2019-12-18 SID 473 Minutes MINUTES OF MEETING
s
OF
sip F-a
SANITARY AND IMPROVEMENT DISTRICT NO. 473 r;
OF DOUGLAS COUNTY, NEBRASKA
�i
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 8:00 a.m. on the 18th day of December,
2019, at 10250 Regency Circle, Suite 300, Omaha, Nebraska.
Present were: John C. Allen, Jeanne Knox, Jeffrey D. Krohn, and Dennis Nichols. Also, in
attendance was Jennifer Kobza, of Ameritas Investment Corp.
Absent: Patrick Pierce.
Notice of the meeting was given in advance thereof by publication in The Daily Record on
December 11, 2019, 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. Upon roll call, all of the above-referenced Trustees were present.
It was 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, engineers for the District,
presenting and recommending payment to the contract for Silt Basins #2, 3 and 16 Removal (Pine
Creek), in favor of Hausman Enterprises, Estimate No. 3, in the amount of Fifty-Seven Thousand Three
Hundred Thirty-Four and 50/100 Dollars ($57,334.50).
There was next presented correspondence from Lamp Rynearson, engineers for the District,
presenting and recommending payment in favor of Thiele Geotech, Inc, for testing services rendered in
connection with the project entitled Silt Basins #2, 3 and 16 Removal(Pine Creek), Invoice #68882, in
the amount of Two Thousand Six Hundred Seventy-Three and no/100 Dollars ($2,673.00).
There were next presented statements from Lamp Rynearson, engineers for the District, for
services rendered for the project entitled Silt Basins #2, 3 and 16 Removal(Pine Creek), as follows: (i)
Invoice #150, in the amount of Two Thousand Six Hundred Thirty-Seven and 38/100 Dollars ($2,637.38),
and (ii) Invoice #153, in the amount of One Thousand Seven Hundred Three and 24/100 Dollars
($1,703.24); said statements being in the aggregate amount of Four Thousand Three Hundred Forty and
62/100 Dollars ($4,340.62).
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 Three Thousand
Two Hundred Twenty and no/100 Dollars ($3,220.00).
There was next presented correspondence from Lamp Rynearson, engineers for the District,
presenting and recommending payment to the contract for Green Area Maintenance — Mowing 2019
(Pine Creek), in favor of Royal Lawns Inc., Estimate No. 7, in the amount of Two Thousand Fifty and
no/100 Dollars ($2,050.00).
There was next presented correspondence from Lamp Rynearson, engineers for the District,
presenting and recommending payment to the contract for Green Area Maintenance —
Landscapin_q 2019 (Pine Creek), in favor of Royal Lawns Inc., Estimate No. 7-REVISED, in the amount
of Five Thousand Eight Hundred Eighty-Five and no/100 Dollars ($5,885.00).
There was next presented a statement from One Call Concepts, Inc., for line locates within the
District, Invoice#9110611, in the amount of Thirty-Six and 54/100 Dollars($36.54). The Board was next
reminded that it has a credit balance in the amount of One Hundred One and 40/100 Dollars
($101.40), so no payment is due at this time.
There were next presented statements from Lamp Rynearson, engineers for the District, for
services rendered in miscellaneous District maintenance matters through November 16, 2019, as follows: (i)
Invoice #151, in the amount of One Thousand Three Hundred Ninety-Five and 06/100 Dollars ($1,395.06),
and (ii) Invoice #152, in the amount of One Thousand Fourteen and 77/100 Dollars ($1,014.77); said
statements being in the aggregate amount of Two Thousand Four Hundred Nine and 83/100 Dollars
($2,409.83).
There was next presented a statement from Pansing Hogan Ernst & Bachman LLP, attorneys for
the District, for legal services performed in miscellaneous District matters through November 30, 2019, in
the amount of One Thousand Ninety-Five and no/100 Dollars ($1,095.00), and costs advanced in the
amount of One Hundred Eight and 75/100 Dollars ($108.75); said statement being in the aggregate amount
of One Thousand Two Hundred Three and 75/100 Dollars ($1,203.75).
There were next presented statements from Omaha Public Power District, for Account No.
7027570510, from October 3, 2019 through December 4, 2019, in the aggregate amount of Twelve
Thousand Twenty-Nine and 55/100 Dollars ($12,029.55).
There was next presented a statement from Mr. Al's Enterprises, for mowing within the District, Job
#4562, in the amount of Two Thousand Three Hundred and no/100 Dollars($2,300.00).
The Clerk next directed the attention of the Board of Trustees to the fact that Ameritas Investment
Corp. will purchase Twenty-Five Thousand Eight Hundred Seventy-Eight and 13/100 Dollars($25,878.13) in
general fund warrants at this time and that the contracted charge for such purchase of warrants is five
percent (5%) or One Thousand Two Hundred Ninety-Three and 91/100 Dollars ($1,293.91) in accordance
with the financing agreement previously adopted by the Board. The Clerk recommended issuance of a
warrant in such amount to Ameritas Investment Corp.
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. 5857 through 5871 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 June 1 of each year) and to be redeemed no later than
December 18, 2024, 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. 5857 through 5867, each for the amount of Five
Thousand and no/100 Dollars ($5,000.00), and Warrant No. 5868, for the
amount of Two Thousand Three Hundred Thirty-Four and 50/100 Dollars
($2,334.50), payable to Hausman Enterprises.
Warrant No. 5869, for the amount of Two Thousand Six Hundred
Seventy-Three and no/100 Dollars ($2,673.00), payable to Thiele
Geotech, Inc.
Warrant No. 5870, for the amount of Four Thousand Three
Hundred Forty and 62/100 Dollars ($4,340.62), payable to Lamp
Rynearson.
Warrant No. 5871, for the amount of Three Thousand Two
Hundred Twenty and no/100 Dollars ($3,220.00), payable to Pansing
Hogan Ernst& Bachman LLP.
FURTHER 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. 5872 through 5881 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 December 18, 2022, 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. 5872, for the amount of Two Thousand Fifty and
no/100 Dollars ($2,050.00), payable to Royal Lawns Inc. (Green Area
Maintenance—Mowing 2019)
Warrant No. 5873, for the amount of Five Thousand and no/100
Dollars ($5,000.00), and.Warrant No. 5874, for the amount of Eight
Hundred Eighty-Five and no/100 Dollars ($885.00), payable to Royal
Lawns Inc. (Green Area Maintenance—Landscaping 2019)
Warrant No. 5875, for the amount of Two Thousand Four Hundred
Nine and 83/100 Dollars ($2,409.83), payable to Lamp Rynearson.
Warrant No. 5876, for the amount of One Thousand Two Hundred
Three and 75/100 Dollars ($1,203.75), payable to Pansing Hogan Ernst &
Bachman LLP.
Warrant Nos. 5877 and 5878, each, for the amount of Five
Thousand and no/100 Dollars ($5,000.00), and Warrant No. 5879, for the
amount of Two Thousand Twenty-Nine and 55/100 Dollars ($2,029.55),
payable to Omaha Public Power District, Account#7027570510.
Warrant No. 5880, for the amount of Two Thousand Three
Hundred and no/100 Dollars($2,300.00), payable to Mr. Al's Enterprises.
Warrant No. 5881, for the amount of One Thousand Two Hundred
Ninety-Three and 91/100 Dollars ($1,293.91), payable to Ameritas
Investment Corp.
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 $10,000,000 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.
Jen Kobza of Ameritas Investment Corp., the District's underwriter, made a presentation regarding
the possibility of refinancing certain outstanding general fund bonds of the District. She indicated that the
District had general fund bonds callable the first part of 2020, and that refinancing the bonds could save
approximately $860,000.00 over 20 to 21 years, with a reduction in interest rates of 1%. The Board directed
Ameritas Investment Corp. to proceed with pricing of the refinancing of such bonds. Counsel for the District
is to then send the pricing schedule to the Board Members electronically. The Board decided to schedule a
meeting at the end of January, first part of February to formerly authorize the refinancing of the District's
bonds, assuming that the payment schedules reflected the appropriate savings to the District.
Y "
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.
Jeanne D. Knox, 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 December 18, 2019, meeting.
cif/
A/-\—#-`17.
D. Knox, Clerk �