RES 2002-0244 - Engagement of law firm Kutak Rock LLP for bond counsel A . n
U,° �'�s� j; t: 1i 1 [i Law Department
• -T�" r, � Omaha/Douglas Civic Center
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n® 'f�r �► � 02 J� y 28 , 1819 Farnam Street,Suite 804
o r-r' r ;% . r` I; (i 3 Omaha,Nebraska 68183-0804
A�� �yry (402)444-5115
�TFD FEBRJ� C 7 U _ ' Telefax(402)444-5125
City of Omaha n�9 A;.f
1 ` `x Paul D.Kratz
Mike Fahey,Mayor ' tJ L b R 4S0, City Attorney
Honorable President
and Members of the City Council,
The attached Resolution approves the engagement of the law firm of Kutak Rock LLP to serve as
bond counsel for the issuance of Special Tax Redevelopment Bonds and Special Obligation
Bonds.
The fee is as outlined in the proposal letter dated January 24, 2002; a copy of which is also
attached.
i
Respectfully s,bi • Referred to City Coun for Consideration:
1 Ad—
Alpo
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P:�D r atz Date ayol's Offic Date
City Attorney
Approved: .
/1,-‘44- --• 0/.7.42-
Stanley P. min Date
Finance Director
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KUTAK ROCK LLP ATLANTA
CHICAGO
THE OMAHA BUILDING DENVER
1850 FARNAM STREET DES MOINES
FAYETTEVILLE
OMAHA, NEBRASKA 68102-2186 KANSAS CITY
402-346-6000 LINCOLN
LITTLE ROCK
FACSIMILE 402-346-1148 NEWPORT BEACH
www.kutakrock.com OKLAHOMA CITY
PASADENA
RICHMOND
SCOTTSDALE
January 24, 2002 WASHINGTON
VIA FIRST-CLASS MAIL
Paul D. Kratz, Esq.
City Attorney
City of Omaha, Nebraska
1819 Farnam Street
Omaha, NE 68183
City of Omaha,Nebraska City of Omaha,Nebraska
Special Tax Revenue Redevelopment Bonds Special Obligation Bonds
Tax-Exempt Series 2002A and Taxable Series 2002B (Riverfront Redevelopment Project)
Tax-Exempt Series 2002A and Taxable Series 2002B
Dear Mr. Kratz:
We are pleased to have the opportunity to work with you in our capacity as Bond Counsel
to the City of Omaha for the above-referenced bond issues proposed for issuance by the City
during February 2002 (collectively, the "Bonds"). Each such bond issue represents a separate
engagement of Kutak Rock LLP by the City of Omaha.
We propose that the fee for our services in connection with each issue of the Bonds will
be $1.00 per $1,000 principal amount of such issue of Bonds, plus reimbursement for out-of-
pocket expenses for photocopying, communications; transcript preparation, computer services
and any travel at the City's request. Our proposal contemplates a transaction of significant
complexity in terms of legal analysis, document preparation and negotiation, and a structure that
includes variable rate provisions and involving third party credit and liquidity support and a
related interest rate swap. We expect our fees and expenses to be paid by the City from the
proceeds of the related issue of Bonds. If Bonds are not issued, we would expect reimbursement
of our related out of pocket expenses and would request the opportunity to discuss with you fair
compensation for our investment of time and effort into the Bond issues.
We are pleased to reaffirm that Kutak Rock LLP will be available to render advice and to
provide consultation to the City of Omaha on a routine basis. In accordance with our letter to the
City dated May 2, 1984, and reaffirmed in several subsequent proposal letters, we will not charge
the City for such routine services, unless they relate to a particular financing then underway.
01-331424.01
•
KUTAK ROCK LLP
Paul D. Kratz, Esq.
January 24, 2002
Page 2
We further agree to act on a continuing basis as Bond Counsel to the City of Omaha for
so long as such representation is mutually agreeable to the City of Omaha and Kutak Rock LLP.
Thank you for these opportunities to be of service to the City of Omaha. Please do not hesitate
to call should you have any questions about matters addressed by this letter or otherwise about
the Bonds.
Sincerely yours,
Curtis L. C stensen
•
aes
cc: C. Kenneth Bunger, Esq. (via First Class)
Mr. Stanley Timm (via First Class)
•
0 1-3 3 1 424.01
c=25A CITY OF OMAHA
LEGISLATIVE CHAMBER
• Omaha,Nebraska
RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA:
II
WHEREAS, the City of Omaha (the "City") intends to issue Special Tax
Redevelopment Bonds in an amount of up to ten million five hundred thousand dollars
($10,500,000) to fund the South Omaha Industrial Park improvements, 17th and Jones Street
paving, Capital Avenue street scene improvements, Orpheum utility relocation and the Union
Pacific Headquarters site development; and,
WHEREAS, the City of Omaha also intends to issue Special Obligation Bonds in
an amount up to eighty-four million dollars ($84,000,000) to acquire, construct and improve
projects for the Riverfront Development Project, to-wit: Gallup Campus, a National Park Service
building site, Millers Landing Park, and further Riverfront Development sites; and,
WHEREAS, the City requires the services of a nationally recognized law firm
with particular expertise as bond counsel in tax-exempt municipal bond financing; and,
WHEREAS, the law firm of Kutak Rock LLP , Omaha, Nebraska, has served a
bond counsel to the City since 1984, is a nationally recognized law firm with particular expertise
as bond counsel in tax-exempt municipal bond financings and has provided legal services to the
City with respect to the development of this project since its inception; and,
WHEREAS, the law firm of Kutak Rock LLP has proposed to serve as bond
counsel to the City for the issue or issues of the City's bonds to finance the Special Tax Revenue
Redevelopment Bonds and Special Obligation Bonds; and,
WHEREAS, it is in the best interests of the City that the City engage the law firm
of Kutak Rock LLP in accordance with the terms of its proposal for the provision of bond
counsel services to the City with respect to the Special Tax Revenue Redevelopment Bonds and
Special Redevelopment Bonds.
•
By
Councilmember
Adopted
City Clerk
Approved
Mayor
•c.:25,k• '
CITY OF OMAHA
LEGISLATIVE CHAMBER
Omaha,Nebraska
- •
PAGE 2
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF OMAHA:
THAT, the City Council does hereby approve the engagement by the City of
Omaha of the law firm of Kutak Rock LLP to serve as bond counsel for the bond issue or bond •
issues of the City for the financing or refinancing of Special Tax Revenue Redevelopment Bonds
and Special Obligation Bonds and authorizes the City to contract with Kutak Rock LLP for the
provision of such services in accordance with the terms of its proposal to the City.
P:\Law1\6571pjm.doc APPROVED S FO :
CITY ATTO DATE
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