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BURRELL SCHOOL DISTRICT ENACTMENT NOTICE UNDER LOCAL GOVERNMENT UNIT


Description:

BURRELL SCHOOL DISTRICT

ENACTMENT NOTICE UNDER

LOCAL GOVERNMENT UNIT DEBT ACT

 

Notice is hereby given that the Board of School Directors of Burrell School District at a meeting held on April 21 2026 adopted a Resolution titled and summarized as follows:

 

AUTHORIZING THE INCURRING OF NONELECTORAL DEBT BY THE ISSUANCE OF GENERAL OBLIGATION BONDS IN THE AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED TWENTY-FOUR MILLION AND 00/100 DOLLARS ($24000000.00); COVENANTING TO PAY AND PLEDGING ALL AVAILABLE TAXING POWER FOR THE PAYMENT OF THE BONDS; ESTABLISHING A SINKING FUND AND APPOINTING A SINKING FUND DEPOSITORY; FIXING THE FORM MAXIMUM INTEREST RATES MATURITY DATES REDEMPTION AND OTHER PROVISIONS FOR THE PAYMENT THEREOF; COVENANTING TO ACCEPT 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 to modify the Project definition and add the parameters upon which a Designated Officer may sign the Bond Purchase Agreement. The interest rate on the Bonds will not exceed 6.00%.

 

The Bonds will be purchased at not less than 95% by PNC Capital Markets LLC Pittsburgh PA.

 

The full text of the Resolution as enacted may be examined by any citizen from 8:00 a.m. to 4:00 p.m. Monday through Thursday at the Administrative Offices of the District 1021 Puckety Church Road Lower Burrell PA 15068.

 

Jennifer S. Callahan

Business Administrator/

Board Secretary

724-334-1406

408622 (4/25/26)

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Date Added: April 25, 2026
Expiration: 2 Day(s)
   
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