2008-07-29 SID 523 Minutes 08 AUG a 3
C IT rz,1C. MINUTES OF MEETING `=' PY
OF
SANITARY AND IMPROVEMENT DISTRICT NO. 523
OF DOUGLAS COUNTY, NEBRASKA
A meeting of the Board of Trustees of Sanitary and Improvement District No. 523 of Douglas
County, Nebraska, was convened in open and public session at 10:00 a.m. on the 29th day of July, 2008, at
17809 Pacific Street, Omaha, Nebraska.
Present were: Herbert L. Freeman, Marcy Knobbe, Robert P. Horgan, Donna M. Nissen and
Michael L. Riedmann.
Absent: None.
Notice of the meeting was given in advance thereof by publication in The Daily Record on July 15
and 22, 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.
The Clerk first certified that notice of this meeting concerning the project entitled Storm Sewer,
Section III (Five Fountains) had been posted in three (3) conspicuous places within the District with the
Clerk causing to be filed a Certificate to that effect with a copy of the notice attached thereto, such notice
being attached to the minutes of these proceedings and by this reference made a part hereof.
The Clerk next stated that no petition opposing the proposed Resolution of Advisability and
Necessity had been filed by the property owners within the District or by any other person or entity and that
no person appeared at the meeting or made any objections to the proposed Resolution of Advisability and
Necessity with such being the same resolution adopted in form at the meeting of the Board of Trustees held
on July 11, 2008, which resolution is set forth in its entirety in the proof of publication attached hereto and by
this reference incorporated herein. After discussion of the Board, the following resolution was duly moved
and seconded and upon a roll call vote the Trustees, Herbert L. Freeman, Marcy Knobbe, Robert P.
Horgan, Donna M. Nissen and Michael L. Riedmann voted "Aye" with none voting "Nay" thereby passing
and adopting the following resolution:
RESOLVED, by the Board of Trustees of Sanitary and Improvement
District No. 523 of Douglas County, Nebraska, that the Resolution of
Necessity and Advisability for the construction of the project entitled Storm
Sewer, Section III (Five Fountains)be ratified and approved as proposed.
•
FURTHER RESOLVED, that the Chairman and Clerk be, and hereby are,
authorized and directed to take such steps as are necessary to implement
this resolution, including the execution of such agreement for and on
behalf of the District.
The Chairman next presented the proof of publication of the Notice to Contractors for the
construction of the improvements entitled Sidewalk Ramps, Section I (Five Fountains).
The Clerk then presented the list of bids and bidders for such work specified within the Notice to
Contractors with such bids having been taken on July 22, 2008, in accordance with the provisions of such
Notice to Contractors. The bids having been individually reviewed by Lamp, Rynearson & Associates, Inc.,
the District's engineers, and upon completion of such review, the engineers have submitted their Letter of
Recommendation which the Clerk was directed to attach along with a copy of the bid tabulations to these
minutes.
After the Trustees had received the Letter of Recommendation directed to the District, the Clerk
reported that the recommendation of the engineers was the bid of Dostals Construction Co., Inc. for
Sidewalk Ramps, Section I (Five Fountains) in the amount of Twenty-Three Thousand Forty and no/100
Dollars ($23,040.00) and that such amount be accepted. The Clerk reminded the Board that the Engineer's
estimate of the construction cost of this project was Seventeen Thousand Three Hundred Fifty-Two and
50/100 Dollars ($17,352.50). The District's engineers then indicated that it was their opinion that the
rebidding of such project would yield no more beneficial pricing to the District than that presented by the
previously specified bid and again recommended acceptance of such bid. The Clerk further reported that
the bid of Dostals Construction Co., Inc. was accompanied by the required bid bond, contract and
maintenance bond in the amount of 100% of the contract price.
After considerable discussion by the Board, the following resolution was duly moved and seconded
upon a roll call vote of the Trustees, Herbert L. Freeman, Marcy Knobbe, Robert P. Horgan, Donna M.
Nissen and Michael L. Riedmann voted "Aye" with none voting "Nay" thereby adopting the following
resolution:
RESOLVED, by the Board of Trustees of Sanitary and Improvement
District No. 523 of Douglas County, Nebraska, that the bid of Dostals
Construction Co., Inc. in the total amount of $23,040.00 for the
construction of Sidewalk Ramps, Section I (Five Fountains) be accepted
and approved and that the Clerk and Chairman of the District be and they
hereby are authorized and directed to execute the contract of Dostals
Construction Co., Inc.for and on behalf of the District.
There were next presented miscellaneous bills, invoices, statements, and recommendations for the
Board's consideration.
There was next presented correspondence from Lamp, Rynearson & Associates, Inc., engineers for
the District, presenting and recommending payment in favor of Utilities Service Group for sewer televising in
connection with sanitary sewer maintenance, Invoice No. 7432 in the amount of One Thousand Five
Hundred Seventy-Five and 45/100 Dollars ($1,575.45).
There was next presented correspondence from Lamp, Rynearson &Associates, Inc., engineers for
the District, presenting and recommending payment in favor of Cedar Construction Company for services in
connection with storm sewer maintenance, Invoice No. 2537 in the amount of Four Thousand Four Hundred
Sixty-Seven and 89/100 Dollars ($4,467.89).
There was next presented correspondence from Lamp, Rynearson &Associates, Inc., engineers for
the District, presenting and recommending payment in favor of Commercial Seeding Contractors for
services in connection with erosion control maintenance, Invoice No. 6386 in the amount of Seven
Thousand Nine Hundred Seventy-Five and 80/100 Dollars ($7,975.80).
There was next presented a statement from Greco Enterprises Inc. for updating the chairman
renewal bond, Invoice No.49564 in the amount of Twenty and no/100 Dollars ($20.00).
The Clerk next directed the attention of the Board of Trustees to the fact that D.A. Davidson & Co.
will purchase Fourteen Thousand Thirty-Nine and 14/100 Dollars ($14,039.14) in warrants at this time and
that the contracted charge for such purchase of warrants is five percent (5%) or Seven Hundred One and
95/100 Dollars ($701.95) 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. 523 of Douglas County, Nebraska, that the Chairman and
Clerk be and they hereby authorized and directed to execute and deliver
Warrant Nos. 1446 through 1451 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 July 29, 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. 1446,for the amount of One Thousand Five Hundred
Seventy-Five and 45/100 Dollars ($1,575.45), payable to Utilities Service
Group.
Warrant No. 1447, for the amount of Four Thousand Four
Hundred Sixty-Seven and 89/100 Dollars ($4,467.89), payable to Cedar
Construction Company.
Warrant No. 1448, for the amount of Five Thousand and no/100
Dollars ($5,000.00), and Warrant No. 1449, for the amount of Two
Thousand Nine Hundred Seventy-Five and 80/100 Dollars ($2,975.80),
payable to Commercial Seeding Contractors.
Warrant No. 1450, for the amount of Twenty and no/100 Dollars
($20.00), payable to Greco Enterprises Inc.
Warrant No. 1451, for the amount of Seven Hundred One and
95/100 Dollars($701.95), payable to D.A. Davidson & Co.
FURTHER RESOLVED by the Board of Trustees of Sanitary and
Improvement District No. 523 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. 523 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. 523 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 bee
n 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.
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.
Marcy Knobbe, as Clerk for Sanitary and Improvement District No. 523 of Douglas County,
Nebraska (the "District") does hereby certify that the above proceedings are a true and accurate statement 1
of the proceedings had by the District at its July 29, 2008, meeting.
MARCY KNO BE, Cler `,