Loading...
2008-12-09 SID 494 Minutes • RECEIVED 09 am 20 AP 8: 49 MINUTES OF MEETING OF SANITARY AND C i T y CL c R K IMPROVEMENT DISTRICT NO. 494,OF nMAHA, NEQR4SK4 DOUGLAS COUNTY, NEBRASKA A meeting of the Board of Trustees of Sanitary and Improvement District No. 494 of Douglas County, Nebraska, was convened in open and public session at 3:00 p.m. on December 9, 2008, at 2120 South 72nd Street, Suite 1200, Omaha, Nebraska. Present were: Trustees Dan J. McCarty, John A. Rice, Gary L. Shipley, Dennis Kimberlin and Gerald M. Mines. Absent: None. Also present were Engineer Doug Dreessen, Gene Ward and Siegfried Ricks, residents of the District and representatives of the homeowners association, and Attorney Robert J. Huck. Notice of th e e meeting was given in advance thereof by publication in The Daily Record, Omaha, Nebraska, on December 2, 2008, a copy of the Proof of Publication being attached to these minutes. Notice of this meeting was sent to the Omaha City Clerk, 1819 Farnam Street, Omaha, Nebraska, not less than seven (7) days prior to the date of this meeting. 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 undersigned Clerk hereby certifies that these minutes were written and available for public inspection within ten (10) working days after the date of said meeting. After calling the meeting to order and completion of roll call, 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. The Chairman directed the Board's attention to Agenda Item No. 3, approval of the minutes of the meeting of the Board held on October 8, 2008. A motion was made and seconded that, with the exception of a minor change to page 2, the minutes for the meeting of the Board held on October 8, 2008, be approved and accepted. On roll call on said resolution, the following Trustees voted aye: Gerald M. Mines, Dan J. McCarty, John A. Rice, Gary L. Shipley and Dennis Kimberlin; voting nay thereon were the following Trustees: None. The Chairman then declared said resolution to be duly carried and adopted. The Chairman directed the Board's attention to Agenda Item No. 4, Public Input. a) Gene Ward reported that a letter was sent to homeowners from the Homeowners Association officers asking any homeowners who had questions or comments on SID or neighborhood matters to get in touch with them. No replies were received. Minutes of Meeting of Board of Trustees December 9, 2008 SID No. 494 of Douglas County, Nebraska Page 2 b) Trustee Mines reported that he had received an inquiry as to whether minutes of SID Board meetings could be made available to the public faster. Minutes are available within 10 days; however, it has been the District's policy not to distribute them to the homeowners association until the SID Board has had a chance to formally approve them at the next meeting. In the meantime, minutes are filed with the City Clerk as soon as all the necessary papers are signed and returned to the attorney's office. A suggestion was made that Board members relate any requested changes in meeting minutes to the Chairman before the following formal meeting of the Board. There were also some questions regarding some signs in the SID, as well as the need to mow some weeds in the right-of-way, as well as the storm water flow from the Champions golf course. Engineer Dreessen was requested to review the topographical maps as they relate to golf course water runoff. The Chairman directed the Board's attention to Agenda Item No. 5 for the Engineer's Report. The following matters were discussed: a) Engineer Dreessen reported that the County has done some roadwork in the District and also that some additional silt fence can now be removed. b) With regard to Lots 15 and 16 in Block 2, he reported that MUD would have charged a lump sum of$6,410.20 to connect those lots to the 135th Street water main. The SID assessment for connection to its water main was $3,960.90, payable over ten years. c) It was noted that the SID is not Thompson, Dreessen & Dorner fo r p e or inspections of private silt fences, which are the responsibility of the lot owner(s). The Chairman directed the Board's attention to Agenda Item No. 6 regarding the status of special assessments which were levied on June 25, 2007. The Board reviewed an analysis prepared by the District's fiscal agent which discloses that approximately 60% of the special assessments are either paid in full or have had some payments made; the rest are delinquent on the first payment. Discussion ensued. The Chairman directed the Board's attention to Agenda Item No. 7, Payment of Bills of the District, and presented for the Board's consideration the following bills, statements and invoices. After thorough review of same and discussion thereon, the following resolutions were duly moved and seconded, to-wit: RESOLVED, by the Board of Trustees of Sanitary and Improvement District No. 494 of Douglas County, Nebraska, that the Chairman and Clerk be and they hereby are authorized and directed to execute and deliver Warrants Nos. 890 through 893 of the District, dated the date of this Minutes of Meeting of Board of Trustees December 9, 2008 SID No. 494 of Douglas County, Nebraska Page 3 meeting, to the following payees and in the following amounts, said Warrants Nos. 890 through 893 to be drawn on the General Fund account of the District and to bear interest at the rate of seven percent (7%) per annum, (interest to be payable on February 10th of each year, as to the Construction Fund Warrants only), and to be redeemed no later than the dates noted below, subject to extension of said maturity date (for Construction Fund Warrants only), by order of the District Court of Douglas County, Nebraska, after notice is given as required by law, to-wit: GENERAL FUND (Due December 9, 2011) 1. Warrant No. 890 in the sum of $340.00 payable to Greco Enterprises Inc. In payment of Invoice No. 51582 for Clerk's bond 1/28/09 - 1/28/11 and Invoice No. 51621 for Chairman's bond 10/8/08 - 10/8/10. 2. Warrant No. 891 in the sum of $1,327.09 payable to Thompson Dreessen & Dorner Inc. in payment of Invoice Nos. 84472 and 84824 for professional services. 3. Warrant No. 892 in the sum of $5,915.12 payable to Croker Huck Kasher DeWitt Anderson & Gonderinger LLC in payment of statements dated 12/9/08, Accounts 473-000, 473-005 and 473-006. 4. Warrant No. 893 in the sum of$379.11 payable to D.A. Davidson & Co. in payment of 5% placement fee for Warrant Nos. 890 through 892. BE IT FURTHER RESOLVED by the Board of Trustees of Sanitary and Improvement District No.494 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 Minutes of Meeting of Board of Trustees December 9, 2008 SID No. 494 of Douglas County, Nebraska Page 4 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. BE IT FURTHER RESOLVED by the Board of Trustees of Sanitary and Improvement District No. 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)(ii) 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. BE IT FURTHER RESOLVED by the Board of Trustees of Sanitary and Improvement District No. 494 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: c Minutes of Meeting of Board of Trustees December 9, 2008 SID No. 494 of Douglas County, Nebraska Page 5 I. 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) 10% of the net principal proceeds of the above Warrants, (b) the maximum annual debt service due on the above Warrants, or (c) 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 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 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 1.1482(b)(2) of the Income Tax Regulations under the Internal Revenue Code of 1986, as amended. On roll call on the foregoing resolutions, the following Trustees voted aye: Gerald M. Mines, Dennis Kimberlin, John A. Rice, Dan J. McCarty and Gary L. Shipley; voting nay thereon were the following Trustees: None. The Chairman then declared said resolutions to be duly carried and adopted. Under Agenda Item No. 8, Miscellaneous Matters, the following transpired: a) The Board scheduled its next meeting for 3:00 p.m. on February 11, 2009, at 2120 South 72nd Street, Suite 1200, Omaha, Nebraska. b) The Clerk reported that Oaths of Office for all Board members, as well as the Bond of the Clerk, have been filed with the County Clerk, as evidenced by the receipts attached to these minutes. I n Minutes of Meeting of Board of Trustees December 9, 2008 SID No. 494 of Douglas County, Nebraska Page 6 c) The Chairman made a presentation regarding the need for general clean up in the neighborhood, particularly in certain areas. It was agreed that Attorney Huck should set up a meeting with city council and the City Code Enforcement Officer on this subject. There being no further business, a motion for adjournment was duly moved, seconded and unanimously carried. Dennis Kimberlin, Chairman & Trustee John A. Rice, Clerk & Trustee 00359129.WPD