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I, STEPHEN GIESBRECHT, Borough Manager of the Petersburg Borough,
Alaska (the "Issuer"), HEREBY CERTIFY that:
1. Pursuant to Resolution #2016-22 of the Issuer, I have approved the
aggregate principal amount, maturity amounts, interest rates, yields, dated date,
principal and interest payment dates, record dates for principal and interest payments,
the optional redemption terms, and other details of the Issuer's Service Area I General
Obligation Refunding Bond, 2016 Series A (the "2016 Series A 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 "2016 Series A Amendatory
Loan Agreement") between the Issuer and the Alaska Municipal Bond Bank (the "Bond
Bank") with respect to the 2016 Series A Bond.
2. Pursuant to Resolution #2016-21 of the Issuer, I have approved the
aggregate principal amount, maturity amounts, interest rates, yields, dated date,
principal and interest payment dates, record dates for principal and interest payments,
the optional redemption terms, and other details of the Issuer's Service Area I General
Obligation Refunding Bond, 2016 Series B (the "2016 Series B Bond," and together with
the 2016 Series A Bond, the "2016 Bonds") as set forth in Schedule X attached hereto,
and I have executed on behalf of the Issuer the Amendatory Loan Agreement dated
October 18, 2016 (the "2016 Series B Amendatory Loan Agreement") between the
Issuer and the Alaska Municipal Bond Bank (the "Bond Bank") with respect to the 2016
Series B Bond.
3. Pursuant to Resolution #2016-22 of the Issuer, I have designated the
former City of Petersburg's General Obligation School Bond, 2007 Series A (the "2007
Series A Bond") maturing in the years 2017 through 2026 to be refunded by exchange
for the 2016 Series A Bond, and find that the refunding of the maturities of the 2007
Series A Bond so designated realizes a debt service savings of at least three percent of
their principal amount, net of all issuance costs and underwriting discount, on a present
value basis.
4. Pursuant to Resolution #2016-21 of the Issuer, I have designated the
former City of Petersburg's General Obligation Refunding Bond, 2007 Series B (the
"2007 Series B Bond") maturing in the years 2017 through 2020 to be refunded by
exchange for the 2016 Series B Bond, and find that the refunding of the maturities of the
2007 Series B Bond so designated realizes a debt service savings of at least three
percent of their principal amount, net of all issuance costs and underwriting discount, on
a present value basis.
5. As of the date hereof, the assessed value of all real and personal property
in the Petersburg Borough is $437,616,700. Upon the issuance and delivery of the
Bonds, the total outstanding general obligation indebtedness of the Issuer for all public
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purposes will be $10,500,000, which does not exceed ten percent of the assessed value
of all real and personal property in the Petersburg Borough.
6. 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 the Issuer's
officers to their respective offices, or seeking to restrain or enjoin the issuance, sale or
delivery of the 2016 Bonds, or in any manner questioning the authority or proceedings
for the authorization or issuance of the 2016 Bonds, 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 2016
Bonds, or the pledge thereof, in any way contesting or affecting the validity or
enforceability of the 2016 Bonds, the Loan Agreement dated as of January 1, 2007
between the former City of Petersburg, Alaska and the Bond Bank with respect to the
2007 Series A Bond, the Loan Agreement dated as of October 1, 2000, between the
former City of Petersburg, Alaska and the Bond Bank and the Amendatory Loan
Agreement dated as of January 1, 2007 between the former City of Petersburg, Alaska
and the Bond Bank with respect to the 2007 Series B Bond, the 2016 Series A
Amendatory Loan Agreement or the 2016 Series B Amendatory Loan Agreement.
DATED this 3rd day of November, 2016.
PETERSBURG BOROUGH, ALASKA
I ----
STEPHEN GIESBRECHT
Borough Manager
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rnri
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$670,000 Service Area 1 General Obligation Refunding Bond,
2016 Series A
Date: Dated November 3, 2016.
Interest Payment Dates: Installments of interest on the 2016 Series A Bond shall be
payable on December 1, 2016 and semiannually thereafter on the first days of June and
December of each year.
Record Dates: The 15th day of the month next preceding the applicable interest
payment date.
Maturities and Interest Rates: Installments of principal of the 2016 Series A Bond
mature on December 1 in each of the years in the respective amounts, and bear interest
at the rates, as follows:
Year Principal Amount Interest Rate
2016 $ 5,000.00 2.00%
2017 55,000.00 2.00
2018 60,000.00 4.00
2019 60,000.00 4.00
2020 65,000.00 4.00
2021 65,000.00 4.00
Year Principal Amount Interest Rate
2022 $65,000.00 5.00%
2023 70,000.00 5.00
2024 70,000.00 5.00
2025 75,000.00 5.00
2026 80,000.00 5.00
Redemption Provisions: Installments of principal of the 2016 Series A Bond shall not
be subject to optional redemption prior to maturity.
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201 6Z[ Series :
Date: Dated November 3, 2016.
Interest Payment Dates: Installments of interest on the 2016 Series B Bond shall be
payable on December 1, 2016, and semiannually thereafter on the first days of June
and December of each year.
Record Dates: The 15th day of the month next preceding the applicable interest
payment date.
Maturities and Interest Rates: Installments of principal of the 2016 Series B Bond
mature on December 1 in each of the years in the respective amounts, and bear interest
at the rates, as follows:
Year Principal Amount Interest Rate Year Principal Amount Interest Rate
2017 $120,000.00 2.00%
2019 $130,000.00 4.00%
2018 130,000.00 4.00
2020 140,000.00 4.00
Redemption Provisions: Installments of principal of the 2016 Series B Bond shall not
be subject to optional redemption prior to maturity.
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