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Tab_123• UNITED STATES OF AMERICA STATE OF ALASKA, KENAI PENINSULA BOROUGH (A Municipal Corporation of the State of Alaska) NO-1 $21 660,000 • . . SOUTH KENAI PENINSULA HOSPITAL SERVICE AREA • . . . . GENERAL OBLIGATION REFUNDING BOND, 2016 REGISTERED OWNER: Alaska Municipal Bond Bank DATED: November 31 2016 PRINCIPAL AMOUNT: Two Million Six Hundred Sixty Thousand and No/100 Dollars The Kenai Peninsula Borough, Alaska (the "Borough"), a municipal corporation of the State of Alaska, hereby acknowledges itself to owe and for value received promises to pay, I to the Registered Owner set forth . above, or its registered assigns,. the Principal Amount set forth above in accordance with the installment payment schedule set forth below, together with interest in such installments from the date hereof, or the most recent date to which interest has been paid or duly provided for, payable on December 1, 2016, and semiannually thereafter on June 1 and December 1 of each year, at the rates per annum as follows: Principal Installment . • Payment Dates • • • Principal Installment Interest (Decemberl) • Amounts • • Rates 2016 • $20,000 • • 2.00% • 2020 6201 000 4.00 2021 645,000 4.00. 2022 670,000 5.00 2023 705,000 5.00 For so long as this bond is owned by the Alaska Municipal Bond Bank (the "Bond Bank"), payment of principal and interest shall be made as provided in the Loan • Agreement between the Bond Bank and the Borough dated as of September 1, 2003, as amended on April 1; 2007, September 1, 2011 and October 18, 2016 (collectively, the "Loan Agreement"). In the event that this bond is no longer owned by the Bond Bank, installments of 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 the close of business on the 15th day of the month preceding each installment payment date; provided, that the final installment of principal of and interest on this bond will be payable upon presentation and surrender of this bond by the Registered Owner at the office of the Registrar. Interest shall be computed on the basis of a 360-day year composed 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. -1- This bond is the South Kenai Peninsula Hospital Service Area General Obligation Refunding Bond, 2016 of the Kenai Peninsula Borough, Alaska, authorized for the purpose of refunding certain South Kenai Peninsula Hospital Service Area General Obligation Refunding Bond, 2007, and is issued under Resolution 2016-046 of the Borough entitled: A RESOLUTION AUTHORIZING THE KENAI PENINSULA BOROUGH TO ISSUE ITS. SOUTH KENAI PENINSULA HOSPITAL 'SERVICE AREA • GENERAL OBLIGATION REFUNDING BOND. IN THE PRINCIPAL . . AMOUNT: NOT TO,. EXCEED $3,000,000 TO:-, REFUND CERTAIN' OUTSTANDING SOUTH KENAI PENINSULA HOSPITAL SERVICE AREA : GENERAL OBLIGATION BONDS OF.THE BOROUGH, FIXING CERTAIN . DETAILS OF SUCH BOND AND AUTHORIZING THE SALE OF SUCH. BOND, AND PROVIDING FOR RELATED MATTERS;. (the "Resolution"). • ,. . , . . ' . Reference is hereby made to the Resolution and any , resolution supplemental thereto for, a description of the rights of the Registered .Owner and of the . rights and obligations of the Borough thereunder, to all of the provisions of which the Registered Owner,. by acceptance'of this bond, assents and agrees.. This bond is not subject to prepayment or to maturity This bond is transferable as provided.. in the Resolution (i)only upon the Bond Register .and (ii) upon surrender of this bond togetherwith a written' instrument of transfer. duly executed by the Registered Owner or the duly. authorized attorney of the Registered Owner, and thereupon a nOw fully registered Bond shall.be issued to the transferee in exchange therefor as provided intheResolutionand'tjp.on the payment of charges,. if any, as therein prescribed. The Borough ,and. the Registrar may treat and' consider the person in,Whose-name this bond is registered as 'the absolute owner.hereof for the purpose.of receiving pàyment'of, or on account of, the principal hereof and interest hereon and for all other purposes whatsoever This bond is a.direct and general obligation of the South Kenai Peninsula Hospital Service Area, and the fUll faith and credit of the South Kenal Peninsula Hospital Service Area are pledged to the payment of the principal of and interest on this bond. The Borough has irrevocably pledged and covenanted that it will levy and collect taxes upon all taxable property within the South Kenai Peninsula Hospital Service Area without limitation as to rate or amount, in amounts sufficient, together with other funds legally available therefor, to pay the principal of and interest on this bond as the same become due and payable. IT IS HEREBY CERTIFIED AND RECITED that all conditions, acts or things required by the constitution or statutes of the State of Alaska or the ordinances or resolutions of the Borough .to exist, to have happened or to have been performed precedent to or in the issuance of this bond, exist, have happened and have been performed, and that this bond, together with all other indebtedness of the Borough, is within every debt and other limit prescribed by said constitution, statutes, ordinances or resolutions. -2- IN WITNESS WHEREOF, THE KENAI PENINSULA BOROUGH, ALASKA, has -3- (Form of Assignment) ASSIGNMENT FOR VALUE RECEIVED, the undersigned sells assigns and transfers unto in -1- This Bond is one of the South Kenai Peninsula Hospital Service Area General Obligation Refunding Bonds, 2007 of the Kenai Peninsula Borough, Alaska of like tenor and effect except as to interest rate, serial number and maturity, aggregating $3,080,000 in principal amount, and constituting bonds authorized for the purpose of refunding prior bonds issued .to pay the cost of hospital capital improvements in the Borough, and is issued under Resolution 2006-096 of the Borough entitled: A..RESOLUTION AUTHORIZING THE KENAI PENINSULA BOROUGH TO ISSUE SOUTH KENAI PENINSULA_ HOSPITAL SERVICE AREA GENERAL OBLIGATION REFUNDING BONDS, 2007, IN THE PRINCIPAL AMOUNT OF NOT-TO-EXCEED $3,425,000 TO REFUND CERTAIN OUTSTANDING GENERAL OBLIGATION BONDS OF THE BOROUGH, • FIXING CERTAIN DETAILS . OF. SUCH BONDS, AUTHORIZING THEIR. SALE., AND PROVIDING FOR RELATED MATTERS. (herein called the "Resolution"). . .• . The Bond is subject to redemption .prior to maturity as described in the Loan Agreement. .. . . . . . . . . This Bond is transferable as provided in the Resolution, (i) only upon the bond registerof the. Borough, and (ii) upon surrender of this Bond tOgether with a written instrument of. transfer duly executed by the registered owner. or the duly authorized attorney of the registered owner, and thereupon a 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 the Resolution 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 the absolute 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. . . . . . This Bond is a general obligation of the South Kenai Peninsula Hospital Service Area, and the full faith and credit of the South Kenai Peninsula Hospital Service Area are pledged for the payment of the principal of and interest on the Bond as the same shall become due. IT IS HEREBY CERTIFIED AND RECITED that all conditions, acts or things required by the constitution or statutes of the State of Alaska to exist, to have happened or to have been performed precedent to or in the issuance of this Bond, exist, have happened and have been 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 said constitution or statutes. -2- -3- (Form of Assignment) ASSIGNMENT FOR VALUE RECEIVED, the undersigned sells assigns and transfers unto -4-