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61 <br /> this Official Statement. Principal is payable, subject to redemption as described herein, on October 1 in <br /> the years and in the amounts set forth on the inside front cover page of this Official Statement. <br /> ADDITIONAL BONDS <br /> Under the conditions described in the Trust Agreement, without the approval or consent of the <br /> Owners of the then-outstanding Bonds and without notice to such Owners, Additional Bonds may be <br /> delivered and secured on parity with the 2019B Bonds and the Prior Bonds to provide funds (a)to expand <br /> or improve the Pledged Facilities, (b)to construct further improvements to the Pledged Sites,(c)to refund <br /> any Outstanding Bonds, (d)to pay financing costs or establish reserves in connection with the issuance of <br /> Additional Bonds, (e)for any other purpose that may be allowed by law from time to time, including the <br /> acquisition and construction of additional public facilities,whether or not those facilities are related to the <br /> Pledged Facilities or the Pledged Sites, or(f)for any combination of such purposes. <br /> BOOK-ENTRY ONLY <br /> The 2019B Bonds will be delivered in book-entry form only without physical delivery of <br /> certificates to beneficial owners of the 2019B Bonds. Payments to beneficial owners of the 2019B Bonds <br /> will be made by The Depository Trust Company ("DTC"), New York, New York, and its participants. <br /> See Appendix E, "BOOK-ENTRY ONLY SYSTEM" hereto. So long as Cede & Co. is the registered <br /> owner of the 2019B Bonds, references herein to registered owner or Owners of the 2019B Bonds means <br /> Cede&Co. and not the beneficial owners of the 2019B Bonds. <br /> TAx STATUS <br /> In the opinion of Bond Counsel, under existing law and subject to conditions described under <br /> "TAX TREATMENT" herein, interest on the 2019B Bonds paid by the County (1) is not includable in <br /> the recipient's gross income for federal income tax purposes, (2) is not an item of tax preference for <br /> purposes of the federal alternative minimum income tax, and (3) is exempt from current State of North <br /> Carolina income taxes. See"TAX TREATMENT." <br /> PROFESSIONALS <br /> Robert W. Baird& Co. Incorporated and FTN Financial Capital Markets (the"Underwriters")are <br /> underwriting the 2019B Bonds. The Bank of New York Mellon Trust Company, N.A. is serving as <br /> Trustee with respect to the 2019B Bonds. Davenport & Company LLC is serving as financial advisor. <br /> Sanford Holshouser LLP is serving as Bond Counsel. John L. Roberts, Esq. is the County Attorney. <br /> McGuireWoods LLP is serving as counsel to the Underwriters. <br /> ADDITIONAL INFORMATION <br /> Summaries of the Trust Agreement and the Modified Deed of Trust, including a list of definitions <br /> of certain terms, are included as Appendix C. All quotations from and summaries and explanations of the <br /> Trust Agreement and the Modified Deed of Trust contained in this Official Statement, including in <br /> Appendix C, do not purport to be complete. Reference is made to such documents for full and complete <br /> statements of their respective provisions. <br /> Additional information and copies in reasonable quantity of the principal financing documents <br /> may be obtained from the County at 200 South Cameron Street, Hillsborough, North Carolina 27278, <br /> Attention: Chief Financial Officer. Copies of such documents can also be obtained during the offering <br /> period from Robert W. Baird & Co. Incorporated at 380 Knollwood Street, Suite 440, Winston-Salem, <br /> 5 <br />