Tab_87I, ROSE LOERA, City Manager of the City of Dillingham (the "Issuer"), HEREBY
CERTIFY that:
1. Pursuant to Resolution No. 2016-51 of the Issuer, I have approved the
series designation, aggregate principal amount, the principal amount of each maturity,
interest rates, dated date, principal and interest payment dates, record dates for
principal and interest payments, redemption terms, and other details of the Issuer's
General Obligation Refunding Bond, 2016 Series A (the "Bond"), as set forth in
Schedule X, attached hereto, and I have executed on behalf of the Issuer the
Amendatory Loan Agreement dated October 18, 2016 (the "Amendatory Loan
Agreement") between the Issuer and the Alaska Municipal Bond Bank (the "Bond
Bank") with respect to the Bond.
2. Pursuant to Resolution No. 2016-51 of the Issuer, I have designated the
Issuer's General Obligation School Bond, 2008 Series A, maturing in the years 2019
through 2028 to be refunded by exchange for the Bond, and find that the refunding of
the maturities of the General Obligation School Bond, 2008 Series A so designated
realizes a debt service savings of at least three percent of their principal amount, net of
all issuance costs and underwriting discount, on a present value basis.
3. No litigation is pending, or to my knowledge threatened, against the Issuer
in any court affecting the corporate existence of the Issuer, or the titles of its officers to
their respective offices, or seeking to restrain or enjoin the issuance, sale or delivery of
the Bond, or in any manner questioning the authority or proceedings for the
authorization or issuance of the Bond, or the right of the Issuer to levy and collect taxes
pledged or to be pledged to pay the principal of and interest on the Bond, or the pledge
thereof,, in any way contesting or affecting the validity or enforceability of the Bond, the
Amendatory Loan Agreement or the Loan Agreement dated as of April 1, 2008 between
the Issuer and the Bond Bank.
DATED this 3rd day of November, 2016.
CITY OF DILLINGHAM, ALASKA
ROSE LOERA, City Manager
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Date: Dated November 3, 2016.
Interest Payment Dates: Installments of interest on the Bond shall be payable on
December 1, 2016 and semiannually thereafter on the first days of June and December
of each year.
Record Dates: The 15th day of the month next preceding the applicable interest
payment date.
Maturities and Interest Rates: Installments of principal of the Bond mature on
December 1 in each of the years in the respective amounts, and bear interest at the
rates, as follows:
Principal Interest Principal Interest
Year Amount Rate Year Amount Rate
2018 $685,000 4.00% 2023 $ 850,000 5.00%
2019 710,000 4.00 2024 890,000 5.00
2020 740,000 4.00 2025 940,000 5.00
2021 775,000 4.00 2026 990,000 5.00
2022 810,000 5.00 2027 1,035,000 5.00
Redemption Provisions: Installments of principal of the Bond shall not be subject to
prepayment at the option of the Issuer prior to maturity.
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