SCASD To Issue Bonds for Elementary Projects

Starting Tuesday, March 13, 2018 the State College Area School District is issuing approximately $49,610,000 of its General Obligation Bonds, Series of 2018 to provide funding for the renovations and additions to Corl Street and Radio Park Elementary Schools and the new Spring Creek Elementary School.  

The bonds will be rated Aa1/AA by Moody’s and Standard & Poor’s, respectively. State College Area School District has retained the Aa1 rating from Moody’s, its second highest category. About 8 percent of school districts statewide are rated at or higher than Aa1.

The AA rating is Standard & Poor’s third highest category. About 15 percent of school districts statewide are rated the same or higher.

Individual retail customers may purchase bonds during a priority period that is expected to take place on Tuesday, March 13.

Anyone interested in purchasing the bonds should request a copy of the Preliminary Official Statement related to the bonds from Bank of America Merrill Lynch 814-231-8901, Janney Montgomery Scott 800-238-0067, Raymond James 877-295-9116, or UBS Financial Services Inc. 800-633-1245.

Questions about the bond issuance or the Elementary School Project funding should be directed to the district business office at 814-231-1021.

Please find the preliminary offering statement here.

This announcement does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the bonds in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under securities laws of any such jurisdiction. The bonds will be sold only by means of an official statement.