2007-09-27 SID 520 Minutes RFC FlVEl)
MINUTES OF MEETING
07 OCT -2 PI 3: 33
OF
SANITARY AND IMPROVEMENT DISTRICT NO. 520 CITY CI ERK
OF DOUGLAS COUNTY, NEBRASKA OMAHA. N E R R A?t ,t
A meeting of the Board of Trustees of Sanitary and Improvement District No. 520 of Douglas County,
Nebraska, was convened in open and public session at 9:00 a.m. on the 27th day of September, 2007, at
19111 West Center Road, Omaha, Nebraska.
Present were: David F. Lanoha, Jason P. Lanoha, Patricia A. Lanoha, Christopher D. Lanoha and
Kristina J. Carter.
Absent: None.
Notice of the meeting was .given in_advance thereof by, publication in The Daily Record on
September 13, and September 20, 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. Upon roll call, all of the Trustees were present.
The Chairman first 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 certified that notice of this meeting concerning the Sewer Connection Agreement with
Sanitary and Improvement District No. 303 of Douglas County, Nebraska, relating to the project entitled
Outfall Sewer, Section I (The Sanctuary) had been posted in three (3) conspicuous places within the District
with the Clerk causing to be filed a Certificate to that effect with a copy of the notice attached thereto, such
notice being attached to the minutes of these proceedings and by this reference made a part hereof.
The Clerk next stated that no petition opposing the proposed Resolution of Advisability and
Necessity had been filed by the property owners within the District or by any other person or entity and that no
person appeared at the meeting or made any objections to the proposed Resolution of Advisability and
Necessity with such being the same resolution adopted in form at the meeting of the Board of Trustees held
on September 5, 2007, which resolution is set forth in its entirety in the proof of publication attached hereto
and by this reference incorporated herein. After discussion of the Board, the following resolution was duly
moved and seconded and upon a roll call vote the Trustees, David F. Lanoha, Jason P. Lanoha,
Patricia A. Lanoha, Christopher D. Lanoha and Kristina J. Carter, voted "Aye"with none voting "Nay"thereby
passing and adopting the following resolution:
RESOLVED, by the Board of Trustees of Sanitary and Improvement District
No. 520 of Douglas County, Nebraska, that the Resolution of Necessity and
Advisability for the Sewer Connection Agreement with Sanitary and
Improvement District No. 303 of Douglas County, Nebraska, relating to the
project entitled Outfall Sewer, Section I (The Sanctuary) be ratified and
approved as proposed.
FURTHER RESOLVED, that the Chairman and Clerk be, and hereby are,
authorized and directed to take such steps as are necessary to implement
this resolution, including the execution of such agreement for and on behalf
of the District.
There were next presented miscellaneous bills, invoices, statements, and recommendations for the
Board's consideration.
The Board was next reminded that in accordance with the resolution of necessity adopted herein,
there is due to Sanitary and Improvement District No. 303, Douglas County, Nebraska, for the Sewer
Connection Agreement, in the amount of Seven Thousand Five Hundred and no/100 Dollars ($7,500.00).
There was next presented correspondence from E & A Consulting Group, Inc., engineers for the
District, presenting and recommending payment in favor of Thiele Geotech, Inc., for testing services
rendered in construction-related matters, Invoice #200, in the amount of Three Hundred Seventy-Six and
no/100 Dollars ($376.00).
There was next presented a statement to Pansing Hogan Ernst & Bachman LLP, attorneys for the •
District, for legal services performed in construction-related matters, in the amount of Three Hundred Ninety-
Five and no/100 Dollars($395.00).
The Clerk next directed the attention of the Board of Trustees to the fact that D.A. Davidson & Co.
will place Eight Thousand Two Hundred Seventy-One and no/100 Dollars ($8,271.00) in warrants at this time
and that the contracted charge for such placement of warrants is five percent(5%)or Four Hundred Thirteen
and 55/100 Dollars ($413.55) in accordance with the financing agreement previously adopted by the Board.
The Chairman recommended the issuance of a warrant for such amount to D.A. Davidson &Co.
There was next presented correspondence from E & A Consulting Group, Inc., engineers for the
District, presenting and recommending payment in favor of Douglas County Engineer, for the installation of
traffic control signage, Invoice dated September 18, 2007, in the amount of One Thousand Eight Hundred
Forty-Nine and no/100 Dollars ($1,849.00).
There was next presented a statement from Aaron Watterson, for professional accounting services,
Invoice dated September 1, 2007, in the amount of One Hundred Ten and no/100 Dollars ($110.00).
There was next presented a statement from E &A Consulting Group, Inc., engineers for the District,
for services rendered in miscellaneous District matters through September 2, 2007, Invoice #104408, in the
amount of Six Hundred Forty-Eight and 80/100 Dollars ($648.80).
There were next presented statements from Omaha Public Power District for services for Account
#3761143539, statements dated September 18, 2007, in the aggregate amount of Eight Hundred Eighty and
66/100 Dollars ($880.66)
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. 520 of Douglas County, Nebraska, that the Chairman and Clerk be and
they hereby authorized and directed to execute and deliver Warrant
Nos. 900 through 904 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 Construction Fund of the District and to draw interest at the rate of
seven percent (7%) per annum (interest to be payable on October 10 of
each year) and to be redeemed no later than September 27, 2012, 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. 900, for the amount of Five Thousand and no/100
Dollars ($5,000.00), and Warrant No. 901, for the amount of Two
Thousand Five Hundred and no/100 Dollars ($2,500.00), payable to
Sanitary and Improvement District No. 303, Douglas County, Nebraska.
Warrant No. 902, for the amount of Three Hundred Seventy-Six
and no/100 Dollars ($376.00), payable to Thiele Geotech, Inc.
Warrant No. 903, for the amount of Three Hundred Ninety-Five
and no/100 Dollars ($395.00), payable to Pansing Hogan Ernst& Bachman
LLP.
Warrant No. 904, for the amount of Four Hundred Thirteen and
55/100 Dollars ($413.55), payable to D.A. Davidson &Co.
FURTHER RESOLVED, by the Board of Trustees of Sanitary and
Improvement District No. 520 of Douglas County, Nebraska, that the
Chairman and Clerk be and they hereby authorized and directed to execute
and deliver Warrant Nos. 905 through 908 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 27, 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. 905, for the amount of One Thousand Eight Hundred
Forty-Nine and no/100 Dollars ($1,849.00), payable to Douglas County
Engineer.
Warrant No. 906, for the amount of One Hundred Ten and no/100
Dollars ($110.00), payable to Aaron Watterson.
Warrant No. 907, for the amount of Six Hundred Forty-Eight and
80/100 Dollars($648.80), payable to E&A Consulting Group, Inc.
Warrant No. 908, for the amount of Eight Hundred Eighty and
66/100 Dollars ($880.66), payable to Omaha Public Power District, Account
#3761143539.
FURTHER RESOLVED by the Board of Trustees of Sanitary and
Improvement District No. 520 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. 520 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. 520 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.
Jason P. Lanoha, .as Clerk for Sanitary and Improvement District No. 520 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 27,2007, meeting.
Ja P anoh Clerk