PUBLIC NOTICE CONNEAUT SCHOOL DISTRICT SUMMARY NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of Conneaut School District will consider, at its regular meeting to be held on Wednesday, September 11, 2013, at 7:00 p.m., prevailing local time, in the Cafeteria of the Conneaut Lake Middle School, located at 10331 U.S. Highway 6, Conneaut Lake, Pennsylvania, 16316, together with such other business as may come before the Board, the adoption of a resolution authorizing nonelectoral debt in the presently estimated amount of up to $8,000,000, and summarized as follows: If enacted, the Ordinance will award the Note to the purchaser thereof, PNC Bank National Association, approve the issuance of the Note, approve the form of the Note, fix the not to exceed rate of interest to be paid, pledge the full faith and credit of the School District for the payment thereof, create a sinking fund and authorize the proper officers to take the necessary action required for the issuance of the Note. The funds to be obtained from the borrowing will be used to pay the costs of: (1) the current refunding, in order to achieve debt service savings over the life of the series, of the $555,000 outstanding amount of the State Public School Building Authority, School Revenue Bonds (Conneaut School District Project) Series of 2003, the proceeds of which were used for the advance refunding of the outstanding principal amount of the School Districts General Obligation Note, Series of 2000, the proceeds of which were used for certain capital projects; (2) the advance refunding, in order to achieve debt service savings over the life of the series, of the $5,945,000 outstanding amount of the State Public School Building Authority, School Revenue Bonds (Conneaut School District Project) Refunding Series of 2004B, the proceeds of which were used for the advance refunding of a portion of the outstanding principal amount of the State Public School Building Authority, School Revenue Bonds (Conneaut School District Project) Series of 2003, the proceeds of which were used for certain capital projects and (3) paying all costs and expenses incurred by the School District in connection with the issuance and sale of the Note. The full text of the Resolution as proposed may be examined by any citizen between the hours of 8:00 a.m. and 4:30 p.m., prevailing local time, Monday through Friday at the Administrative Office, 219 West School Drive, Linesville, Pennsylvania 16424-8609. Kara D. Onorato, Board Secretary (814) 683-5900 09/08/13
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