Tab_162I, AWE KNIAZIOWSKI, City Manager of the City of Kodiak, Alaska (the
"Issuer"), HEREBY CERTIFY that:
1. Pursuant to Resolution 2016-30(SUB) of the Issuer, I have approved the
aggregate principal amount, maturity amounts, 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 Boat Lift Special Facility Revenue Refunding
Bond, Series 2016A (the "2016A 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 "2016A Amendatory Loan Agreement"), between the Issuer and
the Alaska Municipal Bond Bank (the "Bond Bank") with respect to the 2016A Bond.
2. Pursuant to Resolution 2016-31(SUB) of the Issuer, I have approved the
aggregate principal amount, maturity amounts, 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 Boat Lift Special Facility Revenue Refunding
Bond, Series 2016B (the "201613 Bond" and together with the 2016A Bond, the "Bonds")
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 "201613 Amendatory
Loan Agreement"), between the Issuer and the Bond Bank with respect to the 2016B
Bond.
3. Pursuant to Resolution 201630(SUB) of the Issuer, I have designated the
Issuer's Boat Lift Special Facility Revenue Bond, 2007A (the "2007A Bond") maturing in
the years 2017 through 2037 to be refunded by exchange for the 2016A Bond, and find
that the refunding of the maturities of the 2007A Bond 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.
4. Pursuant to Resolution 2016-31(SUB) of the Issuer, I have designated the
Issuer's Boat Lift Special Facility Revenue Bond, 2009A (the "2009A Bond") maturing in
the years 2017 through 2037 to be refunded by exchange for the 2016B Bond, and find
that the refunding of the maturities of the 2009A Bond 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.
5. 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 Bonds, or in any manner questioning the authority or proceedings for the
authorization or issuance of the Bonds, or the right of the Issuer to collect revenues and
other moneys pledged or to be pledged to pay the principal of and interest on the
Bonds, or the pledge thereof, in any way contesting or affecting the validity or
enforceability of the Bonds, the Loan Agreement dated as December 1, 2007 between
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the Issuer and the Bond Bank with respect to the 2007A Bond, the Loan Agreement
dated as of January 1, 2009 with respect to the 2009A Bond, the 2016A Amendatory
Loan Agreement, or the 2016B Amendatory Loan Agreement.
6. The Annual Debt Service in each Fiscal Year on all Boat Lift Special
Facility Revenue Bonds to be Outstanding after the issuance of the Bonds will not be
greater than the Annual Debt Service in the same Fiscal Year if the refunding of the
2007A Bond and the 2009A Bond did not occur.
DATED this 3rd day of November, 2016.
CITY OF KODIAK, ALASKA
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AIMEE KNIAZrOWSKCity 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
2017 $ 85,000 2.00% 2028 $145,000 5.000%
2018 90,000 4.00 2029 205,000 3.000
2019 95,000 4.00 2030 215,000 3.125
2020 100,000 4.00 2031 220,000 3.125
2021 105,000 4.00 2032 225,000 3.250
2022 110,000 5.00 2033 240,000 3.250
2023 115,000 5.00 2034 245,000 3.375
2024 120,000 5.00 2035 250,000 3.375
2025 125,000 5.00 2036 260,000 3.375
2026 130,000 5.00 2037 270,000 3.375
2027 135,000 5.00
Redemption Provisions: Installments of principal of the Bond due on and after
December 1, 2028, shall be subject to prepayment on and after December 1, 2026, at
the option of the Issuer (subject to any applicable provisions of the Loan Agreement
dated as December 1, 2007 between the Issuer and the Bond Bank, as amended), in
such principal amounts and from such maturities as the Issuer may determine, and by
lot within a maturity, at a redemption price equal to the principal amount to be prepaid,
plus accrued interest to the date of prepayment.
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1 111 11 nc (I11T II I: TF TWI Li :
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
2017 $30,000 2.00% 2028 $45,000 5.000%
2018 30,000 4.00 2029 40,000 3.000
2019 30,000 4.00 2030 45,000 3.125
2020 30,000 4.00 2031 45,000 3.125
2021 30,000 4.00 2032 50,000 3.250
2022 35,000 5.00 2033 55,000 3.250
2023 35,000 5.00 2034 50,000 3.375
2024 35,000 5.00 2035 55,000 3.375
2025 40,000 5.00 2036 60,000 3.375
2026 40,000 5.00 2037 50,000 3.375
2027 45,000 5.00
Redemption Provisions: Installments of principal of the Bond due on and after
December 1, 2028, shall be subject to prepayment on and after December 1, 2026, at
the option of the Issuer (subject to any applicable provisions of the Loan Agreement
dated as of January 1, 2009, as amended), in such principal amounts and from such
maturities as the Issuer may determine, and by lot within a maturity, at a redemption
price equal to the principal amount to be prepaid, plus accrued interest to the date of
prepayment.
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