OFFICIAL MUNICIPALITY OF BETHEL PARK PUBLIC NOTICE NOTICE OF ADOPTION OF AN ORDINANCE AUTHORIZING THE INCURRENCE OF NON-ELECTORAL DEBT NOTICE is hereby given that on December 2, 2015, the Municipal Council of the Municipality of Bethel Park, Allegheny County, Pennsylvania (the "Municipality") enacted an ordinance (the "Ordinance") authorizing the incurring of non-electoral debt by the issuance of its $9,105,000 General Obligation Bonds and the private sale thereof; covenanting to pay, and pledging the taxing power of the Municipality for the payment of the Bonds; establishing a sinking fund and appointing a sinking fund depository; fixing the form, interest rates, serial maturities, the optional redemption terms and other provisions for the payment of the Bonds; authorizing a filing of required documents with the Department of Community and Economic Development; ratifying and directing certain actions of officers; and making certain other covenants and provisions in respect of the Bonds. In the process of the enactment of the Ordinance, the Ordinance was amended from its proposed form upon passage to reduce the stated amount of the Bonds from $9,500,000 to $9,150,000, to establish the purchase price for the Bonds, to attach a schedule of the summary of bond terms and the amortization and debt service schedule for the Bonds to the Ordinance, to establish a closing date for the issuance of the Bonds, to establish the serial maturities of, and coupon rates for, the Bonds, to establish the mandatory redemption dates, and the various amounts subject to mandatory redemption, for the Bonds set to mature on December 1, 2024, 2026, 2029, 2032, 2035, 2037, 2040 and 2045, to establish the optional redemption of the Bonds and the dates such optional redemptions may occur, to establish the amount of original issue discount for certain maturities of the Bonds that are set to mature on December 1, 2022 through December 1, 2035 and December 1, 2040, to establish the amount of original issue premium for maturities of the Bonds that are set to mature December 1, 2016 through December 1, 2021 and December 1, 2037, 2038 and 2045, to accept the bond purchase agreement tendered by the purchaser of the Bonds, and to correct certain editing errors. Piper Jaffray & Co. purchased the Bonds at a purchase price of $9,105,000, plus a net original issue premium of $32,549.20, and less an underwriter's discount of $81,489.75, to arrive at a net purchase price of $9,056,059.45. The interest rates entered in the Ordinance range from 2.00% for the Bonds maturing on December 1, 2016 to 4.00% for Bonds maturing on December 1, 2045. The serial maturity dates for the Bonds are December 1 of 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2024, 2026, 2029, 2032, 2035, 2037, 2038, 2040 and 2045. A copy of the full text of the Ordinance may be examined by any citizen at the Municipal Manager's office at the Municipal Building, 5100 West Library Avenue, Bethel Park, PA 15102, on any business day between the hours of 8:00 A.M. and 4:30 P.M., prevailing time. MUNICIPALITY OF BETHEL PARK William J. Spagnol Municipal Manager
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