Elgin Local School District

• Issue Currency: United States of America Dollars
• Announcement Date: 16-Jan-2018
• News: $2,040,000 School Facilities Construction and Improvement Bonds, Series 2010A (Federal Taxable Build America Bonds Direct Payment), dated August 31, 2010. Final maturity is December 1, 2030. $11,975,000 School Facilities Construction and Improvement Bonds, Series 2010B (Federal Taxable Qualified School Construction Bonds Direct Payment), dated August 31, 2010. Final maturity is August 31, 2027. The applicable base CUSIP number is 286461. In connection with the issuance of the above-captioned bonds (together, the ""Bonds"") of the Elgin Local School District, Marion, Delaware and Hardin Counties, Ohio (the ""School District""), S&P Global Ratings (""S&P""), a division of S&P Global Inc., assigned an underlying rating of ""A"" (the ""Underlying Rating"") on the Bonds. NOTICE IS HEREBY GIVEN that, since the issuance of the Bonds, S&P has made the following upgrades to the Underlying Rating: On October 21, 2013, S&P upgraded the Underlying Rating on the Bonds from ""A"" to ""A+""; and On January 12, 2018, S&P upgraded the Underlying Rating on the Bonds from ""A+"" to ""AA-"". A rating reflects only the view of the agency assigning such rating and is not a recommendation to buy, sell, or hold the Bonds. A rating may be changed at any time, and no assurance can be given that it will not be subject to further revision or withdrawn entirely by such rating agency if, in the judgment of the rating agency, circumstances so warrant. Any downward revision or withdrawal of a rating may have an adverse effect on the market price of the Bonds. The School District has issued this notice based upon the best information available to it. Any further explanation as to the significance of the Underlying Rating may be obtained only from S&P. For Bond Document please visit www.BondPDF.com

• Issue Currency: United States of America Dollars
• Announcement Date: 09-Jan-2018
• News: $2,040,000 School Facilities Construction and Improvement Bonds, Series 2010A (Federal Taxable Build America Bonds Direct Payment), dated August 31, 2010. Final maturity is December 1, 2030. $11,975,000 School Facilities Construction and Improvement Bonds, Series 2010B (Federal Taxable Qualified School Construction Bonds Direct Payment), dated August 31, 2010. Final maturity is August 31, 2027. The applicable base CUSIP number is 286461. In connection with the issuance of the above-captioned bonds (together, the ""Bonds"") of the Elgin Local School District, Marion, Delaware and Hardin Counties, Ohio (the ""School District""), S&P Global Ratings (""S&P""), a division of S&P Global Inc., assigned an underlying rating of ""A"" (the ""Underlying Rating"") on the Bonds. NOTICE IS HEREBY GIVEN that, since the issuance of the Bonds, S&P has made the following upgrades to the Underlying Rating: On October 21, 2013, S&P upgraded the Underlying Rating on the Bonds from ""A"" to ""A+""; and On January 12, 2018, S&P upgraded the Underlying Rating on the Bonds from ""A+"" to ""AA-"". A rating reflects only the view of the agency assigning such rating and is not a recommendation to buy, sell, or hold the Bonds. A rating may be changed at any time, and no assurance can be given that it will not be subject to further revision or withdrawn entirely by such rating agency if, in the judgment of the rating agency, circumstances so warrant. Any downward revision or withdrawal of a rating may have an adverse effect on the market price of the Bonds. The School District has issued this notice based upon the best information available to it. Any further explanation as to the significance of the Underlying Rating may be obtained only from S&P. For Bond Document please visit www.BondPDF.com