2007-04-27 SID 473 Minutes CD
MINUTES OF MEETING ` t
OF .11 r.`t
SANITARY AND IMPROVEMENT DISTRICT NO. 473 • --
OF DOUGLAS COUNTY, NEBRASKA
-Si
A meeting of the Board of Trustees of Sanitary and Improvement District No.473 of Douglas County,
Nebraska, was convened in open and public session at 10:00 a.m. on the 27th day of April, 2007, at 13215
Birch Drive, Suite 103, Omaha, Nebraska.
Present were: Robert P. Horgan, Marjorie C. Horgan, Greg L. Nissen and Richard M. Pollock.
Absent: Donna M. Nissen.
Notice of the meeting was given in advance thereof by publication in The Daily Record on April 23,
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 Regency Center, 10250 Regency Circle, Suite 300, Omaha, Nebraska 68114.
The meeting was called to order by the Chairman. 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.
There were next presented miscellaneous bills, invoices, statements, and recommendations for the
Board's consideration.
There was next presented correspondence from Lamp, Rynearson &Associates, Inc., engineers for
the District, presenting and recommending payment in favor of Earthworks Excavating, Inc., for erosion
control maintenance, as follow: (i) Invoice #896, in the amount of Three Hundred Eighty-Four and 30/100
Dollars ($384.30), and (ii) Invoice#1085, in the amount of One Thousand Seven Hundred Fifteen and no/100
Dollars ($1,715.00); said statements being in the aggregate amount of Two Thousand Ninety-Nine and
30/100 Dollars ($2,099.30).
There were next presented statements from Jacobson Satchel) Consultants, for 2006 monitoring of
wetlands, as follows: (i) Invoice#14075, in the amount of One Thousand Seven Hundred Twenty and 96/100
Dollars ($1,720.96), (ii) Invoice #14124, in the amount of Nine Hundred Ninety-Two and 04/100 Dollars
($992.04), and (iii) Invoice #14169, in the amount of One Thousand Two Hundred Sixty-Two and 72/100
Dollars ($1,262.72); said statements being in the aggregate amount of Three Thousand Nine Hundred
Seventy-Five and 72/100 Dollars ($3,975.72).
There was next presented correspondence from Lamp, Rynearson &Associates, Inc., engineers for
the District, presenting and recommending payment in favor of Douglas County Engineer, for street sign
maintenance, Invoice dated April 4, 2007, in the amount of Three Hundred Eighteen and no/100 Dollars
($318.00).
There was next presented a statement from B & W Company, Inc., for street sweeping services
performed on March 20, 2007, Invoice#8997, in the amount of Six Thousand Five Hundred Twenty-Five and
no/100 Dollars ($6,525.00).
There was next presented a statement from Hancock & Dana, PC, accountants for the District, for
services rendered in connection with preparation of the final billing for 2006 audited financial statement and
budget, Invoice #29202, in the amount of Two Thousand Nine Hundred Fifty-Eight and no/100 Dollars
($2,958.00).
There were next presented statements from Lamp, Rynearson & Associates, Inc., engineers for the
District, for miscellaneous District matters through March 31, 2007, as follows: (i) Invoice #30154, in the
amount of One Thousand Eight Hundred Seventy-One and 15/100 Dollars ($1,871.15), (ii) Invoice#30290, in
the amount of One Thousand Two Hundred Eighteen and 02/100 Dollars ($1,218.02), and (iii) Invoice
#30428, in the amount of One Thousand Six Hundred Seventeen and 85/100 Dollars ($1,617.85); said
statements being in the aggregate amount of Four Thousand Seven Hundred Seven and 02/100 Dollars
($4,707.02).
There was next presented a statement from Pansing Hogan Ernst& Bachman LLP, attorneys for the
District, for legal services rendered in miscellaneous District matters through March 31, 2007, in the amount
of Four Thousand Two Hundred Seventy-Two and 50/100 Dollars ($4,272.50), and costs advanced in the
amount of One Hundred and 90/100 Dollars ($100.90); said statement being in the aggregate amount of
Four Thousand Three Hundred Seventy-Three and 40/100 Dollars($4,373.40).
There were next presented statements from Omaha Public Power District, for street lights at the
service location of 15700 Grebe Street, from January 29, 2007, through March 27, 2007, in the aggregate
amount of Five Thousand Five Hundred Ninety-Six and 49/100 Dollars($5,596.49).
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.473 of Douglas County, Nebraska, that the Chairman and Clerk be and
they hereby authorized and directed to execute and deliver Warrant
Nos. 3401 through 3410 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 April 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. 3401, for the amount of Two Thousand Ninety-Nine
and 30/100 Dollars ($2,099.30), payable to Earthworks Excavating, Inc.
Warrant No. 3402, for the amount of Three Thousand Nine
Hundred Seventy-Five and 72/100 Dollars ($3,975.72), payable to
Jacobson Satchell Consultants.
Warrant No. 3403, for the amount of Three Hundred Eighteen and
no/100 Dollars ($318.00), payable to Douglas County Engineer.
Warrant No. 3404, for the amount of Five Thousand and no/100
Dollars ($5,000.00), and Warrant No. 3405, for the amount of One
Thousand Five Hundred Twenty-Five and no/100 Dollars ($1,525.00),
payable to B&W Company, Inc.
Warrant No. 3406, for the amount of Two Thousand Nine Hundred
Fifty-Eight and no/100 Dollars ($2,958.00), payable to Hancock & Dana,
PC.
Warrant No. 3407, for the amount of Four Thousand Seven
Hundred Seven and 02/100 Dollars ($4,707.02), payable to Lamp,
Rynearson &Associates, Inc.
Warrant No. 3408, for the amount of Four Thousand Three
Hundred Seventy-Three and 40/100 Dollars ($4,373.40), payable to
Pansing Hogan Ernst& Bachman LLP.
Warrant No. 3409, for the amount of Five Thousand and no/100
Dollars ($5,000.00), and Warrant No. 3410, for the amount of Five Hundred
Ninety-Six and 49/100 Dollars ($596.49), payable to Omaha Public Power
District,Account#7027570510.
FURTHER RESOLVED by the Board of Trustees of Sanitary and
Improvement District No. 473 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. 473 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.473 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.473 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 April 27, 2007, meeting.
deated. )7,s
Donna M. Nissen, Clerk
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