Loading...
2007-10-02 SID 542 Minutes } ` l L III v L 1, MINUTES OF MEETING 07 OCT 22 PM 2: 59 OF SANITARY AND IMPROVEMENT DISTRICT NO. 542 CITY CLERK OF DOUGLAS COUNTY, NEBRASKA OMAHA, NF6RASKA A meeting of the Board of Trustees of Sanitary and Improvement District No. 542 of Douglas County, Nebraska, was convened in open and public session at 11:00 a.m. on the 2nd day of October, 2007, at 13215 Birch Drive, Suite 103, Omaha, Nebraska. Present were: Robert P. Horgan, Donna M. Nissen, Marjorie C. Horgan, Greg L. Nissen and Gregory C.Wiemers. Absent: None. Notice of the meeting was given in advance thereof by publication in The Daily Record on September 18 and September 25, 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 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 Interlocal Cooperation Agreement between The County of Douglas, Nebraska, Sanitary and Improvement District No.499 of Douglas County, Nebraska ("SID 499"), and the District, for cost sharing in connection with construction of State Street from approximately 130th Street to 136th Street and also 132"d Street from State Street extending south to Reynolds Street, 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 13, 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, Robert P. Horgan, Donna M. Nissen, Marjorie C. Horgan, Greg L. Nissen and Gregory C. Wiemers, 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. 542 of Douglas County, Nebraska,that the Resolution of Necessity and Advisability for the Interlocal Cooperation Agreement between The County of Douglas, Nebraska, Sanitary and Improvement District No.499 of Douglas County, Nebraska ("SID 499"), and the District, for cost sharing in connection with construction of State Street from approximately 130th Street to 136th Street and also 132"d Street from State Street extending south to Reynolds Street 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 was next presented Change Order No. 1 with regard to Storm Sewer Culverts, Section I (Cimarron Grove), which will result in an additional Thirty-Three Thousand Three Hundred Thirty-Four and 54/100 Dollars ($33,334.54) being added to the contract granted to M.E. Collins Contracting Co., Inc. After discussion by the Board, the following resolution was duly moved and seconded, and upon a roll call vote of the Trustees, Robert P. Horgan, Donna M. Nissen, Marjorie C. Horgan, Greg L. Nissen and Gregory C.Wiemers 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. 542 of Douglas County, Nebraska, that Change Order No. 1 to the Storm Sewer Culverts, Section I (Cimarron Grove) project resulting in an additional amount of $33,334.54 being added to the contract granted to M.E. Collins Contracting Co., Inc., be accepted and approved and that the Chairman and Clerk of the District be and they hereby are authorized and directed to execute Change Order No. 1 for and on behalf of the District. There were next presented miscellaneous bills, invoices, statements, and recommendations for the Board's consideration. The Clerk next presented to the Board the final estimate with regard to Storm Sewer Culverts, (Cimarron Grove)and its installation byM.E. Collins Contracting Co., Inc.,which recommended that Section I a final and complete payment be made in the total amount of Eighty-Three Thousand Nine Hundred Thirty-Nine and 21/100 Dollars ($83,939.21) with such being final payment and the final estimate for work the Certificate of Completion on such project. The Clerk also presented from the District's engineers, E & A Consulting Group, Inc., recommending that final payment and acceptance of such project be made by the District. Upon a motion duly made and seconded, and upon the following roll call vote, the Trustees, Robert P. Horgan, Donna M. Nissen, Marjorie C. Horgan, Greg L. Nissen and Gregory C.Wiemers 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. 542 of Douglas County, Nebraska, that the District's project entitled Storm Sewer Culverts, Section I (Cimarron Grove) be accepted as completed in accordance with recommendation of the District's engineers, E & A Consulting Group, Inc. and that final payment be made in the following scheduled amount: Contractor Amount M.E. Collins Contracting Co., Inc. $83,939.21 There were next presented statements from E &A Consulting Group, Inc., engineers for the District, for services rendered in construction-related matters through September 2, 2007, Invoice #17028, in the amount of Eight Thousand Three Hundred Sixty-Nine and 25/100 Dollars($8,369.25). There was next presented a statement from Pansing Hogan Ernst&Bachman LLP, attorneys for the District, for legal services performed in construction-related matters, in the amount of Four Thousand Six Hundred Twenty and no/100 Dollars ($4,620.00), and costs advanced in the amount of One Thousand One Hundred Sixty-Six and 60/100 Dollars ($1,666.60); said statement being in the aggregate amount of Five Thousand Seven Hundred Eighty-Six and 60/100 Dollars ($5,786.60). The Clerk next directed the attention of the Board of Trustees to the fact that D.A. Davidson & Co. will place Ninety-Eight Thousand Ninety-Five and 06/100 Dollars ($98,095.06) in warrants at this time and that the contracted charge for such placement of warrants is five percent (5%) or Four Thousand Nine Hundred Four and 75/100 Dollars ($4,904.75) 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 a statement from E &A Consulting Group, Inc., engineers for the District, for services rendered in miscellaneous District matters through September 2, 2007, Invoice #104413, in the amount of Seven Hundred Seventy-Four and 68/100 Dollars($774.68). The Clerk next directed the attention of the Board of Trustees to the fact that D.A. Davidson & Co., will place Seven Hundred Seventy-Four and 68/100 Dollars ($774.68) in warrants at this time and that the contracted charge for such placement of warrants is five percent (5%) or Thirty-Eight and 73/100 Dollars ($38.73) 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. 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. 542 of Douglas County, Nebraska, that the Chairman and Clerk be and they hereby authorized and directed to execute and deliver Warrant Nos.231 through 252 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 10th of each year) and to be redeemed no later than October 2, 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. 231 through 246, each for the amount of Five Thousand and no/100 Dollars ($5,000.00), and Warrant No. 247, for the amount of Three Thousand Nine Hundred Thirty-Nine and 21/100 Dollars ($3,939.21), payable to M.E. Collins Contracting Co., Inc. Warrant No. 248, for the amount of Five Thousand and no/100 Dollars ($5,000.00), and Warrant No. 249, for the amount of Three Thousand Three Hundred Sixty-Nine and 25/100 Dollars ($3,369.25), payable to E&A Consulting Group, Inc. Warrant No. 250, for the amount of Five Thousand and no/100 Dollars ($5,000.00), and Warrant No. 251, for the amount of Seven Hundred Eighty-Six and 60/100 Dollars ($786.60), payable to Pansing Hogan Ernst& Bachman LLP. Warrant No. 252, for the amount of Four Thousand Nine Hundred Four and 75/100 Dollars ($4,904.75), payable to D.A. Davidson &Co. FURTHER RESOLVED, by the Board of Trustees of Sanitary and Improvement District No. 542 of Douglas County, Nebraska, that the Chairman and Clerk be and they hereby authorized and directed to execute and deliver Warrant Nos.253 and 254 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 October 2, 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. 253, for the amount of Seven Hundred Seventy-Four and 68/100 Dollars ($774.68), payable to E&A Consulting Group, Inc. Warrant No. 254,for the amount of Thirty-Eight and 73/100 Dollars ($38.73), payable to D.A. Davidson&Co. FURTHER RESOLVED by the Board of Trustees of Sanitary and Improvement District No. 542 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. 542 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. 542 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. DONNA M. NISSEN, as Clerk for Sanitary and Improvement District No. 542 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 October 2, 2007, meeting. Donna M. Nissen, Clerk