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ISSUE BONDS RW school

Tuesday, May 6, 2014 - 11:20pm

EXHIBIT A
NOTICE OF INTENT TO ISSUE BONDS TO FINANCE
CERTAIN HEALTH AND SAFETY AND CAPITAL PROJECTS
INDEPENDENT SCHOOL DISTRICT NO. 256
(RED WING PUBLIC SCHOOLS)
STATE OF MINNESOTA
NOTICE IS HEREBY GIVEN that Independent School District No. 256 (Red Wing Public Schools), State of Minnesota (the "District"), intends to issue general obligation bonds (the "Bonds") in the total principal amount of $1,660,000 pursuant to Minnesota Statutes, Sections 123B.59 and 123B.62, and Chapter 475, as amended.
A portion of the proceeds of the Bonds (the "Alternative Facilities Portion") in the principal amount of $735,000 will be used to fund the costs of the following health and safety projects approved by the School Board and related financing costs, subject to the approval of the Commissioner of Education:
• indoor air quality improvements at the Prairie Island Ice Arena
A portion of the proceeds of the Bonds (the "Capital Facilities Portion") in the principal amount of $925,000 will be used to fund the costs of the following capital improvements approved the School Board and related financing costs, subject to the approval of the Commissioner of Education:
• track repairs and tennis court repairs/rebuilding
Pursuant to Minnesota Statutes, Section 123B.62, as amended, the Bonds will be finally authorized for issuance, subject to the approval of the Commissioner of Education, unless a petition calling for a referendum on the question of whether to issue said Capital Facilities Portion, signed by more than fifteen percent (15%) of the registered voters of the District, is filed with the School Board within thirty (30) days of the date of the School Board\'s adoption of the Resolution. A petition must be in the form required by law. The minimum number of valid signatures for such a petition shall be determined as of the last day before the petition is filed with the School Board.
The total amount of outstanding indebtedness of the District as of April 1, 2014 is $11,700,000. If the proposed Bonds are issued, the total indebtedness of the District would be $13,360,000.
Dated: April 21, 2014
BY ORDER OF THE SCHOOL BOARD
/s/ Michael Christensen____ School District Clerk Independent School District No. 256 (Red Wing Public Schools) State of Minnesota
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