Tab_157eAl
Birch Horton Bittner & Cherot
a profassional corporation
Respond to Anchorage Office
T 907.263.7226 F 907.276.3680
November 3, 2016
Mayor and Council Members
City of Kodiak
710 Mill Bay Road
Kodiak, Alaska 99615
RBC Capital Markets, LLC
Two Embarcadero Center, Suite 2100
San Francisco, California 94111
Board of Directors
Alaska Municipal Bond Bank
Department of Revenue
333 Willoughby Avenue, 11th Floor
Juneau, Alaska 99811
Ladies and Gentlemen:
We are the duly appointed City Attorneys of the City of Kodiak, Alaska (the "Issuer").
This opinion is given in connection with issuance and sale by the Issuer of its $1,680,000
Harbor Revenue Refunding Bond, Series 2016A (the 'Bond"). The Bond is being sold to the
Alaska Municipal Bond Bank (the "Bond Bank") pursuant to a Loan Agreement dated as of
December 1, 2007, as amended by an Amendatory Loan Agreement dated as of October 18,
2016 (together, the "Loan Agreement"), between the Bond Bank and the Issuer.
We are of the opinion that
1. The execution and delivery of the Loan Agreement and the performance by the
Issuer of the terms and conditions of the Loan Agreement, including the issuance, sale and
delivery of the Bond, do not and will not conflict with or constitute a breach of, or a default
under, any existing law (including without limitation the Constitution of the State of Alaska and
the Home Rule Charter of the Issuer), any court or administrative regulation, decree or order, or
any agreement, indenture, mortgage, lease or other instrument to which the Issuer is a party or
is otherwise subject or bound.
2. No litigation is pending, or to our 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 collect revenues and other moneys pledged or to be pledged to pay
1127 West Seventh Ave. Anchorage, AK 99501-3301 1156 15th St. NW., Ste. 1020, Washington, D.C. 20005-1754
T 907.276.1550 800.478.1550 F 907.276.3680 1 T 202.659.5800 F 202.659.1027
Birch Horton Bittner & Cherot
a pmfessionat corporation
November 3, 2016
Page 2 of 2
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 or the Loan Agreement.
Sincerely,
BIRCH HORTON BITTNER & CHEROT