Following the State College Area School District Board of Directors’ approval on July 15, the district is issuing two series of bonds of approximately $32.5 million on Aug. 13 in part to fund capital improvements district-wide.
Series A will be for capital improvements to State High, the North Building on the high school campus, Memorial Field, elementary school buildings, elementary playground improvements and other capital improvements to facilities. A breakdown of how the funds are expected to be allocated was shared with the Board on July 1. State High’s portion will cover the remaining debt of the State High Project.
Series B will pay the costs of refunding to reduce debt services for the previous General Obligation Bonds, Series of 2013 and 2012.
Bank of America Merrill Lynch is the sole senior managing underwriter for the sale.
Questions about the bond issuance should be directed to the district business office at 814-231-1021.
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.