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WEST JEFFERSON HILLS SCHOOL DISTRICT ENACTMENT NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of West Jefferson Hills School District, at a meeting held on January 28, 2020, adopted a Resolution titled and summarized as follows: AUTHORIZING THE INCURRING OF NONELECTORAL DEBT BY THE ISSUANCE OF GENERAL OBLIGATION BONDS, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED THIRTEEN MILLION DOLLARS ($13,000,000); COVENANTING TO PAY, AND PLEDGING ALL AVAILABLE TAXING POWER FOR THE PAYMENT OF, THE BONDS; FIXING THE FORM, MAXIMUM INTEREST RATES, MATURITY, REDEMPTION AND OTHER PROVISIONS FOR THE PAYMENT THEREOF; AUTHORIZING THE ACCEPTANCE OF ONE OR MORE PROPOSALS 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 attach debt service schedules. The interest rates (yields) on the Bonds range from 5.50% in 2020 to 5.50% in 2042. The Bonds were awarded at a price of not less than 97.00% of the par amount of the Bonds (the discount from par being inclusive of any underwriter's discount and/or net original issue discount) together with accrued interest, if any, to the date of delivery of the Bonds, to PFM Financial Advisors LLC, together with such registered broker-dealer, syndicate or selling compact to be identified within the Invitation to Bid and Bid Form, through and with which the sale and distribution of the Bonds into the public marketplace is to be achieved. Subsequently, PFM Financial Advisors LLC conducted said invited sale and, pursuant to the results of the same, the District awarded the Bonds to Janney Montgomery Scott LLC, in a final par amount of $9,930,000, at a price of $9,921,159.90, representing par, minus an underwriter's discount of $74,475.00, plus original issue premium in the amount of $65,634.90. Final yields on the Bonds range from 1.00% in 2020 to 2.35% in 2042. The full text of the Resolution as adopted may be examined by any citizen between the hours of 8 AM to 4 PM on regular school business days at the office of the Secretary, 830 Old Clairton Road, Jefferson Hills, PA 15025. WEST JEFFERSON HILLS SCHOOL DISTRICT Tracy A. Harris Board Secretary 412-655-8450
