2010-12-07 SID 478 Minutes BELLI CO I:
1 l FEB24 8= 49
CITY C LF. MINUTES OF MEETING OF SANITARY AND
OMAHA. IEBRAS!\t' IMPROVEMENT DISTRICT NO. 478 OF
DOUGLAS COUNTY, NEBRASKA
A meeting of the Board of Trustees of Sanitary and Improvement District No. 478
of Douglas County, Nebraska, was convened in open and public session at 10:00 a.m. on
December 7, 2010, at 2120 South 72' Street, Suite 1200, Omaha, Nebraska. Present
were: Trustees Kenneth J. Hagen, Jr., Arlene V. Steier, David N. Steier, Katlin C. Steier
and M. John Steier; Absent: None. Also present was Robert J. Huck, Attorney for the
District.
Notice of the meeting was given in advance thereof by publication in The Daily
Record, Omaha, Nebraska, on November 16, 23 and 30, 2010, 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 then directed the Board's attention to Agenda Item No. 3, Attorney
Huck reported that a simultaneous notice of the hearing on the proposed special
assessments for the various projects outlined below on each separate piece of property
benefitted thereby in the District had been published as authorized by the Board at its
meeting held on September 15, 2010, (Proof of Publication of said Notice being attached
to these minutes); the Clerk certified that on November 16, 2010, the first publication date
of said notice, the County tax rolls did not reveal any owners of property within the
assessment district who were non-residents of this county other than those to whom notice
was mailed by Certified Mail, return receipt requested, and that handbills of said notice had
been posted along the lines of said improvements in the District, and that on
November 19, 2010, a copy of the notice had been mailed to each party appearing to have
an ownership interest in the District and that the required affidavit of such mailing had been
duly executed and filed (said certificate of posting and affidavit of mailing said notice being
attached to these minutes).
Minutes of Meeting of Board of Trustees December 7, 2010
SID No. 478 of Douglas County, Nebraska Page 2
It was then noted by Attorney Huck that, through inadvertence and mistake, the
required notice had not been sent to the City of Omaha and Kuehl Capital Corporation by
Certified Mail. It was therefore moved and seconded that the hearing on this special
assessment matter be adjourned until the Board's next meeting, with proper notice of this
adjournment given to all interested parties, including the City of Omaha and Kuehl Capital
Corporation by Certified Mail. On roll call on the foregoing resolution, the following
Trustees voted aye: Kenneth J. Hagen, Jr., Arlene V. Steier, David N. Steier, Katlin C.
Steier and M. John Steier; voting nay thereon were the following Trustees: None. The
Chairman then declared said resolution duly carried and adopted.
With respect to Agenda Item No. 4, Payment of Current 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. 478 of Douglas County, Nebraska,
that the Chairman and Clerk be and they hereby are
authorized and directed to execute and deliver Warrants Nos.
409 through 412, inclusive, of the District, dated the date of
this meeting, to the following payees and in the following
amounts, Warrant Nos. 409 through 411, inclusive, to be
drawn on the General Fund of the District and Warrant 412 to
be drawn on the Construction Fund Account of the District and
to draw interest at the rate of seven percent (7%) per annum
(interest to be payable on September 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 December 7, 2013)
1. Warrant No. 409 in the sum of $808.50, payable to
Omaha Public Power District, in payment of street light
service from 8/30/10 through 11/29/10 for account no.
4199549491.
2. Warrant No. 410 in the sum of $1,818.25 payable to
Thompson, Dreessen & Dorner, Inc., in payment of
Minutes of Meeting of Board of Trustees December 7, 2010
SID No. 478 of Douglas County, Nebraska Page 3
engineering services per Invoice Nos. 89320, 89596
and 89789.
3. Warrant No. 411 in the sum of $1,547.50, payable to
Croker, Huck, Kasher, DeWitt, Anderson &
Gonderinger, L.L.C., in payment of legal services and
costs per statements dated 10/26/10 and 11/29/10,
Account No. 469-000.
CONSTRUCTION FUND
(Due December 7, 2015)
4. Warrant No. 412 in the sum of $392.23, payable to
Croker, Huck, Kasher, DeWitt, Anderson &
Gonderinger, L.L.C., in payment of legal services and
costs per statements dated 10/26/10,Account No. 469-
001.
BE IT FURTHER RESOLVED by the Board of Trustees of
Sanitary and Improvement District No.478 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
Minutes of Meeting of Board of Trustees December 7, 2010
SID No. 478 of Douglas County, Nebraska Page 4
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.
BE IT FURTHER RESOLVED by the Board of Trustees of
Sanitary and Improvement District No.478 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)(ii) 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.478 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
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SID No. 478 of Douglas County, Nebraska Page 5
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
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 1.1482(b)(2) of the Income Tax
Regulations under the Internal Revenue Code of 1986, as
amended.
On roll call on the foregoing resolution, the following Trustees voted aye: Kenneth
J. Hagen, Jr., Arlene V. Steier, David N. Steier, Katlin C. Steier and M. John Steier; voting
nay thereon were the following Trustees: None. The Chairman then declared said
resolution duly carried and adopted.
There being no further business, a motion for adjournment was duly moved,
seconded and unanimously carried.
•
L)% ?rrnan
Arlene V. Steier, Clerk
00428961.WPD