2008-07-02 SID 499 Minutes C
MINUTES OF MEETING OF SANITARY AND JUL `± "'
IMPROVEMENT DISTRICT NO. 499 OF
DOUGLAS COUNTY, NEBRASKA P { F t Y
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 9:00 a.m. on
July 2, 2008, at 14922 A Circle, Omaha, Nebraska. Present were: Trustees Steve Faller,
Dan Livingston, Kathleen Livingston and Dan Faller; Absent: None. Also present were
Engineer John Adler and Attorney Robert J. Huck.
Notice of the meeting was given in advance thereof by publication in The Daily
Record, Omaha, Nebraska, on June 25, 2008, 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, and the Board
reviewed a financing commitment from Kuehl Capital Corporation with respect to the area
in the District identified as Deer Creek Highlands Northeast. After review and careful
consideration, the following resolution was duly moved and seconded, to-wit:
BE IT RESOLVED by the Board of Trustees of Sanitary and
Improvement District No. 499 of Douglas County, Nebraska,
that the attached Financing Agreement with Kuehl Capital
Corporation dated June 27, 2008, be and hereby is approved,
and that the Chairman and Clerk be and hereby are authorized
and directed to execute same on behalf of the District.
On roll call on the foregoing resolution, the following Trustees voted aye: Steve
Faller, 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.
Minutes of Meeting of Board of Trustees July 2, 2008
SID No. 499 of Douglas County, Nebraska Page 2
The Chairman directed the Board's attention to Agenda Item No. 4, Engineer's
Report, and the following matters were discussed:
a. With respect to 132"d and State Street Improvements pursuant to an
Interlocal Cooperation Agreement, the Board reviewed correspondence from Kirkham
Michael requesting payment for services to date. After discussion, the Board authorized
payment of SID 499's share to Douglas County when notified by Douglas County of the
proper amount.
b. With respect to Sanitary Sewer, Storm Sewer and Paving Public
Improvements Section IV, the Chairman reported that the contractor is continuing to make
progress on the project, and it should be completed within the next month.
The Chairman then directed the Board's attention to Agenda Item No. 5 regarding
bids for Concrete Paving, Storm Sewer and Sanitary Sewer System-Section V(Lots 1-93,
Deer Creek Highlands Northeast). As noted at previous meetings, it was necessary to
issue addendums to the specifications for the project, and the Engineer notified all bidders
of the revisions and granted an extension of the bid date and time on this project to
May 22, 2008. A subsequent extension was also necessary, extending the bid date to
May 29, 2008. The Chairman then presented for the Board's consideration the various
bids received from contractors on May 29, 2008, for the construction of Concrete Paving,
Storm Sewer and Sanitary Sewer System - Section V, such bids having been submitted
in response to published Notice to Contractors (Proof of Publication of said Notice being
attached to these minutes). The low bid was submitted by MBC Construction Co., Inc. of
Omaha, Nebraska, in the sum of$914,478.41. The Engineers recommended that said low
bid be accepted. After full discussion, the following resolution was duly moved and
seconded:
BE IT RESOLVED by the Board of Trustees of Sanitary and
Improvement District No. 499 of Douglas County, Nebraska,
that the bid submitted by MBC Construction Co., Inc. for
construction of Concrete Paving, Storm Sewer and Sanitary
Sewer System - Section V in the sum of $914,478.41 be and
hereby is accepted; that the Chairman and Clerk be and
hereby are authorized to enter into a written contract in the
foregoing amount with said contractor on behalf of the District,
provided that said contractor furnish the certificate of insurance
and the bonds required by the specifications for the project.
On roll call on the foregoing resolution, the following Trustees voted aye: Steve
Faller, 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.
Minutes of Meeting of Board of Trustees July 2, 2008
SID No. 499 of Douglas County, Nebraska Page 3
The Chairman then directed the Board's attention to Agenda Item No. 6, 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,
that the Chairman and Clerk be and they hereby are
authorized and directed to execute and deliver Warrants
Nos. 957 through 999 inclusive, of the District, dated the date
of this meeting, to the following payees and in the following
amounts, said Warrants Nos. 957 through 960 to be drawn on
the General Fund account of the District and to bear interest
at the rate of seven percent (7%) per annum, and Warrants
Nos. 961 through 999 to be drawn on the Construction 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 July 2, 2011)
1. Warrant No. 957 in the sum of $1,365.00 payable to
Omaha Public Power District in payment of street lights
service 6/29/08 through 7/30/08 (estimated), Account
No. 3796158951.
2. Warrant No. 958 in the sum of $1,652.74 payable to
E&A Consulting Engineers in payment of Invoice No.
106381 for services re erosion control.
3. Warrant No. 959 in the sum of $1,983.16 payable to
Croker Huck Kasher DeWitt Anderson & Gonderinger
L.L.C. in payment of legal services and costs per
statement dated 7/2/08 Account No. 476-0.
4. Warrant No. 960 in the sum of $250.04 payable to
Kuehl Capital Corporation in payment of 5% placement
fee for Warrant Nos. 957 through 959.
Minutes of Meeting of Board of Trustees July 2, 2008
SID No. 499 of Douglas County, Nebraska Page 4
CONSTRUCTION FUND
(Due July 2, 2013)
5. Warrant No. 961 in the sum of $833.33 payable to
Douglas County Engineer in reimbursement for Thiele
Geotech Invoice No. 31819 for testing services re 132nd
and State Street Improvements.
6. Warrant No. 962 in the sum of$10,000.00 and Warrant
No. 963 in the sum of $755.00 (total $10,755.00)
payable to Thiele Geotech Inc. in payment of Invoice
Nos. 32243 and 32241 and 32518 (Engineer's
Estimates 142, 143 and 147) for testing services re
Paving and Sanitary Sewer Section IV.
7. Warrants Nos. 964 through 983 in the sum of
$10,000.00 each, and Warrant No. 984 in the sum of
$1,092.31 (total $201,092.31) payable to MBC
Construction Company in payment of Engineer's
Estimate No. 146 (Contractor's Progress Estimate
No. 4) re Paving Public Improvement Improvements
Section IV.
8. Warrants Nos. 985 through 994 in the sum of
$10,000.00 each, and Warrant No. 995 in the sum of
$344.42(total$100,344.42)payable to RD Engineering,
Inc. in payment of Invoice Nos. 1722 and 1747 re
Concrete Paving, Storm Sewer and Sanitary Sewer
System - Section V.
9. Warrant No. 996 in the sum of$10,000.00 and Warrant
No. 997 in the sum of $5,668.02 (total $15,668.02)
payable to Croker Huck Kasher Dewitt Anderson &
Gonderinger LLC in payment of legal services and costs
per statement dated 7/2/08, Account No. 476-001.
10. Warrant No. 998 in the sum of$10,000.00 and Warrant
No. 999 in the sum of $6,434.65 (total $16,434.65)
payable to Kuehl Capital Corporation in payment of 5%
placement fee for Warrant Nos. 961 through 997,
inclusive.
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
Minutes of Meeting of Board of Trustees July 2, 2008
SID No. 499 of Douglas County, Nebraska Page 5
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.
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.
Minutes of Meeting of Board of Trustees July 2, 2008
SID No. 499 of Douglas County, Nebraska Page 6
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
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, 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.
.- y
Minutes of Meeting of Board of Trustees July 2, 2008
SID No. 499 of Douglas County, Nebraska Page 7
The Chairman then directed the Board's attention to Agenda Item No. 9. General
discussion of the upcoming election of Trustees, which is scheduled for September 9,
2008, was had.
There being no further business, a motion for adjournment was duly moved,
seconded and unanimously carried.
Steve Faller„ hairman & Trustee
Dan Livingstorl, Jerk & Trustee
00342686.W PD