Exhibit B - Official Statement GOB 2019 (opens in new window) Opening in a new window

Description

RATING: Moody’s: Aa1 (Stable Outlook) (Underlying) (See “RATING” herein) NEW ISSUE – BOOK-ENTRY ONLY In the opinion of Bond Counsel, under existing statutes, regulations and judicial decisions, interest on the Bonds is excluded from gross income for purposes of federal income taxation and is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals. This opinion of Bond Counsel is subject to continuing compliance by the School District with its covenants in the Resolution and other documents to comply with requirements of the Internal Revenue Code of 1986, as amended, and applicable regulations thereunder. 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. For further information concerning federal and state tax matters relating to the Bonds, see “Tax Exemption and Other Tax Matters” herein. $9,370,000 North Penn School District Montgomery and Bucks Counties, Pennsylvania General Obligation Bonds, Series of 2019 Dated: March 6, 2019 Interest Due: March 1 and September 1 Principal Due: March 1, (as shown on inside front cover) First Interest Payment: September 1, 2019 The General Obligation Bonds, Series of 2019 (the “Bonds”) in the aggregate principal amount of $9,370,000 will be issued in registered form in denominations of $5,000 or any integral multiple thereof. The Bonds will be registered in the name of Cede & Co., as the registered owner and nominee of The Depository Trust Company (“DTC”), New York, New York. Beneficial ownership of the Bonds may be acquired in denominations of $5,000 or any integral multiple thereof only under the book-entry only system maintained by DTC through its brokers and dealers who are, or act through, DTC Participants. The purchasers of the Bonds will not receive physical delivery of the Bonds. For so long as any purchaser is the beneficial owner of a Bond, that purchaser must maintain an account with a broker or a dealer who is, or acts through, a DTC Participant to receive payment of principal of and interest on the Bonds. See “BOOK-ENTRY ONLY SYSTEM” herein.