Transaction Overview

Janney Montgomery Scott served as the sole underwriter for a $6,005,000 General Obligation Bond issue for the Deer Lakes School District. This issue carried an underlying rating of A+ (stable) from Standard & Poor’s and was insured by Build America Mutual. The bond proceeds will be used to fund the costs of the acquisition and construction of energy-savings equipment, upgrades, and improvements to various District facilities.

The 2023 Bonds represent Janney’s eighth sole-managed series of bonds sold for the District since 2011. These eight series, including new money and refunding issues as well as tax-exempt and taxable issues total over $90 million.

About Deer Lake School District

Deer Lakes School District is located in the northeastern portion of Allegheny County, twenty miles northeast of the City of Pittsburgh, and is comprised of the Townships of East Deer, Frazer and West Deer. The District encompasses a land area of 41 square miles and serves a 2020 U.S Census population of 14,913.