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2009-08-04 SID 258 Minutes t RECEIVED Co LE)) 09 flUG 21 9: I3 MINUTES OF MEETING OF SANITARY AND CITY CL.=E.r,K IMPROVEMENT DISTRICT NO. 258 OF OMANA, ! cBi A` 'c '' SARPYCOUNTY, NEBRASKA A meeting of the Board of Trustees of Sanitary and Improvement District No. 258 of Sarpy County, Nebraska, was convened in open and public session at 10:00 a.m. on August 4, 2009 at 11550"I"Street, Suite 200, Omaha, Nebraska. Present were: Trustees Paul S. McCune, Michelle Zimmerman, Stacey Holt, Merlyn Masters and Susan McCune; Absent: None. Also present was Attorney Robert J. Huck. Notice of the meeting was given in advance thereof by publication in The Papillion Times, Papillion, Nebraska, on July 30, 2009, a copy of the Proof of Publication being attached to these minutes. Notice of this meeting was sent to the Gretna City Clerk, 204 North McKenna Avenue, Gretna, 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 then directed the Board's attention to Agenda Item No. 3, 2009-2010 Budget and Tax Levy, and presented the proposed budget statement for the District,which had previously been prepared with the assistance of the District's auditors, all in accordance with the Nebraska statutes. The Board reviewed the proposed dollar requirement and the proposed budget documents. The Chairman also noted that the Board has until October 13 to vote to establish a tax request different from the prior year, provided that a majority of the Board votes for such approval at a special public hearing, notice of which must be published at least five days prior to the hearing. After full discussion, the following resolutions were duly moved and seconded, to- wit: F r Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 2 RESOLVED, that the Board of Trustees of Sanitary and Improvement District No. 258 of Sarpy County, Nebraska,does herewith propose the budget heretofore filed with the Clerk of the District;that a hearing on such proposed budget be held on September 8, 2009, at 10:00 a.m. at 11550 I Street, Suite 200, Omaha, Nebraska; that public notice of the place and time of such hearing, together with the summary of the proposed budget statement, be published in The Papillion Times of Papillion, Nebraska, on or before September 3, 2009. Further resolved, that a special public hearing be held on September 8, 2009, at 10:15 a.m. at 11550 I Street, Suite 200, Omaha, Nebraska, for the purpose of establishinga tax P P request which is different from that of the prior year; that public notice of the place and time of such hearing be published in The Papillion Times of Papillion, Nebraska, on or before September 3, 2009. On roll call on the foregoing resolutions, the following Trustees voted aye: Paul S. McCune, Michelle Zimmerman, Stacey Holt, Merlyn Masters and Susan McCune; voting nay thereon were the following Trustees: None. The Chairman then declared said resolution to be duly carried and adopted. The Chairman then directed the Board's attention to Agenda Item No. 4, Correction of Annual Interest Payment to RBC Capital Markets Corp., and informed the Board that after the Board meeting held on June 18, 2009, Kuehl Capital Corporation discovered that the information provided to the District for payment of the annual interest to RBC Capital Markets Corp. was incorrect. Although the total amount paid was correct, the warrants were issued in amounts according to security numbers, rather than the amounts of individual investor accounts held at RBC Capital Markets Corp. Therefore, Kuehl Capital Corp. has requested that the Board cancel Construction Fund Warrant Nos. 899 through 937, inclusive, and issue new Construction Fund Warrant Nos. 938 through 1070, inclusive, payable to RBC CAPITAL MARKETS CORP. dated June 18, 2009, in the amounts listed on the attachment to their correspondence(totaling $278,569.43 to replace the canceled warrants). A copy of said correspondence is attached to these minutes for reference. After full and complete discussion the following resolutions were duly moved and seconded, to-wit: RESOLVED, by the Board of Trustees of Sanitary and Improvement District No. 258 of Sarpy County, Nebraska, that Construction Fund Warrant Nos. 899 through 937, inclusive, issued on June 18, 2009, in the total amount of$278,569.43, 4 a Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 3 payable to RBC CAPITAL MARKETS CORP. be, and the same hereby are, canceled. BE IT FURTHER RESOLVED, that a certified copy of this resolution be filed with the Treasurer of Sarpy County, Nebraska. RESOLVED FURTHER, that the Chairman and Clerk be and hereby are authorized and directed to execute and deliver Construction Fund Warrants Nos. 938 through 1070, inclusive, dated June 18, 2009, in the total amount of $278,569.43 to replace the amounts due under canceled Warrant Nos. 899 through 937, to the following payees and in the following amounts, to be drawn on the Construction Fund Account of the District and to draw interest at the rate of seven percent (7%) per annum (interest to be payable on July 1 of each year), and to be redeemed no later than the dates noted below, subject to extension of said maturity date, by order of the District Court of Sarpy County, Nebraska, after notice is given as required by law, to-wit: CONSTRUCTION FUND (Due June 18, 2014) 1. Warrant No. 938 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 2. Warrant No. 939 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 3. Warrant No. 940 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 4. Warrant No. 941 in the sum of$700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 5. Warrant No. 942 in the sum of $1,584.31 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. f F Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 4 6. Warrant No. 943 in the sum of$141.79 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 7. Warrant No. 944 in the sum of $1,487.03 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 8. Warrant No. 945 in the sum of $2,965.83 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 9. Warrant No. 946 in the sum of $4,200.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 10. Warrant No. 947 in the sum of$700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 11. Warrant No. 948 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 12. Warrant No. 949 in the sum of$700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 13. Warrant No. 950 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 14. Warrant No. 951 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 15. Warrant No. 952 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. a r Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 5 16. Warrant No. 953 in the sum of $4,200.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 17. Warrant No. 954 in the sum of$700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 18. Warrant No. 955 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 19. Warrant No. 956 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 20. Warrant No. 957 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 21. Warrant No. 958 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 22. Warrant No. 959 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 23. Warrant No. 960 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 24. Warrant No. 961 in the sum of $1,992.44 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 25. Warrant No. 962 in the sum of$53.59 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 26. Warrant No. 963 in the sum of$956.30 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. • e r Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 6 27. Warrant No. 964 in the sum of $1,194.52 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 28. Warrant No. 965 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 29. Warrant No. 966 in the sum of $1,400.00 payable a able to RBC Capital Markets Corp. in payment of annual interest on warrants. 30. Warrant No. 967 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 31. Warrant No. 968 in the sum of$317.54 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 32. Warrant No. 969 in the sum of $5,873.15 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 33. Warrant No. 970 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 34. Warrant No. 971 in the sum of$700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 35. Warrant No. 972 in the sum of $2,800.00 payable a able to RBC Capital Markets Corp. in payment of annual interest on warrants. 36. Warrant No. 973 in the sum of $1,229.74 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 37. Warrant No. 974 in the sum of $7,688.01 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. a r Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 7 38. Warrant No. 975 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 39. Warrant No. 976 in the sum of$700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 40. Warrant No. 977 in the sum of$700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 41. Warrant No. 978 in the sum of$700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 42. Warrant No. 979 in the sum of $3,500.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 43. Warrant No. 980 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 44. Warrant No. 981 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 45. Warrant No. 982 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 46. Warrant No. 983 in the sum of$700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 47. Warrant No. 984 in the sum of $14,029.22 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 48. Warrant No. 985 in the sum of $1,361.28 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. { 1 Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 8 49. Warrant No. 986 in the sum of $1,411.19 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 50. Warrant No. 987 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 51. Warrant No. 988 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 52. Warrant No. 989 in the sum of$700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 53. Warrant No. 990 in the sum of$700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 54. Warrant No. 991 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 55. Warrant No. 992 n the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 56. Warrant No. 993 in the sum of $7,000.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 57. Warrant No. 994 in the sum of $7,000.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 58. Warrant No. 995 in the sum of$700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 59. Warrant No. 996 in the sum of $1,880.67 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. t R Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 9 60. Warrant No. 997 in the sum of$700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 61. Warrant No. 998 in the sum of $4,200.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 62. Warrant No. 999 in the sum of $2,800.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 63. Warrant No. 1000 in the sum of $314.86 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 64. Warrant No. 1001 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 65. Warrant No. 1002 in the sum of $637.22 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 66. Warrant No. 1003 in the sum of$10,500.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 67. Warrant No. 1004 in the sum of $675.63 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 68. Warrant No. 1005 in the sum of $1,334.03 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 69. Warrant No. 1006 in the sum of $3,500.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 70. Warrant No. 1007 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 10 71. Warrant No. 1008 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 72. Warrant No. 1009 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 73. Warrant No. 1010 in the sum of $3,500.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 74. Warrant No. 1011 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 75. Warrant No. 1012 in the sum of $5,226.74 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 76. Warrant No. 1013 in the sum of $7,000.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 77. Warrant No. 1014 in the sum of $3,500.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 78. Warrant No. 1015 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 79. Warrant No. 1016 in the sum of $3,233.66 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 80. Warrant No. 1017 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 81. Warrant No. 1018 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 11 82. Warrant No. 1019 in the sum of $3,105.37 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 83. Warrant No. 1020 in the sum of $715.27 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 84. Warrant No. 1021 in the sum of $3,500.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 85. Warrant No. 1022 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 86. Warrant No. 1023 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 87. Warrant No. 1024 in the sum of $922.08 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 88. Warrant No. 1025 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 89. Warrant No. 1026 in the sum of $3,500.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 90. Warrant No. 1027 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 91. Warrant No. 1028 in the sum of $7,355.13 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 92. Warrant No. 1029 in the sum of $5,600.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 12 93. Warrant No. 1030 in the sum of $2,800.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 94. Warrant No. 1031 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 95. Warrant No. 1032 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 96. Warrant No. 1033 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 97. Warrant No. 1034 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 98. Warrant No. 1035 in the sum of $4,526.95 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 99. Warrant No. 1036 in the sum of $1,021.01 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 100. Warrant No. 1037 in the sum of$23.85 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 101. Warrant No. 1038 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 102. Warrant No. 1039 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 103. Warrant No. 1040 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. r, n Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 13 104. Warrant No. 1041 in the sum of $769.11 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 105. Warrant No. 1042 in the sum of $283.46 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 106. Warrant No. 1043 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 107. Warrant No. 1044 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 108. Warrant No. 1045 in the sum of $7,000.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 109. Warrant No. 1046 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 110. Warrant No. 1047 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 111. Warrant No. 1048 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 112. Warrant No. 1049 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 113. Warrant No. 1050 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 114. Warrant No. 1051 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. • • t Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 14 115. Warrant No. 1052 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 116. Warrant No. 1053 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 117. Warrant No. 1054 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 118. Warrant No. 1055 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 119. Warrant No. 1056 in the sum of $1,911.28 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 120. Warrant No. 1057 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 121. Warrant No. 1058 in the sum of $480.56 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 122. Warrant No. 1059 in the sum of $3,500.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 123. Warrant No. 1060 in the sum of $2,800.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 124. Warrant No. 1061 in the sum of $2,800.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 125. Warrant No. 1062 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 15 126. Warrant No. 1063 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 127. Warrant No. 1064 in the sum of $2,100.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 128. Warrant No. 1065 in the sum of $3,500.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 129. Warrant No. 1066 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 130. Warrant No. 1067 in the sum of $1,400.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 131. Warrant No. 1068 in the sum of $4,587.25 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 132. Warrant No. 1069 in the sum of $700.00 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. 133. Warrant No. 1070 in the sum of $579.36 payable to RBC Capital Markets Corp. in payment of annual interest on warrants. BE IT FURTHER RESOLVED by the Board of Trustees of Sanitary and Improvement District No. 258 of Sarpy 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 c r Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 16 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. BE IT FURTHER RESOLVED by the Board of Trustees of Sanitary and Improvement District No. 258 of Sarpy 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. 258 of Sarpy 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 Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 17 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 Sarpy 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. v 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: Paul S. McCune, Michelle Zimmerman, Stacey Holt, Merlyn Masters and Susan McCune; voting nay thereon were the following Trustees: None. The Chairman then declared said resolution to be duly carried and adopted. With respect to Agenda Item No. 5, Attorney Huck reviewed briefly with the Board the proposed renewal of the District's general liability insurance coverage as put together by UNICO Group on behalf of the Greco Insurance Agency. The premium for the renewal Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 18 of the general liability coverage is $603.00. After further discussion, the following resolution was moved and seconded, to-wit: RESOLVED, by the Board of Trustees of Sanitary and Improvement District No. 258 of Sarpy County, Nebraska, that the policies of general liability and umbrella insurance for the period 4/14/09 through 4/14/10 be and hereby are approved; and further, that the Clerk is directed to retain said policies for the District's records. On roll call on the foregoing resolutions, the following Trustees voted aye: Paul S. McCune, Michelle Zimmerman, Stacey Holt, Merlyn Masters and Susan McCune; voting nay thereon were the following Trustees: None. The Chairman then declared said resolution to be duly carried and adopted. The Chairman then dire cted the Board's attention to Agenda Item No. 6, and reported that, on behalf of the District, he executed the engagement letter dated July 22, 2009 with Lutz & Company, P.C., the District's Auditor, for the preparation of the District's 2009-2010 Budget and the audit for fiscal year ended June 30, 2009. A copy of the engagement letter is attached to these minutes for reference. After discussion, the following resolution was duly moved and seconded, to-wit: RESOLVED, by the Board of Trustees of Sanitary and Improvement District No. 258 of Sarpy County, Nebraska,that the actions of the District's Chairman in executing the engagement letter with Lutz & Company, P.C. for the preparation of the 2009-2010 Budget and the Audit for fiscal year ended June 30, 2009 be, and hereby is, ratified and confirmed in all respects. On roll call on the foregoing resolutions, the following Trustees voted aye: Paul S. McCune, Michelle Zimmerman, Stacey Holt, Merlyn Masters and Susan McCune; voting nay thereon were the following Trustees: None. The Chairman then declared said resolution to be duly carried and adopted. The Chairman then directed the Board's attention to Agenda Item No. 7, Bills of the District, and presented for the Board's consideration the hereinafter described bills, statements and invoices. After review of same and thorough discussion, the following resolutions were duly moved and seconded, to-wit: RESOLVED, by the Board of Trustees of Sanitary and Improvement District No. 258 of Sarpy County, Nebraska, that the Chairman and Clerk be and they hereby are authorized Minutes of Meeting of Board of Trustees . August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 19 and directed to execute and deliver Warrants Nos. 1071 through 1080, inclusive, of the District, dated the date of this meeting, to the following payees and in the following amounts, Warrant Nos. 1071 through 1080, inclusive,to be drawn on the General Fund of the District and to draw interest at the rate of seven percent (7%) per annum, and no warrants to be drawn on the Construction Fund Account of the District and to draw interest at the rate of seven percent (7%) per annum (interest to be payable on July 1 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 Sarpy County, Nebraska, after notice is given as required by law, to-wit: GENERAL FUND (Due August 4, 2012) 1. Warrant No. 1071 in the sum of $2,735.75 payable to Omaha Public Power District, in payment of street light service from 6/4/09 through 7/8/09, account number 6851081182. 2. Warrant No. 1072 in the sum of $49.50 payable to Advantage Seeding&Sprinklers in payment of sprinkler repair in the boulevard right of ways in the District per Invoice No. 930. 3. Warrant No. 1073 in the sum of $250.00 payable to Zimmerman Lawn Care for weed control in the boulevard right of ways in the District per Invoice No. 19. 4. Warrant No. 1074 in the sum of $1,530.00 payable to Nebraska Hydro-Seeding for mowing the Schram Road ROW in the District per Invoice No. 4464. 5. Warrant No. 1075 in the sum of $1,350.00 payable to McCune Inc. (formerly Jason's Pro-Mow) for boulevard and right of way maintenance in the District per Invoice Nos. 215 and 227. . r 'y • Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 20 6. Warrant No. 1076 in the sum of $603.00 payable to UNICO Group for renewal of general liability policy no. #CGSNEG03333. 7. Warrant No. 1077 in the sum of $1,249.62 payable to Lamp, Rynearson & Associates, Inc. in payment of engineering services per Invoice No. 0104008.900- 0000017. 8. Warrant No. 1078 in the sum of$3,000.00 and Warrant No. 1079 in the sum of $1,843.68 (total $4,843.68) payable to Croker, Huck, Kasher, DeWitt, Anderson & Gonderinger, L.L.C. in payment of legal services and costs per statements dated 7/21/09 and 8/4/09; Account No. 479-000. 9. Warrant No. 1080 in the sum of $630.58 payable to Kuehl Capital Corporation in payment of placement fee for Warrant Nos. 1071 through 1079, inclusive. BE IT FURTHER RESOLVED by the Board of Trustees of Sanitary and Improvement District No. 258 of Sarpy 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; Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 21 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. 258 of Sarpy 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. 258 of Sarpy 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 Sarpy 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 Minutes of Meeting of Board of Trustees August 4, 2009 SID No. 258 of Sarpy County, Nebraska Page 22 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: Paul S. McCune, Michelle Zimmerman, Stacey Holt; Merlyn Masters and Susan McCune; voting nay thereon were the following Trustees: None. The Chairman then declared said resolution to be duly carried and adopted. With respect to Miscellaneous Matters, the Chairman reported that a refund of $2,248.30 has been received from Omaha Public Power District on the Sanitary Sewer - Section I (OPPD Transformer) project. The sum has been deposited to the District's construction fund account, as evidenced by the Treasurer's receipt attached to these minutes. There being no further business, a motion for adjournment was duly moved, seconded and unanimously carried. r $a I . McCune, irmah & Trustee L,/,‘.0jd j ik.t/ %rCA Michelle Zimmerman, Clerk & Trustee 00381308.WPD