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ALASKA MUNICIPAL BOND BANK
$80,435,000 GENERAL OBLIGATION AND REFUNDING BONDS
2016 SERIES THREE
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$29,400,000 GENERAL OBLIGATION AND REFUNDING BONDS
2016 SERIES FOUR
To: The Bank of New York Mellon Trust Company, N.A. (the "Trustee")
as Trustee under the General Bond Resolution
of the Alaska Municipal Bond Bank
The Alaska Municipal Bond Bank (the "Bank") is issuing $80,435,000 aggregate principal
amount of its General Obligation and Refunding Bonds, 2016 Series Three (the "2016 Series Three
Bonds") and $29,400,000 aggregate principal amount of its General Obligation and Refunding
Bonds, 2016 Series Four (the "2016 Series Four Bonds" and together with the 2016 Series Three
Bonds, the "Bonds"). The Bonds are being issued for the purposes of making loans to the
Governmental Units mentioned below for governmental purposes, to refund bonds previously
issued by the Bank, to purchase a financial guaranty insurance policy for the payment of a portion
of the Bonds of each series and to pay costs of issuing the Bonds.
The 2016 Series Three Bonds. In connection with payments of net proceeds of the 2016
Series Three Bonds ($89,379,966.58), representing $80,435,000.00 aggregate principal amount of
the 2016 Series Three Bonds, plus net premium of $9,180,555.75, less underwriters' discount of
$235,589.17, and as required by Section 502(B) of the Bank's General Bond Resolution adopted
on July 13, 2005, as amended (the "2005 General Bond Resolution") and Article III of the Bank's
Resolution No. 2016-05, adopted on September 6, 2016, the Bank hereby requisitions from you as
Trustee the following amounts that, together with the other moneys specified below, shall be paid
to or for the account of the Governmental Units mentioned below:
(i) the sum of $11,479,637.21 (consisting of 2016 Series Three Bond proceeds in the
amount of $10,263,476.00 and funds released from the Bond Bank's 2005 General
Bond Resolution Reserve Account in the amount of $1,216,161.21) shall be
deposited to the 2007 Series One Escrow Account and applied as set forth in
Subsection 2(b) of the 2007 Series One Escrow Agreement, dated November 3,
2016, between you and the Bond Bank;
(ii) the sum of $23,594,219.57 (consisting of 2016 Series Three Bond proceeds in the
amount of $22,893,608.74 and funds released from the Bond Bank's 2005 General
Bond Resolution Reserve Account in the amount of $700,610.83) shall be
deposited to the 2007 Series Two Escrow Account and applied as set forth in
Subsection 2(b) of the 2007 Series Two Escrow Agreement, dated November 3,
2016, between you and the Bond Bank;
(iii) the sum of $2,398,647.74 (consisting of 2016 Series Three Bond proceeds in the
amount of $2,296,464.10 and at direction of the City of Bethel, Alaska ("Bethel"),
funds released from Bethel's reserve account in the amount of $102,183.64) shall
be deposited to the 2007 Series Three Escrow Account and applied as set forth in
Subsection 2(b) of the 2007 Series Three Escrow Agreement, dated November 3,
2016, between you and the Bond Bank;
(iv) the sum of $5,408,290.45 (consisting of 2016 Series Three Bond proceeds in the
amount of $4,972,988.90 and at direction of the City of Kodiak, Alaska ("Kodiak"),
funds released from Kodiak's reserve account in the amount of $435,601.55) shall
be deposited to the 2007 Series Five Escrow Account and applied as set forth in
Subsection 2(b) of the 2007 Series Five Escrow Agreement, dated November 3,
2016, between you and the Bond Bank;
(v) the sum of $22,351,390.49 (consisting of 2016 Series Three Bond proceeds in the
amount of $22,078,981.49 and excess bond proceeds of the Kodiak Island Borough,
Alaska ("Kodiak Island Borough") in the amount of $272,409.00 associated with
Kodiak Island Borough's loan from the Bond Bank in connection with the bonds
being refunded) shall be deposited to the 2008 Series One Escrow Account and
applied as set forth in Subsection 2(b) of the 2008 Series One Escrow Agreement,
dated November 3, 2016, between you and the Bond Bank;
(vi) the sum of $3,316,209.86 (consisting of 2016 Series Three Bond proceeds in the
amount of $3,316,209.86) shall be deposited to the 2008 Series Two Escrow
Account and applied as set forth in Subsection 2(b) of the 2008 Series Two Escrow
Agreement, dated November 3, 2016, between you and the Bond Bank;
(vii) the sum of $931,039.51 (consisting of 2016 Series Three Bond proceeds in the
amount of $857,866.11 and at direction of the City of Kodiak, Alaska ("Kodiak"),
funds released from Kodiak's reserve account in the amount of $73,173.40) shall
be deposited to the 2009 Series One Escrow Account and applied as set forth in
Subsection 2(b) of the 2009 Series One Escrow Agreement, dated November 3,
2016, between you and the Bond Bank;
(viii) the sum of $217,500 (consisting of funds released from Bethel's reserve account in
the amount of $217,500) shall be transferred to the debt service reserve fund
associated with the loan of proceeds of the 2016 Series Three Bonds to Bethel;
(ix) the sum of $247,300.02 (consisting of funds released from the reserve account for
the City of Seward ("Seward") in the amount of $247,300.02) shall be transferred
to the debt service reserve fund associated with the loan of proceeds of the 2016
Series Three Bonds to Seward;
(x) the sum of $461,581.28 (consisting of proceeds of the 2016 Series Three Bonds)
shall be transferred to the debt service reserve fund associated with the loan of
proceeds of the 2016 Series Three Bonds to Kodiak;
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(xi) as payment for the City and Borough of Juneau ("Juneau"), Alaska, General
Obligation Bond, 2016, the sum of $3,034,853.42, including $34,853.42 for
borrower costs of issuance (consisting of proceeds of the 2016 Series Three Bonds
in the amount of $3,034,853.42), to be paid to Juneau;
(xii) as payment for the City and Borough of Juneau, Alaska, General Obligation School
Refunding Bond, 2016, the sum of $18,755,998.27 (consisting of proceeds of the
2016 Series Three Bonds in the amount of 18,755,998.27), to be transferred to the
escrow fund established to refund Juneau's outstanding 2006B General Obligation
Bonds;
(xiii) as payment of a portion of the premium for the Reserve Fund Surety Policy, the
sum of $129,924.44 (consisting of 2016 Series Three Bond proceeds in the amount
of $54,924.44 and funds released from the Bond Bank's 2005 General Bond
Resolution Reserve Account in the amount of $75,000.00) to be paid to National
Public Finance Guarantee Corporation ("National");
(xiv) as payment of the premium for the Bond Insurance Policy on the insured 2016
Series Three Bonds, the sum of $5,473.04 (consisting of proceeds of the 2016
Series Three Bonds) to be paid to National Public Finance Guarantee Corporation;]
(xv) as payment for borrower costs of issuance, to the Petersburg Borough
("Petersburg"), the sum of $11,663.31 (consisting of proceeds of the 2016 Series
Three Bonds) to be paid to Petersburg;
(xvi) as payment for borrower costs of issuance, to the City of Nome ("Nome"), the sum
of $5,292.24 (consisting of proceeds of the 2016 Series Three Bonds) to be paid to
Nome;
(xvii) as payment for borrower costs of issuance, to the Northwest Arctic Borough
("NAB"), the sum of $14,085.38 (consisting of proceeds of the 2016 Series Three
Bonds) to be paid to NAB;
(xviii) as payment for borrower costs of issuance, to the Seward, the sum of $25,536.75
(consisting of proceeds of the 2016 Series Three Bonds) to be paid to Seward;
(xix) as payment for borrower costs of issuance, to the City of Wasilla ("Wasilla"), the
sum of $7,981.81 (consisting of proceeds of the 2016 Series Three Bonds) to be
paid to Wasilla;
(xx) as payment for borrower costs of issuance, to the City and Borough of Sitka
("Sitka"), the sum of $10,815.49 (consisting of proceeds of the 2016 Series Three
Bonds) to be paid to Sitka;
(xxi) as payment for borrower costs of issuance, to the Aleutians East Borough ("AEB"),
the sum of $29,678.27 (consisting of proceeds of the 2016 Series Three Bonds) to
be paid to AEB;
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(xxii) as payment for borrower costs of issuance, to the Kenai Peninsula Borough
("KPB"), the sum of $22,697.98 (consisting of proceeds of the 2016 Series Three
Bonds) to be paid to KPB;
(xxiii) as payment for borrower costs of issuance, to Bethel, the sum of $18,111.35
(consisting of proceeds of the 2016 Series Three Bonds) to be paid to Bethel;
(xxiv) as payment for borrower costs of issuance, to Kodiak, the sum of $27,285.00
(consisting of proceeds of the 2016 Series Three Bonds) to be paid to Kodiak;
(xxv) as payment for borrower costs of issuance, to the City of Dillingham
("Dillingham"), the sum of $18,139.71 (consisting of proceeds of the 2016 Series
Three Bonds) to be paid to Dillingham;
(xxvi) as payment for borrower costs of issuance, to the Kodiak Island Borough ("KIB"),
the sum of $16,622.67 (consisting of proceeds of the 2016 Series Three Bonds) to
be paid to TUB;
(xxvii) as payment for borrower costs of issuance, to the Municipality of Skagway
("Skagway"), the sum of $4,247.51 (consisting of proceeds of the 2016 Series
Three Bonds) to be paid to Skagway;
(xxviii)as payment of costs of issuing the 2016 Series Three Bonds, the sum of $233,028.89
(consisting of 2016 Series Three Bond proceeds in the amount of $175,683.46 and
$57,345.43 of Bank cost of issuance itemization) shall be held for the account of
the Bank.
In connection with payments of net proceeds of the 2016 Series Four Bonds
($33,419,535.65), representing $29,400,000.00 aggregate principal amount of the 2016 Series
Four Bonds, plus premium of $4,118,869.55, less underwriters' discount of $99,333.90, and as
required by Section 502(B) of the Bank's General Bond Resolution adopted on July 13, 2005, as
amended (the "General Bond Resolution") and Article III of the Bank's Resolution No. 2016-05,
adopted on September 6, 2016, the Bank hereby requisitions from you as Trustee the following
amounts that, together with the other moneys specified below, shall be paid to or for the account
of the following Governmental Units:
(i) the sum of $33,468,511.99 (consisting of 2016 Series Four Bond proceeds in the
amount of $31,264,456.41, at direction of the City of Ketchikan, Alaska
("Ketchikan"), funds released from Ketchikan' s reserve account in the amount of
$394,321.52, and funds released from the Bond Bank's 2005 General Bond
Resolution Reserve Account in the amount of $1,809,734.06) shall be deposited to
the 2006 Series Two Escrow Account and applied as set forth in Subsection 2(b) of
the 2006 Series Two Escrow Agreement, dated November 3, 2016, between you
and the Bond Bank;
(ii) as payment for the City of Ketchikan, Alaska, General Obligation Bond, 2016
(Harbor Improvements), the sum of $2,064,605.08, including $64,605.08 for
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borrower costs of issuance (consisting of proceeds of the 2016 Series Three Bonds
in the amount of $2,064,605.08), to be paid to Ketchikan;
(iii) the sum of $2,240,000 (consisting of funds released from Ketchikan's reserve
account in the amount of $2,240,000) shall be transferred to the debt service reserve
fund associated with the loan of proceeds of the 2016 Series Four Bonds to
Ketchikan;
(iv) as payment of a portion of the premium for the Reserve Fund Surety Policy, the
sum of $20,075.56 (consisting of 2016 Series Four Bond proceeds) to be paid to
National;
(v) as payment of the premium for the Bond Insurance Policy on the insured 2016
Series Four Bonds, the sum of $4,226.96 (consisting of proceeds of the 2016 Series
Four Bonds) to be paid to National;
(vi) as payment of costs of issuing the 2016 Series Four Bonds, the sum of $70,289.11
(consisting of 2016 Series Four Bond proceeds in the amount of $66,171.64 and
$4,117.47 of Bank cost of issuance itemization) shall be held for the account of the
Bank.
As required by Subsection 502(B)(2) of the General Bond Resolution, the Bank certifies
that the terms and provisions of each of the loan agreements and amendatory loan agreements by
and between (i) the Bank and Ketchikan; (ii) the Bank and Juneau; (iii) the Bank and Aleutians
East; (iv) the Bank and Bethel; (v) the Bank and Dillingham; (vi) the Bank and Kenai; (vii) the
Bank and Kodiak; (viii) the Bank and Kodiak Island; (ix) the Bank and Nome; (x) the Bank and
Northwest Arctic; (xi) the Bank and Petersburg; (xii) the Bank and Seward; (xiii) the Bank and
Sitka; (xiv) the Bank and Skagway; and (xv) the Bank and Wasilla (collectively, the "2016 Series
Three and Four Loan Agreements") are in compliance with the provisions of Section 913 of the
General Bond Resolution and that to the knowledge of the Bank, no Governmental Unit is in
default under any of the terms or provisions of its 2016 Series Three and Four Loan Agreements.
There have been delivered to you by each of the Governmental Units a Counsel's Opinion
and one or more Municipal Bonds as required by Subsections 502(B)(3) and 502(B)(4),
respectively, of the General Bond Resolution.
[SIGNATURE PAGE FOLLOWS]
This Requisition is executed and delivered on behalf of the Bank by the undersigned, an
Authorized Officer of the Bank, as of this 3rd day of November 2016.
~ I I ~ V,~' /r/11/11/111 V/j,
DIVEN J. MITCHELL
Director
Receipt of the foregoing requisitions and instructions this 3rd day of November is hereby
acknowledged.
THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., as Trustee/Paying Agent
Authorized Officer
OHSUSA:766012 162.1