Tab_1731 II [i1..'1i.] sI f1'iT e]
I, AIMEE KNIAZIOWSKI, City Manager of the City of Kodiak, Alaska (the
"Issuer"), HEREBY CERTIFY that:
1. Pursuant to Resolution Number 2015-25 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 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 Number 2015-25 of the Issuer, I have designated
the Issuer's General Obligation Bond, 2008 Series A maturing in the years 2019 through
2038 to be refunded by exchange for the Bond, and find that the refunding of the
maturities of the General Obligation 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, or in any way contesting or affecting the validity or enforceability of the Bond,
the Amendatory Loan Agreement or the Loan Agreement dated as April 1, 2008
between the Issuer and the Bond Bank.
DATED this 3rd day of November, 2016.
CITY OF KODIAK, ALASKA
A1MEE KMAZEOWSK!, City Manager
505786\83\00553567
inr
jII1IIICI!I I IT III Mi l IS.UMI1 1I11! IflI1 :1iT Ls II1
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 I 5th 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 $ 5,000 2.00% 2028 $325,000 5.00%
2018 205,000 4.00 2029 340,000 3.00
2019 215,000 4.00 2030 350,000 3.125
2020 225,000 4.00 2031 360,000 3.125
2021 230,000 4.00 2032 375,000 3.250
2022 240,000 5.00 2033 390,000 3.250
2023 255,000 5.00 2034 400,000 3.375
2024 270,000 5.00 2035 410,000 3.375
2025 280,000 5.00 2036 430,000 3.375
2026 295,000 5.00 2037 440,000 3.375
2027 315,000 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 April 1, 2008 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.
505786\83\00553567