NOTICE OF SALE
BYRON-BERGEN CENTRAL SCHOOL DISTRICT
GENESEE, MONROE & ORLEANS COUNTIES, NEW YORK
$687,350 Bond Anticipation Notes, 2016
Telephone (315-752-0051, Ext. 1), telefax (315-752-0057), written proposals or electronic bids will be received and
considered by the undersigned President of the Board of Education, of the Byron-Bergen Central School District, Genesee,
Monroe & Orleans Counties, New York, at the offices of Fiscal Advisors & Marketing, Inc., 120 Walton Street • Suite 600,
Syracuse, New York 13202 until 11:00 o’clock A.M., Prevailing Time, on the 4th day of October, 2016 for the purchase in
Federal Funds, at not less than par and accrued interest of $687,350 Bond Anticipation Notes, 2016 (the "Notes") to be dated
October 13, 2016 and maturing October 13, 2017, with interest payable at maturity. The Notes are to be issued without option
of prior redemption. Electronic bids may be submitted via iPreo’s Parity Electronic Bid Submission System (“Parity”). See
“Submission of Bids” herein.
PROCEDURES FOR BIDDING
Submission of Bids
Bids may be submitted electronically via Parity in accordance with this Notice of Sale, until the time specified herein. No
other form of electronic bidding services will be accepted. No bid will be received after the time for receiving bids specified
above. Bids may also be submitted by telephone at (315-752-0051 Ext. 1) or by facsimile at (315) 752-0057. Once the bids
are communicated via telephone, facsimile or electronically via Parity to the District, each bid will constitute an irrevocable offer
to purchase the Notes pursuant to the terms therein provided.
The timely delivery of all proposals submitted by facsimile transmission (FAX) must be in legible and completed form,
signed by an authorized representative of the bidder(s), and shall be the sole responsibility of the bidder(s). The District shall not
be responsible for any errors and/or delays in transmission and/or receipt of such bids, mechanical or technical failures or
disruptions, or any omissions or irregularities in any bids submitted in such manner.
Registration to Bid
Prospective bidders wishing to submit electronic bids must be contracted customers of Parity. Prospective bidders who are
not customers of Parity may call (212) 404-8102 to become a customer. By submitting an electronic bid for the Notes, a bidder
represents and warrants to the District that such bidder's bid for the purchase of the Notes is submitted for and on behalf of such
prospective bidder by an officer or agent who is duly authorized to bind the bidder to a legal, valid and enforceable contract for
the purchase of the Notes.
If any provisions of this Notice of Sale shall conflict with information provided by Parity, as approved provider of electronic
bidding services, this Notice of Sale shall control. Further information about Parity, including any fee charged, may be obtained
from Parity at (212) 404-8102.
The time maintained by Parity shall constitute the official time with respect to all bids submitted.
Disclaimer
Each prospective bidder who wishes to submit electronic bids shall be solely responsible to register to bid via Parity. Each
qualified prospective bidder shall be solely responsible to make necessary arrangements to access Parity for purposes of
submitting its bid in a timely manner and in compliance with the requirements of this Notice of Sale. Neither the District nor
Parity shall have any duty or obligation to undertake such registration to bid for any prospective bidder or to provide or assure
such access to any qualified prospective bidder, and neither the District nor Parity shall be responsible for a bidder's failure to
register to bid or for proper operation of, or have any liability for any delays or interruptions of, or any damages caused by
Parity. The District is using Parity as a communications mechanism, and not as the District’s agent, to conduct the electronic
bidding for the District’s Notes. The District is not bound by any advice or determination of Parity as to whether any bid
complies with the terms of this Notice of Sale and in particular the “Bidding Rules” set forth herein. All costs and expenses
incurred by prospective bidders in connection with their registration and submission of bids via Parity are the sole responsibility
of the bidders, and the District is not responsible, directly or indirectly, for any such costs or expenses. If a prospective bidder
encounters any difficulty in registering to bid, or submitting or modifying a bid for the Notes, it should telephone Parity and
notify District’s Financial Advisor at (315) 752-0051 ext. 1 (provided that the District shall have no obligation to take any action
whatsoever upon receipt of such notice). After receipt of bids is closed, the District through Parity or telephone will indicate the
apparent successful bidder. Such message is a courtesy only for viewers, and does not constitute the award of the Notes. The
Parity bids will be compared with bids received outside of Parity, if any, before the award is made. Each bid will remain subject
to review by the District to determine its net interest cost and compliance with the terms of this Notice of Sale.
THE NOTES
The Notes will be valid and legally binding general obligations of the District, all the taxable real property within which will
be subject to the levy of ad valorem taxes to pay the Notes and interest thereon, without limitation as to rate or amount.
However, the power of the District to levy unlimited real estate taxes on all real property within the District may be subject to
certain statutory limitations imposed by Chapter 97 of the 2011 Laws of New York.
The Notes are issued pursuant to the Constitution and statutes of the State of New York, including among others, the
Education Law and the Local Finance Law, in anticipation of the sale of serial bonds to finance the cost of the acquisition of
school buses. The proceeds of the Notes along with $211,217 of available funds will partially redeem and renew $614,067 bond
anticipation notes currently maturing October 14, 2016 and will provide $284,500 of new monies.
Each purchaser shall have the option of having the Notes issued registered in the name of the purchaser or in the form of
book-entry-only notes registered in the name of Cede & Co., as nominee for The Depository Trust Company (DTC). Paying
agent fees, if any, are to be paid by the purchaser. Notes issued registered in the name of the purchaser will be issued in the
denomination of $5,000 each or multiples thereof, except for one necessary odd denomination as may be designated by the
purchaser(s).
The District will act as Paying Agent for the Notes. The District’s contact information is as follows: Mr. William E.
Snyder, Jr., School Business Administrator, 6917 West Bergen Road, Bergen, New York 14416-9747, telephone: 585.494.1220,
Ext. 2429, telefax: 585.494.2613, email address: wsnyder@bbschools.org.
Each bid must be for all of the Notes of said Notes and state a single rate of interest therefor in a multiple of 1/100 or 1/8
of one per centum per annum. Interest will be calculated on the basis of a 360-day year and a 30-day month. Each bid must be
for not less than the par value of the Notes bid for. All or none bids will be rejected. Conditional bids will be rejected, including
any bid subject to credit approval.
The Notes will be awarded to the bidder offering the lowest net interest cost, that being the rate of interest which will
produce the least interest cost over the life of the Notes, after accounting for the premium offered, if any. In the event bids
offering the same lowest net interest cost are received, an award will be made by lot from among such lowest bids. The right is
reserved by the District to reject any and all bids and any bid not complying with this Notice of Sale will be rejected.
The Notes will be delivered through the facilities of DTC located in Jersey City, New Jersey or as may be agreed with the
purchaser on or about October 13, 2016. The purchase price of the Notes shall be paid in Federal Funds or other funds available
for immediate credit on the delivery date.
If the purchaser notifies Bond Counsel by 4:00 o'clock P.M., Prevailing Time on the date of sale, such Notes may be issued
in the form of book-entry-only notes, in denominations corresponding to the aggregate principal amount for each Note bearing
the same rate of interest and CUSIP number. In the event that the purchaser chooses such DTC registered notes, as a condition
to delivery of the Notes, the successful bidder will be required to cause such note certificates to be (i) registered in the name of
Cede & Co., as nominee of DTC, New York, New York ("DTC"), and (ii) deposited with DTC to be held in trust until maturity.
DTC is an automated depository for securities and clearinghouse for securities transactions, and will be responsible for
establishing and maintaining a book-entry system for recording the ownership interests of its participants, which include certain
banks, trust companies and securities dealers, and the transfers of the interests among its participants. The DTC participants will
be responsible for establishing and maintaining records with respect to the Notes. Individual purchases of beneficial ownership
interests in the Notes may only be made through book entries (without certificates issued by the District) made on the books and
records of DTC (or a successor depository) and its participants, in denominations of $5,000 or integral multiples thereof, except
for one necessary odd denomination. Principal of and interest on the Notes will be payable by the District or its agent by wire
transfer or in clearinghouse funds to DTC or its nominee as registered owner of the Notes. Transfer of principal and interest
payments to participants of DTC will be the responsibility of DTC; transfer of principal and interest payments to beneficial
owners by participants of DTC will be the responsibility of such participants and other nominees of beneficial owners. The
District will not be responsible or liable for payments by DTC to its participants or by DTC participants to beneficial owners or
for maintaining, supervising or reviewing the records maintained by DTC, its participants or persons acting through such
participants.
CUSIP identification numbers will be printed on the Notes if the purchaser provides Bond Counsel with such numbers by
telefax or any other mode of written communication (verbal advice will not be accepted) by 5:00 o'clock P.M. on the day
following the date of sale of the Notes, but neither the failure to print such number on any Note nor any error with respect thereto
shall constitute cause for a failure or refusal by the purchaser thereof to accept delivery of and pay for the Notes in accordance
with the terms of the purchase contract. All expenses in relation to the printing of CUSIP numbers on the Notes shall be paid for
by the District, provided, however, that the CUSIP Service Bureau charge for the assignment of said numbers shall be the
responsibility of and shall be paid for by the purchaser.
As a condition to the purchaser's obligation to accept delivery of and pay for the Notes, such purchaser will be furnished,
without cost, the following, dated as of the date of the delivery of and payment for said Notes: (i) a Closing Certificate,
constituting a receipt for the note proceeds and a signature certificate, which will include a statement that no litigation is pending,
or to the knowledge of the signers, threatened affecting the Notes, (ii) an arbitrage certificate executed on behalf of the District
which will include, among other things, covenants, relating to compliance with the Internal Revenue Code of 1986 (the "Code"),
with the owners of the Notes that the District will, among other things, (A) take all actions on its part necessary to cause interest
on the Notes not to be includable in the gross income of the owners thereof for Federal income tax purposes, including without
limitation, restricting, to the extent necessary, the yield on investments made with the proceeds of the Notes and investment
earnings thereon, making required payments to the Federal Government, if any, and maintaining books and records in a specified
manner, where appropriate, and (B) refrain from taking any action which would cause interest on the Notes to be includable in
the gross income of the owners thereof for Federal income tax purposes, including, without limitation, refraining from spending
the proceeds of the Notes and investment earnings thereon on certain specified purposes; and (iii) the approving legal opinion as
to the validity of the Notes of Lacy Katzen LLP, Rochester, New York, Bond Counsel.
The Notes will be designated "qualified tax-exempt obligations" pursuant to Section 265(b)(3) of the Code, by
certificate of the School District’s Chief Fiscal Officer.
In the event of a default in the payment of the principal of and/or interest on the Notes, the State Comptroller is required to
withhold, under certain conditions prescribed by Section 99-b of the State Finance Law, state aid and assistance to the District
and to apply the amount thereof so withheld to the payment of such defaulted principal and/or interest, which requirement
constitutes a covenant by the State with the holders from time to time of the Notes.
Following the sale of the Notes, the successful bidder will be required to provide to the District certain information
regarding the reoffering price to the public of the Notes. The successful bidder shall furnish to the District a certificate
acceptable to Bond Counsel, dated as of the day of closing for the Notes stating the initial prices at which a bona fide public
offering of all of the Notes was made and stating that 10% or more of the Notes were in fact sold to the public (excluding bond
houses, brokers and other intermediaries) at or below such initial respective public offering prices. Such certificate shall state
that it is made on the best knowledge, information and belief of the successful bidder after appropriate investigation.
Any attempt to bid with alterations to the specific language contained in the Notice of Sale which sets forth the documents
that will be delivered to the Purchaser at closing will be considered a failure to execute a proper bid as specified in this Notice of
Sale and will be treated as a violation of applicable competitive bidding regulations and therefore be treated as a private
placement. The bid of such appropriate party will be treated as a non-conforming bid which will be rejected.
There is no offering document which accompanies this Notice of Sale. Rule 15c2-12 promulgated by the U.S. Securities
and Exchange Commission does not require the distribution of an offering document to investors in connection with the sale of
the municipal securities offered through this Notice of Sale.
BYRON-BERGEN CENTRAL SCHOOL DISTRICT
Dated: September 21, 2016
DEBRA LIST
PRESIDENT OF THE BOARD OF EDUCATION AND
CHIEF FISCAL OFFICER
PROPOSAL FOR NOTES
Ms. Debra List
President of the Board of Education
Byron-Bergen Central School District
Genesee, Monroe & Orleans Counties, New York
c/o Fiscal Advisors & Marketing, Inc.
120 Walton Street • Suite 600
Syracuse, New York 13202
Telephone # 315-752-0051, Ext 1
Telefax # 315-752-0057
SALE DATE: October 4, 2016
11:00 o’clock A.M., Prevailing Time
BYRON-BERGEN CENTRAL SCHOOL DISTRICT
GENESEE, MONROE & ORLEANS COUNTIES, NEW YORK
$687,350 Bond Anticipation Notes, 2016
Date: October 13, 2016
Maturity: October 13, 2017
Amount
Bid 1
(1)
$
Interest
Rate
Premium
%
$
Net
Interest Cost (1)
%
The computation of the net interest cost is made as provided in the Notice of Sale relating to the Notes referenced above, but
does not constitute any part of the foregoing Proposal for the purchase of the Notes therein described.
Please select one of the following (if no option is selected, the book-entry-only option will be assumed to have been selected by
the purchaser):
 Book-Entry-Only registered to Cede & Co.
 Registered to Purchaser (“Local” Closing)
Signature:
Name of Bidder:
Bank or Institution:
Address:
Telephone (Area Code):
Email Address:
Fax (Area Code):
Bids may be submitted electronically via Parity in accordance with the Notice of Sale, until the time specified herein. No
other form of electronic bidding services will be accepted. No bid will be received after the time for receiving bids
specified above. Bids may also be submitted by telephone (315-752-0051, Ext. 1) or telefax (315-752-0057).