SOUTH FAYETTE TOWNSHIP SCHOOL DISTRICT ENACTMENT NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of South Fayette Township School District, at a meeting held on October 22, 2019, adopted a Resolution titled and summarized as follows: AUTHORIZING THE INCURRING OF NONELECTORAL DEBT BY THE ISSUANCE OF GENERAL OBLIGATION BONDS, SERIES 2020 IN AN AGGREGATE PRINCIPAL AMOUNT NOT-TO-EXCEED SEVEN MILLION FIVE HUNDRED THOUSAND DOLLARS ($7,500,000.00); 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; 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 attach the maximum debt service schedule. The maximum interest rate on the Bonds, once issued, is 5.50%. Pending an assignment of the Purchase Proposal to a registered broker-dealer identified through a competitive bidding process, the Bonds were purchased by PFM Financial Advisors, LLC at a purchase price of not less than 95%, inclusive of net original issue discount, if any, together with accrued interest to the date of delivery. The full text of the Resolution as enacted may be examined by any citizen between the hours of 8:00 a.m. to 4:00 p.m., Monday through Friday, in the Administrative Offices of South Fayette Township School District, 3680 Old Oakdale Road, McDonald, PA 15057. Cynthia Geisler Board Secretary 412-221-4542
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