City of Omaha Public Notices
City of Omaha Public Notices 
CITY PUBLIC NOTICES 7/3/19  07/03/19 12:20:34 PM

 

 

 

 

ORDINANCE NO. 41869

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA: ARTICLE I FINDINGS AND DETERMINATIONS The Mayor and Council of the City of Omaha (the "City") hereby find and determine: (a) The City, pursuant to Ordinance No. 41647, adopted on December 11, 2018, approved a Redevelopment Agreement ("Redevelopment Agreement") in connection with The Builder's District at NoDo Redevelopment Plan, as amended, which the City Council approved on October 30, 2018, pursuant to Resolution No. 949 (the "Redevelopment Plan"). The Redevelopment Agreement approved a redevelopment project consisting of property acquisition, demolition, remediation and relocation, as well as any costs required to remediate or prepare the property for development as necessary to develop the Kiewit Project (as defined in the Redevelopment Agreement), all as identified in the Redevelopment Plan (as used herein, the "Kiewit Project"). (b) The City has determined that as required by the ordinances previously adopted by the City in connection with its issuance of the Parity Bonds (as defined herein) as a condition to the issuance and sale of bonds or other obligations which have, or purport to have, any lien upon the Special Tax Revenues (as defined herein) which is on a parity with or is junior to the Parity Bonds, the Special Tax Revenues available for debt service for the fiscal year ending December 31, 2019 are at least 125% of the maximum annual debt service with respect to the Parity Bonds, the proposed Series 2019 Bond and all other parity indebtedness to be outstanding immediately after the date of issuance of the Series 2019 Bond. (c) The City, by authority of Section 18-2101.01, Reissue Revised Statutes of Nebraska, as amended, previously has created a community development agency consisting of the City's Planning Department for the purpose of exercising all of the power and authority granted to a community development authority in the Act (as hereinafter defined), and, having created an agency, the City is an authority under the Act, and has the power to issue bonds for its corporate purposes as provided by Section 18-2124 of the Act. (d) In order for the City to fund the Kiewit Project it is necessary, expedient and in the best interest of the City that the City, in such capacity and in its capacity as an authority under the Act, issue the Series 2019 Bond for the corporate purposes of the City, and of the City acting in its capacity as an authority, and to secure the payment of such Series 2019 Bond by the pledge of its Special Tax Revenues and subject to the conditions and limitations as hereinafter provided. ARTICLE II DEFINITIONS Unless the context shall clearly indicate some other meaning or may otherwise require, the terms defined in this Article shall, for all purposes of this Ordinance (the "Ordinance") and of any ordinance or other instrument amendatory hereof or supplemental hereto and of any certificate, opinion, instrument or other document herein or therein mentioned, have the meanings herein specified, with the following definitions to be equally applicable to both the singular and plural forms of any terms herein defined and vice versa. "Act" means Sections 18-2101 to 18-2154, inclusive, Reissue Revised Statutes of Nebraska, as amended. "Books of Registry" means the books of registry maintained by the Registrar. "Charter" means the Home Rule Charter of the City of Omaha, 1956, as amended. "City" means the City of Omaha, Nebraska. "Code" means the Internal Revenue Code of 1986, as amended, including the United States Treasury Regulations proposed or in effect with respect thereto and applicable to the Series 2019 Bond or the use of the proceeds thereof. "Construction Phase Interest Rate" means the short-term interest rate prior to Conversion as determined by the Finance Director in the Final Terms Certificate. "Conversion" means the satisfaction of the Condition to Conversion set forth in Section 3.14 hereof and the conversion of the Series 2019 Bond from the Construction Phase Interest Rate to the Permanent Phase Interest Rate. "Council" means the City Council of the City. "Debt Service" means, as of any particular date of computation, with respect to the Series 2019 Bond and with respect to any period, the aggregate of the amounts to be paid or set aside as of such date or in such period for the payment of the principal of and interest (to the extent not capitalized) on such Series 2019 Bond. "Finance Director" means the Finance Director of the City. "Fiscal Year" means the 12-month period established by the City or provided by law from time to time as its fiscal year and, as of the date of passage of this Ordinance, is the 12-month period commencing on January 1 of each year and ending on December 31 of such year. "Governmental Obligations" means direct obligations of, or obligations the principal of and the interest on which are unconditionally guaranteed by, the United States of America. "Maturity Date" means the fifteenth day of the month 24 months following the month in which the City receives the Notice of Conversion and the City confirms satisfaction of the Condition to Conversion. "Notice of Conversion" means a written notice to be delivered by the Purchaser to the City stating that the Condition to Conversion has been satisfied. "Outstanding," when used with reference to the Series 2019 Bond, means, as of any date, the Series 2019 Bond theretofore or thereupon issued pursuant to this Ordinance except: (a) any Series 2019 Bond cancelled by the Registrar or paid on or prior to such date; (b) a Series 2019 Bond in lieu of or in substitution for which the Series 2019 Bond shall have been or is thereupon being delivered; and (c) any Series 2019 Bond deemed to be no longer Outstanding hereunder as provided in Article VIII hereof. "Parity Bonds" means all bonds secured solely by the City's pledge of the Special Tax Revenues. "Permanent Phase Interest Rate" means, the fixed interest set by the Finance Director pursuant to Section 3.11 hereof as set forth in the Final Terms Certificate, which shall apply to the Series 2019 Bond effective ten (10) days after Conversion. "Purchaser" means Kiewit Corporation, a Delaware corporation, the sole purchaser and holder of the Series 2019 Bond. "Redevelopment Plan" means the redevelopment plan approved by the City of Omaha and described in Article I hereof. "Redevelopment Plan Area" has the meaning given such term in the Redevelopment Agreement. "Register" means the City Treasurer of the City of Omaha, acting as keeper of the Books of Registry hereunder. "Required Non-Kiewit Project" means an Additional Project (as defined in the Redevelopment Agreement) in the Redevelopment Plan Area containing a minimum of 100,000 gross square feet of Class "A" office space to be occupied primarily by one or more persons or entities other than Purchaser or its affiliates. "Series 2019 Bondholder" or "holder of a Series 2019 Bond” means any person who shall be the registered owner, or his or her duly authorized attorney-in-fact, representative or assign, of any Series 2019 Bond. "Series 2019 Bond” means the City of Omaha, Nebraska Special Tax Revenue Redevelopment Bond (Kiewit Project), Series 2019, issued pursuant to this Ordinance "Special Tax Revenues" means the proceeds of the special tax levied for community redevelopment purposes in the amount, not to exceed 2.6 cents on each $100 upon the actual value of all the taxable property in the City, except intangible property, annually certified to the Council by the City, in its capacity as an authority under the Act, pursuant to Section 18-2107(11) of the Act. "State" means the State of Nebraska. Unless the context shall clearly indicate otherwise or may otherwise require, in this Ordinance words importing persons include firms, partnerships, associations, corporations (public and private), public bodies and natural persons, and also include executors, administrators, trustees, receivers or other representatives. Unless the context shall clearly indicate otherwise or may otherwise require, in this Ordinance (not including in such term wherever used in this paragraph any ordinance supplemental hereto): (i) references to Articles, Sections and other subdivisions, whether by number or letter or otherwise, are to the respective or corresponding Articles, Sections and subdivisions of this Ordinance as such Articles, Sections and subdivisions may be amended from time to time; (ii) the terms "herein," "hereunder," "hereby," "hereto," "hereof' and any similar terms refer to this Ordinance and to this Ordinance as a whole and not to any particular section or subdivision hereof; and (iii) the term "heretofore" means before the time of effectiveness of this Ordinance, the word "now" means at the time of effectiveness of this Ordinance, and the word "hereafter" means after the time of effectiveness of this Ordinance. ARTICLE III AUTHORIZATION AND ISSUANCE OF SERIES 2019 BOND; GENERAL TERMS AND PROVISIONS Section 3.1. Authorization and Purpose of Series 2019 Bond. Under the authority of, and in full compliance with, the Constitution and laws of the State, including the Act and the Charter, there be and there is hereby ordered issued, for the corporate purposes of the City, and of the City as an authority under the Act, in the financing of the Kiewit Project and for other purposes related thereto as hereinafter provided, a single issue of Redevelopment Bonds of the City to be captioned as the "Special Tax Revenue Redevelopment Bond (Kiewit Project), Series 2019," in the aggregate principal amount, not to exceed $5,000,000. The Series 2019 Bond shall be in fully registered form without coupons, shall be dated its date of delivery, shall be of the denomination of the full principal amount of the Series 2019 Bond ("Authorized Denomination"), shall be numbered from R-1 upwards or shall be numbered in any other manner as the Finance Director of the City shall determine, shall bear interest from its date payable semiannually on January 15 and July 15 of each year until its payment at such rate or rates of interest per annum as shall be fixed by the Final Terms Certificate executed by the Finance Director at the time of sale of the Series 2019 Bond, and as further executed at Conversion (collectively, the "Final Terms Certificate") and shall mature as a single term bond on the Maturity Date and in the principal amount as shall be fixed by the Final Terms Certificate. The Purchaser of the Series 2019 Bond issued by this Ordinance shall provide a fully completed and signed investment letter in the form set forth in Exhibit A hereto and shall provide a subsequent investor letter at the time of Conversion. Section 3.2. Nature of Series 2019 Bond. The Series 2019 Bond shall be and is a special limited obligation of the City, and of the City in its capacity as an authority under the Act, and is secured solely by an irrevocable pledge of, and is payable solely as to principal, and interest from Special Tax Revenues and other funds as hereinafter provided without privilege, priority or distinction as to the lien on the Special Tax Revenues. There are hereby pledged to the punctual payment of the principal of, and interest on the Series 2019 Bond and to the security thereof in accordance with its terms and the provisions of this Ordinance, subject only to the provisions of this Ordinance restricting or permitting the application thereof for the purposes and on the terms and conditions set forth in this Ordinance, (i) the Special Tax Revenues and (ii) the moneys and Government Obligations, if any, deposited in the funds and accounts created hereunder, and any investment income therefrom. The Series 2019 Bond shall not in any event be a debt of the City (except in the City's capacity as its authority under the Act, of the Special Tax Revenues, and other moneys and securities pledged under this Ordinance), the State, or any of its political subdivisions and none of the City (except to the. extent of the aforesaid pledge), the State or any of its political subdivisions are liable on it, nor in any event shall the principal of, and interest on the Series 2019 Bond be payable out of any funds or properties other than those of the City, and of the City acting in its capacity as an authority under the Act, as in this Ordinance set forth. Neither the full faith and credit nor the taxing power of the City ( except to the extent of the aforesaid), the State or any of its political subdivisions is pledged hereby to secure the payment of the Series 2019 Bond. The Series 2019 Bond does not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. Neither any officials of the City nor any persons executing the Series 2019 Bond shall be liable personally on the Series 2019 Bond by reason of its issuance. The Series 2019 Bond shall be and is equally and ratably secured by an irrevocable pledge of Special Tax Revenues and other funds as provided herein. The validity of the Series 2019 Bond is not and shall not be dependent upon the performance by any person or persons of their obligations relative to the Kiewit Project. Nothing in this Ordinance shall preclude: (a) the payment of the Series 2019 Bond from the proceeds of refunding bonds issued pursuant to law or (b) the payment of the Series 2019 Bond from any legally available funds, including, without limitation, the proceeds of the sale of any property within the Redevelopment Plan Area. Nothing in this Ordinance shall prevent the City from making advances of its own funds, howsoever derived, to any of the uses and purposes mentioned in this Ordinance. Section 3.3. Payment of Series 2019 Bond. Principal of the Series 2019 Bond shall be payable upon presentation thereof at the principal office of the City in Omaha, Nebraska. Payment of interest on the Series 2019 Bond shall be made by the City to the registered owner thereof by wire transfer, check or draft mailed to the registered owner at his or her address as it appears on the Book of Registry on the record date or at such other address as is furnished to the City in writing by such registered owner. The date that is fifteen calendar days prior to each respective interest payment date shall be the record date for the payment of interest on such interest payment date. The Series 2019 Bond and the interest thereon shall be payable in coin or currency of the United States of America which at the time of such payment is legal tender for public and private debts. Section 3.4. Execution of Series 2019 Bond. The Series 2019 Bond shall be signed by the facsimile signature of the Mayor, countersigned by the facsimile signature of the City Clerk, registered by and with the facsimile signature of the City Comptroller of the City, and shall have imprinted thereon a facsimile of the seal of the City. If any City official whose facsimile signature appears on the Series 2019 Bond ceases to be such official before delivery of the Series 2019 Bond, his or her signature is as effective as if he or she had remained in office. Section 3.5. Form of Series 2019 Bond. The Series 2019 Bond, the Registrar's Certificate of Authentication and the instrument of assignment shall be in substantially the form set forth in this Section, with necessary or appropriate variations, omissions and other details thereof and of its form or as are otherwise permitted or required by law or by this Ordinance.

(FORM OF SERIES 2019 BOND)

United States of America

State of Nebraska

County of Douglas

City of Omaha

SPECIAL TAX REVENUE REDEVELOPMENT BOND

(Kiewit Project)

Series 2019

REGISTERED

No. l

MATURITY DATE: July 15, 2027 (as may be adjusted)

REGISTERED OWNER: KIEWIT CORPORATION

PRINCIPAL SUM: FIVE MILLION DOLLARS

The City of Omaha, a municipality in the County of Douglas and the State of Nebraska (the "City"), and, insofar as it relates to the Special Tax Revenues, for value received, hereby promises to pay to the Registered Owner (named above) or registered assigns, but solely from the Special Tax Revenues and other moneys and securities hereinafter mentioned and not otherwise, the Principal Sum (specified above) on the Maturity Date (specified above) (subject to the right of prior redemption hereinafter mentioned) upon presentation and surrender of this Bond at the principal office of the Treasurer of the City of Omaha acting as Registrar (the "Registrar"), and to pay interest on said Principal Sum, but solely out of said Special Tax Revenues and other moneys and securities hereinafter mentioned and not otherwise, by wire transfer, check or draft mailed to the person in whose name this Bond is registered as of the fifteenth calendar day prior to each interest payment date in the bond registration books kept and maintained by the Registrar, from the date hereof until the payment of said Principal Sum in full, at the Interest Rate(s) provided in the Ordinance, such interest to the maturity hereof being payable on January 15, 2020 and semiannually thereafter on January 15 and July 15 in each year. The principal of and interest on this Bond are payable in coin or currency of the United States of America which at the time of such payment is legal tender for payment of public and private debts. This Bond shall bear interest as provided in the Ordinance. REFERENCE IS MADE TO FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF; SUCH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS THOUGH FULLY SET FORTH AT THIS PLACE. The Bond issued under the Ordinance is a special limited obligation of the City and, insofar as it relates to the Special Tax Revenues, of the City acting in its capacity as an authority under the Act, payable as to principal and interest solely from and is equally and ratably secured solely by the Special Tax Revenues and other moneys and securities pledged under the Ordinance, all on the terms and conditions set forth in the Ordinance. Special Tax Revenues represent the proceeds of the special tax levied for community redevelopment purposes in the amount, not to exceed 2.6 cents on each $100 upon the actual value of all the taxable property in the City, except intangible property, annually certified to the City Council by the City, in its capacity as an authority under the Act, pursuant to Section 18-2107(11) of the Act. The pledge of the Special Tax Revenues is on a parity with those made by the City with respect to its Parity Bonds as defined in the Ordinance. The principal of and interest on the Bond shall not be payable from the general funds of the City, nor shall the Bond constitute a legal or equitable pledge, charge, lien, security interest or encumbrance upon any of the property or upon any of the income, receipts or revenues of the City, except the Special Tax Revenues and other moneys and securities pledged under the Ordinance. The Bond is not a debt of the City within the meaning of any constitutional, statutory or charter limitation upon the creation of general obligation indebtedness of the City nor does it impose any general liability upon the City, and the City shall not be liable for the payment thereof out of any funds of the City other than the Special Tax Revenues, which Special Tax Revenues have been and hereby are pledged by the City (acting in its capacity as an authority under the Act in the case of the Special Tax Revenues) to the punctual payment of the principal of and interest on this Bond in accordance with the provisions of the Ordinance. This Bond shall not be valid or obligatory unless the Certificate of Authentication herein shall have been manually signed by an authorized officer of the Registrar. It is hereby certified, recited and declared that all acts, conditions and things required to have happened, to exist and to have been performed precedent to and in the issuance of this Bond have happened, do exist and have been performed in regular and due time, form and manner, that this Bond does not exceed any constitutional or statutory or charter limitation on indebtedness and that provision has been made for the payment of the principal of and interest on this Bond as provided in the Ordinance. IN WITNESS WHEREOF, the City of Omaha, Nebraska, by its City Council, has caused this Bond to be signed by the facsimile signatures of its Mayor and its City Clerk and to be registered in the office of the City Comptroller by and with the facsimile signature of the City Comptroller, and to have a facsimile of its corporate seal to be imprinted hereon, all as of this _ day of _____, 2019.

(SEAL)

CITY OF OMAHA, NEBRASKA

By ________________________

Mayor of the City of Omaha

Countersigned:

By ______________________

City Clerk

Registered in the Office of the City Comptroller of the City of Omaha, Nebraska

By ____________________

City Comptroller

(FORM OF REVERSE OF BOND)

The Bonds shall be subject to optional and mandatory sinking fund redemption as provided in the Ordinance pursuant to which this Bond is issued. This Bond is a fully registered bond. This Bond shall be nontransferable. The City and the Registrar may treat the person in whose name this Bond is registered as the absolute owner hereof for the purpose of receiving payment hereof and for all other purposes and shall not be affected by any notice to the contrary, whether this Bond be overdue or not. This Bond is the only bond of an authorized issue in the principal amount of Five Million Dollars ($5,000,000) issued by the City, and in its capacity as an authority under the Act, under the authority of and in full compliance with the Constitution and statutes of the State of Nebraska, including particularly Reissue Revised Statutes of Nebraska, Sections 18-2101 to 18-2154, as amended (the "Act") and, in particular, Section 18-2124 of the Act, and the Home Rule Charter of the City, and under and pursuant to Ordinance No. __ duly passed by the Council of the City on ___, 2019 (the "Ordinance"). The Bond was issued for the purpose of financing the Kiewit Project (as defined in the Ordinance). This Bond constitutes a duly authorized issue of Redevelopment Bonds (herein referred to as the "Bond") issued, or to be issued, under and as provided in the Ordinance. Reference is hereby made to the Ordinance, copies of which are on file in the office of the Registrar, and to all of the provisions of which any holder of this Bond by his or her acceptance hereof hereby assents, for definitions of terms; the description of and the nature and extent of the security for the Bond issued under the Ordinance; the Special Tax Revenues and other moneys and securities pledged to the payment of the principal of and interest on the Bond issued thereunder; the nature and extent and manner of enforcement of the pledge; the conditions upon which bonds for the purpose of refunding may hereafter be issued thereunder, payable on a parity from the Special Tax Revenues and other moneys and securities and equally and ratably secured therewith; the conditions upon which the Ordinance may be amended or supplemented with or without the consent of the holders of the Bond; the rights, duties and obligations of the City thereunder; the terms and provisions upon which the liens, pledges, charges, trusts and covenants made therein may be discharged at or prior to the maturity or redemption of this Bond, and this Bond thereafter no longer be secured by the Ordinance or be deemed to be outstanding thereunder if moneys or certain specified securities shall have been deposited in an amount sufficient and held in trust solely for the payment hereof; and for the other terms and provisions thereof.

(FORM OF CERTIFICATE OF AUTHENTICATION)

CERTIFICATE OF AUTHENTICATION

This Bond is delivered pursuant to the within-mentioned proceedings.

CITY OF OMAHA, Treasurer, Registrar

By ________________

Authorized Officer

Dated: _______________

Section 3.6. Certificate of Authentication. Only such Series 2019 Bond as shall have endorsed thereon a Certificate of Authentication substantially in the form set forth in Section 3.5 hereto, duly manually executed by an authorized officer of the Registrar, shall be entitled to any right or benefit under this Ordinance. The Finance Director shall direct the Registrar to authenticate the Series 2019 Bond, and no Series 2019 Bond shall be valid or obligatory for any purpose unless and until such Certificate of Authentication endorsed the Series 2019 Bond shall have been manually executed by an authorized officer of the Registrar, and such executed Certificate shall be conclusive evidence that such Series 2019 Bond has been authenticated under this Ordinance. Section 3.7. [Reserved]. Section 3.8. [Reserved]. Section 3.9. Registration and Transfer of Series 2019 Bond. At all times while any Series 2019 Bond remains Outstanding and unpaid, the Registrar shall keep or cause to be kept at its principal corporate office Books of Registry for the registration of Series 2019 Bond. The Books of Registry shall at all times be open for inspection by the City or its duly authorized agent or representative. The Series 2019 Bond is nontransferable and shall only be owned by Purchaser as registered in the Books of Registry. Section 3.10. [Reserved]. Section 3.11. Private Placement of Series 2019 Bond; Delegation of Authority to Execute Final Terms Certificate; Transcript. This Council finds and determines and hereby declares that: (a) The placement of the Series 2019 Bond is to enable the completion of the Kiewit Project. The Purchaser desires to invest in the Kiewit Project by agreeing to purchase the Series 2019 Bond. (b) [Reserved]. (c) The Finance Director ( or the City Comptroller if the Finance Director is unable for any reason to exercise such authority) is authorized and directed to establish and designate on behalf of the City by the execution and delivery of the Final Terms Certificate(s), subject to the provisions of this Ordinance, the following terms in connection with the Series 2019 Bond: (1) the aggregate principal amount of the Series 2019 Bond to be issued, not exceeding the aggregate principal amount of $5,000,000, (2) the date or dates upon which the Series 2019 Bond shall be sold, (3) the rate or rates of interest to be carried by the Series 2019 Bond, ( 4) the method, if any, by which such rate or rates of interest shall be calculated and the first interest payment date and subsequent interest payment dates for the Series 2019 Bond, (5) the optional and mandatory sinking fund redemption dates and prices of the Series 2019 Bond and all terms relating thereto, and ( 6) the Maturity Date. (d) The Finance Director, the City Attorney, the City Clerk, the Comptroller and all other officials of the City are hereby authorized to take such action and execute such orders, receipts, opinions, certificates and other documents as may be necessary in order to effectuate the issuance, sale and delivery of the Series 2019 Bond or any portion and the preparation and execution of the Series 2019 Bond in accordance with this Ordinance and applicable law. It is also directed that a transcript shall be prepared of all proceedings on which rests the authority of the City to issue and sell the Series 2019 Bond. Section 3.12. Application of Bond Proceeds. The proceeds derived from the sale of the Series 2019 Bond shall be deposited in the Series 2019 Acquisition Fund created under Section 5.1 herein. Section 3.13. Refunding Bonds. The City, by means of a supplemental ordinance and without the consent of the Series 2019 Bondholder, may issue Refunding Bonds as follows: (a) Refunding Bonds may be issued for the purpose of refunding (including by purchase) within one year prior to maturity of the Series 2019 Bond for the payment of which sufficient Special Tax Revenues are not available. Any Refunding Bond issued for such purpose shall mature not earlier than the latest stated maturity of the Series 2019 Bond not refunded to be Outstanding after such refunding. (b) Refunding Bonds may be issued at any time for the purpose of refunding (including by purchase) at any time the Series 2019 Bond (in whole or in part), including amounts to pay principal, and interest to the date of maturity or redemption (or purchase) and the expenses of issuing the Refunding Bonds and of effecting such refunding, provided that the Debt Service on the Series 2019 Bond to be Outstanding after the issuance of the Refunding Bonds shall not be greater in any Fiscal Year in which the Series 2019 Bond (or a portion thereof) not refunded shall remain Outstanding than would have been the Debt Service in such Fiscal Year were such refunding not to occur. Section 3.14. Conversion. The City's obligation to repay the principal of the Series 2019 Bond and to pay the Permanent Phase Interest Rate on the Series 2019 Bond is conditioned upon and arises only if Noddle Development Company, Kiewit Corporation, or any affiliate thereof, causes footings and a foundation permit to be issued by the City for a Required Non-Kiewit Project and commences construction of such footings and foundation for the Required Non-Kiewit Project no later than July 15, 2024 (the "Condition to Conversion"). The City, in its reasonable discretion, shall determine whether the Condition to Conversion has been satisfied upon receipt of the Notice of Conversion. If the Notice of Conversion is not so issued, the City shall cancel the Series 2019 Bond and the City shall have no obligation to make any additional payments on the Series 2019 Bond and it shall be null and void and of no further force and effect. The date by which the Condition to Conversion shall be satisfied may be extended by the City in its sole and absolute discretion. If the City agrees to extend the date by which the Condition to Conversion shall be met, the City will have the right to restate the mandatory sinking fund redemption schedule attached to the Final Terms Certificate to reflect a later first principal payment, so long as the final mandatory sinking fund redemption payment occurs by the Maturity Date. ARTICLE IV REDEMPTION OF SERIES 2019 BONDS Section 4.1. Optional Redemption of Series 2019 Bond. Subject to the Final Terms Certificate and to Section 4.2 herein, the Series 2019 Bond shall' be subject to redemption prior to its stated maturity at the option of the City, at any time, in whole or in part. The Series 2019 Bond shall be subject to optional redemption in part in a minimum principal amount equal to $100,000 or any integral multiple of $5.00 in excess thereof. The Series 2019 Bond (or portion thereof) so called for redemption shall be redeemed at the price of par, plus accrued interest to the date fixed for redemption, with no redemption premium. In conjunction with the placement of the Series 2019 Bond pursuant to Section 3.11 hereof, the Finance Director is hereby authorized to negotiate, establish, fix and designate terms of the optional redemption of the Series 2019 Bond different from those hereinabove set out. Any such terms may provide for an initial optional redemption date of no later than the tenth anniversary of the date of issuance of the Series 2019 Bond. Section 4.2. Mandatory Sinking Fund Redemption of Series 2019 Bond. In conjunction with the placement of the Series 2019 Bond pursuant to Section 3.11 herein, the Finance Director is hereby authorized to negotiate, establish, fix and designate the terms providing for the mandatory sinking fund redemption of the Series 2019 Bond. The terms of such mandatory sinking fund redemption shall specify the principal amount and date of each mandatory sinking fund redemption. The mandatory sinking fund redemption price shall be par without premium. To the extent the Series 2019 Bond has been previously called for redemption in part and otherwise than from the sinking fund, if any, each related annual sinking fund payment for the Series 2019 Bond shall be reduced by the amount obtained by multiplying the principal amount of such Series 2019 Bond so called for redemption, by the ratio which each annual sinking fund payment for the Series 2019 Bond bears to the total sinking fund payments of the Series 2019 Bond, and by rounding each sinking fund payment to the nearest $5,000 multiple. Mandatory sinking fund redemptions of the Series 2019 Bond shall be made to the registered owner of the Series 2019 Bond without presentation for payment or notation. The remaining principal amount of the Series 2019 Bond Outstanding after any such partial redemption shall be as set forth on the Books of Registry of the Registrar. Section 4.3. Notice and Effect of Optional Redemption. If the Series 2019 Bond is to be redeemed, notice of redemption specifying the principal amount of the Series 2019 Bond to be redeemed and the date fixed for its redemption shall be mailed by the City, postage prepaid, not less than 30 days prior to the redemption date, by registered or certified mail, to the holder of the Series 2019 Bond to be redeemed in whole or in part in whose name such Series 2019 Bond is registered as of a record date which shall be 45 days prior to the redemption date, at his or her last address as it appears on the Books of Registry maintained by the Registrar. If less than the entire principal sum of the Series 2019 Bond is to be optionally redeemed pursuant to Section 4.1 herein, then the Series 2019 Bond must be surrendered in exchange for the amount thereof to be redeemed and a new Series 2019 Bond of like series, maturity and interest rate in the denomination equaling the remaining outstanding principal amount thereof not redeemed. When any of the aforesaid Series 2019 Bond shall have been called for redemption and notice thereof has been given as hereinabove set forth and payment thereof duly made or provided for, interest on the portion so called for redemption shall cease from and after the date so specified for its redemption. Mandatory sinking fund redemption shall be set forth in the Final Terms Certificate (as may be modified) and the Notice provisions in this Section 4.3 shall not apply to the scheduled redemptions. Section 4.4. Cancellation of Redeemed Series 2019 Bond. Any portion of the Series 2019 Bond surrendered or redeemed pursuant to the provisions of this Article shall be cancelled. ARTICLE V CREATION OF FUNDS AND ACCOUNTS; PAYMENTS THEREFROM; PLEDGES; INVESTMENT OF MONEYS Section 5.1. Creation of Funds. There are hereby created and established two special trust funds to be held by the Treasurer called (1) the "2019 Special Tax Redevelopment Acquisition Fund" (hereinafter called the "Acquisition Fund"); and (2) the "2019 Special Tax Redevelopment Bond Fund" (hereinafter called the "Bond Fund"), which funds shall be held by the Treasurer separately and apart from all other funds and moneys under its control. There are hereby created and established in the Bond Fund the following special trust accounts: (i) the Bond Interest Account and (ii) the Bond Principal Account. So long as any of the Series 2019 Bond herein authorized, or any interest therein, remains unpaid, the moneys in the foregoing funds and accounts shall be used for no purpose other than those required or permitted by the this Ordinance, any supplemental ordinance providing for the issuance of Refunding Bonds and the Act. Section 5.2. Acquisition Fund. The proceeds from the sale of the Series 2019 Bond shall be placed in the Acquisition Fund. The moneys transferred to and placed in the Acquisition Fund shall remain therein until used by the City solely for the purpose of reimbursing the City or Purchaser for any costs incurred by the City or Purchaser, or Purchaser's affiliates, for property acquisition, demolition, remediation and relocation, as well as any costs required to remediate or prepare property for development as identified in and pursuant to the Redevelopment Plan and other costs related thereto, and specifically including in such costs the cost of any lawful purpose in connection with the Kiewit Project and any costs of construction and installation with respect to the Kiewit Project incurred by the City (or by Purchaser, on behalf of the City), whether incurred prior to or subsequent to the adoption of this Ordinance. Purchaser shall be authorized to request reimbursement from the Acquisition Fund immediately following its establishment and through and until the full accomplishment of the objects and purposes for which the Series 2019 Bond was issued. If any sums remain in the Acquisition Fund after the full accomplishment of the objects and purposes for which the Series 2019 Bond was issued, the sums remaining shall be transferred to the Bond Fund and applied as are other moneys in such Fund. Section 5.3. Special Tax Revenues. As provided in the Redevelopment Plan, pursuant to Section 18-2107(11) of the Act, the City, in its capacity as an authority under the Act, is empowered annually to certify to the Council the amount of special tax to be levied for community redevelopment purposes. In such capacity, the City shall annually certify to the Council an amount of special taxes equal to the principal of and interest on the Series 2019 Bond and the Parity Bonds due in the Fiscal Year next succeeding the date of the certification, provided that such amount so certified shall not, in combination with any other such special tax certifications, exceed 2.6 cents on each $100 of taxable valuation. The City has covenanted in Section 6.5 of this Ordinance to comply with the requirements of the Act pertaining to the annual certification to the Council of the community redevelopment tax levy amount required to satisfy the debt service requirements of the Series 2019 Bond and the Parity Bonds. The Council is required by the Act to levy and collect the taxes so certified at the same time and in the same manner as other city taxes are levied and collected. The Special Tax Revenues are hereby pledged in their entirety to the payment of the principal of and interest on the Series 2019 Bond as in this Ordinance provided, on a parity with the Parity Bonds, and until all of the Series 2019 Bond and all interest therein have been paid (or until moneys for that purpose have been irrevocably set aside), the Special Tax Revenues, when due and as collected, shall be deposited in the Bond Fund relating to the Series 2019 Bond and the bond fund relating to any series of Parity Bonds, and shall be applied solely to the payment of the Series 2019 Bond and the Parity Bonds, as applicable, and the interest thereon as in this Ordinance provided and in the ordinances authorizing the issuance of the Parity Bonds. Such allocation and pledge are for the exclusive benefit of the holders of the Series 2019 Bond herein authorized and the Parity Bonds, and shall be irrevocable. Section 5.4. Bond Fund. The Special Tax Revenues accumulated in the Bond Fund shall be used in the following priority; provided, however, that, to the extent credits have been made in any of the accounts referred to below from the proceeds of the sale of the Series 2019 Bond or otherwise, the credits below need not be made: (a) Bond Interest Account. Credits shall be made into the Bond Interest Account so that the balance in said account on or before the date of the payment of any installment of interest on the Series 2019 Bond shall be equal to the amount due at such installment. Moneys in the Bond Interest Account shall be used for the payment of interest on the Series 2019 Bond as the same become due, and, after such payment, the account shall be restored by further deposits to the required balance. (b) Bond Principal Account. After the credits have been made pursuant to subparagraph (a) above, credits shall next be made into the Bond Principal Account so that the balance in said Account shall equal the next principal payment or payments, as the case may be, on or before the date of payment thereof on the then Outstanding Series 2019 Bond. Moneys in the Bond Principal Account shall be used for the payment of the principal of the Series 2019 Bond, as the same become due, and, after such payment, the account shall be restored by further credits to the required balance. Section 5.5. Investment of Moneys in Funds and Accounts; Moneys Held in Trust. Money in the Acquisition Fund, the Bond Interest Account and the Bond Principal Account in the Bond Fund shall, to the fullest extent practicable and reasonable, be invested and reinvested by the City, to the extent allowed by law solely in, and obligations deposited in such funds and accounts shall be, Government Obligations which shall mature or be subject to redemption at the option of the holder thereof on or before the respective dates when the moneys in such funds and accounts will be required for the purposes intended. Government Obligations purchased as an investment of moneys in any of the funds or accounts shall be deemed at all times to be a part of such fund or account, and the interest accruing thereon and any gain realized from such investment shall be credited to such fund or account, and any loss resulting from any such authorized investment shall be charged to such fund or account without liability to the City or the officials thereof; provided, however, that any investment earnings on moneys or Government Obligations held in any of the accounts in the Bond Fund shall be used to make up any deficiency in another account in the Bond Fund. The City shall sell at the best price obtainable or present for redemption any obligation so purchased whenever it shall be necessary to do so in order to provide moneys to meet any payment or transfer from a fund or account as required by this Ordinance. Until used and applied in accordance with this Ordinance, all moneys held in the Bond Fund, the Acquisition Fund, and the securities in which such moneys may from time to time be invested, shall be held in trust for the equal and ratable benefit and security of the holder of the Series 2019 Bond then Outstanding. ARTICLE VI COVENANTS OF THE CITY As long as the Series 2019 Bond is Outstanding and unpaid, the City will (through its proper officers, agents or employees) faithfully perform and abide by all the covenants, undertakings and provisions contained in this Ordinance or in the Series 2019 Bond issued hereunder, including the following covenants and agreements for the benefit of the Series 2019 Bondholder which are necessary, convenient and desirable to secure the Series 2019 Bond; provided, however, that said covenants do not require the City to expend any funds other than the Special Tax Revenues or violate the provisions of State law with respect to tax revenue sharing. Section 6.1. Complete Kiewit Project; Management and Operation of Properties. The City covenants that it has completed or will complete its portion of the Kiewit Project in accordance with the Act and the Redevelopment Agreement, and that it will cause all properties owned by it and comprising any part of the Kiewit Project to be managed and operated in a sound and businesslike manner. Section 6.2. Use of Proceeds. The City covenants and agrees that the proceeds of the sale of the Series 2019 Bond will be deposited and used as provided in this Ordinance or supplemental ordinances. Section 6.3. No Priority. The City previously issued and there remain outstanding, the Parity Bonds, which have a lien on the Special Tax Revenues on a parity with that of the Series 2019 Bond. The City covenants and agrees that it will not issue any additional obligations the principal of or interest on which is payable from the Special Tax Revenues which have, or purport to have, any lien upon the Special Tax Revenues prior or superior to the lien of the Series 2019 Bond herein authorized. Nothing in this Ordinance shall prevent the City from issuing and selling bonds or other obligations which have, or purport to have, any lien upon the Special Tax Revenues which is on a parity with the Series 2019 Bond herein authorized, provided that the Special Tax Revenues available for debt service for the fiscal year immediately preceding the date the lien of the Special Tax Revenues attaches with respect to such bonds or other obligations is at least 125% of the maximum annual debt service with respect to the Series 2019 Bond, such bonds or other obligations and all other parity indebtedness to be outstanding immediately after the date such lien attaches. Section 6.4. Community Development Agency. The City covenants and agrees that it has created a community development agency by authority of Section 18-2101.01 of the Act and ratifies and confirms actions heretofore taken to establish, and does hereby designate and establish, the Planning Department of the City to be and to continue as said community development agency of the City. In its capacity as said community development agency, the Planning Department shall cooperate fully with the City, acting as an authority under the Act, in the fulfillment of the City's undertakings pursuant to this Ordinance. Section 6.5. Certification of Community Redevelopment Tax Levy. The City, acting in its capacity as an authority under the Act, covenants and agrees to certify in July of each year to the Council the amount of tax to be levied in the current fiscal year for collection in the next succeeding fiscal year for community redevelopment purposes, including the amount required to defray the expense of the City, as an authority, in respect of the principal of and interest on the Series 2019 Bond and the Parity Bonds due and payable during such fiscal year, which amount of tax shall not exceed 2.6 cents on each $100 upon the actual value of all taxable property in the City, except intangible prope1iy, all as provided by Section 18-2107(11) of the Act. Section 6.6. To Pay Principal of and Interest on Series 2019 Bond. The City will duly and punctually pay or cause to be paid solely from the Special Tax Revenues and the other moneys which are pledged herein to the payment thereof, the principal of and interest on the Series 2019 Bond on the dates and at the places in the manner provided in such Series 2019 Bond, according to the true intent and meaning thereof, and will faithfully do and perform and fully observe and keep any and all covenants, undertakings, stipulations and provisions contained in the Series 2019 Bond and in this Ordinance. Section 6.7. Books of Account; Financial Statements. The City covenants and agrees that it will at all times keep, or cause to be kept, proper and current books of account (separate from all other records and accounts) in which complete and accurate entries shall be made of all transactions relating to the Kiewit Project, Special Tax Revenues and other funds relating to said project. Within 270 days after the close of each Fiscal Year, the City shall cause such books of account to be audited by an independent certified public accountant, which audit may be part of the annual audit of the accounts of the City. The audit report shall show in reasonable detail the income and expenses for such Fiscal Year relating to the Kiewit Project, including the transactions relating to the Bond Fund, and the Acquisition Fund. Section 6.8. Eminent Domain Proceeds. The City covenants and agrees that if all or any part of the Kiewit Project should be taken by eminent domain proceedings or other proceedings authorized by law for any public or other use under which the property will be exempt from ad valorem taxation, the net proceeds realized by the City therefrom (if any) will be deposited in the Bond Fund and used and applied for the purpose of paying principal of and interest on Series 2019 Bond as in this Ordinance provided. Section 6.9. Protection of Security. The City is duly authorized under all applicable laws to create and issue the Series 2019 Bond and to adopt this Ordinance and to pledge the Special Tax Revenues and other moneys, securities and funds under this Ordinance in the manner and to the extent provided in this Ordinance. The Special Tax Revenues and other moneys, securities and funds so pledged are and will be free and clear of any pledge, lien, charge, security interest or encumbrance thereon or with respect thereto prior to, or of equal rank (except the Parity Bonds) with, the pledge created by this Ordinance, except as otherwise expressly provided herein, and all corporate action on the part of the City to that end has been duly and validly taken. The Series 2019 Bond and the provisions of this Ordinance are and will be valid obligations of the City in accordance with their terms and the terms of this Ordinance. The City shall at all times, to the extent permitted by law, defend, preserve and protect the pledge of and security interest granted with respect to the Special Tax Revenues and other moneys, securities and funds pledged under this Ordinance and all the rights of the Series 2019 Bondholder under this Ordinance against all claims and demands of all persons whomsoever. Section 6.10. Extension of Payment of Series 2019 Bond. Subject to the provisions in Section 3 .14 hereof, the City will not directly or indirectly extend or assent to the extension of the maturity of the Series 2019 Bond or the time of payment of any interest thereon by the purchase or funding of such Series 2019 Bond or claims for interest or by any other arrangement, and, in case the maturity of the Series 2019 Bond or the time for payment of any interest thereon or claims for interest shall be extended, the Series 2019 Bond, interest or claims for interest shall not be entitled in case of any default under this Ordinance to the benefit of this Ordinance or to any payment or any assets of the City or the funds held by the Treasurer hereunder, except subject to the prior payment of the principal of the Series 2019 Bond issued and Outstanding the maturity of which has not been extended and of such portion of the accrued interest on the Series 2019 Bond as shall not be represented by such extended interest or claims for interest. Nothing herein shall be deemed to limit the right of the City to issue Refunding Bonds as provided in this Ordinance, and such issuance shall not be deemed to constitute an extension of maturity of the Series 2019 Bond. Section 6.11. [Reserved]. Section 6.12. [Reserved]. ARTICLE VII AMENDING AND SUPPLEMENTING OF ORDINANCE Section 7.1. Amending and Supplementing of Ordinance Without Consent of Holders of Series 2019 Bond. The City shall not amend or supplement this Ordinance except in accordance with Section 3.13 hereof, or in accordance with the provisions of this Article VII. The City may from time to time and without the consent of the holder of the Series 2019 Bond: (i) make any amendments or modifications hereto which may be required to permit this Ordinance to be qualified under the Trust Indenture Act of 1939, as amended; (ii) make any modification or amendment of this Ordinance not inconsistent herewith required for the correction of language or to cure any ambiguity or defective provision, omission, mistake or manifest error herein contained; (iii) make any amendments or supplements hereto to grant to or confer upon the Series 2019 Bondholder additional rights, remedies, power and authority, or to grant to or confer upon the Series 2019 Bondholder any additional rights, remedies, power or authority; (iv) provide for the use of a book-entry system of registration; and (v) provide for the issuance of coupon bonds. Section 7.2. Amendment of Ordinance With Consent of Holders of Series 2019 Bond. From time to time the holder of the Series 2019 Bond, by an instrument in writing signed by such holder and filed with the City, shall have power to assent to and authorize any modification or amendment that shall be proposed by the City of the provisions of this Ordinance or of the rights and obligations of the City and of the holder of the Series 2019 Bond, and any action herein authorized to be taken with the assent and authority given as aforesaid of the holder shall be binding upon the holder hereunder and upon the City as fully as though such action were specifically and expressly authorized by the terms of this Ordinance. Section 7.3. Effectiveness of Supplemental Ordinance. Upon the adoption (pursuant to this Article and applicable law) by the City of any supplemental ordinance amending or supplementing the provisions of this Ordinance or upon such later date as may be specified in such supplemental ordinance, (i) this Ordinance and the affected Series 2019 Bond shall be modified and amended in accordance with such supplemental ordinance, (ii) the respective rights, limitations of rights, obligations, duties and immunities under this Ordinance of the City and the holder of the Series 2019 Bond shall thereafter be determined, exercised and enforced under this Ordinance, subject in all respects to such modifications and amendments and (iii) all of the terms and conditions of any such supplemental ordinance shall be a part of the terms and conditions of the Series 2019 Bond and of this Ordinance for any and all purposes. ARTICLE VIII DEFEASANCE; MONEYS HELD FOR PAYMENT OF DEFEASED 2019 BOND Section 8.1. Discharge of Liens and Pledges; Series 2019 Bond Deemed To Be No Longer Outstanding Hereunder. If the City shall pay or cause to be paid to the owner of the Series 2019 Bond the principal and interest to become due thereon at the time and in the manner stipulated therein, and if the City shall keep, perform and observe all and singular the covenants and promises in the Series 2019 Bond and in this Ordinance expressed as to be kept, performed and observed by it or on its part, then these presents and the estate and rights hereby granted shall cease, determine and be void, and thereupon the lien of this Ordinance shall be cancelled and discharged without further action by the City and the Finance Director may apply any balances in any fund or account established hereunder, other than moneys held for the redemption or payment of the Series 2019 Bond, to any lawful purpose of the City as the Council shall determine. It is specifically understood and agreed that the release of the lien of this Ordinance shall not affect nor cancel the provisions of this Ordinance relating to the Series 2019 Bond issued or the rights of the owner of the Series 2019 Bond or the City, which provisions shall continue in full force and effect according to their terms. The City may at any time surrender to the Registrar for cancellation by it any Series 2019 Bond previously authenticated and delivered hereunder which the City may have acquired in any manner whatsoever, and such Series 2019 Bond, upon surrender and cancellation, shall be deemed to be paid and retired. For the purpose of this Ordinance, any Series 2019 Bond issued hereunder shall be deemed to be fully discharged and satisfied and no longer Outstanding when: (a) a Series 2019 Bond is cancelled whether by reason of payment or redemption prior to maturity; (b) a Series 2019 Bond is surrendered to the Registrar for cancellation; ( c) a Series 2019 Bond for which the payment of the principal of and all interest accrued and to accrue through the due date of payment (regardless of whether such due date arises by reason of maturity, upon redemption or by declaration as provided herein) has been made; such payment will be deemed to have been made when there have been deposited with an appropriate fiduciary institution acting as escrow agent sufficient moneys to make such payment or Government Obligations maturing, as to principal and interest, in such amount and at such times as will insure the availability of sufficient moneys to make any such payment and all necessary and proper fees, compensation and expenses of the escrow agent pertaining to such Series 2019 Bond with respect to which such deposit is made have either been paid or payment provided for to the satisfaction of the escrow agent; provided, however, no deposit of cash or Government Obligations shall constitute discharge and satisfaction as to any Series 2019 Bond to be redeemed prior to its maturity unless: (i) such Series 2019 Bond has been irrevocably called or designated for redemption on the first date thereafter on which such Series 2019 Bond may be redeemed in accordance with the provisions of Article IV of this Ordinance; and (ii) proper notice of the redemption of such Series 2019 Bond has been mailed as required by Article IV hereof, or irrevocable provision shall have been made for the mailing of such notice. At such time as a Series 2019 Bond shall no longer be deemed to be Outstanding hereunder, as provided in this Section, such Series 2019 Bond shall no longer be secured by or entitled to the benefits of this Ordinance except for the purpose of payment from the cash or Government Obligations deposited with and held by the escrow agent for such purpose. Moneys deposited with the escrow agent under this Section and the proceeds of any Government Obligations held under this Section may be invested and reinvested in Government Obligations which mature in the amounts and at the times required to comply with the provisions of this Section. Any income from such investments in excess of the requirements for principal of and interest on any Series 2019 Bond not being Outstanding under the provisions of this Section shall be paid to the City. If cash or Government Obligations shall have been deposited with the escrow agent in accordance with this Section, in trust for the purpose and sufficient and available to pay the principal of any Series 2019 Bond, together with all interest due thereon to the due date thereof or to the date fixed for the redemption thereof, all liability of the City for such payments shall terminate and be discharged, whether or not such Series 2019 Bond shall be presented for payment on the due date, whether at maturity or upon redemption or by declaration, and the escrow agent shall hold such moneys or Government Obligations without liability to the owner of such Series 2019 Bond for interest thereon, in trust for the benefit of the owner of such Series 2019 Bond, who thereafter shall be restricted exclusively to such moneys or Government Obligations for any claim for such payment of whatsoever nature on his or her part, except as is provided in Section 8.2 hereof. Section 8.2. Unclaimed Moneys. In the event the Series 2019 Bond shall not be presented for payment when the principal thereof becomes due, if funds sufficient to pay the Series 2019 Bond shall have been made available to the escrow agent for the benefit of the owner thereof, all liability of the City to the Series 2019 Bondholder for the payment of such Series 2019 Bond and the interest thereon shall forthwith cease, determine and be completely discharged and thereupon it shall be the duty of the escrow agent to hold such fund or funds, without liability for interest thereon, for a period of six years after the Series 2019 Bond shall have matured, for the benefit of the owner of the Series 2019 Bond, who shall thereafter be restricted exclusively to such funds for any claim of whatever nature on its part under this Ordinance or with respect to the Series 2019 Bond. At the expiration of such period, any unclaimed principal or interest shall be paid to the City and thereafter all claimants shall be restricted exclusively to making claim against the City for such. principal or interest. The City shall have no liability for interest on any such funds paid to it and shall not be required to hold such funds in trust nor to, in any manner, segregate such funds on its books. ARTICLE IX ENFORCEMENT OF ORDINANCE So long as the Series 2019 Bond is Outstanding, each of the obligations, duties, limitations and restraints imposed upon the City by this Ordinance shall be deemed to be a covenant between the City and the holder of the Series 2019 Bond, and this Ordinance and every provision and covenant hereof, the Act and the Charter shall constitute a contract of the City with the holder from time to time of the Series 2019 Bond. The holder of the Series 2019 Bond may, by mandamus or other appropriate suit, action or proceeding at law or in equity in any court of competent jurisdiction, enforce and compel performance of this Ordinance and every provision and covenant hereof, including, without limiting the generality of the foregoing, the enforcement of the performance of all duties required of the City by this Ordinance, by the Charter and by the Act and any other applicable laws of the State of Nebraska. ARTICLEX MISCELLANEOUS Section 10.1. Benefits of Ordinance Limited to the City and Holder of the Series 2019 Bond. With the exception of rights or benefits herein expressly conferred, nothing expressed or mentioned in or to be implied from this Ordinance or the Series 2019 Bond is intended or should be construed to confer upon or give to any person other than the City and the holder of the Series 2019 Bond any legal or equitable right, remedy or claim under or by reason of or in respect to this Ordinance or any covenant, condition, stipulation, promise, agreement or provision herein contained. This Ordinance and all of the covenants, conditions, stipulations, promises, agreements and provisions hereof are intended to be and shall be for, and inure to the sole and exclusive benefit of, the City and the holder from time to time of the Series 2019 Bond as herein and therein provided. Section 10.2. No Personal Liability. No officer or employee of the City shall be individually or personally liable for the payment of the principal of, or interest on the Series 2019 Bond. Nothing herein contained shall, however, relieve any such officer or employee from the performance of any duty provided or required by law. Section 10.3. Effect of Saturdays, Sundays and Legal Holidays. Whenever this Ordinance requires any action to be taken on a Saturday, Sunday or legal holiday, such action shall be taken on the first business day occurring thereafter. Whenever in this Ordinance the time within which any action is required to be taken or within which any right will lapse or expire shall terminate on a Saturday, Sunday or legal holiday, such time shall continue to run until midnight on the next succeeding business day. Section 10.4. Partial Invalidity. If any one or more of the covenants or agreements or portions thereof provided in this Ordinance on the pmi of the City to be performed should be determined by a court of competent jurisdiction to be contrary to law, then such covenant or covenants, or such agreement or agreements, or such portions thereof, shall be deemed severable from the remaining covenants and agreements or portions thereof provided in this Ordinance, and the invalidity thereof shall in no way affect the validity of the other provisions of this Ordinance or of the Series 2019 Bond, but the holder of the Series 2019 Bond shall retain all the rights and benefits accorded to it hereunder and under any applicable provisions of law. If any provisions of this Ordinance shall be held or deemed to be or shall, in fact, be inoperative or unenforceable or invalid as applied in any particular case in any jurisdiction or jurisdictions or in all jurisdictions, or in all cases because it conflicts with any constitution or statute or rule of public policy, or for any other reason, such circumstances shall not have the effect of rendering the provision in question inoperative or unenforceable or invalid in any other case or circumstance, or of rendering any other provision or provisions herein contained inoperative or unenforceable or invalid to any extent whatever. Section 10.5. Law and Place of Enforcement of This Ordinance. This Ordinance shall be construed and interpreted in accordance with the laws of the State of Nebraska. All suits and actions arising out of this Ordinance shall be instituted in a court of competent jurisdiction in the State of Nebraska, except to the extent necessary for enforcement, by any trustee or receiver appointed by or pursuant to the provisions of this Ordinance, of remedies under this Ordinance. Section 10.6. Effect of Article and Section Headings and Table of Contents. The headings or titles of the several Articles and Sections hereof, and any table of contents appended hereto or to copies hereof, shall be solely for convenience of reference and shall not affect the meaning, construction, interpretation or effect of this Ordinance. Section 10.7. Repeal of Inconsistent Ordinance. Any ordinance of the City, and any part of any ordinance or resolution inconsistent with this Ordinance, is hereby repealed to the extent of such inconsistency. [Remainder of Page Intentionally Left Blank] Section 10.8. Effectiveness of This Ordinance. The Series 2019 Bond is being issued to finance public improvements in connection with the Kiewit Project, each pursuant to the Act; this Ordinance is therefore declared to be administrative (not legislative) in character; and, under Section 2.12 of the City Charter and Rule VII of the Rules adopted by the City Council of the City of Omaha, this Ordinance shall become effective from and after its adoption.

 

First Reading June 11, 2019; Second Reading and Public Hearing June 18, 2019; Third Reading and Vote June 25, 2019

 

PASSED: June 25, 2019: 6-0

City of Omaha

Jean Stothert,

 Mayor

Elizabeth Butler,

City Clerk

 

7-3-19

______

______

CITY OF OMAHA
Notice is hereby given that the City Council of the City of Omaha met on June 25, 2019 and passed and approved the ordinances entitled:
 
ORDINANCE NO. 41864
AN ORDINANCE to amend the boundaries of the MCC-Major Commercial Corridor Overlay District, to incorporate into that district the property located at 617 and 707 North 204th Avenue Circle; and to provide for an effective date. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA: Section 1. In accordance with Sections 55-681 through 55-688 and 55-886 of the Omaha Municipal Code, the official zoning map adopted by Section 55-65 of the Omaha Municipal Code be, and the same hereby is, changed and amended so that: Lot 7, Menards Subdivision, a subdivision as surveyed, platted and recorded in Douglas County, Nebraska, are hereby rezoned to be included in and incorporated into the MCC-Major Commercial Corridor Overlay District; provided, that the base zoning district for such property shall not be changed by this ordinance. Lot 1, Menards Subdivision Replat 1, a subdivision as surveyed, platted and recorded in Douglas County, Nebraska, are hereby rezoned to be included in and incorporated into the MCC-Major Commercial Corridor Overlay District; provided, that the base zoning district for such property shall not be changed by this ordinance. Lot 2, Menards Subdivision Replat 2, a subdivision as surveyed, platted and recorded in Douglas County, Nebraska, are hereby rezoned to be included in and incorporated into the MCC-Major Commercial Corridor Overlay District; provided, that the base zoning district for such property shall not be changed by this ordinance. Section 2. This Ordinance shall be in full force and effect fifteen (15) days from the date of its passage.
 
First Reading June 11, 2019; Second Reading June 18, 2019; Third Reading, Public Hearing and Vote June 25, 2019
 
PASSED: June 25, 2019: 6-0
City of Omaha
Jean Stothert,
 Mayor
Elizabeth Butler,
City Clerk
 
7-3-19
______
 
ORDINANCE NO. 41865
AN ORDINANCE to amend the boundaries of the MCC-Major Commercial Corridor Overlay District, to incorporate into that district the property located at 1225 and 1303 North 205th Street; and to provide for an effective date. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA: Section 1. In accordance with Sections 55-681 through 55-688 and 55-886 of the Omaha Municipal Code, the official zoning map adopted by Section 55-65 of the Omaha Municipal Code be, and the same hereby is, changed and amended so that: Lot l, Skyline Country North, a subdivision as surveyed, platted and recorded in Douglas County, Nebraska, are hereby rezoned to be included in and incorporated into the MCC-Major Commercial Corridor Overlay District; provided, that the base zoning district for such property shall not be changed by this ordinance. Lot 4, Skyline Country North Replat No. 1, a subdivision as surveyed, platted and recorded in Douglas County, Nebraska, are hereby rezoned to be included in and incorporated into the MCC-Major Commercial Corridor Overlay District; provided, that the base zoning district for such property shall not be changed by this ordinance. Section 2. This Ordinance shall be in full force and effect fifteen (15) days from the date of its passage.
 
First Reading June 11, 2019; Second Reading June 18, 2019; Third Reading, Public Hearing and Vote June 25, 2019
 
PASSED: June 25, 2019: 6-0
City of Omaha
Jean Stothert,
 Mayor
Elizabeth Butler,
City Clerk
 
7-3-19
______
 
ORDINANCE NO. 41866
AN ORDINANCE to amend the official zoning map of the City of Omaha adopted by Section 55-65 of the Omaha Municipal Code, by changing certain boundaries of the official zoning map of the City of Omaha in accordance with Section 55-886 of the Omaha Municipal Code, to rezone property located at 2226 N Street from R7-Medium-Density Multiple-Family Residential District to NBD-Neighborhood Business District. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA: Section 1. The official zoning map adopted by Section 55-65 of the Omaha Municipal Code be, and the same hereby is, changed and amended in accordance with Section 55-886 of the Omaha Municipal Code so that: Lots 10-13, Block 113, South Omaha City Lots, a subdivision as surveyed, platted and recorded in Douglas County, Nebraska, is hereby rezoned from R7-Medium-Density Multiple-Family Residential District to NBD-Neighborhood Business District. Section 2. This Ordinance shall be in full force and effect fifteen (15) days from the date of its passage.
 
First Reading June 11, 2019; Second Reading June 18, 2019; Third Reading, Public Hearing and Vote June 25, 2019
 
PASSED: June 25, 2019: 6-0
City of Omaha
Jean Stothert,
Mayor
Elizabeth Butler,
City Clerk
 
7-3-19
______
 
ORDINANCE NO. 41867
AN ORDINANCE transferring funds from unencumbered balances in the 2018 General Fund Budget of the City of Omaha in accordance with Section 5.10 of the Home Rule Charter of the City of Omaha, 1956, as amended, and to fix the effective date hereof to be immediately upon passage in accordance with Section 2.12 of the Home Rule Charter of the City of Omaha, 1956, as amended. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA: Section 1. The following summary and transfer of funds is hereby made related to the 2018 Budget, General Fund of the City of Omaha: SUMMARY OF FINAL GENERAL FUND BALANCE Actual Revenues Under Budget $(2,794,978) Actual Expenditures Under Budget 4,912,802 Prior Year Encumbrances 1,704,346 Year End Transfers 1,928,057 Net General Fund Balance Carried Forward to 2020 $5,750,227 Fund Number Name Increase (Decrease) 21114 Golf Fund $50,000 21113 Tennis Fund 25,000 21108 Citywide Sports Fund 25,000 11113 Cash Reserve Fund 100,000 21116 Parking Fund (2,000,000) 12122 FEMA Fund (128,057) 11111 General Fund 1,928,057 Total Appropriation Adjustments $0 Section 2. This Ordinance shall be in full force and take effect immediately upon passage under and by virtue of the authority granted by Section 2.12 of the Home Rule Charter of the City of Omaha, 1956, as amended.
 
First Reading June 11, 2019; Second Reading and Public Hearing June 18, 2019; Third Reading and Vote June 25, 2019
 
PASSED: June 25, 2019: 6-0
City of Omaha
Jean Stothert,
Mayor
Elizabeth Butler,
City Clerk
 
7-3-19
______
 
ORDINANCE NO. 41868
AN ORDINANCE to amend Sections 23-177, 23-402, 23-403, 23-404, 23-507, 22-32 of the Omaha Municipal Code to reflect changes for the Administrative and Executive
Classifications for the years 2018, 2019, and 2020; to provide that any ordinances of the
City of Omaha, and any rules and regulations promulgated thereunder, which are in
conflict with this ordinance shall not be applicable to those employees in Administrative
and Executive Classifications; and to provide the effective date hereof.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA:
Section 1. Due to the length of the effected ordinances, Omaha City Council Rule VII(B)
requiring amending ordinances to recite the entire section is hereby waived solely for the
purposes of Section 2 of this ordinance and only the lined out material to be deleted and the
underlined material to be added shall be recited herein.
Section 2. That Section 23-177 of the Omaha Municipal Code is hereby amended as
follows:
Sec. 23-177. Classifications and pay rates schedule.
The following are the classifications and pay rates for employment with the city.
AA. CLASSIFICATIONS--ADMINISTRATIVE AND EXECUTIVE
2013 SALARIES: Effective December 23, 2012. (0 percent increase over 2012 salaries) See attached Table identified as “Attachment #1.” Each employee shall be paid a lump sum wage supplement equal to 1 percent of the employee’s 2013 non-overtime earning for all employees that remain on the active employee payroll on March 1, 2015. This wage supplement shall not be a pensionable earning and no pension withholding or pension contributions will be made from it. 2014 SALARIES: Effective December 22, 2013. (3% percent increase over 2013 salaries) See attached Table identified as “Attachment #2.” 2015 SALARIES: Effective December 21, 2014. (2% percent increase over 2014 salaries) See attached Table identified as “Attachment #3.” 206 SALARIES: Effective December 20, 2015. (2% percent increase over 20115 salaries) See attached Table identified as “Attachment #4.” 2017 SALARIES: Effective December 18, 2016. (2% percent increase over 2016 salaries) See attached Table identified as “Attachment #5.” 2018 SALARIES. Effective December 17. 2017 (3% increase over 2017 salaries} See attached Table identified as "Attachment #1." 2019 SALARIES. Effective December 16. 2018 (3% increase over 2018 salaries} See attached Table identified as "Attachment #2." 2020 SALARIES. Effective December 15, 2019 (3% increase over 2019 salaries} See attached Table identified as "Attachment #3." Section 3. That Section 23-402 of the Omaha Municipal Code is hereby amended as follows: Sec. 23-402. - City's contribution generally; premium. The city shall provide a group health care plan for each employee and covered dependents. Such employees may elect their health insurance coverage as follows: single coverage, single + 1 coverage, or family coverage. Employees selecting single + 1 coverage shall pay two times the single COBRA rate for their premium. Effective December 26, 2010, all current and newly hired CMPTEC and AEC employees shall pay a premium for this health care plan of six percent of the applicable COBRA rate. Police management employees shall pay a premium for this health care plan of six percent of the applicable COBRA rate. Effective December 25, 2011, all current and newly hired police management, CMPTEC, AEC employees and effective 30 days after legal execution of Ordinance No. 39422, fire management, shall pay a premium for this health care plan of seven percent of the applicable COBRA rate. Effective December 15, 2019, all current and newly hired AEC employees shall pay a premium for their health care plan based on the blended health care premium equivalency rate, using the experience of both active and retired civilian employees, of ten percent of the applicable COBRA rate. Effective upon adoption of the ordinance approving the agreement between the city and the Police Manager's Association for 2018 through 2021, all current and newly hired police management employees shall pay a premium for their health care plan based on the blended health care premium equivalency rate of the members of the plan to which members of the Omaha Police Officer's Association are a part of in the following amounts: Family: 23 percent; Single + 1: 23 percent; and Single: 15 percent. All employees newly hired with the city shall have a one-year waiting period on any preexisting condition(s) unless such employee presents to the city evidence that he/she had, with a previous employer, continuous health coverage without a break in service of 63 days within the last 18 months prior to his/her employment with the city. Section 4. That Section 23-403 of the Omaha Municipal Code is hereby amended as follows: Sec. 23-403. - Health care benefits. A. Health care benefits for CMPTEC, AEC until December 31, 2019, and fire management employees. (a) The health care plan provided herein shall be set forth in the master contract on file with and administered by the city's third party administrator or health insurance provider. The city shall provide employees with a written summary of the health care benefits herein. Such health care coverage shall commence on the first day of employment. (b) The health care benefits shall include, without limitation: (1) Effective June 19, 2001, comprehensive major medical health care coverage with 70 percent paid by the city and 30 percent paid by the employee on all covered charges, unless the health care services are provided by a preferred provider organization (PPO), in which case the city shall pay 80 percent and the employee shall pay 20 percent of the covered charges. (2) For CMPTEC, AEC, and fire management, a deductible of $400.00 for an individual with single coverage, $400.00/per individual with single + 1 coverage, or $800.00 aggregate for family coverage; deductible will apply to all covered services. (3) There is no maximum lifetime benefit per individual, but there remains a $20,000.00 maximum lifetime benefit for chemical dependency. (4) For CMPTEC, AEC, and fire management, stop loss (maximum cost to the employee for covered medical service in a calendar year) of $1,000.00 for a person with single coverage, $1,000.00 per individual with single + 1 coverage, or $2,000.00 aggregate for family coverage, all per year. The deductible applies to the stop loss. (5) Effective June 19, 2001, the following items shall be excluded from coverage: a) elective corrective eye surgery (such as RK, PRK, Lasik, and its successors) and b) all fertility procedures and fertility drug coverage.   (6) For CMPTEC employees, AEC employees, and fire management employees, the city will institute a wellness program where the city will allow coverage up to $200.00 for each covered individual for preventative services of well-baby exams, routine physicals, school physicals, annual well woman examinations, routine colonoscopies, routine mammograms, immunizations, pap smears. Such coverage shall be handled through the city's health care provider in a manner similar to covered benefits under the health care plan, including application of any amounts to be paid against the covered individual's deductibles. After such coverage is met on any of these listed preventive services, any further preventative services are subject to the normal deductible and coinsurance under the health care plan. (7) Hospital precertification. All inpatient admissions must be certified. Planned admission, or as soon as medically possible. The penalty for failure to certify is $500.00 of in-hospital charges. The penalty for hospitalization past certified number of days is a reduction of coverage by 50 percent of both physician and hospital charges. All inpatient admissions must be precertified as above. Hospitalizations beyond the certified number of days must be recertified. If the hospitalization is recertified, there is no penalty. The penalty for hospitalization past the certified number of days is a reduction by 50 percent of both physician and hospital covered charges, which will not be paid by the city and will be the responsibility of the employee. (8) Any disputes regarding precertification or recertification in a particular case may be presented to the city's disputes committee. (9) For CMPTEC employees, and AEC employees that voluntarily participate and follow the rules of the city wellness program, they will be eligible for city-specified incentives, including but not limited to, reductions in health insurance premiums, waiving of health insurance copays for specified medical facilities, gift cards, gym memberships, etc. No employee is required to participate in the wellness program and the city maintains the absolute right to set forth the terms and conditions surrounding the program. B. Health care for police management employees. (a) Police management employees will have the same high deductible healthcare plan (HDHP) that is being implemented for police bargaining employees effective January 1, 2018. If the city negotiates a new health care plan with the Omaha Police Officers Association during the term of this agreement, then the police management group will have the ability to inform the city that they want to move to the same plan and the city shall do so. The health care plan provided herein shall be set forth in the summary plan description on file with and administered by the city's third party administrator or health insurance provider. The city shall provide employees with a written summary of the health care benefits herein. Such health care coverage shall commence on the first day of employment. (b) The health care benefits shall include, without limitation: (1) In-patient hospital precertification: All in-hospital admissions must be certified. Planned admissions must be certified in advance. Emergency admissions must be certified within 24 hours of admission or as soon as medically possible. The penalty for failure to certify is $500.00 of the hospital charges. Hospitalizations beyond the certified number of days must be recertified. If the hospitalization is recertified, there is no penalty. The penalty for hospitalization past certified number of days without recertification is a reduction by 50 percent of both physician and hospital charges. (2) Hospital certifications (and recertifications) shall be phoned in to a telephone number provided each employee on his/her I.D. card. The employee or any person on his behalf (e.g., spouse, nurse, doctor, hospital personnel) may precertify. Any disputes regarding precertification or recertification in a particular case may be presented to the city's disputes committee. (3) The health care benefit is a qualified high deductible health plan with a network component. Benefits are available for service from in-or out-of-network providers, a $2,700.00 deductible applies for single coverage and/or $5,400.00 embedded deductible for single + 1 and family coverage per calendar year. The deductible for an out-of-network provider will be twice the in-network amount. Should federal regulations require changes to the deductible or any other plan benefits, the plan will comply with said requirements. (4) The maximum lifetime benefit per plan member is unlimited. (5) Prescription coverage: A pharmacy benefit manager (PBM) manages administration of the prescription drug benefit. Prescription drug services are available from in- and out-of-network pharmacies. When an in-network pharmacy is utilized both deductible and coinsurance amounts apply to the out-of-pocket maximum. Out of network pharmacies will be handled as shown on the summary plan description on file for police bargaining and administered by the city's third party administrator. The cost will be applied to the deductible and then will be covered at 50 percent. Unless specifically required by the physician, generic drugs will be dispensed whenever possible. (6) Wellness program: Preventative services as outlined by the Affordable Care Act (ACA) are covered with no member cost sharing when received from an in-network provider. If preventative services are received from an out-of-network provider the benefit is limited to $175.00 for employee only. Members of the bargaining group who voluntarily participate and follow the rules of the city wellness program will be eligible for city-specified incentives, including but not limited to, reductions in health insurance premiums, waiving of health insurance copays for specified medical facilities, gift cards, gym memberships, etc. No employee is required to participate in the wellness program and the city maintains the absolute right to set forth the terms and conditions surrounding the program. (7) Vision program: If the Omaha Police Officer Association creates a voluntary vision program for its members that are funded entirely by the employee, the city shall work with police management in order to allow them to participate. (8) The above summary only highlights the covered benefits under the qualified high deductible health plan. For a more extensive review, consult the summary plan description provided by the city's third party administrator. (9) Health savings account (HSA). The city shall make a contribution to a HSA on behalf of the employee in the following amounts: 2018 and 2019 Single: $1,300.00 annual contribution then 75 percent city match up to $500.00 on the first $666.67 of employee contributions. The maximum cumulative city lump sum and matching contribution shall be $1,800.00. Single + 1 and Family: $2,600.00 annual contribution then 75 percent city match up to $1,000.00 on the first $1,333.33 of employee contributions. The maximum cumulative city lump sum and matching contribution shall be  $3,600.00. 2020 and 2021 Single: $1,300.00 annual contribution then a 50 percent city match up to $375.00 on the first $750.00 of employee contributions. The maximum cumulative city lump sum and matching contribution shall be $1,675.00. Single + 1 and Family: $2,600.00 annual contribution then 50 percent city match up to $750.00 on the first $1,500.00 of employee contributions. The maximum cumulative city lump sum and matching contribution shall be $3,350.00. Other conditions. The city's annual HSA contribution will be contributed as a lump sum on the first pay period of the calendar year. For employees hired mid-year, the city's annual contribution will be prorated for the remaining months of the plan year. C. Health care for AEC employees commencing on January 1, 2020. a. AEC employees will have the same high deductible healthcare plan (HDHP) that is being implemented for Local 251 employees effective January 1. 2020. The health care plan provided herein shall be set forth in the summary plan description on file with and administered by the city's third party administrator or health insurance provider. The city shall provide employees with a written summary of the health care benefits herein. Such health care coverage shall commence on the first day of the month following employment. (b) The health care benefits shall include, without limitation: (1)   Hospital Precertification - All in-patient admissions must be certified. Planned admission must be certified in advance. or as soon as medically possible. The penalty for failure to certify is $500 of the in-hospital charges. which will not be paid by the CITY and will be the responsibility of the employee. Hospitalizations beyond the certified number of days must be recertified. If the hospitalization is recertified, there is no penalty. The penalty for hospitalization past the certified number of days a reduction by 500/o of both physician and hospital covered charges. which will not be paid by the CITY and will be the responsibility of the employee (2) Hospital certifications (and recertifications) shall be phoned in to a telephone number provided each employee on his/her I.D. card. The employee or any person on his behalf (e.g. spouse. nurse. doctor. hospital personnel) may precertify. Any disputes regarding precertification or recertification in a particular case may be presented to the City's Disputes Committee. (3) The health care benefit is a Qualified High Deductible Health Plan with a network component. Benefits are available for service from in-or out-of-network providers. a $2.750 deductible applies for single coverage and/or $5.500 embedded deductible for Single + 1 and Family coverage per calendar year. The deductible for an out-of-network provider will be twice the in-network amount. Should Federal regulations require changes to the deductible or any other plan benefits, the plan will comply with said requirements. (4)The maximum lifetime benefit per plan member is unlimited. (5) Prescription Coverage: A Pharmacy Benefit Manager (PBM) manages administration of the prescription drug benefit. Prescription drug services are available from in- and out-of-network pharmacies. When an in-network pharmacy is utilized both deductible and coinsurance amounts apply to the out-of- pocket maximum. Out of network pharmacies will be handled as shown on Exhibit "D"- the cost will be applied to the deductible and then will be covered at 50%. Unless specifically required by the physician, generic drugs will be dispensed whenever possible. (6) Preventative Services & CITY Wellness Program: The CITY's health insurance coverage will pay 100% of certain preventive services for adults, women (including women who are pregnant), and children when such services are provided by an in-network provider. For Out of Network providers, the CITY will allow coverage up to $200 for each covered individual for preventative services of well baby exams, routine physicals, school physicals, annual well woman examinations, routine colonoscopies, routine mammograms, immunizations, pap smears. Such out of network coverage shall be handled though the CITY's health care administrator in a manner similar to covered benefits under the health care plan, including application of any amounts to be paid against the covered individuals deductibles. After such coverage is met on any of these listed out of network preventive services, any further preventative services are subject to the normal deductible and coinsurance under the health care plan. Members of the bargaining group who voluntarily participate and follow the rules of the CITY Wellness Program will be eligible for CITY-specified incentives, including but not limited to, reductions in health insurance premiums, waiving of health insurance copays for specified medical facilities, gift cards, gym memberships, etc. No employee is required to participate in the Wellness Program and the CITY maintains the absolute right to set forth the terms and conditions surrounding the program. (7) Vision program: The CITY has created a voluntary vision program that is funded entirely by the employee. The above summary only highlights the covered benefits under the qualified high deductible health plan. For a more extensive review, consult the summary plan description provided by the city's third party administrator, Health savings account/HSA). The CITY shall set up Health Savings Accounts and allow employees to make voluntary contributions to the Accounts as permitted by Federal Law. The CITY shall make a contribution to a HSA on behalf of the employee in the following amounts: Single: $1,750 annual contribution. Single + 1 and Family: $3.500 annual contribution. Other conditions. The city's annual HSA contribution will be contributed as a lump sum on the first pay period of the calendar year. For employees hired mid-year, the city’s annual contribution will be prorated for the remaining months of the plan year. (10) Active Employees who are eligible for Medicare benefits under Title XVIII of the Social Security Act due to age, disability, or end-stage renal disease on January 1 of a plan year and who are enrolled in the City's HDHP Plan, are enrolled in Medicare. and are not eligible to receive the City's contribution to a HSA account, shall receive a lump sum payment in the following amounts, depending on the coverage they have. at the same time that they receive pay for the first pay period of the calendar year: Single: $2,375 Single + 1 and Family: $4,750. This lump sum payment shall be treated as taxable income and is subject to all tax withholdings. Section 5. That Section 23-404 of the Omaha Municipal Code is hereby amended as follows: Sec. 23-404. - Prescription cards. For CMPTEC, AEC until December 31, 2019, and fire management, the city shall pay covered prescription costs through an employee "prescription card" in addition to benefits identified above. On January 1, 2020, AEC will move to the qualified high deductible health care plan described in Omaha Municipal Code Section 23-403 which section describes health care and prescription drug benefits provided to AEC and this section shall no longer apply to AEC employees. The prescription card plan shall include the following: (a) Each employee will be issued a card which will allow the employee or covered member(s) to purchase prescriptions by paying, at the time and site of purchase and after the applicable yearly deductible has been satisfied, the following based on a tiered prescription system:  (1) Generic: actual cost of the drug up to $5.00. (2) Formulary brands: 20 percent of the cost of each covered prescription (minimum $20.00, maximum $40.00). (3) Non-formulary brands: 20 percent of the cost of each covered prescription (minimum $30.00, maximum $60.00). (b) The yearly deductible shall be $100.00 for single, single plus one, or family coverage. The prescription deductible and co-insurance are separate and distinct from the health coverage deductible and co-insurance, except prescriptions dispensed in the hospital shall be applied to the health coverage deductible and co-insurance. (c) Unless specifically required by the physician, generic drugs will be dispensed whenever possible. (d) The card will be valid at the majority of pharmacies in the Omaha area; however, it is understood that some pharmacies may not participate. In order to be covered for prescription costs within the city, the employee must use a participating pharmacy. (e) After an employee has expended $750.00 (after payment of the deductible) in a given calendar year, the card will allow an employee to obtain covered prescriptions at a flat rate of $5.00 per prescription. (f) The employee percentage cost per covered prescription may be higher when prescriptions are purchased outside the city if participating pharmacies are available. Additionally, the employee may be required to pay the total cost and then seek reimbursement through a claim filing process. (g) Prescriptions required for an extended period of time (i.e., in excess of 30 days) must be ordered through the city's designated mail-order program. For a mail-order 90-day supply, the employee must pay two co-pays, pursuant to subsection (a), above. Section 6. That Section 23-507 of the Omaha Municipal Code is hereby amended as follows: Sec. 23-507. -Wages for 2013, 2014, 2015, 2016, and 2017 2018, 2019, and 2020. For the 2013 payroll year: All AEC job classifications shall receive a zero percent salary increase, however all step/merit increases shall continue as normal. Each employee shall be paid a lump sum wage supplement equal to 1 percent of the employee’s 2013 non-overtime earnings. For the 2014 payroll year: All AEC job classifications shall receive a 3 percent salary increase. For the 2015 payroll year: All AEC job classifications shall receive a 2 percent salary increase. For the 2016 payroll year: All AEC job classifications shall receive a 2 percent salary increase. For the 2017 payroll year: All AEC job classifications shall receive a 2 percent salary increase. For the 2018 payroll year: All AEC job classifications shall receive a 3 percent salary increase. For the 2019 payroll year. All AEC job classifications shall receive a 3 percent salary increase. For the 2020 payroll year: All AEC job classifications shall receive a 3 percent salary increase. Section 7. That Section 22-32 of the Omaha Municipal Code is hereby created as follows: Sec. 22-32. - Service retirement pension. Upon retirement from service, a retiree shall receive a service pension payable monthly for the remainder of such retiree's life; provided that the retiree had previously completed the necessary requirements, as indicated under section 22-30. As of March 13, 1990, such pension shall be calculated as follows: For each year of service credit and fraction thereof, 1.667 percent of the average final monthly compensation upon which a contribution was made pursuant to the provisions of section 22-26; effective January 27, 1998, the 1.667 percent will increase to two percent for each year, or portion thereof, of service; effective December 23, 2001, the two percent will increase to 2.05 percent for each year, or portion thereof, of service; effective December 22, 2002, the 2.05 percent will increase to 2.1 O percent for each year, or portion thereof, of service; effective April 1, 2003 through April 30, 2003 for all members, except person subject to negotiations by the Functional Employees Group, (Functionals) the 2.10 percent will increase to 2.25 percent for each year, or portion thereof of service; effective December 21, 2003 for all members, except persons subject to negotiations by the Functionals, the 2.10 percent will increase to 2.25 percent for each year, or portion thereof, of service; effective December 19, 2004 for all members the 2.1 O percent will increase to 2.25 percent for each year, or portion thereof, of service; provided that the pension of any person who elects a deferred service retirement pension pursuant to the provisions of section 22-40 shall be calculated using the percentage in effect at the time such person severs or terminates city service and elects to leave such member's contributions in the system. For purposes of calculating average final monthly compensation for persons subject to negotiations by the Functionals who retire in 2004, 2005 or 2006, any pay period of such employee's highest 26 which falls in payroll years 2004 or 2005 shall be calculated as if such employee had received a three percent increase in compensation for such period. For purposes of calculating average final monthly compensation for persons in the Administrative and Executive Classifications who retire in 2004, 2005, 2006 or 2007, any pay period of such employee's highest 26 which falls (i) in payroll years 2003, 2004 or 2005 or between January 1, 2006 and June 30, 2006 shall be calculated as if such employee had received a 4.5 percent increase in compensation for such period in addition to actual pay increases received; (ii) within July 1, 2006 and December 31, 2006 shall be calculated as if such employee had received a 3.4 percent increase in compensation for such period in addition to actual pay increases received; (iii) within January 1, 2007 and June 30, 2007 shall be calculated as if such employee had received a 2.3 percent increase in compensation for such period in addition to actual pay increases received and (iv) within July 1, 2007 and December 31, 2007 shall be calculated as if such employee had received a 1.2 percent increase in compensation for such period in addition to actual pay increases received. Effective March 1, 2015 for all employees of Local 251, CMPTEC, Functionals and AEC hired before that date, Pensions shall be calculated using the employees' Final Average Compensation ("FAC") multiplied by: 1. 2.25% for years of service during and before 2014; and 2. 1.9% for years of service during and after 2015. Except as provided in the following paragraph, FAC shall be calculated as follows: • highest consecutive 78 pay periods in the employee's last 130 pay periods of employment divided by three (3) for employees who are within five (5) years of normal retirement as of March 1, 2015 under the eligibility criteria set forth in the 2009 through 2012 labor agreement; or • last 130 pay periods divided by five (5) for all other employees. Notwithstanding the FAC formula described in the preceding paragraph, the parties intend to protect employees hired on or before February 28, 2015 (the "current" employees) from any future loss in the value of their FAC as it existed as of February 28, 2015. Therefore, current employees shall be guaranteed a minimum FAC, regardless of their retirement date, calculated as follows: highest consecutive twenty-six (26) payroll periods in the 130 pay periods prior to February 28, 2015. Effective March 1, 2015 for all employees of Local 251, CMPTEC, Functionals and AEC hired on or after that date: The System shall establish and maintain a "Cash Balance Account" for each employee. Any such account shall be a notional account used to record the amount of benefits payable under these provisions. The Cash Balance Account shall be equal to the sum of the employee's pay credits and interest credits. An employee shall not have an actual individual account and shall not have any claim to any particular assets of the Plan. a. Pay Credits: On the last day of each plan year, each employee shall receive a pay credit to his/her Cash Balance Account equal to the following percentages of his/her annual pensionable earnings based on the following years of service. Years of Service Percentage Less than 8 Years of Service 13% At least 8 but less than 16 Years of Service 14% At least 16 but less than 24 Years of Service 15% 24 or more Years of Service 16% b. Interest Credits and Preretirement Dividends: On the last day of each plan year, each employee shall receive an interest credit for that plan year based on the balance at the beginning of the plan year. Employees will be guaranteed an interest credit of four percent (4%) each year. Additionally, employees may receive preretirement dividends to be added to the four percent (4%) guaranteed interest credit. Such preretirement dividends will be calculated as follows: 75% of the system's investment return that is over seven percent (7%) on a rolling five (5) year return, using market value of assets. The maximum dividend will be capped at three percent (3%) until such Cash Balance Plan has been in place until January 1, 2020. Any member who is required to terminate his/her employment and is not eligible to retire by virtue of the provisions of section 22-30, shall be entitled to a refund pursuant to the provisions of section 22-39 or may elect a deferred pension pursuant to the provisions of section 22-40. Section 8. This Ordinance, being legislative in character, shall be in full force and take effect on fifteen (15) days after its passage.
 
First Reading June 11, 2019; Second Reading and Public Hearing June 18, 2019; Third Reading and Vote June 25, 2019
 
PASSED: June 25, 2019: 6-0
City of Omaha
Jean Stothert,
Mayor
Elizabeth Butler,
City Clerk
 
7-3-19
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REQUEST FOR PROFESSIONAL ENGINEERING SERVICES
for
CITY OF OMAHA HAZARD
MITIGATION PROJECTS
The City of Omaha Public Works Department is seeking proposals for professional engineering and grant support services related to FEMA Hazard Mitigation Grant Program projects. 
Interested firms may request a detailed scope of work by emailing their requests to ae.selection@cityofomaha.org  or by writing to the Public Works Department, Attention:  Sylvia, 1819 Farnam Street, Omaha, NE 68183 prior to July 17, 2019.
 
7-3-19
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