Notice is hereby given that the Board of School Directors of North East School District will hold a public voting meeting on May 21, 2015 at 7:00 p.m. at the Elementary Center Board Room, 50 East Division Street, North East, PA and consider enactment of a resolution of which this notice is a summary, authorizing the issuance and sale of $10,000,000* aggregate principal amount of its General Obligation Bonds, Series of 2015 (the “Bonds”). If enacted, the resolution will authorize the sale of the Bonds to the purchaser, will approve the form of the Bonds, fix the rates of interest to be paid, approve the amortization schedule for the payment of interest and principal on the Bonds, pledge the full faith, credit and taxing power of the School District for the payment of the Bonds as a general obligation of the School District, create a sinking fund and authorize the Board of School Directors and the Officers of the School District to take necessary steps to issue the Bonds and to obtain the approval of the Department of Community and Economic Development.
The funds to be obtained from the sale of the Bonds will be used to finance the current refunding of the School District’s General Obligation Bonds, Series of 2005 and to pay the costs of issuance of the Bonds.
A copy of the full text of the proposed resolution may be examined by any citizen in the offices of the Secretary of the Board of School Directors of North East School District, 50 E. Division Street, North East PA, between the hours of 8:30 a.m. and 3:30 p.m. on any business day.
*Preliminary Amount Subject to Change.
Brian J. Polito, Secretary Board of School Directors 50 E. Division Street North East, PA 16428
Knox McLaughlin Garnall & Sennett, P.C. 120 West Tenth Street Erie, Pennsylvania 16501