PUBLIC NOTICE CRAWFORD CENTRAL SCHOOL DISTRICT SUMMARY NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of the Crawford Central School District will consider, at a meeting to be held on Monday, February 27, 2017 at 5:30 p.m., or on such date and at such time as the Board may determine, not later than thirty (30) days following the date of publication of this notice, in the Instructional Support Center of the Crawford Central School District, 11280 Mercer Pike, Meadville, PA, along with such other general business matters as may come before the Board, the adoption of a resolution authorizing non-electoral debt in the presently estimated maximum amount of $11,080,000, and summarized as follows: Article 1 defines certain terms, including the Bonds and the Project, which consists generally of (a) the refunding of all or portions of the School Districts (i) General Obligation Bonds, Series C of 2008 and (ii) General Obligation Bonds, Series of 2012 and (b) paying the costs of issuance of the Bonds. Articles 2 and 3 authorize the incurrence of non-electoral debt by the issuance of General Obligation Bonds and establish a sinking fund. Article 4 provides the form, maturity, amounts, interest rates and the terms and provisions for the payment of the Bonds. Articles 5, 6, 7 and 8 address the Sinking Fund Depository, events of default, and amendment and discharge of the security documents. Article 9 contains federal income tax covenants; Article 10 contains securities law covenants. Article 11 provides for the sale of the Bonds, establishes certain funds and sets forth certain directions for settlement, while Article 12authorizes other related and necessary actions. The full text of the resolution as proposed may be examined by any citizen between the hours of 8:00 AM and 4:00 PM on regular school business days at the office of the Board Secretary, Crawford Central School District, 11280 Mercer Pike, Meadville, PA 16335. CRAWFORD CENTRAL SCHOOL DISTRICT Lisa Pittner Board Secretary 814/724-3121 02/24/17
↧