2021-10-05 SID 577 Minutes MINUTES OF MEETING
OF
SANITARY AND IMPROVEMENT DISTRICT NO. 577
OF DOUGLAS COUNTY, NEBRASKA
A meeting of the Board of Trustees of Sanitary and Improvement District No. 577 of Douglas
County, Nebraska, was convened in open and public session at 9:00 a.m. on the 5th day of October, 2021,
at 10250 Regency Circle, Suite 300, Omaha, Nebraska.
Present were: John C. Allen, Jeanne D. Knox, Gerald L. Torczon, Doris J. Nicholson and Jeffery
Torczon.
Absent: None.
Notice of the meeting was given in advance thereof by publication in The Daily Record on
September 30, 2021, a copy of the proof of publication being attached to these minutes. Notice of this
meeting was simultaneously given to all members of the Board of Trustees, and a copy of their
acknowledgment of receipt of notice is attached to these minutes. Availability of the agenda was
communicated in the published notice and in the notice to the Trustees of this meeting. All proceedings of
the Board were taken while the convened meeting was open to the attendance of the public. The agenda
was at all times available at the office for the District at 10250 Regency Circle, Suite 300, Omaha, Nebraska
68114.
The meeting was called to order by the undersigned presiding as Chairman.
The Chairman publicly stated to all in attendance that a current copy of the Nebraska Open
Meetings Act was available for review and indicated the location of such copy in the room where the
meeting was being held.
There were next presented miscellaneous bills, invoices, statements, and recommendations for the
Board's consideration.
There was next presented correspondence from Lamp Rynearson, engineers for the District
presenting and recommending payment in favor of Luxa Construction Company, Inc. for paving the
connection at 222nd Street and I Street, in conjunction with the Westbury Farm Paving, Section 1 project,
Invoice No. 2020080.10 in the amount of Thirty-One Thousand Six Hundred Sixty-One and 50/100 Dollars
($31,661.50).
There was next presented a statement from Pansing Hogan Ernst & Bachman LLP, attorneys for
the District for services rendered in construction-related matters in the amount of One Thousand Five
Hundred Eighty-Five and no/100 Dollars($1,585.00).
The Clerk next directed the attention of the Board of Trustees to the fact that D.A. Davidson & Co.
will purchase Thirty-Three Thousand Two Hundred Forty-Six and 50/100 Dollars ($33,246.50) in warrants at
this time and that the contracted charge for such purchase of warrants is four percent (4%) or One
Thousand Three Hundred Twenty-Nine and 86/100 Dollars ($1,329.86) in accordance with the financing
agreement previously adopted by the Board.
There was next presented correspondence from Lamp Rynearson, engineers for the District,
presenting and recommending payment in favor of Royal Lawns Inc. for green area maintenance as follows:
(i) Invoice No. 7779 in the amount of Two Thousand Fifteen and no/100 Dollars ($2,015.00); and (ii) Invoice
No. 7829 in the amount of Four Thousand Two Hundred and no/100 Dollars ($4,200.00); said statements
being in the aggregate amount of Six Thousand Two Hundred Fifteen and no/100 Dollars ($6,215.00).
There was next presented correspondence from Lamp Rynearson, engineers for the District
presenting and,recommending payment in favor of Commercial Seeding Contractors for erosion control
maintenance, Invoice No. 24889 in the amount of One Thousand Four Hundred Forty and no/100 Dollars
($1,440.00).
There was next presented correspondence from Lamp Rynearson, engineers for the District
presenting and recommending payment in favor of Jerry Jensen Construction Inc. for paving maintenance,
Invoice No. 9 in the amount of Seventeen Thousand Nine Hundred Ninety-Eight and no/100 Dollars
($17,998.00).
There was next presented a statement from M.J.A. Trucking, L.L.C. for clean-up and removal of
mud from streets, Invoice No. 19746 in the amount of Two Hundred Seventy-Five and no/100 Dollars
($275.00).
There were next presented statements from Boice Landscaping as follows: (i) Invoice No. 3740 in
the amount of Two Thousand Seven Hundred Forty-Three and 48/100 Dollars ($2,743.48); (ii) Invoice No.
3746 in the amount of Five Hundred Forty and no/100 Dollars ($540.00); and (iii) Invoice No. 3767 in the
amount of Three Thousand Three Hundred Ninety-Four and 14/100 Dollars ($3,394.14); said statements
being in the aggregate amount of Six Thousand Six Hundred Seventy-Seven and 62/100 Dollars
($6,677.62).
There was next presented a statement from Metropolitan Utilities District for service at the 21701
"F" Street location from August 13, 2021 through September 13, 2021 in the amount of Thirty-Nine and
82/100 Dollars ($39.82). The Board was reminded that an advance payment in the amount of Five
Hundred and no/100 Dollars ($500.00) was made at the September 10, 2021 Board of Trustees meeting.
The Board directed additional advance payment in the amount of One Hundred Fifty and no/100 Dollars
($150.00).
There was next presented a statement from Metropolitan Utilities District for service at the 21901
"F" Street location from August 13, 2021 through September 13, 2021 in the amount of One Hundred Thirty-
Five and 69/100 Dollars ($135.69). The Board was reminded that an advance payment in the amount of
Five Hundred and no/100 Dollars ($500.00) was made at the September 10, 2021 Board of Trustees
meeting. The Board directed additional advance payment in the amount of Two Hundred Fifty and no/100
Dollars ($250.00).
There were next presented statements from Lamp Rynearson, engineers for the District, for
miscellaneous engineering services rendered as follows: (i) through August 14, 2021, Invoice No.
0115133.90-0000049 in the amount of Two Thousand Two Hundred Forty-Eight and 83/100 Dollars
($2,248.83); and (ii) through September 11, 2021, Invoice No. 0115133.90-0000050 in the amount of Two
Thousand One Hundred Sixty-Six and 14/100 Dollars ($2,166.14); said statements being in the aggregate
amount of Four Thousand Four Hundred Fourteen and 97/100 Dollars ($4,414.97).
The Clerk next directed the attention of the Board of Trustees to the fact that D.A. Davidson & Co.
will purchase Thirty-Seven Thousand Four Hundred Twenty and 59/100 Dollars ($37,420.59) in warrants at
this time and that the contracted charge for such purchase of warrants is four percent (4%) or One
Thousand Four Hundred Ninety-Six and 82/100 Dollars ($1,496.82) in accordance with the financing
agreement previously adopted by the Board. The Chairman recommended the issuance of a warrant for
such amount to D.A. Davidson & Co.
The previously described bills, invoices, recommendations and statements having been presented
for the Board's consideration and after review and discussion of such items, the following resolution was
duly moved and passed:
RESOLVED, by the Board of Trustees of Sanitary and Improvement
District No. 577 of Douglas County, Nebraska, that the Chairman and
Clerk be and they hereby authorized and directed to execute and deliver
Warrant Nos. 1476 through 1481 of the District, dated the date of this
meeting, to the following payees and in the following amounts, said
Warrants to be drawn on the Construction Fund of the District and to draw
interest at the rate of seven percent (7%) per annum (interest to be
payable on October 10 of each year) and to be redeemed no later than
October 5, 2026, subject to extension of said maturity date by order of the
District Court of Douglas County, Nebraska, after notice is given as
required by law, to-wit:
Warrant Nos. 1476 through 1478, each for the amount of Ten
Thousand and no/100 Dollars ($10,000.00), and Warrant No. 1479, for the
amount of One Thousand Six Hundred Sixty-One and 50/100 Dollars
($1,661.50), payable to Luxa Construction Company, Inc., Inv.
2020080.10.
Warrant No. 1480, for the amount of One Thousand Five Hundred
Eighty-Five and no/100 Dollars ($1,585.00), payable to Pansing Hogan
Ernst& Bachman LLP.
Warrant No. 1481, for the amount of One Thousand Three
Hundred Twenty-Nine and 86/100 Dollars ($1,329.86), payable to D.A.
Davidson & Co.
FURTHER RESOLVED, by the Board of Trustees of Sanitary and
Improvement District No. 577 of Douglas County, Nebraska, that the
Chairman and Clerk be and they hereby authorized and directed to
execute and deliver Warrant Nos. 1482 through 1495 of the District, dated
the date of this meeting, to the following payees and in the following
amounts, said Warrants to be drawn on the General Fund of the District
and to draw interest at the rate of seven percent(7%) per annum and to be
redeemed no later than October 5, 20241, subject to extension of said
maturity date by order of the District Court of Douglas County, Nebraska,
after notice is given as required by law, to-wit:
Warrant No. 1482, for the amount of Five Thousand and no/100
Dollars ($5,000.00), and Warrant No. 1483, for the amount of One
Thousand Two Hundred Fifteen and no/100 Dollars ($1,215.00), payable
to Royal Lawns Inc., Inv. 7779, 7829.
Warrant No. 1484, for the amount of One Thousand Four Hundred
Forty and no/100 Dollars ($1,440.00), payable to Commercial Seeding
Contractors, Inv. 24889.
Warrant Nos. 1485 through 1487, each for the amount of Five
Thousand and no/100 Dollars ($5,000.00), and Warrant No. 1488, for the
amount of Two Thousand Nine Hundred Ninety-Eight and no/100 Dollars
($2,998.00), payable to Jerry Jensen Construction Inc., Inv. 9.
Warrant No. 1489, for the amount of Two Hundred Seventy-Five
and no/100 Dollars ($275.00), payable to M.J.A. Trucking, L.L.C., Inv.
19746,
Warrant No. 1490, for the amount of Five Thousand and no/100
Dollars ($5,000.00), and Warrant No. 1491, for the amount of One
Thousand Six Hundred Seventy-Seven and 62/100 Dollars ($1,677,62),
payable to Boice Landscaping, Inv. 3740, 3746, 3767.
Warrant No. 1492, for the amount of One Hundred Fifty and
no/100 Dollars ($150.00), payable to Metropolitan Utilities District, Acct.
110000440545.
Warrant No. 1493, for the amount of Two Hundred Fifty and
no/100 Dollars ($250.00), payable to Metropolitan Utilities District, Acct.
110000440547.
Warrant No. 1494, for the amount of Four Thousand Four
Hundred Fourteen and 97/100 Dollars ($4,414.97), payable to Lamp
Rynearson, Inv. 0115133.90-49, 50.
Warrant No. 1495, for the amount of One Thousand Four Hundred
Ninety-Six and 82/100 Dollars ($1,496.82), payable to D.A. Davidson &
Co.
FURTHER RESOLVED by the Board of Trustees of Sanitary and
Improvement District No. 577 of Douglas County, Nebraska, that both
they and the district hereby find and determine and covenant, warrant
and agree as follows; the improvements and/or facilities being financed
or refinanced by the above Warrants are for essential governmental
functions and are designed to serve members of the general public on an
equal basis; all said improvements have from the time of their first
acquisition and construction been owned, are owned and are to be
owned by the District or another political subdivision; to the extent
special assessments have been or are to be levied for any of said
improvements, such special assessments have been or are to be levied
under Nebraska law as a matter of general application to all property
specially benefited by said improvements in the District; the development
of the land in the District is for residential or commercial use and the
development of the land in the District for sale and occupation by the
general public has proceeded and is proceeding with reasonable speed;
other than any incidental use of said improvements by a developer
during the initial period of development of said improvements, there have
been, are and will be no persons with rights to use such improvements
other than as members of the general public; none of the proceeds of
said Bonds or any refinanced indebtedness have been or will be loaned
to any private person or entity; the District hereby authorizes and directs
the Chairperson or Clerk to file or cause to be filed, when due, an
information reporting form pursuant to Section 149(e) of the Internal
Revenue Code of 1986, as amended, pertaining to the above Warrants;
and the District does not reasonably expect to sell or otherwise dispose
of said improvements and/or facilities, in whole or in part, prior to the last
maturity of the above Warrants,
FURTHER RESOLVED by the Board of Trustees of Sanitary and
Improvement District No. 577 of Douglas County, Nebraska, that the
District hereby covenants, warrants and agrees as follows: (a) to take all
actions necessary under current federal law to maintain the tax exempt
status (as to taxpayers generally) of interest on the above Warrants; and
(b) to the extent that it may lawfully do so, the District hereby designates
the above Warrants as its "qualified tax exempt obligations" under
Section 265(b)(3)(B)(i)(III) of the Internal Revenue Code of 1986, as
amended, and covenants and warrants that the District does not
reasonably expect to issue warrants or bonds or other obligations
aggregating in the principal amount of more than $10,000,000 during the
calendar year in which the above Warrants are to be issued.
FURTHER RESOLVED, by the Board of Trustees of Sanitary and
Improvement District No. 577 of Douglas County, Nebraska, that this and
the preceding Resolutions are hereby adopted as the Certificate With
Respect to Arbitrage of the District pertaining to the above Warrants and
the District and the Chairman and Clerk of the District hereby further
certify, as of the date of the registration of the above Warrants with the
County Treasurer of Douglas County, Nebraska, as follows:
1. No separate reserve or replacement fund has been or will
be established with respect to the above Warrants. The District
reasonably anticipates that monies in its Bond Fund reasonably
attributable to the above Warrants in excess of the lesser of: (a) ten
percent (10%) of the net principal proceeds of the above Warrants, (b) the
maximum annual debt service due on the above Warrants, or (c) one
hundred twenty-five percent (125%) of average annual debt service due
on the above Warrants will be expended for payment of principal of and
interest on the above Warrants within thirteen (13) months after receipt of
such monies. That amount which is currently held in the District's Bond
Fund which exceeds the amount which is to be expended for payment of
principal and interest on the above Warrants within thirteen (13) months
after receipt of such monies, plus that amount arrived at pursuant to the
immediately preceding sentence, will not be invested in any securities or
any other investment obligations which bear a yield, as computed in
accordance with the actuarial method, in excess of the yield on the above
Warrants.
2. To the best of their knowledge, information and belief, the
above expectations are reasonable.
3, The District has not been notified of any listing of it by the
Internal Revenue Service as an issuer that may not certify its bonds.
4, This Certificate is being passed, executed and delivered
pursuant to Section 1.148-2(b)(2) of the Income Tax Regulations under the
Internal Revenue Code of 1986, as amended.
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The Clerk next reviewed the Agenda which had been available for public inspection in accordance
with the law prior to this meeting of the Board of Trustees and reported that all matters considered by the
Board at this meeting appeared on the Agenda.
Jeanne D. Knox, as Clerk for Sanitary and Improvement District No. 577 of Douglas County,
Nebraska (the "District") does hereby certify that the above proceedings are a true and accurate statement
of the proceedings had by the District at its October 5, 2021 meeting.
J nr� D. Knox, Clerk