GREATER JOHNSTOWN SCHOOL DISTRICT SUMMARY NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of the Greater Johnstown School District will consider, at a meeting to be held on Wednesday, November 12, 2014 at 5:30 PM in the Board Room of the Administration Building, 1091 Broad Street, Johnstown, PA 15906 (or on such other date, not later than 30 days from the date of publication of this notice, and at such time and place, as the Board may lawfully determine), along with such other general business matters as may come before the Board, the adoption of a resolution authorizing non-electoral debt in the maximum principal amount of $5,000,000, and summarized as follows: Article 1 defines certain terms, including the Bonds and the Project, which consists generally of (a) qualified work at the Greater Johnstown Middle School; and (b) paying the costs of issuance of the Bonds. Articles 2 and 3 authorize the incurrence of non-electoral debt by the issuance of Federally Taxable Qualified Zone Academy General Obligation Bonds (Tax Credit Bonds) and establish a sinking fund. Article 4 provides the form, maturity, amounts, interest rates and the terms and provisions for the payment of the Bonds. Articles 5, 6, 7 and 8 address the Sinking Fund Depository, events of default, and amendment and discharge of the security documents. Article 9 contains federal income tax covenants; Article 10, securities law covenants. Article 11 provides for the sale of the Bonds, establishes certain funds and sets forth certain directions for settlement, while Article 12 authorizes other related and necessary actions. The full text of the Resolution as proposed may be examined by any citizen between the hours of 8:00 AM to 3:00 PM on regular school business days at the office of the Secretary, Greater Johnstown School District, Administration Building, 1091 Broad Street, Johnstown, PA 15906. GREATER JOHNSTOWN SCHOOL DISTRICT John Zahorchak 814-533-5670
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