Tab_188$4,905,000
UNITED STATES OF AMERICA
FJ P11 1 III) tiiiiei I qi
GENERAL OBLIGATION SCHOOL REFUNDING BOND, 2016
REGISTERED OWNER: ALASKA MUNICIPAL BOND BANK
PRINCIPAL AMOUNT: FOUR MILLION NINE HUNDRED FIVE THOUSAND AND
NO/100 DOLLARS
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 identified
above in the following installments on each of the following years, and to pay interest on such
installments from the date hereof, payable on December 1, 2016, and semiannually thereafter on
June 1 and December 1, of each year, at the rates per annum as follows:
Maturity Date Principal Interest
(December 1) Amount Rate
2018 $395,000 4.00%
2019 415,000 4.00
2020 430,000 4.00
2021 450,000 4.00
2022 470,000 5.00
2023 495,000 5.00
2024 520,000 5.00
2025 550,000 5.00
2026 575,000 5.00
2027 605,000 5.00
For so long as the Alaska Municipal Bond Bank Authority (the "Bond Bank") is the
Registered Owner, payment of principal and interest shall be made as provided in the Loan
Agreement between the Bond Bank and the Borough, as amended (the "Amended Loan
Agreement"). When and if this Bond is not owned by the Bond Bank, installments of principal of
and interest on this Bond shall be paid by check or draft mailed by first class mail to the
Registered Owner as of the close of business on the 15th day of the month before each
installment payment date; provided, that the final installment of principal of and interest on this
Bond shall be payable upon presentation and surrender of this Bond by the Registered Owner at
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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 the General Obligation School Refunding Bond of the Kodiak Island
Borough, Alaska, and is authorized for the purpose of refunding certain principal installments of
an outstanding general obligation bond of the Borough under Resolution No. FY20 17-10 of the
Borough entitled:
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
(the "Resolution").
The Bond is not subject to prepayment at the option of the Borough prior to maturity.
This Bond is transferable as provided in the Bond 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 in the same aggregate principal
amount and maturity shall be issued to the transferee in exchange therefor as provided in the
Bond 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 this Bond as
the same shall become due.
IT IS HEREBY CERTIFIED AND RECITED that all conditions, acts or things required
by the constitution or statutes of the State of Alaska to exist, to have happened or to have been
performed precedent to or in the issuance of this Bond exist, have happened and have been
performed, and that this Bond, together with all other indebtedness of the Borough, is within
every debt and other limit prescribed by such constitution or statutes.
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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 3rd day of
November, 2016.
KODIAK ISLAND BOROUGH
,01
Borough Mayor
ATTEST:
RI-0 , 0 - -
Borough Clerk
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