Tab_266November 3, 2016
The Bank of New York Mellon Trust Company, N.A.
as Trustee/Paying Agent
100 Pine Street, Suite 3200
San Francisco, CA 94111
Re: Written Order of the Alaska Municipal Bond Bank
Ladies and Gentlemen:
The Alaska Municipal Bond Bank (the "Bank") has delivered to you, as Trustee and
Paying Agent, $80,435,000 aggregate principal amount of the Bank's General Obligation and
Refunding Bonds, 2016 Series Three (the "2016 Series Three Bonds") and $29,400,000
aggregate principal amount of the Bank's General Obligation and Refunding Bonds, 2016 Series
Four (the "2016 Series Four Bonds" and together with the 2016 Series Three Bonds, the
"Bonds"), duly executed by officers of the Bank. The Bonds are authorized by and issued
pursuant to the General Obligation Bond Resolution of the Bank, adopted by the Board of
Directors of the Bank (the "Board") on July 13, 2005 (as amended, the "General Bond
Resolution"), and Series Resolution No. 2016-05, adopted by the Board on September 6, 2016
(the "Series Resolution" and together with the General Bond Resolution, the "Resolutions").
You also have received the following documents that pursuant to the General Bond
Resolution are conditions precedent to your authentication and delivery of the Bonds:
1. A Counsel's Opinion required by Sections 203(C)(1) and 1003 of the General
Bond Resolution;
2. This letter, which is signed by an Authorized Officer and constitutes the written
order of the Bank required by Subsection 203(C)(2) of the General Bond Resolution;
3. A certified copy of Series Resolution No. 2016-05 authorizing the issuance of the
Bonds;
4. A certificate of the Bank, signed by an Authorized Officer and stating that the
Bank is not in default in the performance of any of the covenants, conditions, agreements or
provisions contained in the General Bond Resolution;
5. The Financial Guaranty Insurance policies and the endorsement to the Surety
Policy, each issued by National Public Finance Guarantee Corporation.
6. The instructions required by Section 204 of the General Bond Resolution in
connection with the portions of the Bonds that are Refunding Bonds.
You are hereby authorized and directed to authenticate the 2016 Series Three Bonds and,
when so authenticated, to deliver them via your Fast Automated Securities Transfer ("FAST")
delivery agreement to The Depository Trust Company ("DTC") on behalf of RBC Capital
Markets, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated (the "2016 Series Three
Underwriters"), upon receipt of $89,379,966.58, consisting of the aggregate principal amount of
the 2016 Series Three Bonds ($80,435,000.00), plus net original issue premium ($9,180,555.75)
and less Underwriters' discount ($235,589.17).
You also are hereby authorized and directed to authenticate the 2016 Series Four Bonds
and, when so authenticated, to deliver them via your FAST delivery agreement to DTC on behalf
of RBC Capital Markets, LLC and Goldman, Sachs & Co. (the "2016 Series Four
Underwriters"), upon receipt of $33,419,535.65, consisting of the aggregate principal amount of
the 2016 Series Four Bonds ($29,400,000.00), plus original issue premium ($4,118,869.55) and
less Underwriters' discount ($99,333.90).
Capitalized terms not defined herein shall have the meanings assigned thereto in
Section 103 of the General Bond Resolution and/or in Section 102 of the Series Resolution, as
applicable.
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This letter also confirms that the undersigned is an Authorized Officer of the Bank within
the meaning of the General Bond Resolution and is authorized to deliver this order on behalf of
the Bank.
Sincerely yours,
N W, a V95111 FMV U-11 J, 1014
DEEN J. MITCHELL
Executive Director
Receipt of the foregoing this 3rd day of November 2016 is hereby acknowledged.
THE BANK OF NEW YORK
MELLON TRUST COMPANY, N.A.
as Trustee/Paying Agent
By
Authorized Officer