NOTICE
Notice is hereby given that the Board of School Directors of the Pocono Mountain School District, Northampton County, Pennsylvania, at a meeting duly called pursuant to public notice and held on February 18, 2026 at 6:00 P.M. prevailing time, in the Board Room of the Pocono Mountain Administrative Center, Swiftwater, Pennsylvania, as previously advertised on February 11, 2026, adopted a Resolution with modifications and amendments as hereinafter set forth, the effect and purpose of which Resolution is as follows:
A RESOLUTION
OF THE BOARD OF SCHOOL DIRECTORS OF THE POCONO MOUNTAIN SCHOOL DISTRICT (“SCHOOL DISTRICT”), MONROE COUNTY, PENNSYLVANIA, AUTHORIZING AND DIRECTING THE ISSUANCE OF GENERAL OBLIGATION BONDS, SERIES A OF 2026 OR SUCH SERIES AS SHALL BE DESIGNATED IN THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF $45,000,000 (THE “2026 BONDS” OR “BONDS”), PURSUANT TO THE LOCAL GOVERNMENT UNIT DEBT ACT OF THE COMMONWEALTH OF PENNSYLVANIA, AS CODIFIED BY THE ACT OF DECEMBER 19, 1996, P.L. 1158, NO. 177; THE BONDS MAY BE ISSUED IN ONE OR MORE SERIES, PROVIDING THE PROCEEDS OF THE BONDS SHALL BE APPLIED TO FUND THE CURRENT REFUNDING OF THE SCHOOL DISTRICT’S GENERAL OBLIGATION BONDS, SERIES A OF 2015 (“2015A BONDS”), ITS GENERAL OBLIGATION BONDS, SERIES OF 2016 (“2016 BONDS”) AND ITS GENERAL OBLIGATION NOTE, SERIES OF 2022 (“2016A BONDS”); DETERMINING THAT THE SALE OF THE BONDS SHALL BE A PRIVATE SALE BY NEGOTIATION UNDER THE ACT, AND DETERMINING THAT THE BONDS SHALL BE NONELECTORAL DEBT OF THE SCHOOL DISTRICT; FIXING THE INTEREST PAYMENT DATES, DENOMINATIONS AND PRIVILEGES OF THE BONDS; SETTING FORTH THE MATURITY DATES, PRINCIPAL MATURITIES AND CURRENT INTEREST RATES OF THE BONDS AND ESTABLISHING THE REQUIRED SCHEDULE OF PAYMENTS TO THE SINKING FUND, AS HEREINAFTER ESTABLISHED, IN ORDER TO AMORTIZE THE BONDS; ESTABLISHING THE REDEMPTION PROVISIONS OF THE BONDS; ACCEPTING A BID FOR PURCHASE OF THE BONDS AND AUTHORIZING EXECUTION OF A BOND PURCHASE AGREEMENT; DESIGNATING A PAYING AGENT AND REGISTRAR; MAKING CERTAIN COVENANTS WITH RESPECT TO THE TAX FREE STATUS THEREOF; ESTABLISHING THE SUBSTANTIAL FORM OF THE BONDS, AUTHORIZING EXECUTION AND AUTHENTICATION OF THE BONDS; COVENANTING TO PAY THE PRINCIPAL OF AND INTEREST ON THE BONDS AND PLEDGING THE FULL FAITH, CREDIT AND AVAILABLE TAXING POWER OF THE SCHOOL DISTRICT TO SUCH PURPOSE; ESTABLISHING A SINKING FUND FOR THE BONDS AND AUTHORIZING AND DIRECTING PAYMENT THEREFROM; SETTING FORTH CERTAIN PROVISIONS WITH RESPECT TO THE INVESTMENT OF MONIES THEREIN; DESIGNATING A SINKING FUND DEPOSITORY; SETTING FORTH CERTAIN RIGHTS OF THE PAYING AGENT AND BONDHOLDERS IN THE EVENT OF DEFAULT AND OTHER RIGHTS OF THE PARTIES WITH RESPECT TO THE BONDS; PROVIDING FOR THE CIRCUMSTANCES UNDER WHICH THE RESOLUTION MAY BE AMENDED OR MODIFIED; PROVIDING FOR THE TERMS, CONDITIONS AND COVENANTS WITH RESPECT TO THE BOND INSURER, IF ANY, FOR THE BONDS; AUTHORIZING AND DIRECTING SPECIFIED OFFICERS OF THE SCHOOL DISTRICT TO DO AND PERFORM CERTAIN SPECIFIED AND REQUIRED OR APPROPRIATE ACTS; DECLARING THAT THE DEBT TO BE INCURRED IS WITHIN THE LIMITATION IMPOSED BY THE ACT UPON INCURRING OF SUCH DEBT BY THE SCHOOL DISTRICT; AUTHORIZING AND DIRECTING PROPER OFFICERS OF THE SCHOOL DISTRICT TO DELIVER THE BONDS UPON EXECUTION AND AUTHENTICATION THEREOF, UPON RECEIPT OF PROPER PAYMENT OF THE BALANCE DUE THEREFOR, AND ONLY AFTER SPECIFIED APPROVAL, AS REQUIRED, OF THE DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT OF THE COMMONWEALTH OF PENNSYLVANIA; SETTING FORTH CERTAIN COVENANTS RELATING TO THE FEDERAL TAX STATUS OF THE BONDS COVENANTING TO PAY OVER AT SETTLEMENT SUFFICIENT MONIES TO PROVIDE FOR THE PAYMENT OF THE 2015A BONDS, 2016 BONDS AND 2016A BONDS (COLLECTIVELY “PRIOR INDEBTEDNESS”) TO BE REFUNDED IN ACCORDANCE WITH THE REFUNDING PROGRAM AND AUTHORIZING AND DIRECTING CERTAIN OTHER ACTIONS AND APPROVING DOCUMENTATION WITH REGARD TO THE REFUNDING PROGRAM, AND ESTABLISHING SINKING FUNDS FOR THE PRIOR INDEBTEDNESS DEBT BEING REFUNDED; PROVIDING FOR THE ISSUANCE OF IRREVOCABLE INSTRUCTIONS TO THE PAYING AGENTS FOR THE PRIOR INDEBTEDNESS ON THE REDEMPTION DATES AND ESTABLISHING THE FORM OF SUCH IRREVOCABLE INSTRUCTIONS AND THE NOTICE OF REDEMPTION; PROVIDING FOR COMPLIANCE WITH SECURITIES AND EXCHANGE COMMISSION RULE 15c2-12; PROVIDING FOR SEVERABILITY OF PROVISIONS OF THE RESOLUTION; PROVIDING FOR REPEAL OF ALL RESOLUTIONS OR PARTS OF RESOLUTIONS SO FAR AS THE SAME SHALL BE INCONSISTENT; PROVIDING WHEN THIS RESOLUTION SHALL BECOME EFFECTIVE.
1. A copy of the full text of the Bond Resolution may be examined or inspected by any citizen in the Office of the Chief Financial Officer of the School District, such office being located at the Pocono Mountain Administrative Center, Swiftwater, Pennsylvania, on any regular business day between the hours of 9:00 A.M. and 3:30 P.M., prevailing time At final passage, the Resolution, as initially advertised, was modified and amended in the following particulars:
(a) The maximum aggregate principal amount of the Bonds was established at $45,000,000, and the maximum net payment schedule and redemption provisions for the Bonds were inserted.
(b) The maximum Debt Service Schedule for the Bonds was adopted with the maximum interest rates at 5.00% for each maturity.
2. The identity of the Paying Agent, Manufacturers and Traders Trust Company, was inserted.
3. The purchase price for the Bonds, including the underwriter’s discount and net original issue discount or premium, was authorized to be not less than 95% or more than 125% of the aggregate principal amount of the Bonds issued and delivered plus accrued interest, if any, on the Bonds from the dated date of the Bonds to the date of settlement. The 2026 Bonds were purchased by means of a contract with Stifel, Nicolaus & Company, Incorporated.
This Notice is given in accordance with requirements of and in compliance with Section 8003 of the Local Government Unit Debt Act of the Commonwealth of Pennsylvania, as codified by the Act of December 19, 1996, P.L. 1158, No. 177.
Joe Colozza
Chief Financial Officer
Pocono Mountain School District
KING, SPRY, HERMAN FREUND & FAUL, LLC
Solicitor
February 24, 2026