Category: Public Notices Public Notices Source: Butler Eagle Marketplace Listed: Fri Apr 24th
LEGAL NOTICE BUTLER AREA SCHOOL DISTRICT ENACTMENT NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT ¶ Notice is hereby given that the Board of School Directors of Butler Area School District, at a meeting held on April 20, 2026, adopted a Reso-lution titled and summarized as follows: ¶ AUTHORIZING THE INCURRING OF NONELECTORAL DEBT BY THE ISSUANCE OF GENERAL OBLIGATION NOTES, SERIES OF 2026, IN AN AGGREGATE PRINCIPAL AMOUNT NOT-TO-EXCEED FORTY FIVE MILLION FOUR HUNDRED SEVENTY FIVE THOUSAND DOLLARS ($45,475,000.00); COVENANTING TO PAY, AND PLEDGING ALL AVAILABLE TAXING POWER OF THE LOCAL GOVERNMENT UNIT FOR THE PAYMENT OF, THE NOTES; PROVIDING FOR THE ESTABLISHMENT OF A SINKING FUND AND THE APPOINTMENT OF A SINKING FUND DEPOSITORY; FIXING THE FORM, MAXIMUM INTEREST RATES, MATURITY DATES, REDEMPTION AND OTHER PROVISIONS FOR THE PAYMENT THEREOF; AUTHORIZING THE ACCEPTANCE OF A PROPOSAL FOR THE PURCHASE OF THE NOTES; AUTHORIZING A FILING OF REQUIRED DOCU-MENTS WITH THE DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT; AUTHORIZING THE ACQUISITION OF BOND INSURANCE; DIRECTING THE TERMINATION OF AN OUTSTANDING QUALIFIED INTEREST RATE MANAGEMENT AGR-EEMENT; RATIFYING AND DIRECTING CERTAIN ACTIONS OF OFFICERS; AND MAKING CERTAIN OTHER COVENANTS AND PROVISIONS IN RESPECT OF THE NOTES. ¶ The Resolution amen-ded from its proposed form upon final passage to add the funding of capitalized interest to the definition of Project. ¶ The maximum interest rate on the Notes, once issued, is 6.00%. ¶ The Notes 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 8:30 A.M. and 4:00 P.M. on regular school business days at the Administrative Offices of Butler Area School District, 110 Campus Lane, Butler, PA 16001. Catherine Melder Board Secretary (724) 287-8721