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WHITKO COMMUNITY SCHOOLS NOTICE OF SALE OF WARRANTS NOTICE is hereby given that Whitko Community Schools (the "Issuer") has authorized and will make one or more temporary loans to meet current running expenses for the use of the General Fund, the Transportation Fund, the Debt Service Fund, the Capital Projects Fund and the Transportation Bus Replacement Fund of the Issuer, in aggregate amounts not to exceed the following for the respective identified funds; General Fund [for Warrantee issued in anticipation of the receipt of current state tuition support revenue estimated to be received on or before December 31, 2008 (but after the last day of June 2008)): $504,117 maturing on December 31, 2008; General Fund [for Warrants issued in anticipation of the receipt of current tax revenues levied for the year 2007 and in the course of collection in 2008 (including property tax replacement revenues)]: $2,984,734 maturing on June 30, 2008, December 31, 2008, or a date fixed by reference to the Issuer's receipt in settlement of the funds in anticipation of which any Warrant is issued, or any combination thereof, as determined by the Issuer's officer prior to their issuance; Transportation Fund [for Warrants issued in anticipation of the receipt of current tax revenues levied for the year 2007 and in the course of collection in 2008 (including property tax replacement revenues)]: $675,582 maturing on June 30, 2008, December 31, 2008, or a date fixed by reference to the Issuer's receipt in settlement of the funds in anticipation of which any Warrant is issued, or any combination thereof, as determined by the Issuer's officer prior to their issuance; Debt Service Fund [for Warrants issued in anticipation of the receipt of current tax revenues levied for the year 2007 and in the course of collection in 2008 (including property tax replacement revenues)): $2,581,741 maturing on June 30, 2008, December 31, 2008, or a date fixed by reference to the Issuer's receipt in settlement of the funds in anticipation of which any Warrant is issued, or any combination thereof, as determined by the Issuer's officer prior to their issuance; Capital Projects Fund [for Warrants issued in anticipation of the receipt of current tax revenues levied for the year 2007 and in the course of collection in 2008 (including property tax replacement revenues)): $1,569,101 maturing on June 30, 2008, December 31, 2008, or a date fixed by reference to the Issuer's receipt in settlement of the funds in anticipation of which any Warrant is issued, or any combination thereof, as determined by the Issuer's officer prior to their issuance. Transportation Bus Replacement Fund [for Warrants issued in anticipation of the receipt of current tax revenues levied for the year 2007 and in the course of collection in 2008 (including property tax replacement revenues)): $241,942 maturing on June 30, 2008, December 31, 2008, or a date fixed by reference to the Issuer's receipt in settlement of the funds in anticipation of which any Warrant is issued, or any combination thereof, as determined by the Issuer's officer prior to their issuance. Such loans shall be at a per annum rate not to exceed 6.5% (the exact rate to be determined by negotiations with the Indiana Bond Bank) subject also following their due date to an alternate rate as provided in a warrant purchase agreement entered into by the Issuer. The Issuer will issue temporary loan tax and/or revenue anticipation warrants to evidence such loans. The Issuer has appropriated and pledged the taxes and/or revenues to be received in such funds to the punctual payment of such warrants including the interest thereon. The Warrants will be sold to the Indiana Bond Bank, in Indianapolis, Indiana, pursuant to Indiana Code 5-1.5-8-1 on one or more dates during 2008. The Warrants will be issued pursuant to Indiana Code 20-48-1-9, and pursuant thereto, no action to contest the validity of such warrants may be brought later than fifteen (15) days from the first publication of this Notice. j12,19
