WEST ALLEGHENY SCHOOL DISTRICT ENACTMENT NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of West Allegheny School District, at a meeting held on February 15, 2017, adopted a Resolution titled and summarized as follows: AUTHORIZING THE INCURRING OF NONELECTORAL DEBT BY THE ISSUANCE OF GENERAL OBLIGATION BONDS, SERIES OF 2017 IN THE AGGREGATE PRINCIPAL AMOUNT OF FIVE MILLION TWO HUNDRED SIXTY-FIVE THOUSAND DOLLARS ($5,265,000); COVENANTING TO PAY, AND PLEDGING ALL AVAILABLE TAXING POWER OF THE LOCAL GOVERNMENT UNIT FOR THE PAYMENT OF, THE BONDS; ESTABLISHING A SINKING FUND AND APPOINTING A SINKING FUND DEPOSITORY; FIXING THE FORM, INTEREST RATE, MATURITY, REDEMPTION AND OTHER PROVISIONS FOR THE PAYMENT THEREOF; AUTHORIZING THE ACCEPTANCE OF 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 upon final passage to change the par amount of the issue, to complete redemption dates and to attach debt service schedules. The interest rates, or coupons, on the Bonds range from a low of 2.000% to a high of 3.250%. The yields on the Bonds range from a low of 1.100% in 2018 to a high of 3.320% in 2030. The Bonds were purchased by PNC Capital Markets LLC at a purchase price of $5,210,531.55, being the par amount, less net original issue discount of $34,724.70, less underwriter's discount of $19,743.75, together with accrued interest, if any, to the date of delivery. The full text of the Resolution as adopted may be examined by any citizen at the office of Secretary of the Board of School Directors, West Allegheny School District, 100 Bruno Lane, Imperial, PA 15126, Pennsylvania during regular business hours. WEST ALLEGHENY SCHOOL DISTRICT, Alyssa Athanas, Secretary, 724/695-5213
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