Legal Notices

Ah...the section of the newspaper between the obituaries and the comics that almost everyone skips over. Yet some of the best information is available here. Notice how the defeasement amount changed from $24 million on Jan 26 to $22 million on Feb 6? And has anyone examined Appendix A or B yet? And how about the line "The Resolution provides for an effective date of the Resolution and further repeals, rescinds and annuls all inconsistent resolutions of the School District.". Is this standard wording, or is it "Hellmann-proofing" the resolution to cover the Emperor's butt?

Clips below courtesy of mypublicnotices.com

NOTICE FOR SPECIAL SCHOOL BOARD MEETING
NOTICE, it is hereby given that the Morrisville Borough School District Board of School Directors shall hold a special meeting on Wednesday, January 30, 2008 beginning at 7:30 p.m. in the LG1 Room at the School District's Middle/Senior High School, 550 West Palmer Street, Morrisville, Pennsylvania. The purpose of the special meeting is to adopt resolutions and take such other actions as may be necessary to defease a portion of the General Obligation Bonds, Capital Project Series 2006 and to amend the scope of the authorized project related thereto.
Marlys Mihok, Secretary

Appeared in: Bucks County Courier Times on Saturday, 01/26/2008



THE SCHOOL DISTRICT OF THE BOROUGH OF MORRISVILLE
Bucks County, Pennsylvania
NOTICE
NOTICE IS HEREBY GIVEN that the Board of School Directors (the "Board") of The School District of the Borough of Morrisville, Bucks County, Pennsylvania (the "School District"), at a special public meeting to be held at 7:30 p.m. on Wednesday, January 30, 2008, in the LGI Room at the School District's Middle/Senior High School, located at 550 West Palmer Street, Morrisville, Pennsylvania, 19067 will consider the adoption of a resolution (the "Resolution"), which would amend the resolution adopted on November 16, 2005 (the "Bond Resolution"), pursuant to which the School District issued its General Obligation Bonds, Capital Project Series, in the original aggregate principal amount of $28,500,000, and which are currently outstanding in the amount of $28,485,000 (the "Bonds"). The contents of the Resolution to be considered are summarized as follows:
The Resolution states that the School District authorizes the defeasance (the "Defeasance Program") of a portion of the outstanding Bonds in an amount of up to $24,000,000 (the "Defeased Bonds") and authorizes the utilization of Bonds proceeds for the Defeasance Program. The Resolution amends the definition of Capital Project as set forth in the Bond Resolution and authorizes the School District to undertake a project or projects involving the planning, designing, acquiring, constructing and furnishing of renovations and improvements to existing School District buildings (the "Revised Capital Project") and authorizes the expenditure of the remaining proceeds of the Bonds on the Revised Capital Project. The Resolution determines an estimated useful life of the Revised Capital Project. The Resolution appoints a bond counsel, financial advisor, verification agent and escrow agent for the Defeasance Program, and authorizes the preparation of such documents, agreements, and certificates and all actions necessary to proceed with the Defeasance Program. The Resolution authorizes and directs the redemption of the Defeased Bonds. The Resolution authorizes the appropriate officers of the School District to execute and deliver all agreements, certificates and documents and to take all necessary and appropriate actions to carry out the Resolution. The Resolution states the authority for enactment of the Resolution and declares same to be necessary for the public purposes of the School District. The Resolution sets forth a severability clause which states that the invalidity, illegality or unenforceability of any one provision in the Resolution shall not affect the validity, legality or enforceability of the remaining provisions. The Resolution provides for an effective date of the Resolution and further repeals, rescinds and annuls all inconsistent resolutions of the School District.
The full text of such proposed Resolution may be examined or inspected by any citizen in the office of the Secretary of the Board of School Directors of the School District, at the School District Offices, located at 550 West Palmer Street, Morrisville, Pennsylvania, on regular business days between the hours of 8:00 a.m. to 4:00 p.m.
Amendments may be made with respect to the Resolution prior to or during its final passage. Advertisement related to the final passage of the Resolution, in final form, including amendments, will be made in accordance with requirements of the Local Government Unit Debt Act, 53 Pa.C.S. Chs. 80-82 (the "Act").
This notice is given in accordance with requirements of and in compliance with the Act.
SCHOOL DISTRICT OF
THE BOROUGH
OF MORRISVILLE,
Bucks County,
Pennsylvania
By: Marlys Mihok,
Secretary of the Board of School Directors

Appeared in: Bucks County Courier Times on Saturday, 01/26/2008


THE SCHOOL DISTRICT
OF THE BOROUGH OF MORRISVILLE
Bucks County, Pennsylvania
NOTICE
NOTICE IS HEREBY GIVEN that the Board of School Directors (the "Board") of The School District of the Borough of Morrisville, Bucks County, Pennsylvania (the "School District"), at a special public meeting held at 7:30 p.m. on Wednesday, January 30, 2008, in the LGI Room at the School District's Middle/Senior High School, located at 550 West Palmer Street, Morrisville, Pennsylvania, 19067 adopted a resolution (the "Resolution"), which amended the resolution adopted on November 16, 2005 (the "Bond Resolution"), pursuant to which the School District issued its General Obligation Bonds, Capital Project Series, in the original aggregate principal amount of $28,500,000, and which are currently outstanding in the amount of $28,485,000 (the "Bonds"). The contents of the Resolution as adopted are summarized as follows:
The Resolution states that the School District authorizes the defeasance (the "Defeasance Program") of a portion of the outstanding Bonds in an amount of $22,000,000 (the "Defeased Bonds") and authorizes the utilization of Bonds proceeds for the Defeasance Program. The Resolution amends the definition of Capital Project as set forth in the Bond Resolution and authorizes the School District to undertake a project or projects involving the planning, designing, acquiring, constructing and furnishing of renovations and improvements to existing School District buildings (the "Revised Capital Project") and authorizes the expenditure of the remaining proceeds of the Bonds on the Revised Capital Project. The Resolution determines an estimated useful life of the Revised Capital Project. The Resolution appoints a bond counsel, financial advisor, verification agent and escrow agent for the Defeasance Program, and authorizes the preparation of such documents, agreements, and certificates and all actions necessary to proceed with the Defeasance Program. The Resolution authorizes and directs the redemption of the Defeased Bonds. The Resolution authorizes the appropriate officers of the School District to execute and deliver all agreements, certificates and documents and to take all necessary and appropriate actions to carry out the Resolution. The Resolution states the authority for enactment of the Resolution and declares same to be necessary for the public purposes of the School District. The Resolution sets forth a severability clause which states that the invalidity, illegality or unenforceability of any one provision in the Resolution shall not affect the validity, legality or enforceability of the remaining provisions. The Resolution provides for an effective date of the Resolution and further repeals, rescinds and annuls all inconsistent resolutions of the School District.
The full text of the Resolution as adopted may be examined or inspected by any citizen in the office of the Secretary of the Board of School Directors of the School District, at the School District Offices, located at 550 West Palmer Street, Morrisville, Pennsylvania, on regular business days between the hours of 8:00 a.m. to 4:00 p.m.
A summary of the Resolution was advertised on January 26, 2008 and the proposed text has been available in the office of the undersigned. During final adoption of the Resolution, the proposed Resolution previously available was amended and completed as follows: 1) The aggregate principal amount of Bonds to be defeased was determined to be $22,000,000; 2) The schedule of Bonds to be defeased was attached as Exhibit A to the Resolution and the schedule of remaining Bonds was attached as Exhibit B to the Resolution.
This notice is given in accordance with requirements of and in compliance with the Local Government Unit Debt Act, 53 Pa.C.S. Chs. 80-82 (the "Act").
SCHOOL DISTRICT
OF THE BOROUGH OF MORRISVILLE,
Bucks County,
Pennsylvania
By: Marlys Mihok,
Secretary of the Board of School Directors

Appeared in: Bucks County Courier Times on Wednesday, 02/06/2008