12WI STERN
FINANCIAL
GROUP
FINAL
Wire Instructions Memorandum
Kodiak Island Borough
Partial Defeasance of 2013 Long-Term Care Facility Loan
To Kodiak Island Borough Defeasance WorkingGroup
From Chip Pierce Western Financial Group LLC
Date November 20 2016
The foliowing are final wire instructionsfor the closing of the aboyereferenced financing The
closing will take place at 930 am Pacific Time on November 22 2016 byphone 1ocumeiits iII
Lx heid aL LheSeaU.Ie officcsofPoster Iepper JLLC i11 Avciiue Suite 3000 Please use the
foliowing cali-in number for the closing 605 47.5-4350 followed by the access code 287624ff
There will be one provider and one initial recipient of funds at closing The provider will be the
Kodiak Island Borough KIB The initial recipient wffl be TheBank of New York MellonTrust
Company BNY Additionally BNY will release portion of KIBs existing prior debt service
reserve fund BNY will use those funds to purchase State and Local Government Series securities
for the defeasance escrow KIB willretain funds at the Borough for costs of issuance and will
make payments based on invoices received
On November 22 2016 BNY will receive $4529156.85 from KIB representing available funds
that KIB will apply toward the 2013 defeasance
On November 22 2016 BNY will release $363612.50 from KIBs 2013 debt service reserve fund
the proceeds of which will be applied toward the 2013 defeasance BNY will retain $983075.00 in
the KIB reserve related to the long-term care facility an amount equal tothe reserve requirement
following the defeasance The combination ofthe wire from KIB referencedaboyeand therelease
from the KIB debt service reserve fund will total $4892769.35
The foflowing are wire instructionsfor fundswired to BNY by KIB
THE BANK OF NEW YORK MELLON
ABA 021000018
Account 1821818400
Account Name KODIAKISLAND ESC FORLTCR 2013
Phone 503 719-6113
3300 NW 185th Ave 270
Portland OR 97229
Western Financial Group LLC
Kodiak Island Borough
Final Wire Instruclions Memoraxtdum
Partial Defeasarkce of 2013 Long-Term Care Facility Loan
The foliowing table summarizes theallocationofthe $4892769.35 total cash heid by BNY on
November 22nd
Application of Funds Amount
Purchase of State and Local Government Seriessecurities for escrow $4892769.00
Cash Deposit to escrow 0.35
Total $4892769.35
KIB willretain $11500.00 associated with costs of issuance relatedtothe KIB 2013 partial
defeasance andmake distributions according to subsequent invoices submitted by members of
the working group
If you have any questions relatedto this memo or the accompanying pages please contact Chip
Pierce at 503 719-6113 Thank you for your assistance
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