QUAKER VALLEY SCHOOL DISTRICT ENACTMENT NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of Quaker Valley School District, at a meeting held on November 17, 2015, adopted 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 SEVEN MILLION NINE HUNDRED AND TWENTY-FIVE THOUSAND DOLLARS ($7,925,000); 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 revise the principal amount, to attach debt service schedules and to set a savings target. The interest rates on the Bonds range from 5.00% (yield 5.00%) in 2016 to 5.00% (yield 5.00%) in 2026. The Bonds were purchased by Janney Montgomery Scott LLC at a purchase price of not less than 95% of the par amount of the Bonds, the discount from par being inclusive of any underwriter's discount and/or net original issue discount, together with accrued interest to the date of delivery. The full text of the Resolution as adopted may be examined by any citizen from 9:00 a.m. to 4:00 p.m. Monday through Friday at the Quaker Valley School District Administrative Offices, 100 Leetsdale Industrial Drive, Leetsdale, Pennsylvania 15056. John Sheline Board Secretary (412) 749-3600
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