Tab_242UNITED STATES OF AMERICA
NO. R-1 $2,385,000
STATE OF ALASKA
CITY AND BOROUGH OF SITKA
GENERAL OBLIGATION REFUNDING BOND, 2016
THE CITY AND BOROUGH OF SITKA, ALASKA, a municipal corporation of the State of Alaska (the "City and
Borough") hereby acknowledges itself to owe and for value received promises to pay to the Alaska Municipal Bond Bank (the
"Registered Owner"), the principal sum of
TWO MILLION THREE HUNDRED EIGHTY-FIVE THOUSAND DOLLARS ($1,630,000)
in the following installments on December 1 of the following year, together with interest on such installment (calculated on the
basis of a 360-day year consisting of twelve 30-day months) at the following rate, payable on December 1, 2016, as follows:
Principal Installment
Payment Years Principal Installment Interest
(December 1) Amounts Rates
2016 $ 755,000 5.00%
and in the following additional installments on December 1 of each of the following years, together with interest on such
installments (calculated on the basis of a 360-day year consisting of twelve 30-day months) at the following rates, payable on
December 1, 2016, and semiannually thereafter on the first days of each June and December until such installments have been
paid, or such payment has been duly provided for as follows:
Principal Installment
Payment Years Principal Installment Interest
(December 1) Amounts Rates
2016 $ 30,000 2.00%
2017 790,000 2.00
2018 810,000 4,00
Total $1,630,000
Both principal of and interest on this bond are payable in lawful money of the United States of America to the
Registered Owner hereof at the address appearing on the bond registration books held by the Finance Director of the City and
Borough (the "Bond Registrar"). Upon final payment of all installments and interest thereon, this bond shall be submitted to the
Bond Registrar for cancellation and surrender. Notwithstanding the foregoing, so long as the Alaska Municipal Bond Bank (the
"Bond Bank") is the Registered Owner of this bond, payments of principal of and interest on this bond shall be made to the Bond
Bank in accordance with the Loan Agreement between the Bond Bank and the City and Borough dated as of April 1, 1999, as
amended by that certain Amendatory Loan Agreement dated as of January 1, 2007, as further amended by that certain
Amendatory Loan Agreement dated October 18, 2016 (together, the "Loan Agreement").
The principal installments of this bond are not subject to prepayment.
This bond is issued pursuant to the Constitution and laws of the State of Alaska, the Charter of the City and Borough, a
vote of the qualified electors of the City and Borough, and duly adopted ordinances and resolutions thereof, including Ordinance
No. 99-1525, Resolution 99-731, Resolution No. 2006-31 and Resolution No. 16-2636 (together, the "Bond Legislation"), for the
purpose of financing and refinancing the cost of acquiring, constructing and equipping certain capital improvements to schools in
the City and Borough.
By the Bond Legislation, the City and Borough has covenanted and pledged for as long as this bond is outstanding that
it will make provision for the payment of the principal of and interest on the bond in its annual budgets and has further
covenanted that it will make annual levies of ad valorem taxes upon all the property within the City and Borough subject to
taxation, without limitation as to rate or amount, and in amounts sufficient, with such other money available for such purposes as
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the Assembly from time to time may appropriate and set aside therefor, to pay the principal of and interest on the bond as the
same shall become due. The full faith, credit and resources of the City and Borough are irrevocably pledged for the annual levy
and collection of such taxes and for the prompt payment of such principal and interest.
It is hereby certified and declared that all acts, conditions and things required to be done precedent to and in the
issuance of this bond have happened, been done and performed and that the total indebtedness of the City and Borough, including
this bond, does not exceed any constitutional, statutory or charter limitation.
IN WITNESS WHEREOF, the City and Borough of Sitka, Alaska, has caused this bond to be signed by the facsimile
or manual signature of its Mayor, to be attested by the facsimile or manual signature of its Clerk, and the official seal of the City
and Borough to be impressed or imprinted hereon, this 3d day of November, 2016.
CITY AND BOROUGH OF SITKA, ALASKA
Mayor
Nq
ATTEST:
Clerk
CERTIFICATE OF AUTHENTICATION
Date of Authentication: November 3, 2016
This is the General Obligation Refunding Bond, 2016, of the City and Borough dated November 3, 2016 authorized by
the Bond Legislation,
Chief Financial and Administrative Officer,
as Bond Registrar
By
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