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THE SCHOOL DISTRICT OF THE TOWNSHIP OF UPPER ST. CLAIR SUMMARY NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of The School District of the Township of Upper St. Clair, at a meeting to be held by virtual connection at 7:00 p.m. on April 27, 2020, (or on such other date not more than 30 days after the publication of this notice), will consider, together with any other business that may come before the Board, the adoption of a resolution authorizing the issuance and sale of nonelectoral debt in a presently estimated principal amount not to exceed $12,000,000 and currently summarized as follows: Article 1 defines certain terms, including the Bonds and the Project, which consists generally of (1) the current refunding, in order to reduce debt service over the life of the series, of the District's General Obligation Bonds, Series B of 2013, (2) the funding of certain capital improvements to the facilities of the District, including paving replacement, site signage and electrical improvements, and (3) the payment of the costs of issuing the Bonds for such purposes. Articles 2 and 3 authorize the incurrence of nonelectoral debt by the issuance of General Obligation Bonds, and establish a sinking fund. Article 4 provides the form, maturity amount, interest rate and the terms and provisions for the payment of the Bonds. Articles 5, 6, 7 and 8 address the Sinking Fund Depository, events of default, and amendment and discharge of the security documents. Article 9 contains federal income tax covenants; Article 10, securities law covenants. Article 11 provides for the sale of the Bonds, establishes certain funds and sets forth directions for settlement, while Article 12 authorizes other related and necessary actions. A detailed Board meeting agenda and related documents will be available on the District's website by 4 PM on Friday April 24, 2020. A recording of the virtual meeting will be posted on the District's website by noon on April 28, 2020. Visit the District's website at www.uscsd.k12.pa.us and click on the April 27 School Board Meeting under Upcoming Events to submit public comments electronically prior to 12:00 PM on April 27, 2020 or call 412-833-1600 EXT 2218 prior to 4:00 PM on April 27, 2020 to provide your comments via telephone to the Board Stenographer or receive additional information regarding public participation in the meeting. When leaving a message, please state your Full Name, Address, and Phone Number. The full text of the Resolution as presently proposed may be examined by any citizen on the District's website at https://www.uscsd.k12.pa.us/. Scott Burchill Board Secretary (412) 833-1600, Ext. 2220
