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OFFICIAL NOTICE OF BOND SALE

$1,995,000 TOWN OF SPEEDWAY, INDIANA
PARK DISTRICT BONDS, SERIES 2008

Sealed bids will be received on behalf of the Town of Speedway, Indiana (the "Town") by the Town's financial advisor in the financial advisor's office, Crowe Chizek and Company LLC, c/o Herschel Frierson, 10 West Market Street, Suite 2000, Indianapolis, Indiana 46204, (317) 269-2377, until the hour of 10:00 A.M., local time, on June 19, 2008, for the purchase of the Town of Speedway, Indiana Park District Bonds, Series 2008 (the "Bonds"). Pursuant to Ordinance No. 2007-3, adopted by the Park and Recreation Board of the Town of Speedway, Indiana on June 18, 2007 (the "Ordinance"), the Bonds are to be issued in the name of the Town on behalf of the Park District of the Town (the "District"), for the purpose of procuring funds to finance the construction and equipping in the District of all or a portion of: (i) improvements to Leonard Park, (ii) improvements to Meadowood Park, (iii) any other related improvements thereto, (iv) pay capitalized interest on the Bonds thru January 15, 2009 and (v) pay expenses incurred in connection with the issuance of the Bonds. The Bonds are special obligations of the District as a special taxing district, payable solely from special unlimited ad valorem property taxes levied on all taxable property in the District pursuant to I.C. § 36-10-3-27. The Bonds and prescribed uses of the proceeds are authorized by the Ordinance and in accordance with the provisions of I.C. 36-10-3, and other applicable laws relating to the issuance of the Bonds (collectively, the "Act").

Bids may be submitted electronically via PARITY in accordance with this Notice of Bond Sale, until 10:00 A.M. local time on Thursday, June 19, 2008, but no bid will be received after the time for receiving bids specified above. To the extent any instructions or directions set forth in PARITY conflict with this Notice of Bond Sale, the terms of this Notice of Bond Sale shall control. For further information about PARITY, potential bidders may contact the Financial Advisor to the Town or i-Deal LLC at 1359 Broadway, 2nd Floor, New York, New York 10018, telephone (212) 849-5021. Sealed bids may be submitted to the Town's financial advisor at the address described above until 10:00 A.M. local time on the date of the sale.

The Bonds will be issued in fully registered form in the denomination of $5,000 or integral multiples thereof and will be numbered consecutively from R-1 upwards. The Bonds may but are not required to be Book Entry Only and held by The Depository Trust Company (the "DTC"). Interest on the Bonds will be payable semi-annually on January 15 and July 15 in each year, beginning on January 15, 2009, and on the basis of twelve 30-day months for a 360-day year.

The Bonds will mature on the dates and in the amounts set forth below:

Date - Principal Amount

7/15/09 $40,000 1/15/19 $55,000
1/15/10 40,000 7/15/19 55,000
7/15/10 40,000 1/15/20 60,000
1/15/11 40,000 7/15/20 60,000
7/15/11 40,000 1/15/21 60,000
1/15/12 40,000 7/15/21 60,000
7/15/12 45,000 1/15/22 65,000
1/15/13 45,000 7/15/22 65,000
7/15/13 45,000 1/15/23 65,000
1/15/14 45,000 7/15/23 65,000
7/15/14 45,000 1/15/24 70,000
1/15/15 45,000 7/15/24 70,000
7/15/15 50,000 1/15/25 70,000
1/15/16 50,000 7/15/25 75,000
7/15/16 50,000 1/15/26 75,000
1/15/17 50,000 7/15/26 75,000
7/15/17 50,000 1/15/27 80,000
1/15/18 55,000 7/15/18 55,000

As an alternative to part or all of the above series of maturities, the Town will consider bids for a term bond or bonds with stated maturity or maturities of any January 15 or July 15, beginning July 15, 2009 through January 15, 2027, as determined by the successful bidder. The term bonds shall be subject to mandatory sinking fund redemption and payment(s) at maturity at 100% of the principal amount thereof, plus accrued interest to redemption date, on dates and the amounts set forth above.

The principal of the Bonds is payable at the office of the Clerk-Treasurer of the Town, as registrar and paying agent or a qualified financial institution authorized to serve as, or appointed by the Clerk-Treasurer of the Town. Interest on the Bonds will be paid by check mailed one business day prior to the interest payment date to the registered owner thereof at the address as it appears on the bond register or at such other address as is provided to the paying agent in writing by such registered owner or established by agreement with DTC. Interest on the Bonds authenticated on or before January 1, 2009, will be paid from the original date of the Bonds. Bonds authenticated thereafter will be paid interest from the interest payment date next preceding the date of authentication of such Bonds unless the Bonds are authenticated between the 15th day of the month preceding an interest payment date and the interest payment date, in which case interest thereon will be paid from such interest payment date.

The Bonds maturing on or after January 15, 2018 are redeemable at the option of the Town on July 15, 2017 or any date thereafter, on thirty (30) days' notice, in whole or in part, in any order of maturities selected by the Town and by lot within a maturity, at 100% of face value plus accrued interest to the date fixed for redemption. Each minimum authorized denomination in principal amount shall be considered a separate bond for purposes of partial redemption.

Each bid must be for all of the Bonds and must state the rate or rates of interest in multiples of 1/100th of 1%, not to exceed 7% per annum. Any bid specifying two or more interest rates shall also specify the amount and maturity of the Bonds bearing each rate, but all Bonds maturing on the same date shall bear the same interest rate. The rate on any maturity shall be equal to or greater than the rate on the immediately preceding maturity. The award will be made to the best bidder who has submitted a bid in accordance with the terms of the Ordinance and this Notice of Bond Sale. The best bidder shall be the one who offers the lowest interest cost to the Town to be determined by computing the total interest on all of the Bonds from the date thereof to their respective maturities, after deduction therefrom of the premium or addition thereto of the discount, if any. No bid for less than 99% of the par value of the Bonds, plus accrued interest from the original date of the Bonds to the date of delivery at the rate or rates named in the bid, shall be considered. No conditional bid will be considered. The right is reserved to reject any and all bids. If no satisfactory bids are received at the time and on the date herein fixed, the sale may be continued from day to day thereafter for 30 days until a satisfactory bid has been received, but during such period no bid which provides an equal or higher net interest cost to the Town than the best bid received at the time of the advertised sale will be considered.

Each of the bids not submitted via PARITY shall be on a customary bid form which shall be enclosed in a sealed envelope addressed to the Clerk-Treasurer and marked on the outside "Bid For Town of Speedway, Indiana, Park District Bonds, Series 2008," and each bid shall be accompanied by a good faith deposit in the amount of One Thousand Nine Hundred Ninety-Five Thousand Dollars ($1,995.00) (the "Deposit"). The Deposit shall be made by the successful bidder by certified or cashier's check or financial surety bond including a wire transfer of funds due by 5:00 p.m. the day after the sale. In the event the successful bidder shall fail or refuse to accept delivery of the Bonds and pay for the Bonds as soon as the Bonds are ready for delivery, or at the time fixed herein, then said deposit and the proceeds thereof shall be the property of the Town shall be considered as liquidated damages on account of such default. The successful bidder shall make payment for the Bonds and accept delivery thereof on the later of June 30, 2008, or five days after being notified that the Bonds are ready for delivery at such place in the Town or the Town of Speedway, Indiana, as the Clerk-Treasurer shall designate. The checks of the unsuccessful bidders shall be returned immediately following the award of the Bonds. It is anticipated that the Bonds will be ready for delivery on or before June 30, 2008, and if not deliverable within 45 days from June 30, 2008, the successful bidder shall be entitled to cancel the sale and in such event his good faith deposit will be returned. No interest shall be paid on the good faith deposit.

The opinion of Barnes & Thornburg LLP, approving the legality of the Bonds, together with a transcript of the Bond proceedings and closing certificates in the usual form showing no litigation, will be furnished to the successful bidder at the expense of the Town. In the opinion of Barnes & Thornburg LLP, under existing laws, regulations, judicial decisions and rulings, interest on the Bonds is excludable from gross income under Section 103 of the Internal Revenue Code of 1986, as amended, (the "Code") for federal income tax purposes. In addition, the interest on the Bonds is exempt from income taxation in the State of Indiana for all purposes except the state financial institutions tax. The Bonds are subject to the Code, as amended, as in effect on the date of their issuance, which imposes limitations on the issuance of obligations such as the Bonds under federal tax law. The Town has covenanted to comply with those limitations to the extent required to preserve the exclusion of interest on the Bonds from gross income for federal income tax purposes.

A copy of the Preliminary Official Statement prepared at the direction of the Town may be obtained via the web at www.i-dealprospectus.com or in limited quantities prior to submission of a bid by request from the Town's Financial Advisor, Crowe Chizek and Company LLC, 10 West Market Street, Suite 2000, Indianapolis, IN 46204-2975, Attention: Herschel Frierson, telephone: (317) 269-2377, facsimile: (317) 269-6683. Said Preliminary Official Statement will be in a form deemed final by the Town, pursuant to Rule 15c2-12 of the Securities and Exchange Commission (the "Rule"), subject to completion as permitted by the Rule.

Within seven (7) business days of the sale, the Town will provide the successful bidder with up to 100 copies of the final Official Statement at the Town's expense and such additional copies as may be requested, within five (5) business days of the sale, by the successful bidder at the expense of the successful bidder. Inquiries concerning matters contained in the nearly final Official Statement must be made and pricing and other information necessary to complete the final Official Statement must be submitted by the successful bidder within two (2) business days following the sale to be included in the final Official Statement.

Dated this 4th day of June, 2008.

SHARON L. ZISHKA, CLERK-TREASURER
TOWN OF SPEEDWAY, INDIANA

[TO BE PUBLISHED ON JUNE 4, 2008 and JUNE 11, 2008
IN THE INDIANAPOLIS STAR
AND THE COURT AND COMMERCIAL RECORD]

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