Upper Darby School District authorized $12 million in non-electoral debt for school projects.

UPPER DARBY SCHOOL DISTRICT
(Delaware County, Pennsylvania)

NOTICE OF ADOPTION OF RESOLUTION AUTHORIZING
THE INCURRENCE OF NON-ELECTORAL DEBT

NOTICE IS GIVEN that the Board of School Directors of the UPPER DARBY SCHOOL DISTRICT, Delaware County, Pennsylvania (the “School District”), at a meeting duly called and held on February 10, 2026, adopted a resolution (the “Resolution”) authorizing the incurrence of non-electoral debt by the School District through the issuance of its general obligation bonds, in one or more series, in the maximum aggregate principal amount not to exceed $12,000,000 (the “Bonds”).

The proceeds of the Bonds, as well as other available funds of the School District, will be used for purposes of: (i) the planning, designing, constructing, equipping, furnishing, and financing of a new Clifton Heights Middle School building; (ii) planning and designing for the repurposing of the former Delaware County Memorial Hospital site which may include demolition and reconstruction of a new school building or renovations, alterations, demolition, additions, to the existing facilities for use as a new school building; (iii) the planning, designing, constructing, equipping, furnishing and financing of various other capital improvements to school facilities and school buildings owned or controlled and operated by the School District (items (i), (ii) and (iii) sometimes referred to herein collectively, as the “Project”); 

The Resolution approves the sale of the Bonds at a private sale by negotiation and accepts a proposal for the purchase of the Bonds from Raymond James & Associates, Inc. (the “Purchaser”) subject to the execution of an addendum thereto setting forth the final terms of the Bonds within the parameters established by the School District in the Resolution.  The purchase price for the Bonds, exclusive of original issue discount or premium, should not be less than 95% nor more than 125% of par of the Bonds to be issued.  The Bonds will bear interest at rates not to exceed 5.5% per annum and will mature on April 1, 2027, and thereafter on April 1 of each year through April 1, 2055 inclusive, in varying maximum principal amounts ranging from $230,000 to $700,000.

A summary of the Resolution was advertised on February 6, 2026.  The proposed text of the Resolution was available for inspection at the Administration Office of the School District, in accordance with the requirements of the Pennsylvania Local Government Unit Debt Act, as codified by the Act of December 19, 1996, (P.L. 1158, No. 177) (the “Act”).

Prior to final adoption of the Resolution, the proposed Resolution previously on file at the Administrative Office of the School District was amended to describe the Project as providing funds for: (i) the planning, designing, constructing, equipping, furnishing, and financing of a new Clifton Heights Middle School building; (ii) planning and designing for the repurposing of the former Delaware County Memorial Hospital site which may include demolition and reconstruction of a new school building or renovations, alterations, demolition, additions, to the existing facilities for use as a new school building; (iii) the planning, designing, constructing, equipping, furnishing and financing of various other capital improvements to school facilities and school buildings owned or controlled and operated by the School District.

The full text of the Resolution described above may be examined by any citizen in the Administrative Office of the School District, 8201 North Lansdowne Avenue, Upper Darby, PA 19082 on business days during the hours of 8:00 a.m. to 4:00 p.m.  This Notice is given in accordance with the requirements of and in compliance with Section 8003 the Act.  

Craig J. Rogers,
Secretary of the Board of School Directors
Upper Darby School District
DCT: Feb 16.  a-1