2010-04-28 SID 451 Minutes RECE . 0
MINUTES OF MEETING
-'J P1 '
OF
SANITARY AND IMPROVEMENT DISTRICT Q;451 r.,`ti“ "
OF DOUGLAS COUNTY, NEBRASKA
A meeting of the Board of Trustees of Sanitary and Improvement District No. 451 of Douglas County,
Nebraska, was convened in open and public session at 9:00 a.m. on the 28th day of April, 2010, at Regency
Center, 10250 Regency Circle, Suite 300, Omaha, Nebraska.
Present were: Howard M. Kooper, Becky Anderson, Bob Stratton, Larry Kelberg and Tom Fellman.
Absent: None.
Notice of the meeting was given in advance thereof by publication in The Daily Record, on April 22,
2010, 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. Upon roll call, all of the Trustees were present.
The Chairman first 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 a statement from Hancock & Dana, PC, accountants for the District, for
final billing in the preparation of audited financial statements for the year ended June 30, 2009, and
Invoice
preparation of Forms 1096 and 1099, #44702, in the amount of One Thousand Nine Hundred
Sixty-Six and no/100 Dollars ($1,966.00).
There was next presented a statement from Thompson, Dreessen & Dorner, Inc., engineers for the
District, for services rendered in miscellaneous District matters through March 31, 2010, Invoice #88038, in
the amount of Nine Hundred Forty and no/100 Dollars ($940.00).
There was next presented a statement from Kirkham Michael, engineers for the District, for
miscellaneous services rendered in Engineer's Estimate No. 83, Miscellaneous Services #43, Invoice
#76108, in the amount of Nine Hundred Seven and 26/100 Dollars ($907.26).
There was next presented a statement from Pansing Hogan Ernst& Bachman LLP, attorneys for the
District, for legal services rendered through March 31, 2010, in the amount of Five Thousand One Hundred
Eighty-Five and 50/100 Dollars ($5,185.50), and costs advanced in the amount of One Hundred Forty-One
and 90/100 Dollars ($141.90); said statement being in the aggregate amount of Five Thousand Three
Hundred Twenty-Seven and 40/100 Dollars ($5,327.40).
There were next presented statements from Omaha Public Power District, for street light services at
the location of 18100 Chicago Street, from December 30, 2009 through March 30, 2010, in the aggregate
amount of Three Thousand Four Hundred Twenty-Five and 10/100 Dollars ($3,425.10).
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.451 of Douglas County, Nebraska, that the Chairman and Clerk be and
they hereby authorized and directed to execute and deliver Warrant Nos.
987 through 992 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 28, 2013,
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. 987, for the amount of One Thousand Nine Hundred
Sixty-Six and no/100 Dollars($1,966.00), payable to Hancock&Dana, PC.
Warrant No. 988, for the amount of Nine Hundred Forty and
no/100 Dollars ($940.00), payable to Thompson, Dreessen &Dorner, Inc.
Warrant No. 989, for the amount of Nine Hundred Seven and
26/100 Dollars ($907.26), payable to Kirkham Michael.
Warrant No. 990, for the amount of Five Thousand and no/100
Dollars ($5,000.00), and Warrant No. 991, for the amount of Three
Hundred Twenty-Seven and 40/100 Dollars ($327.40), payable to Pansing
Hogan Ernst& Bachman LLP.
Warrant No.992, for the amount of Three Thousand Four Hundred
Twenty-Five and 10/100 Dollars ($3,425.10), payable to Omaha Public
Power District, Account#7016317477.
FURTHER RESOLVED by the Board of Trustees of Sanitary and
Improvement District No. 451 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.451 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.451 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
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.
Discussion was next had by the Trustees with regard to retaining the engineering firm for and on
behalf of the District. Upon a motion duly made and seconded and upon a roll call vote the Trustees,
Howard M. Kooper, Becky Anderson, Bob Stratton, Larry Kelberg and Tom Fellman voted "Aye" with none
voting"Nay" adopting the following resolution:
RESOLVED, that the Board of Trustees employ and retain Thompson,
Dreessen & Dorner, Inc., consulting engineers and planners as the
engineers and planners for the District and that the attached engineering
contract be approved and ratified. Further, that the Chairman and Clerk be
and they hereby are authorized to execute such contract for and on behalf
of the District.
[THE BALANCE OF THIS PAGE LEFT INTENTIONALLY BLANK—
SIGNATURES APPEAR ON THE FOLLOWING PAGE]
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.
Becky Anderson, as Clerk for Sanitary and Improvement District No.451 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 28, 2010, meeting.
11,
ecky A •eroon, Clerk