KEYSTONE OAKS SCHOOL DISTRICT ENACTMENT NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of the Keystone Oaks School District, at a meeting held on March 27, 2014, enacted 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 NOT TO EXCEED EIGHT MILLION ONE HUNDRED FORTY THOUSAND DOLLARS ($8,140,000); 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 A PROPOSAL FOR THE PURCHASE OF THE BONDS; 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 reduce the par amount, to attach debt service schedules and to specify the minimum required amount of debt service savings. The interest rates/yields on the Bonds range from 6.00% in 2014 to 6.00% in 2017. The Bonds are to be purchased at not less than 95.00% of the principal amount, inclusive of any original issue discount, for a purchase price of not less than $7,733,000.00 (in the case of Bonds issued in the maximum amount), by Piper Jaffray & Co. The full text of the Resolution as adopted may be examined by any citizen from 9 a.m. to 3:00 p.m. on regular school business days at the office of the Secretary, Keystone Oaks School District, 1000 Kelton Avenue, Pittsburgh, PA 15216. KEYSTONE OAKS SCHOOL DISTRICT Eric Brandenburg Secretary 412-571-6000
↧