Notice of Intent to Issue Bonds

Exhibit A

Notice of Intent to Issue Bonds to Finance Certain Health and Safety Projects

Independent School

District No. 111

(Watertown-Mayer)

State of Minnesota

 

NOTICE  IS HEREBY GIVEN that Independent School District No. 111 (Watertown-Mayer) State of Minnesota (the “District) intends to issue general obligation alternative facilities bonds (the “Bonds”) in the total principal amount of $3,175,000 pursuant to Minnesota Statutes, Section 123B.59 and Chapter 475, as amended. The proceeds of the bonds will be used to fund the costs of the following health and safety projects approved by the School Board and related costs, subject to the approval of the Commissioner of Education:

Indoor air quality improvements to the District’s primary school, including items such as mechanical air handling systems, heating and HVAC system controls, and related electrical system upgrades.

The total amount of outstanding indebtedness of the District as of April 30, 2013, is $46,140,000. If the proposed bonds are issued, the total indebtedness of the District would be $49,315,000.

 

Dated: February 25, 2013

BY ORDER OF THE SCHOOL BOARD

 

/s/ Jennifer Hoover

School District Clerk

Independent School District No. 111

(Watertown-Mayer)

State of Minnesota

 

(Published in Carver County News March 7, 2013)

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