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home : public notices : public notices May 24, 2016

11/27/2013 12:00:00 PM
WHITKO SCHOOL CORPORATION - WARRANTS

WHITKO SCHOOL CORPORATION NOTICE OF SALE OF WARRANTS
    NOTICE is hereby given that WHITKO SCHOOL CORPORATION (the "Issuer") has authorized  and will make one (1) or more temporary loans to meet current running expenses for the use of the Transportation Fund, the Transportation Bus Replacement Fund,  and the Capital Projects  Fund  of the Issuer, in aggregate amounts  not to exceed  the following for the respective identified  funds:
    Transportation Fund  [for  Warrants  issued  in  anticipation of  the  receipt  of  current   tax revenues levied  for  the  year  2013  and  in the  course  of  collection  in 2014]:  $815,000 maturing on  June  30,  2014,  December 31, 2014,  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 2013  and in the course  of collection in 2014]: $153,000 maturing  on June 30, 2014, December 31, 2014, 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  2013  and  in the  course  of collection in 2014]:  $1,500,000 maturing  on  June  30,  2014,  December 31 , 20 14,  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  six and one-half  percent (6.5%)  (the exact  rate  to  be determined by  negotiations with  the  Indiana  Bond  Bank  (the  "Bond  Bank")) subject  also  to,  following their  due  date, an  alternate rate  as  provided   in  a warrant  purchase agreement entered   into  by  the  Issuer.  The  Issuer  will  issue  temporary  loan  tax  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 Bond  Bank, in Indianapolis, Indiana, pursuant to Indiana  Code  5-1.5-8-1  on one  (1) or more dates  during  2014.  Pursuant  to Indiana Code  20-48-1-9,  no action  to contest  the validity  of such  warrants may be brought  later than  fifteen  (15) days from the first publication of this Notice.
11-27, 12-4 hspaxlp









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