Derry Area School District authorized $18 million in general obligation bonds.
Official Courthouse Record · AI-summarized for clarity
What You Should Do Next
- 1
Review the Resolution
Visit the District Office to examine the full text of the Resolution.
- 2
Contact the Board Secretary
For questions, reach out to Scott Chappell at the District Office.
- 3
Note the Interest Rate
Be aware that the maximum interest rate for the bonds is set at 5.50%.
Frequently Asked Questions
- What is the purpose of the bonds issued by Derry Area School District?
- The bonds are for incurring nonelectoral debt to fund school district projects.
- What is the maximum interest rate for the bonds?
- The maximum interest rate on the bonds is 5.50%.
- Where can I view the full text of the Resolution?
- The full text can be examined at the District Office during regular business hours.
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Full Notice Text
DERRY AREA SCHOOL DISTRICTENACTMENT NOTICEUNDER LOCAL GOVERNMENT UNIT DEBT ACTNotice is hereby given that the Board of School Directors of Derry Area School District, at a meeting held on February 19, 2026, adopted a Resolution titled and summarized as follows:AUTHORIZING THE INCURRING OF NONELECTORAL DEBT BY THE ISSUANCE OF GENERAL OBLIGATION BONDS, SERIES OF 2026 IN THE AGGREGATE PRINCIPAL AMOUNT NOT-TO-EXCEED EIGHTEEN MILLION DOLLARS ($18,000,000); COVENANTING TO PAY, AND PLEDGING ALL AVAILABLE TAXING POWER OF THE LOCAL GOVERNMENT UNIT FOR THE PAYMENT OF, THE BONDS; PROVIDING FOR THE ESTABLISHMENT A SINKING FUND AND THE APPOINTMENT OF A SINKING FUND DEPOSITORY; FIXING THE FORM, MAXIMUM INTEREST RATES, MATURITY, REDEMPTION AND OTHER PROVISIONS FOR THE PAYMENT THEREOF; AUTHORIZING THE ACCEPTANCE OF A PROPOSAL FOR THE PURCHASE OF THE BONDS; AUTHORIZING A FILING OF REQUIRED DOCUMENTS WITH THE DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT; RATIFYING AND DIRECTING CERTAIN ACTIONS OF OFFICERS; AND MAKING CERTAIN OTHER COVENANTS AND PROVISIONS IN RESPECT OF THE BONDS.The Resolution was not amended from its proposed form during final passage.The maximum interest rate on the Bonds, once issued, is 5.50%.The Bonds will be purchased by Raymond James & Associates, Incorporated at a purchase price of not less than 95.00%, inclusive of net original issue discount/premium, if any, together with accrued interest to the date of delivery.The full text of the Resolution, as adopted, may be examined by any citizen during regular business hours on regular school business days at the District Office, 982 N Chestnut Street Ext, Derry, PA 15627.Scott ChappellBoard Secretary402888 (2/24/26)