The Independent-News, Volume 121, Number 4, Walkerton, St. Joseph County, 8 June 1995 — Page 6

6

- THE INDEPENDENT-NEWS - JUNE 8, 1995

[ LEGAL NOTICES

NOTICE OF INTENT TO SELL $8,750,000 JOHN GLENN SCHOOL CORPORATION SCHOOL BUILDING CORPORATION FIRST MORTGAGE BONDS, SERIES 1995 Upon not less than twenty-four (24) hours’ notice given by telephone by or on behalf of the John Glenn School Corporation School Building Corporation (the “Corporation”) prior to August 1, 1995, the Corporation will receive sealed proposals at the office of the Corporation’s Financial Advisor, H. J. Umbaugh & Associates, 1500 Oak Road, Plymouth, Indiana, and shall consider each proposal for the purchase of first mortgage bonds of the Corporation designated as “John Glenn School Corporation School Building Corporation First Mortgage Bonds, Series 1995” (the “Bonds”), in the aggregate principal amount of Eight Million Seven Hundred Fifty Thousand Dollars ($8,750,000.00). Interest on the Bonds shall be calculated on the basis of twelve (12) thirty (30)-day months for a three hundred and sixty (360)-day year and will be payable commencing on January 1,1996, and on each July 1 and January 1 thereafter, by check or draft mailed to the person in whose name such Bond is registered at the close of business on the last day of the month next preceding the interest payment date or by wire transfer on such interest payment date to holders of One Million and 00/100 (1,000,000.00) or more of the Bonds. Principal and premium, if any, on the Bonds will be payable at the principal corporate trust office of Valley American Bank and Trust Company, South Bend, Indiana, as Trustee for the Bonds. The Bonds will be dated and bear interest from the first day of the month in which the Bonds are sold or delivered. The Bonds will mature on January 1 and July 1 in the amopunts set forth below: MATURITIES Principal Due Principal Due Amount January 1 Amount July 1 $ 90,000 1997 75,000 1997 80,000 1998 120,000 1998 125,000 1999 170,000 1999 175,000 2000 175,000 2000 180,000 2001 190,000 2001 195,000 2002 200,000 2002 210,000 2003 215,000 2003 220,000 2004 240,000 2004 250,000 2005 250,000 2005 260,000 2006 265,000 2006 275,000 2007 280,000 2007 290,000 2008 295,000 2008 305,000 2009 315,000 2009 325,000 2010 335,000 2010 345,000 2011 355,000 2011 370,000 2012 380,000 2012 385,000 2013 395,000 2013 415,000 2014 At the option of the successful bidder for the Bonds, all or a portion of the Bonds may be aggregated into one or more term bonds which option must be set forth in the Official Bid Form. Bonds maturing on or after January 1, 2005, are redeemable prior to maturity on July 1, 2004, or any date thereafter, at the option of the Corporation, ion whole or in part in order of maturity determined by the Corporation and by lot within any such maturity or maturities, at a price equal to the applicable percentage set our below of the principal amount of the Bonds so redeemed plus interest accrued on the Bonds so redeemed to the date fixed for redemption: Redemption Period Redemption (Both Dates Inclusive] Price July 1, 2004 through June 30, 2005 101.5% July 1, 2005 through June 30, 2006 101.0% July 1, 2006 and thereafter Prior to maturity 100.0% Any person interested in submitting a bid for the Bonds must furnish in writing to the Board of Directors of the Corporation, c/o

the Corporation’s Financial Advisor, H. J. Umbaugh & Associates, 1500 Oak Road, Plymouth, Indiana 46563, telephone (219) 935-5178, on or before 4:00 p.m. (local time) June 2, 1995, the person’s name, address, and telephone number. The person may also furnish a telex number. The Corporation will cause each person so registered to be notified of the date and time bids will be received for the Bonds, not less than twenty-four (24) hours before the date and time of sale. Each bid must be for all of the Bonds and must state the rate or rates of interest therefor, not exceeding the following per annum rates: Bonds Maximum Per Maturing Annum Rate January 1,1997 through and Including July 1, 2002 5.60% January 1, 2003 through and including July 1, 2007 6.25% January 1, 2008 and thereafter 6.60% Such interest rate or rates must be in multiples of one-eighth (1/8) or one-twentieth (1/20) of one percent (1.00%). Bids specifying more than one interest rate must also specify the amount and maturities of the Bonds bearing each rate. All Bonds maturing on the same date shall bear the same rate of interest and the interest rate bid on any maturity of Bonds shall be equal to or greater than the interest rate bid on any and all prior maturities of Bonds. Subject to the provisions contained herein, the award will be made to the bidder offering the lowest interest cost, to be determined by computing the total on all Bonds from the date thereof to the date of maturity and deducting therefrom the premium bid, if any, or adding thereto the amount of any discount. Although not a term of sale, it is requested that each bid show the net dollar cost to final maturity and the net effective average interest rate on the entire issue. No conditional bid or bids for less than ninety-nine percent (99.0%) of the par amount of the Bonds plus accured interest at the rate or rates named to the date of delivery, will be considered. The right is reserved to reject any and all bids and to waive any informality in any bid. If no acceptable bid is received on the date fixed for sale of the Bonds, the sale may be continued from day to day thereafter without further advertisement for a period not to exceed thirty (30) days, but if so continued, no bid will be accepted which offers an interest cost which is equal to or higher than the best bid received at the time fixed for the sale. Each of the bids for the Bonds shall be sealed in an envelope marked * * Bid for John Glenn School Corporation School Building Corporation First Mortgage Bonds, Series 1995.” Each bid must be on the Official Bid Form approved by the Corporaiton, without additions, alterations, or erasures. Each bid must be accompanied by a certified or cashier’s check or a financial surety bond in the amount of Eighty-seven Thousand Five Hundred and 00/100 Dollars ($87,500.00) (the amount of such check or financial surety bond being referred to hereinafter as the “Deposit”). If a check is submitted, it must be drawn on a bank or trust company which is insured by the Federal Deposit Insurance Corporation. If a financial surety bond is used, it must be from an insurance company. In either case, the Deposit shall be made payable to “John Glenn School Corporation School Building Corporation” to be held uncashed in the case of a check or not drawn upon in the case of a financial surety bond as a quarantee of the good faith of the bidder. The checks of unsuccessful bidders will be returned immediately following the award of the Bonds. No interest will be allowed on any checks. If the bonds are awarded to a bidder who has submitted a financial surety bond to the Corpor-

ation, then such bidder must submit its Deposit to the Corporation in the form of a certified or cashier’s check (or a wire transfer consisting of immediately available funds to the Corporation as instructed by the Corporation) not later than 3:00 p.m. (local time) on the next business day following the award by the Corporation. If such check or wire transfer is not received by that time, the financial surety bond may be drawn upon by the School Corporation to satisfy the Deposit requirements. In the event the bidder to whom the Bonds are awarded shall fail or refuse to comply with the provisions of the bid and this notice, such check and the proceeds thereof shall become the property of the Corporation and shall be taken and considered as liquidated damages of the Corporation on account of such failure or refusal. The successful bidder will be required to make payment for the Bonds in Federal Reserve or other immediately available funds and accept delivery of the Bonds within five (5) days after being notified that the Bonds are ready for delivery, at a location designated by the Corporation. Any premium bid must be paid in cash at the time of delivery as a part of the purchase price for the Bonds. The Bonds will be ready for delivery within forty-five (45) days after the date on which the award is made, and if not deliverable within that period, the successful bidder will be entitled to rescind the sale and the good faith check will be returned. Any notice of rescission must be in writing. At the request of the Corporation, the successful bidder shall furnish to the Corporation, a simultaneously with or before delivery of the Bonds, a certificate in form satisfactory to the Corporation regarding the initial public offering price of the Bonds. In addition, the successful bidder shall inform the Financial Advisor to the Corporation of such initial public offering price within twenty-four (24) hours after the date of sale. The Bonds will be designated “qualified tax-emempt obligations for purposes of Section 265(b) (3) of the Internal Revenue Code of 1986, as amended relating to the ability of financial institutions to deduct from income for federal income tax purposes, interest expense that is allocable to carrying and acquiring tax-exempt obligation. It is anticipated that CUSIP identification numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bonds or any error with respect thereto shall constitute cause for a failure or refusal by the successful bidder to accept delivery of any and pay for the bonds. The Corporation will pay the cost, if any, for printing the CUSIP identification numbers on the Bonds; the successful bidder will be responsible for paying any fees associated with securing the CUSIP identification number. At the time of delivery of the Bonds, the approving opinion of Baker & Daniels, bond counsel, of South Bend, Indiana, as to the validity of the Bonds, together with a transcript of Bond proceedings, and closing certificates in the customary form showing no litigation, will be furnished to the successful bidder at the expense of the Corporation. In addition, unless bond counsel is able, on the date of delivery, to render an opinion to the effect that, under existing law (1) the interest on the Bonds is excludable from gross income for federal income tax purposes and the Bonds are not “private activity bonds” under Section 141 of the Code, and (2) the interest on the Bonds is exempt from taxation in the State of Indiana for all purposes except the Indiana financial institutions tax and the Indiana inheritance tax, the successful bidder shall have the right to rescind the sale, and in such event the good faith deposit

will be returned. The sale of the Bonds will be designated as being exempt from the continuing disclosure requirements of paragraph (b) (5) of Rule 15c2-12 of the Securities and Exchange Commission (the “Rule”). Pursuant to paragraph (d) (2) of the Rule, the bonds will be designated as exempt from the continuing disclosure requirements because no obligated person (as such term is defined in the Rule) will be an obligated person with respect to more than $10,000,000 in aggregate principal amount of outstanding securities, including the Bonds, as of the date of issuance of the Bonds. Additionally, paragraph (d) (2) (ii) and (iii) of the Rule will not apply to the Bonds as provided by paragraph (g) of the Rule. The Corporation has authorized the preparation and distribution of a Preliminary Official Statement dated May 17, 1995, containing pertinent information relative to the Corporation and the Bonds. Such Preliminary Official Statement is in a form “deemed final” by the Corporation as of the date thereof pursuant to the Rule subject to completion as permitted by the Rule. For copies of the Preliminary Official Statement and the Official Bid Form or for any additional information prior to sale, any prospective purchaser is referred to the Financial Advisor to the Corporation, H. J. Umbaugh & Associates, 1500 Oak Road, Plymouth, Indiana 46563, telephone (219) 935-5178. The Preliminary Official Statement, when further supplemented by an addendum or addenda specifying the interest rates of the Bonds, and any other information referred to in paragraph (b) (1) of the Rule, shall constitute a “Final Official Statement” of the Corporation with respect to the Bonds, as that term is defined in the Rule. By awarding the Bonds to any underwriter or underwriting syndicate submitting an Official Bid Form

WO I W Jennings Insurance Agency, Inc. ^uto Home Life Major Medical hmmA Business Farm IRA’s ST' S \ Medicare Supplements yZ ML\ Disability / IM —Z ARGOS | N 46501 Rich Aman (219) 892-5249

BUSINESS OPPORTUNITY! ( At Koontz Lake On Highway 23 n BEAUTY SALON । / AND (I TANNING PARLOR ) OWNERS RETIRING - OPERATORS WILL STAY / ) All equipment and supplies included. Long term lease available./ a 5 years at this location. Well established. Room to expand.) ( THIS IS A MONEY MAKER (( 1

therefor, the Corporation agrees that, no more than seven (7) business days after the date of such award, it shall provide to the senior managing underwriter of the syndicate to which the Bonds are awarded up to one hundred twentyfive (125) copies of the Final Official Statement at the Corporation’s expense, with any additional copies to be provided at the expense of the underwriting syndicate. The Corporation designates the senior managing underwriter of the syndicate to which the Bonds are awarded as its agent for purposes of distributing copies of the Final Official Statemant to each Participating Underwriter. Any underwriter executing and delivering an Official Bid Form with respect to the Bonds agrees thereby that if its bid is accepted by the Corporation (i) it shall accept such designation and (ii) it shall enter into a contractual relationship with all Participating Underwriters of the Bonds for purposes of assuring the receipt by each such Participating Underwriter of the Final Official Statement. If bids are submitted by mail, they should be addressed to the Corporation, attention of David M. McKee, Superintendent, John Glenn School Corporation, 506 Roosevelt Road, Walkerton, Indiana 46574. Dated this Bth day of June, 1995. JOHN GLENN SCHOOL CORPORATION SCHOOL BUILDING CORPORATION /s/Thomas A. Fair, President Judy’s Beauty Salon 207 W. Center St. North Liberty 656-4491 MEN - WOMEN - CHILDREN Helene Curtis Uniperm — Spyro Perms Curling Iron & Hair Accessories — Jewelry Cosmetics — Ear Piercing — Perfumes GIGI Home Hair Removal Sukeska Hair Products WALK-INS WELCOME Open Monday. Thursday. Friday. Saturday Closed Days Tuesday 4 Wednesday Open Monday. Tuesday 4 Thursday Evenings Shut-In, Hospital & Nursing Home Service

I 7763 North State Road 23 ) (Koontz Lake) y I Walkerton, Indiana 46574 / I Ph0ne:(219)586-3106 )