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VAN
C X P C A C N C C C 0 M M I I Ni C N 1 S T A C N 0 1 Fl
TAX CERTIFICATE
Alaska Municipal Bond Bank
333 Willoughby Avenue
Juneau, Alaska 99811
RE: $6,985,000 Alaska Municipal Bond Bank, General Obligation and Refunding Bonds,
2016 Series Three (Insured Maturities due December 1, 2029 through December 1, 2037)
$4,430,000 Alaska Municipal Bond Bank, General Obligation and Refunding Bonds,
2016 Series Four (AMT) (Insured Maturities due December 1, 2034 through December 1,
2035)
(collectively, the 'Obligations")
Ladies and Gentlemen:
In connection with the issuance of the above-referenced obligations (the
"Obligations"), National Public Finance Guarantee Corporation (the "Insurer") is issuing two
financial guaranty insurance policies (the 'Policies") securing the payment of principal and
interest on the Obligations.
This is to advise you that:
1. The Policies are unconditional obligations of the Insurer to pay scheduled
payments of principal and interest on the Obligations in the event of a failure to do so by Alaska
Municipal Bond Bank (the "Issuer");
2. The insurance premiums in the amounts of $5,500 and $4,200 for the 2016 Series
Three and 2016 Series Four Policies, respectively, represent the charge for a transfer of credit
risk and were determined in arm's length negotiations and are required to be paid as a condition
to the issuance of the Policies;
3. No portion of such premiums represents an indirect payment of costs related to
the issuance of the Obligations other than for the transfer of credit risk;
4. The Insurer does not reasonably expect that it will be called upon to make any
payment under the Policies;
5. To the extent the Insurer is called upon to make any payment under the Policies,
the Insurer reasonably expects to pursue all available legal remedies to secure reimbursement for
such payment; and
N N P N PNn N N M N N T N PENN
6. The Insurer would not have issued the Policies in the absence of a Debt Service
Reserve Fund of the size and type established by the General Obligation Bond Resolution,
adopted by the Board of Directors of the Issuer on July 13, 2005 as amended from time to time
(the "2005 General Obligation Bond Resolution") and Resolution No. 2015-05, adopted on
December 15, 2015 pursuant to which the Obligations are being issued.
Dated: November 3, 2016
National Public Finance
Guarantee Corporation
By:
I
Secretary