LEGAL NOTICE
PENNSBURY SCHOOL DISTRICT
BUCKS COUNTY, PENNSYLVANIA
NOTICE IS HEREBY GIVEN that the Board of School Directors (the "School Board") of the Pennsbury School District, Bucks County, Pennsylvania (the "School District"), at a meeting duly held on May 21, 2026, enacted a resolution (the "Resolution") authorizing, among other things, the incurrence of non-electoral indebtedness by the School District in one or more series of the School District's General Obligation Bonds, in the maximum aggregate principal amount of up to $105,000,000. The approved indebtedness shall be evidenced by this issuance of one or more series of the School District's General Obligation Bonds. The caption and summary of the Resolution enacted by the School Board at such meeting is as follows:
A RESOLUTION OF THE PENNSBURY SCHOOL DISTRICT BOARD OF SCHOOL DIRECTORS, BUCKS COUNTY, PENNSYLVANIA (THE "SCHOOL DISTRICT") PURSUANT TO THE ACT OF THE GENERAL ASSEMBLY OF THE COMMONWEALTH OF PENNSYLVANIA, KNOWN AS THE LOCAL GOVERNMENT UNIT DEBT ACT, 53 Pa. C.S. Chs. 80-82 (THE "DEBT ACT"); SETTING FORTH ITS INTENTION TO AUTHORIZE AND DIRECT THE INCURRING OF NON-ELECTORAL DEBT THROUGH THE ISSUANCE OF GENERAL OBLIGATION BONDS IN ONE OR MORE SERIES (COLLECTIVELY, THE "BONDS") IN A MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF UP TO $105,000,000 FOR THE PURPOSE OF PROVIDING FUNDS TO FINANCE THE COSTS OF (1) THE DESIGN AND CONSTRUCTION OF A NEW HIGH SCHOOL FACILITY AND RELATED IMPROVEMENTS; (2) FUNDING CAPITALIZED INTEREST; AND (3) ISSUING THE BONDS (COLLECTIVELY, THE "PROJECT"); MAKING CERTAIN FINDINGS AND DETERMINATIONS IN CONNECTION WITH THE PROJECT; ACCEPTING A NEGOTIATED PROPOSAL FOR THE PURCHASE OF THE BONDS; PROVIDING THAT THE BONDS, WHEN ISSUED, SHALL CONSTITUTE A GENERAL OBLIGATION OF THE SCHOOL DISTRICT; APPOINTING A PAYING AGENT; COVENANTING TO BUDGET IN EACH FISCAL YEAR WHEN DUE; PLEDGING THE FULL FAITH, CREDIT AND TAXING POWER OF THE SCHOOL DISTRICT FOR THE TIMELY PAYMENT OF DEBT SERVICE ON THE BONDS; ESTABLISHING A SINKING FUND AND PROVIDING FOR PAYMENT OF THE BONDS THEREFROM; DIRECTING THE DEPOSIT OF THE PROCEEDS OF THE BONDS; AUTHORIZING AND DIRECTING THE PREPARATION, VERIFICATION AND FILING OF A DEBT STATEMENT, BORROWING BASE CERTIFICATE AND RELATED MATERIAL WITH THE PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT TOGETHER WITH AN APPLICATION BY THE SCHOOL DISTRICT FOR THE APPROVAL OF THE INCURRENCE OF SUCH NON-ELECTORAL DEBT AND ISSUANCE OF THE BONDS; MAKING CERTAIN COVENANTS WITH RESPECT TO THE BONDS RELATING TO FEDERAL TAX AND SECURITIES LAWS; AUTHORIZING AND DIRECTING THE EXECUTION AND DELIVERY OF THE BONDS AND SUCH OTHER DOCUMENTS AS MAY BE NECESSARY OR ADVISABLE IN CONNECTION WITH THE ISSUANCE OF THE BONDS, UPON THE APPROVAL OF PENNSYLVANIA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT; DIRECTING THE PROPER OFFICERS AND OFFICIALS OF THE SCHOOL DISTRICT TO DO ALL THINGS NECESSARY TO CARRY OUT SUCH RESOLUTION; AND RESCINDING ALL INCONSISTENT RESOLUTIONS.
NOTICE IS ALSO GIVEN that the Resolution as enacted reflects the acceptance by the Board of School Directors of the proposal (the "Proposal") submitted by PNC Capital Markets LLC (the "Purchaser") and the terms and conditions of the Purchaser's Proposal, which are incorporated into the Resolution.
Interest rates on the Bonds shall not exceed 5.50%. The purchase price for any series of the Bonds shall not be less than 95% or more than 125% of par of the Bonds. The Underwriter's discount shall not exceed $2.15 per $1,000 of Bonds.
The final form of the Resolution as enacted, together with the form of the Proposal as accepted by the School District may be examined by any member of the public in the offices of the School District located at the Pennsbury School District Administration Building, 134 Yardley Avenue, Fallsington, Pennsylvania, on any business day between the hours of 9:00 a.m. and 4:00 p.m.
This Notice is given in accordance with the requirements of Section 8003 of the Local Government Unit Debt Act, as amended, of the Commonwealth of Pennsylvania.
BY ORDER OF THE BOARD
OF SCHOOL DIRECTORS
OF THE PENNSBURY SCHOOL DISTRICT
Dr. Joanna Steere, President
May 31 2026
LSOM0529092