ORD 39900 - General obligation bonds - equipment ° `p9 " ' ' Law Department
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City of Omaha ' -" Paul D. Kratz
Jean Stothert,Mayor City Attorney
Honorable President
and Members of the City Council,
Attached hereto for your consideration is an Ordinance which proposes to submit to the qualified
electors of the City of Omaha, for their approval or rejection at the Special City Election to be
held on May 13, 2014, the question whether or not the City Council shall be authorized to issue
and sell without further vote of the people General Obligation Bonds in an amount not to exceed
Fourteen Million Five Hundred Eleven Thousand and No/100 Dollars ($14,511,000).
Bonds under this Ordinance may be issued for the purpose of providing funds for the payment of
the cost of various park and recreation improvement projects, including necessary plans and
specifications, but excluding the cost of City construction equipment and payment of salaries to
City employees.
This bond authorization funds the projects identified in the 2014-2019 CIP, which was approved
by City Council Resolution No. 1160 on August 27, 2013.
The approval of this Bond issue will not incur any increases in the Property Tax Levy Rate of the
City of Omaha over the 2014 tax levy rate as applicable to the 2015 tax collection year.
Respectfully submitted, Referred to City Council for Consideration:
64/.1 V/0F /‹
Stephe B. Curtiss ate Mayor's Office Date!
E.
Finance Director i
p:\law—city council documents\2013\50073s1w.doc
ORDINANCE NO. L39.690
I AN ORDINANCE to provide that the City Council of the City of Omaha be authorized to issue
2 and sell, from time to time, but no later than December 31, 2022, without further vote of
3 the electorate, General Obligation Bonds of the City of Omaha in an amount not to
4 exceed Fourteen Million Five Hundred Eleven Thousand and No/100 Dollars
5 ($14,511,000) for the purpose of providing funds for the payment of the cost of various
6 park and recreation improvement projects, including necessary plans and specifications,
7 but excluding the cost of City construction equipment and payment of salaries to City
8 employees; and to provide for the submission of this proposal to the qualified electors of
9 the City of Omaha for their approval or rejection at the Special City Election to be held
10 on May 13, 2014; and to provide the effective date hereof.
11 BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA:
12 Section 1. That there be, and hereby is, called a Special City Election to be held in the
13 City of Omaha, Douglas County,Nebraska, on May 13, 2014 for the purpose of submitting to the
14 qualified electors at said Special City Election, for their approval or rejection a proposal to
15 authorize the City Council of the City of Omaha, without further vote of the electorate, to issue
16 and sell General Obligation Bonds of the City of Omaha in an amount not to exceed Fourteen
17 Million Five Hundred Eleven Thousand and No/100 Dollars ($14,511,000) from time to time,
18 but not later than December 31, 2022, for the purpose of providing funds for the payment of the
19 cost of various park and recreation improvement projects, including necessary plans and
20 specifications, but excluding the cost of City construction equipment and payment of salaries to
21 City employees.
ORDINANCE NO. L5 WOO
PAGE 2
Such bonds shall be payable from taxes upon all taxable property in said City, subject to
2 taxation by said City, in amount required to be levied by Section 5.07 of the Home Rule Charter
3 of the City of Omaha, 1956, as amended, for the payment of the indebtedness of said City. No
4 other election shall be required to authorize the issuance of such bonds. Bonds issued pursuant
5 to this authority shall be required to authorize the issuance of such bonds. Bonds issued pursuant
6 to this authority shall mature in such amounts and at such times as the City Council shall
7 determine but not more than twenty (20) years from the date thereof.
8 The approximate cost to the taxpayers of the City that will be incurred if this proposal is
9 approved and the City Council authorizes, issues and delivers all the bonds for the purpose
to herein provided is Fourteen Million Five Hundred Eleven Thousand and No/100 Dollars
11 ($14,511,000) plus interest to be payable on such bonds and the approval of this Bond issue will
12 not incur any increase in the Property Tax Levy Rate of the City of Omaha.
13 Section 2. That said proposition shall be submitted to the qualified electors of the City
14 of Omaha in substantially the following form:
15 "STATE OF NEBRASKA
16 COUNTY OF DOUGLAS
17 CITY OF OMAHA
18
19 OFFICIAL BALLOT
20 SPECIAL CITY ELECTION
21 HELD MAY 13, 2014
22 $14,511,000 PARK & RECREATION BONDS
23 SHALL THE CITY OF OMAHA BE AUTHORIZED TO ISSUE AND SELL
24 GENERAL OBLIGATION BONDS IN THE AMOUNT OF FOURTEEN MILLION FIVE
25 HUNDRED ELEVEN THOUSAND AND NO/100 DOLLARS ($14,511,000) FOR THE
26 PURPOSE OF PROVIDING FUNDS FOR PAYMENT OF THE COST OF VARIOUS PARK
ORDINANCE NO. (39966
PAGE 3
1 AND RECREATION IMPROVEMENT PROJECTS OF CITY OF OMAHA, THE
2 APPROXIMATE COST TO THE TAXPAYERS OF THE CITY OF OMAHA IF THIS
3 PROPOSAL IS APPROVED TO BE FOURTEEN MILLION FIVE HUNDRED ELEVEN
4 THOUSAND AND NO/100 DOLLARS ($14,511,000) PLUS INTEREST PAYABLE ON SAID
5 BONDS TO BE PAID FROM THE FUND FOR PRINCIPAL AND INTEREST PAYMENTS
6 ON THE INDEBTEDNESS OF THE CITY OF OMAHA AS PROPOSED IN THE NOTICE
7 OF ELECTION WHICH ALSO PROVIDES THAT THE APPROVAL OF THIS BOND ISSUE
8 WILL NOT INCUR ANY INCREASES IN THE PROPERTY TAX LEVY RATE OF THE
9 CITY OF OMAHA?
10
11 YES
12 NO"
13 Section 3. Under said question and proposition on the ballot shall be printed the word
14 "Yes" and the word "No". All ballots of qualified electors cast at the aforesaid election with an
15 "X" or other clear or intelligible mark placed before the word "Yes" shall be understood to be,
16 and shall be counted, in favor of the proposition set forth in said question, and all ballots of
17 qualified electors cast at the aforesaid election with an "X" or other clear or intelligible mark
18 placed before the word "No" shall be understood to be, and shall be counted, against the
19 proposition set forth in said question.
20 Section 4. That said ballots shall be white in color and printed in black ink or other
21 color designated in conformance with Section 32-806 of the Revised Statutes of Nebraska, 1943,
22 as amended.
23 Section 5. The officer having charge of General and Special Elections of the City of
24 Omaha shall conduct the election on the question herein provided in all respects the same as
25 other City elections and in the manner provided by law.
26 Section 6. The City Clerk is hereby directed to transmit a certified copy of this
27 Ordinance to the Election Commissioner of Douglas County, Nebraska, and to give public notice
28 to the electors, as provided by law.
ORDINANCE NO. (39906
PAGE 4
1 Section 7. This Ordinance is declared to be administrative and not legislative in
2 character and, therefore, under the provisions of Section 2.12 of the Home Rule Charter of the
3 City of Omaha, 1956, as amended, and Rule 7 of the Rules adopted by the City Council of the
4 City of Omaha, it shall become effective from and after its adoption.
INTRODUCED BY COUNCILMEMBER
01,*.t. APPROVED BY:
i",t,t,..... --,--f- _, /-iO"/9
MAYOR OF THE CITY OF OMAHA DATE
PASSED ' JAN 2 8 2014 7-a
ATTEST:
LIB 4 VV/A1
DEPLLIY, CITY CLERK OF THE CITY OF OMAHA DATE
�'�AP VED AS1 TO M:
1 2-/NX.5
CITY ATTORNEY DATE
p:Alaw—city council documents\2013\50074s1w.doc
ORDINANCE NO. t344
AN ORDINANCE to provide that the
City Council of the City of Omaha be
authorized to issue and sell, from time
to time, but no later than December 31,
2022, without further vote of the
electorate, General Obligation Bonds of
the City of Omaha in an amount not to
exceed Fourteen Million Five Hundred
Eleven Thousand and No/100 Dollars
($14,511,000) for the purpose of
providing funds for the payment of the
cost of various park and recreation
improvement projects, including
necessary plans and specifications, but
excluding the cost of City construction
equipment and payment of salaries to
City employees; and to provide for the
submission of this proposal to the PRESENTED TO COUNCIL
qualified electors of the City of Omaha
for their approval or rejection at the 1st Reading JAN 7 2014
Special City Election to be held on May 09
13, 2014; and to provide the effective
date hereof.
Hearin 1 4 14 -4
PUBLICATIONS p:\law — city council /�y � �
documents\2013\50075s1w.doc 1
i }
PUBLICATION OF HEARING
Final Reading JAN Z 8 2014
Date j-- k6--j - ;pissed 7_o
PUBLICATION OF ORDINANCE
BUSTER BROWN
Date yZ.— L. - 1 City Clerk