NOTICE OF INTENT TO SELL $2,000,000* CLARKSVILLE COMMUNITY SCHOOL CORPORATION, CLARK COUNTY, INDIANA, GENERAL OBLIGATION BONDS, SERIES 2016 Upon not less than twenty-four (24) hours notice given by telephone, facsimile or otherwise, the Clarksville Community School Corporation, Clark County, Indiana (the School Corporation), on or prior to ninety (90) days after the second publication of this notice, will receive sealed proposals at the offices of the School Corporation's financial advisor, Therber & Brock, Attn: Mr. Mike Therber, 11550 North Meridian Street, Suite 275, Carmel, Indiana 46032, telephone: (317) 637-9572, facsimile number (317) 686-9102, and shall consider each proposal for the purchase of the general obligation bonds of the School Corporation designated as Clarksville Community School Corporation, Clark County, Indiana, General Obligation Bonds, Series 2016 (the 2016 Bonds), in the aggregate principal amount of Two Million Dollars ($2,000,000*), to be issued by the School Corporation pursuant to a Resolution adopted by the Board of School Trustees of the School Corporation on October 20, 2016. Interest on the 2016 Bonds shall be calculated on the basis of a three hundred sixty (360) day year comprised of twelve (12) thirty (30) day months and will be payable on July 15 and January 15 of each year commencing no earlier than July 15, 2017. All payments of interest on the 2016 Bonds will be paid by wire transfer, or by check mailed one business day prior to each interest payment date, to the registered owners of the 2016 Bonds as of the first (1st) day of the month of the interest payment date (each, a Record Date). Principal on the 2016 Bonds will be payable at the corporate trust office designated from time to time by The Bank of New York Mellon Trust Company, N.A., as registrar and paying agent (the Registrar and the Paying Agent), which such office is currently in Indianapolis, Indiana, for the 2016 Bonds. The 2016 Bonds will be issued in denominations of Five Thousand Dollars ($5,000) or any integral multiple thereof unless requested to be in some other denominations by the successful bidder. The 2016 Bonds will be dated and bear interest from the date of delivery as designated in the 24-hour notice of sale received by all interested bidders prior to the sale date of the 2016 Bonds. In the opinion of Barnes & Thornburg LLP, Indianapolis, Indiana (Bond Counsel), under existing laws, the interest on the 2016 Bonds is excludable from gross income for federal income tax purposes under Section 103 of the Internal Revenue Code of 1986, as amended (the Code). In the opinion of Bond Counsel under existing laws, the interest on 2016 Bonds is exempt from taxation in the State of Indiana for all purposes except the Indiana financial institutions tax. The School Corporation has designated the 2016 Bonds as qualified tax-exempt obligations under Section 265(b)(3) of the Code. The 2016 Bonds will mature on July 15 and January 15 in accordance with the maturity schedule set forth below: MATURITY SCHEDULE Maturity Date* Principal Amount* July 15, 2017 $25,000 January 15, 2018 35,000 July 15, 2018 35,000 January 15, 2019 35,000 July 15, 2019 35,000 January 15, 2020 35,000 July 15, 2020 35,000 January 15, 2021 35,000 July 15, 2021 160,000 January 15, 2022 160,000 July 15, 2022 165,000 January 15, 2023 170,000 July 15, 2023 170,000 January 15, 2024 175,000 July 15, 2024 180,000 January 15, 2025 180,000 July 15, 2025 185,000 January 15, 2026 185,000 *estimated and subject to change The School Corporation reserves the right to adjust principal amounts within maturities of the 2016 Bonds to achieve approximate level annual debt service levies of the School Corporation based upon the rates bid by the successful bidder, the School Corporation's current debt service levy and the School Corporation's anticipated debt service levy during the term of the 2016 Bonds and to reduce the principal amount of the 2016 Bonds in order to ensure that the total proceeds received by the School Corporation does not exceed $2,000,000. If the principal amount of the 2016 Bonds is reduced for the reasons set forth in the immediately preceding sentence, the School Corporation reserves the right to adjust principal amounts within maturities of the 2016 Bonds. Unless otherwise noted in the twenty-four (24) hour notice of sale received by all interested bidders prior to the sale date of the 2016 Bonds, the 2016 Bonds shall not be subject to optional redemption prior to maturity. Upon the election of the successful bidder, the 2016 Bonds may be issued as term bonds subject to mandatory sinking fund redemption on July 15 and January 15 of each year at 100% of the face value in accordance with the schedule set forth above. If the 2016 Bonds are subject to mandatory sinking fund redemption, the Registrar and Paying Agent shall credit against the mandatory sinking fund requirement for any term bonds and corresponding mandatory redemption obligation, in the order determined by the School Corporation, any term bonds maturing on the same date which have been redeemed previously (other than as a result of a previous mandatory redemption requirement) or delivered to the Registrar or Paying Agent for cancellation or purchased for cancellation by the Registrar or Paying Agent and not applied theretofore as a credit against any redemption obligation. Each term bond so delivered or canceled shall be credited by the Registrar and Paying Agent at 100% of the principal amount thereof against the mandatory sinking fund obligation on such mandatory obligations and the principal amount of that term bond to be redeemed by operation of the mandatory sinking fund requirement shall be reduced accordingly; provided, however, the Registrar and Paying Agent shall credit only such term bonds to the extent received on or before forty-five (45) days preceding the applicable mandatory redemption date. Notice of any mandatory sinking fund redemption will be mailed by first class mail by the Registrar and Paying Agent not less than thirty (30) days prior to the date selected for redemption to the registered owners of all term bonds to be redeemed at the address shown on the registration books of the Registrar and Paying Agent; provided, however, that failure to give such notice by mailing or a defect in the notice of the mailing as to the term bonds will not affect the validity of any proceedings for redemption as to any other term bonds for which adequate notice is given. Notice having been mailed, the term bonds designated for redemption, on the date specified in such notice, will become due and payable at the then applicable redemption price. On presentation and surrender of such 2016 Bonds in accordance with such notice at the place at which the same are expressed in such notice to be redeemable, such 2016 Bonds will be redeemed by the Registrar and Paying Agent for that purpose. From and after the date of redemption so designated, unless default is made in the redemption of such 2016 Bonds upon presentation, interest on such 2016 Bonds designated for redemption will cease. Any person interested in submitting a bid for the 2016 Bonds must furnish in writing to the School Corporation's financial advisor, Therber & Brock, Attn: Mr. Mike Therber, 11550 North Meridian Street, Suite 275, Carmel, Indiana 46032, telephone: (317) 637-9572, facsimile number (317) 686-9102, on or before 11:30 a.m. E.S.T., November 9, 2016, the person's name, address, and telephone number. The person also may furnish a telex or facsimile number. The School Corporation will cause each person so registered to be notified of the date and time bids will be received for the 2016 Bonds, not less than twenty-four (24) hours before the date and time of sale. The notification shall be made by telephone at the number furnished by such person and also by telex or facsimile if a telex or facsimile number has been furnished. Each bid must be for all of the 2016 Bonds and must state the rate or rates of interest being bid, not exceeding six percent (6.00%) per annum. Such interest rate or rates must be in multiples of one hundredth (1/100) of one percent (1.00%). All 2016 Bonds maturing on the same date shall be of the same rate of interest. The 2016 Bonds, at the successful bidder's discretion, may be bid as term bonds. No bid for less than ninety-nine and one-half percent (99.50%) of the face value of the 2016 Bonds will be considered. No conditional bid will be considered. Each bid must be on a customary bid form and shall be sealed in an envelope marked Bid for Clarksville Community School Corporation, Clark County, Indiana, General Obligation Bonds, Series 2016. Subject to the provisions contained herein, the award for the 2016 Bonds will be made to the bidder offering the lowest interest cost, to be determined by computing the total interest on all 2016 Bonds from the date of delivery thereof to the date of maturity or mandatory sinking fund redemption date, if applicable, and deducting therefrom the premium bid, if any, or adding thereto the amount of any discount, if any. The right is reserved to reject any and all bids and to waive any informality in any bid. If no acceptable bid is received on the date fixed for a sale of the 2016 Bonds, the sale of the 2016 Bonds may be continued from day-to-day thereafter without further advertisement for a period not to exceed thirty (30) days, but if so continued, no bid will be accepted which offers an interest cost which is equal to or higher than the best bid received at the time fixed for the sale. The successful bidder for the 2016 Bonds (the Purchaser) will be required to provide to the School Corporation a good faith deposit (the Deposit) in the form of cash, a certified check or a cashier's check or a wire transfer in the amount of $5,000 for the 2016 Bonds. The Deposit must be provided to the School Corporation no later than 3:00 p.m. E.S.T. on the business day immediately following the award of the 2016 Bonds. All checks shall be made payable to the Clarksville Community School Corporation, Clark County, Indiana, against default by the Purchaser in complying with the terms of this Notice and of its bid. No interest on the Deposit will accrue to any Purchaser. Each Deposit will be applied to the purchase price of the 2016 Bonds. In the event the Purchaser fails to honor its accepted bid, the Deposit will be retained by the School Corporation as liquidated damages. The Purchaser for the 2016 Bonds will be required to make payment for the 2016 Bonds in federal reserve funds and accept delivery of the 2016 Bonds within five (5) days after being notified that the 2016 Bonds are ready for delivery at a location designated by the School Corporation. Any premium bid must be paid at the time of delivery as a part of the purchase price of the 2016 Bonds. The 2016 Bonds will be ready for delivery within sixty (60) days after the date on which the award is made, and if not deliverable within that period, the Purchaser for the 2016 Bonds will be entitled to rescind the sale and the Deposit will be returned. Any notice of rescission must be in writing. At the time of delivery the 2016 Bonds, the approving opinion of Bond Counsel as to the validity of the 2016 Bonds, together with a transcript of the proceedings for the 2016 Bonds, and closing certificates in the customary form showing no litigation will be furnished to the Purchaser the 2016 Bonds at the expense of the School Corporation. In addition, unless Bond Counsel is able on the date of delivery of the 2016 Bonds to render an opinion to the effect that, under existing law (1) the interest on the 2016 Bonds is excludable from gross income for federal income tax purposes under Section 103 of the Code, and (2) the interest on the 2016 Bonds is exempt from income taxation in the State of Indiana for all purposes, except the Indiana financial institutions tax, the Purchaser for the 2016 Bonds shall have the right to rescind the sale for the 2016 Bonds and in such event, the Deposit will be returned to the Purchaser. The expense related to printing CUSIP identification numbers, if any, on the 2016 Bonds in addition to the CUSIP Service Bureau charges for assignment of numbers will be the responsibility of the Purchaser. Within seven (7) business days of the sale of the 2016 Bonds and if requested by the Purchaser, the School Corporation will provide the Purchaser with sufficient copies of the Final Official Statement at the School Corporation's expense. In order to assist bidders in complying with SEC Rule 15c2-12(b)(5), the School Corporation, will undertake, if requested by the Purchaser, to enter into a Continuing Disclosure Contract, pursuant to which the School Corporation will provide the annual financial statements of the School Corporation and other information as set forth in Continuing Disclosure Contract. A description of this undertaking is set forth in the nearly final Official Statement and will be set forth also in the final Official Statement. The Continuing Disclosure Contract will be executed and delivered by the School Corporation at the closing of the issuance of the 2016 Bonds. If bids are submitted by mail, they should be addressed to the School Corporation's financial advisor, Therber & Brock, Attn: Mr. Mike Therber, 11550 North Meridian Street, Suite 275, Carmel, Indiana 46032, telephone: (317) 637-9572, facsimile number (317) 686-9102. Further information relative to said issue and a copy of the nearly final Official Statement may be obtained upon application to the School Corporation's financial advisor, Therber & Brock, Attn: Mr. Mike Therber, 11550 North Meridian Street, Suite 275, Carmel, Indiana 46032, telephone: (317) 637-9572, facsimile number (317) 686-9102. Dated this 24th day of October, 2016. CLARKSVILLE COMMUNITY SCHOOL CORPORATION, CLARK COUNTY, INDIANA hspaxlp
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