03LOAN AGREEMENT
THIS LOAN AGREEMENT dated as ofthe 1st day of September 2015 between
theAlaska Municipal Bond Bank the Bank body corporate and politic constituted
as an instrumentality of the State of Alaska the State exercisingpublic and essential
governmental functions created pursuant to the provisions of Chapter 85 Title 44
Alaska Statutes as amended the Act having its principal place of business at
Juneau Alaska and theKodiak Island BoroughAlaska duly constituted second
class borough of theState the Borough
WITNESSETH
WHEREAS pursuant to the Act the Bank is authorized to make loans of money
the Loan or Loans to governmental units and
WHEREAS the Borough is Governmental Unit as defined in theGeneral Bond
Resolution of the Bank hereinafter mentioned and pursuant to theAct is authorized to
accept Loan from the Bank to be evidenced by its municipal bonds and
WHEREAS the Borough desires to borrow money from the Bank in the
aggregate amount not to exceed $10000000 and hassubmitted two applications tothe
Bank for two Loans in the aggregate amount not to exceed $10000000 and the
Borough has duly authorized the issuance of its General Obligation School Bond 2015
Series in the aggregate principal amount of $6210000 and General Obligation
School Bond 2015 Series bond in the aggregate principal amount of $1780000
together the Municipal Bond which bonds are to be purchased by the Bank as
evidence ofthe Loans in accordance with this Loan Agreement and
WHEREAS the application of the Borough containsthe information requestedby
the Bank and
WHEREAS to provide for theissuance of bonds of the Bank in order toobtain
fromtime to time money with which to make Loans the Bank has adopted the General
Obligation Bond Resolution on July 132005 as amended the General Bond
Resolution and SeriesResolution No 2015-04S approved on August 11 2015
together withthe General Bond Resolution the Bond Resolution authorizing the
making of such Loans tothe Borough and the purchase ofthe Municipal Bond and
WHEREAS theBoard of the Bank approved certainmodifications to the General
Bond Resolution effective on the date when all bonds issuedunder the terms of the
General Bond Resolution prior to February 192013 cease to be outstanding
NOW THEREFORE the parties agree
The Bank hereby makes the Loans and the Borough accepts the Loans in
the aggregate principal amount of $7990000 As evidence ofthe Loans made tothe
Borough and such money borrowed from the Bank by the Borough the Borough hereby
sells tothe Bank the Municipal Bond in the principal amounts withthe principal
installment payments and bearing interest from their dates atthe rates per annum
stated in Exhibit appended hereto
The Borough represents that it has duly adopted or will adopt all
necessary ordinances or resolutions including Resolution Nos FY2016-05 and
FY2016-06 each adopted on August 20 2015 together the Borough Resolution
and hastaken or will take all proceedings required by law to enable it to enter intothis
Loan Agreement and issue its Municipal Bond to the Bank and thatthe Municipal Bond
will constitute general obligation bonds secured by the full faith and creditof the
Borough all duly authorized by the applicable Borough Resolution
Subject to any applicablelegal limitations the amounts to be paidby the
Borough pursuant to this Loan Agreement representing interest due on its Municipal
Bond the Municipal Bond Interest Payments shall be computed at the same rate or
ratesofinterest borne by the corresponding maturities ofthe bonds sold by the Bank in
order to obtain the money with which to make the Loans and to purchase the Municipal
Bond the Loan Obligations and shall be paid by the Borough at least seven
business days before theinterest payment date soas to provide funds sufficient to pay
interest asthe same becomesdue on the Loan Obligations
The amounts to be paid by the Borough pursuant to this Loan Agreement
representing principal due on its Municipal Bond the Municipal Bond Principal
Payments shall be paid at least seven business days beforethe payment date
stated in the Municipal Bond soas to provide funds sufficient to pay the principal of the
Loan Obligations asthe same matures based upon the maturity schedule stated in
Exhibit appended hereto
In theevent the amounts referred to in Sections and hereof to be paid
by the Borough pursuant to this Loan Agreement are not made available at any time
specified herein the Borough agrees that any money payable to it by any department or
agency of theState may be withheld from it and paid over directly to theTrustee acting
undertheGeneral Bond Resolution and this Loan Agreement shall be full warrant
authority and direction to make such payment upon notice to such department or
agency by the Bank with copy provided to the Borough as provided in the Act
In theevent Loan Obligations have been refunded and theinterestrates
the Bank is required to pay on its refunding bonds in any year are less than the interest
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rates payableby the Borough on the Municipal Bond for the correspondingyear
pursuant to the terms of the Municipal Bond then both the Municipal Bond Interest
Payments and the Municipal Bond Principal Payments will be adjusted in such
manner that the interestrate paid by the Borough on any principal installment ofthe
Municipal Bond is equal to theinterest rate paid by the Bank on the corresponding
principal installment of the Banks refunding bonds and ii on present value basis the
sum ofthe adjustedMunicipal Bond Interest Payments and Municipal Bond Principal
Payments is equal to or less than the sum of the Municipal Bond Interest Payments and
Municipal Bond Principal Payments due overthe remaining term ofthe Municipal Bond
as previously establishedunder this Loan Agreement In the event of such refunding
of Loan Obligations the Bank shall present to the Borough for the Boroughs approval
revised schedule of principal installment amounts and interestrates for the MunicipalBondIfapprovedbytheBoroughtherevisedscheduleshallbeattachedheretoas
Exhibit and incorporated herein in replacement of the previous Exhibit detailing said
principal installment amounts and interest rates
The Borough is obligated to pay tothe Bank Fees and Charges Such
Fees and Charges actually collected from the Borough shall be in an amount sufficient
together with the Boroughs Allocable Proportion as defined below of other money
available therefor underthe provisions of the Bond Resolution and other money
available therefor including any specific grants made by the United States of America
or anyagency or instrumentality thereof or by theState or anyagency or instrumentality
thereof and amounts applied therefor from amounts transferred to the Operating Fund
pursuant to Section 606 of theGeneral Bond Resolution
to pay as the samebecome due the Boroughs Allocable
Proportion ofthe Administrative Expenses of the Bank and
to pay as the same become due the Boroughs Allocable
Proportion of thefees and expenses of theTrustee and payingagent for the Loan
Obligations
The Boroughs Allocable Proportion as used hereinshall mean the proportionate
amount of the total requirement in respect to whichthe term is used determined by the
ratio thatthe principal amount ofthe Municipal Bond outstanding bears to the total of all
Loans then outstanding to all Governmental Units under the General Bond Resolution
as certified by the Bank The waiver by the Bank of any fees payablepursuant to this
Section shallnotconstitute subsequent waiver thereof
The Borough is obligated to make the Municipal Bond Principal Payments
scheduled by the Bank The first such Municipal Bond Principal Payment is due atleast
seven business days prior to thedate indicated on Exhibit appended hereto and
thereafter on the anniversary thereof each year The Borough is obligated to make the
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Municipal Bond Interest Payments scheduled by the Bank on semi-annual basis
commencing seven business days prior to the date indicated on Exhibit appended
hereto and to payany Fees and Chargesimposed by the Bank within 30 days of
receiving theinvoiceof the Bank therefor
TheBank shall not sell and the Borough shall not redeem prior to maturity
any portion ofthe Municipal Bond in an amount greater than the Loan Obligations which
arethen outstanding and which are then redeemable and in the event of any such sale
or redemption the same shall be in an amount not less than the aggregate of the
principal amount of the Municipal Bond or portion thereof to be redeemed ii the
interestto accrue on the Municipal Bond or portion thereof to be redeemed to the next
redemption datethereof not previously paid iii the applicable premium if any payable
on the Municipal Bond or portion thereof to be redeemed and iv thecost and
expenses of the Bank in effecting the redemption ofthe Municipal Bond or portion
thereof to be redeemed The Borough shall give the Bank at least 50 days noticeof
intention to redeem its Municipal Bond
In the eventthe Loan Obligations with respect to which the saleor redemption
prior to maturity of such Municipal Bond is being made have been refunded and the
refunding bonds of the Bank issued for the purpose of refunding such Loan Obligations
were issued in principal amount in excess of or less than the principal amount of the
Municipal Bond remainingunpaid at thedate of issuance of such refunding bonds the
amount whichthe Borough shall be obligated to pay or the Bank shallreceive under
item above shall be the principal amount of such refunding bonds outstanding
In the event the Loan Obligations have been refunded and theinterest the Bank
is required to pay on the refunding bonds is less thanthe interest the Bank was required
to pay on the Loan Obligations the amount whichthe Borough shall be obligated to pay
or the Bank shallreceive under item ii above shall be the amount of interest to accrue
on such refunding bonds outstanding
In theeventthe Loan Obligations have been refunded the amount which the
Borough shall be obligated to pay orthe Bank shall receive under item iii above when
the refunded Loan Obligations are to be redeemed shall be the applicable premium if
any on the Loan Obligations to be redeemed
Nothing in this Section shall be construed as preventing the Borough from
refunding the Municipal Bond in exchange for new Municipal Bond in conjunction with
refunding of the Loan Obligations
10 Simultaneously withthe delivery of the Municipal Bond to the Bank the
Borough shallfurnish to the Bank evidence satisfactory to the Bank which shallset
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forth among other things thatthe Municipal Bond will constitute valid and binding
general obligation ofthe Borough secured by the full faith and creditofthe Borough
11 Invoices for payments under this Loan Agreement shall be addressed to
theKodiak Island Borough Attention Finance Director 710 Mill Bay Road Kodiak
Alaska 99615 The Borough shall give the Bank and the corporate trust officeof the
Trusteeunder the General Bond Resolution atleast 30 days writtennoticeof any
change in such address
12 The Borough hereby agrees to keep and retain until the date six years
afterthe retirement of the Municipal Bond or any bond issued to refund the Municipal
Bond or such longerperiod as may be required by the Boroughs record retention
policies and procedures records with respect to the investment expenditure and use of
the proceeds derived from the saleof its Municipal Bond including without limitation
records schedules bills invoices check registers cancelled checks and supporting
documentation evidencing use of proceeds and investments and/or reinvestments of
proceeds The Borough agrees that all records required by the preceding sentence shall
be made availableto the Bond Bank upon request
13 Prior to payment of the amount ofthe Loans or any portion thereof and
the delivery ofthe Municipal Bond tothe Bank or its designee the Bank shall have the
right to cancel all or any part of its obligations hereunder if
Any representation warranty or other statement made by the
Borough to the Bank in connection with its applications to the Bank for the Loans shall
be incorrector incomplete in any material respect
The Borough has violated commitments made by it in the terms of
this Loan Agreement
The financial position of the Borough has in the opinion of the
Bank suffered materially adverse change between the date of this Loan Agreement
and thescheduled time of delivery ofthe Municipal Bond to the Bank
14 The obligation of the Bank under this Loan Agreement is contingent upon
delivery of its General Obligation Bonds 2015 Series Three and receipt ofthe proceeds
thereof
15 The Borough agrees that it will provide the Bank withwrittennoticeof any
default in covenants under the Borough Resolution within thirty 30 days from the date
thereof
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16 The Borough agrees that it shall fileits annual financial statement withthe
Municipal Securities Rulemaking Board not later than two hundred ten 210 days after
the end of each fiscal year of the Borough for the term ofthe Municipal Bond The
Borough further agrees that filings under this Section 16 shall be made in connection
with CUSIP Nos 01179P 011798 and 01179R Additional or alternate CUSIP
numbers may be added fromtime to time by writtennotice from the Bank to the
Borough The Borough agrees that if it shall receive from the Bank CUSIP numbers in
addition to those set forth in this Sectionthen it shall make its filings using both CUSIP
numbers hereinstated and any additional CUSIP numbers
17 The Borough agrees that it shall not take or omit to take any actionlawful
and within its power to take which action or omission would cause interest on the
Municipal Bond to become subject tofederal income taxes in addition to federal income
taxes to which interest onsuch Municipal Bond is subject on thedate of original
issuance thereof
The Borough shall not permit any ofthe proceeds ofthe Municipal Bond or any
facilities financed with such proceeds to be used in any manner that would cause the
Municipal Bond to constitute private activity bond within the meaning of Section 141
of the Code
The Borough shall make no use or investment ofthe proceeds of the MunicipalBondwhichwillcausetheMunicipalBondtobeanarbitragebondunderSection148
of the Code So long asthe Municipal Bond is outstanding the Borough shall comply
with all requirements ofsaid Section 148 and all regulations ofthe UnitedStates
Department of Treasury issued thereunder to theextent that such requirements are at
the time applicable and in effect The Borough shall indemnify and hold harmless the
Bank from any obligation ofthe Borough to make rebate payments tothe United States
under said Section 148 arising from the Boroughs use or investment of the proceeds of
the Municipal Bond
18 Upon request of the Bank the Borough agrees that if its bonds constitute
ten percent 10%or more of the outstanding principal of municipal bonds held by the
Bank under its General Bond Resolution it shall execute continuing disclosure
agreement prepared by the Bank for purposes ofSecurities and Exchange Commission
Rule 15c2-12 adopted underthe Securities and Exchange Act of 1934
19 The Borough agrees that if its bonds constitute ten percent 10%or more
of the outstanding principal of municipal bonds held by the Bank under its General Bond
Resolution it shall provide the Bank for inclusion in future official statements upon
request financialinformation generally of the type included in Appendix under the
heading Summaries of Borrowers Representing 10%or More of Outstanding Principal
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of Bonds Issued Under the 2005 General Bond Resolution to the Official Statement
and attachedhereto as Exhibit
20 If any provision of this Loan Agreement shall for any reason be held to be
invalid or unenforceable the invalidity or unenforceability of such provision shall not
affect any ofthe remaining provisions of this Loan Agreement and this Loan Agreement
shall be construed and enforced as if such invalid or unenforceable provision had not
been contained herein
21 This Loan Agreement may be executed in one or more counterparts any
of which shall be regarded for all purposes as an original and all of which constitute but
one and the same instrument Each party agrees that it will execute any and all
documents or other instruments and takesuch other actions as are necessary to give
effecttothe terms of this Loan Agreement
22 No waiver by either party of any term or conditionof this Loan Agreement
shall be deemed or construed aswaiver of any otherterm or condition hereof nor
shall waiver of any breach of this Loan Agreement be deemed to constitute waiver
of any subsequent breach whether of the same or of different section subsection
paragraph clause phrase or other provision of this Loan Agreement
23 In this Loan Agreement unlessotherwisedefined herein all capitalized
terms which are defined in Articleofthe General Bond Resolution shall have the same
meanings respectively assuch terms are given in Articleof theGeneral Bond
Resolution
24 This Loan Agreement merges and supersedes all prior negotiations
representations and agreements between the parties hereto relating to the subject
matter hereof and constitutes the entire agreement between the parties hereto in
respect thereof
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IN WITNESS WHEREOF the parties hereto have executed this Loan Agreement
the day and year first above written
ALASKA MUNICIPAL BONDBANK
Executive Director
KODIAKISLAND BOROUGH ALASKA
By tA1
KARLETONSHORT
Finance Director
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EXHIBIT
$6210000
Kodiak Island Borough Alaska
General Obligation School Bond 2015 Series
Series Municipal Bond
Due Principal Interest
October Amount Rate
2016 $195000 2.00%
2017 200000 2.00
2018 205000 4.00
2019 215000 5.00
2020 225000 5.00
2021 240000 5.00
2022 250000 5.00
2023 265000 5.00
2024 275000 5.00
2025 290000 5.00
2026 305000 5.00
2027 320000 5.00
2028 335000 5.00
2029 355000 5.00
2030 370000 4.00
2031 390000 5.25
2032 410000 5.25
2033 430000 5.25
2034 455000 5.25
2035 480000 5.25
Principal installmentsshall be payable on October in each ofthe years and in the
amounts setforth above Interest on the Series Municipal Bond shall be payable on
April 2016 and thereafter on October and April of each year
Optional Prepayment The Series Municipal Bond principal installments due on or
after October 2025 are subject to prepayment in whole or in part at the option of the
Borough on any date on or after April 2025 at price of 100%of the principal
amount thereofto be prepaid plus accrued interest to the date of prepayment
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$1780000
Kodiak Island Borough Alaska
General Obligation School Bond 2015 Series
Series Municipal Bond
Due Principal Interest
October Amount Rate
2016 $145000 2.00%
2017 150000 2.00
2018 155000 4.00
2019 160000 5.00
2020 170000 5.00
2021 180000 5.00
2022 190000 5.00
2023 200000 5.00
2024 210000 5.00
2025 220000 5.00
Principal installmentsshall be payable on October in each ofthe years and in the
amounts set forth above Interest on the Series Municipal Bond shall be payable on
April 2016 and thereafter on October and April of each year
Optional Prepayment The Series Municipal Bond principal installments due on or
after October 2025 are subject to prepayment in whole or in part at the option of the
Borough on any date on or after April 2025 at price of 100%ofthe principal
amount thereof to be prepaid plus accrued interest tothe date of prepayment
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EXHIBIT
APPENDIX
Summaries of Borrowers Representing10%or More of OutstandingPrincipal of Bonds
Issued Under the 2005 General Bond Resolution
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wnaI enlnswa borough General Fund
General ObligationFinancial Summary
EXHIBIT
lroperly Tax Collections
BorrowersPronrrlv Tax llatv nrr 9111150 84511 $450 $4.50 84.56
52%875124 S29M5tt.7.74
528630.610
95.23%
$290444n
99.95%
$30419493
$29946804
98.45%
530.396.459
99.9210
2141111953
535.823.497
$30302636
98.57%
$30729748
99.70%
MunicipalLevy
525326//CurrentYears Collections
CurrentCollectionRaie 98.27%
15Z4000Z12164YearsCollections
total Collection Rate 99.98%
General Fund
TotalEnding Fund Balance
$4.50 $5.40
15JnUoea
831.332.596
90.68%
22t332596
98.68%
24.11111.372
$29669460
15ZZLJZ150
90.39111
929.611.923
99.83711
Mmtrtnat 13.....1l v.11..2010 2011 71112 2013 2014 Averaer
23310985UnreservedEndingFundBalance228648392142Iult$21268520 16296148 128961156 519850.003Expenditures7082955672163558713478687245247873376361$06417519FundBalance/Expenditures 32%301 30%22711 22 30%TotalRevenues 68716762 70799893 71.108637 74255493 74945074 $67188010IntergovernmentalRevenues89878328538331974946410392037948645558402746PercentageIntergovernmental
23.025.423 2t.I0%814
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131 122 14%14%I
EXHIBIT
Central PeninsulaGeneral Hospital
FINANCIAL SUMMARY
2010 2011 2012 2013 2014
Audited Audited Audited Audited AuditedASSETS
Capital Assets net of depreciation $68368337$67842931 $64853893 $69429959 $71387990Cash2356100421700302278034873519781335508443CashheldforPlantReplacement1052859910097241114214611132272916447887RestrictedAssets12411963584121633493500000500000Unspentbondproceeds31275.450OtherAssets1809377119105718293835742986300636846307
Total Assets 121792907 122330313 134095908 14631 3507191.966077
LIABILITIES AND NET ASSETS
RevenueBonds Payable 32490000GOBondsPayable3792000035990000322550003013000027905000OtherLiabilities1405758510965610180417711817625820336761
Total Liabilities 51977585 46955610 50296771 48306258 80731761
NETASSETS 6981532275374703 83799137 98007249 111234316
Operating Revenues 88941888101279075 116849605 123951269126713712
Operating Expenses 78326691 86771449 99255770 102247165 104364018Depreciation83810298056595800456279593058066688
Operating Income Loss 2234168 64510319589273 13744799 14283006
Non-Operating Revenue Expense 249199 1105595 808253 1541657 1070583
Net Income Loss BeforeContribution 2483367 5345436 8781020 12203142 13212423
CapitalContributions 176391 212945 52843 2004970 14644
Change in NetAssets 26597585558381 883386314208112 13227067
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EXHIBIT
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In II.JnIJIJI.nI.JrCII
GENERAL09JGATION FINANCIAL SUMMARY
EXHIBIT
City and Borough of Sitka
Electric Enterprise Fund
Financial Summary
2010 2011 2012 2013 2014
Audited Audited AuditedAudited Audited
Assets
Cash 886815924320421 31450650 2880318713505669RestrictedAssets7149277687116435958752119745918121955OtherAssets4256023501016772662751389761511777153ConstructioninProgress5555467116469871808672458930539137885040
Utility Plant in Service 6491483363103150 6177500359900343 59508277
rotal Assets 90743759 110951889122174527 182729143 240798094
Liabilities and NetAssets
Liabilities
Other Liabilities 636920 1722772 24771826355564 13017817RevenueBondsPayable28090000487000004757000079485000105100000Deferredloss/premium on bonds 815343 1471509 1711547 59433386742293RevenueNotePayable90545988800188853549879736087973608
Total Liabilities 3696617560694469 5687113399757510 132833718
Net Assets 53777584 50257420 6530339482971633 107964376
Operating Revenues 10852914 1140152311611319 12077554 14240772OperatingExpenses
Administrative and General 16997371739698 2003768 1975492 2860066OperationandMaintenance43661155257342591489551520284964074Depreciation19941771987558197173919861951841712
Operating Income 2792885 2416925 17209172963839 4574920
Nonoperatingrevenue expense
Investment Income 523298 490986459107 314600 196399InterestExpense2369426172519828486391678238426419Other208962625748572946812866
Net Income before
contributions and transfers 11557191182713 42867 21731475157766
Capital contributions 2853752 4039237 526605017169455 19455106
Extraordinary Item
Net Pension Obligation Relief 119824139806 325771 379871TransferInOutnet23898998128
Change In NetAssets 39855735341774 5362989 18670245 24992743
Population of City and
Borough 8881 8773 8952 9084 9098ofelectriccustomers52785282530954035490KwHSold108739970111795344111048623111155330111155330
Revenue Bond DebtService 41084073477959 3467567 45292405045158RevenueBondCoverage1.25 1.34 1.41 1.43 1.27 1.34
Note $1440000 transferred into Rate Stabilization Fund in FY2013
Note Total ofrate Stabilization Fundas of June 30 2013 -$2151000
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EXHIBIT
CITY ANDBOROUGH OF SITKA
HARBOR ENTERPRISE FUND
FINANCIAL SUMMARY
2010 2011 2012 2013 2014
Audited Audited Audited Audited AuditedASSETS
Plant In-Service net of depreciation 15465195 14789299 14122591 13550231 13153475Land9000090000900009000090000ConstructionWorkinProgress31720229578386654767824365Cash30140673733467473510165991876616954RestrictedAssets3615663589166OtherAssets9870991342572133938912153851524898
Total Assets 19556678 1997556720344919 25736942 29198858
LIABILITIES AND NETASSETS
RevenueBonds Payable 45694863840000OtherLiabilities15006371405227115600311441381689033
Total Liabilities 15006371405227 1156003 5713624 5529033
NET ASSETS 1805604118570340 19188916 2002331824269825
Operating Revenues 3040330 28548583154885 3096419 3164252
Operation andMaintenance 2133877 2492110 24343291708210 2454599AdministrativeandGeneral
Depreciation 799254 899956 986619 668511 666074
OperatingIncome Loss 107199 537208266063 719698 43579
Non-Operating Revenue Expense 183181 46509 155306 156844 776434
Net Income Loss Before Contribution 75982490699 110757 876542 820013
CapitalContributions 2421861690873 2549949 3458599NetTransfers-In Out 4000003804600 675000 42141 32105SpecialitemNPOIOPEBwriteoff____________Change in NetAssets 566204 5004774 3114192 834401 4246507
Population of City 8881 8773 8952 9084 9098
No payments ofRevenueBondCoverageNoHarborBondsNoHarborBondsNoHarborBondsPI 5.16
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EXHIBIT
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CIIY OF KETCHIKAN --________________
GENERAL OBLIGATIONFINANCIAL SUMMARY
EXHIBIT
CITY OF KETCHIKAN
KETCHIKAN PUBLIC UTILITIES ENTERPRISE FUNDFINANCIALSUMMARY
2009 2010 2011 2012 2013
Audited Audited Audited Audited AuditedASSETS
Utility Plan IriService $69718266 $67177925$69018328 $83919407 $83919407ConstructionWorkinProgress8017706147885631713191881234958123495Cash1395867412566005138453681676788916767889RestrictedAssets40621673050592296356626950852695085OtherAssets86862191211836611.991790 6159953 6159953
Total Assets 104443032 109701451 114950970 117665829117665829
LIABILITIES AND NET ASSETS
RevenueBonds Payable 1990222320233232 18884282 16602060 16602060OtherLiabilities40452153983215484707954436365443636
Total Liabilities 23947438 24216447 23731361 22045696 22045696
NETASSETS 80495594 85485004 9121960995620133 95620133
Operating Revenues 33310537 32975154 34172941 34802748 34802748OperationandMaintenance2086133619060639199978552199264221992642AdministrativeandGeneral60344765603405609742754089615408961
Depreciation 60865145932099 5892449 6872767 6872767PaymentinLieuofTaxes
Operating Income Loss 328211 2379011 2185210 528378 528378
Non-OperatingRevenue Expense 402557 479652 363607 416621 416621
NetIncome Loss Before Contribution 74346 1899359 1821603 111757 111757
Contributions 2085231 3818051 46410025016767 5016767
Special Item
Transferof NetAssets Swan
Lake-Lake Tyee Intertie Project
Transfer Payment In Lieuof Taxes 675000728000 728000 728000 728000ChangeinNetAssets1335885498941057346054400.524 4400524
Population ofService Area 12984 13477 12984 13477 13477PopulationofCity75038050750380508050ofElectrjccustomers73657418736574187418ofTelephoneAccessLines74676994746769946994ofWaterCustomers32173207321732073207
RevenueBond Coverage 2.30 2.80 2.30 2.80 2.80
Water is onlyprovided withinthe City
Change in accountingstandards payment in lieu oftax mustbe reported as transfer
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EXHIBIT
CITY OFKETCHIKAN
PORT FINANCIAL SUMMARY
2009 2010 2011 2012 2012 2013AuditedAuditedAuditedAuditedRestatedAuditedASSETS
Cash $4827125 S4364226 $2373808 $2285517$2285517 2900167PortFacilitiesnet449476204364294742020640477667764776677653490542ConstructionWorkinProgress96301811167825531746506604850660485449151RestrictedAssets481970853075215623924608209760820976595730OtherAssets173044312813123670192451855342365514140133
Total Assets 57.287914 55712786 5922031065718991 6543698972575723
LIABILITIES AND NET ASSETS
General Obligation Bonds Payable 1035000 795000 540000 270000 270000RevenueBondsPayable3654000035830000350900003431500034315000 33505000OtherLiabilities314795731348142847180101231310723131699380
Total Liabilities 4072295739759814 3847718035657313 35657313 35204380
NETASSETS 1656495715952974 20743130 30061678 29779675 37371343
Operating Revenues 8922228 8000492 7986404 8592255 8592255 9145920OperationandMaintenance536800953192523957909388415638885254.416473Depreciation14602651.446527 1401754 1359513 1359513 1636863PropertyTaxes154041167.219 152762 142575 142575 165627PaymentinLieuofTaxes
Operating Income Loss 1939913 1067494 2473979 3206011 3201642 2926957
Non-Operating Revenue Expense 1718248 19034212043804 201.299 223562 912.634
Net Income Loss Before Contribution 221665 835927 430.175 3407310 3425204 2014323
Contributions and Capital Grants 905943 518944 4654.981 6214416 6214415 8676543ExtraordinaryItem
SpecialItem
Transfers 8178 8178 80199TransferPaymentinLieuofTaxes290000295000295000295000295000319.000
Change in Net Assels 837608 611983 4.790156 9318548 9336442 10291667
1.25 Annual Debt Service 2.45 200 2.24 3.36 3.36 3.00
1.0 AnnualDebt
Service/Reserves Account/Repair
and Replacement Fund/SPH
Lease Payments 1.13 0.99 1.16 1.67 167 1.41
Unaudlted
of Ships 36 26 28 34 34 38ofCalls/Stops 496 429 426 467 462 453ofWaterPassengers937419828929830547885799885799938124
Reflects statisticalinformation provided by theKetchikan Visitors Bureau
Beginning in 2005 change in accounting atandards required payment inlieu of taxesto be reported as transfers
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EXHIBIT
CITY ANDBOROUGH OFJUNEAU
FINANCIAL SUMMARY
General Governmental Fund
D-.9
Page 10 of 14
EXHIBIT
CITY AND BOROUGH OF JUNEAUHARBORENTERPRISEFUND
FINANCIAL SUMMARY
2010 2011 2012 2013 2014AuditedAuditedAuditedAuditedAuditedASSETS
Plant In-Service net of depreciation $11923364 $1 3827335 $1 2844129 $1 1875368 $14325870ConstructionWorkinProgress2993571129889294334997694239797440419697Cash44700534728522466075534663744030992RestrictedAssets758858410702703111964791094632810554614OtherAssets866059764741847869543407679907
Total Assets 54783771 59912595 63049001 69229451 70011080
LIABILITIES AND NET ASSETS
Revenue Bonds Payable 99600009700000 9691595 9380434 9033637OtherLiabilities17262402110290214090914013652050500
Total Liabilities 11686240 11810290 11832504 10781799 11084137
NET ASSETS 43097531 48102305 51216497 58447652 58926943
Operating Revenues 3040330 2854858 3154885 3173272 3508430OperationandMaintenance21338772492110243432924981782814717AdministrativeandGeneral
Depreciation 799254 899956 986619 968761 1003707
Operating Income Loss 107199 537208 266063 293667 309994
Non-Operating Revenue Expense 183181 46509 155306 214686 128433
Net Income Loss Before Contribution 75982 490699 110757 508353 181561
Capital Contributions 2421861690873 2549949 7392466 660852NetTransfers-In Out 400000 3804600 675000 500000SpecialitemNPO/OPEB writeoff _____________Change in Net Assets 566204 5004774 3114192 7384113 479291
PopulationofCity 31275 31275 32441 32660 33064RevenueBondCoverage2181.19 1.79 1.21 1.67
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EXHIBIT
CITY AND BOROUGH OFJUNEAU
PORT DEVELOPMENT SPECIAL REVENUE FUND
FINANCIAL SUMMARY
2010 2011 2012 2013 2014AuditedAuditedAuditedAuditedAuditedASSETS
PlantIn-Service net of depreciation
Construction Work in Progress
Cash 34146794428233 208085 252013 71012RestrictedAssets
OtherAssets 273317314814 269712 484639294257
Total Assets 3687996 4743047 61627 232626365269
LIABILITIES AND NET ASSETS
Revenue Bonds Payable
Other Liabilities 151020 349585
Total Liabilities 151020 349585
NETASSETS 3687996 4743047 6162781606 15684
Operating Revenues 2856882 2557851 2634080 2825479 2864578OperationandMaintenance45002800550055005500AdministrativeandGeneral
Depreciation
Operating Income Loss 2852382 2555051 26285802819979 2859078
Non-Operating Revenue Expense
Net Income Loss Before Contribution 28523822555051 2628580 2819979 2859078
CapitalContributions
Net Transfers-In Out 1750000 1500000 7310000 28000002925000ChangeinNetAssets1102382105505146814201997965922
Population of City 3127531275 32441 32660 33064RevenueBondCoverageN/A N/A N/A N/A N/A
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EXHIBIT
City and Borough of Juneau
Conduit Debt
WILDFLOWER COURT not for profit organziation
FINANCIAL SUMMARY
4549892
10361609
9802944
937147
378482
27924
4356076 3768944
10859195 10841324
98943539594317
832579 780765
132263 466243
61553 120890
350558 193816587132
RevenueBond Coverage 1.01
TheBond Bank has received notification from senior management of Wildflower Court that for calendar year 2013and2014WildflowerCourtfellshortoftherequireddebtservicecoverageratioof1.15 times Per section 5.1b of theloan agreementbetweentheCityandBoroughofJuneauandWildflowerCourtWildflowerCourtisworkingwiththeCityandBoroughto
identify measures to return the facility to compliance with the debt service coverage requirement of theloan agreement
2010 2011 2012 20132014
Audited Audited AuditedAudited Audited
5674338
1255867
1735178
1312915
9978298
4909305
1582128
1707402
1399517
9598352
4620999
1752043
2170928
1444749
9988719
4734678
1437085
1489365
1786787
9447915
ASSETS
Plant In-Service
Cash
Restricted Assets
OtherAssets
Total Assets
LIABILITIES AND NET ASSETS
Bond Debt
Other Liabilities
Total Liabilities
NET ASSETS DEFICIT
Operating Revenues
Operating Expenses
Depreciation
Operating Income Loss
Non-Operating Revenue Expense
Change in Net Assets
13650000
878190
14528190
13050000
904428
13954428
3771100
1970693
1450054
1267699
8459546
10204712
996579
11201291
11705000
2052663
13757663
11596229
1132323
12728552
3280637 2741745
11057791 11447862
9666530 9961681
9356691008253
455592 477928
3271360964
1.33
488305 538892
1.32 1.12 1.10
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EXHIBIT
CITY AND BOROUGH OF JUNEAU
BARTLETT REGIONAL HOSPITAL
FINANCIAL SUMMARY
2010 2011 2012 2013 2014AuditedAuditedAuditedAuditedAuditedASSETS
Plant In-Service net of depreciation $74736663 $72772410 $74566327$74002798 $69208456ConstructionWorkinProgress3126611686678162022242826314228425Cash180362021499030873861692611383338596921RestrictedAssets855505110160114654949854907635327673OtherAssets2054993723011253234621132523020620528164
Total Assets 125004464 127800876 128166331 133663919 133889639
LIABILITIES ANDNET ASSETS
Revenue Bonds Payable 26165000 25570000 24926795 25304679 24346618OtherLiabilities11066147113910538999867882906711033875
Total Liabilities 37231147 36961053 33926662 34133746 35380493
NET ASSETS 87773317 90839823 94239669 99530173 98509146
Operating Revenues 82640681 90680836 9502637384250207 80198274OperationandMaintenance7297563283883389894119137696744478820476AdministrativeandGeneral
Depreciation 62705656552177 7145290 7001295 7086559
Operating Income Loss 3394484 245270 1530830 281468 5708761
Non-Operating Revenue Expense 911555 1579634 3306366 4119820 3610234
Net Income Loss Before Contribution 4306039 1824904 1775536 4401288 2098527
Capital Contributions 536697 89002 471910 134658NetTransfers-In Out 1146000 1152600 1152400 1123000 1077500SpecialitemNPO/OPEB writeoff _____________Change in Net Assets 59887363066506 3399846 5658946 1021027
Population of City 3127531275 32441 32660 33064RevenueBondCoverage5.15 3.63 3.00 7.34 250
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