STEEL VALLEY SCHOOL DISTRICT ENACTMENT NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of Steel Valley School District, at a special meeting held on August 22, 2019, adopted a Resolution titled and summarized as follows: AUTHORIZING THE INCURRING OF NONELECTORAL DEBT BY THE ISSUANCE OF GENERAL OBLIGATION BONDS, SERIES OF 2019 IN AN AGGREGATE PRINCIPAL AMOUNT NOT-TO-EXCEED TEM MILLION THREE HUNDRED FIFTY THOUSAND DOLLARS ($10,350,000.00); COVENANTING TO PAY, AND PLEDGING ALL AVAILABLE TAXING POWER OF THE LOCAL GOVERNMENT UNIT FOR THE PAYMENT OF, THE BONDS; PROVIDING FOR THE ESTABLISHMENT OF A SINKING FUND AND THE APPOINTMENT OF A SINKING FUND DEPOSITORY; FIXING THE FORM, MAXIMUM INTEREST RATES, MATURITY, REDEMPTION 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; AUTHORIZING THE ACQUISITION OF BOND INSURANCE; RATIFYING AND DIRECTING CERTAIN ACTIONS OF OFFICERS; AND MAKING CERTAIN OTHER COVENANTS AND PROVISIONS IN RESPECT OF THE BONDS. The Resolution was amended from its proposed form during final passage to amend the definition of Project to identify the capital improvements being financed as follows, HVAC, plumbing, lighting and fire protection replacement and improvement at the High School, Middle School and other Local Government Unit educational facilities. The maximum interest rate on the Bonds, once issued, is 6.00%. The Bonds will be purchased by PNC Capital Markets LLC at a purchase price of not less than 95.00%, inclusive of net original issue discount/premium, 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 9:00 a.m. and 4:00 p.m. on regular school business days at the Administrative Offices of Steel Valley School District, 220 East Oliver Road, Homestead, PA 15120. Mr. John Zenone Board Secretary (412) 464-3600
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