1991-08I Amending Ordinance No. 91-08 FY 92 Budget to Accept a Grant from the State of Alaska in the Amount of $6,950 for Printing Two Hundred (200) Additional Copies of the Kodiak Island Borough Coastal Sensitivity Analysis.AN ORDINANCE AMENDING ORDINANCE NO. 91 -08 FY 92 BUDGET TO ACCEPT
A GRANT FROM THE STATE OF ALASKA IN THE AMOUNT OF 86,950
FOR PRINTING TWO HUNDRED (200) ADDITIONAL COPIES OF THE
KODIAK ISLAND BOROUGH COASTAL SENSITIVITY ANALYSIS
WHEREAS, the State of Alaska, Department of Community and Regional Affairs has
awarded the Kodiak Island Borough a grant to be applied toward the
printing of two hundred (200) additional copies of the Kodiak Island
Borough Coastal Sensitivity Analysis; and
WHEREAS,
WHEREAS,
KODIAK ISLAND BOROUGH
ORDINANCE NO. 91 -081
the amount of the State grant is $6,950; and
Introduced by: Mayor Selby
Requested by: Finance Director
Drafted by: Community Development Director
Introduced: 07/02/92
Public Hearing: 08/06/92
Adopted: 08/06/92
previous copies of the analysis were printed by Kodiak Marketing and
Consulting; therefore, it is most cost effective for the same firm to print
the additional two hundred (200) copies within the amount of the grant
award.
NOW, THEREFORE, BE IT ORDAINED BY THE ASSEMBLY OF THE KODIAK ISLAND
BOROUGH THAT:
Section 1: This ordinance is not of general application and shall not be codified.
Section 2:
Section 3:
Line item 230 - 252 - 430 -140 in the Fiscal Year 1992 budget will be
increased by *6,950.
The Kodiak Island Borough Assembly accepts the grant funds in the total
amount of *6,950 and directs staff to complete the necessary forms and
accounting to manage such funds.
Kodiak Island Borough, Alaska Ordinance No. 91 -08I
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ATTEST:
ADOPTED BY THE KODIAK ISLAND BOROUGH ASSEMBLY
THIS 6th DAY OF AUGUST, 1992
Donna F. Smith, Borough Clerk
KODIAK ISLAND BOROUGH
Jack M. arland, Pre ding Officer
Kodiak Island Borough, Alaska Ordinance No. 91 -08I
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The Depository Trust Company
55 Water Street, 49th Floor
New York, New York 10041
EXHIBIT A
RE: Kodiak Island Borough, Alaska, General Obligation School Refunding Bonds 1991 Series
A and 1991 Series B
Ladies and Gentlemen:
July XX, 1991
The purpose of this letter is to set out certain matters relating to the issuance by the Kodiak
Island Borough, Alaska (the "Borough "), of $(Amount) in agreegate principal amount of its
General Obligation School Refunding Bonds, 1991 Series A (the "Series A Bonds ") and 1991
Series B (the "Series B Bonds ") (collectively, the "Bonds "). Seattle —First National Bank (the
"Paying Agent ") is acting as registrar, authenticating and paying agent with respect to the Bonds.
The Bonds are issued pursuant to Ordinance No. 91 -09 (the "Bond Ordinance "), as supplemented
by a resolution adopted by the Borough Assembly on July 18, 1991. John Nuveen & Co.
Incorporated (the "Underwriter ") has agreed to purchase the Bonds pursuant to a Contract of
Purchase dated July 18, 1991. The Underwriter is distributing the Bonds through The Depository
Trust Company ( "DTC ").
To induce DTC to accept the Bonds as eligible for deposit at DTC and act in accordance with
its Rules with respect to the Bonds, the Borough and the Paying Agent make the following
representations to DTC:
1. Subsequent to Closing on the Bonds on August (Day), 1991, there shall be
deposited with DTC one Bond certificate registered in the name of DTC's
nominee, Cede & Co., for each stated maturity of the Bonds in the face amount
set forth on Sechedule A hereto, the total of which represents 100% of the
principal amount of such Bonds. None of the maturities exceed $150,000,000 in
aggregate principal amount.
2. In the event of any solicitation of consents from and voting by holders of the
Bonds, the Borough or Paying Agent shall establish a record date for such
purposes and give DTC notice of such record date not less than 15 calendar days
in advance of such record date to the extent possible.
3. In the event of a redemption or any other similar transaction resulting in
retirement of all Bonds outstanding or a reduction in aggregate principal amount
of Bonds outstanding ( "full or partial redemption ") or an advance refunding of all
Kodiak Island Borough, Alaska Ordinance No. 91 -09
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The Depository Trust Company
July XX, 1991
Page 2
or part of the Bonds outstanding, the Borough or the Paying Agent shall give DTC
notice of such event no less than 30 days nor more than 60 days prior to the
recemption or reefunding date, or, in the case of an advance refunding, the date
the proceeds are deposited in escrow.
4. In the event of a partial redemption or an advance refunding of part of the Bonds
outstanding, the Borough or the Paying Agent shall send DTC a notice specifying:
1) the amount of the redemption or refunding; 2) in the case of a refunding, the
maturity date(s) established under the refunding; and 3) the date such notice is to
be mailed to Bondholders or published (the "Publication Date "). Such notice shall
be sent to DTC by a secure means (e.g., legible facsimile transmission, registered
or certified mail, overnight expresss delivery) in a timely manner designed to
assure that such notice is in DTC's possession no later than the close of business
on the business day before the Publication Date. The Borugh or Paying Agent
will forward such notice either in a separate secure transmission for each CUSIP
number or in a secure transmission for multiple CUSIP numbers which include a
manifest or list of each CUSIP submitted in that transmission. The Publication
Date shall not be less than 30 days nor more than 60 days prior to the redemption
date or, in the case of an advance refunding, the date the proceeds are depositied
in escrow.
5. In the event of an invitation to tender the Bonds, notice to Bondholders by the
Borough or Paying Agent, specifying the terms of the tender and the date such
notice is to be mailed to Bondholders or published (the "Publication Date ") shall
be sent to DTC by a secure means and in a timely manner designed to assure that
such notice is in DTC's possession no later than the close of business on the
business day before the Publication Date.
6. All notices and payments addressed to DTC shall contain the CUSIP number of
the Bonds.
7. Notices to DTC by facsimile transmission shall be sent to DTC's Call Notification
Department at (516) 227 -4164 or (516) 227 -4190. If the Borough or Paying
Agent does not receive a facsimile receipt from DTC confirming that the notice
has been received, it should telephone (516) 227 -4070. Notices to DTC by mail
or any other means shall be sent to:
Kodiak Island Borough, Alaska Ordinance No. 91 -09
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The Depository Trust Company
July XX, 1991
Page 3
The Depository Trust Company
Call Notification Department
Muni Reorganization Manager
711 Stewart Avenue
Garden City, NY 11530
8. Interest payments shall be received by Cede & Co., as nominee of DTC, or its
registered assigns in next -day funds on each payment date Such payments shall
be made payable to the order of Cede & Co. Absent any other existing
arrangements, such payments shall be addressed as follows:
The Depository Trust Company
Manager, Cash Receipts, Dividends
7 Hanover Square - 24th Floor
New York, New York 10004
9. Payments of principal shall be received by Cede & Co., as nominee of DTC, or
its registered assigns in next -day funds on each payment date. Principal payments
shall be made payable to the order of Cede & Co., and shall be addressed as
follows:
The Depository Trust Company
Muni Redemption Department
55 Water Street - 50th Floor
New York, NY 10041
Attention: Collection Supervisory
10. DTC may direct the Borough or Paying Agent to use any other telephone number
for facsimile transmission, address, or department of DTC as the number, address
or department to which payments of interest or principal or notices may be sent.
11. In the event of a redemption, acceleration or any other similar transaction
necessitating a reduction in aggregate principal amount of Bonds outstanding or
an advance refunding of part of the Bonds outstanding, DTC, in its discretion, (a)
may request the Borough and Paying Agent to issue and authenticate a new Bond
certificate, and in the case of a refunding, request the Borough to obtain a new
CUSIP number for such certificate, or (b) shall make an appropriate notation on
the Bond certificate indicating the date and amounts of such reduction in principal,
except in the case of final maturity, in which case the certificate must be presented
to the Paying Agent prior to payment.
Kodiak Island Borough, Alaska Ordinance No. 91 -09
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The Depository Trust Company
July XX, 1991
Page 4
12. In the event the Borough determines pursuant to the Bond Ordinance that
beneficial owners of the Bonds shall be able to obtain certificated Bonds, the
Borough or Paying Agent shall notify DTC of the availability of Bond certificates
and shall issue, transfer and exchange Bond certificates in apprpriate amounts as
required by DTC and others. Whenever DTC requests the Borough and the
Paying Agent to do so, the Borough and the Paying Agent will cooperate with
DTC in taking appropriate action (a) to make available one ormore separate
certificates evidencing the Bonds to any DTC Participant having Bonds credited
to its DTC account or (b) to arrange for another securities depository to maintain
custody of a single certificate evidencing the Bonds.
13. By joining this letter, the Borough authorizes DTC to provide to the Paying Agent
a position listing of its Participants with respect to the Bonds at the request of the
Paying Agent, charging its customary fee therfor, and also authorizes the Paying
Agent to provide DTC with such signatures, exemplars of signatures and
authorizations to act as may be deemed necessary by DTC to permit DTC to
discharge its obligations to its Participants and proper regulartory authorities. This
authorization, unless revoked by the Borough, shall continue for the term of the
Bonds, until and unless the Paying Agent shall no longer be acting under the Bond
Ordinance. In such event, the Borough shall provide DTC with similar evidence
of the authorization of any successor Paying Agent to so act.
14. DTC may determine to discontinue providing its service as securities depository
with respect to the Bonds at any time by giving reasonable notice to the Borough
or Paying Agent (at which time DTC will confirm with the Borough or Paying
Agent the aggregate principal amount of the Bonds outstanding) and discharging
its responsibilities with respect thereto under applicable law. Under such
circumstances, whenever DTC requests the Borough and Paying Agent to do so,
the Paying Agent and the Borough will cooperate with DTC in taking appropriate
action to make available one or more separate certificates evidencing the Bonds
to any DTC Participant having Bonds credited to its DTC account.
15. Nothing herein shall be deemed to require the Paying Agent to advance funds on
behalf of the Borough.
Kodiak Island Borough, Alaska Ordinance No. 91 -09
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The Depository Trust Company
July XX, 1991
Page 5
Upon request, DTC will provide the Paying Agent with exemplars of signatures of those
authorized to act on its behalf, which will be subject to change by DTC, and the Paying Agent
and the Borough agree to accept direction from such persons or their designated successors on
behalf of DTC.
Very truly yours,
Received and Accepted:
THE DEPOSITORY TRUST COMPANY
By
Authorized Officer
KODIAK ISLAND BOROUGH
KARLETON SHORT
Finance Director
SEATTLE FIRST NATIONAL BANK
as Paying Agent
Authorized Officer
Kodiak Island Borough, Alaska Ordinance No. 91 -09
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The Depository Trust Company
July XX, 1991
Page 6
Year
Year
SCHEIN A
KODIAK ISLAND BOROUGH, ALASKA
GENERAL OBLIGATION SCHOOL REFUNDING BONDS
1991 SERIES A
Principal Interest
Amount Rate
KODIAK ISLAND BOROUGH, ALASKA
GENERAL OBLIGATION SCHOOL REFUNDING BONDS
1991 SERIES B
Principal Interest
Amount Rate
Kodiak Island Borough, Alaska Ordinance No. 91 -09
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