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Kodiak #11 GO 2013 (-) 5th Year 2018CONTROL #11.00 $21,595,000.00 KODIAK ISLAND BOROUGH, ALASKA GENERAL OBLIGATION SCHOOL BONDS, SERIES 2013 DATE OF ISSUE: MARCH 12, 2013 ARBITRAGE REBATE CALCULATIONS FOR THE 05TH YEAR REBATE INSTALLMENT COMPUTATION PERIOD MARCH 12, 2013 TO MARCH 12, 2018 AS OF THE DATE OF THIS REPORT MAY 15, 2018 800.672.9993 www.rebatebyacs.com Kodiak Island Borough, Alaska 710 Mill Bay Road Kodiak, Alaska 99615-6340 May 15, 2018 TRANS MITT AL LETTER CONTROL #11.00 $21,595,000.00 KODIAK ISLAND BOROUGH, ALASKA GENERAL OBLIGATION SCHOOL BONDS, SERIES 2013 DATE OF ISSUE: MARCH 12, 2013 ARBITRAGE REBATE CALCULATIONS FOR THE 05TH YEAR REBATE INSTALLMENT COMPUTATION PERIOD MARCH 12, 2013 TO MARCH 12, 2018 AS OF THE DATE OF THIS REPORT MAY 15, 2018 We have enclosed the arbitrage rebate calculation report (together with Exhibits thereto, the "Report") for the above-referenced issue of tax-exempt debt ("Debt"). As explained in more detail in this Report, there was no Rebate Installment payment due to the United States Treasury, Internal Revenue Service ("IRS") on or before Friday, May 11, 2018 with respect to the Debt for the above-referenced 05th Year Rebate Installment Computation Period. There are no filing requirements regarding arbitrage rebate with the IRS as of the date of this Report, and therefore, nothing should be filed with the IRS as of this time. Please note that the 10th Year IRS filing date is 60 days from March 12, 2023. If you have any questions regarding this Report and related matters please call Stephen H Broden or Doug Pahnke at (800) 672-9993 ext. 7530. We will be happy to discuss any aspect of these calculations. Very truly yours, ARBITRAGE COMPLIANCE SPECIALISTS, INC. Kodiak Island Borough, Alaska ("Issuer") 710 Mill Bay Road Kodiak, Alaska 99615-6340 May 15, 2018 CONTROL #11.00 $21,595,000.00 KODIAK ISLAND BOROUGH, ALASKA GENERAL OBLIGATION SCHOOL BONDS, SERIES 2013 DATE OF ISSUE: MARCH 12, 2013 ARBITRAGE REBATE CALCULATIONS FOR THE 05TH YEAR REBATE INSTALLMENT COMPUTATION PERIOD MARCH 12, 2013 TO MARCH 12, 2018 AS OF THE DATE OF THIS REPORT MAY 15, 2018 At your request, Arbitrage Compliance Specialists, Inc. ("ACS") has prepared computations pertaining to the amount of the rebate installment payment ("Rebate Installment payment") that was due on or before Friday, May 11, 2018 from the Issuer to the United States Treasury, Internal Revenue Service ("IRS") with respect to the above-referenced issue of tax-exempt debt ("Debt") for the above-referenced 05th Year Rebate Installment Computation Period ("Computation Period"). The computations attached as Exhibits (together with this letter, the "Report") have been performed by ACS and are based upon the limited scope of ACS' engagement with information, instructions, assumptions and representations as provided to ACS by the Issuer. The computations reflected in the Exhibits of this Report are summarized as follows: 1. The yield on the Debt is 2.8413%. 2. The yield on the investments is 2.34351594%. 3.100% Rebate Installment payment TOTAL PAYMENT DUE TO THE IRS: ($100,535.21) NONE Using procedures, which ACS has developed for calculating arbitrage rebate, ACS has computed the amount of the Rebate Installment payment with respect to the Debt for the Computation Period in accordance with the applicable provisions of the Internal Revenue Code of 1986, as amended and the Treasury Regulations applicable to the Debt. ARBITRAGE COMPLIANCE SPECIALISTS, INC. Douglas Pahnke, CPA, Managing Director PTIN:P02124041 KODIAK ISLAND BOROUGH, ALASKA GENERAL OBLIGATION SCHOOL BONDS, SERIES 2013 $21,595,000.00 05th Year Arbitrage Rebate Calculation Period Bond Yield 03/12/13 to 03112/18 2.84130000% Investment Yield 2.34351594% Liability ($100,535.21) Period Arbitrage Rebate Calculation Ending Relevant Cash Flow Future Value Factor Adjustment 03/12/13 (25,019,818.57) 06/18/13 74,571.53 06/25/13 54,756.00 06/28/13 3,732.85 06/30/13 193,465.41 07/12/13 4,708.74 07/15/13 216.40 07/16/13 (4,653.22) 07/26/13 (35,937.88) 07/30/13 1,427,413.79 07/31/13 33, 199.38 08/07/13 (0.70) 08/09/13 6,003.84 08/13/13 7,922.85 08/15/13 280.62 08/20/13 24,841.78 08/23/13 3,199.61 08/27/13 2,888,379.00 08/31/13 91,474.83 09/03/13 36,809.27 09/06/13 4,686.20 09/10/13 131,045.91 09/16/13 216.40 09/17/13 384.00 09/20/13 3,511.39 09/24/13 4,932.50 09/30/13 (76,721.78) 10/01/13 6, 109,911.84 10/04/13 5,438.09 10/08/13 100.00 10/15/13 301.19 10/18/13 3,888.88 10/22/13 145,388.63 10/29/13 4,244,246.00 10/31/13 (1,703.70) 11/01/13 4,206.39 Arbitrage Compliance Specialists, Inc. 1.15149988% 1.14286909% 1.14224230% 1.14197378% 1.14179480% 1.14072152% 1.14045336% 1.14036399% 1.13947064% 1.13911350% 1.13911350% 1.13848876% 1.13831033% 1.13795355% 1.13777 520% 1 .13732946% 1.13706209% 1.13670570% 1.13643848% 1.13617133% 1.13590424% 1.13554821 % 1.13501438% 1.13492543% 1.13465863% 1.13430300% 1.13376976% 1.13368091 % 1.13341440% 1.13305915% 1.13243774% 1.13217153% 1.13181667% 1.13119594% 1.13110729% 1.13101865% Investment Yield Present Value Factor EXHIBIT 1 Control # 11.00 Page 1of3 Days of Total Future Value Period (28,810,318.01) 1800 85,225.50 1704 62,544.62 1697 4,262.82 1694 220,897.80 1692 5,371.36 1680 246.79 1677 (5,306.36) 1676 (40,950.16) 1666 1,625,986.31 1662 37,817.86 1662 (0.80) 1655 6,834.23 1653 9,015.84 1649 319.28 1647 28,253.29 1642 3,638.16 1639 3,283,236.88 1635 103,955.52 1632 41,821.64 1629 5,323.07 1626 148,808.95 1622 245.62 1616 435.81 1615 3,984.23 1612 5,594.95 1608 (86,984.83) 1602 6,926,690.39 1601 6,163.61 1598 113.31 1594 341.08 1587 4,402.88 1584 164,553.28 1580 4,801,073.85 1573 (1,927.07) 1572 4,757.51 1571 PAR Report Period Period Ending 11/05/13 11/12/13 11/15/13 11/19/13 11/26/13 11/27/13 11/30/13 12/10/13 12/13/13 12/16/13 12/17/13 12/27/13 12/31/13 01/10/14 01/14/14 01/15/14 01/24/14 01/31/14 02/04/14 02/07/14 02/11/14 02/13/14 02/15/14 02/18/14 02/21/14 02/25/14 02/28/14 03/04/14 03/07/14 03/11/14 03/12/14 03/12/14 03/14/14 03/18/14 03/21/14 03/25/14 03/29/14 03/31/14 04/01/14 04/04/14 04/08/14 04/15/14 $21,595,000.00 05th Year Arbitrage Rebate Calculation 03/12/13 to 03/12/18 Relevant Cash Flow 324.90 165,480.96 3,477.81 496.56 3,150,718.00 2,775.73 24,247.16 117,770.84 4,101.85 216.40 1,514,934.70 3, 132.23 79,887.25 1,383.43 3,052.44 216.40 2,208.26 (30,394.80) 1,145,789.06 5,042.70 39,763.56 (3,671,438.12) 228.23 1,669,682.00 (2,352.33) 5,580.00 (6,827.13) 74,280.37 (521,231.20) 389.76 (1,620.00) 972.00 270.51 2,751,697.39 4,795.30 55.44 11,243.58 116,521.94 119,450.29 4,251.24 773.60 32,257.37 Arbitrage Compliance Specialists, Inc. Future Value Factor 1.13066416% 1.13004406% 1.12977841% 1. 12942430% 1 .12880488% 1.12871642% 1.12845108% 1.12756707% 1.12730200% 1.12703699% 1.12694867% 1.12606583% 1.12580111% 1.12491917% 1.12456659% 1.12447846% 1.12368561% 1.12315736% 1.12280533% 1.12254138% 1.12218954% 1.12201366% 1.12183782% 1.12157409% 1.12131043% 1.12095898% 1.12069546% 1.12016862% 1.11990529% 1. 11955427% 1.11946654% 1.11946654% 1.11929109% 1.11894027% 1.11867723% 1.11832660% 1.11797608% 1.11788847% 1.11780087% 1 .11753809% 1.11718782% 1.11657512% Arbitrage Rebate Calculation Adjustment Computation Date Credit Investment Yield Present Value Factor EXHIBIT 1 Control # 11.00 Page 2 of 3 Days of Total Future Value Period 367.35 1567 187,000.78 1560 3,929.15 1557 560.83 1553 3,556,545.86 1546 3,133.01 1545 27,361.73 1542 132,794.52 1532 4,624.02 1529 243.89 1526 1,707,253.64 1525 3,527.10 1515 89,937.15 1512 1,556.25 1502 3,432.67 1498 243.34 1497 2,481.39 1488 (34, 138.14) 1482 1,286,498.06 1478 5,660.64 1475 44,622.25 1471 (4, 119,403.74) 1469 256.04 1467 1,872,672.07 1464 (2,637.69) 1461 6,254.95 1457 (7,651.13) 1454 83,206.54 1448 (583,729.58) 1445 436.36 1441 (1,813.54) 1440 1,088.12 1440 302.78 1438 3,078,985.02 1434 5,364.39 1431 62.00 1427 12,570.05 1423 130,258.53 1422 133,521.64 1421 4,750.92 1418 864.26 1414 36,017.78 1407 PAR Report Period Period Ending 04/18/14 04/22/14 04/25/14 04/30/14 05/02/14 05/06/14 05/13/14 05/16/14 05/20/14 03/12/15 $21,595,000.00 05th Year Arbitrage Rebate Calculation 03/12/13 to 03/12/18 Relevant Cash Flow 2,037.56 1,959,453.06 (393,230.55) (63,826.59) 2,551.36 18,786.80 20,085.08 1,848.36 1,660, 106.61 (1,650.00) 400, 164.84 Arbitrage Compliance Specialists, Inc. Future Value Factor 1.11631263% 1.11596275% 1.11570040% 1.11526330% 1.11508851% 1.11473901% 1.11412765% 1.11386574% 1.11351662% 1.08832433% Arbitrage Rebate Calculation Adjustment Investment Yield Present Value Factor Computation Date Credit Liability EXHIBIT 1 Control # 11.00 Page 3 of 3 Days of Total Future Value Period 2,274.55 1404 2, 186,676.62 1400 (438,727.48) 1397 (71, 183.45) 1392 2,844.99 1390 20,942.38 1386 22,377.34 1379 2,058.82 1376 1,848,556.30 1372 (1,795.74) 1080 (100,535.21) PAR Report Period $21,595,000.00 05th Year Arbitrage Rebate Calculation 03/12/13 to 03/12/18 Debt Service Fund Paid out of General Operating Fund Bona Fide Per Issuer Project Proceeds General Ledger -Fund 460 101.100 Wells Fargo Arbitrage Compliance Specialists, Inc. Listing of Investments by Fund EXHIBIT 2 Control # 11.00 Page 1 of 1 PAR $21,595,000.00 EXHIBIT 3 Report 05th Year Arbitrage Rebate Calculation Control # 11.00 Period 03/12/13 to 03/12/18 Page 1of3 Proof of Investment Yield Investment Yield 2.34351594% Period Ending Investments Present Value Factor Present Value Proceeds Present Value Factor Present Value 03/12/13 (25,019,818.57) 1.12355145% (28, 111,053.39) 1.12355145% 03/31/13 (34,654.21) 1.12224333% (38,890.46) 34,654.21 1.12224333% 38,890.46 04/30/13 (38,037.45) 1.12006653% (42,604.48) 38,037.45 1.12006653% 42,604.48 05/31/13 (40,590.65) 1.11789394% (45,376.04) 40,590.65 1.11789394% 45,376.04 06/18/13 1.11659241% 74,571.53 1.11659241 % 83,266.00 06/25/13 1.11608667% 54,756.00 1.11608667% 61,112.44 06/28/13 1.11587000% 3,732.85 1.11587000% 4, 165.38 06/30/13 (60,898.22) 1 . 11572557% (67, 945. 70) 254,363.63 1 .11572557% 283,800.00 07/12/13 1.11485940% 4,708.74 1.11485940% 5,249.58 07/15/13 1.11464296% 216.40 1.11464296% 241.21 07/16/13 (4,780.00) 1.11457083% (5,327.65) 126.78 1.11457083% 141.31 07/26/13 (39,145.90) 1. 11384972% (43,602.65) 3,208.02 1.11384972% 3,573.25 07/30/13 (1,240,905.00) 1.11356140% (1,381,823.91) 2,668,318.79 1.11356140% 2,971,336.82 07/31/13 (40,214.92) 1.11356140% (44,781.78) 73,414.30 1.11356140% 81,751.33 08/07/13 (0.70) 1.11305704% (0.78) 1.11305704% 08/09/13 1.11291297% 6,003.84 1.11291297% 6,681.75 08/13/13 1. 11262490% 7,922.85 1.11262490% 8,815.16 08/15/13 1.11248090% 280.62 1 .11248090% 312.18 08/20/13 1.11212096% 24,841.78 1.11212096% 27,627.06 08/23/13 1.11190505% 3,199.61 1.11190505% 3,557.66 08/27/13 1.11161724% 2,888,379.00 1.11161724% 3,210,771.91 08/31/13 (28,913.31) 1.11140144% (32, 134.30) 120,388.14 1.11140144% 133,799.55 09/03/13 1.11118567% 36,809.27 1.11118567% 40,901.93 09/06/13 1 . 11 096995% 4,686.20 1.11096995% 5,206.23 09/10/13 1.11068238% 131,045.91 1.11068238% 145,550.38 09/16/13 1.11025117% 216.40 1.11025117% 240.26 09/17/13 1.11017932% 384.00 1.11017932% 426.31 09/20/13 1.10996379% 3,511.39 1.10996379% 3,897.52 09/24/13 1.1 0967648% 4,932.50 1.10967648% 5,473.48 09/30/13 (169,246.50) 1.10924566% (187,735.94) 92,524.72 1.10924566% 102,632.64 10/01/13 1.10917387% 6, 109,911.84 1.10917387% 6,776,954.57 10/04/13 1.10895854% 5,438.09 1.10895854% 6,030.62 10/08/13 1.10867149% 100.00 1.10867149% 110.87 10/15/13 1.10816934% 301.19 1.10816934% 333.77 10/18/13 1.10795420% 3,888.88 1 .1 0795420% 4,308.70 10/22/13 1.10766741% 145,388.63 1.10766741% 161,042.25 10/29/13 1.10716572% 4,244,246.00 1.10716572% 4,699,083.66 10/31/13 (22,518.28) 1.10709406% (24,929.85) 20,814.58 1.10709406% 23,043.70 11/01/13 1.10702242% 4,206.39 1.10702242% 4,656.57 11/05/13 1.10673587% 324.90 1.10673587% 359.58 Arbitrage Compliance Specialists, Inc. PAR $21,595,000.00 EXHIBIT 3 Report 05th Year Arbitrage Rebate Calculation Control # 11.00 Period 03/12/13 to 03/12/18 Page 2 of 3 Proof of Investment Yield Period Ending Investments Present Value Factor Present Value Proceeds Present Value Factor Present Value 11/12/13 1.10623459% 165,480.96 1. 1 0623459% 183,060.76 11/15/13 1.10601983% 3,477.81 1.10601983% 3,846.53 11/19/13 1. 1 0573354 % 496.56 1 . 1 0573354 % 549.06 11/26/13 1. 1 0523272% 3, 150,718.00 1.10523272% 3,482,276.63 11/27/13 1.10516120% 2,775.73 1.10516120% 3,067.63 11/30/13 (13,256.95) 1.10494664% (14,648.23) 37,504.11 1.10494664% 41,440.04 12/10/13 1.10423176% 117,770.84 1.10423176% 130,046.30 12/13/13 1.10401738% 4,101.85 1.10401738% 4,528.51 12/16/13 1.10380305% 216.40 1.10380305% 238.86 12/17/13 1 .10373162% 1,514,934.70 1.10373162% 1,672,081.33 12/27/13 1.10301752% 3, 132.23 1.10301752% 3,454.90 12/31/13 (10,881.97) 1.10280338% (12,000.68) 90,769.22 1.10280338% 100,100.61 01/10/14 1.10208989% 1,383.43 1.10208989% 1,524.66 01/14/14 1.10180462% 3,052.44 1.10180462% 3,363.19 01/15/14 1.10173331% 216.40 1.10173331% 238.42 01/24/14 1.10109177% 2,208.26 1.10109177% 2,431.50 01/31/14 (39,435.82) 1.10066428% (43,405.60) 9,041.02 1.10066428% 9,951.12 02/04/14 1.10037938% 1, 145,789.06 1.10037938% 1,260,802.66 02/07/14 1.10016576% 5,042.70 1.10016576% 5,547.81 02/11/14 1.09988099% 39,763.56 1.09988099% 43,735.18 02/13/14 (3,671,438.12) 1.09973863% (4,037,622.32) 1.09973863% 02/15/14 1.09959629% 228.23 1.09959629% 250.96 02/18/14 1 . 09938281 % 1,669,682.00 1. 09938281 % 1,835,619.70 02/21/14 (4,780.00) 1.09916938% (5,254.03) 2,427.67 1.09916938% 2,668.42 02/25/14 1.09888487% 5,580.00 1.09888487% 6,131.78 02/28/14 (19,983.65) 1.09867153% (21,955.47) 13, 156.52 1.09867153% 14,454.70 03/04/14 1.09824498% 74,280.37 1.09824498% 81,578.04 03/07/14 (524,286.41) 1.09803177% (575,683.14) 3,055.21 1.09803177% 3,354.72 03/11/14 1.09774755% 389.76 1.09774755% 427.86 03/12/14 1.09767651 % 972.00 1.09767651% 1,066.94 03/14/14 1.09753444% 270.51 1.09753444% 296.89 03/18/14 1.09725035% 2,751,697.39 1.09725035% 3,019,300.92 03/21/14 1.09703733% 4,795.30 1.09703733% 5,260.62 03/25/14 1.09675337% 55.44 1.09675337% 60.80 03/29/14 1.09646948% 11,243.58 1.09646948% 12,328.24 03/31/14 (6,728.19) 1.09639852% (7,376.78) 123,250.13 1.09639852% 135,131.26 04/01/14 1.09632757% 119,450.29 1.09632757% 130,956.65 04/04/14 1.09611473% 4,251.24 1.09611473% 4,659.85 04/08/14 (704.00) 1.09583100% (771.47) 1,477.60 1 . 095831 00% 1,619.20 04/11/14 (232,441.80) 1.09561826% (254,667.48) 232,441.80 1.09561826% 254,667.48 04/15/14 1.09533467% 32,257.37 1.09533467% 35,332.62 04/18/14 1.09512202% 2,037.56 1.09512202% 2,231.38 Arbitrage Compliance Specialists, Inc. PAR Report Period Period Ending 04/22/14 04/25/14 04/30/14 05/02/14 05/06/14 05/13/14 05/16/14 05/20/14 05/31/14 $21,595,000.00 05th Year Arbitrage Rebate Calculation 03/12/13 to 03/12/18 Investments Present Value Factor (393,230.55) (67,994.92) (1,517.12) (31,726,403.22) 1.09483856% 1.09462600% 1.09427185% 1.09413021% 1.09384701% 1.09335157% 1.09313931% 1.09285635% 1.09214929% Arbitrage Compliance Specialists, Inc. Proof of Investment Yield Present Value (430,440.39) (74,404.93) (1,656.92) (35,506,094.35) Proceeds 1,959,453.06 4, 168.33 2,551.36 18,786.80 20,085.08 1,848.36 1,660, 106.61 1,517.12 32,129,838.06 Present Value Factor 1.09483856% 1.09462600% 1.09427185% 1.09413021% 1.09384701% 1. 09335157% 1.09313931% 1.09285635% 1.09214929% Present Value 2, 145,284. 76 4,561.29 2,791.52 20,549.88 21,960.05 2,020.51 1,814,258.06 1,656.92 35,506,094.35 EXHIBIT 3 Control # 11.00 Page 3 of 3 PAR Report Period $21,595,000.00 05th Year Arbitrage Rebate Calculation 03/12/13 to 03/12/18 Investment Detail -Project Proceeds -General Ledger -Fund 460 101.100 Wells Fargo Net 403,434.84 Date 03/12/13 03/31/13 03/31/13 04/30/13 04/30/13 05/31/13 05/31/13 06/18/13 06/25/13 06/28/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 06/30/13 100% $ Type (25,019,818.57) Principal (34,654.21) Principal 34,654.21 Interest (38,037.45) Principal 38,037.45 Interest (40,590.65) Principal 40,590.65 Interest 74,571.53 Maturity 54,756.00 Maturity 3,732.85 Maturity (10,000.00) Principal (1,862.51) Principal (100.82) Principal (48,934.89) Principal 48,934.89 Interest 0.58 Maturity 105. 73 Maturity 113.59 Maturity 240.12 Maturity 411.98 Maturity 788.97 Maturity 798.81 Maturity 992.30 Maturity 1,009.13 Maturity 1, 108.46 Maturity 1,171.99 Maturity 1, 195.67 Maturity 1,862.51 Maturity 4,739.64 Maturity 5,141.32 Maturity 5,341.02 Maturity 6,524.83 Maturity 173,882.09 Maturity Yield 2.34340756% Alloc. % Alloc. $ 100.00000% (25,019,818.57) 100.00000% (34,654.21) 100.00000% 34,654.21 100.00000% (38,037.45) 100.00000% 38,037.45 100.00000% (40,590.65) 100.00000% 40,590.65 100.00000% 74,571.53 100.00000% 54,756.00 100.00000% 3,732.85 100.00000% (10,000.00) 100.00000% (1,862.51) 100.00000% (100.82) 100.00000% (48,934.89) 100.00000% 48,934.89 100.00000% 0.58 100.00000% 105.73 100.00000% 113.59 100.00000% 240.12 100.00000% 411.98 100.00000% 788.97 100.00000% 798.81 100.00000% 992.30 100.00000% 1,009.13 100.00000% 1, 108.46 100.00000% 1,171.99 100.00000% 1, 195.67 100.00000% 1,862.51 100.00000% 4,739.64 100.00000% 5, 141.32 100.00000% 5,341.02 100.00000% 6,524.83 100.00000% 173,882. 09 Arbitrage Compliance Specialists, Inc. Wells Fargo Date 07/12/13 07/15/13 07/16/13 07/16/13 07/26/13 07/26/13 07/30/13 07/30/13 07/30/13 07/31/13 07/31/13 07/31/13 08/07/13 08/09/13 08/13/13 08/15/13 08/15/13 08/20/13 08/23/13 08/27/13 08/31/13 08/31/13 08/31/13 09/03/13 09/06/13 09/10/13 09/16/13 09/17/13 09/20/13 09/24/13 09/30/13 09/30/13 09/30/13 100% $ Type 4,708.74 Maturity 216.40 Maturity (4,780.00) Principal 126.78 Maturity (39, 145.90) Principal 3,208.02 Maturity (1,240,905.00) Principal 1,240,905.00 Maturity 1,427,413.79 Maturity (40,214.92) Principal 40,214.92 Interest 33, 199.38 Maturity (0. 70) Principal 6,003.84 Maturity 7,922.85 Maturity 64.22 Maturity 216.40 Maturity 24,841. 78 Maturity 3, 199.61 Maturity 2,888,379.00 Maturity (28,913.31) Principal 28,913.31 Interest 91,474.83 Maturity 36,809.27 Maturity 4,686.20 Maturity 131,045.91 Maturity 216.40 Maturity 384.00 Maturity 3,511.39 Maturity 4,932.50 Maturity (76,721.78) Principal (92,524.72) Principal 92,524.72 Interest Alloc.% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% Alloc. $ 4,708.74 216.40 (4,780.00) 126.78 (39, 145.90) 3,208.02 (1,240,905.00) 1,240,905.00 1,427,413.79 (40,214.92) 40,214.92 33,199.38 (0.70) 6,003.84 7,922.85 64.22 216.40 24,841.78 3,199.61 2,888,379.00 (28,913.31) 28,913.31 91,474.83 36,809.27 4,686.20 131,045.91 216.40 384.00 3,511.39 4,932.50 (76,721.78) (92,524.72) 92,524.72 Wells Fargo Date 10/01/13 10/04/13 10/08/13 10/15/13 10/15/13 10/18/13 10/22/13 10/29/13 10/31/13 10/31/13 10/31/13 11/01/13 11/05/13 11/12/13 11/15/13 11/15/13 11/19/13 11/26/13 11/27/13 11/30/13 11/30/13 11/30/13 12/10/13 12/13/13 12/16/13 12/17/13 12/27/13 12/31/13 12/31/13 12/31/13 12/31/13 12/31/13 12/31/13 100% $ Type 6, 109,911.84 Maturity 5,438.09 Maturity 100.00 Maturity 84. 79 Maturity 216.40 Maturity 3,888.88 Maturity 145,388.63 Maturity 4,244,246.00 Maturity (1, 703. 70) Principal (20,814.58) Principal 20,814.58 Interest 4,206.39 Maturity 324.90 Maturity 165,480.96 Maturity 216.40 Maturity 3,261.41 Maturity 496.56 Maturity 3, 150,718.00 Maturity 2,775.73 Maturity (13,256.95) Principal 13,256.95 Interest 24,247.16 Maturity 117,770.84 Maturity 4, 101.85 Maturity 216.40 Maturity 1,514,934.70 Maturity 3, 132.23 Maturity (10,881.97) Principal 10,881.97 Interest o. 72 Maturity 23.84 Maturity 118.58 Maturity 258.86 Maturity EXHIBIT 4 Control # 11.00 Page 1of2 Alloc.% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% Alloc. $ 6, 109,911.84 5,438.09 100.00 84.79 216.40 3,888.88 145,388.63 4,244,246.00 (1,703.70) (20,814.58) 20,814.58 4,206.39 324.90 165,480.96 216.40 3,261.41 496.56 3, 150,718.00 2,775.73 (13,256.95) 13,256.95 24,247.16 117,770.84 4,101.85 216.40 1,514,934.70 3,132.23 (10,881.97) 10,881.97 0.72 23.84 118.58 258.86 PAR Report Period $21,595,000.00 05th Year Arbitrage Rebate Calculation 03/12/13 to 03/12/18 Investment Detail -Project Proceeds -General Ledger -Fund 460 101.100 Wells Fargo Date 12/31/13 12/31/13 12/31/13 12/31/13 12/31/13 12/31/13 12/31/13 12/31/13 12/31/13 12/31/13 12/31/13 12/31/13 12/31/13 01/10/14 01/14/14 01/15/14 01/24/14 01/31/14 01/31/14 01/31/14 02/04/14 02/07/14 02/11/14 02/13/14 02/15/14 02/18/14 02/21/14 02/21/14 02/25/14 02/28/14 02/28/14 02/28/14 03/04/14 100% $ Type 429.20 Maturity 497.55 Maturity 508.72 Maturity 539.32 Maturity 553.80 Maturity 729.51 Maturity 934.56 Maturity 1, 189.55 Maturity 1,283.57 Maturity 2,653.28 Maturity 6,691.90 Maturity 22,753.88 Maturity 40,720.41 Maturity 1,383.43 Maturity 3,052.44 Maturity 216.40 Maturity 2,208.26 Maturity (30,394.80) Principal (9,041.02) Principal 9,041.02 Interest 1,145,789.06 Maturity 5,042.70 Maturity 39,763.56 Maturity (3,671,438.12) Principal 228.23 Maturity 1,669,682.00 Maturity (4,780.00) Principal 2,427.67 Maturity 5,580.00 Maturity (6,827.13) Principal (13,156.52) Principal 13, 156.52 Interest 74,280.37 Maturity Alloc.% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% Arbitrage Compliance Specialists, Inc. Alloc. $ 429.20 497.55 508.72 539.32 553.80 729.51 934.56 1,189.55 1,283.57 2,653.28 6,691.90 22,753.88 40,720.41 1,383.43 3,052.44 216.40 2,208.26 (30,394.80) (9,041.02) 9,041.02 1, 145,789.06 5,042.70 39,763.56 (3,671,438.12) 228.23 1,669,682.00 (4,780.00) 2,427.67 5,580.00 (6,827.13) (13,156.52) 13,156.52 74,280.37 Wells Fargo Date 03/07/14 03/07/14 03/11/14 03/12/14 03/14/14 03/18/14 03/21/14 03/25/14 03/29/14 03/29/14 03/29/14 03/29/14 03/29/14 03/29/14 03/29/14 03/29/14 03/29/14 03/29/14 03/29/14 03/29/14 03/29/14 03/31/14 03/31/14 03/31/14 03/31/14 04/01/14 04/04/14 04/08/14 04/08/14 04/08/14 04/08/14 04/11/14 04/11/14 100% $ Type (524,286.41) Principal 3,055.21 Maturity 389.76 Maturity 972.00 Maturity 270.51 Maturity 2,751,697.39 Maturity 4,795.30 Maturity 55.44 Maturity 0.60 Maturity 70.08 Maturity 78.02 Maturity 149.60 Maturity 281.47 Maturity 357.43 Maturity 365.84 Maturity 397.13 Maturity 466.15 Maturity 541 . 95 Maturity 1,051.78 Maturity 2, 138.13 Maturity 5,345.40 Maturity (6,728.19) Principal 6,728.19 Interest 301.04 Maturity 116,220.90 Maturity 119,450.29 Maturity 4,251.24 Maturity (704.00) Principal 69.60 Maturity 704.00 Maturity 704.00 Maturity (116,220.90) Principal (116,220.90) Principal Alloc.% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% Alloc. $ (524,286.41) 3,055.21 389.76 972.00 270.51 2,751,697.39 4,795.30 55.44 0.60 70.08 78.02 149.60 281.47 357.43 365.84 397.13 466.15 541.95 1,051.78 2,138.13 5,345.40 (6,728.19) 6,728.19 301.04 116,220.90 119,450.29 4,251.24 (704.00) 69.60 704.00 704.00 (116,220.90) (116,220.90) Wells Fargo Date 04/11/14 04/11/14 04/15/14 04/15/14 04/18/14 04/22/14 04/25/14 04/30/14 04/30/14 04/30/14 05/02/14 05/06/14 05/13/14 05/16/14 05/16/14 05/20/14 05/31/14 05/31/14 100% $ Type 116,220.90 Maturity 116,220.90 Maturity 204.57 Maturity 32,052.80 Maturity 2,037.56 Maturity 1,959,453.06 Maturity (393,230.55) Principal (63,826.59) Principal (4, 168.33) Principal 4, 168.33 Interest 2,551.36 Maturity 18,786.80 Maturity 20,085.08 Maturity 216.40 Maturity 1,631.96 Maturity 1,660, 106.61 Maturity (1,517.12) Principal 1,517.12 Interest EXHIBIT 4 Control # 11.00 Page 2 of 2 Alloc.% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% 100.00000% Alloc.$ 116,220.90 116,220.90 204.57 32,052.80 2,037.56 1,959,453.06 (393,230.55) (63,826.59) (4,168.33) 4,168.33 2,551.36 18,786.80 20,085.08 216.40 1,631.96 1,660, 106.61 (1,517.12) 1,517.12 $21,595,000.00 PAR Report Period 05th Year Arbitrage Rebate Calculation 03/12/13 to 03/12/18 Period 03/12/13 to 03/12/18 Date Transaction Type 03/12/14 Computation Date 03/12/15 Computation Date Arbitrage Compliance Specialists, Inc. Amount (1,620.00) (1,650.00) Calculation Credits EXHIBIT 5 Control # 11.00 Page 1 of 1