The URL can be used to link to this page

Tab_180CERTIFICATE OF BOROUGH CLERK KODIAK ISLAND BOROUGH, ALASKA I. Nova M. Javier, MMC, hereby certify as follows: 1. I am the duly appointed, qualified and acting Borough Clerk of the Kodiak Island Borough, Alaska (the "Borough"), and as such am authorized to execute this certificate. 2. Attached hereto is a true and correct copy of Resolution No. FY2008-12 of the Borough, adopted by the Borough Assembly on December 6, 2007, and duly recorded in my office; and Resolution No. FY2008-12 has not been amended, modified, superseded, rescinded, or repealed since the date of adoption thereof. 3. Attached hereto is a true and correct copy of Resolution No. FY2017-10 of the Borough, adopted by the Borough Assembly on September 6, 2016, and duly recorded in my office. 4. The Borough Assembly meeting of September 6, 2016, was duly convened and held in all respects in accordance with law; to the extent required by law, due and proper notice of such meeting was given; a quorum was present throughout such meeting and a legally sufficient number of members of the Borough Assembly voted in the proper manner for adoption of Resolution No. FY20 17-10; all of the requirements and proceedings incident to the proper adoption of Resolution No. FY20 17-10 have been duly fulfilled, carried out and otherwise observed; and Resolution No. FY2017-10 has not been amended, modified, superseded, rescinded, or repealed since the date of adoption thereof. IN WITNESS WHEREOF, I have executed this certificate and impressed the seal of the Borough hereon as of this 3rd day of November, 2016. [SEAL] KODIAK ISLAND BOI2U4H, ALASKA V Nova M. Javier, MMC, Bor 1 ugh Clerk Introduced by: Manager Gifford Requested by: Karl Short, Finance Director Drafted by: Bond Counsel Introduced: 12/06/2007 Adopted: 12/06/2007 KODIAK ISLAND BOROUGH RESOLUTION NO, FY2008-12 A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY AUTHORIZING THE BOROUGH TO ISSUE GENERAL OBLIGATION SCHOOL BONDS, 2008 SERIES A IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $8,000,000 TO PROVIDE FUNDS FOR SCHOOL AND RELATED CAPITAL IMPROVEMENTS IN THE BOROUGH AND TO PAY COSTS OF ISSUING THE BONDS, FIXING CERTAIN DETAILS OF SUCH BONDS, AUTHORIZING THEIR SALE, AND PROVIDING FOR RELATED MATTERS WHEREAS, pursuant to Ordinance No. FY 2007-05 of the Kodiak Island Borough, Alaska (the "Borough"), adopted on August 17, 2006, a question whether the Borough should issue not to exceed $8,000,000 in general obligation bonds for the purpose of financing the planning, design and construction of school and related capital improvements in the Borough, referred to at the regular Borough election held on October 3, 2006 as Proposition No. 1 ("Proposition 1"), was passed and approved; and WHEREAS, said election has been duly canvassed and the results thereof certified and confirmed in accordance with law, and $8,000,000 principal amount of general obligation bonds remains unissued under Proposition 1; and WHEREAS, the Assembly finds that it is in the best interest of the Borough to plan, design and construct the school capital improvements described in Proposition 1 as the New School Pool, 6-Lane, 1 Diving Board (the "Project"), and to issue not to exceed $8,000,000 principal amount of general obligation bonds referred to in Proposition 1, to pay costs of the Project and costs of issuing the bonds; and WHEREAS, Section 29.47.410 of the Alaska Statutes provides that the Assembly by resolution may provide for the form and manner of sale of bonds and notes; and WHEREAS, the Assembly finds that it is necessary and appropriate to delegate to each of the Borough Manager and Borough Finance Director authority to determine the maturity amounts, interest rates and other details of the bonds, and to determine other matters that are not provided for in this resolution; and WHEREAS, there has been presented to the Borough the form of a Loan Agreement between the Alaska Municipal Bond Bank and the Borough, which provides for the Alaska Municipal Bond Bank to purchase the bonds on the terms and conditions set forth therein and in this resolution, and it is in the best interest of the Borough that the Borough sell the bonds to the Alaska Municipal Bond Bank under such terms and conditions. NOW, THEREFORE, BE IT RESOLVED BY THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH THAT: Section 1; Definitions. In addition to terms which are defined in the recitals above, the following terms shall have the following meanings in this resolution: Kodiak Island Borough, Alaska Resolution No. FY2008-12 Page 1 of 11 (a) "Assembly" means the Assembly of the Kodiak Island Borough, as the general legislative authority of the Kodiak Island Borough, as the same shall be duly and regularly constituted from time to time. (b) "Bond" or "Bonds" means any of the "General Obligation School Bonds, 2008 Series A" of the Kodiak Island Borough, the issuance and sale of which are authorized herein. (c) Bond Bank' means the Alaska Municipal Bond Bank, a public corporation of the State of Alaska. (d) Bond Bank Bonds" means general obligation bonds issued by the Bond Bank after the date of this Resolution, all or part of the proceeds of which are used to purchase all of the Bonds. (e) "Bond Register" means the registration books maintained by the Registrar, which include the names and addresses of the Registered Owners of the Bonds or their nominees. (f) "Borough" means the Kodiak Island Borough, a municipal corporation of the State of Alaska, organized as a second class Borough under Title 29 of the Alaska Statutes. (g) "Code" means the Internal Revenue Code of 1986, as amended from time to time, together with all regulations applicable thereto. (h) "Cost" or "Costs" means the cost of planning, designing, acquiring property for, acquiring, constructing, installing and equipping the Project, including interest on the Bonds during the period of planning, designing, acquiring property for, acquiring, constructing, installing and equipping the Project, the cost whether incurred by the Borough or by another of field surveys and advance planning undertaken in connection with the Project properly allocable to the Project, the cost of acquisition of any land or interest therein required as the site or sites of the Project or for use in connection therewith, the cost of any indemnity and surety bonds and premiums on insurance incurred in connection with the Project prior to or during construction thereof, all related direct administrative and inspection expenses whether incurred by the Borough or by another in connection with the Project prior to or during construction thereof and allocable portions of direct costs of the Borough, legal fees, costs of issuance of the Bonds by the Borough, including financing charges and fees and expenses of bond counsel, financial advisors and consultants in connection therewith, the cost of any bond insurance premium and bond ratings, the cost of audits, the cost of all machinery, apparatus and equipment, cost of engineering, architectural services, designs, plans, specifications and surveys, estimates of cost, the reimbursement of all moneys advanced from whatever source for the payment of any item or items of cost of the Project, and all other expenses necessary or incidental to the acquisition and development of the Project, the financing thereof and the putting of the same in use and operation. Kodiak Island Borough, Alaska Resolution No, FY2008-12 Page 2 of 11 (i) 'Government Obligations" means obligations that are either (I) direct obligations of the United States of America or (ii) obligations of an agency or instrumentality of the United States of America the timely payment of the principal of and interest on which are unconditionally guaranteed by the United States of America U) "Loan Agreement" means the Loan Agreement between the Borough and the Bond Bank concerning the Bonds. (k) "Registered Owner" means the person named as the registered owner of a Bond in the Bond Register. (I) "Registrar" means the Borough Treasurer. (m) "Resolution" means this Resolution No. FY2008-_ of the Borough. Section 2: Authorization of Bonds and Purpose of Issuance. For the purpose of providing part of the funds required to pay the Costs of the Project, to provide for original issue discount, if any, and to pay all costs incidental thereto and to the issuance of the Bonds, the Borough hereby authorizes and determines to issue and sell the Bonds in the aggregate principal amount of not to exceed $8,000,000. Section 3: Obligation of Bonds. The Bonds shall be direct and general obligations of the Borough and the full faith and credit of the Borough are hereby pledged to the payment of the principal of and interest on the Bonds. The Borough hereby irrevocably pledges and covenants that it will levy and collect taxes upon all taxable property within the Borough 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 the Bonds as the same become due and payable. Section 4: Designation, Maturities, Interest Rates, and Other Details of Bonds. The Bonds shall be designated "Kodiak Island Borough, Alaska, General Obligation School Bonds, 2008 Series A." The Bonds shall be in the denomination of $5,000 or any integral multiple thereof, shall be numbered separately in the manner and with such additional designation as the Registrar deems necessary for purposes of identification, and may have endorsed thereon such legends or text as may be necessary or appropriate to conform to the rules and regulations of any governmental authority or any usage or requirement of law with respect thereto. The Bonds shall mature in one or more years commencing no earlier than 2008 and ending no later than 2030, with the principal amount of each maturity not exceeding $1,000,000. The Bonds shall bear interest from their date, payable commencing on a date on or after July 1, 2008, and semi-annually thereafter in each year. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. Subject to Section 2 and the remainder of this section, the dated date, the principal and interest payment dates, the record dates for interest payments, the aggregate principal amount, the principal amount of each maturity, and the interest rates on the Bonds shall be determined at the time of execution of the Loan Agreement under Section 17. Kodiak Island Borough, Alaska Resolution No. FY2008-12 Page 3 of 11 Section 5: Optional Redemption. The Bonds, if any, subject to optional redemption by the Borough, the time or times when such Bonds are subject to optional redemption, the terms upon which such Bonds may be redeemed, and the redemption price or redemption prices for such Bonds, shall be determined at the time of execution of the Loan Agreement under Section 17. Section 6: Selection of Bonds for Redemption; Notice of Redemption. (a) Selection of Bonds for Redemption. When the Bond Bank is the Registered Owner of the Bonds, the selection of Bonds to be redeemed shall be made as provided in the Loan Agreement. When the Bond Bank is not the Registered Owner of the Bonds, the selection of Bonds to be redeemed shall be made as provided in this subsection (a). If the Borough redeems at any one time fewer than all of the Bonds having the same maturity date, the particular Bonds or portions of Bonds of such maturity to be redeemed shall be selected by lot (or in such other manner determined by the Registrar) in increments of $5,000. In the case of a Bond of a denomination greater than $5000, the Borough shall treat such Bond as representing such number of separate Bonds each of the denomination of $5000 as is obtained by dividing the actual principal amount of such Bond by $5,000. In the event that only a portion of the principal amount of a Bond is redeemed, upon surrender of such Bond at the office of the Registrar there shall be issued to the Registered Owner, without charge therefor, for the then unredeemed balance of the principal sum thereof, at the option of the Registered Owner, a Bond or Bonds of like maturity and interest rate in any of the denominations authorized herein. (b) Notice of Redemption. When the Bond Bank is the Registered Owner of the Bonds, notice of any intended redemption of Bonds shall be given as provided in the Loan Agreement. When the Bond Bank is not the Registered Owner of the Bonds, notice of any intended redemption of Bonds shall be made as provided in this subsection (b). Notice of redemption shall be mailed not less than 30 nor more than 45 days prior to the date fixed for redemption by first class mail to Registered Owners of the Bonds to be redeemed at their addresses as they appear on the Bond Register on the day the notice is mailed. Notice of redemption shall be deemed to have been given when the notice is mailed as herein provided, whether or not it is actually received by the Registered Owners. All notices of redemption shall be dated and shall state: (1) the redemption date; (2) the redemption price; (3) if fewer than all outstanding Bonds are to be redeemed, the identification (and, in the case of partial redemption, the respective principal amounts) of the Bonds to be redeemed; (4) that on the redemption date the redemption price will become due and payable upon each such Bond or portion thereof called for redemption, and that interest thereon shall cease to accrue from and after said date; and (5) the place where such Bonds are to be surrendered for payment of the redemption price, which place of payment shall be the office of the Registrar. Official notice of redemption having been given as aforesaid, Bonds or portions of Bonds to be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified, and from and after such date, such Bonds or portions of Bonds shall cease to bear interest. Upon surrender of such Bonds for redemption in accordance with said notice, such Bonds shall be Kodiak Island Borough, Alaska Resolution No. Fv200812 Page 4 of 11 paid at the redemption price. Installments of interest due on or prior to the redemption date shall be payable as herein provided for payment of interest. Upon surrender of any Bond for partial redemption, there shall be prepared for the Registered Owner a new Bond or Bonds of the same maturity in the amount of the unpaid principal. All Bonds which have been redeemed shall be canceled and destroyed by the Registrar and shall not be reissued. Each check or other transfer of funds issued to pay the redemption price of Bonds shall bear the CUSIP number, if any, identifying, by maturity, the Bonds being redeemed with the proceeds of such check or other transfer. Section 7: Form of Bond. Each Bond shall be in substantially the following form, with such variations, omissions and insertions as may be required or permitted by this Resolution: UNITED STATES OF AMERICA STATE OF ALASKA KODIAK ISLAND BOROUGH (A Municipal Corporation of the State of Alaska) me $ GENERAL OBLIGATION SCHOOL BOND, 2008 SERIES A REGISTERED OWNER: PRINCIPAL AMOUNT: The Kodiak Island Borough (the "Borough), a municipal corporation of the state of Alaska, hereby acknowledges itself to owe and for value received promises to pay to the Registered Owner identified above, or its registered assigns, the principal amount shown above in the following installments on of each of the following years, and to pay interest on such installments from the date hereof, payable on 200_ and semiannually thereafter on the days of and of each year, at the rates per annum as follows: Principal Interest Year Amount When 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 (the "Loan Agreement"). When this Bond is not owned by the Bond Bank, installments of principal 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 day of the Kodiak Island Borough, Alaska Resolution No. FY2008-12 Page 5 of 11 month each installment payment date; provided that the final installment of principal and interest on this Bond shall be payable upon presentation and surrender of this Bond by the Registered Owner at the office of the Registrar. Interest will be computed on the basis of a 360-day year consisting 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. This Bond is one of the General Obligation School Bonds, 2008 Series A of the Kodiak Island Borough, Alaska, of like tenor and effect except as to interest rate, serial number and maturity, aggregating $_______________ in principal amount, and constituting Bonds authorized for the purpose of paying the cost of school and related capital improvements in the Borough, and is issued under Resolution No. FY2008- of the Borough entitled: A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY AUTHORIZING THE BOROUGH TO ISSUE GENERAL OBLIGATION SCHOOL BONDS, 2008 SERIES A IN THE PRINCIPAL AMOUNT OF NOT TO EXCEED $8,000,000 TO PROVIDE FUNDS FOR SCHOOL AND RELATED CAPITAL IMPROVEMENTS IN THE BOROUGH AND TO PAY COSTS OF ISSUING THE BONDS, FIXING CERTAIN DETAILS OF SUCH BONDS, AUTHORIZING THEIR SALE, AND PROVIDING F?OR RELATED MATTERS (the "Resolution"). Installments of principal of this Bond due on and after , 20_, shall be subject to prepayment on and after __________, 20_, at the option of the Borough (subject to any applicable provisions of the Loan Agreement), in such principal amounts and from such maturities as the Borough 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- This Bond is transferable as provided in the Resolution, (i) only upon the bond register of 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 Kodiak Island Borough, and the full faith and credit of the Borough are pledged for the payment of the principal of and interest on the Bond as the same shall become due. Kodiak Island Borough, Alaska Resolution No. FY2008-12 Page 6 of 11 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. IN WITNESS WHEREOF, THE KODIAK ISLAND BOROUGH, ALASKA, has caused this Bond to be signed in its name and on its behalf by the manual or facsimile signature of its Mayor and its corporate seal (or a facsimile thereof) to be impressed or otherwise reproduced hereon and attested by the manual or facsimile signature of its Clerk, all as of the ______ day of 2008. Mayor A T T E S T: Clerk [SEAL] Section 8: Execution. The Bonds shall be executed in the name of the Borough by the manual or facsimile signature of the Mayor, and its corporate seal (or a facsimile thereof) shall be impressed or otherwise reproduced thereon and attested by the manual or facsimile signature of the Borough Clerk. The execution of a Bond on behalf of the Borough by persons who at the time of the execution are duly authorized to hold the proper offices shall be valid and sufficient for all purposes, although any such person shall have ceased to hold office at the time of delivery of the Bond or shall not have held office on the date of the Bond. Section 9: Payment of Principal and Interest. The Bonds shall be payable in lawful money of the United States of America which at the time of payment is legal tender for the payment of public and private debts. When the Bond Bank is the Registered Owner of the Bonds, payment of principal and interest on the Bonds shall be made as provided in the Loan Agreement. When the Bond Bank is not the Registered Owner of the Bonds, installments of principal and interest on the Bonds shall be paid by check mailed by first class mail to the Registered Owner as of the record date for the installment payment at the address appearing on the Bond Register; provided that the final installment of principal and interest on a Bond shall be payable upon presentation and surrender of the Bond by the Registered Owner at the office of the Registrar. Section 10: Registration. The Bonds shall be issued only in registered form as to both principal and interest. The Borough designates the Borough Treasurer as Registrar for the Bonds, The Registrar shall keep, or cause to be kept, the Bond Register at the principal office of the Borough. The Borough covenants that, until all Bonds have been surrendered and canceled, it will maintain a system for Kodiak Island Borough, Alaska Resolution No. FY2008-12 Page 7 of 11 recording the ownership of each Bond that complies with the provisions of Section 149 of the Code. The Borough and the Registrar may treat the person in whose name any Bond shall be registered as the absolute owner of such Bond for all purposes, whether or not the Bond shall be overdue, and all payments of principal of and interest on a Bond made to the Registered Owner thereof or upon its order shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid, and neither the Borough nor the Registrar shall be affected by any notice to the contrary. Section 11: Transfer and Exchange. Bonds shall be transferred only upon the books for the registration and transfer of Bonds kept at the office of the Registrar. Upon surrender for transfer or exchange of any Bond at such office, with a written instrument of transfer or authorization for exchange in form and with guaranty of signature satisfactory to the Registrar, duly executed by the Registered Owner or the duly authorized attorney of the Registered Owner, the Borough shall execute and deliver an equal aggregate principal amount of Bonds of the same maturity of any authorized denominations, subject to such reasonable regulations as the Borough may prescribe and upon payment sufficient to reimburse it for any tax, fee or other governmental charge required to be paid in connection with such transfer or exchange. All Bonds surrendered for transfer or exchange shall be canceled by the Registrar. Section 12: Bonds Mutilated, Destroyed, Stolen or Lost. Upon surrender to the Registrar of a mutilated Bond, the Borough shall execute and deliver a new Bond of like maturity and principal amount. Upon filing with the Registrar of evidence satisfactory to the Borough that a Bond has been destroyed, stolen or lost and of the ownership thereof, and upon furnishing the Borough with indemnity satisfactory to it, the Borough shall execute and deliver a new Bond of like maturity and principal amount. The person requesting the execution and delivery of a new Bond under this section shall comply with such other reasonable regulations as the Borough may prescribe and pay such expenses as the Borough may incur in connection therewith. Section 13: Disposition of the Sale Proceeds of the Bonds. The sale proceeds of the Bonds representing accrued interest on the Bonds shall be applied to pay a portion of the interest due on the Bonds on the first interest payment date for the Bonds. The sale proceeds of the Bonds representing original issue premium on the Bonds shall be applied to pay issuance costs of the Bonds, a portion of the interest due on the Bonds on the first interest payment date for the Bonds, or Costs of the Project, and shall be deposited in such manner, as the Borough Manager or the Borough Finance Director may determine. The remaining sale proceeds of the Bonds shall be applied to pay Costs of the Project and issuance costs of the Bonds, and shall be deposited in the appropriate funds or accounts of the Borough for such purposes. Section 14: Tax Covenants, The Borough covenants to comply with any and all applicable requirements set forth in the Code in effect from time to time to the extent that such compliance shall be necessary for the exclusion of the interest on the Bonds from gross income for federal income tax purposes. The Borough covenants that it will make no use of the proceeds of the Bonds which will cause the Bonds to be "arbitrage bonds" subject to federal income taxation by reason of Kodiak Island Borough, Alaska Resolution No. FY2008-12 Page 8 of 11 Section 148 of the Code. The Borough covenants that it will not take or permit any action that would cause the Bonds to be "private activity bonds" as defined in Section 141 of the Code. Section 15: Amendatory and Supplemental Resolutions. (a) The Assembly from time to time and at any time may adopt a resolution or resolutions supplemental hereto, which resolution or resolutions thereafter shall become a part of this Resolution, for any one or more of the following purposes: (1) To add to the covenants and agreements of the Borough in this Resolution, other covenants and agreements thereafter to be observed, or to surrender any right or power herein reserved to or conferred upon the Borough. (2) To make such provisions for the purpose of curing any ambiguities or of curing, correcting or supplementing any defective provision contained in this Resolution or in regard to matters or questions arising under this Resolution as the Assembly may deem necessary or desirable and not inconsistent with this Resolution and which shall not adversely affect the interests of the Registered Owners of the Bonds. Any such supplemental resolution may be adopted without the consent of the Registered Owners of any of the Bonds at any time outstanding, notwithstanding any of the provisions of subsection (b) of this section. (b) With the consent of the Registered Owners of not less than 60 percent in aggregate principal amount of the Bonds at the time outstanding, the Assembly may adopt a resolution or resolutions supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Resolution or of any supplemental resolution; provided, however, that no such supplemental resolution shall: (1) Extend the fixed maturity of any of the Bonds, or reduce the rate of interest thereon, or extend the time of payments of interest from their due date, or reduce the amount of the principal thereof, or reduce any premium payable on the redemption thereof, without the consent of the Registered Owners of each Bond so affected; or (2) Reduce the aforesaid percentage of Registered Owners of Bonds required to approve any such supplemental resolution without the consent of the Registered Owners of all of the Bonds then outstanding. It shall not be necessary for the consent of the Registered Owners of the Bonds under this subsection to approve the particular form of any proposed supplemental resolution, but it shall be sufficient if such consent approves the substance thereof. (c) Upon the adoption of any supplemental resolution under this section, this Resolution shall be deemed to be modified and amended in accordance Kodiak Island Borough, Alaska Resolution No. FY2008-12 Page 9 of 11 therewith, and the respective rights, duties and obligations under this Resolution of the Borough and all Registered Owners of outstanding Bonds shall thereafter be subject in all respects to such modification and amendment, and all the terms and conditions of the supplemental resolution shall be deemed to be part of the terms and conditions of this Resolution for any and all purposes. (d) Bonds executed and delivered after the execution of any supplemental resolution adopted under this section may bear a notation as to any matter provided for in such supplemental resolution, and if such supplemental resolution shall so provide, new Bonds modified so as to conform, in the opinion of the Borough, to any modification of this Resolution contained in any such supplemental resolution may be prepared by the Borough and delivered without cost to the Registered Owners of the Bonds then outstanding, upon surrender for cancellation of such Bonds in equal aggregate principal amounts. Section 16: Pfasance. In the event money and/or non-callable Government Obligations maturing at such times and bearing interest to be earned thereon in amounts sufficient to redeem and retire any or all of the Bonds in accordance with their terms are set aside in a special trust account to effect such redemption or retirement and such moneys and the principal of and interest on such Government Obligations are irrevocably set aside and pledged for such purpose, then no further payments need be made to pay or secure the payment of the principal of and interest on such Bonds and such Bonds shall be deemed not to be outstanding. Section 17: Sale of Bonds. The Bonds shall be sold at negotiated sale to the Bond Bank as provided in the Loan Agreement. Subject to the limitations provided in Sections 2 and 4, each of the Borough Manager and the Borough Finance Director is hereby authorized to determine the aggregate principal amount, maturity amounts, interest rates, yields, dated date, principal and interest payment dates, redemption terms, if any, for the Bonds, and other details of the Bonds; provided that the true interest cost of the Bonds, expressed as an annual rate, does not exceed 6.5 percent. In determining the maturity amounts, sinking fund installments, if any, interest rates, yields, and redemption terms, if any, for the Bonds, the Borough Manager or Borough Finance Director shall take into account those factors which, in his judgment, will result in the lowest true interest cost on the Bonds to their maturity, including without limitation current financial market conditions and current interest rates for obligations comparable in tenor and quality to the Bonds. Based upon the foregoing determinations, the Borough Manager and the Borough Finance Director each is authorized to execute the Loan Agreement, in substantially the form presented at this meeting. Section 18: Official Statement. The distribution of the preliminary Official Statement for the Bond Bank Bonds in substantially the form presented at this meeting is approved as it pertains to the Borough and the Bonds. The information in the preliminary Official Statement relating to the Borough and the Bonds may be modified as the Borough Manager or Borough Finance Director may determine. The Borough Manager and Borough Finance Director each is hereby authorized to approve the form of the final Official Statement for the Bond Bank Bonds as it pertains to the Borough and the Bonds. Kodiak Island Borough, Alaska Resolution No. FY2008-12 Page 100111 Section 19: Authority of Officers, The Mayor, the acting Mayor, the Borough Manager, the acting Borough Manager, the Borough Finance Director, the acting Borough Finance Director, the Borough Clerk, and the acting Borough Clerk each is authorized and directed to do and perform all things and determine all matters not determined by this Resolution, to the end that the Borough may carry out its obligations under the Bonds and this Resolution. Section 20: Miscellaneous. (a) All payments made by the Borough of, or on account of, the principal of or interest on the Bonds shall be made on the several Bonds ratably and in proportion to the amount due thereon, respectively, for principal or interest as the case may be. (b) No recourse shall be had for the payment of the principal of or the interest on the Bonds or for any claim based thereon or on this Resolution against any member of the Assembly or officer of the Borough or any person executing the Bonds. The Bonds are not and shall not be in any way a debt or liability of the State of Alaska or of any political subdivision thereof, except the Borough, and do not and shall not create or constitute an indebtedness or obligation, either legal, moral or otherwise, of said state or of any political subdivision thereof, except the Borough. Section 21: Severability. If any one or more of the provisions of this Resolution shall be declared by any court of competent jurisdiction to be contrary to law, then such provision shall be null and void and shall be deemed separable from the remaining provisions of this Resolution and shall in no way affect the validity of the other provisions of this Resolution or of the Bonds. Section 22: Effective Date. This Resolution shall become effective upon passage and approval. ADOPTED BY THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH THIS SIXTH DAY OF DECEMBER, 2007 ATTEST: I lm~QW'X~- Nov M. Javier, CMC Clerk KODIAK ISLAND BOROUGH S~_' Ita-4 Je~Jme M. Selby, Kodiak Island Borough, Alaska Resolution No. FY2008-12 Page 11 0111 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 Introduced by: Borough Manager Requested by: Finance Director Drafted by Bond Counsel Introduced on: 09/15/2016 Adopted on: 09/15/2016 KODIAK ISLAND BOROUGH RESOLUTION NO. FY2017-10 A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY AUTHORIZING THE BOROUGH TO ISSUE A GENERAL OBLIGATION SCHOOL REFUNDING BOND TO REFUND CERTAIN PRINCIPAL INSTALLMENTS OF AN OUTSTANDING GENERAL OBLIGATION SCHOOL BOND OF THE BOROUGH AND TO PAY COSTS OF ISSUING THE BOND, FIXING CERTAIN DETAILS OF SUCH BOND, AUTHORIZING ITS SALE, AND PROVIDING FOR RELATED MATTERS WHEREAS, pursuant to Ordinance No, FY2007-05 of the Kodiak Island Borough, Alaska (the "Borough"), adopted on August 17, 2006, approved by a majority of the qualified voters voting on the proposition at the regular Borough election held on October 3, 2006, and Resolution No. FY2008-12, adopted December 6, 2007 (the "Bond Resolution"), the Borough issued its General Obligation School Bond, 2008 Series A (the "2008 Bond") in the original principal amount of $8,000,000, of which $5620000 is now outstanding; and WHEREAS, under AS 29.47.300, if the Borough has outstanding general obligation bonds and the Assembly determines it would be financially advantageous to refund those bonds, the Borough may provide by resolution for the issuance of general obligation refunding bonds, and under AS 29.47.320, no election is required to authorize the issuance and sale of refunding bonds; and WHEREAS, under AS 29.47.340, refunding bonds may be exchanged for the bonds being refunded; and WHEREAS, the Borough sold the 2008 Bond to the Alaska Municipal Bond Bank Authority (the "Bond Bank"), as authorized by the Bond Resolution, on the terms and conditions set forth In the Bond Resolution and in the loan agreement between the Borough and the Bond Bank dated as of April 1, 2008 (the "2008 Loan Agreement"); and WHEREAS, the Bond Bank issued its General Obligation Bonds, 2008 Series One (the "2008 Bond Bank Bonds"), among other purposes, to provide funds to purchase the 2008 Bond, as provided in the 2008 Loan Agreement; and WHEREAS, the Bond Bank has expressed its intent to issue refunding bonds (the "Bond Bank Refunding Bonds") for the purpose of refunding a portion of the 2008 Bond Bank Bonds and achieving a debt service savings; and WHEREAS, Section 6 of the 2008 Loan Agreement provides that payments of principal of and interest on the 2008 Bond may be adjusted to reduce debt service on the 2008 Bond if the Bond Bank is able to achieve debt service savings by refunding the 2008 Bond Bank Bonds; and WHEREAS, the Bond Bank has offered to enter into an Amendatory Loan Agreement (the "Amendatory Loan Agreement") to effect a reduction in debt service on all or a portion of the principal installments of the 2008 Bond payable on or after April 1, 2017 (the "Refundable Principal Installments"); and Kodiak Island Borough, Alaska Resolution No, FY2017-10 Page 1 of 9 54 WHEREAS, the Assembly wishes to effect a reduction in debt service on all or a portion of the 55 Refundable Principal Installments by entering into the Amendatory Loan Agreement, issuing the Bond 56 (and a replacement 2006 Bond) in exchange for the 2008 Bond and participating in the refunding of a 57 portion of the 2008 Bond Bank Bonds; and 58 59 WHEREAS, the Assembly finds that it is necessary and appropriate to delegate to each of the 60 Borough Manager and Borough Finance Director authority to determine the maturity amounts, 61 interest rates, and other details of the bonds, and to determine other matters that are not provided for 62 in this Resolution; 63 64 NOW, THEREFORE, BE IT RESOLVED BY THE ASSEMBLY OF THE KODIAK ISLAND 65 BOROUGH THAT: 66 67 Section 1: Definitions. In addition to terms which are defined in the recitals above, the following 68 terms shall have the following meanings in this Resolution: 69 70 (a) "Assembly" means the Assembly of the Kodiak Island Borough, as the 71 general legislative authority of the Kodiak Island Borough, as the same shall be duly 72 and regularly constituted from time to time. 73 74 (b) ".Qjf means the "General Obligation School Refunding Bond" of the Kodiak 75 Island Borough, the issuance and sale of which are authorized herein. 76 77 (c) "Bond Bank Bonds" means the series of general obligation bonds issued by 78 the Bond Bank, all or part of the proceeds of which are used to purchase the Bond. 79 80 (d) "Bond Register" means the registration books maintained by the Registrar, 81 which include the names and addresses of the Registered Owners of the Bond or 82 their nominees. 83 84 (e) "Borough" means the Kodiak Island Borough, a municipal corporation of the 85 State of Alaska, organized as a second class borough under Title 29 of the Alaska 86 Statutes. 87 88 (f) "Borough Manager" means the Manager or Administrative Official of the 89 Borough. go 91 (g) means the Internal Revenue Code of 1986, as amended from time to 92 time, together with all regulations applicable thereto. 93 94 (Ii) "Government Obligations" means obligations that are either (I) direct 95 obligations of the United States of America or (ii) obligations of an agency or 96 instrumentality of the United States of America the timely payment of the principal of 97 and interest on which are unconditionally guaranteed by the United States of 98 America. 99 100 (i) "Registered Owner" means the person named as the registered owner of a 101 Bond in the Bond Register, 102 103 (j) "Registrar" means the Borough Finance Director, or any successor that the 104 Borough may appoint by resolution. 105 106 (k) "Resolution" means this Resolution No, FY2017-10 of the Borough. 107 Kodiak Island Borough, Alaska Resolution No. FY201710 Page 2 of 9 108 Section 2: Authorization of Bond and Purpose of Issuance. The Assembly hereby determines it 109 would be financially advantageous to refund all or a portion of the Refundable 110 Principal Installments by issuing the Bond (and a replacement 2008 Bond) on the 111 terms and conditions provided in this Resolution. For the purpose of providing the 112 funds required to refund all or a portion of the Refundable Principal Installments and 113 to pay all costs incidental thereto and to the issuance of the Bond, the Borough 114 hereby authorizes and determines to issue and sell the Bond In the principal amount 115 of not to exceed $6,000,000. The Bond shall be designated "Kodiak Island Borough 116 General Obligation School Refunding Bond," with such additional series and year 117 designation as the Borough Manager or the Borough Finance Director may fix and 118 determine. 119 120 The Borough Manager and/or the Borough Finance Director are hereby authorized to 121 fix and determine which of the Refundable Principal Installments are to be refunded 122 by issuing the Bond (and a replacement 2008 Bond) in exchange therefor. 123 124 Section 3: Obligation of Bond. The Bond shall be a direct and general obligation of the 125 Borough, and the full faith and credit of the Borough are hereby pledged to the 126 payment of the principal of and interest on the Bond. The Borough hereby irrevocably 127 pledges and covenants that it will levy and collect taxes upon all taxable property 128 within the Borough without limitation as to rate or amount, in amounts sufficient 129 together with other funds legally available therefor, to pay the principal of and interest 130 on the Bond as the same become due and payable. 131 132 Section 4: Designation, Maturities, Interest Rates, and Other Details of Bond. The Bond shall 133 be designated "Kodiak Island Borough, Alaska, General Obligation School Refunding 134 Bond." Each principal installment of the Bond shall be in the denomination of $5,000 135 or any integral multiple thereof, shall be numbered in the manner and with such 136 additional designation as the Registrar deems necessary for purposes of 137 identification, and may have endorsed thereon such legends or text as may be 136 necessary or appropriate to conform to the rules and regulations of any governmental 139 authority or any usage or requirement of law with respect thereto. 140 141 The Bond shall bear interest payable semi-annually on the dates and shall mature on 142 the date and each principal installment shall be payable annually in the amount and 143 on the dates, all as shall be set forth in the Amendatory Loan Agreement. Interest will 144 be computed on the basis of a 360-day year consisting of twelve 30-day months. 145 146 Subject to Section 2 and the remainder of this Section, the dated date, the principal 147 installment and interest payment dates, the record dates for interest payments, the 148 aggregate principal amount, the amount of each principal installment, and the Interest 149 rate on each principal installment shall be determined at the time of execution of the 150 Amendatory Loan Agreement under Section 15, provided that (I) no rate of interest 151 on any principal installment shall exceed the rate of interest on the corresponding 152 maturity of the Bond Bank Refunding Bonds; and (ii) the net present value of the 153 savings to the Borough effected by issuing the Bond (and a replacement 2008 Bond) 154 and refunding the Refundable Principal Installments that are refunded shall be at 155 least 3 percent of the aggregate principal amount of the Refundable Principal 156 Installments that are refunded; and (iii) the Bond shall mature on or before six months 157 after the date on which the last Refundable Principal Installment that is refunded is 158 payable. 159 160 Section 5: Optional Prepayment. The principal installments of the Bond shall be subject to 161 prepayment, at the Borough's option, on the dates and at the prices to be set forth in 162 the Amendatory Loan Agreement. If fewer than all of the principal installments of the Kodiak Island Borough, Alaska Resolution No. FY2017-10 Page 3 of 9 163 Bond are to be prepaid, the principal installments to be prepaid shall be determined 164 by the Borough. Notice of any such prepayment shall be sent by the Borough not 165 less than 50 days prior to the date fixed for prepayment by first class mail to the 166 Registered Owner at the Registered Owner's address as it then appears on the Bond 167 Register. Notice of prepayment having been duly given and the prepayment having 168 been duly effected, interest on the principal installments to be prepaid shall cease to 169 accrue on the date fixed for prepayment. 170 171 Section 6: Form of Bond, Each Bond shall be in substantially the following form, subject to the 172 provisions of the Amendatory Loan Agreement and with such variations, omissions, 173 and insertions as may be required or permitted by this Resolution: 174 175 UNITED STATES OF AMERICA 176 177 KODIAK ISLAND BOROUGH, ALASKA 178 179 NO. $________ 180 181 GENERAL OBLIGATION SCHOOL REFUNDING BOND 182 183 REGISTERED OWNER: ALASKA MUNICIPAL BOND BANK AUTHORITY 184 185 PRINCIPAL AMOUNT: 186 187 The Kodiak Island Borough (the 'Borough"), a municipal corporation of the 188 State of Alaska, hereby acknowledges itself to owe and for value received promises 189 to pay to the Registered Owner identified above, or its registered assigns, the 190 principal amount identified above in the following installments on each of the 191 following years, and to pay interest on such installments from the date hereof, 192 payable on 1, 20_, and semiannually thereafter on - 1, and - 1, of 193 each year, at the rates per annum as follows: 194 is Maturity Principal Interest 196 Date Amount Rate 197 188 199 200 For so long as the Alaska Municipal Bond Bank Authority (the 'Bond Bank') 201 is the Registered Owner, payment of principal and interest shall be made as provided 202 in the Loan Agreement between the Bond Bank and the Borough, as amended (the 203 "Amended Loan Agreement"). When and if this Bond is not owned by the Bond Bank, 204 installments of principal of and Interest on this Bond shall be paid by check or draft 205 mailed by first class mail to the Registered Owner as of the close of business on the 206 15th day of the month before each installment payment date; provided, that the final 207 installment of principal of and interest on this Bond shall be payable upon 208 presentation and surrender of this Bond by the Registered Owner at the office of the 209 Registrar. Interest will be computed on the basis of a 360-day year consisting of 210 twelve 30-day months. Both principal of and interest on this Bond are payable in 211 lawful money of the United States of America which, on the respective dates of 212 payment thereof, shall be legal tender for the payment of public and private debts. 213 214 This Bond is the General Obligation School Refunding Bond of the Kodiak 215 Island Borough, Alaska, and is authorized for the purpose of refunding certain 216 principal installments of an outstanding general obligation bond of the Borough under 217 Resolution No. FY201710 of the Borough entitled: Kodiak Island Borough, Alaska Resolution No. FY2017-10 Page 4 of 9 218 219 A RESOLUTION OF THE KODIAK ISLAND BOROUGH ASSEMBLY 220 AUTHORIZING THE BOROUGH TO ISSUE A GENERAL OBLIGATION 221 SCHOOL REFUNDING BOND TO REFUND CERTAIN PRINCIPAL 222 INSTALLMENTS OF AN OUTSTANDING GENERAL OBLIGATION 223 SCHOOL BOND OF THE BOROUGH AND TO PAY COSTS OF ISSUING 224 THE BOND, FIXING CERTAIN DETAILS OF SUCH BOND, AUTHORIZING 225 ITS SALE, AND PROVIDING FOR RELATED MATTERS 226 227 (the "Resolution"). 228 229 Installments of principal of this Bond maturing on and after _____ 1, 20, 230 shall be subject to prepayment on and after _____ 1, 20_, at the option of the 231 Borough (subject to any applicable provisions of the Amended Loan Agreement), in 232 such principal amounts and from such maturities as the Borough may determine, and 233 by lot within a maturity, at a redemption price equal to the principal amount to be 234 prepaid, plus accrued interest to the date of prepayment. 235 236 This Bond is transferable as provided in the Bond Resolution, (I) only upon 237 the Bond Register of the Borough, and (ii) upon surrender of this Bond together with 238 a written instrument of transfer duly executed by the Registered Owner or the duly 239 authorized attorney of the Registered Owner, and thereupon a new fully registered 240 Bond in the same aggregate principal amount and maturity shall be issued to the 241 transferee in exchange therefor as provided in the Bond Resolution and upon the 242 payment of charges, if any, as therein prescribed. The Borough may treat and 243 consider the person in whose name this Bond is registered as the absolute owner 244 hereof for the purpose of receiving payment of, or on account of, the principal or 245 redemption price, if any, hereof and interest due hereon and for all other purposes 246 whatsoever. 247 248 This Bond is a general obligation of the Kodiak Island Borough, and the full 249 faith and credit of the Borough are pledged for the payment of the principal of and 250 interest on this Bond as the same shall become due. 251 252 IT IS HEREBY CERTIFIED AND RECITED that all conditions, acts or things 253 required by the constitution or statutes of the State of Alaska to exist, to have 254 happened or to have been performed precedent to or in the issuance of this Bond 255 exist, have happened and have been performed, and that this Bond, together with all 256 other indebtedness of the Borough, is within every debt and other limit prescribed by 257 such constitution or statutes. 258 259 IN WITNESS WHEREOF, THE KODIAK ISLAND BOROUGH, ALASKA, has 260 caused this Bond to be signed in its name and on its behalf by the manual or 261 facsimile signature of its Mayor and its corporate seal (or a facsimile thereof) to be 262 impressed or otherwise reproduced hereon and attested by the manual or facsimile 263 signature of Its Clerk, all as of the - day of 264 265 KODIAK ISLAND BOROUGH 266 267 /specimen/ 268 Borough Mayor 269 270 ATTEST: 271 272 /specimen/ Kodiak Island Borough, Alaska Resolution No. FY2017-10 Page 5 of 9 273 Borough Clerk 274 275 Section 7: Execution. The Bond shall be executed in the name of the Borough by the manual or 276 facsimile signature of the Mayor, and its corporate seal (or a facsimile thereof) shall 277 be impressed or otherwise reproduced thereon and attested by the manual or 278 facsimile signature of the Borough Clerk. The execution of a Bond on behalf of the 279 Borough by persons who at the time of the execution are duly authorized to hold the 280 proper offices shall be valid and sufficient for all purposes, although any such person 281 shall have ceased to hold office at the time of delivery of the Bond or shall not have 282 held office on the date of the Bond. 283 284 Section 8: Payment of Principal Installments and Interest.. The Bond shall be payable in lawful 285 money of the United States of America which at the time of payment is legal tender 286 for the payment of public and private debts. For so long as the Bond Bank is the 287 Registered Owner of the Bond, payment of principal installments of and interest on 288 the Bond shall be made as provided in the Loan Agreement, as amended by the 289 Amendatory Loan Agreement, When and if the Bond Bank is not the Registered 290 Owner of the Bond, installments of principal of and interest on the Bond shall be paid 291 by check mailed by first class mail to the Registered Owner as of the record date for 292 the installment payment at the address appearing on the Bond Register; provided, 293 that the final installment of principal and interest on the Bond shall be payable upon 294 presentation and surrender of the Bond by the Registered Owner at the office of the 295 Registrar. 296 297 Section 9: Registration, The Bond shall be issued only in registered form as to both principal 298 and interest. The Borough designates the Borough Finance Director as Registrar for 299 the Bond. The Registrar shall keep, or cause to be kept, the Bond Register at the 300 principal office of the Borough. The Borough covenants that, until the Bond has been 301 surrendered and canceled, it will maintain a system for recording the ownership of 302 the Bond that complies with the provisions of Section 149 of the Code. The Borough 303 and the Registrar may treat the person in whose name the Bond shall be registered 304 as the absolute owner of such Bond for all purposes, whether or not the Bond shall 305 be overdue, and all payments of principal of and interest on the Bond made to the 306 Registered Owner thereof or upon its order shall be valid and effectual to satisfy and 307 discharge the liability upon such Bond to the extent of the sum or sums so paid, and 308 neither the Borough nor the Registrar shall be affected by any notice to the contrary. 309 310 Section 10: Transfer and Exchange. The Bond shall be transferred only upon the Bond Register. 311 Upon surrender for transfer or exchange of the Bond at the office of the Registrar, 312 together with a written instrument of transfer or authorization for exchange in form 313 and with guaranty of signature satisfactory to the Registrar, duly executed by the 314 Registered Owner or the duly authorized attorney of the Registered Owner, the 315 Borough shall execute and deliver a Bond in equal aggregate principal amount, 316 subject to such reasonable regulations as the Borough may prescribe and upon 317 payment sufficient to reimburse it for any tax, fee or other governmental charge 318 required to be paid in connection with such transfer or exchange. If the Bond is 319 surrendered for transfer or exchange it shall be canceled by the Registrar. 320 321 Section 11: Bond Mutilated. Destroyed. Stolen, or Lost. Upon surrender to the Registrar of a 322 mutilated Bond, the Borough shall execute and deliver a new Bond of like maturity 323 and principal amount. Upon filing with the Registrar of evidence satisfactory to the 324 Borough that a Bond has been destroyed, stolen, or lost and of the ownership 325 thereof, and upon furnishing the Borough with indemnity satisfactory to it, the 326 Borough shall execute and deliver a new Bond of like maturity and principal amount. 327 The person requesting the execution and delivery of a new Bond under this Section Kodiak Island Borough, Alaska Resolution No. FY2017-10 Page 6 of 9 328 shall comply with such other reasonable regulations as the Borough may prescribe 329 and shall pay such expenses as the Borough may Incur In connection therewith. 330 331 Section 12: Tax Covenants. The Borough covenants to comply with any and all applicable 332 requirements set forth in the Code in effect from time to time to the extent that such 333 compliance shall be necessary for the exclusion of the interest on the Bond from 334 gross income for federal income tax purposes. The Borough covenants that it will 335 make no use of the proceeds of the Bond which will cause the Bond to be an 336 "arbitrage bond' subject to federal income taxation by reason of Section 148 of the 337 Code. The Borough covenants that it will not take or permit any action that would 338 cause the Bond to be a "private activity bond' as defined in Section 141 of the Code. 339 340 Section 13: Amendatory and Supplemental Resolutions. 341 342 (a) The Assembly from time to time and at any time may adopt a resolution or 343 resolutions supplemental hereto, which resolution or resolutions thereafter shall 344 become a part of this Resolution, for any one or more of the following purposes: 345 346 (1) To add to the covenants and agreements of the Borough in this 347 Resolution, other covenants and agreements thereafter to be observed or to 348 surrender any right or power herein reserved to or conferred upon the 349 Borough. 350 351 (2) To make such provisions for the purpose of curing any ambiguities or 352 of curing, correcting or supplementing any defective provision contained in 353 this Resolution or in regard to matters or questions arising under this 354 Resolution as the Assembly may deem necessary or desirable and not 355 inconsistent with this Resolution and which shall not adversely affect the 356 interests of the Registered Owner of the Bond. 357 358 Any such supplemental resolution may be adopted without the consent of the 359 Registered Owner of the Bond at any time outstanding, notwithstanding any of the 360 provisions of subsection (b) of this Section. 361 362 (b) With the consent of the Registered Owner, the Assembly may adopt a 363 resolution or resolutions supplemental hereto for the purpose of adding any 364 provisions to or changing in any manner or eliminating any of the provisions of this 365 Resolution or of any supplemental resolution. 366 367 It shall not be necessary for the consent of the Registered Owner of the Bond under 368 this subsection to approve the particular form of any proposed supplemental 369 resolution, but it shall be sufficient if such consent approves the substance thereof. 370 371 (c) Upon the adoption of any supplemental resolution under this Section, this 372 Resolution shall be deemed to be modified and amended in accordance therewith, 373 and the respective rights, duties, and obligations under this Resolution of the 374 Borough and the Registered Owner shall thereafter be subject in all respects to such 375 modification and amendment, and all the terms and conditions of the supplemental 376 resolution shall be deemed to be part of the terms and conditions of this Resolution 377 for any and all purposes. 378 379 (d) Bonds executed and delivered after the adoption of any supplemental 380 resolution under this Section may bear a notation as to any matter provided for in 381 such supplemental resolution, and if such supplemental resolution shall so provide, a 362 new Bond modified so as to conform, in the opinion of the Borough, to any Kodiak Island Borough, Alaska Resolution No. FY2017-10 Page 7 of 9 383 modification of this Resolution contained in any such supplemental resolution may be 384 prepared by the Borough and delivered without cost to the Registered Owner of the 365 Bond, upon surrender for cancellation of such Bond in an equal aggregate principal 356 amount. 387 388 Section 14: Defeasance. In the event money and/or non-callable Government Obligations 389 maturing at such times and bearing interest to be earned thereon in amounts 390 sufficient to redeem and retire the Bond in accordance with its terms are set aside in 391 a special trust account to effect such redemption or retirement and such moneys and 392 the principal of and interest on such Government Obligations are irrevocably set 393 aside and pledged for such purpose, then no further payments need be made to pay 394 or secure the payment of the principal of and interest on the Bond and the Bond shall 395 be deemed not to be outstanding. 396 397 Section 15: Exchange of the Bond: Amendatory Loan Agreement: Continuing Disclosure 398 Certificate. The exchange of the Bond for all the Refundable Principal Installments 399 that are refunded (and the issuance of a replacement 2008 Bond), as provided in the 400 Amendatory Loan Agreement and this Resolution, is hereby authorized and 401 approved, The Amendatory Loan Agreement and the Continuing Disclosure 402 Certificate in substantially the form filed with this Resolution are hereby approved 403 The Mayor and the Borough Manager are each hereby authorized to execute and 404 deliver the Amendatory Loan Agreement and the Continuing Disclosure Certificate in 405 such forms, together with such changes not inconsistent herewith as may be 406 approved by the Mayor or the Borough Manager (such approval to be conclusively 407 evidenced by such official's execution and delivery of such document). 408 409 Section 16: Authority of Officers. The Mayor, the Borough Manager, the Borough Finance 410 Director, and the Borough Clerk each is authorized and directed to do and perform all 411 things and determine all matters not determined by this Resolution, to the end that 412 the Borough may carry out its obligations under the Bond and this Resolution. 413 414 Section 17: Ongoing Disclosure. The Borough acknowledges that under Rule 15c2-12 of the 415 Securities and Exchange Commission (the "Rule") the Borough may now or in the 416 future be an "obligated person." In accordance with the Rule, and as the Bond Bank 417 may require, the Borough shall undertake to provide certain annual financial 418 information and operating data as shall be set forth in the Amendatory Loan 419 Agreement. 420 421 Section IS: Miscellaneous. No recourse shall be had for the payment of the principal of or the 422 interest on the Bond or for any claim based thereon or on this Resolution against any 423 member of the Assembly or officer of the Borough or any person executing the Bond 424 The Bond is not and shall not be in any way a debt or liability of the State of Alaska 425 or of any political subdivision thereof, except the Borough, and does not and shall not 426 create or constitute an indebtedness or obligation, either legal, moral, or otherwise, of 427 such state or of any political subdivision thereof, except the Borough, 428 429 Section 19: Severability. If any one or more of the provisions of this Resolution shall be declared 430 by any court of competent jurisdiction to be contrary to law, then such provision shall 431 be null and void and shall be deemed separable from the remaining provisions of this 432 Resolution and shall in no way affect the validity of the other provisions of this 433 Resolution or of the Bond. 434 435 Section 20: Effective Date. This Resolution shall become effective upon passage and approval 436 Kodiak Island Borough, Alaska Resolution No. FY2017-10 Page 8 of 9 437 ADOPTED BY THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH 438 THIS FIFTEENTH DAY OF SEPTEMBER, 2016 439 KODIAK ISLAND BORO1ft* !rroI I lierid, Irough Mayor Kodiak Island Borough, Alaska Resolution No. FY2017-10 Page 9 of 9 I, NOVA JAVIER, Clerk of the Kodiak Island Borough (the Borough"), HEREBY CERTIFY that the document attached hereto is an accurate and complete copy of Resolution FY2017-10 of the Borough adopted by the Borough Assembly at a meeting duly called and held September 15, 2016, and that Resolution No. FY2017-10 has not been modified, amended, repealed, or rescinded, but is in full force and effect on the date hereof. 1/lit IN WITNESS WHEREOF, I have executed this certificate this 1W day of " If- 2016, NOVXJAVIER, MMC Borough Clerk Kodiak Island Borough do hereby certify that this is a true and correct copy of the original on fife in the office of the Kodiak Island Borough CIer Dated this- 20..L.. oughCrk ITIJ1FI iitflifl iiiU as J3 I 3fIOJI i a$ 1 SS: State of Alaska I, the undersigned, being L. t duly sworn, depose and say: I am Editor or Publisher of the Kodiak Daily Mirror, a daily newspaper published in Kodiak, Third Judicial Division, I 1 IL State of Alaska, and that the annexed printed notice was published in said (q newspaper in issues of the following I dates: I _ kil IhH x________________ Signature of Editor or Publisher SUBSCRIBED AND SWORN to before SL U ____ me this __day of TC t 2L,2OJ - NOTARY PUBLIC in and for the State of Alaska. My Commission expires—D unn i uTINmvJ U UNITED STATES OF AMERICA State of Alaska ILf 14 - , - , tulIP) mu P flit 4 4 I fh f H U I I 1 " - U —E SS: I, the undersigned, being rst duly sworn, depose and say: I am Editor or Publisher of the Kodiak Daily Mirror, a daily newspaper published in Kodiak, Third Judicial Division, State of Alaska, and that the annexed printed notice was published in said newspaper in issues of the following dates: ---- Signature of Editor or Publisher SUBSCRIBED AND SWORN to before me,ths el* oLQC. z)k2e,' ,201 ?, NOTARY PUBLIC in and for the State of Ii 11111/,, 5. &4 ')T •\jOfl # OF N cJ //101/111111110\0 Alaska. My Commission expires-3 KODIAK ISLAND BOROUGH Assembly Regular Meeting September 15, 2016 A regular meeting of the Kodiak Island Borough Assembly was held on September 15, 2016, in the Assembly Chambers of the Kodiak Island Borough Building, 710 Mill Bay Road. The meeting was called to order at 6:30 p.m. The invocation was given by Major David Davis. Mayor Friend led the Pledge of Allegiance. Present were Mayor Jerrol Friend, Assembly members Kyle Crow, Larry LeDoux, Frank Peterson Jr., Dan Rohrer, Rebecca Skinner, Scott Smiley, and Dennis Symmons. Also present were Borough Manager Michael Powers, Borough Clerk Nova Javier, and Deputy Clerk Angela MacKenzie. APPROVAL OF AGENDA PETERSON moved to approve the agenda. VOICE VOTE ON MOTION CARRIED UNANIMOUSLY. APPROVAL OF MINUTES None. CITIZENS' COMMENTS Dave Townsend voiced frustrations regarding the building codes and reminded the elected officials that they are acting on behalf of the people. He mentioned that the public does not want excessive government oversight and that the mayor should recuse himself from voting on this issue because of his own personal business as a contractor. He also listed several municipalities in Alaska that do not have building codes. Karen Yashen representing the Humane Society of Kodiak, thanked the Assembly for its nonprofit funding, and provided a brief update of what they are able to do with that funding. Jonathan Strong representing Senior citizens of Kodiak and the Kodiak Area Transit System, thanked the Assembly for its consideration and continued support. He also invited the Mayor, Assembly, and community to the Kodiak Area Transit System business after hours being held at the Senior Center on Friday, September 16 from 5:30 p.m. to 7:30 p.m. AWARDS AND PRESENTATIONS None. COMMITTEE REPORTS Assembly member Skinner provided an update on the Kodiak Fisheries Work Group (KFWG) meeting from that morning. They discussed a potential grant opportunity through the Saltonstall- Kennedy program. Also discussed was a letter to the North Pacific Fishery Management Council (NPFMC) that would emphasize the desire of the City of Kodiak and the Kodiak Island Kodiak Island Borough Assembly Regular Meeting Minutes September 15, 2016 Page 1 of 10 Borough for community protections to be built into any actions that were going through the NPFMC specifically in relation to the Gulf Trawl Bycatch Management. She requested a special meeting to have this letter approved in order to get it into the NPFMC meeting packet by the deadline. The next KFWG meeting would be held on Thursday, September 29. Assembly member Rohrer reported that the Borough Lands Committee was reviewing Title 18 and that they were just starting to review parcels in Bells Flats. He also reported that the Providence Kodiak Island Medical Center was required by law to do a Needs Assessment Survey every few years to determine where providence was headed. 750 people in the community participated in the survey and the final report will be available soon. This survey was heavily relied upon by both Providence Kodiak Island Medical Center and the Kodiak Community Health Center to determine the direction they will go. PUBLIC HEARING A. Ordinances Amending the 2008 Comprehensive Plan By Changing The Future Land Use Designation Of The Following Borough Owned Lands From Public Ownership/Facilities To Residential Or Rural Residential: • Ordinance No. FY2017-05, Lot 7A, Block 2, Monashka Bay Subdivision From Public Ownership/Facilities To Rural Residential (P&Z Case No. 16-024). • Ordinance No. FY2017-07, Lot 5, Block 5, Monashka Bay Subdivision From Public Ownership/Facilities To Rural Residential (P&Z Case No. 16-033). • Ordinance No. FY2017-09, A ± 20,000 Square Foot Portion Of U.S. Survey 3099 From Public Ownership/Facilities To Urban Residential (P&Z Case No. 16-036). • Ordinance No. FY2017-13, A ± I Acre Portion of Lot 1A-4, U.S. Survey 3465 From Public Ownership/Facilities To Urban Residential (P&Z Case No. 16-030). CROW moved to adopt Ordinance Nos. FY2017-05, FY2017-07, FY2017-09, and FY2017-13. Several parcels identified by resolution as surplus to the public's need do not currently have Future Land Use Designations that allow for residential development. Changes in their Future Land Use Designations would allow for subsequent rezones of these parcels, which would in turn allow residential uses. Mayor Friend opened the public hearing. Jonathan Strong expressed appreciation to the Borough Lands Committee and the Assembly for getting land out to the public. David Townsend purchased land from a previous land sale and commented that he would have liked to receive a full disclosure of the state of the parcel he purchased. There was debris spread all over the parcel that was costly to remove. Mayor Friend closed the public hearing. ROLL CALL VOTE ON MOTION CARRIED UNANIMOUSLY: Crow, LeDoux, Peterson, Rohrer, Skinner, Smiley, and Symmons. Kodiak Island Borough Assembly Regular Meeting Minutes September 15, 2016 Page 2 of 10 B. Ordinances Rezoning The Following Borough Owned Lands From FL-Public Use Lands District to Ri-Single-Family Residential District, R2-Two-Family Residential District, Or RRI-Rural Residential One District: • Ordinance No. FY2017-06, Lot 7A, Block 2, Monashka Bay Subdivision From FL-Public Use Lands District To RRI-Rural Residential One District (P&Z Case No. 16-025). • Ordinance No. FY2017-08, Lot 5, Block 5, Monashka Bay Subdivision From FL- Public Use Lands District To RR1-Rural Residential One District (P&Z Case No. 16-034). • Ordinance No. FY2017-10, Rezoning ± 20,000 Square Foot Portion Of Lot 29, U.S. Survey 3099 From FL-Public Use Lands District To R2-Two-Family Residential District (P&Z Case No. 16-037). • Ordinance No. FY2017-14, A ± I Acre Portion of Lot IA-4, U.S. Survey 3465 From PL-Public Use Lands District To R2-Two-family Residential District (P&Z Case No. 16-031). ROHRER moved to adopt Ordinance Nos. FY2017-06, FY2017-08, FY2017-10, and FY2017- 14. Several parcels identified by resolution as surplus to the public's need did not have zoning designations that allowed for residential development. Rezoning these parcels from FL-Public Use Lands to a residential zoning district appropriate to the area where each parcel was located would ensure that future site development was consistent with the character of the surrounding neighborhood. Mayor Friend opened the public hearing. Dave Townsend urged the Assembly to address the building codes before these lands were sold. Mayor Friend closed the public hearing. Resource Manager Duane Dvorak spoke to the numerous issues that needed to be resolved before issuing a land sale and that it was still several months out. ROLL CALL VOTE ON MOTION CARRIED UNANIMOUSLY: LeDoux, Peterson, Rohrer, Skinner, Smiley, Symmons, and Crow. BOROUGH MANAGER'S REPORT Manager Powers reported on the following: • Attended the KFWG meeting and met with the Analyst, Heather McCarty • Working on the Otmeloi issues and would have a public meeting with those residents • Met with Kodiak College Director, Alan Fugleberg regarding the Jump Start and Ocean Science programs and a contract would be coming soon • The Kodiak Island Borough School District was going to have an Ocean Science program and that contract would be coming soon • Ongoing hospital negotiations • Renewal and replacement capital projects were being reviewed Kodiak Island Borough Assembly Regular Meeting Minutes September 15, 2016 Page 3 of 10 Met with Department of Environmental Conservation (DEC) regarding medical waste incinerator and it should be bore the Assembly soon Preparing for union negotiations that four staff members would be negotiating on behalf of the Borough and it may be difficult to reach these staff members during the last week of September Received correspondence from Kodiak Area Native Association (KANA) recognizing Fire Chief Howard Rue for his arranging volunteer time for people who need to complete hours under the temporary assistance to needy families MESSAGES FROM THE BOROUGH MAYOR Mayor Friend clarified his frustrations of dealing with two different building codes and how challenging it has been. UNFINISHED BUSINESS A. Contract No. FY2016-45A Amending Contract No. FY2016-45 Twin Creeks Fire Salvage Timber Sale Contract, Between A-1 Timber Consultants, Inc. And The Kodiak Island Borough, To Provide An Exception To Section II Timber Operations, Subsection "C", Slash Operations. The motion on the floor was: move to amend Contract FY20I6-45 (previously adopted on May 5, 2016) Twin Creeks Fire Salvage Timber Sale Contract Section 11, Timber Operations, Subsection "C" Slash Operations, between A-I Timber Consultants, Inc. and the Kodiak Island Borough, by adopting the contract amendment identified as Substitute Version 2 of KIB Contract FY20 I 6-45A. SKINNER moved to postpone amending Contract No. FY2016-45 to the next regular meeting of the Assembly. This item was postponed at the regular meeting of September I, 2016. Private property owners adjoining borough land had been considering the need to remove both fire damaged and live trees on their respective properties to be salvaged by the borough timber contractor A-I Timber. While this constituted a separate arrangement between the property owners and A-I, the best way to remove the timber, with the least amount of disruption to other private property owners, was by bringing the harvested timber out over borough land. This would require limbing and topping to occur on borough land thereby creating additional slash piles. The creation of slash piles within 500 feet of residential properties was not permitted under KIB Contract No. FY20I6-45, Section II.C. For this reason staff was recommending that an exception to the standard be allowed by the assembly so that the clearing of neighboring lots may proceed without undue cost to the property owner or the borough for moving slash beyond 500 feet that was generated from outside the designated borough salvage logging area. It was expected that the slash generated from this activity would still be located well more than 200 feet away from the salvage logging boundary and much further from actual residential structures. Staff recommended that a written request form be required from each property owner acknowledging that slash from logging activities on their lot might be stacked within 500 feet of Kodiak Island Borough Assembly Regular Meeting Minutes September 15, 2016 Page 4of 10 their respective properties. A map depicting the potential lots in question was attached to the packet. Note: The initial submittal for this agenda item was prepared on information relayed through the borough's forest management consultant. Staff put the information together for the original agenda item and copied it to A-I Timber. A-i Timber requested to have further input to clarify the implications of the contract language in order to facilitate a reasonable compromise. Staff had modified the motion below to recommend adoption of the Substitute Version 2 contract amendment. ROLL CALL VOTE ON MOTION TO POSTPONE CARRIED UNANIMOUSLY: Peterson, Rohrer, Skinner, Smiley, Symmons, Crow, and LeDoux. NEW BUSINESS Contracts None. Resolutions 1. Resolution No. FY20I7-I0 Authorizing The Borough To Issue A General Obligation School Refunding Bond To Refund Certain Principal Installments Of An Outstanding General Obligation School Bond Of The Borough And To Pay Costs Of Issuing The Bond, Fixing Certain Details Of Such Bond, Authorizing Its Sale, And Providing For Related Matters. CROW moved to adopt Resolution No. FY2017-1 0. This resolution would authorize the Kodiak Island Borough's participation in the Alaska Municipal Bond Bank's (AMBB) refunding (or refinancing) of the Borough's 2008 Series One bond issue. In light of the recent historic decline in interest rates, the AMBB had identified the Borough's 2008 One issue as advantageous to refund based on current rates. These bonds were currently reimbursable by the State of Alaska at 60%, provided the Alaska State Legislature appropriates funds for the reimbursement program. If the savings generated by refunding this bond were taken at the beginning of a new payment schedule, unreimbursed savings to the Borough for FY2017 would be $323,362 (($370,000 principal + $127,480 interest) @ 65% (40% Borough rate plus 25% reimbursement reduction due to Governor Vetoes)). The Borough's first principal payment would be in FY2019 according to the following schedule. FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Kodiak Island Borough September 15, 2016 Current Principal Payment Schedule $350,000 $370,000 $380,000 $400,000 $415,000 $430,000 $450,000 $470,000 $490,000 $515,000 Proposed Principal Payment Schedule $0 $ 0 $0 $110,000 $415,000 $430,000 $450,000 $470,000 $490,000 $515,000 Assembly Regular Meeting Minutes Page 5 of 10 FY2026 $540,000 $540,000 FY2027 $565,000 $565,000 FY2028 $595,000 $595,000 ROLL CALL VOTE ON MOTION CARRIED UNANIMOUSLY: Rohrer, Skinner, Smiley, Symmons, Crow, LeDoux, and Peterson. 2. Resolution No. FY2017-12 Approving Fiscal Year 2017 Kodiak Island Borough Non- Profit Funding. PETERSON moved to adopt Resolution No. FY2017-12. The Kodiak Island Borough had for many years supported local nonprofit organizations to assist in providing local services that would not otherwise be provided by local government. The Borough had received applications requesting funding in fiscal year 2017. The Assembly had reviewed the requests and discussed distribution of funds at the August 25, 2016 work session as described in the resolution and supporting documentation spreadsheets. ROLL CALL VOTE ON MOTION CARRIED UNANIMOUSLY: Skinner, Smiley, Symmons, crow, LeDoux, Peterson, and Rohrer. 3. Resolution No. FY2017-14 Appointing Members to the Kodiak Fisheries Development Association Board of Directors (Stosh Anderson). SKINNER moved to adopt Resolution No. FY2017-14. The Kodiak Island Borough and the City of Kodiak jointly designated the Kodiak Fisheries Development Association (KFDA) as the Eligible Crab Community Entity (ECCE). The by-laws of the KFDA provide for appointment of Directors to the Board by the Kodiak Island Borough Assembly and the Kodiak City Council for three year terms. One of the three "Joint KFDA Director's Seats" expired in July 2016. Mr. Stosh Anderson wished to be reappointed for a seat to expire July 2019. ROLL CALL VOTE ON MOTION CARRIED UNANIMOUSLY: Smiley, Symmons, Crow, LeDoux, Peterson, Rohrer, and Skinner. 4. Resolution No. FY20I 7-15 Encouraging The State Of Alaska To Declare A Condition Of Economic Disaster In Kodiak And Requesting The Utilization Of The Commercial Fishing Revolving Loan Fund (CFRLF) To Assist The Affected Fishermen And Their Families Impacted By The Fisheries Disaster LEDOUX moved to adopt Resolution No. FY2017-15. This resolution was requested and being introduced by Assembly member Skinner. It encouraged the State of Alaska to declare a condition of economic disaster in Kodiak and requesting the utilization of the Commercial Fishing Revolving Loan Fund (CFRLF) to assist the affected fishermen and their families impacted by the fisheries disaster. Kodiak Island Borough Assembly Regular Meeting Minutes September 15, 2016 Page 6 of 10 A Gulf of Alaska Pink Salmon Fisheries preliminary information/summary was attached to the packet. A copy of the resolution was sent to the City of Kodiak for the Council's consideration. ROLL CALL VOTE ON MOTION CARRIED UNANIMOUSLY: Symmons, Crow, LeDoux, Peterson, Rohrer, Skinner, and Smiley. Ordinances for Introduction Ordinance No. FY2017-17 Placing A Temporary Moratorium On The Enforcement Of Those Sections Of Title 17 (Zoning) Of The Borough Code That Prohibit The Keeping Of Chickens And Other Animals Useful To People In The Rr-Rural Residential, RI-Single- Family Residential, R2-Two-Family Residential, And R3-Multi-Family Residential Zoning Districts, And Initiating A Planning And Zoning Commission Review Of Title 17 (Zoning) Of The Borough Code To Consider Amendments That Will Allow Such Uses In Those Districts, And Directing Staff To Perform A Concurrent Review Of Chapter 6.04 (Animal Control) Of The Borough Code To Recommend Amendments That More Specifically Address The Control Of Chickens And Other Animals Useful To People. SYMMONS moved to adopt Ordinance No. FY2017-17 in first reading to advance to public hearing at the next regular meeting of the Assembly. This ordinance was requested and was being introduced by Assembly Member Crow in an effort to address public comment supporting the keeping of chickens and other animals useful to people in residential zoning districts. Although such activities were permitted uses in three low-density residential districts, they were prohibited uses in one low-density district and all medium and high-density districts. The ordinance would place a temporary moratorium on the enforcement of Title 17 Zoning codes that prohibited such uses in those residential districts and would initiate a Planning and Zoning Commission code review to consider amendments that would allow such uses. The ordinance also would direct staff to perform a concurrent review of Chapter 6.04 Animal Control to recommend amendments that more specifically address the control of chickens and other animals useful to people. The temporary moratorium only applied to enforcement of Title 17 Zoning codes. Title 6 Animals Chapter 6.04 Animal Control codes that address animal cruelty, control of animals, animal waste, etc., would continue to be enforced. ROLL CALL VOTE ON MOTION CARRIED UNANIMOUSLY: Crow, LeDoux, Peterson, Rohrer, Skinner, Smiley, and Symmons. Other Items None. CITIZENS' COMMENTS Dave Townsend made comments in opposition of the Memorandum of Agreement (MOA) with the City of Kodiak on upholding Borough building code requirements. He stated that he had no recourse against the City's Building Department as a borough citizen and suggested that the MOA be let go and the Borough hire its own Building Inspector. Brother Francis Shelter Director Monte Hawver expressed gratitude to the Assembly and staff Kodiak Island Borough Assembly Regular Meeting Minutes September 15, 2016 Page 7 of 10 for working hard on awarding the nonprofit funding. Providence Kodiak Island Counseling Center Safe Harbor Program Director Mary Guilas- Hawver expressed gratitude to the Assembly for funding the nonprofit programs. EXECUTIVE SESSION A. Matters Involving Negotiations With The IBEW ROHRER moved to convene into executive session to discuss matters involving negotiations with the IBEW, a subject matter which qualifies for executive session per KIBC 2.30.030(F. I .d) matters involving negotiations with labor organizations representing borough employees. ROLL CALL VOTE ON MOTION CARRIED UNANIMOUSLY: LeDoux, Peterson, Rohrer, Skinner, Smiley, Symmons, and Crow. ROHRER moved to invite the Mayor, Assembly, Borough Manager, Finance Director, and Clerk's Office staff into executive session. ROLL CALL VOTE ON MOTION CARRIED UNANIMOUSLY: Peterson, Rohrer, Skinner, Smiley, Symmons, Crow, and LeDoux. After the vote, Mayor Friend recessed the regular meeting at 7:32 p.m. and convened the executive session. Upon returning from the executive session, Mayor Friend reconvened the regular meeting at 8:15 p.m. and announced that direction was given to the Manager to continue negotiations with the IBEW. ROHRER moved to suspend the rules to have Assembly member comments before the going into the next executive session. ROLL CALL VOTE ON MOTION CARRIED SIX TO ONE: Rohrer, Smiley, Symmons, Crow, LeDoux, and Peterson (Ayes); Skinner (No). ASSEMBLY MEMBERS' COMMENTS Assembly member Rohrer noted and appreciated Major Davis for his comment regarding "our agenda". Assembly member Skinner thanked the listening audience and members of the public who made comments; it was appreciated to hear the citizens' perspective. Assembly member Symmons expressed opinions regarding who should be responsible for determining how much and which nonprofit programs to be funded; the elected officials should handle it. Assembly member LeDoux requested the Solid Waste Advisory Board provide regular reports on the solid waste contract negotiations. He thanked the Borough Lands Committee for all its work preparing for the next land sale and cataloguing future land parcels in preparation of publiciprivate partnerships for affordable housing. He thanked Fire Chie Rue for his outstanding service; and thanked the clerk's for their work on the municipal election pamphlet. Kodiak Island Borough Assembly Regular Meeting Minutes September 15, 2016 Page 8 of 10 B. Borough Manager's Evaluation SKINNER moved to convene into executive session to discuss the Borough Manager's Performance Evaluation, a subject that qualifies for executive session as a matter that may tend to prejudice a character or reputation of a person. ROLL CALL VOTE ON MOTION CARRIED UNANIMOUSLY: Skinner, Smiley, Symmons, Crow, LeDoux, Peterson, and Rohrer. SKINNER moved to invite the Mayor and Assembly into executive session. ROLL CALL VOTE ON MOTION CARRIED UNANIMOUSLY: Smiley, Symmons, Crow, LeDoux, Peterson, Rohrer, and Skinner. After the vote, Mayor Friend recessed the regular meeting at 8:24 p.m. and convened the executive session. Upon returning from the executive session, Mayor Friend reconvened the regular meeting at 9:28 p.m. and announced no action was to be taken as a result of the executive session. Announcements Mayor Friend announced that he and members of the Assembly were invited and may be in attendance of the Kodiak Archipelago Rural Regional Leadership Forum on Wednesday, September 21, 2016 at 1 p.m. at the Kodiak College. The next Assembly work session would be held on Thursday, September 29 at 6:30 p.m. in the Borough Conference Room and the next Assembly regular meeting was scheduled for Thursday, October 6 at 6:30 p.m. in the Borough Assembly Chambers. The Assembly, City Council, School Board, and Governor Walker are scheduled for a joint work session on Friday, October 7 at 1:45 p.m. to 2:45 p.m. at the City Library Multi-Purpose Room, The Regular Municipal Election will be held on Tuesday, October 4, 2016. If you will be out of town on Election Day, absentee voting is available in the Borough Clerk's Office, Room 234 in the Borough building starting Monday, September 19, through Monday, October 3, 2016 from 9 a.m. to 4 p.m. Please bring your voter card or picture identification with you. If you have any questions, please call 486-9310. ADJOURNMENT CROW moved to adjourn the meeting. ROLL CALL VOTE ON MOTION CARRIED UNANIMOUSLY: Symmons, Crow, LeDoux, Peterson, Rohrer, Skinner, and Smiley. The meeting was adjourned at 9:28 p.m. Kodiak Island Borough Assembly Regular Meeting Minutes September 15, 2016 Page 9 of 10 KODIAK ISLAND BOROUGH ATTEST: Jerrol Friend, Mayor Nova M. Javier, MMC, Borough Clerk Approved on: Kodiak Island Borough Assembly Regular Meeting Minutes September 15, 2016 Page 10 of 10