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Tab_48dEXHIBIT D - Form of Notice of Defeasance ALASKA MUNICIPAL BOND BANK NOTICE TO HOLDERS OF THE FOLLOWING ALASKA MUNICIPAL BOND BANK GENERAL OBLIGATION BONDS, 2007 SERIES FIVE MATURING ON AND AFTER SEPTEMBER 1, 2017 NOTICE IS HEREBY GIVEN to the holders of the outstanding Alaska Municipal Bond Bank, General Obligation Bonds, 2007 Series Five (the "2007 Series Five Bonds") that the outstanding 2007 Series Five Bonds maturing on and after September 1, 2017 are being defeased and that the defeased 2007 Series Five Bonds (the "Refunded Bonds") (i) maturing on and after September 1, 2018 will be called for redemption on September 1, 2017 in accordance with their terms, at a redemption price equal to 100% of the principal amount thereof, plus in each case accrued interest to the date fixed for redemption, and (ii) maturing on September 1, 2017, will be retired in accordance with their terms, at a retirement price equal to the principal amount thereof, plus accrued interest to the date fixed for maturity. The funds to be used for such redemption or retirement, as applicable, have heretofore been deposited with the Escrow Agent. The 2007 Series Five Bonds were issued on December 4, 2007 and the 2007 Series Five Bonds being defeased accrue interest at the following interest rates: Redemption or Maturity Outstanding Original CUSIP Retirement Defeased Defeased Date Principal Interest No. Price (% of Principal CUSIP No. (September 1) Amount Rate (01179) Principal) Amount (01179) 2017 $130,000.00 6.000% PVR5 100% $130,000.00 PVR5 2018 135,000.00 6.000 PVS3 100 135,000.00 PVS3 2019 145,000.00 4,000 PVT1 100 145,000.00 PVT1 2020 150,000.00 4.125 PVU8 100 150,000.00 PVU8 2021 160,000.00 4.250 PVV6 100 160,000.00 PVV6 2022 165,000.00 4.300 PVW4 100 165,000.00 PVW4 2023 175,000.00 4.400 PVX2 100 175,000.00 PVX2 2024 180,000.00 4.500 PVYO 100 180,000.00 PVYO 2025 190,000.00 4.500 PVZ7 100 190,000.00 PVZ7 2026 200,000.00 4.500 PWA1 100 200,000.00 PWA1 2027 205,000.00 4.625 PWB9 100 205,000.00 PWB9 2028 215,000.00 4.625 PWC7 100 215,000.00 PWC7 2029 285,000.00 4.625 PWD5 100 285,000.00 PWD5 2030 300,000.00 4.750 PWE3 100 300,000.00 PWE3 2031 315,000.00 4.750 PWFO 100 315,000.00 PWFO 2032 330,000.00 4.750 PWG8 100 330,000.00 PWG8 2037 1,910,000.00 4.750 PWM5 100 1,910,000.00 PWM5 * As of October 18, 2016. AIvIBB - General Obligation and Refunding Bonds, 2016 Series Three Escrow Agreement (2007 Series Five) Page D-1 This CUSIP9 number has been assigned by the Bond Bank's CUSIP Global Services and is included solely for the convenience of the holders. Neither the Bond Bank nor the Escrow Agent or Trustee shall be responsible for the selection or use of this CUSIP® number, nor is any representation made to its correctness on the bond or as indicated in any redemption notice. Holders of the Refunded 2007 Series Five Bonds maturing on and after September 1, 2018 to be redeemed and the Refunded 2007 Series Five Bonds maturing on September 1, 2017 to be retired will receive payment of the redemption price or retirement price, as applicable, and accrued interest to which they are entitled upon presentation and surrender thereof at the corporate trust office of The Bank of New York Mellon Trust Company, NA., as set forth below. First Class/Registered/Certified Express Delivery Only By Hand Only The Bank of New York Mellon The Bank of New York Mellon The Bank of New York Mellon Global Corporate Trust Global Corporate Trust Global Corporate Trust P.O. Box 396 111 Sanders Creek Parkway Corporate Trust Window East Syracuse, New York 13057 East Syracuse, New York 13057 101 Barclay Street, 1st Floor East New York, New York 10286 Such Refunded Bonds have been defeased and therefore are deemed to be no longer outstanding, but will be payable solely by application of moneys deposited into the escrow account held by the Escrow Agent. DATED this day of 2016. AMBB - General Obligation and Refunding Bonds, 2016 Series Three Escrow Agreement (2007 Series Five) Page D-1