PLUM BOROUGH SCHOOL DISTRICT
SUMMARY NOTICE
UNDER LOCAL GOVERNMENT UNIT DEBT ACT
Notice is hereby given that the Board of School Directors of the Plum Borough School District (the "School District") will consider, at a meeting to be held on Tuesday, September 24, 2024 at 7:00 p.m. in the library of Plum Senior High School, 900 Elicker Road, Plum Borough, Pennsylvania (or on such other date, not later than 30 days from the date of publication of this notice, and at such time and place, as the Board may lawfully determine), 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 not-to-exceed amount of $12,000,000 and summarized as follows:
Article 1 defines certain terms, including the Bonds and the Project, which consists generally of (a) capital projects including, but not limited to, (i) improvements to OBlock Elementary School and Plum Middle School and (ii) various and sundry other capital improvements to School District facilities and (b) paying the costs of issuing and insuring 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, securities law covenants.
Article 11 provides for the sale of the Bonds, establishes certain funds and sets forth certain directions for settlement, while Article 12 authorizes other related and necessary actions.
The full text of the Resolution as proposed may be examined by any citizen between the hours of 7:00 a.m. to 3:00 p.m. on regular school business days at the Plum Borough School District Administrative Office, 900 Elicker Road, Plum Borough, PA 15239.
PLUM BOROUGH SCHOOL DISTRICT
(412) 795-010
348203(9/16)
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