PROOF OF PUBLICATION NOTICE OF SALE OF TAX ANTICIPATION WARRANT OF GREATER CLARK COUNTY SCHOOLS Notice is hereby given, that representatives of the Board of School Trustees of Greater Clark County Schools, on December 5, 2016, at 10:00 a.m. (Local Time) at the Administration Offices located at 2112 Utica-Sellersburg Road, Jeffersonville, Indiana, will receive sealed bids, or telecopied bids with prior arrangement with the School Corporation, and let to the highest bidder therefore, the following described time warrants: Time warrants in anticipation of taxes levied and in the following funds in the designated amounts: Fund Amount Maturity General $3,000,000 December 29, 2017 Capital Projects $1,500,000 December 29, 2017 Debt Service $1,875,000 December 29, 2017 Pension Debt Service $ 200,000 December 29, 2017 Bus Replacement $ 500,000 December 29, 2017 Transportation $1,750,000 December 29, 2017 The warrants shall be dated as of the date of delivery thereof to the Purchaser or Purchasers; all warrants shall bear interest at a rate to be determined by this bidding payable at maturity of the warrants. All warrants of the same fund shall bear interest at the same rate. Interest shall be calculated on a 365 day basis. Principal and interest shall be payable at the office of the school treasurer. It is anticipated that the warrants will be delivered on or about January 3, 2017. These Tax Anticipation Warrants have been designated as qualified tax-exempt obligations pursuant to Section 265(b)(3) of the Internal Revenue Code. A bid may be for all or a portion of the warrants but no bids for less than par or for less than the full principal amount of a fund will be considered. A bid shall state a single rate of interest for each fund and such rate or rates shall be stated as multiples of 1/100 of 1 percent. The warrants shall be awarded to the bidder and/or bidders submitting the lowest net interest rate after deducting therefrom the premium bid, if any, for the warrants for that fund. Any premium shall be allocated evenly among the principal amount of the warrants bid. The right is reserved to reject any and all bids and to deliver less than the whole issue if an approving opinion cannot be obtained covering the whole issue. If acceptable bids are not received on the sale date covering the warrants, the sale of the unpurchased portion thereof, may be continued from day to day thereafter, for not exceeding thirty (30) days without readvertisement of the sale. Within 24 hours of being notified that they are the successful bidder, the purchaser must provide the school corporation with cash, a certified cashiers check or a financial surety bond in the amount of one percent (1%) of the amount of the warrants bid for, made payable to the School Treasurer, to guarantee the School Corporation against default by such bidder in complying with the terms of this notice and of its bid. At the time of delivery, the successful bidder will be required to certify as to the price at which a substantial amount of the warrants, if any, was reoffered to the public. Said warrants are being issued under the provision of Indiana Code, Title 20, Article 48, Chapter 1, to meet the expenses of the School Corporation included in the regular budget and appropriations adopted for the year 2017 prior to the December 2017 settlements and distributions of taxes and the receipt of the state tuition support distributions. There has been appropriated and pledged a sufficient amount of current revenues of the School Corporation to be derived from the Debt Service, Pension Debt Service, Bus Replacement and Transportation Fund levies respectively, made in the year of 2016, collectible in 2017 and thereafter, and the state tuition support distributions to be received in the General Fund in 2017 to pay the principal of and interest on said warrants at maturity. The approving opinion of TW Peterson Law Office, Bond Counsel, covering the legality of such warrant will be furnished to the Purchaser, at the Purchaser's expense, together with the usual closing certificates and a transcript of the legal proceedings. No conditional bids shall be considered. The warrants for each Fund of this issue shall be delivered at the time set above. The successful bidder or bidders shall accept delivery of the warrants and make payment therefor at such Bank as such bidder or bidders shall designate. GREATER CLARK COUNTY SCHOOLS Board of School Trustees hspaxlp
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