1965-02 Approving Sale Of Bonds $500,000 Kodiak Independent School District1 1 1 1 1 1 I
al facilities and
KODIAK ISLAND BOROUGH ASSEMBLY
RESOLUTION NUMBER 65-
A Resolution of the Borough Assembly of the Kodiak
Island Borough, approving of the Sale of the KODIAK INDEPENDENT
' SCHOOL DISTRICT GENERAL OBLIGATION BOND ISSUE in the amount of
'FIVE HUNDRED THOUSAND and No /100ths ($500,000.00) DOLLARS to the
'winning bidder and consenting to the issuance and delivery of such
bonds to the Purchaser under the terms of its bid.
WHEREAS, pursuant to Resolution 65 -1 of the KODIAK
ISLAND BOROUGH passed and adopted on the 22nd day of January, 1965.
the KODIAK ISLAND BOROUGH ASSEMBLY authorized the sale of the
Kodiak Independent School Districts of General Obligation Bonds in
a sum not exceeding FIVE HUNDRED THOUSAND and No /100ths (S500,000.0C
DOLLARS, for the purpose of constructing an additional wing to the
existing high school building and to provide vocational, education-
WHEREAS, pursuant to such authorization the KODIAK
INDEPENDENT SCHOOL DISTRICT published a Notice of such sale in
the Daily Bond Buyer on February 17, 1965, giving notice that
sealed bids for the purchase of said bonds would be received at
the office of GOVERNMENTAL STATISTICAL CORPORATION, Crawford Build-
ing, Anchorage, Alaska, until eleven o'clock A.M., Alaska Standard
Time, on February 25, 1965, at which time all bids would be public -
ly opened, read and tabulated and
Page One, RESOLUTION NO. 65-
WHEREAS, pursuant to said Notice of Sale, the
KODIAtENDEPENDENT SCHOOL DISTRICT accepted the proposal of the
NATIOIf. BANK OF ALASKA to purchase all of the FIVE HUNDRED THOUSAND
No /100ths ($500,00.00) DOLLARS par value (coupon) bonds of the
KODIAK INDEPENDENT SCHOOL DISTRICT as described in said official
notice of bond sale and to pay therefore, FIVE HUNDRED THOUSAND
TWO HUNDRED THIRTY ONE and 51 /100ths ($500,231.51) DOLLARS and
accrued interest from the date of said bonds to the date of deliv-
ery and payment therefore, with said bond to bear interest as
follows:
A. THREE HUNDRED FIFTY THOUSAND and No /100ths
($350,000.00) DOLLARS, General Obligation Serial Bonds, 1965,
maturing March 1, 1966 to March 1, 1979, inclusive to bear interest
at the rate of three and three - eighths percent (.03625 %) per annum:
and
B. ONE HUNDRED FIFTY THOUSAND and No /100ths
($150000.00) DOLLARS, General Obligation Callable Serial Bonds,
1965, maturing March 1, 1980 to March 1, 1985, inclusive, to bear
interest at the rate of three and seven eighths percent (.03875%)
per annum.
The effective rate of interest over the life of
bonds being 3.75125% per annum.
NOW, THEREFORE, BE IT RESOLVED by the KODIAK ISLAND
BOROUGH ASSEMBLY that the KODIAK ISLAND BOROUGH does hereby consent
to the issuance and delivery of such bonds to the Purchaser under
the terms of its bid.
PASSED AND ADOPTED this 4*r day of March, 1965.
BY +-
KODSD1A4 ISLAND NUKUUGH AsoEMBLY
Chairman
BY+- -- '- 44:,-1-1. ac . --VEC :-L ' 4
Presiding ficer