OFFICIAL MUNICIPALITY OF BETHEL PARK PUBLIC NOTICE NOTICE OF ADOPTION OF AN ORDINANCE AUTHORIZING THE INCURRENCE OF NON-ELECTORAL DEBT NOTICE is hereby given that on January 25, 2016, the Municipal Council of the Municipality of Bethel Park, Allegheny County, Pennsylvania (the "Municipality") enacted an ordinance (the "Ordinance") authorizing the incurring of non-electoral debt by the issuance of its $2,978,364.64 General Obligation Note ("the Note") and the private sale thereof; covenanting to pay, and pledging the taxing power of the Municipality for the payment of the Note; establishing a sinking fund and appointing a sinking fund depository; fixing the form, interest rate and other provisions for the payment of the Note; 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 Note. In the process of the enactment of the Ordinance, the Ordinance was amended from its proposed form upon passage by adding the following settlement option: at the option of the purchaser of the Note, the purchase of the Note can be settled by the tender of an existing promissory note of the Municipality by the purchaser (the "Prior Note") to the Municipality in exchange for the fully executed Note. As part of such exchange the purchaser shall mark the Prior Note "paid by substitution." Brentwood Bank has agreed to purchase the Note at par. The interest rate on the Note is 2.99%. The maturity date for the Note is May 5, 2033, and the principal and interest outstanding on the Note is payable in monthly installments. A copy of the full text of the 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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