2007-09-06 SID 512 Minutes MINUTES OF A MEETING OF THE BOARD OF TRUSTEES RECEIVED
OF SANITARY & IMPROVEMENT DISTRICT NO. 512
OF DOUGLAS COUNTY, NEBRASKA Q7 SEP -7 AM 9: 20
ON SEPTEMBER 6, 2007
Pi CLERK
OM HA, NEBRASKA
A meeting of the Board of Trustees of Sanitary and Improvement District No. 512
of Douglas County, Nebraska, was convened in open and public session at 8:30 a.m.,
on September 6, 2007, at 2120 S. 72nd Street, Suite 1500, Omaha, Nebraska 68124.
Present were: John A. Mabrey
Carl J. Troia, Jr.
James H. Mabrey
Absent: Robert N. Troia
Cynthia A. Troia
Notice of the meeting was published in advance thereof by publication in The
Daily Record on August 28, 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 Acknowledgement of the Agenda was
communicated in the published notice and in the Notice of the Trustees of this meeting.
All proceedings of the Board were taken while the convened meeting was open to the
attendance of the public. All matters considered by the Board at this time were on the
Agenda prior to the commencement of this meeting, other than emergency matters.
The minutes herein were written and available for public inspection within ten (10)
working days or prior to the next convened meeting, whichever was earlier.
The last publication of the notice of this meeting was more than five (5) days prior
to the time set by the Board of Trustees for public hearing, as set forth in the Proof of
Publication.
John A. Mabrey acted as Chairman called the meeting to order. Also present
was Joseph L. Leahy, Jr. The following proceedings were had and done.
The Chairperson 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.
Motion was made by Carl J. Troia, Jr., to approve the minutes of the Board of
Trustees meeting held on July 30, 2007. The motion was seconded by John A. Mabrey,
and upon roll call vote of the trustees: John A. Mabrey, Carl J. Troia, Jr., and James H.
Mabrey, all voting aye, the following resolution was unanimously adopted:
RESOLVED, that the minutes of the Board of Trustees meeting
held on July 30, 2007, be and hereby are approved.
The Chairman next presented a statement from Slusky Law, LLC, dated August
13, 2007, in the sum of $1,768.39. The Chairman recommended payment of said
statement out of the District General Fund.
The Chairman next presented a statement from Thompson, Dreessen & Dorner,
Inc., dated August 9, 2007, in the sum of $636.98. The Chairman recommended
payment of said statement out of the District General Fund.
The Chairman next presented a statement from OPPD dated August 29, 2007, in
the sum of$380.62. The Chairman recommended payment of said statement out of the
District General Fund.
The Chairman then advised that Kuehl Capital Corporation, will directly place or
arrange for a third party to purchase or place $2,785.99 in warrants payable from the
General Fund of the District relating to Warrant Numbers 426 to 428, inclusive, and that
the charge for the purchase of said warrants in accordance with the Financing
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Agreement heretofore entered into between said fiscal agent and the District is in the
sum of$139.30.
Thereafter a motion was made by Carl J. Troia, Jr., and seconded by John A.
Mabrey, and upon roll call vote of the Trustees: John A. Mabrey, Carl J. Troia, Jr., and
James H. Mabrey, all voting aye, the following resolution was unanimously adopted:
RESOLVED THAT the Chairman and/or Clerk be and hereby are
authorized to execute and deliver 4 warrants on the District General Fund,
to the following payees and such warrants to be payable three (3) years
from the date of issuance, unless extended in accordance with the law,
and to draw interest at the rate of 7.0% per annum after the date of
presentment until paid:
426 09/6/2007 Slusky Law, LLC $1,768.39
427 09/6/2007 Thompson, Dreessen & Dorner, Inc. $636.98
428 09/6/2007 OPPD $380.62
429 09/6/2007 Kuehl Capital Corporation $139.30
The Chairman next presented an invoice from Thompson, Dreessen & Dorner,
Inc., dated August 9, 2007, in the sum of$134.79. The Chairman recommended
payment of said invoice out of the District Construction Fund.
The Chairman then advised that Kuehl Capital Corporation will directly place or
arrange for a third party to purchase or place $134.79 in a warrant payable from the
Construction Fund of the District relating to Warrant Number 430, and that the charge
for the purchase of said warrant in accordance with the Financing Agreement heretofore
entered into between said fiscal agent and the District is in the sum of $6.74.
Thereafter a motion was made by Carl J. Troia, Jr., and seconded by John A.
Mabrey, and upon roll call vote of the Trustees: John A. Mabrey, Carl J. Troia, Jr., and
James H. Mabrey, all voting aye, the following resolution was unanimously adopted:
RESOLVED, that the Chairman and/or Clerk of the District be and
hereby are, authorized to execute and deliver 2 warrants of the District,
No. 430 to 431, respectively, dated the date of this meeting to the
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following payees and in the following amounts, said warrants to draw
interest at 7.0 percent per annum, to be payable from the Construction
Fund account of the District (interest to be payable on April 1 of each
year), and to be redeemed no later than five years from the date hereof,
being September 6, 2012, subject to extension of said maturity date by
order of the District Court of Douglas County, Nebraska, after notice was
given as required by law, to-wit:
430 9/6/2007 Thompson, Dreessen & Dorner, Inc. $134.79
431 9/6/2007 Kuehl Capital Corporation $6.74
FURTHER RESOLVED by the Board of Trustees of Sanitary and
Improvement District No. 512 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. 512 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,
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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 $5,000,000.00 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. 512 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 Chairman advised that the proposed District Budget had been previously
filed with the District by Goracke, Ritterbush & Piotrowski, L.L.P., Accountants for the
District, and that the budget had been prepared previously providing a property tax
request for the Bond Fund of $0.000000 representing a tax rate of $0.000000 per
5
,
$100.00 valuation, and a property tax request for the General Fund of $62,500.00
representing a tax rate of $0.849428 per $100.00 valuation. The Chairman then
summarized the proposed District Budget and a discussion was had relating thereto.
Upon motion duly made by Carl J. Troia, Jr., and seconded by John A. Mabrey
and upon roll call vote of the trustees: John A. Mabrey, Carl J. Troia, Jr., and James H.
Mabrey, all voting aye, the following resolution was unanimously adopted:
RESOLVED, that the Board of Trustees of the District hereby
approve the Budget as proposed and that said budget be and hereby is
adopted. That the District Clerk be and hereby is authorized to execute
said budget on behalf of the District.
There was no old business and no new business to come before the meeting.
There being no further business to come before the meeting, the meeting was
adjourned.
7
Carl J. T ia, Jr., C k
Approved:
4/,Joh . Mabrey, Oman
6169-2#535400
6
MINUTES OF A MEETING OF THE BOARD OF TRUSTEES RECEIVED
OF SANITARY & IMPROVEMENT DISTRICT NO. 512
OF DOUGLAS COUNTY, NEBRASKA 07 S ° �,� 9: 2
ON SEPTEMBER 6, 2007
CITY CLERK
OMAHA, NEBRASKA
A meeting of the Board of Trustees of Sanitary and Improvement District No. 512
of Douglas County, Nebraska, was convened in open and public session at 8:45 a.m.,
on September 6, 2007, at 2120 S. 72nd Street, Suite 1500, Omaha, Nebraska 68124.
Present were: John A. Mabrey
Carl J. Troia, Jr.
James H. Mabrey
Absent: Robert N. Troia
Cynthia A. Troia
Notice of the meeting was published in advance thereof by publication in The
Daily Record on August 28, 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 Acknowledgement of the Agenda was
communicated in the published notice and in the Notice of the Trustees of this meeting.
All proceedings of the Board were taken while the convened meeting was open to the
attendance of the public. All matters considered by the Board at this time were on the
Agenda prior to the commencement of this meeting, other than emergency matters.
The minutes herein were written and available for public inspection within ten (10)
working days or prior to the next convened meeting, whichever was earlier.
The last publication of the notice of this meeting was more than five (5) days prior
to the time set by the Board of Trustees for public hearing, as set forth in the Proof of
Publication.
John A. Mabrey acted as Chairman called the meeting to order. Also present
was Joseph L. Leahy, Jr. The following proceedings were had and done.
The Chairperson 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 then advised that notice of the special public hearing had been
published at least five days prior to said hearing as reflected in the proof of publication
attached to these minutes.
The Chairman advised that the Board of Trustees was meeting for the primary
purpose for hearing support, opposition, criticism, or observations of taxpayers relating
to setting the final tax request at a different amount than the prior year tax request. The
Chairman advised that it is in the best interest of the District that the property tax
request for the current year be a different amount than the property tax request for the
prior year.
After review and discussion, a motion was made by Carl J. Troia, Jr., and
seconded by John A. Mabrey, and upon roll call vote of the Trustees, John A. Mabrey,
Carl J. Troia, Jr., and James H. Mabrey, all voting aye, the following resolution was
adopted:
BE IT RESOLVED by the Board of Trustees of Sanitary and
Improvement District No. 512 of Douglas County, Nebraska, that the
Board of Trustees does hereby set the property tax request and property
tax rates necessary to fund such tax request for the 2007-2008 year as
follows:
Property Tax Request Property Tax Rate
Bond Fund $0.00 $0.000000
General Fund $62,500.00 $0.849428
and that the 2007-2008 total property tax request be set at $62,500.00,
and that the Total Property Tax Rate be set at $0.849428.
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BE IT FURTHER RESOLVED, that the Clerk of the District is
hereby directed to certify and forward to the Saunders County Clerk a
copy of the minutes of this meeting containing the foregoing resolution
setting the property tax request and property tax rate at a different amount
than the prior year's property tax request and property tax rate, along with
a copy of the meeting agenda and notice of special hearing.
There was no old business and no new business to come before the meeting.
There being no further business to come before the meeting, the meeting was
adjourned.
j,0-42.1/
Carl J. Tra, Jr., Cle
Approved:
c-91v
Joh ,i . Mabrey, Chai man
6169-2#537573
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