BELLEFONTE AREA SCHOOL DISTRICT SUMMARY NOTICE UNDER LOCAL GOVERNMENT UNIT DEBT ACT Notice is hereby given that the Board of School Directors of Bellefonte Area School District will consider, at a meeting to be held on Tuesday, July 15, 2025, at 7:00 p.m. in the Bellefonte Area Middle School Cafeteria, 100 North School Street, Bellefonte, PA 16823 (or at such other time and place, and on such other date, not later than thirty (30) days following the date of publication of this notice, as the Board may lawfully determine), together with such other business as may come before the Board, the adoption of a resolution authorizing nonelectoral debt in the presently estimated amount of $22,000,000.00, and summarized as follows: Article 1 defines certain terms, including the Bonds and the project, which consists primarily of the costs of (a) capital projects including: (i) the design, construction and equipping of new elementary school, (ii) renovations and improvements to Pleasant Gap Elementary School and (iii) various and sundry other capital improvements to the School District facilities; and (b) the payment of all costs and expenses incurred by the School District in connection with the issuance and sale of the Bonds. Articles 2 and 3 authorize the incurrence of non-electoral debt by the issuance of General Obligation Bonds and establish a sinking fund. Article 4 provides the form, maturity, amounts, interest rates and the terms and provisions for the payment of the Bonds. Articles 5, 6, 7 and 8 address the Sinking Fund Depository, events of default, and amendment and discharge of the security documents. Article 9 contains federal income tax covenants; Article 10, securities law covenants. Article 11 provides for the sale of the Bonds, establishes certain funds and sets forth certain directions for settlement, while Article 12 authorizes other related and necessary actions. The full text of the Resolution as proposed may be examined by any citizen between the hours of 9:00 a.m. and 4:00 p.m. on regular school business days at the Bellefonte Area School District, 318 North Allegheny Street, Bellefonte, PA 16823. BELLEFONTE AREA SCHOOL DISTRICT Kenneth G. Bean, Jr. Director of Fiscal Affairs (814) 355-4814 IPL0252235 Jul 9 2025