NOTICE IS HEREBY GIVEN that at a Public Meeting of the Borough Council of the Borough of Tamaqua to be held on Thursday, September 10, 2025, at 7:00 p.m. in the Meeting Room in the Borough Hall, 320 E. Broad Street, Tamaqua, PA, Council will consider and take final action upon an Ordinance pursuant to the Local Government Unit Debt Act, 53 Pa.C.S.A. Section 8001 et seq., which will, among other things, authorize the incurring of non-electoral debt through the issuance of the Borough's Tax-Exempt General Obligation Note to People Security and Trust Company Bank in the aggregate principal amount of $1,675,000.00 (the "Ordinance"). The title (which summarizes the provisions contained in the Ordinance) is as follows: "AN ORDINANCE OF THE BOROUGH COUNCIL OF THE BOROUGH OF TAMAQUA DETERMINING TO INCUR NON-ELECTORAL DEBT PURSUANT TO THE LOCAL GOVERNMENT UNIT DEBT ACT; DETERMINING THAT SUCH DEBT SHALL BE EVIDENCED BY A TAX-EXEMPT PROMISSORY NOTE TO BE AUTHORIZED AND ISSUED IN THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF $1,675,000.00 (THE "NOTE") BY THE BOROUGH OF TAMAQUA (THE "BOROUGH") TO PEOPLE SECURITY AND TRUST COMPANY BANK WITH THE PROCEEDS OF THE NOTE, AND ANY INTEREST EARNED THEREON, TO BE USED AS FOLLOWS: (1) FUNDING THE CONSTRUCTION OF A NEW BOROUGH POLICE STATION; AND (2) PAYING COSTS, FEES AND EXPENSES WITH RESPECT TO THE FOREGOING PURPOSES AND THE FINANCING (THE "PROJECT"); PROVIDING THAT SUCH NOTE, WHEN ISSUED, SHALL BE A GENERAL OBLIGATION NOTE OF THIS BOROUGH AND SHALL BE FULLY REGISTERED; DESCRIBING THE PROJECT FOR WHICH SAID DEBT IS TO BE INCURRED; DETERMINING THAT SAID NOTE SHALL BE SOLD AT PRIVATE SALE AND THAT A PRIVATE SALE BY NEGOTIATION IS IN THE BEST FINANCIAL INTEREST OF THIS BOROUGH; ACCEPTING A PROPOSAL FOR PURCHASE OF SAID NOTE AND AWARDING SUCH NOTE AND SETTING FORTH RELATED PROVISIONS; DETERMINING THE USEFUL LIFE OF THE PROJECT BEING FINANCED; FIXING THE SUBSTANTIAL FORM, DENOMINATIONS, DATE, MATURITY DATE, INTEREST RATE, INTEREST PAYMENT DATES, REGISTRATION, PLACE OF PAYMENT OF PRINCIPAL AND INTEREST, REDEMPTION PROVISIONS AND THE TAX-FREE PROVISIONS OF SUCH NOTE; SETTING FORTH THE FORM OF REGISTRATION AND ASSIGNMENT AND PAYING AGENT'S CERTIFICATES APPERTAINING TO SUCH NOTE; AUTHORIZING AND DIRECTING EXECUTION, ATTESTATION AND AUTHENTICATION OF SUCH NOTE; PROVIDING COVENANTS RELATED TO DEBT SERVICE APPLICABLE TO SUCH NOTE AS REQUIRED BY SUCH ACT AND THE PENNSYLVANIA CONSTITUTION AND PLEDGING THE FULL FAITH, CREDIT AND TAXING POWER OF THIS BOROUGH IN SUPPORT THEREOF; SETTING FORTH THE DEBT SERVICE RELATED TO SUCH NOTE; CREATING A SINKING FUND IN CONNECTION WITH SUCH NOTE AS REQUIRED BY SUCH ACT; APPOINTING A SINKING FUND DEPOSITORY AND AUTHORIZING A CONTRACT WITH A BANK AS SUCH DEPOSITORY; PROVIDING A COVENANT TO INSURE PROMPT AND FULL PAYMENT OF ALL OBLIGATIONS OF SUCH NOTE WHEN DUE; AUTHORIZING AND DIRECTING THE PROPER OFFICERS OF THE BOROUGH: (A) TO PREPARE, CERTIFY AND FILE THE DEBT STATEMENT AND BORROWING BASE CERTIFICATE REQUIRED BY SECTION 8110 OF THE DEBT ACT; (B) TO EXECUTE, ATTEST, SEAL AND DELIVER THE NOTE; APPROVING THE FORM OF THE NOTE; SPECIFYING THE AMOUNT OF THE NOTE AND THE SOURCES OF PAYMENT OF SUCH NOTE; AUTHORIZING AND DIRECTING THE PREPARATION, EXECUTION AND DELIVERY OF ALL OTHER REQUIRED DOCUMENTS BY THE PROPER OFFICERS OF THE BOROUGH AND AUTHORIZING SUCH OFFICERS TO TAKE ALL OTHER REQUIRED, NECESSARY OR DESIRABLE RELATED ACTION IN CONNECTION WITH THE PROJECT AND THE EXECUTION AND DELIVERY OF THE NOTE; DECLARING THAT THE DEBT TO BE INCURRED IS WITHIN THE LIMITATION IMPOSED BY SUCH ACT UPON THE INCURRING OF SUCH DEBT BY THIS BOROUGH; SETTING FORTH CERTAIN COVENANTS RELATING TO THE NON-ARBITRAGE STATUS OF SUCH NOTE; DESIGNATING THE NOTE AS A QUALIFIED TAX EXEMPT OBLIGATION OF THIS BOROUGH UNDER THE INTERNAL REVENUE CODE AND MAKING CERTAIN CERTIFICATIONS CONSISTENT THEREWITH; MAKING THE NOTE SUBJECT TO SUCH ACT AND OTHER APPLICABLE LAWS OF THE COMMONWEALTH; PROVIDING FOR THE EFFECTIVENESS OF THIS ORDINANCE; PROVIDING FOR THE SEVERABILITY OF PROVISIONS OF THIS ORDINANCE; AND PROVIDING FOR THE REPEAL OF ALL INCONSISTENT ORDINANCES OR RESOLUTIONS OR PARTS OF ORDINANCES OR RESOLUTIONS." Additions to or omissions from the Ordinance, as proposed, including with respect to the Bonds, the price paid, interest rate and debt service appropriations and any amendments thereto, will be supplied at the time of adoption of the Ordinance, if the Borough shall determine to proceed. A complete copy of the full proposed text of this Ordinance may be examined by any citizen of the Borough at Borough Hall, 320 E. Broad Street, Tamaqua, PA, on any business day (excluding Saturdays and Sundays) from 9:00 a.m. to 4:00 p.m. prevailing time. BOROUGH COUNCIL BOROUGH OF TAMAQUA COUNTY OF SCHUYLKILL, PENNSYLVANIA Sep 12