2008-04-24 SID 501 Minutes RECEIVE [)
MINUTES OF MEETING
OF
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iATIfARY AND IMPROVEMENT DISTRICT NO. 501
rOF 1:566G1.AS COUNTY, NEBRASKA
A meeting of the Board of Trustees of Sanitary and Improvement bistrict No. 501 of Douglas
County, Nebraska, was convened in open and public session at 11:00 a.m. on the 24th day of April, 2008, at
10250 Regency Circle, Suite 300, Omaha, Nebraska.
Present were: John C. Allen, Joyce A. Sramek, Jeanne D. Knox, Joseph J. Valenti and Gerald L.
Torczon.
Absent: None.
Notice of the meeting was given in advance thereof by publication in The Daily Record on April 21,
2008, 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. Upon roll call, all of the
Trustees were present.
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 E & A Consulting Group, Inc., engineers for the
District, presenting and recommending payment in favor of Hayes Environmental L.L.C. for annual
monitoring, Invoice No. 28-8408-1 in the amount of Three Thousand One Hundred Fifty and no/100 Dollars
($3,150.00).
There were next presented statements from Mulhall's for landscaping services as follows: (i) Invoice
No. SID0625-IN in the amount of One Hundred Ninety and no/100 Dollars ($190.00); (ii) Invoice No.
SID0637-IN in the amount of Three Thousand Forty-Two and 70/100 Dollars ($3,042.70); (iii) Invoice No.
SID0638-IN in the amount of Two Thousand Nine Hundred Ninety-One and 22/100 Dollars ($2,991.22); (iv)
Invoice No. SID0639-IN in the amount of Two Thousand Seven Hundred Ninety-Eight and 68/100 Dollars
($2,798.68); and (v) Invoice No. SID0640-IN in the amount of One Thousand Four Hundred Seventy-Nine
and no/100 Dollars ($1,479.00); said invoices being in the aggregate amount of Ten Thousand Five Hundred
One and 60/100 Dollars ($10,501.60).
There were next presented statements from Todco Barricade Company as follows: (i) Invoice No.
103555 in the amount of One Hundred Fourteen and 47/100 Dollars ($114.47); (ii) Invoice No. 103664 in the
amount of One Hundred Fourteen and 47/100 Dollars ($114.47); (iii) Invoice No. 103761 in the amount of
One Hundred Seven and 08/100 Dollars ($107.08); and (iv) Invoice No. 103887 in the amount of One
Hundred Fourteen and 47/100 Dollars ($114.47); said invoices being in the aggregate amount of Four
Hundred Fifty and 49/100 Dollars ($450.49).
There was next presented a statement from Utilities Service Group for sewer cleaning, Invoice No.
7219 in the amount of Two Thousand Four Hundred Sixteen and 32/100 Dollars ($2,416.32).
There was next presented correspondence from CBS Home Real Estate for Castle Creek
Development, LLC, developer of the District requesting reimbursement for invoices paid as follows: (i) to
McKay Landscape Lighting, statement dated March 14, 2008 in the amount of Two Hundred Twenty-Eight
and no/100 Dollars ($228.00); (ii) Turfbuilders Irrigation, Inc., Invoice No. 08-15759 in the amount of One
Hundred Forty-Six and no/100 Dollars ($146.00); (iii) Turfbuilders Irrigation, Inc., Invoice No. 08-15760 in the
amount of Three Hundred Seventy-Four and 50/100 Dollars ($374.50); and (iv) Landscape Elements in the
amount of Sixty and no/100 Dollars ($60.00); said invoices being in the aggregate amount of Eight Hundred
Eight and 50/100 Dollars ($808.50).
There were next presented statements from Lutz & Company, PC, accountants for the District as
follows: (i) final billing related to the completion of the audited financial statements for the year ended
June 30, 2007, Invoice No. 88558 in the amount of Two Thousand Nine Hundred and no/100 Dollars
($2,900.00); and (ii) completion of IRS Forms 1099, 944 and W-2s and assistance provided in relation to
IRS notice questioning compensation to clerk and board members, Invoice No. 89974 in the amount of Six
Hundred Sixty-Five and no/100 Dollars ($665.00); said statements being in the aggregate amount of Three
Thousand Five Hundred Sixty-Five and no/100 Dollars ($3,565.00).
There was next presented a statement from Greco Enterprises Inc. for general liability insurance
renewal, Invoice No.46872 in the amount of Four Hundred Sixty-Five and no/100 Dollars ($465.00).
There were next presented statements from E &A Consulting Group, Inc., engineers for the District
for miscellaneous engineering services rendered as follows: (i) through December 23, 2007, Invoice No.
105236 in the amount of One Thousand Twenty-Five and 41/100 Dollars ($1,025.41); (ii)through January 20,
2008, Invoice No. 105453 in the amount of Seven Hundred Six and 24/100 Dollars ($706.24); (iii) through
March 2, 2008, Invoice No. 105686 in the amount of Six Hundred Thirty-Five and 56/100 Dollars ($635.56);
and (iv)through March 30, 2008, Invoice No. 105953 in the amount of Four Hundred Forty-Seven and 94/100
Dollars ($447.94); said invoices being in the aggregate amount of Two Thousand Eight Hundred Fifteen and
15/100 Dollars ($2,815.15).
There were next presented statements from Omaha Public Power District, for services related to
Account No. 6369592096 through April 29, 2008 in the aggregate amount of Nine Thousand One Hundred
Fifty-Five and 63/100 Dollars($9,155.63).
There were next presented statements from Omaha Public Power District, for services related to
Account No. 5120062954 through April 3, 2008 in the aggregate amount of Eight Hundred Thirty-Five and
50/100 Dollars ($835.50).
There were next presented statements from Metropolitan Utilities District for service at the 15505
Hartman Avenue location through April 7, 2008 showing a credit balance of One Thousand Two Hundred
Ninety-Three and 97/100 Dollars($1,293.97).
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. 501 of Douglas County, Nebraska, that the Chairman and Clerk be and
they hereby authorized and directed to execute and deliver Warrant Nos.
1532 through 1544 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 April 24, 2011,
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. 1532, for the amount of Three Thousand One
Hundred Fifty and no/100 Dollars ($3,150.00), payable to Hayes
Environmental L.L.C.
Warrant Nos. 1533 and 1534, each for the amount of Five
Thousand and no/100 Dollars ($5,000.00), and Warrant No. 1535, for the
amount of Five Hundred One and 60/100 Dollars ($501.60), payable to
Mulhall's.
Warrant No. 1536, for the amount of Four Hundred Fifty and
49/100 Dollars ($450.49), payable to Todco Barricade Company.
Warrant No. 1537, for the amount of Two Thousand Four Hundred
Sixteen and 32/100 Dollars($2,416.32), payable to Utilities Service Group.
Warrant No. 1538, for the amount of Eight Hundred Eight and
50/100 Dollars ($808.50), payable to Castle Creek Development, LLC.
Warrant No. 1539, for the amount of Three Thousand Five
Hundred Sixty-Five and no/100 Dollars ($3,565.00), payable to Lutz &
Company, PC.
Warrant No. 1540, for the amount of Four Hundred Sixty-Five and
no/100 Dollars($465.00), payable to Greco Enterprises Inc.
Warrant No. 1541, for the amount of Two Thousand Eight Hundred
Fifteen and 15/100 Dollars ($2,815.15), payable to E&A Consulting Group,
Inc.
Warrant No. 1542, for the amount of Five Thousand and no/100
Dollars ($5,000.00), and Warrant No. 1543, for the amount of Four
Thousand One Hundred Fifty-Five and 63/100 Dollars ($4,155.63), payable
to Omaha Public Power District,Acct. No.6369592096.
Warrant No. 1544, for the amount of Eight Hundred Thirty-Five and
50/100 Dollars ($835.50), payable to Omaha Public Power District, Acct.
No. 5120062954.
FURTHER RESOLVED by the Board of Trustees of Sanitary and
Improvement District No. 501 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. 501 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. 501 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
c
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 were next presented receipts from the Douglas County Treasurer's office representing
deposits to the District's Bond Fund of various sewer connection fees from August 23, 2006 through
September 6, 2007, in the aggregate amount of Thirty-Three Thousand One Hundred Forty-Five and no/100
Dollars ($33,145.00).
The Board was next informed that General Fund Warrant No. 1524 is to be cancelled due to the fact
that it represented a double payment of invoices to Todco Barricade Company. Upon discussion of this
matter, the following resolution was duly made and seconded, whereupon a roll call vote was taken during
which the Trustees, John C. Allen, Joyce A. Sramek, Jeanne D. Knox, Joseph J. Valenti and Gerald L.
Torczon voted "Aye,"with none voting"Nay,"thereby approving the following resolution:
RESOLVED, by the Board of Trustees of Sanitary and Improvement District
No. 501 of Douglas County, Nebraska, that General Fund Warrant
No. 1524, payable to Todco Barricade Company, be and hereby is
canceled.
FURTHER RESOLVED, that the Clerk of the District be and hereby is
authorized to notify the Douglas County Treasurer of such cancellation so
that such warrant may be reflected on his records as well as noting such
cancellation on the records of the District.
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.
Joyce A. Sramek, as Clerk for Sanitary and Improvement District No. 501 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 April 24, 2008, meeting.
JOY r rA EK, Clerk ``��