NOTICE TO BIDDERS For Tax Anticipation Time Warrants of 2017 Charles A. Beard Memorial School Corporation Henry/Rush Counties, Indiana Not to Exceed $219,000 Capital Projects Fund $221,000 Transportation Fund $51,000 Bus Replacement Fund $154,000 General Fund Notice is hereby given that the Board of School Trustees (the Board) of the Charles A. Beard Memorial School Corporation, Henry/Rush Counties, Indiana (the School District), will receive sealed bids at the Administration Building of said School District, 8139 West U.S. 40, Knightstown, Indiana 46148, attn: Treasurer, until 4:00 p.m. EST, December 1, 2016, facsimile number (765) 345-5103, for the following described time warrants: Time warrants in anticipation of state tuition support payments (with respect to the General Fund of the School District) and taxes levied and in the course of collection for the respective Funds of the School District (other than the General Fund of the School District) and in the amounts not to exceed the amounts listed below, to be dated the date of delivery which is expected to be on or after January 3, 2017. Fund Amount Maturity Date Capital Projects $219,000 December 29, 2017 Transportation 221,000 December 29, 2017 Bus Replacement 51,000 December 29, 2017 General 154,000 December 29, 2017 The warrants are not subject to optional prepayment prior to maturity. Interest rates on the warrants shall not exceed five percent (5.00%) per annum (the exact rates to be determined by bidding) payable at maturity of the warrants. Interest shall be calculated on an actual/365-day basis and principal and interest will be payable at such bank in Indiana as such purchaser or purchasers designate. The warrants will be delivered in full on or about January 3, 2017, and will be issued in denominations not less than $100,000 or, in the case of individual warrants issued in an aggregate principal amount less than $100,000, the aggregate principal amount of such warrants, and $1,000 increments above such amount. A bid shall be submitted for all warrants for each maturity in each Fund and shall state a rate or rates of interest in multiples of 1/100th of one percent (1%). No bid for less than par will be considered. The warrants for the respective Funds and maturities shall be awarded to the bidder complying with the terms of sale and offering the lowest net interest cost to the School District, to be determined by computing the total interest on the specific warrant from closing on January 3, 2017, to maturity on December 29, 2017, and deducting therefrom the premium bid if any. The successful bidder or bidders will also be required to certify that they are purchasing the warrants for their own account and not with the current intent to resell all or any portion of the warrants. Although not a term of sale, it is requested that each bid show the net dollar interest cost and the net effective interest rate for each warrant included in the bid. The right is reserved to reject any and all bids and, if acceptable bids are not received on the sale date, the sale may be continued from day to day thereafter, for a period not exceeding thirty (30) days, without re-advertisement of the sale. The warrants are being issued under the provisions of Indiana Code Title 20, Article 48, Chapter 1, Section 9, to make temporary loans for the purpose of obtaining funds for the purposes of meeting expenses of the Funds included in the regular budget and appropriations adopted by the School District for the year 2017, which expenses must be met prior to the receipt of state tuition support payments (with respect to the General Fund of the School District) and the June 2017 settlement and distribution of taxes for each Fund (other than the General Fund of the School District). There has been appropriated and pledged a sufficient amount of current revenues of the School District from the revenues or levy of each named Fund made and in the course of collection for 2017, to pay the principal of the warrants for each Fund at maturity, and there has been appropriated and pledged a sufficient amount of current revenues of the School District from the levy of the School District's Debt Service Fund made and in the course of collection for 2017, to pay the interest on the warrants for each Fund at maturity. In connection with any acquisition of the warrants by financial institutions, the School District has designated the warrants as qualified tax-exempt obligations for purposes of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. The approving opinion of Barnes & Thornburg LLP, bond counsel, Indianapolis, Indiana, together with typewritten and executed warrants for each Fund and a transcript of the legal proceedings will be furnished to the successful bidder or bidders, the expenses for which shall be paid by the successful bidder or bidders. No conditional bids shall be considered. The successful bidder or bidders shall accept delivery of the warrants and make payment therefor at such bank, in Indiana, as the successful bidder or bidders designate. Delivery of the warrants will be made on the expected date of delivery set forth above or other such date mutually agreed to by the successful bidder and seller. Dated this 8th day of November, 2016. BOARD OF SCHOOL TRUSTEES OF THE CHARLES A. BEARD MEMORIAL SCHOOL CORPORATION RR-351 Nov. 8, 15 hspaxlp
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