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The Harrisburg University of Science and Technology (The “University”), and from Wire Transferattherequestofholdersleast$1,000,000Aggregateprincipalamountsuchbonds

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The Harrisburg University of Science and Technology (The “University”), and from Wire Transferattherequestofholdersleast$1,000,000Aggregateprincipalamountsuchbonds PRELIMINARY LIMITED OFFERING STATEMENT DATED JUNE 21, 2017 NEW ISSUE – BOOK ENTRY ONLY RATING: “BB” See: “RATING” herein In the opinion of Bond Counsel, under existing law, and assuming continuing compliance with the requirements of federal tax laws, interest on the Bonds is excludable from gross income for purposes of federal income tax. Interest on the Bonds is not an item of tax preference for purposes of the federal individual and corporate alternative minimum taxes; however, such interest is includable in adjusted current earnings for purposes of the federal alternative minimum tax imposed on certain corporations. Bond Counsel is also of the opinion that under the laws of the Commonwealth of Pennsylvania as presently enacted and construed, the Bonds are exempt from personal property taxes in the Commonwealth of Pennsylvania and the interest on the Bonds is exempt from the Commonwealth of Pennsylvania personal income tax and the Commonwealth of Pennsylvania corporate net income tax. See “TAX MATTERS” herein. $56,500,000* DAUPHIN COUNTY GENERAL AUTHORITY University Revenue Bonds Series of 2017 (The Harrisburg University of Science and Technology Project) Dated: Date of Delivery Due: October 15, as shown on inside cover The Dauphin County General Authority (the “Authority”) will issue $56,500,000* aggregate principal amount of its University Revenue Bonds Series of 2017 (The Harrisburg University of Science and Technology Project) (the “Bonds”) in denominations of $100,000 and integral multiples of $5,000 in excess thereof. The Bonds will initially be registered in the name of Cede & Co. as the registered owner and nominee for The Depository Trust Company (“DTC”), New York, New York. The principal of and premium, if any, on the Bonds will be payable to the registered owner at the designated corporate trust agency office of The Bank of New York Mellon Trust Company, N. A., as trustee (the “Trustee”) for the Bonds, or the designated corporate trust office of any successor Trustee. The Bonds will bear interest at the rates shown on the inside front cover hereof. Interest on the Bonds will be payable semiannually on April 15 and October 15, commencing October 15, 2017, in each case by the Trustee to the registered owners by check, or by wire transfer at the request of holders of at least $1,000,000 aggregate principal amount of such Bonds. The Bonds are payable solely from, and are secured by an assignment and a pledge of, payments and other revenues to be received by the Authority under a Loan Agreement between the Authority and The Harrisburg University of Science and Technology (the “University”), and from Bond proceeds and other moneys pledged to or held by the Trustee under the Trust Indenture between the Authority and the Trustee pursuant to which the Bonds are issued and secured. See “SECURITY AND SOURCES OF PAYMENT FOR THE BONDS” herein. The proceeds of the Bonds will be applied to pay the costs of a project on behalf of the University consisting of: (i) the current refunding of the 2007B Bonds (defined herein), (ii) funding a debt service reserve or other necessary reserve funds or accounts and (iii) payment of the costs and expenses of issuing the Bonds. The Bonds are subject to redemption prior to maturity as described herein. See “THE BONDS-Redemption Prior to Maturity” herein. Investment in the Bonds involves a significant degree of risk and is speculative in nature, as described under “BONDHOLDERS’ RISKS” herein and under other sections of this Limited Offering Statement. THE BONDS MAY BE PURCHASED ONLY BY “ACCREDITED INVESTORS” OR “QUALIFIED INSTITUTIONAL BUYERS” AS SUCH TERMS ARE DEFINED HEREIN. SEE “INVESTOR SUITABILITY STANDARDS” HEREIN. The Bonds are limited obligations of the Authority and are payable solely from payments required to be made by the University under the Loan Agreement and other sources described herein. Neither the credit nor the taxing power of Dauphin County, the Commonwealth of Pennsylvania or of any political subdivision thereof is pledged for the payment of the principal or redemption price of or interest on the Bonds, nor shall the Bonds be or be deemed a general obligation of the Authority or an obligation of Dauphin County, the Commonwealth of Pennsylvania or any political subdivision thereof. The Authority has no taxing power. This cover page contains certain information for quick reference only. It is not a summary of the issue. Investors must read the entire Limited Offering Statement to obtain information essential to making an informed investment decision. The Bonds are offered when, as and if issued by the Authority, subject to prior sale, withdrawal or modification of the offer without any notice, and to the approving opinion of McNees Wallace & Nurick LLC, Harrisburg, Pennsylvania, Bond Counsel. Certain legal matters will be passed upon by Guy P. Beneventano, Esquire, Linglestown, Pennsylvania, as counsel to the Authority; by McNees Wallace & Nurick LLC, Harrisburg, Pennsylvania, as counsel to the University; and by Fox Rothschild LLP, Philadelphia, Pennsylvania, as counsel to Underwriter. It is expected that Bonds in definitive form will be delivered to DTC in New York, New York, on or about _______________, 2017. Dated: ______________, 2017 THIS IS A PRELIMINARY LIMITED OFFERING STATEMENT AND IS NOT YET FINALLY ADOPTED. The ADOPTED. sale of the Bonds is subject to the terms and conditions specified inFINALLY theYET All OfficialAND information NoticeIS containedNOT hereinof Sale. is subject to LIMITED OFFERING STATEMENT PRELIMINARY A THIS IS solicitation an offer, such in which jurisdiction in any Bonds of the sale be any there shall nor buy, to offer an of solicitation the or sell to offer an constitute Statement Offering Limited Preliminary this shall circumstances no Under amendment. and completion or sale would be unlawful. * Preliminary, subject to change. $56,500,000* DAUPHIN COUNTY GENERAL AUTHORITY University Revenue Bonds Series 2017 (The Harrisburg University of Science and Technology Project) MATURITY SCHEDULE † The CUSIP (Committee on Uniform Securities Identification Procedures) numbers shown above have been assigned by an organization not affiliated with the Authority, the University, the Underwriter or the Trustee, and such parties are not responsible for the selection or use of the CUSIP numbers. The CUSIP numbers are included solely for the convenience of holders and no representation is made as to the correctness of the CUSIP numbers printed above. CUSIP numbers assigned to the Bonds may be changed during the term of the Bonds based on a number of factors including but not limited to the refunding or defeasance of such issues or the use of secondary market financial products. None of the Authority, the University, the Underwriter or the Trustee has agreed to, nor is there any duty or obligation to, update this Limited Offering Statement to reflect any change or correction in the CUSIP numbers printed above. _________________________ * Preliminary, subject to change. i IN CONNECTION WITH THIS OFFERING, THE UNDERWRITER MAY OVER-ALLOT OR EFFECT TRANSACTIONS THAT STABILIZE OR MAINTAIN THE MARKET PRICE OF THE BONDS AT A LEVEL ABOVE THAT WHICH MIGHT OTHERWISE PREVAIL IN THE OPEN MARKET. SUCH STABILIZING, IF COMMENCED, MAY BE DISCONTINUED AT ANY TIME WITHOUT PRIOR NOTICE. __________________________________________ No dealer, broker, salesperson or other person has been authorized by the Authority, the University or the Underwriter to give any information or to make any representations with respect to the Bonds other than those in this Limited Offering Statement, and if given or made, such other information or representations must not be relied upon as having been authorized by any of the foregoing. This Limited Offering Statement does not constitute an offer to sell or the solicitation of an offer to buy, and there shall not be a sale of the Bonds by any person in any jurisdiction in which it is unlawful for such person to make such offer, solicitation or sale. The information set forth herein has been obtained from the Authority, the University, The Depository Trust Company and other sources that are believed to be reliable, but is not guaranteed as to accuracy or completeness by, and is not to be construed as a representation by the Authority (except for the information under the caption “THE AUTHORITY” and information pertaining to the Authority under the caption “LITIGATION”) or the Underwriter or, as to information from other sources, by the Authority or the University. The information and expressions of opinion herein are subject to change without notice, and neither the delivery of this Limited Offering Statement nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the matters described herein since the date hereof. The Underwriter has reviewed the information in this Limited Offering Statement pursuant to its responsibilities to investors under the federal securities laws, but the Underwriter does not guarantee the accuracy or completeness of such information. __________________________________________ THE BONDS HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 NOR HAS THE INDENTURE BEEN QUALIFIED UNDER THE TRUST INDENTURE ACT OF 1939, AS AMENDED, IN RELIANCE UPON EXEMPTIONS CONTAINED IN SUCH ACTS. THE REGISTRATION OR QUALIFICATION OF THE BONDS IN ACCORDANCE WITH APPLICABLE PROVISIONS OF SECURITIES LAWS OF THE STATES IN WHICH THE BONDS HAVE BEEN REGISTERED OR QUALIFIED AND THE EXEMPTION FROM REGISTRATION OR QUALIFICATION IN THE OTHER STATES CANNOT BE REGARDED AS A RECOMMENDATION THEREOF. NEITHER THESE STATES NOR ANY OF THEIR AGENCIES HAVE PASSED UPON THE MERITS OF THE BONDS OR THE ACCURACY OR COMPLETENESS OF THIS LIMITED OFFERING STATEMENT. CAUTION REGARDING FORWARD-LOOKING STATEMENTS IN THIS LIMITED OFFERING STATEMENT Certain statements included in this Limited Offering Statement and Appendix A attached hereto constitute “forward- looking statements.” Such statements generally are identifiable by the terminology used, such as “plan,” “expect,” “estimate,” “project,” “budget,” “forecast,” “assumes” or other similar words or expressions.
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