2007-03-12 SID 499 Minutes ,
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MINUTES OF MEETING OF SANITARY AND
CITY CLERK, IMPROVEMENT DISTRICT NO. 499 OF
[ MP, iA. NL RASI i; DOUGLAS COUNTY, NEBRASKA
A meeting of the Board of Trustees of Sanitary and Improvement District No. 499
of Douglas County, Nebraska,was convened in open and public session at 10:00 a.m. on
March 12, 2007, at 14922 A Circle, Omaha, Nebraska. Present were: Trustees Steve
Faller, Teresa Hartman, Dan Livingston, Kathleen Livingston and Dan Faller; Absent:
None. Also present were Engineer Rickey Carter and Attorney Robert J. Huck.
Notice of the meeting was given in advance thereof by publication in The Daily
Record, Omaha, Nebraska, on March 6, 2007, a copy of the Proof of Publication being
attached to these minutes. Notice of this meeting was sent to the Omaha City Clerk, 1819
Farnam Street, Omaha, 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 directed the Board's attention to Agenda Item No. 3, Audit Report for
the year ended June 30, 2006. The Clerk presented the audit report which had been
prepared by the District's accountants. Following review, it was duly moved and seconded
that said report be accepted and that the Clerk retain a copy for the District's records.
On roll call on the foregoing resolution, the following Trustees voted aye: Steve
Faller, Teresa Hartman, Dan Livingston, Kathleen Livingston and Dan Faller; voting nay
thereon were the following Trustees: None. The Chairman then declared said resolution
duly carried and adopted.
The Chairman then directed the Board's attention to Agenda Item No. 4, Payment
of Bills of the District, and presented for the Board's consideration the following bills,
statements and invoices. After thorough review of same and discussion thereon, the
following resolutions were duly moved and seconded, to-wit:
RESOLVED, by the Board of Trustees of Sanitary and
Improvement District No. 499 of Douglas County, Nebraska,
Minutes of Meeting of Board of Trustees March 12, 2007
SID No. 499 of Douglas County, Nebraska Page 2
that the Chairman and Clerk be and they hereby are
authorized and directed to execute and deliver Warrants
Nos. 680 through 682 of the District, dated the date of this
meeting, to the following payees and in the following amounts,
said Warrants Nos. 680 through 682 to be drawn on the
General Fund account of the District and to bear interest at the
rate of seven percent (7%) per annum, (interest to be payable
on November 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 Douglas County, Nebraska, after notice is given as
required by law, to-wit:
GENERAL FUND
(Due March 12, 2010)
1. Warrant No. 680 in the sum of $818.51 payable to
Omaha Public Power District in payment of street lights
service 1/30/07 to 2/27/07, Account No. 3796158951.
2. Warrant No. 681 in the sum of $3,119.10- payable to
Kirkham Michael in payment of Engineer's Estimate
Nos. 109 and 110 for miscellaneous services.
3. Warrant No. 682 in the sum of $196.88 payable to
Kuehl Capital Corporation in payment of 5% placement
fee for Warrants 680 and 681.
BE IT FURTHER RESOLVED by the Board of Trustees of
Sanitary and Improvement District No. 499 of Douglas County,
Nebraska, that both they and the District hereby find and
determine and covenant, and warrant and agree that (a) the
facilities for which the above Warrants are issued are for
essential governmental functions and are designed to serve
members of the general public on an equal basis; (b)there are
no persons with rights to use said facilities other than as
members of the general public; (c)ownership and operation of
said facilities is with the District or another political subdivision;
(d) none of the proceeds of the Warrants will be loaned to any
person and to the extent that special assessments have been
or are to be levied for any said facilities, such special
assessments have been or are to be levied under Nebraska
law as a matter of general application to all property specially
Minutes of Meetingof Board of Trustees
March 12, 2007
SID No. 499 of Douglas County, Nebraska Page 3
benefitted by such facilities in the District; (e)the development
of the land in the District is for residential or commercial use;
(f) the development of the land in the District for sale and
occupation by the general public is proceeding with reasonable
speed and (g) the District hereby authorizes and directs the
Chairman or Clerk to file, when due, an information reporting
form pursuant to Section 149(e)of the Internal Revenue Code
of 1986 pertaining to the above Warrants.
BE IT FURTHER RESOLVED by the Board of Trustees of
Sanitary and Improvement District No. 499 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.
BE IT FURTHER RESOLVED by the Board of Trustees of
Sanitary and Improvement District No. 499 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:
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
Minutes of Meeting of Board of Trustees March 12, 2007
SID No. 499 of Douglas County, Nebraska Page 4
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 1.148-2 (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: Steve
Faller, Teresa Hartman, Dan Livingston, Kathleen Livingston and Dan Faller; voting nay
thereon were the following Trustees: None. The Chairman then declared said resolutions
duly carried and adopted.
The Chairman directed the Board's attention to Agenda Item No. 5, Miscellaneous
Matters. He reported that the District had received a bid for spring street sweeping in the
amount of$500.00. After discussion, the following resolution was moved and seconded,
to-wit:
RESOLVED, that the engineer be and hereby is authorized to
engage K.C. Sweeping to perform spring street sweeping of
the streets in the District; that before the commencement of
any such street sweeping work, this contractor should be
required to file a certificate of insurance with the engineer
evidencing the standard coverages required by the District.
On roll call on the foregoing resolution, the following Trustees voted aye: Steve
Faller, Teresa Hartman, Dan Livingston, Kathleen Livingston and Dan Faller; voting nay
thereon were the following Trustees: None. The Chairman then declared said resolution
duly carried and adopted.
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Minutes of Meeting of Board of Trustees March 12, 2007
SID No. 499 of Douglas County, Nebraska Page 5
There being no further business, a motion for adjournment was duly moved,
seconded and unanimously carried.
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Steve Faller, Chairman & Trustee
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Teresa Hartman, Clerk & Trustee
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