WAWASEE COMMUNITY SCHOOL CORPORATION - NOTICE OF INTENT TO SELL BONDS
July 28, 2016 at 4:25 p.m.
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NOTICE OF INTENT TO SELL BONDS $8,830,000 GENERAL OBLIGATION BONDS OF 2008 WAWASEE COMMUNITY SCHOOL CORPORATION Upon not less than twenty four (24) hours notice given by telephone by the undersigned Secretary prior to the ninetieth day after this notice is first published, Wawasee Community School Corporation (the "School Corporation") will receive and consider bids for the purchase of the following described Bonds. Any person interested in submitting a bid for the Bonds must furnish in writing to the Wawasee Community School Corporation c/o J.J.B. Hilliard, W.L. Lyons, Inc., 127 West Berry Street, Suite 800, Fort Wayne, Indiana 46802; (260) 424-4481, extension 201, Toll free: 1-888-468-7864, extension 201, (260) 422-9302 (facsimile) or [email protected] on or before 2:00 p.m. (Indianapolis Time) November 6, 2008, the person's name, address, telephone number, fax number and email address. Interested persons may also furnish a telecopy number. The undersigned Secretary will notify (or cause to be notified) each person so registered of the date and time bids will be received not less than twenty-four (24) hours before the date and time of sale. The notification shall be made by at the telephone number, fax number or email address furnished by such person It is anticipated that the sale will occur prior to 1I:00 a.m. (Indianapolis Time) on December 5, 2008. At the time designated for the sale, the School Corporation will receive at the offices of J.J.B. Hilliard, W.L. Lyons, Inc., 127 West Berry Street, Suite 800, Fort Wayne, Indiana 46802, and consider bids for the purchase of the following described Bonds: General Obligation Bonds of 2008 (the "Bonds") of the School Corporation, an Indiana political subdivision, in the principal amount of $8,830,000; Fully registered form; Denomination $5,000 and integral multiples thereof; Originally dated On the date of delivery; Bearing interest at a rate or rates to be determined by bidding, payable on July 15, 2009, and semiannually thereafter; These Bonds will be initially issued in a Book Entry System (as defined in the Bond Resolution). Interest payable by check mailed one business day prior to the interest payment date or by wire transfer to depositories on the interest payment date to the person or depository in whose name each Bond is registered with the Registrar on the fifteenth day immediately preceding such interest payment date; Maturing or subject to mandatory redemption on January 15 and July 15 on the dates and amounts as follows: DATE AMOUNT July 15, 2009 $810,000 January 15, 2010 820,000 July 15, 2010 840,000 January 15, 2011 855,000 July 15, 2011 870,000 January 15, 2012 890,000 July 15, 2012 910,000 January 15, 2013 925,000 July 15, 2013 945,000 January 15, 2014 965,000 The Bonds are not subject to redemption prior to maturity. The Bonds have NOT been designated as qualified tax-exempt obligations for purposes of Section 265(b)(3). A bid may designate that a given maturity or maturities shall constitute a term bond, and the semi-annual amounts set forth above shall constitute the mandatory sinking fund redemption requirements for such term bond or Bonds. For purposes of computing net interest cost, the mandatory redemption amounts shall be treated as maturing on the dates set forth in the schedule set forth above. Each bid must be for all of the Bonds and must state the rate of interest which each maturity of the Bonds is to bear, stated in multiples of 1/8th or 1/20th of 1%. The maximum interest rate of the Bonds shall not exceed 6% per annum. All Bonds maturing on the same date shall bear the same rate, and the rate of interest bid for each maturity must be equal to or greater than the rate bid on the immediately preceding maturity. Bids shall set out the total amount of interest payable over the term of the Bonds and the net interest cost on the Bonds covered by the bid. No bid for less than 100% of the face value of the Bonds, plus accrued interest from the date thereof to the date of delivery, will be considered. The Bonds will be awarded to the highest qualified bidder who has submitted a bid in accordance herewith. The highest bidder will be the one who offers the lowest net interest cost to the School Corporation, to be determined by computing the total interest on all of the Bonds to their maturities based upon the schedule provided by the School Corporation prior to the sale and deducting therefrom the premium bid, if any, and adding thereto the discount bid, if any. No conditional bids will be considered. The right is reserved to reject any and all bids. If an acceptable bid is not received for the Bonds on the date of sale hereinbefore fixed, the sale may be continued from day to day thereafter, during which time no bids for less than the highest bid received at the time of the advertised sale will be considered. No conditional bids will be considered. Each bid must be enclosed in a sealed envelope addressed to the School Corporation and marked on the outside "Bid for General Obligation Bonds of 2008". A good faith deposit ("Deposit") in the form of a certified or cashier's check or a Financial Surety Bond in the amount of $88,300 payable to the order of the School Corporation is required for each bid to be considered. If a check is used, it must accompany each bid. If a Financial Surety Bond is used, it must be from an insurance company licensed to issue such a bond in the State of Indiana, and such bond must be submitted to the School Corporation or its financial advisor prior to the opening of the bids. The Financial Surety Bond must identify each bidder whose Deposit is guaranteed by such Financial Surety Bond. If the Bonds are awarded to a bidder utilizing a Financial Surety Bond, then that purchaser (the "Purchaser") is required to submit its Deposit to the School Corporation or its financial advisor in the form of a cashier's check (or wire transfer such amount as instructed by the School Corporation or its financial advisor) not later than 3;30 p.m. (EST) on the next business day following the award. If Such Deposit is not received by that time, the Financial Surety Bond may be drawn by the School Corporation to satisfy the Deposit requirement. No intereston the Deposit will accrue to the Purchaser. The Deposit will be applied to the purchase price of the 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 checks of the unsuccessful bidders will be returned immediately following the award of the Bonds. The successful bidder shall make payment to the bank selected as registrar (the "Registrar") for the Bonds and accept delivery thereof from the Registrar within five days after being notified that the Bonds are ready for delivery, at such place in the City of Indianapolis, Indiana, as the successful bidder may designate. The Bonds will be ready for delivery within 45 days after the date of sale. If the School Corporation fails to have the Bonds ready for delivery prior to the close of banking hours on the forty-fifth day after the date of sale, the bidder may secure the release of his bid upon request in writing, filed with the School Corporation. The successful bidder is expected to apply to a securities depository registered with the SEC to make such Bonds depository-eligible. At the time of delivery of the Bonds to the successful bidder, the bidder will be required to certify to the School Corporation the initial reoffering price to the public of a substantial amount of each maturity of the Bonds. It is anticipated that CUSIP identification numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto shall constitute cause for failure or refusal by the successful bidder therefor to accept delivery of and pay for the Bonds in accordance with the terms of its proposal. No CUSIP identification number shall be deemed to be a part of any Bond or a part of the contract evidenced thereby and no liability shall hereafter attach to the School Corporation or any of its officers or agents because of or on account of such numbers. All expenses in relation to the printing of CUSIP identification numbers on the Bonds shall be paid for by the School Corporation; provided, however, that the CUSIP Service Bureau charge for the assignment of said numbers shall be the responsibility of and shall be paid for by the successful bidder. The successful bidder will also be responsible for any other fees or expenses it incurs in connection with the resale of the Bonds. The unqualified approving opinion of Ice Miller UP, bond counsel of Indianapolis, Indiana, together with a transcript of the proceedings relating to the issuance of the Bonds and closing papers in the usual form showing no litigation questioning the validity of the Bonds, will be furnished to the successful bidder at the expense of the School Corporation. The Bonds are being issued for the purpose to pay the cost to improve school buildings and pay costs of issuance, and will be direct Obligations of the School Corporation payable out of ad valorem taxes to be collected on the taxable property within the School Corporation. However, the School Corporation's collection of the levy may be limited by operation of I.C. 6-1.1-20.6 which beginning in 2008, provides a tax credit for any individual taxpayer's property tax bill in excess of 2% of its gross assessed valuation. The School Corporation may not be able to levy or collect additional property taxes to make up this short fall. Wawasee Community School Corporation is a school corporation organized pursuant to the provisions of I. C. 36-12, and the Bonds will not be "private activity bonds" as defined in Section 141 of the Internal Revenue Code of 1986. The Bonds constitute an indebtedness only of the School Corporation. Interest on the Bonds is exempt from all income taxation in Indiana. In the opinion of bond counsel, under the existing federal statutes, decisions, regulations and rulings, the interest on the Bonds is excludable from gross income for purposes of federal income taxation. Prior to the sale, the School Corporation will prepare a preliminary official statement relating to the Bonds which it has deemed td be a nearly final official statement. Within seven (7) business days of the sale, the School Corporation will provide the successful bidder with 25 copies of the final official statement at the School Corporation's expense. Additional copies, at the purchaser's expense, must be requested within five (5) business days of the sale. Inquiries concerning matters contained in the nearly final official statement must be made and pricing and other information necessary to complete the final Official Statement must be submitted by the successful bidder within two (2) business days following the sale to be included in the final official statement. The School Corporation has agreed to enter into a Continuing Disclosure Undertaking in order to permit the successful purchaser to comply with the SEC Rule 15(c)2-12. A copy of such Agreement is available from the School Corporation or financial advisor at the addresses below. Further information relative to said issue and a copy of the nearly final official statement may be obtained upon application to J.J.B. Hilliard, W.L. Lyons, Inc., 127 West Berry Street, Suite 800, Fort Wayne, Indiana 46802, financial advisor to the School Corporation; David Cates, Green & Cates, 1416 South Huntington Street, Syracuse, Indiana 46567, attorney for the School Corporation; or Dr. Thomas Edington, Superintendent, Wawasee Community School Corporation, 1 Warrior Path Building #2, Syracuse, Indiana 46567. If bids are submitted by mail, they should be addressed to the School Corporation, in care of J.J.B. Hilliard, W.L. Lyons, Inc., 127 West Berry Street, Suite 800, Fort Wayne, Indiana 46802. Dated this 22nd day of October, 2008. Becky Linnemeier, Secretary Board of School Trustees Wawasee Community School Corporation o22,29 [[In-content Ad]]
NOTICE OF INTENT TO SELL BONDS $8,830,000 GENERAL OBLIGATION BONDS OF 2008 WAWASEE COMMUNITY SCHOOL CORPORATION Upon not less than twenty four (24) hours notice given by telephone by the undersigned Secretary prior to the ninetieth day after this notice is first published, Wawasee Community School Corporation (the "School Corporation") will receive and consider bids for the purchase of the following described Bonds. Any person interested in submitting a bid for the Bonds must furnish in writing to the Wawasee Community School Corporation c/o J.J.B. Hilliard, W.L. Lyons, Inc., 127 West Berry Street, Suite 800, Fort Wayne, Indiana 46802; (260) 424-4481, extension 201, Toll free: 1-888-468-7864, extension 201, (260) 422-9302 (facsimile) or [email protected] on or before 2:00 p.m. (Indianapolis Time) November 6, 2008, the person's name, address, telephone number, fax number and email address. Interested persons may also furnish a telecopy number. The undersigned Secretary will notify (or cause to be notified) each person so registered of the date and time bids will be received not less than twenty-four (24) hours before the date and time of sale. The notification shall be made by at the telephone number, fax number or email address furnished by such person It is anticipated that the sale will occur prior to 1I:00 a.m. (Indianapolis Time) on December 5, 2008. At the time designated for the sale, the School Corporation will receive at the offices of J.J.B. Hilliard, W.L. Lyons, Inc., 127 West Berry Street, Suite 800, Fort Wayne, Indiana 46802, and consider bids for the purchase of the following described Bonds: General Obligation Bonds of 2008 (the "Bonds") of the School Corporation, an Indiana political subdivision, in the principal amount of $8,830,000; Fully registered form; Denomination $5,000 and integral multiples thereof; Originally dated On the date of delivery; Bearing interest at a rate or rates to be determined by bidding, payable on July 15, 2009, and semiannually thereafter; These Bonds will be initially issued in a Book Entry System (as defined in the Bond Resolution). Interest payable by check mailed one business day prior to the interest payment date or by wire transfer to depositories on the interest payment date to the person or depository in whose name each Bond is registered with the Registrar on the fifteenth day immediately preceding such interest payment date; Maturing or subject to mandatory redemption on January 15 and July 15 on the dates and amounts as follows: DATE AMOUNT July 15, 2009 $810,000 January 15, 2010 820,000 July 15, 2010 840,000 January 15, 2011 855,000 July 15, 2011 870,000 January 15, 2012 890,000 July 15, 2012 910,000 January 15, 2013 925,000 July 15, 2013 945,000 January 15, 2014 965,000 The Bonds are not subject to redemption prior to maturity. The Bonds have NOT been designated as qualified tax-exempt obligations for purposes of Section 265(b)(3). A bid may designate that a given maturity or maturities shall constitute a term bond, and the semi-annual amounts set forth above shall constitute the mandatory sinking fund redemption requirements for such term bond or Bonds. For purposes of computing net interest cost, the mandatory redemption amounts shall be treated as maturing on the dates set forth in the schedule set forth above. Each bid must be for all of the Bonds and must state the rate of interest which each maturity of the Bonds is to bear, stated in multiples of 1/8th or 1/20th of 1%. The maximum interest rate of the Bonds shall not exceed 6% per annum. All Bonds maturing on the same date shall bear the same rate, and the rate of interest bid for each maturity must be equal to or greater than the rate bid on the immediately preceding maturity. Bids shall set out the total amount of interest payable over the term of the Bonds and the net interest cost on the Bonds covered by the bid. No bid for less than 100% of the face value of the Bonds, plus accrued interest from the date thereof to the date of delivery, will be considered. The Bonds will be awarded to the highest qualified bidder who has submitted a bid in accordance herewith. The highest bidder will be the one who offers the lowest net interest cost to the School Corporation, to be determined by computing the total interest on all of the Bonds to their maturities based upon the schedule provided by the School Corporation prior to the sale and deducting therefrom the premium bid, if any, and adding thereto the discount bid, if any. No conditional bids will be considered. The right is reserved to reject any and all bids. If an acceptable bid is not received for the Bonds on the date of sale hereinbefore fixed, the sale may be continued from day to day thereafter, during which time no bids for less than the highest bid received at the time of the advertised sale will be considered. No conditional bids will be considered. Each bid must be enclosed in a sealed envelope addressed to the School Corporation and marked on the outside "Bid for General Obligation Bonds of 2008". A good faith deposit ("Deposit") in the form of a certified or cashier's check or a Financial Surety Bond in the amount of $88,300 payable to the order of the School Corporation is required for each bid to be considered. If a check is used, it must accompany each bid. If a Financial Surety Bond is used, it must be from an insurance company licensed to issue such a bond in the State of Indiana, and such bond must be submitted to the School Corporation or its financial advisor prior to the opening of the bids. The Financial Surety Bond must identify each bidder whose Deposit is guaranteed by such Financial Surety Bond. If the Bonds are awarded to a bidder utilizing a Financial Surety Bond, then that purchaser (the "Purchaser") is required to submit its Deposit to the School Corporation or its financial advisor in the form of a cashier's check (or wire transfer such amount as instructed by the School Corporation or its financial advisor) not later than 3;30 p.m. (EST) on the next business day following the award. If Such Deposit is not received by that time, the Financial Surety Bond may be drawn by the School Corporation to satisfy the Deposit requirement. No intereston the Deposit will accrue to the Purchaser. The Deposit will be applied to the purchase price of the 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 checks of the unsuccessful bidders will be returned immediately following the award of the Bonds. The successful bidder shall make payment to the bank selected as registrar (the "Registrar") for the Bonds and accept delivery thereof from the Registrar within five days after being notified that the Bonds are ready for delivery, at such place in the City of Indianapolis, Indiana, as the successful bidder may designate. The Bonds will be ready for delivery within 45 days after the date of sale. If the School Corporation fails to have the Bonds ready for delivery prior to the close of banking hours on the forty-fifth day after the date of sale, the bidder may secure the release of his bid upon request in writing, filed with the School Corporation. The successful bidder is expected to apply to a securities depository registered with the SEC to make such Bonds depository-eligible. At the time of delivery of the Bonds to the successful bidder, the bidder will be required to certify to the School Corporation the initial reoffering price to the public of a substantial amount of each maturity of the Bonds. It is anticipated that CUSIP identification numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto shall constitute cause for failure or refusal by the successful bidder therefor to accept delivery of and pay for the Bonds in accordance with the terms of its proposal. No CUSIP identification number shall be deemed to be a part of any Bond or a part of the contract evidenced thereby and no liability shall hereafter attach to the School Corporation or any of its officers or agents because of or on account of such numbers. All expenses in relation to the printing of CUSIP identification numbers on the Bonds shall be paid for by the School Corporation; provided, however, that the CUSIP Service Bureau charge for the assignment of said numbers shall be the responsibility of and shall be paid for by the successful bidder. The successful bidder will also be responsible for any other fees or expenses it incurs in connection with the resale of the Bonds. The unqualified approving opinion of Ice Miller UP, bond counsel of Indianapolis, Indiana, together with a transcript of the proceedings relating to the issuance of the Bonds and closing papers in the usual form showing no litigation questioning the validity of the Bonds, will be furnished to the successful bidder at the expense of the School Corporation. The Bonds are being issued for the purpose to pay the cost to improve school buildings and pay costs of issuance, and will be direct Obligations of the School Corporation payable out of ad valorem taxes to be collected on the taxable property within the School Corporation. However, the School Corporation's collection of the levy may be limited by operation of I.C. 6-1.1-20.6 which beginning in 2008, provides a tax credit for any individual taxpayer's property tax bill in excess of 2% of its gross assessed valuation. The School Corporation may not be able to levy or collect additional property taxes to make up this short fall. Wawasee Community School Corporation is a school corporation organized pursuant to the provisions of I. C. 36-12, and the Bonds will not be "private activity bonds" as defined in Section 141 of the Internal Revenue Code of 1986. The Bonds constitute an indebtedness only of the School Corporation. Interest on the Bonds is exempt from all income taxation in Indiana. In the opinion of bond counsel, under the existing federal statutes, decisions, regulations and rulings, the interest on the Bonds is excludable from gross income for purposes of federal income taxation. Prior to the sale, the School Corporation will prepare a preliminary official statement relating to the Bonds which it has deemed td be a nearly final official statement. Within seven (7) business days of the sale, the School Corporation will provide the successful bidder with 25 copies of the final official statement at the School Corporation's expense. Additional copies, at the purchaser's expense, must be requested within five (5) business days of the sale. Inquiries concerning matters contained in the nearly final official statement must be made and pricing and other information necessary to complete the final Official Statement must be submitted by the successful bidder within two (2) business days following the sale to be included in the final official statement. The School Corporation has agreed to enter into a Continuing Disclosure Undertaking in order to permit the successful purchaser to comply with the SEC Rule 15(c)2-12. A copy of such Agreement is available from the School Corporation or financial advisor at the addresses below. Further information relative to said issue and a copy of the nearly final official statement may be obtained upon application to J.J.B. Hilliard, W.L. Lyons, Inc., 127 West Berry Street, Suite 800, Fort Wayne, Indiana 46802, financial advisor to the School Corporation; David Cates, Green & Cates, 1416 South Huntington Street, Syracuse, Indiana 46567, attorney for the School Corporation; or Dr. Thomas Edington, Superintendent, Wawasee Community School Corporation, 1 Warrior Path Building #2, Syracuse, Indiana 46567. If bids are submitted by mail, they should be addressed to the School Corporation, in care of J.J.B. Hilliard, W.L. Lyons, Inc., 127 West Berry Street, Suite 800, Fort Wayne, Indiana 46802. Dated this 22nd day of October, 2008. Becky Linnemeier, Secretary Board of School Trustees Wawasee Community School Corporation o22,29 [[In-content Ad]]
