• NOTICE NOTICE IS GIVEN that ...

NOTICE


NOTICE IS GIVEN that the Board of School Directors of Lower Merion School District, Montgomery County, Pennsylvania (the "School District"), at its meeting held on July 15, 2019, adopted a resolution (the "Resolution"), the caption and summary of which follows:

"A RESOLUTION


OF THE BOARD OF SCHOOL DIRECTORS OF LOWER MERION SCHOOL DISTRICT INCURRING NONELECTORAL DEBT TO BE EVIDENCED BY ONE OR MORE SERIES OF GENERAL OBLIGATION BONDS IN THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF THIRTY-FIVE MILLION DOLLARS ($35,000,000) TO PROVIDE FUNDS FOR AND TOWARDS PAYMENT OF A PORTION OF THE COSTS OF CAPITAL PROJECTS THAT INCLUDE PLANNING, DESIGNING, ACQUIRING, CONSTRUCTING, EQUIPPING AND FURNISHING A NEW MIDDLE SCHOOL AND NEW ATHLETIC FIELDS AND IMPROVEMENTS TO RELATED FACILITIES AND GROUNDS, PAYMENT OF INTEREST ON SUCH BONDS DURING CONSTRUCTION OF SUCH CAPITAL PROJECTS TO A DATE NOT LATER THAN THE DATE OF COMPLETION OF CONSTRUCTION OF THE CAPITAL PROJECTS AND, IF NECESSARY, FOR UP TO ONE YEAR THEREAFTER, AS APPROPRIATE, AND PAYMENT OF RELATED COSTS AND EXPENSES, INCLUDING THE COSTS OF ISSUANCE OF SUCH BONDS; ACCEPTING A PROPOSAL FOR THE PURCHASE OF SUCH BONDS; SETTING FORTH THE PARAMETERS, SUBSTANTIAL FORM OF AND CONDITIONS FOR ISSUING THE BONDS; PLEDGING THE FULL FAITH, CREDIT AND TAXING POWER OF THIS SCHOOL DISTRICT TO SECURE SUCH BONDS; APPOINTING A PAYING AGENT AND A SINKING FUND DEPOSITORY; AND AUTHORIZING RELATED DOCUMENTS AND ACTIONS."


Notice is also given that: (1) the accepted proposal for purchase of such general obligation bonds (the "Bonds") provides for a purchase price, including underwriting discount and original issue discount or premium, of not less than 95.0% nor more than 125.0% of the aggregate principal amount of the Bonds to be issued, plus accrued interest, if any; and (2) the interest rate or yield to maturity for the Bonds of each maturity specified in said proposal is a maximum of 5.50%.


The final Resolution, no amendments having been made upon adoption, can be examined or inspected by any citizen, in the School District's Administration Offices, located at 301 East Montgomery Avenue, Ardmore, Pennsylvania, on any regular business day, Monday through Friday, between the hours of 8:30 a.m. and 4:30 p.m., prevailing time. This Notice is given in accordance with the Pennsylvania Local Government Unit Debt Act.


LOWER MERION SCHOOL DISTRICT,
Montgomery County, Pennsylvania
By: Denise LaPera, Board Secretary



Ref# 0003399708-01
PostedJuly 19, 2019