATIONS RELATING TO THE FEDERAL INCOME TAX STATUS OF THE INTEREST TO BE PAID ON SUCH BONDS; AUTHORIZING APPROPRIATE OFFICERS TO TAKE CERTAIN ACTIONS AND TO EXECUTE CERTAIN DOCUMENTS; AUTHORIZING RELATED ACTIONS AND DOCUMENTS. AND REPEALING ALL RESOLUTIONS OR PARTS OF RESOLUTIONS INSOFAR AS THE SAME SHALL BE INCONSISTENT HEREWITH.". and
"A RESOLUTION
OF THE BOARD OF SCHOOL DIRECTORS OF LOWER MERION SCHOOL DISTRICT INCURRING NONELECTORAL DEBT IN THE AGGREGATE PRINCIPAL AMOUNT OF TWENTY NINE MILLION THREE HUNDRED NINETY-FIVE THOUSAND DOLLARS ($29,395,000), TO BE EVIDENCED BY ITS GENERAL OBLIGATION BONDS, SERIES B OF 2015, TO PROVIDE FUNDS FOR AND TOWARD ADVANCE REFUNDING A PORTION OF THE OUTSTANDING GENERAL OBLIGATION BONDS, SERIES OF 2007, OF THIS SCHOOL DISTRICT AND PAYING THE COSTS AND EXPENSES RELATED TO SAID REFUNDING AND THE ISSUANCE OF SUCH BONDS; ACCEPTING A CERTAIN PROPOSAL TO PURCHASE THE BONDS, AT PRIVATE SALE UPON INVITATION; SETTING FORTH THE TERMS AND SUBSTANTIAL FORM OF THE BONDS; PLEDGING THE FULL FAITH, CREDIT AND TAXING POWER TO SECURE THE BONDS; APPOINTING A PAYING AGENT AND A SINKING FUND DEPOSITORY; SETTING FORTH CERTAIN COVENANTS AND REPRESENTATIONS RELATING TO THE FEDERAL INCOME TAX STATUS OF THE INTEREST TO BE PAID ON SUCH BONDS; PROVIDING FOR THE RETIREMENT OF THE REFUNDED BONDS, UPON STATED MATURITY OR OPTIONAL REDEMPTION PRIOR TO STATED MATURITY, AS APPLICABLE AND APPROPRIATE; AUTHORIZING EXECUTION AND DELIVERY OF A BOND RETIREMENT AGREEMENT WITH RESPECT TO THE RETIREMENT OF THE REFUNDED BONDS; AUTHORIZING APPROPRIATE OFFICERS TO TAKE CERTAIN ACTIONS AND TO EXECUTE CERTAIN DOCUMENTS; AND REPEALING ALL RESOLUTIONS OR PARTS OF RESOLUTIONS INSOFAR AS THE SAME SHALL BE INCONSISTENT HEREWITH.".
The full text of such proposed Resolutions may be examined or inspected by any citizen, in the office of the Secretary of the Board of School Directors of the School District, at the School District's Administration Offices, located at 301 East Montgomery Avenue, Ardmore, Pennsylvania, on any regular business day, Monday through Friday, between the hours of 8:30 a.m. and 4:30 p.m., prevailing time.
Attention is directed to the fact that the Resolutions, in the forms available for inspection, contain certain blanks, as permitted by the Local Government Unit Debt Act, 53 Pa.C.S. Chs. 80-82, as amended (the "Act"), that relate to the purchase prices for the General Obligation Bonds, Series A of 2015 and General Obligation Bonds, Series B of 2015 (collectively, the "Bonds"), proposed to be issued by the School District, the name of the purchaser and paying agent, the principal maturity dates, amounts and rates of interest applicable to the Bonds, and the redemption provisions of the Bonds. Such blanks will be completed, by amendment of the Resolutions prior to or during final consideration, with information to be determined from the proposals to be presented for purchase of the Bonds. Additional amendments may be made with respect to the Resolutions prior to or during its final passage.
Advertisement related to the final passage of the Resolutions, in final form, including amendments, will be made in accordance with requirements of the Act. This Notice is given in accordance with requirements of and in compliance with the Act.
LOWER MERION SCHOOL DISTRICT,
Montgomery County, Pennsylvania
By: Denise LaPera, Board Secretary
Ref# 0003203625-01
↧