Loading...
2007-09-12 SID 476 Minutes MINUTES OF MEETING 07 SEP 27 PM 3: 10 OF SANITARY AND IMPROVEMENT DISTRICT NO. 476 CITY CLERK OF DOUGLAS COUNTY, NEBRASKA O M A H A. N E G R A S K.A A meeting of the Board of Trustees of Sanitary and Improvement District No. 476 of Douglas County, Nebraska, was convened in open and public session at 9:00 a.m. on the 12th day of September, 2007, at 10250 Regency Circle, Suite 300, Omaha, Nebraska. - Present were: John C. Allen, Joyce A. Sramek, Jeanne D. Knox, Edward R. Young and Gerald L. Torczon. Absent: None. Notice of the meeting was given in advance thereof by publication in The Daily Record on • September 6, 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 next presented in accordance with the provisions of Neb. R.R.S. Section 77-1601.02, the publication concerning the Board of Trustees recommendation that the property tax request for tax year 2007-2008 be set at a different amount than the 2006-2007 tax request. The Clerk further reported that no person had appeared at the meeting in response to such hearing notice. The Clerk was directed to attach a copy of such notice to the minutes of these proceedings. After discussion and upon a motion duly made and seconded, and upon a roll call vote, the Trustees, John C. Allen, Joyce A. Sramek, Jeanne D. Knox, Edward R. Young and Gerald L. Torczon voted "Aye"with none voting "Nay"with the following resolution being thereby adopted and approved: RESOLVED, by the Board of Trustees of Sanitary and Improvement District No. 476 of Douglas County, Nebraska, that it is advisable that the property tax request for tax year 2007-2008 be set at a different amount than the 2006-2007 tax request as set out in the proof of publication attached hereto and incorporated herein by this reference, as follows: 2006=2007 Property Tax Request $ 571,604.88 2006 Tax Rate 0.880000 Property Tax Rate (2006-2007 Request/2007 Valuation) 0.722493 2007-2008 Proposed Property Tax Request $ 696,217.85 General Fund $316,462.66 Bond Fund $379,755.19 1 Proposed 2007 Tax Rate 0.880000 General Fund 0.400000 Bond Fund 0.480000 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. JOYCE A. SRAMEK, as Clerk for Sanitary and Improvement District No. 476 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 12,2007 meeting. vfr— JO CE MEK, Clerk = I �,/ ED MINUTES OF MEETING OF 07 SEP 27 P 1 3: l 0 SANITARY AND IMPROVEMENT DISTRICT NO.476 CITY CLERK OF DOUGLAS COUNTY, NEBRASKA O M A H p N E '.ASK A meeting of the Board of Trustees of Sanitary and Improvement District No. 476 of Douglas County, Nebraska, was convened in open and public session at 9:05 a.m. on the 12th day of September, 2007, at 10250 Regency Circle, Suite 300, Omaha, Nebraska. Present were: John C. Allen, Joyce A. Sramek, Jeanne D. Knox, Edward R. Young and Gerald L. Torczon. Absent: None. Notice of the meeting was given in advance thereof by publication in The Daily Record on - September 6, 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 reported in accordance with the provisions of Neb. R.R.S. Section 13-501 through 13- 513, the District's certified public accountants were directed to prepare a proposed budget and further that the Clerk attended to the required publication of notice with regard to the budgetary hearing to be held by the Board of Trustees. The Clerk had been directed to give the appropriate notices in accordance with the Nebraska Budget Act and that a budgetary hearing for the District be held on the 12th day of September, 2007, at 10250 Regency Circle, Suite 300, Omaha, Nebraska. The Clerk next presented the publication of this budgetary hearing as presented in The Daily Record. The Clerk next reported that such notice of the budgetary hearing along with a budget summary had been published in accordance with law. The Clerk further reported that it appeared that no person had appeared at the meeting in response to such notice of the budgetary hearing and the Clerk was directed to attach a copy of such notice to the minutes of these proceedings. After a lengthy discussion and upon a motion duly made and seconded, and upon a roll call vote, the Trustees, John C. Allen, Joyce A. Sramek, Jeanne D. Knox, Edward R.Young and Gerald L. Torczon,voted "Aye"with none voting "Nay"with the following resolution being thereby adopted and approved: RESOLVED, by the Board of Trustees of Sanitary and Improvement District No. 476 of Douglas County, Nebraska, that the budget and tax levy as tentatively set forth be adopted as the final budget and levy in accordance with Exhibit"A" attached hereto and by this reference made a part hereof. Further that the Clerk of the District be directed to file a copy of the adopted budget with the levying board of the State Auditor's office as well as certifying the levy to the Douglas County officials as well as attaching a proof of publication to such adopted budget. With the budget for the District having been adopted, the Chairman then stated that it would be appropriate at this time to levy the tax in accordance with the budget statement. After a full and complete discussion and upon a motion duly made and seconded, and upon the following roll call vote, the Trustees, John C. Allen, Joyce A. Sramek, Jeanne D. Knox, Edward R. Young and Gerald L. Torczon voted "Aye" with none voting "Nay"thereby passing and adopting the following resolution: RESOLVED, that Sanitary and Improvement District No.476 of Douglas County, Nebraska, levy and collect for the year 2007-2008 a tax of $0.880000 per One Hundred and no/100 Dollars ($100.00) actual valuation of taxable property in the District, except intangible property, said tax to be credited to the appropriate fund as indicated below: $0.400000 on each One Hundred and no/100 Dollars ($100.00) actual valuation to be credited to the General Fund of the District and thereby collect$316,462.66 in taxes to be credited to this fund; and $0.480000 on each One Hundred and no/100 Dollars ($100.00) actual valuation to be credited to the Construction (Bond) Fund of the District and thereby collect$379,755.19 in taxes to be credited to this fund. FURTHER RESOLVED, that the Clerk of this District be and hereby is directed to deliver and file with the County Clerk of Douglas County, Nebraska and the Auditor of Public Accounts, a copy of this resolution. There were next presented miscellaneous bills, invoices, statements, and recommendations for the Board's consideration. There was next presented a statement from Great Western Bank for registrar and paying agent services through September 15, 2007 with respect to the 2006 bond issue in the amount of Two Hundred Fifty and no/100 Dollars ($250.00). There was next presented a statement from E & A Consulting Group, Inc., engineers for the District for services rendered in construction-related matters through August 5, 2007, Invoice No. 16986 in the amount of Five Thousand One Hundred Fifty-Three and 50/100 Dollars ($5,153.50). There was next presented a statement from Pansing Hogan Ernst & Bachman LLP, attorneys for the District for legal services in construction-related matters in the amount of Two Hundred Sixty and no/100 Dollars ($260.00). The Chairman next directed the attention of the Board of Trustees to the fact that Ameritas Investment Corp. will purchase Five Thousand Six Hundred Sixty-Three and 50/100 Dollars ($5,663.50) in warrants at this time and that the contracted charge for such purchase of warrants is five percent (5%) or Two Hundred Eighty-Three and 17/100 Dollars ($283.17) in accordance with the financing agreement previously adopted by the Board. The Chairman recommended that the issuance of a warrant for such amount to Ameritas Investment Corp. There was next presented a statement from B &W Company, Inc. for street sweeping throughout the District, Invoice No. 9595 in the amount of Two Thousand Four Hundred Seventy-Five and no/100 Dollars ($2,475.00). There was next presented a statement from Thompson Electric Company of Omaha for service performed at 192nd and "F", Invoice No. 000022374 in the amount of Three Hundred Four and 21/100 Dollars($304.21). There was next presented a statement from Montemarano Landscapes Inc. in connection with the 2007 Park Maintenance (Whitehawk) project, Invoice No. 15206 in the amount of Three Thousand Ninety and no/100 Dollars ($3,090.00). There were next presented invoices from Mulhall's for landscaping services as follows: (i) Invoice No. SID0534-IN in the amount of Ten Thousand Four Hundred Thirty-One and 44/100 Dollars ($10,431.44); (ii) Invoice No. SID0544-IN in the amount of Two Thousand Eight Hundred Twenty-Four and 74/100 Dollars ($2,824.74); (iii) Invoice No. SID0545-IN in the amount of Three Thousand Two Hundred Seventy and no/100 Dollars ($3,270.00); (iv) Invoice No. SID0546-IN in the amount of Two Thousand Six Hundred Seventy-Six and 94/100 Dollars ($2,676.94); (v) Invoice No. SID0547-IN in the amount of Two Thousand Six Hundred Seventy-Six and 94/100 Dollars ($2,676.94); (vi) Invoice No. SID0548-IN in the amount of Nine Thousand Five Hundred Fifty-Two and 36/100 Dollars ($9,552.36); (vii) Invoice No. SID0549-IN in the amount of Two Thousand Six Hundred Thirteen and 42/100 Dollars ($2,613.42); (viii) Invoice No. SID0550- IN in the amount of Two Thousand Nine Hundred Forty-One and 17/100 Dollars ($2,941.17); (ix) Invoice No. SID0551-IN in the amount of Three Thousand Six Hundred Nineteen and 59/100 Dollars ($3,619.59);. (x) Invoice No. 0049356-IN in the amount of One Thousand Seven Hundred Seventy-Five and no/100 Dollars ($1,775.00); (xi) Invoice No. SID0560-IN in the amount of Two Thousand Six Hundred Fifty-Five and no/100 Dollars ($2,655.00); and (xii) Invoice No. SID0576-IN in the amount of Five Hundred and 76/100 Dollars ($500.76); said invoices being in the aggregate amount of Forty-Five Thousand Five Hundred Thirty- Seven and 36/100 Dollars ($45,537.36). There were next presented invoices from Turfbuilders Irrigation, Inc., for services as follows: (i) Invoice No. 07-14017 in the amount of Three Thousand Three Hundred Sixty-Eight and 64/100 Dollars ($3,368.64); (ii) Invoice No. 07-14300 in the amount of Two Hundred Twenty-Three and 68/100 Dollars ($223.68); (iii) Invoice No. 07-14389 in the amount of One Hundred Fifty and 65/100 Dollars ($150.65); (iv) Invoice No. 07-14507 in the amount of One Hundred Ten and 25/100 Dollars ($110.25); (v) Invoice No. 07- 14679 in the amount of Four Hundred Sixty-Eight and 95/100 Dollars ($468.95); (vi) Invoice No. 07-14733 in the amount of Four Hundred Forty-One and 09/100 Dollars ($441.09); and (vii) Invoice No. 07-14764 in the amount of Four Hundred Twenty-Six and 13/100 Dollars ($426.13); said invoices being in the aggregate amount of Five Thousand One Hundred Eighty-Nine and 39/100 Dollars ($5,189.39). Counsel for the District next informed the Board that the Clerk was entitled to $100.00 per month. Payment was authorized for twelve (12) months, from September 1, 2006, through August 31, 2007, the Clerk to receive the amount of One Thousand Two Hundred and no/100 Dollars ($1,200.00) less Ninety- One and 80/100 Dollars ($91.80) to be withheld for income tax purposes; therefore payment to be made to the Clerk in the amount of One Thousand One Hundred Eight and 20/100 Dollars ($1,108.20). Counsel for the District next informed the Board that sums were to be placed in the Pansing Hogan Ernst& Bachman LLP Trust Account for purposes of payment of tax on income received by the Clerk of the District, said tax to be in the amount of Ninety-One and 80/100 Dollars ($91.80). There was next presented a statement from Lutz & Company, PC, accountants for the District for completion of the annual budget document and progress bill related to the June 30, 2007 audited financial statement, Invoice No. 85562 in the amount of Two Thousand Six Hundred and no/100 Dollars ($2,600.00). There was next presented a statement from E &A Consulting Group, Inc., engineers for the District for miscellaneous engineering services rendered through July 22, 2007, Invoice No. 104131 in the amount of One Thousand One Hundred and 17/100 Dollars($1,100.17). There was next presented a statement from Pansing Hogan Ernst & Bachman LLP, attorneys for the District, for legal services rendered from September 1, 2006 through August 31, 2007, in the amount of Twenty-Three Thousand Two Hundred Eleven and 50/100 Dollars ($23,211.50); and costs advanced in the amount of One Hundred Thirty-Five and 60/100 Dollars ($135.60); said statement being in the aggregate amount of Twenty-Three Thousand Three Hundred Forty-Seven and 10/100 Dollars ($23,347.10). There were next presented statements from Omaha Public Power District with respect to Account No. 0854192562 for services through August 28, 2007 in the aggregate amount of Eight Thousand Eight Hundred and 85/100 Dollars ($8,800.85). 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.476 of Douglas County, Nebraska, that the Chairman and Clerk be and they hereby authorized and directed to execute and deliver Warrant Nos. 5177 through 5181 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 July 1 of each year) and to be redeemed no later than September 12, 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. 5177, for the amount of Two Hundred Fifty and no/100 Dollars($250.00), payable to Great Western Bank. Warrant No. 5178, for the amount of Five Thousand and no/100 Dollars ($5,000.00), and Warrant No. 5179, for the amount of One Hundred Fifty-Three and 50/100 Dollars ($153.50), payable to E & A Consulting Group, Inc. Warrant No. 5180, for the amount of Two Hundred Sixty and no/100 Dollars ($260.00), payable to Pansing Hogan Ernst & Bachman LLP. Warrant No. 5181, for the amount of Two Hundred Eighty-Three and 17/100 Dollars($283.17), payable to Ameritas Investment Corp. FURTHER RESOLVED, by the Board of Trustees of Sanitary and Improvement District No. 476 of Douglas County, Nebraska, that the Chairman and Clerk be and they hereby authorized and directed to execute and deliver Warrant Nos. 5182 through 5207 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 12, 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 Nos. 5182, for the amount of Two Thousand Four Hundred Seventy-Five and no/100 Dollars ($2,475.00), payable to B &W Company, Inc. Warrant No. 5183, for the amount of Three Hundred Four and 21/100 Dollars ($304.21), payable to Thompson Electric Company of Omaha. Warrant No. 5184, for the amount of Three Thousand Ninety and no/100 Dollars ($3,090.00), payable to Montemarano Landscapes Inc. Warrant Nos. 5185 through 5193, each for the amount of Five Thousand and no/100 Dollars ($5,000.00), and Warrant No. 5194, for the amount of Five Hundred Thirty-Seven and 36/100 Dollars ($537.36), payable to Mulhall's. Warrant No. 5195, for the amount of Five Thousand and no/100 Dollars ($5,000.00), and Warrant No. 5196, for the amount of One Hundred Eighty-Nine and 39/100 Dollars ($189.39), payable to Turfbuilders Irrigation, Inc. Warrant No. 5197, for the amount of One Thousand One Hundred Eight and 20/100 Dollars ($1,108.20), payable to Joyce A. Sramek. Warrant No. 5198, for the amount of Ninety-One and 80/100 Dollars ($91.80), payable to Pansing Hogan Ernst & Bachman LLP Trust Account. Warrant No. 5199, for the amount of Two Thousand Six Hundred and no/100 Dollars($2,600.00), payable to Lutz& Company, PC. Warrant No. 5200,for the amount of One Thousand One Hundred and 17/100 Dollars($1,100.17), payable to E&A Consulting Group, Inc. Warrant No. 5201 through 5204, each for the amount of Five Thousand and no/100 Dollars ($5,000.00), and Warrant No. 5205, for the amount of Three Thousand Three Hundred Forty-Seven and 10/100 Dollars($3,347.10), payable to Pansing Hogan Ernst& Bachman LLP. Warrant No. 5206, for the amount of Five Thousand and no/100 Dollars ($5,000.00), and Warrant No. 5207, for the amount of Three Thousand Eight Hundred and 85/100 Dollars ($3,800.85), payable to Omaha Public Power District, Acct. No.0854192562. FURTHER RESOLVED by the Board of Trustees of Sanitary and Improvement District No. 476 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. 476 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.476 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. • . 3 • • 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. There were next presented receipts from the Douglas County Treasurer's office representing deposits to the District's bond fund as follows: (i)from the City of Omaha Parks, Recreation & Public Power Department for reimbursement from the trail and boulevard portion of the Park Development Fund in the amount of Eighty-Six Thousand Three Hundred Sixty-Six and 03/100 Dollars ($86,366.03); and (ii) from E &A Consulting Group, Inc.for reimbursement for a double-payment of Invoice No. 16420 in the amount of Five Thousand Seven Hundred Ninety-Three and no/100 Dollars ($5,793.00); said receipts being in the aggregate amount of Ninety-Two Thousand One Hundred Fifty-Nine and 03/100 Dollars ($92,159.03). 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. JOYCE A. SRAMEK, as Clerk for Sanitary and Improvement District No.476 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 12,2007, meeting. ./ J CEty. K, lerk