PRELIMINARY OFFICIAL STATEMENT DATED JANUARY 17, 2013 BOOK-ENTRY ONLY Rating: S & P “AA-” (See “Rating” herein) In the opinion of Bond Counsel, assuming compliance with certain covenants of the Ridley School District (the “School District”), interest on the Bonds is excluded from gross income of the owners of the Bonds for federal income tax purposes under existing law, as currently enacted and construed. Interest on the Bonds is not an item of tax preference for purposes of either individual or corporate alternative minimum tax. Interest on the Bonds may be indirectly subject to corporate alternative minimum tax and certain other taxes imposed on certain corporations as more fully described under the caption “Tax Exemptions” herein. Under the laws of the Commonwealth of Pennsylvania, as currently enacted and construed, the Bonds are exempt from personal property taxes in Pennsylvania and the interest on the Bonds is exempt from Pennsylvania personal income tax and Pennsylvania corporate net income tax. The School District has designated the Bonds and/or the Bonds will be deemed designated as “qualified tax-exempt obligations” for purposes of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended (relating to the deductibility of interest expenses by certain financial institutions). $4,515,000* RIDLEY SCHOOL DISTRICT Delaware County, Pennsylvania General Obligation Bonds, Series of 2013 Dated: Date of Delivery Interest Payable: May 15 and November 15 Due: May 15 and November 15, as shown on the inside cover First Interest Payment: May 15, 2013 Denomination: Integral multiples of $5,000 Form: Book-Entry Only Maturity Schedule (See Inside Cover) Legal Investment for Fiduciaries in Pennsylvania: The General Obligation Bonds, Series of 2013 in the aggregate amount of $4,515,000* (the “2013 Bonds” or the “Bonds”), are legal investments for fiduciaries in the Commonwealth of Pennsylvania under the Probate, Estate and Fiduciaries Code, Act of June 30, 1972, No. 164, P.L. 508 as amended and supplemented. Payable: The Bonds will be issued as fully registered bonds and when issued, will be registered in the name of and held by Cede & Co., as nominee for The Depository Trust Company, New York, New York (“DTC”). DTC will act as securities depository for the Bonds. Purchases of the Bonds will be made only in book-entry form, and purchasers will not receive certificates representing their interests in the Bonds. So long as DTC, or its nominee, Cede & Co., is the registered owner of the Bonds, payments of the principal of and interest on the Bonds will be made by TD Bank, National Association, located in Philadelphia, Pennsylvania, (the “Paying Agent”) directly to Cede & Co. Disbursement of such payments to the DTC Participants is the responsibility of DTC, and disbursement of such payments to Beneficial Owners of the Bonds is the responsibility of the DTC Participants and the Indirect Participants. See “BOOK-ENTRY ONLY SYSTEM” herein. Optional Redemption: The 2013 Bonds are subject to optional redemption as more fully described herein. Purpose: Proceeds of the 2013 Bonds will be used to provide funds to pay: (1) the costs of currently refunding the Ridley School District’s outstanding General Obligation Bonds, Series of 2008; and (2) the costs and expenses of such refunding and of issuing the 2013 Bonds. Security: In a Resolution adopted by the Board of School Directors of the Ridley School District, Delaware County, Pennsylvania (the “School District”) on March 5, 2012 (the “Resolution”), authorizing the issuance of the Bonds, the School District has covenanted with the registered owners of the Bonds that it shall include the amount of the debt service to be paid on the Bonds for each fiscal year in which such sums are payable in its budget for that year and shall appropriate such amounts to the payment of such debt service; and shall duly and punctually pay or cause to be paid from the Sinking Fund (hereinafter defined), or other revenues or funds of the School District, the principal of and interest on the Bonds on the dates, at the places and in the manner stated in the Bonds, according to the true intent and meaning thereof; and for such budgeting, appropriation and payment the School District pledges its full faith, credit and taxing power, which taxing power, except as more fully described in Appendix A under the heading (“The Taxpayer Relief Act”), includes the power to levy ad valorem taxes on all taxable property with the School District, within limitations provided by law. As provided in the Local Government Unit Debt Act of the Commonwealth of Pennsylvania, 53 Pa C.S. Chs. 80-82, as amended (the “Act”), the foregoing covenant shall be specifically enforceable. The Bonds are offered for delivery when, as and if issued by the School District and received by the Underwriter and subject to the approving legal opinion of Dilworth Paxson LLP, Philadelphia, Bond Counsel, to be furnished upon delivery of the Bonds. Certain legal matters will be passed on for the School District by John F. X. Reilly, Esquire, Media, Pennsylvania, Solicitor for the School District. It is expected that the Bonds will be available for delivery, through the facilities of DTC, on or about _____________, 2013. The date of this Official Statement is ____________, 2013. This Preliminary Official Statement and the information contained herein are subject to completion, amendment or other change without notice. The Bonds may not be sold nor may offers to buy be accepted prior to the time the Official Statement is delivered in final form. Under no circumstances shall this Preliminary Official Statement constitute offeran to sell or the solicitation buy,of offer noran shallto there be any sale of the Bonds in any solicitation or sale would be unlawful prior to registration qualification under the applicable securities laws of any such jurisdiction. jurisdiction in which such offer, * Preliminary, subject to change. $4,515,000* RIDLEY SCHOOL DISTRICT Delaware County, Pennsylvania General Obligation Bonds, Series of 2013 Dated: Date of Delivery Interest Payable: May 15 and November 15 Due: May 15 and November 15, as shown below First Interest Payment: May 15, 2013 Denomination: Integral multiples of $5,000 Form: Book-Entry Only Maturity Schedule Payment Principal Payment Principal Date Amount Coupon Price Date Amount Coupon Price May 15 November 15 2013 2020 November 15 2021 2013 2022 2015 2023 2016 2024 2017 2025 2018 2026 2019 2027 ______________ * Preliminary, subject to change. ii Ridley School District Delaware County, Pennsylvania BOARD OF SCHOOL DIRECTORS Michael V. Capozzoli ................................................................................................................................. President Beverly H. Kapanjie ...........................................................................................................................Vice President Charles Maiers ...................................................................................................................Secretary (Non Member) Cindy Cherkas ...................................................................................................................Treasurer (Non Member) George B. Dawson, Esq. ...............................................................................................................................Member Stephen J. Ferzetti ........................................................................................................................................Member Andrew J. Hamilton ......................................................................................................................................Member Harry J. McElwee .........................................................................................................................................Member Christine M. McMenamin ............................................................................................................................Member Adele Warner ...............................................................................................................................................Member Patrick J. Welsh ............................................................................................................................................Member SCHOOL DISTRICT ADMINISTRATION Lee Ann Wentzel .................................................................................................................................Superintendent Cindy Cherkas ................................................................................................................Assistant Business Manager SCHOOL DISTRICT SOLICITOR John F. X. Reilly, Esquire Media, Pennsylvania BOND COUNSEL Dilworth Paxson LLP Philadelphia, Pennsylvania PAYING AGENT TD Bank, National Association Philadelphia, Pennsylvania UNDERWRITER RBC Capital Markets, LLC Philadelphia, Pennsylvania iii No dealer, broker, salesperson or other person has been authorized by the School District or the Underwriter to give any information or to make any representations, other than those contained in this Official 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 Official Statement does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Bonds by any person in any jurisdiction in which it is unlawful for such person to make