Description:

MOUNT PLEASANT AREA SCHOOL DISTRICT

 

SUMMARY NOTICE UNDER LOCAL GOVERNMENT UNIT

DEBT ACT

 

Notice is hereby given that the Board of School Directors of the Mount Pleasant Area School District will consider at a meeting to be held on Wednesday February 4 2026 beginning at 7:30 p.m. in the Cafeteria Annex of the High School 265 State Street Mount Pleasant PA (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 maximum principal amount of $11385000 and summarized as follows:

 

Article 1 defines certain terms including the Bonds and the Project which consists of (a) completion of on-going energy savings repair and improvement projects; (b) repair and replacement of flooring and certain interior finishes; (c) capitalized interest; and (d) 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 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 7:30 AM to 4:00 PM on regular school business days at the Administrative Offices Mount Pleasant Area School District 271 State Street Mount Pleasant PA 15666-9041.

 

MOUNT PLEASANT AREA

SCHOOL DISTRICT

James R. Dzurica

Business Manager

724-547-4100

400191 (1/27/26)

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