PUBLIC NOTICE CONNEAUT SCHOOL DISTRICT ENACTMENT NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of Conneaut School District at a regular meeting held on June 17, 2014, adopted a Resolution titled and summarized as follows: AUTHORIZING THE INCURRING OF NONELECTORAL DEBT BY THE ISSUANCE OF GENERAL OBLIGATION BONDS CONSISTING OF GENERAL OBLIGATION BONDS, SERIES OF 2014 IN THE AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED SEVEN MILLION DOLLARS ($7,000,000) (THE BONDS) TO (I) CURRENTLY REFUND ALL OR A PORTION OF THE OUTSTANDING AMOUNT OF THE CONNEAUT SCHOOL DISTRICT GENERAL OBLIGATION NOTE, SERIES OF 2013, AND PAY RELATED COSTS OF ISSUANCE, ACCEPTING THE PURCHASE PROPOSAL OF THE BONDS, SETTING FORTH THE PARAMETERS OF THE BOND ISSUE INCLUDING THE CONDITIONS FOR ISSUING THE BONDS, COVENANTING TO PAY, AND PLEDGING TAXING POWER FOR THE PAYMENT OF, THE BONDS TO THE EXTENT PERMITTED BY LAW; ESTABLISHING A SINKING FUND AND APPOINTING A SINKING FUND DEPOSITORY; FIXING THE FORM, INTEREST RATE, MATURITY, REDEMPTION AND OTHER PROVISIONS FOR THE PAYMENT THEREOF; AUTHORIZING A FILING OF REQUIRED DOCUMENTS WITH THE DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT; RATIFYING AND DIRECTING CERTAIN ACTIONS OF OFFICERS; AND MAKING CERTAIN OTHER COVENANTS AND PROVISIONS IN RESPECT OF THE BONDS. The Resolution was amended from its proposed form upon final passage to change provisions regarding the not to exceed purchase price. The interest rate/yield on the Bonds will not exceed a maximum annual rate of 4.00% over the life of the issue which will range from 2014 up to and including 2019. The Bonds, when awarded will be purchased by PNC Capital Markets LLC at not less than 99.25% of the principal amount, less original issue discount, if any, plus original issue premium, if any. The full text of the Resolution as adopted 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 06/24/14
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