Details for PUNXSUTAWNEY AREA SCHOOL DISTRICT ENACTMENT NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT

PUNXSUTAWNEY AREA SCHOOL DISTRICT ENACTMENT NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of Punxsutawney Area School District, at a meeting held on February 9, 2021, 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 TEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($10,500,000); 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 not amended from its proposed form upon final passage. The interest rates on the Bonds range from not-to-exceed 6.00% in 2021 to not-to-exceed 6.00% in 2030. The Bonds were purchased by PNC Capital Markets, LLC at a purchase price of not less than 95.00%, inclusive of net original issue discount, if any, together with accrued interest to the date of delivery. The full text of the Resolution as adopted may be examined by any citizen between the hours of 8:00 a.m. to 3:00 p.m. Monday through Thursday (8:00 a.m. to 2:45 p.m. Friday) at the office of the Board Secretary, Punxsutawney Area School District, 300 Center Street, Punxsutawney, PA 15767. PUNXSUTAWNEY AREA SCHOOL DISTRICT Susan Robertson Board Secretary (814) 938-5151

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