OFFICIAL MUNICIPALITY OF BETHEL PARK PUBLIC NOTICE The Bethel Park Municipal Council will consider the following ordinance at their Committee Meeting to be held on Wednesday, December 2, 2015 at 7:46 PM in the Bethel Park Community Center Class Room, 5151 Park Avenue, Bethel Park, PA. Council will consider the following: LEGAL NOTICE Municipality of Bethel Park County Of Allegheny Commonwealth Of Pennsylvania NOTICE OF ADOPTION OF AN ORDINANCE AUTHORIZING THE INCURRENCE OF NON-ELECTORAL DEBT PUBLIC NOTICE is hereby given that the Municipal Council of the Municipality of Bethel Park, Allegheny County, Pennsylvania (the "Municipality") will, at a Special Meeting of Council to be held on December 2, 2015 at 7:30 p.m., prevailing time, at the Municipal Building, 5100 West Library Avenue, Bethel Park, PA 15102, consider the adoption of an ordinance (the "Ordinance") authorizing the incurrence of non-electoral debt of the Municipality pursuant to the Local Government Unit Debt Act and whatever other business may properly come before the Council. The debt proposed for incurrence will not exceed $10,000,000.00. The funds to be obtained from the borrowing will be used (i) for the acquisition, development, construction and equipping of a publics works building, (ii) for capital improvements at the Bethel Park Community Center, and (iii) the payment of certain costs of issuing the bonds (the "Project"). Proceeds of the Bonds (described below) may be used to reimburse the Municipality for expenditures of the Municipality for the Project pursuant to its intent resolution of August 10, 2015. The Ordinance contains, among other things, authorization for the Municipality to incur non-electoral debt in an amount not in excess of $10,000,000.00 through the issuance of its General Obligation Bonds, Series of 2015 (the "Bonds"); the authorization of the sale of the Bonds through a negotiated private sale; establishment of a sinking fund; the form, maturity amount, interest rate and the terms and provisions for the payment of the Bonds; the terms and provisions for the transfer of the Bonds, an agreement to pay the principal of and interest on the Bonds; a direction to the proper officers of the Municipality to take certain actions, including but not limited to making any filings with the Pennsylvania Department of Community and Economic Development which may be necessary; a pledge of the full faith, credit and available taxing power of the Municipality for the payment of amounts due on the Bonds; the appointment of a paying agent, registrar and sinking fund depository; and the designation of the duties of such parties; the list of the events of default and remedies applicable to the Bonds; the terms applicable to any amendment of the Ordinance and the Bonds; a description of the conditions necessary to discharge the Ordinance and security documents; the federal income tax covenants and securities law covenants of the Municipality concerning the Bonds; an authorization for the sale of the Bonds, the establishment of certain funds and directions for settlement of the sale of the Bonds and provisions for other related and necessary actions; a repeal of inconsistent ordinances; and other related matters. The Municipality shall also transact such other business of the Municipality, whether relating to the issuance of the Bonds or otherwise, as is properly presented to the Council for disposition at such meeting. A copy of the full text of the proposed Ordinance may be examined by any citizen at the Municipal Manager's office at the Municipal Building, 5100 West Library Avenue, Bethel Park, PA 15102, on any business day between the hours of 8:00 A.M. and 4:30 P.M., prevailing time. MUNICIPALITY OF BETHEL PARK William J. Spagnol Municipal Manager
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