SCHOOL DISTRICT OF THE BOROUGH OF BRENTWOOD SUMMARY NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of the School District of the Borough of Brentwood, at a meeting to be held at 7:00 p.m. on November 16, 2015 in the Board Room of the Administrative Suite, 3601 Brownsville Road, Brentwood, PA, will consider the adoption of a debt ordinance authorizing nonelectoral debt in the presently estimated amount of $8,400,000 and summarized as follows: Article 1 defines certain terms, including the Bonds and the Project, which consists generally of payment of the costs of: (i) the current refunding of the District's General Obligation Bonds, Refunding Series A of 2010; and (ii) issuing the Bonds. Articles 2 and 3 authorize the incurrence of nonelectoral debt by the issuance of General Obligation Bonds, and establish a sinking fund. Article 4 provides the form, maturity amount, interest rate 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 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 from 8:00 a.m. to 4:00 p.m. Monday through Thursday at the Administrative Offices, School District of the Borough of Brentwood, 3601 Brownsville Road, Pittsburgh, PA 15227. Jennifer L. Pesanka Business Manager (412) 881-2227
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