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2021-11-15 SID 606 Minutes MINUTES OF MEETING DEC 13'21 At 1_O:12 :i+;,Clerk Omaha NE-RUM OF SANITARY AND IMPROVEMENT DISTRICT NO. 606 OF DOUGLAS COUNTY, NEBRASKA A meeting of the Board of Trustees of Sanitary and Improvement District No. 606 of Douglas County, Nebraska, was convened in open and public session at 8:30 a.m. on the 15th day of November, 2021, at 3305 North 1915r Avenue, Elkhorn, Nebraska. Present were: Marc Stodola, Kirk Alloway, Michael E. Freestone, Jamie Wiedel and Justyn Kearney. Absent: None. Notice of the meeting was given in advance thereof by publication in The Daily Record on October25 and November 1, 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. Upon roll call, all of the Trustees were present. It was first 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. The Clerk first reported that a complete statement of costs in connection with the installation of (1) Storm Sewer&Paving(Flanagan Pointe); (2) Interceptor Sewer(Flanagan Pointe); (3) City of Omaha Review Fee (Flanagan Pointe); (4) City of Omaha Park Fee (Flanagan Pointe); (5) Douglas County Schools Fee (Flanagan Pointe); (6) Water (Flanagan Pointe); and (7) Power (Flanagan Pointe) (the "Improvements"); and all work incidental thereto and the scheduled amounts proposed to be assessed for such improvements against each piece of property in the District had been delivered to the City of Omaha, Nebraska, on the 28'h day of October, 2021, by having the same hand delivered to the Clerk and Engineer of such City and the Clerk presented a Receipt showing that such documents had been given to the City Clerk and the City Engineer within seven (7) days after the first publication of notice of the filing of a statement, plat and schedule and that a copy of such notice was also delivered. The Chairman directed the Clerk to attach a copy of the documents delivered showing receipt for same to the minutes of these proceedings. The Clerk further certified that a schedule of the proposed assessments as well as a copy of the published notice had been given to each owner of record as to each separate piece of property for which proposed assessments had been made which notice contained the amount proposed to be assessed against such property for the scheduled improvements and that such notice had been given within five (5) days after the first publication of notice on October 28, 2021. The Clerk further certified that an identical copy of the plat and schedule of proposed assessments together with a complete statement of costs had been given to D.A. Davidson & Co., the fiscal agent and underwriter of the District, detailing the proposed assessments as related to each individual piece of property and for each individual improvement and that such notice had been given within five (5) days after the first publication of notice on October 28, 2021. The Chairman then presented to the Board the proposed special assessments for(1) Storm Sewer & Paving (Flanagan Pointe); (2) Interceptor Sewer(Flanagan Pointe); (3) City of Omaha Review Fee (Flanagan Pointe); (4) City of Omaha Park Fee (Flanagan Pointe); (5) Douglas County Schools Fee (Flanagan Pointe); (6) Water(Flanagan Pointe);and(7) Power(Flanagan Pointe). The City of Omaha, Nebraska, has indicated no objection to the proposed special assessments. The Chairman noted that no objections had been presented to the Clerk of the District and further pointed out that it appeared as a result of the discussion of the Board that the engineer's recommendation with regard to the amount of the special assessments in relation to the total cost of the various projects was proper and in accordance with the terms of the Subdivision Agreement entered into previously between the District and the City of Omaha, Nebraska. A motion was made and seconded and upon a roll call vote, the Trustees, Marc Stodola, Kirk Alloway, Michael E. Freestone, Jamie Wiedel and Justyn Kearney voted "Aye" with none voting "Nay"to accept the recommendation of the engineers for the District with respect to the method of allocating costs and special assessments for the previously referenced projects and that the assessments as proposed be adopted. Upon a motion duly made and seconded and upon a roll call vote the Trustees, Marc Stodola, Kirk Alloway, Michael E. Freestone, Jamie Wiedel and Justyn Kearney voted "Aye" with none voting "Nay" thereby adopting the following Resolution: RESOLVED, that the Board of Trustees of Sanitary and Improvement District No. 606 of Douglas County, Nebraska, sitting as a Board of Adjustment and Equalization find and determine: 1) That the engineers employed by the District have prepared and filed with the Clerk of the Board of Trustees completed statements of costs in connection with the construction of(1 Storm Sewer& Paving (Flanagan Pointe); (2) Interceptor Sewer (Flanagan Pointe); (3) City of Omaha Review Fee (Flanagan Pointe); (4) City of Omaha Park Fee (Flanagan Pointe);(5) Douglas County Schools Fee(Flanagan Pointe);(6) Water (Flanagan Pointe); and (7) Power (Flanagan Pointe); and all work incidental thereto, a plat of the property in the District where such improvements had been made and a schedule of the amount proposed to be assessed against each individual and separate piece of property in such District, all in accordance with the statutory requirements of the State of Nebraska; 2) That such statement of costs, plat and schedule of proposed assessments are on file in the Office of the Clerk and that notice stating that all objections to these proceedings or to prior proceedings on account of errors, irregularities or inequalities must be made in writing and filed with the Clerk of the District within twenty (20) days after the first publication of public notice or shall be deemed to have been waived was duly given by publication in the Daily Record, Omaha, Douglas County, Nebraska, on October 25 and November 1, 2021. It was also duly given by mailing a copy of such notice to each and every party appearing to have a direct legal interest in the proceedings within five (5) days of the date of the first publication of notice to the post office address of such parties with sufficient postage affixed; 3) No persons have appeared at this meeting of the Board of Trustees, sitting as a Board of Adjustment and Equalization, to object to the engineer's complete statement of costs, or the engineer's statement of amounts proposed to be assessed against each separate piece of property in the District or to any prior proceedings on account of errors, irregularities, or inequalities; and 4) The Board does therefore find-and determine the costs of such improvements be levied and assessed as special assessments and as obligations of general benefit to the District on the following scheduled basis: GENERAL SPECIAL PROJECT OBLIGATION ASSESSMENT TOTAL Storm Sewer& Paving (Flanagan Pointe) $944,149.75 $745,694.97 $1,878,748.72 (Paid Privately) ($188,904.00) Interceptor Sewer (Flanagan Pointe) $33,413.67 $-0- $1,284,187.45 (Paid by City of Omaha) ($1,250,773.78) City of Omaha Review Fee (Flanagan Pointe) $47,827.82 $-0- $47,827.82 City of Omaha Park Fee (Flanagan Pointe) $20,550.40 $-0- $20,550.40 Douglas County Schools Fee (Flanagan Pointe) $72,781.66 $-0- $72,781.66 Water (Flanagan Pointe) $366,219.66 $52,851.55 $419,071.21 Power (Flanagan Pointe) _ $-0- $157,708.00 $157,708.00 As the first order of business for the Board of Trustees, upon a motion duly made and seconded, and upon a roll call vote, the following Trustees, Marc Stodola, Kirk Alloway, Michael E. Freestone, Jamie Wedel and Justyn Kearney voted "Aye" with none voting "Nay"with the following Resolution being thereby duly adopted: RESOLVED, that the Board of Trustees of Sanitary and Improvement District No. 606 of Douglas County, Nebraska, find and confirm as follows: 1) The Board of Trustees has previously adopted Resolutions of Advisability and Necessity for the construction of (1) Storm Sewer & Paving(Flanagan Pointe);(2) Interceptor Sewer(Flanagan Pointe);(3) City of Omaha Review Fee (Flanagan Pointe); (4) City of Omaha Park Fee (Flanagan Pointe); (5) Douglas County Schools Fee (Flanagan Pointe);(6) Water(Flanagan Pointe);and(7) Power(Flanagan Pointe); and all work incidental and necessary thereto. 2) Pursuant thereto, the construction of such projects and all work incidental and necessary thereto has been completed and certificates of acceptance from the District's engineers have been filed with the District and approved by its Board of Trustees. 3) The schedule of the total cost of such improvements and a plat of the property in the District where such improvements have been made including a schedule of the amount proposed to be specially assessed against each separate piece of property in the District has been filed by the engineers of the District with the Clerk of the District. Notice was properly given by publication, the posting of hand bills and mailing of notices, all as required by law which stated that such statement of costs, plat and schedule are on file at the Office of the Clerk, and that all objections thereto or to prior proceedings on account of errors, irregularities or inequalities must be made in writing and filed with the Clerk of the District within twenty (20) days after the first publication of notice, or would be waived, and that the Board of Trustees would consider as provided by law any filed objections to such statement of costs, plat and schedule or to prior proceedings on account of errors, irregularities or inequalities, at a meeting to be held at 3305 North 191st Avenue, Elkhorn, Nebraska, on the 151h day of November, 2021, at 8:30 a.m. 4) The Board of Trustees, sitting as a Board of Adjustment and Equalization, pursuant to such notice, has examined such statement, plat and schedule and has approved the same and that no person has objected to the same in writing or in person. That the Board does find and determine that costs for the improvements with respect to the spreading of the special and general benefit of such improvements to the lots and parcels of ground within the District shall be as set out within the engineer's schedule of assessment and the amounts therein shown on such schedule, a copy of which is attached hereto and by this reference incorporated herein. The amount of such benefits does not exceed the cost of the improvements and the amounts set out for each lot or parcel of ground on such schedule is an equitable apportionment of the cost of the improvements between the various lots and parcels of ground in proportion to the special benefits received by such lot or parcel of ground. 5) Each of the lots and parcels of ground shall be assessed in the amount shown opposite the description of such lot or parcel in the Schedule of Proposed Assessments filed with the Clerk of the District by the District's engineers as attached hereto. 6) The special assessments shall become due within fifty (50) days after November 15, 2021, or on the following date to-wit: January 4, 2022, and if not paid within that period, shall become delinquent in ten (10) annual installments. The first installment shall be due and delinquent the 15th day of November, 2022, and subsequent installments shall be due and delinquent on the same day and month of each year thereafter. The special assessments shall draw interest on a per annum basis until delinquent at the greater of(i) the rate of interest accruing on construction fund warrants registered against the District sixty (60) days prior to the actual levy of special assessments; or (ii) the average rate of interest accruing on the construction fund warrants issued to pay for the improvements for which the special assessments are to be levied adjusted to the next greater one-half percent. Delinquent installments shall bear interest at the rate of two percent (2%) per annum above the rate set by the District on such installment before delinquency. All special assessments may be paid within fifty (50) days after the date of levy without interest charge. 7) The special assessments for improvements hereinabove referred to are hereby assessed, equalized and apportioned between the several lots and parcels of ground set forth in the Schedule of Special Assessments in the form attached hereto and by this reference made a part thereof. FURTHER RESOLVED, that the Clerk of the District is hereby authorized and directed to certify to the County Clerk of Douglas County, Nebraska, this levy of special assessments upon the lots or parcels of land identified on the schedules attached hereto and the amount shown opposite each lot number or legal description on such schedule, in order that such special assessments may be collected in the manner provided by law. There were next presented various statements and invoices for payment by the District. There was next presented an invoice from Charleston Homes, LLC, in connection with ADA pad installation, as follows: Invoice#1175 in the amount of Seven Hundred Fifty and no/100 Dollars($750.00). There was next presented correspondence from Thompson, Dreessen & Dorner, Inc., engineers for the District, recommending payment in favor of Commercial Seeding Contractors, relating to erosion control maintenance, as follows: Invoice #25964 in the amount of One Thousand One Hundred Forty-Six and 74/100 Dollars ($1,146.74). There were next presented invoices from Green Inc. for general district maintenance, as follows: Invoice#21-2626 in the amount of Three Hundred Fifty and no/100 Dollars($350.00). The Clerk next directed the attention of the Board of Trustees to the fact that D.A. Davidson & Co. will place Two Thousand Two Hundred Forty-Six and 74/100 Dollars ($2,246.74) in warrants at this time and that the contracted charge for such placement of warrants is four percent (4%) or Eighty-Nine and 87/100 Dollars ($89.87) 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. 606 of Douglas County, Nebraska, that the Chairman and Clerk be and they hereby authorized and directed to execute and deliver Warrant Nos. 318 through 321 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 six percent(6%) per annum and to be redeemed no later than November 15, 2024, 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. 318, for the amount of Seven Hundred Fifty and no/100 Dollars($750.00), payable to Charleston Homes, LLC. Warrant No. 319, for the amount of One Thousand One Hundred Forty-Six and 74/100 Dollars ($1,146.74), payable to Commercial Seeding Contractors. Warrant No. 320, for the amount of Three Hundred Fifty and no/100 Dollars($350.00), payable to Green Inc. Warrant No. 321, for the amount of Eighty-Nine and 87/100 Dollars($89.87), payable to D.A. Davidson & Co. FURTHER RESOLVED by the Board of Trustees of Sanitary and Improvement District No. 606 of Douglas County, Nebraska, that both they and the District hereby find and determine and covenant, and warrant and agree that (a) the facilities for which the above Warrants are issued are for essential governmental functions and are designed to serve members of the general public on an equal basis; (b) there are no persons with rights to use said facilities other than as members of the general public; (c) ownership and operation of said facilities is within the District or another political subdivision; (d) none of the proceeds of the Warrants will be loaned to any person and to the extent that special assessments have been or are to be levied for any said facilities, 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 such facilities in the District; (e) the development of the land in the District is for residential or commercial use; (f) the development of the land in the District for sale and occupation by the general public is proceeding with reasonable speed; and (g) the District hereby authorizes and directs the Chairman or Clerk to file, when due, an information reporting form pursuant to Section 149(e) of the Internal Revenue Code of 1986 pertaining to the above Warrants. FURTHER RESOLVED by the Board of Trustees of Sanitary and Improvement District No. 606 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 $5,000,000 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. 606 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. There was next presented a receipt from the Douglas County Treasurer's office representing deposit to the District's Bond Fund of a refund of excess construction deposit from Metropolitan Utilities District in the amount of Eighty-Nine Thousand Three Hundred Fourteen and 62/100 Dollars($89,314.62). [THE BALANCE OF THIS PAGE LEFT INTENTIONALLY BLANK - SIGNATURES APPEAR ON THE FOLLOWING PAGE] 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. Kirk Alloway, as Clerk for Sanitary and Improvement District No. 606 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 November 15, 2021, meeting. 7<=4/Kirk Alloway, Cler •