2008-05-23 SID 499 Minutes•
RECEIVED
MINUTES OF MEETING OF SANITARY ANDJU _9 All $' 26
IMPROVEMENT DISTRICT NO. 499 OF ' CITY =y . iii
DOUGLAS COUNTY, NEBRASKA OMAHA, 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
May 23,2008, at 14922 A Circle, Omaha, Nebraska. Present were: Trustees Steve Faller,
Dan Livingston, Kathleen Livingston and Dan Faller; Absent: None. Also present were
Engineer Robert Dean and Attorney Robert J. Huck.
Notice of the meeting was given in advance thereof by publication in The Daily
Record, Omaha, Nebraska, on May 16, 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. The following
matters were discussed:
a. With respect to 132"d and State Street Improvements pursuant to an
Interlocal Cooperation Agreement, Attorney Huck is working with the County to proceed
with most of the grading work on the 132' Street ROW at this time.
b. With respect to Sanitary Sewer, Storm Sewer and Paving Public
Improvements Section IV, the Chairman reported that the contractor is making progress
on the project.
The Chairman then directed the Board's attention to Agenda Item No. 4 regarding
bids for Concrete Paving, Storm Sewer and Sanitary Sewer System-Section V(Lots 1-93,
Deer Creek Highlands Northeast). The engineer reported that 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 29,
2008. Bids will be considered at the next meeting of the Board.
Minutes of Meeting of Board of Trustees May 23, 2008
SID No. 499 of Douglas County, Nebraska Page 2
The Chairman then directed the Board's attention to Agenda Item No. 5, 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. 902 through 908, inclusive, of the District, dated the date
of this meeting, to the following payees and in the following
amounts, said Warrants Nos. 902 through 906 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. 907 and 908 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 May 23, 2011)
1. Warrant No. 902 in the sum of 675.00 payable to K.C.
Sweeping in payment of Invoice No. 5932 for street
sweeping in the District.
2. Warrant No. 903 in the sum of $140.00 payable to
Thiele Geotech Inc. in payment of Invoice No. 32044 re
sanitary sewer excavations.
3. Warrant No. 904 in the sum of$272.32 payable to E&A
Consulting Group, Inc. in payment of Invoice
No. 106146 for professional services re erosion and
sediment control.
4. Warrant No. 905 in the sum of $1,375.00 payable to
Omaha Public Power District in payment of street lights
service 4/28/08 - 5/28/08 (estimated), Account
No. 3796158951.
Minutes of Meeting of Board of Trustees May 23, 2008
SID No. 499 of Douglas County, Nebraska Page 3
5. Warrant No. 906 in the sum of $123.11 payable to
Kuehl Capital Corporation in payment of 5% placement
fee for Warrants Nos. 902 through 905.
CONSTRUCTION FUND
(Due May 23, 2013)
6. Warrant No. 907 in the sum of $2,500.00 payable to
Valuation Services in payment for appraisal report on
David L. Davis, LLC tract.
7. Warrant No. 908 in the sum of $125.00 payable to
Kuehl Capital Corporation in payment of 5% placement
fee for Warrant No. 907.
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, 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
Minutes of Meeting of Board of Trustees May 23, 2008
SID No. 499 of Douglas County, Nebraska Page 4
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.
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
Minutes of Meeting of Board of Trustees May 23, 2008
SID No. 499 of Douglas County, Nebraska Page 5
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.
There being no further business, a motion for adjournment was duly moved,
seconded and unanimously carried.
St a Faller °hairman & Trustee
Dan Livingston, C erk & Trustee
00339062.W PD