1972-15 Amdending O-72-7 Changing Dates of the Bonds Authorizeda
i
ORDINANCE Nn.
AN ORDIItA`iCF Of the T.s �e*.hly of the Kodiak
Island Borough, A1asLa, amnzd =n° Ordinance
No. 72 -7 -0 of the A.S,enbly in order to
change the date o;: the bonds authnrize(?
therein frcm June 1, 1972, to August 1,
1972.
BE IT ORDMI1ED by the Assembly of the Kodiak Isl<.rid.
Borough, Alaska, as fcll.ows:
Section 1. Paracr.anh 2 of Section 2 of ord4:-jr- ce t'n•
72 -7 -0 of. the Borcugll adontea Anr.il 14, 1972, is herebv amenricd tc,
read as follows:
"said hondo Shall be kncn:rn as the Kodiak I41and
Borough Ceraral nbliaatinn Schnol Bonds, 1972 (here-
inafter called talc "Bonds ") , shall be gated 7 , -,,-7 as't 1,
19.72, s!:ali be nur'nered frc," 1 to 800, inclusive, sha1l he
in the denomination of S5,C0o each, shall bear interest 1t
a rate or .rated of not to exceed 83 per annum navanle
semiannually or, tre first jays of rebruzry and kucust
of each year from data of issue a.s evidenced b•! counons
to be attached thereto, ane s):all be numbered and
mature on August 1 in order of their number as follo••,s:
Frond Nos.
'Iaturity Year
Nnount
1 -23
1974
$115,000
24 -47
1975
320,000
43 -73
1976
130,000
74 -IC!.
1977
140.0"C
102 -131
1976
150,U00
132 -163
1979
160,000
170,000
164 -197
1920
1981
180,000
198 -233
234 -271
1982
190,000
272 -311
1983
200,000
312 -353
1984
210,000
X54 -398
1985
225,000
399 -445
1986
240,000
446 -497
1997
255,000
498 -551
1988
270,000
552 -608
1989
.285,000
609 -668
1990
320,000
669 -732
1991
340,000 „
733 -800
1992
Section 2. Paragraph 1 of Section 3 of ()rdinance Mo.
72 -7• -0 of the Borough adopted April 14, 1972, is herebv amendt3 to
read as follows:
" Section 3. The Borourh herebv reserves the ri.aht
to redaene o�.ic ^tandir.a :'.onds of tizi s issue in shale .
or in rart 1.:'1 inverse nu. erical order, on ?kulurt 1,
1982, or on anv intarest cnvment. date_ thereafter. at
rear plus accrued interest tc, the date of rec11-T-- nti.0^••"
section 3. Section 9 of r)�• ^.finance ;1o. 72-7-0 of the Boroucr
dated Anril 14, +1972, is hereby amended to read as follows:
"Section 9. The Bonds shall be in substantially the
following
UNITED STATES OF A."-TE RICA
NO. $5,000
KODIAK ISLAND BOROUrH
GENERAL OBLIrATIO "1 SCHOOL BOND, 1972
The Kodiak Island Borough, a municinal cor-
Doration of the State of Alaska (`!erein called the
;,Borough"), for value received harebv promises to
Pay to bearer on the first day of August,19
the principal sum of
FIVE THOUSA10 DOLLARS
tocether with interest thereon at the rate of
ner annum Davable semiannually on the first days
of February and Aunust of each veal from ,late hereof,
as evidenced by and upon nresentatirn and surrender
of the attached interest coupons as they sevarally
become due, or until such SLL^t shall have been nail
or duly provided for. Both orinci.r:l and inter-
est are navable in lawful nrnev of the United
States of America at the Natioanal R ?nk of Alaska,
at its main office in ?.nchorace, Alaska, ur at
the option of the holder, at the main office Of
the Seattle -First national Bank, Seattle,
ina_ton.
The Borough has re^er"L-d the r`.otit to radeem
the outstanding bonds c`_ this issu: in whole, or
in Dart in inverse numerical order, on August 1,
1982, or on any interest navment date therca to ,
at nar plus accrued interest to the date 01-F rzdemn-
tion..
idotice of any s+.tch intended rec.elnotion shall
be given by one nu!''- .ication in a newsoaner of
general circulation in thn City of New York, NOW
York, not more than forty "or less than thirty
days prior to said rede:nntion date, and by mail-
ing a like notice at the same time to the pur-
chaser of the bonds at their sale by pur
such chaser,
or to the business fruccessor o..
if any. interest on a:tv Bond or Bonds so called
for redemption shall cease on su!Q redemption
date unless the same are not redeerod vnon
presentation made !)urnuant to such call.
This bond is one of an issus of eight hundred
bonds of like amount, ( ?ate and tenor eacent as to
number, rate of interest and date of maturity
aggregating the nrincinal rvm o` Sa,000,000 and
is is'tued nu.rsuant to thn Constitution and 11-aws
of the State of Alaska, a vote of the TuaLified
electors of the Borourrh and duly adontec? ordinances
and resolutions for the nurnose of providina funds
to nay the cost of acrinir.ing, constructinq and
installing certain car.ital imnrovernents to the
educational facilities of the Borough.
This bond and the bonds of this issue ara vav-
able both nrincinal and interest out of the snecial
fund of the Borough entitled 'Kodiak Island 3orcugh
General Obligation School Bond TReder.±ntion rund'
created by Ordinance ,do. if the Borough.
The Borough has obligated and bound itself
to lev y and collect ad valorem taxes on all the
taxable property within the Borough without limi-
tation as to rate or ar,.ount, in amounts �ufticient,
together with all other funds available therefor,
to nay the nrincinal of and interest on the bonds
of this issue as the s,arne shall become due. For
the levy and collection of such taxes and the
prompt payment of such nrincinal and interest, the
full faith, credit and resources of the Boreugh
are hereby irrevocably pledged.
It is hereby certified that all acts, con-
ditions and things rnouired by the Constitution
and laws of the State of Alaska, and the ordinances
and resolutions of the Borouah to have been done
nrecedent to and in the issuance of this bond
have happened, been Bona and oerformpa and that
the total indebtedness of the Borouah; including
this bond and the bends of this issue, does not
exceed anv debt limitation prescr4.hen by law.
IN WWI ISSS '9ftE�??n °, the Kodia ?c Island
Borough, Alaska, has caused this bond to re sione
by its Chairman, to be attested by its Clerk, the
official seal of the Borouah to ba imnressed
hereon and the interest coupons attached herato
to be sianed with the facsimile signatures of
said officials this 1st day of August, 1972.
KOMAK ISLPID BOROMH, ALASKA
By
Borough Chairnan
A ST:
r
ouch Glee
"The interest coupons to be attached to said bonds
shall be in substantially the following form:
3.
NO. S
11n the first day c° . 10 f
the Kodiak Island. Borcuc1h,AAlas .a, will nay to
bearer at the main office of the National B -ink
of Alaska, anchorage, ?%laska, or at the cnt ,-on
of the holder, at tt_e main office of the See.ttle-
First National Bank, Seattle, Washinaton, tho
sum shoran hereon in la�.!ful monev of the Unit-ad
States of America, said sum be'_na the semiannual
interest due that date on its general nblicrL°tior.
School Bond dated August 1, 1972, and numbered
KODIAK IST- ?'k * ?D BOPOUCH, ALASKA
By lL
Borcugh Chairman
ATTEST:
Borough C erk
PASSED AND APPROVED by the Assembly of the Kodiak Island
Borough, Alaska, this 20th day of JULY , 1972•
ATTEST:
/ S
r ugh Clerk
KODIAK ISLAND BOROUGH
By '11 -C -
Piesid:ng Ctficer tre
Borough Assembly
H Fr- ough Chairman
4.