101MIiI
NO G-1 $22660000
UNITEDSTATES OFAMERICA
KODIAK ISLAND BOROUGH ALASKA
GENERAL OBLIGATION SCHOOL BOND 2014 SERIES
REGISTERED OWNER ALASKA MUNICIPAL BOND BANK
PRINCIPAL AMOUNT TWENTY-TWO MILLION SIX HUNDRED SIXTY
THOUSANDAND NO/100 DOLLARS
The Kodiak Island Borough the Borough municipalcorporation of theState of
Alaskahereby acknowledges itself to owe and for valuereceived promises to pay to the
Registered Owner identified above or its registered assigns the principal amount identified
above in the following installments on March of each of the following years and to pay
interest on such installments from thedatehereof until paid payable on September 2014 and
semiannually thereafter on March and September of each year at the rates per annum as
follows
Maturity Date Principal Interest
March Amount Rate
2015 740000 2.00%
2016 785000 3.00
2017 810000 4.00
2018 840000 5.00
2019 880000 2.00
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2021 915000 5.00
2022 965000 5.00
2023 1010000 5.00
2024 1060000 5.00
2025 1110000 3.125
2026 1150000 5.00
2027 1205000 5.00
2028 1265000 5.00
2029 1330000 5.00
2030 1395000 5.00
2031 1465000 4.50
2032 1535000 5.00
2033 1610000 5.00
2034 1690000 5.00
51345572.2
When and if thisBhis dWffdb/t eA aThil BondBank or Financial
Institution payment of principal and interestshall be made as provided in the Loan Agreement
between the BondBank or Financial Institution and the Borough the Loan Agreement When
and if this Bond is not owned by the BondBank or Financial Institution installmentsof
principal of and interest on this Bond shall be paid by check or draft mailed by first class mail to
the Registered Owner as of theclose of business on the 15th day of the month before each
installment payment dateprovided that the final installmentof principal of and interest on this
Bond shall be payable upon presentation and surrender of this Bond by the Registered Owner at
the office of the Registrar Interest will be computed on the basisof 360-day year consisting of
twelve 30-day months Both principal of and interest on this Bond are payable in lawful money
of the United States of America which on the respective dates of payment thereof shall be legal
tender for the payment of public and private debts
This Bond is one of theGeneral Obligation School Bonds of the Kodiak Island Borough
Alaska constituting Bonds authorized for the purpose of paying thecost of school and related
capital improvements in the Borough and is issued under Resolution No FY2014-24 of the
Borough entitled
RESOLUTIONOF THE KODIAK ISLAND BOROUGH ASSEMBLY
AUTHORIZING THE BOROUGH TO ISSUE GENERAL OBLIGATION
SCHOOL BONDS IN THE PRINCIPAL AMOUNT OF NOTTO EXCEED
$25000000 TO PROVIDE FUNDS FORSCHOOLAND RELATED
CAPITAL IMPROVEMENTS IN THEBOROUGH ANDTO PAY COSTS
OF ISSUING THE BONDS FIXING CERTAIN DETAILS OF SUCH
BONDS AUTHORIZING THEIR SALE AND PROVIDING FOR
RELATED MATTERS
the Resolution
Installmentsof principal of this Bond coming dueon and after March 2025 shall be
subject to prepayment on and after March 2024 at the option of the Borough subject to any
applicable provisions of the Loan Agreement in such principal amounts and from such principal
installments as the Borough may determine at redemption price equal to the principal amount
to be prepaid plus accrued interest to thedate of prepayment
This Bond is transferable as provided in theResolution only upon the Bond Register
of the Borough and ii upon surrender of this Bond together with writteninstrumentoftransfer
duly executed by the Registered Owner or the duly authorized attorney of the Registered Owner
and thereupon new fully registered Bond or Bonds in the same aggregate principal amount and
maturity shall be issued to the transferee in exchange therefor as provided in theResolution and
upon the payment of charges if any as therein prescribed The Borough may treat and consider
the person in whose name this Bond is registered as theabsolute owner hereof for the purpose of
receiving payment of or on account of the principal or redemption price if any hereof and
interest due hereon and for all other purposes whatsoever
51345572.2
This Bond is general obligation of the Borough and the full faith and credit of the
Borough are pledged for the payment of the principal of and interest on this Bond as the same
shall become dueThe Borough hereby irrevocably pledges and covenants that it will levy and
collect taxes upon all taxable property within the Borough without limitation as torate or
amount in amounts sufficient together with other funds legally available therefor to pay the
principal of and interest on this Bond as the samebecome dueand payable
Reference is hereby made to theResolution and any resolution supplemental thereto for
description of the rights of the Registered Owner of this Bond and of the rights and obligations
of the Borough thereunder to all of the provisions of which Resolutionthe Registered Owner of
this Bond by acceptance hereof assents and agrees
iT IS HEREBY CERTIFIED AND RECiTED that all conditions acts or thingsrequired
by the constitutionor statutes of theState of Alaska to exist to have happened or to havebeen
perfonned precedent to or in theissuance of this Bond do exist have happened and havebeen
performed and that the series of Bonds of which this is one together with all other indebtedness
of the Borough is within every debt and other limit prescribed by such constitution orstatutes
IN WITNESS WHEREOF THE KODIAK ISLAND BOROUGH ALASKA has caused
this Bond to be signed in its name and on its behalf by the manual signature of its Mayor and its
corporate sealto be impressed or otherwise reproduced hereon and attested by the manual
signature of its Clerk all as of the 20th day of February 2014
Borough Clerk
KODIAK ISLAND
5fl45572.2