Tab_243UNITED STATES OF AMERICA
NO. R . $8,285,000
STATE OF ALASKA
CITY AND BOROUGH OF SITKA
GENERAL OBLIGATION REFUNDING BOND, 2007
(Refinancing the City and Borough of Sitka General Obligation Bond, 1999
Pursuant to an Amendatory Loan Agreement dated as of January 1, 2007)
ial corporation of the State of Alaska (the "City and THE CITY AND BOROUGH OF SITKA, ALASKA, a m\
pr Borough") hereby acknowledges itself' to owe and for value receivedniises to pay to the Alaska Municipal Bond Bank (the
"Registered Owner"), the principal sum of
EIGHT MILLION TWO HUNDRED EIGHTY-Fl V$bND DOLLARS ($8,285,000)
in the following installments on April 1 of each of the following years, her with interest on such installments (calculated on
the basis of a 360-day year consisting of twelve 30-day o ths) at the following rates, payable on April 1, 2007, and
semiannually thereafter on the first days of each April and er until such installments have been paid, or such payment has
been duly provided for, as follows:
Principal Installment
Payment Years \\ciAmounts
pal Installment Interest
(April 1) Rates
2007 $ 480,000 4.375%
2008 505,000 4.50
2009 525,000 4.50
and in the following additional in?t'Ilments on December 1 of each of the following years, together with interest on such
installments (calculated on the basi of a 36 -day year consisting of twelve 30-day months) at the following rates, payable on
June 1, 2007, and semiannuall er er the first days of each June and December until such installments have been paid, or
such payment has been duly' vi s follows:
( Prinal Installment
\ Paj?ent Years Principal Installment Interest
ecember I) Amounts Rates
2009 $ 555,000 4.00%
2010 575,000 4.00
I 2011 600,000 4.00
\ J 2012 620,000 4.00
/ 2013 650,000 5.50
2014 295,000 4.00
2014 385,000 3.875
2015 715,000 5.50
2016 755,000 5.00
2017 420,000 5.00
2017 375,000 4.125
2018 350,000 4,125
2018 480,000 5.00
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
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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 (together, the "Loan Agreement")
The principal installments of this bond due on April 1 in years 2007 through 2009 are not subject to prepayment. The
principal installments of this bond due on December 1 in years 2009 through 2016 are not subject to prepayment. The principal
installments of this bond due on and after December 1, 2017 are subject to prepayment in whole or in part at the option of the
City and Borough on any date on or after December 1, 2016, at a price of 100% of the amount of the principal installment to be
prepaid, plus accrued interest to the date of 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, and Resolution No. 2006-31 (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 as long as this bond is outstanding that
it will make provision for the payment of the principal of and interest on the bond 'p its annual budgets and has further
covenanted that it will make annual levies of ad valorem taxes upon all the property witln the City and Borough subject to
taxation, without limitation as to rate or amount, and in amounts sufficient, with such ot r.rt ney available for such purposes as
the Assembly from time to time may appropriate and set aside therefor, to pay the p ncipal land interest on the bond as the
same shall become due. The full faith, credit and resources of the City and Bor gh a irre ocably pledged for the annual levy
and collection of such taxes and for the prompt payment of such princial and' te est.
It is hereby certified and declared that all acts, conditions Id th gs r94'uired to be done precedent to and in the
issuance of this bond have happened, been done and performed and at th\totaNrilebtedness of the City and Borough, including
this bond, does not exceed any constitutional, statutory or charter 1imfba
,
ion.\
IN WITNESS WHEREOF, the City and Borough of Atka, Aka, has caused this bond to be signed by the facsimile
or manual signature of its Mayor, to be attested by the fausimi e r manual signature of its Clerk, and the official seal of the City
and Borough to be impressed or imprinted hereon, this 3l da Ia ary, 2007.
C CITY AND BOROUGH OF SITKA, ALASKA
i o,\
SIT1 \ By
Mayor
ATTEST:
Clerk
CERTIFICATE OF AUTHENTICATION
Date of Authentication: k !i_(. 10
This is the General Obligation Refunding Bond, 2007, of the City and Borough (amending the City and Borough's
General Obligation Bond, 1999), dated January 31, 2007.
By
710 s Ron eps rar
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ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
PLEASE INSERT SOCIAL SECURITY OR TAXPAYER IDENTIFICATION NUMBER OF TRANSFEREE
(Please print or typewrite name and address, including zip code of Transferee)
the within bond and all rights thereunder and does hereby irrevocably constitute and appoint
of or its successor, as agent to transfer said bond on
the books kept by the Registrar for registration thereof, with full power of substitution in the premises.
DATED:
SIGNATURE GUARANTEED:
NOTICE: Signature(s) must be guaranteed
pursuant to law.
NOTE: nature of this Assignment must correspond
with the r(ame ô' the Registered Owner as it appears upon the
face of th7i)ond in every particular, without alteration
or any change whatever.
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