PENN HILLS SCHOOL DISTRICT NOTICE OF MEETING AND SUMMARY NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of the Penn Hills School District will consider, at a meeting to be held on Monday, September 9, 2013 at 7:30 PM in the in the Board Room of the Linton Middle School, 250 Aster Street, Pittsburgh, PA (or to be held on such date and at such time and place as the Board may determine, not later than 30 days from the publication of this notice), along with such other general business matters as may come before the Board, the adoption of a resolution authorizing non-electoral debt in the presently estimated amount not to exceed $4,000,000, and summarized as follows: Article 1 defines certain terms, including the Notes and the Project, which consists generally of (a) the current refunding a portion of the School District's General Obligation Bonds, Series A of 2009 and Series C of 2009, and (b) paying the costs of issuance of the Notes. Articles 2 and 3 authorize the incurrence of non-electoral debt by the issuance of General Obligation Notes and establish a sinking fund. Article 4 provides the form, maturity, amounts, interest rates and the terms and provisions for the payment of the Notes. 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 Notes, 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 9:00 AM to 4:00 PM on regular school business days at the office of the Secretary, Penn Hills School District, 260 Aster Street, Pittsburgh, PA 15235. PENN HILLS SCHOOL DISTRICT Richard Liberto Board Secretary 412/793-7000
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