2008-02-13 SID 494 Minutes •
MINUTES OF MEETING OF SANITARY ANDS L/i,
IMPROVEMENT DISTRICT NO. 494 OF 08 F
DOUGLAS COUNTY, NEBRASKA U 28 ,ll 8: 5..
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A meeting of the Board of Trustees of Sanitary and Improvement Distr c�t9 k'd„'49 - 1111
of Douglas County, Nebraska, was convened in open and public session at 3:00 p.m R4-ci
February 13, 2008, at 2120 South 72"d Street, Suite 1200, Omaha, Nebraska. Present
were: Trustees Dan J. McCarty, John A. Rice, Dennis Kimberlin, and Gary L. Shipley.
Absent: Trustee Steven G. Reeder. Also present were Engineer Doug Dreessen and
Attorney Robert J. Huck.
Notice of the meeting was given in advance thereof by publication in The Daily
Record, Omaha, Nebraska, on February 6, 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 January 9, 2008. A motion was made and
seconded that the minutes for the meeting of the Board held on January 9, 2008, be
approved and accepted. On roll call on said resolution, the following Trustees voted aye:
Dan J. McCarty, John A. Rice, Dennis Kimberlin, and Gary L. Shipley; 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, Engineer's
Report. The following transpired:
a) Engineer Dreessen reported that some Lake Street crossings need
maintenance and that Dan Kutilek of the Douglas County Engineer's office has verified that
the County will continue to maintain the streets as they have done in the past.
b) The Board reviewed correspondence from the engineer regarding application
for renewal of an NDEQ permit. It was the consensus of the Board that the engineer's
office should proceed with preparation of the renewal application on behalf of the District.
Minutes of Meeting of Board of Trustees February 13,2008
SID No. 494 of Douglas County, Nebraska Page 2
c) Mr. Dreessen reported that he has filed a revised form with NHHS regarding
SRF funding in connection with the water project. Revisions are underway regarding the
SRF loan for the sewer project.
In connection with Agenda Item No. 5, contract for the acquisition of Lot 18, Block
21, it was reported that an agreement has been reached between the District and the
owner of the property.
The Chairman directed the Board's attention to Agenda Item No. 6, 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 Acting Clerk be and they hereby are
authorized and directed to execute and deliver Warrants
Nos. 843 through 848 of the District, dated the date of this
meeting, to the following payees and in the following amounts,
said Warrants Nos. 843 through 848 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 February 13, 2011)
1. Warrant No. 843 in the sum of $3,315.00 payable to
Lutz& Company, PC in payment of Invoice Nos. 89938
and 88556 for professional services.
2. Warrant No. 844 in the sum of $94.95 payable to
Commercial Seeding Contractors in payment of Invoice
No. 5583 for erosion control maintenance (silt fence
repair).
3. Warrant No. 845 in the sum of $1,424.99 payable to
Thompson, Dreessen & Dorner Inc. in payment of
Invoice No. 82704 for miscellaneous professional
services.
Minutes of Meeting of Board of Trustees February 13, 2008
SID No. 494 of Douglas County, Nebraska Page 3
4. Warrant No. 846 in the sum of$5,000.00 and Warrant
No. 847 in the sum of $1,193.20 (total $6,193.20)
payable to Croker Huck Kasher DeWitt Anderson &
Gonderinger LLC in payment of statement dated
2/13/08, Account No. 473-0.
5. Warrant No. 848 in the sum of$551.40 payable to D.A.
Davidson & Co. in payment of 5% placement fee for
Warrants Nos. 843 through 847.
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
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.
•
Minutes of Meeting of Board of Trustees February 13, 2008
SID No. 494 of Douglas County, Nebraska Page 4
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:
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.
Minutes of Meeting of Board of Trustees February 13, 2008
SID No. 494 of Douglas County, Nebraska Page 5
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: 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 resolutions to be duly carried
and adopted.
Under Miscellaneous Matters, the Board agreed to schedule its next meeting as
needed.
Trustee Dennis Kimberlin then made a presentation to the Board regarding some
problem areas in the District. No formal action was taken.
There being no further business, a motion for adjournment was duly moved,
seconded and unanimously carried.
Dan Y McCarty, Chairmen & Trustee
A- Cae----z-
Joh A. Rice, Clerk & Trustee
00330627.WPD