Pursuant to the Open Meeting Law (Act 84 of 1986), notice is hereby given that the Board of Education of the Muhlenberg School District will meet at 7:00 p.m., prevailing time, for the Committee of the Whole Meeting and at 7:00 p.m., prevailing time, for the Regular Meeting in the First Floor Lecture Hall of Muhlenberg High School, Sharp Avenue & Frances Street, Laureldale, Pennsylvania, on the following dates.
The first meeting of each respective month will be designated as the Committee-of-the-Whole Meeting and the second meeting of each respective month is designated as the Regularly Scheduled Board Meeting except for June and August, when the meetings will be held on the same night beginning at 6:30 p.m.
The primary purpose of the Committee of the Whole meeting is to review and discuss business which may be acted upon at the next or future regular meeting. The Board reserves the right, and hereby gives notice, however, that it may take formal action at the Committee of the Whole meetings on such matters as it deems necessary from time to time.
Muhlenberg School District school board meeting agendas are now located at http://go.boarddocs.com/pa/muhl/Board.nsf/public
NOTICE OF MEETING
TO THE TAXPAYERS AND RESIDENTS
OF MUHLENBERG SCHOOL DISTRICT,
BERKS COUNTY, PENNSYLVANIA
NOTICE IS HEREBY GIVEN that the Board of School Directors of Muhlenberg School District, Berks County, Pennsylvania (the “School District”), proposes to adopt, at a meeting of the Board of School Directors that is to be held not more than thirty (30) days nor less than three (3) days from the date of advertisement of this Notice, a Resolution authorizing, among other things, the incurrence of nonelectoral indebtedness of the School District. The caption and summary of the Resolution to be considered by the Board at such meeting is as follows:
A RESOLUTION OF THE BOARD OF SCHOOL DIRECTORS OF THE MUHLENBERG SCHOOL DISTRICT, BERKS COUNTY, PENNSYLVANIA, SETTING FORTH ITS INTENT TO ISSUE ONE OR MORE SERIES OF GENERAL OBLIGATION BONDS OF THE SCHOOL DISTRICT IN THE AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED One Hundred Million Dollars ($100,000,000) PURSUANT TO THE ACT OF THE GENERAL ASSEMBLY OF THE COMMONWEALTH OF PENNSYLVANIA, 53 Pa.C.S. Chapters 80-82, as amended, reenacted and supplemented, KNOWN AS THE LOCAL GOVERNMENT UNIT DEBT ACT (THE “ACT”); FINDING THAT A PRIVATE SALE BY NEGOTIATION IS IN THE BEST FINANCIAL INTERESTS OF THE SCHOOL DISTRICT; DETERMINING THAT SUCH BONDS SHALL EVIDENCE NONELECTORAL DEBT OF THE SCHOOL DISTRICT; SPECIFYING THAT SUCH INDEBTEDNESS IS TO BE INCURRED TO PROVIDE FUNDS FOR CERTAIN PROJECTS OF THE SCHOOL DISTRICT WHICH INCLUDES THE FOLLOWING: (1) THE DESIGN, ACQUISITION, construction and installation of new classroom buildings and a new administration building and various capital improvements to the School District’s facilities, buildings and systems, including, but not limited to, various upgrades to the School District’s classroom buildings, athletic buildings and facilities, parking facilities, security systems and HVAC systems; AND (2) PAYING the costs and expenses of issuance of the BONDS; SETTING FORTH THE REASONABLE ESTIMATED USEFUL LIVES OF THE CAPITAL PROJECTS THAT ARE TO BE FINANCED BY THE BONDS; ACCEPTING A PROPOSAL FOR THE PURCHASE OF SUCH BONDS AT PRIVATE SALE BY NEGOTIATION; PROVIDING THAT SUCH BONDS, WHEN ISSUED, SHALL CONSTITUTE A GENERAL OBLIGATION OF THE SCHOOL DISTRICT; FIXING THE DENOMINATIONS, DATED DATE, INTEREST PAYMENT DATES, MATURITY DATES, INTEREST RATES, REDEMPTION PROVISIONS, MANDATORY REDEMPTION PROVISIONS (IF APPLICABLE) AND PLACE OF PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SUCH BONDS; AUTHORIZING SPECIFIED OFFICERS OF THE SCHOOL DISTRICT TO CONTRACT WITH THE PAYING AGENT FOR ITS SERVICES IN CONNECTION WITH THE BONDS; SETTING FORTH THE SUBSTANTIAL FORM OF THE BONDS EVIDENCING THE DEBT; AUTHORIZING EXECUTION AND ATTESTATION OF SUCH BONDS; PROVIDING COVENANTS RELATED TO DEBT SERVICE APPLICABLE TO SUCH BONDS TO THE EXTENT REQUIRED BY THE ACT AND PLEDGING THE FULL FAITH, CREDIT AND TAXING POWER OF THE SCHOOL DISTRICT IN SUPPORT THEREOF; CREATING A SINKING FUND IN CONNECTION WITH SUCH BONDS, TO THE EXTENT REQUIRED BY THE ACT; DESIGNATING THE PAYING AGENT TO BE THE SINKING FUND DEPOSITARY; PROVIDING A COVENANT TO INSURE PROMPT AND FULL PAYMENT FOR SUCH BONDS WHEN DUE; SETTING FORTH REGISTRATION AND TRANSFER PROVISIONS WITH RESPECT TO SUCH BONDS; AUTHORIZING THE EXECUTION OF ONE OR MORE INVESTMENT AGREEMENTS BY SPECIFIED OFFICERS OF THE SCHOOL DISTRICT (IF APPLICABLE) AND THE PURCHASE OF CERTAIN U.S. TREASURY OBLIGATIONS OR ANY OTHER SECURITIES OR INVESTMENTS IN CONNECTION WITH THE PROJECT; AUTHORIZING AND DIRECTING SPECIFIED OFFICERS OF THE SCHOOL DISTRICT TO DO, TO TAKE AND TO PERFORM CERTAIN SPECIFIED, REQUIRED, NECESSARY OR APPROPRIATE ACTS TO EFFECT THE ISSUANCE OF THE BONDS, INCLUDING, WITHOUT LIMITATION, THE PREPARATION OF A DEBT STATEMENT AND BORROWING BASE CERTIFICATE, AND THE FILING OF SPECIFIED DOCUMENTS WITH THE DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT, ALL AS REQUIRED BY THE ACT; DECLARING THAT THE DEBT TO BE EVIDENCED BY SUCH BONDS, TOGETHER WITH ALL OTHER INDEBTEDNESS OF THE SCHOOL DISTRICT, WILL NOT BE IN EXCESS OF ANY APPLICABLE LIMITATION IMPOSED BY THE ACT; AUTHORIZING PROPER OFFICERS OF THE SCHOOL DISTRICT TO DELIVER THE BONDS UPON THE APPROVAL OF THE DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT; SETTING FORTH CERTAIN COVENANTS PRECLUDING THE SCHOOL DISTRICT FROM TAKING ACTIONS WHICH WOULD CAUSE THE BONDS TO BECOME “ARBITRAGE BONDS” OR “PRIVATE ACTIVITY BONDS,” AS THOSE TERMS ARE USED IN THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), AND APPLICABLE REGULATIONS PROMULGATED THEREUNDER; AUTHORIZING THE PURCHASE OF BOND INSURANCE (IF APPLICABLE); AUTHORIZING THE EXECUTION OF A CONTINUING DISCLOSURE CERTIFICATE AND COVENANTING TO COMPLY WITH THE PROVISIONS THEREOF; PROVIDING WHEN THIS RESOLUTION SHALL BECOME EFFECTIVE; PROVIDING FOR SEVERABILITY OF PROVISIONS; AND REPEALING ALL RESOLUTIONS OR PARTS OF RESOLUTIONS INSOFAR AS THE SAME SHALL BE INCONSISTENT HEREWITH.
A copy of the full proposed text of the Resolution described above, which includes a copy of the substantial form of Bonds, may be examined by any citizen at the office of the Secretary of the School District, located in the Administration office of the School District, 801 Bellevue Avenue, Reading, Pennsylvania, on any business day, between the hours of 8:00 a.m. and 4:00 p.m., prevailing time.
The Resolution currently on file will be completed by insertion of certain information and will be amended prior to adoption by the Board to reflect the details of the proposal for the purchase of such indebtedness presented to the Board at such meeting by the purchaser of the Bonds (the “Purchaser”). Such Resolution may be amended in any other respect as the Board may deem appropriate or as may be required by the Purchase Proposal presented at such meeting.
THE RESOLUTION CURRENTLY ON FILE, AMONG OTHER THINGS, ESTIMATES THAT THE AMOUNT OF INDEBTEDNESS TO BE AUTHORIZED BY THE SCHOOL DISTRICT WILL NOT EXCEED $100,000,000, BUT SUCH AMOUNT MAY BE INCREASED OR DECREASED PRIOR TO FINAL ADOPTION.
If the Resolution is adopted, a notice of adoption, including a summary of the omitted details (including the amount of indebtedness to be incurred, a statement of the interest rate or range of interest rates and a summary of any other amendments made prior to final adoption) will be advertised after adoption and posted in accordance with the provisions of the Local Government Unit Debt Act.
This Notice is published in compliance with the provisions of the Local Government Unit Debt Act of the Commonwealth of Pennsylvania.
BOARD OF SCHOOL DIRECTORS OF
MUHLENBERG SCHOOL DISTRICT,
BERKS COUNTY, PENNSYLVANIA