2007-09-12 SID 501 Minutes RECEIVED
MINUTES OF MEETING
OF i For
SANITARY AND IMPROVEMENT DISTRICT NO. 501 CITY CLERK
OF DOUGLAS COUNTY, NEBRASKA CMAHA, NEaf4KA.
A meeting of the Board of Trustees of Sanitary and Improvement District No. 501 of Douglas
County, Nebraska, was convened in open and public session at 11:00 a.m. on the 12th day of.September,
2007, at 10250 Regency Circle, Suite 300, Omaha, Nebraska.
Present were: John C. Allen, Joyce A. Sramek, Jeanne D. Knox, Joseph J. Valenti and Gerald L.
Torczon.
Absent: None.
Notice of the meeting was given in advance thereof by publication in The Daily Record on
September 6, 2007, 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 by the undersigned presiding as Chairman. Upon roll call, all of the
Trustees were present.
The Chairman publicly stated to all in attendance that a current copy of the Nebraska Open Meetings
P Y
Act was available for review and indicated the location of such copy in the room where the meeting was being
held.
The Clerk next presented in accordance with the provisions of Neb. R.R.S. Section 77-1601.02, the
publication concerning the Board of Trustees recommendation that the property tax request for tax year
2007-2008 be set at a different amount than the 2006-2007 tax request. The Clerk further reported that no
person had appeared at the meeting in response to such hearing notice. The Clerk was directed to attach a
copy of such notice to the minutes of these proceedings.
After discussion and upon a motion duly made and seconded, and upon a roll call vote,the Trustees,
John C.Allen, Joyce A. Sramek, Jeanne D. Knox, Joseph J. Valenti and Gerald L. Torczon voted "Aye"with
none voting"Nay"with the following resolution being thereby adopted and approved:
RESOLVED, by the Board of Trustees of Sanitary and Improvement District
No. 501 of Douglas County, Nebraska, that it is advisable that the property
tax request for tax year 2007-2008 be set at a different amount than the
2006-2007 tax request as set out in the proof of publication attached hereto
and incorporated herein by this reference, as follows:
2006-2007 Property Tax Request $ 28,762.80
2006 Tax Rate 0.880000
Property Tax Rate (2006-2007
Request/2007 Valuation) 0.224846
2007-2008 Proposed Property Tax Request $ 112,571.36
General Fund $ 112,571.36
Bond Fund $ 0.00
Proposed 2007 Tax Rate 0.880000
General Fund 0.880000
Bond Fund 0.00
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.
Joyce A. Sramek, as Clerk for Sanitary and Improvement District No. 501 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 September 12, 2007, meeting.
JOYC . RAME , Clerk
RECEIVED
MINUTES OF MEETING
OF 07 ` ' py
SANITARY AND IMPROVEMENT DISTRICT NO. 501 G►T y C L t=?K
OF DOUGLAS COUNTY, NEBRASKA M 1i fd r S
A meeting of the Board of Trustees of Sanitary and Improvement District No. 501 of Douglas
County, Nebraska, was convened in open and public session at 11:05 a.m. on the 12th day of September,
2007, at 10250 Regency Circle, Suite 300, Omaha, Nebraska.
Present were: John C. Allen, Joyce A. Sramek, Jeanne D. Knox, Joseph J. Valenti and Gerald L.
Torczon.
Absent: None.
Notice of the meeting was given in advance thereof by publication in The Daily Record on
September 6, 2007, 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
theDistrict at 10250 Regency Circle, Suite 300, Omaha, Nebraska
was at all times available at the office for g y
68114.
The meeting was called to order by the undersigned presiding as Chairman. Upon roll call, all of the
Trustees were present.
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 Clerk first reported in accordance with the provisions of Neb. R.R.S. Section 13-501 through 13-
513, the District's certified public accountants were directed to prepare a proposed budget and further that
the Clerk attended to the required publication of notice with regard to the budgetary hearing to be held by the
Board of Trustees. The Clerk had been directed to give the appropriate notices in accordance with the
Nebraska Budget Act and that a budgetary hearing for the District be held on the 12th day of September,
2007, at 10250 Regency Circle, Suite 300, Omaha, Nebraska.
The Clerk next presented the publication of this budgetary hearing as presented in The Daily Record.
The Clerk next reported that such notice of the budgetary hearing along with a budget summary had been
published in accordance with law. The Clerk further reported that it appeared that no person had appeared
at the meeting in response to such notice of the budgetary hearing and the Clerk was directed to attach a
copy of such notice to the minutes of these proceedings.
After a lengthy discussion and upon a motion duly made and seconded, and upon a roll call vote,the
Trustees, John C. Allen, Joyce A. Sramek, Jeanne D. Knox, Joseph J. Valenti and Gerald L. Torczon, voted
"Aye"with none voting"Nay"with the following resolution being thereby adopted and approved:
RESOLVED, by the Board of Trustees of Sanitary and Improvement District
No. 501 of Douglas County, Nebraska, that the budget and tax levy as
tentatively set forth be adopted as the final budget and levy in accordance
with Exhibit"A" attached hereto and by this reference made a part hereof.
Further that the Clerk of the District be directed to file a copy of the adopted
budget with the levying board of the State Auditor's office as well as
certifying the levy to the Douglas County officials as well as attaching a
proof of publication to such adopted budget.
With the budget for the District having been adopted, the Chairman then stated that it would be
appropriate at this time to levy the tax in accordance with the budget statement. After a full and complete
discussion and upon a motion duly made and seconded, and upon the following roll call vote, the Trustees,
John C. Allen, Joyce A. Sramek, Jeanne D. Knox, Joseph J. Valenti and Gerald L. Torczon voted "Aye"with
none voting"Nay"thereby passing and adopting the following resolution:
RESOLVED, that Sanitary and Improvement District No. 501 of Douglas
County, Nebraska, levy and collect for the year 2007-2008 a tax of
$0.880000 per One Hundred and no/100 Dollars ($100.00)actual valuation
of taxable property in the District, except intangible property, said tax to be
credited to the appropriate fund as indicated below:
$0.880000 on each One Hundred and no/100 Dollars ($100.00)
actual valuation to be credited to the General Fund of the District and
thereby collect$112,571.36 in taxes to be credited to this fund; and
$0.00 on each One Hundred and no/100 Dollars ($100.00) actual
valuation to be credited to the Construction (Bond) Fund of the District and
thereby collect$0.00 in taxes to be credited to this fund.
FURTHER RESOLVED, that the Clerk of this District be and hereby is
directed to deliver and file with the County Clerk of Douglas County,
Nebraska and the Auditor of Public Accounts, a copy of this resolution.
There were next presented miscellaneous bills, invoices, statements, and recommendations for the
Board's consideration.
There were next presented statements from Todco Barricade Company as follows: (i) Invoice No.
101362 in the amount of One Hundred Fourteen and 47/100 Dollars ($114.47); (ii) Invoice No. 101527 in the
amount of One Hundred Ten and 78/100 Dollars ($110.78); and (iii) Invoice No. 102280 in the amount of
One Hundred Fourteen and 47/100 Dollars ($114.47); said statements being in the aggregate amount of
Three Hundred Thirty-Nine and 72/100 Dollars($339.72).
There was next presented an invoice from Commercial Seeding Contractors for silt fence removal
and installation in the natural environmental/park area, Invoice No. 4893 in the amount of Eight Hundred
Twenty-Eight and 50/100 Dollars ($828.50).
There was next presented correspondence from CBS Home Real Estate on behalf of Castle Creek
Development, LLC, developer of the District, requesting reimbursement for invoices paid as follows: (i)
Robert C. Nelson in the amount of Three Hundred Seventy and no/100 Dollars ($370.00); and (ii) Great
Plains Well Service, LLC, Invoice No. 3637 in the amount of One Hundred Twenty-Three and 81/100 Dollars
($123.81); said invoices being in the aggregate amount of Four Hundred Ninety-Three and 81/100 Dollars
($493.81).
Counsel for the District next informed the Board that the Clerk was entitled to $100.00 per month.
Payment was authorized for twelve (12) months, from September 1, 2006, through August 31, 2007, the
Clerk to receive the amount of One Thousand Two Hundred and no/100 Dollars ($1,200.00) less Ninety-
One and 80/100 Dollars ($91.80) to be withheld for income tax purposes; therefore payment to be made
to the Clerk in the amount of One Thousand One Hundred Eight and 20/100 Dollars ($1,108.20).
Counsel for the District next informed the Board that sums were to be placed in the Pansing Hogan
Ernst & Bachman LLP Trust Account for purposes of payment of tax on income received by the Clerk of the
District, said tax to be in the amount of Ninety-One and 80/100 Dollars ($91.80).
There was next presented a statement from Pansing Hogan Ernst& Bachman LLP, attorneys for the
District, for legal services rendered from September 1, 2006 through August 31, 2007, in the amount of
Fourteen Thousand Two Hundred Thirty and 39/100 Dollars($14,230.39); and costs advanced in the amount
of One Hundred Sixty-Seven and 46/100 Dollars ($167.46); said statement being in the aggregate amount of
Fourteen Thousand Three Hundred Ninety-Seven and 85/100 Dollars ($14,397.85).
There was next presented a statement from Metropolitan Utilities District for service at the 15505
Hartman Avenue location through August 8, 2007 in the amount of Two Hundred Eight and 73/100 Dollars
($208.73). The Board directed advance payment to be made in the amount of One Thousand Five
Hundred and no/100 Dollars ($1,500.00).
There were next presented statements from Metropolitan Utilities District for service at the 5310
North 153rd Avenue location through August 28, 2007 in the aggregate amount of Two Hundred Seventy-
Four and 27/100 Dollars ($274.27). The Board directed advance payment to be made in the amount of
One Thousand Five Hundred and no/100 Dollars ($1,500.00).
There was next presented a statement from Omaha Public Power District, for services related to
Account No. 6369592096 through August 29,2007 in the amount of Two Thousand Two Hundred Three and
27/100 Dollars ($2,203.27).
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. 501 of Douglas County, Nebraska,that the Chairman and Clerk be and
they hereby authorized and directed to execute and deliver Warrant Nos.
1430 through 1440 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 September 12,
2010, 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. 1430, for the amount of Three Hundred Thirty-Nine
and 72/100 Dollars ($339.72), payable to Todco Barricade Company.
Warrant No. 1431, for the amount of Eight Hundred Twenty-Eight
and 50/100 Dollars ($828.50), payable to Commercial Seeding Contractors.
Warrant No. 1432, for the amount of Four Hundred Ninety-Three
and 81/100 Dollars ($493.81), payable to Castle Creek Development, LLC.
Warrant No. 1433, for the amount of One Thousand One Hundred
Eight and 20/100 Dollars ($1,108.20), payable to Joyce A. Sramek.
Warrant No. 1434, for the amount of Ninety-One and 80/100
Dollars ($91.80), payable to the Pansing Hogan Ernst & Bachman LLP
Trust Account.
Warrant Nos. 1435 and 1436, each for the amount of Five
Thousand and no/100 Dollars ($5,000.00), and Warrant No. 1437, for the
amount of Four Thousand Three Hundred Ninety-Seven and 85/100
Dollars ($4,397.85), payable to Pansing Hogan Ernst& Bachman LLP.
Warrant No. 1438, for the amount of One Thousand Five Hundred
and no/100 Dollars ($1,500.00), payable to Metropolitan Utilities District,
Acct. No. 348564-1360107.
Warrant No. 1439, for the amount of One Thousand Five Hundred
and no/100 Dollars ($1,500.00), payable to Metropolitan Utilities District,
Acct. No. 348564-1360108.
Warrant No. 1440, for the amount of Two Thousand Two Hundred
Three and 27/100 Dollars ($2,203.27), payable to Omaha Public Power
District,Acct. No. 6369592096.
FURTHER RESOLVED by the Board of Trustees of Sanitary and
Improvement District No. 501 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. 501 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. 501 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.
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.
Joyce A. Sramek, as Clerk for Sanitary and Improvement District No. 501 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 September 12,2007, meeting.
as/ii4714J---2
JOYCE A. ' EK, Clerk