FY2019-17 Authorizing The Execution And Delivery Of A Loan Trustee Agreement In Connection With The Borough's General Obligation School Bond, 2018 Series A1
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Introduced by: Borough Manager
Drafted by: Finance Director
Introduced on: 12/06/2018
Adopted on: 12/06/2018
KODIAK ISLAND BOROUGH
RESOLUTION NO. FY2019-17
A RESOLUTION OF THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH AUTHORIZING
THE EXECUTION AND DELIVERY OF A LOAN TRUSTEE AGREEMENT IN CONNECTION
WITH THE BOROUGH'S GENERAL OBLIGATION SCHOOL BOND, 2018 SERIES A
WHEREAS, pursuant to Resolution No. FY2019-13 of the Kodiak Island Borough, Alaska (the
"Borough"), adopted November 7, 2018, the Borough issued its General Obligation School Bond,
2018 Series A (the "Bond"); and
WHEREAS, pursuant to a Loan Agreement between the Borough and the Alaska Municipal
Bond Bank (the "Bond Bank") dated November 30, 2018 (the "Loan Agreement"), the Bond Bank
has purchased the Bond; and
WHEREAS, pursuant to the Loan Agreement, the Borough is required to make payments of
principal of and interest on the Bond to The Bank of New York Mellon Trust Company, N.A., as
Loan Trustee (the "Loan Trustee").
NOW, THEREFORE, BE IT RESOLVED BY THE ASSEMBLY OF THE KODIAK ISLAND
BOROUGH that:
Section 1: Loan Trustee Agreement. The Borough Manager and the Borough Finance
Director each is authorized to execute and deliver the Loan Trustee Agreement
between the Borough and the Loan Trustee, in substantially the form presented at
this meeting.
Section 2: Effective Date. This Resolution shall become effective upon passage and
approval.
ADOPTED BY THE ASSEMBLY OF THE KODIAK ISLAND BOROUGH
THIS SIXTH DAY OF DECEMBER, 2018
KODIAK
aISLAND BOROUGH
G�� t�;%�
Daniel A. Rohrer, Mayor
VOTES:
Ayes: Schroeder, Smiley, Symmons, Turner
Noes: Kavanaugh
Absent: Arndt, Skinner
Kodiak Island Borough, Alaska
ATTEST:
Resolution No. FY2019-17
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