Beyond Boone, Llc – Appalachian State University Project) Series 2019
New Issue – Book-Entry-Only Rating: Moody’s “A2” (Insured) Moody’s “Baa3” (Underlying) S&P: “AA” (Insured) S&P: “BBB-” (Underlying) (See “RATINGS” herein) In the opinion of McGuireWoods LLP, Bond Counsel, based on existing law and assuming compliance with the provisions of the Internal Revenue Code of 1986, as amended, as described herein, interest on the 2019A Bonds is excludable from gross income of the owners of the 2019A Bonds for federal income tax purposes and is not a specific item of tax preference for purposes of the federal alternative minimum tax. Interest on the Series 2019B Bonds will be included in gross income for federal income tax purposes. See “TAX MATTERS” herein. $61,685,000 PUBLIC FINANCE AUTHORITY STUDENT HOUSING REVENUE BONDS (BEYOND BOONE, LLC – APPALACHIAN STATE UNIVERSITY PROJECT) SERIES 2019 consisting of: $60,760,000 $925,000 Series 2019A Taxable Series 2019B The Public Finance Authority (the “Authority”) is issuing (i) $60,760,000 aggregate principal amount of its Student Housing Revenue Bonds (Beyond Boone, LLC – Appalachian State University Project), Series 2019A (the “Series 2019A Bonds”) and (ii) $925,000 aggregate principal amount of its Taxable Student Housing Revenue Bonds (Beyond Boone, LLC – Appalachian State University Project), Series 2019B (the “Series 2019B Bonds” and collectively with the Series 2019A Bonds, the “Series 2019 Bonds”). The Series 2019 Bonds are being issued pursuant to a Trust Indenture dated as of February 1, 2019 (the “Indenture”) between the Authority and Wilmington Trust, National
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