City of Omaha Public Notices
City of Omaha Public Notices 
CITY PUBLIC NOTICES 10/11/17  10/12/17 9:47:49 AM


 
 
ORDINANCE NO. 41268
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 southeast of 180th and Fort Streets from AG – Agricultural District to R4 – Single Family Residential District (High Density).
SUMMARY:
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 1-80 and Outlots A-G, Sagewood Pointe, a subdivision as surveyed, platted and recorded in Douglas County, Nebraska, are hereby rezoned from AG – Agricultural District to R4 – Single Family Residential District (High Density).
First Reading:  September 19, 2017; Second Reading:  September 26, 2017; and, Third Reading and Public Hearing:  October 3, 2017.
PASSED: October 3, 2017, 6-0
APPROVED BY
BEN GRAY
ACTING MAYOR OF
THE CITY OF OMAHA
Elizabeth Butler,
City Clerk
 
10-11-17
______
 
 
 
ORDINANCE NO. 41262
AN ORDINANCE approving an Agreement for the sale of City-owned real property; to provide that notwithstanding any provisions of the Omaha Municipal Code to the contrary, the City is authorized to enter into the attached Real Estate Purchase Agreement with Ora Prince, 3724 North 36th Street, Omaha, NE 68111, to convey the property described in the attached agreement, located at 3728 North 36th Street, in consideration of the sum of Eight Hundred Fifty and 00/100 Dollars ($850.00); there are no expenses associated with the transfer of the property to Ora Prince; and to provide the effective date hereof.
First Reading:  September 19, 2017; Second Reading and Public Hearing:  September 26, 2017; and, Third Reading:  October 3, 2017.
PASSED: October 3, 2017, 6-0
APPROVED BY
BEN GRAY
ACTING MAYOR OF
THE CITY OF OMAHA
Elizabeth Butler,
City Clerk
 
10-11-17
______
 
 
ORDINANCE NO. 41263
AN ORDINANCE to establish pursuant to Section 40-251 of the Omaha Municipal Code a new Class "A" Flammable Liquids Storage District, to be known as District No. A-158, at 2550 East Locust Street, as requested by Daniel B. Owens of Omaha Airport Authority; and to provide the effective date hereof.
First Reading:  September 19, 2017; Second Reading and Public Hearing:  September 26, 2017; and, Third Reading:  October 3, 2017.
PASSED: October 3, 2017, 6-0
APPROVED BY
BEN GRAY
ACTING MAYOR OF
THE CITY OF OMAHA
Elizabeth Butler,
City Clerk
 
10-11-17
______
 
 
ORDINANCE NO. 41264
AN ORDINANCE (1) to approve an agreement between the City of Omaha and Van Dyke Consulting, Inc. in the amount of fifty-two thousand dollars ($52,000); (2) to authorize funding for such agreement in the amount of thirty-two thousand five hundred dollars ($32,500) from the City of Omaha's 2017-2018 Office of Violence Prevention (OVP) Grant, Award #17-VP-5006, awarded by the Nebraska Crime Commission; and (3) to authorize funding for such agreement in the amount of nineteen thousand five hundred dollars ($19,500) by the Omaha Police Department from Fund 11111, Organization 114274, Account 42239; to provide funding for the development of a new web-based gang database for the Omaha Police Department Gang Unit; involving appropriations of more than one year in conformity with Section 5.17 of the Home Rule Charter; and, providing for the effective date hereof.
First Reading:  September 19, 2017; Second Reading and Public Hearing:  September 26, 2017; and, Third Reading:  October 3, 2017.
PASSED: October 3, 2017, 6-0
APPROVED BY
BEN GRAY
ACTING MAYOR OF
THE CITY OF OMAHA
Elizabeth Butler,
City Clerk
 
10-11-17
______
 
 
ORDINANCE NO. 41265
AN ORDINANCE to approve the acceptance of and authorize disbursement over more than one fiscal year from the FY 2016 Assistance to Firefighters (AFG) Grant Program - Operations and Safety, Award #EMW-2016-FO-06996, in the amount of four hundred and thirty-seven thousand, five hundred and one dollars ($437,501), with a match of forty-three thousand, seven hundred and fifty dollars ($43,750) provided by the Omaha Fire Department from Fund 12168, Organization 114516, for a total program budget in the amount of four hundred and eighty-one thousand, two hundred and fifty-one dollars ($481,251), during the project period of June 12, 2017 to June 11, 2018; to provide funding for thermal imaging and fitness equipment as detailed in the attached grant application; to authorize payment from such grant funding and involving appropriations of more than one fiscal year in conformity with Section 5.17 of the Home Rule Charter; and, providing for the effective date thereof.
First Reading:  September 19, 2017; Second Reading and Public Hearing:  September 26, 2017; and, Third Reading:  October 3, 2017.
PASSED: October 3, 2017, 6-0
APPROVED BY
BEN GRAY
ACTING MAYOR OF
THE CITY OF OMAHA
Elizabeth Butler,
City Clerk
 
10-11-17
______
 
 
ORDINANCE NO. 41266
AN ORDINANCE to approve the acceptance of and authorize disbursement over more than one fiscal year from the FY 2016 Staffing for Adequate Fire and Emergency Response (SAFER) Grant, Award #EMW-2016-FH-00666, in the amount of one million and sixteen thousand, one hundred and ninety-two dollars ($1,016,192), with a match of six hundred thirty-one thousand, six hundred and ninety dollars ($631,690) provided by the Omaha Fire Department from Fund 12168, Organization 130622, for a total program budget in the amount of one million and six hundred forty-seven thousand, eight hundred and eighty-two dollars ($1,647,882), during the project period of January 24, 2018 to January 23, 2021; to provide funding for six (6) full-time firefighter positions with the Omaha Fire Department over a three-year period as detailed in the attached grant application; to authorize payment from such grant funding and involving appropriations of more than one fiscal year in conformity with Section 5.17 of the Home Rule Charter; and, providing for the effective date thereof.
First Reading:  September 19, 2017; Second Reading and Public Hearing:  September 26, 2017; and, Third Reading:  October 3, 2017.
PASSED: October 3, 2017, 6-0
APPROVED BY
BEN GRAY
ACTING MAYOR OF
THE CITY OF OMAHA
Elizabeth Butler,
City Clerk
 
10-11-17
______
 
 

Notice is hereby given that the City Council of the City of Omaha met on October 3, 2017 and passed and approved the ordinances entitled:

ORDINANCE NO. 41267

 

AN ORDINANCE authorizing and directing an issue of general obligation bonds, an issue of general obligation refunding bonds and an issue of general obligation crossover refunding bonds of the City of Omaha, Nebraska in the aggregate principal amount of not to exceed $120,800,000 to be termed for identification purposes “Various Purpose and Refunding Bonds, Series 2017A,” “General Obligation Refunding Bonds, Series 2017B” and “General Obligation Crossover Refunding Bonds, Series 2017C,” respectively; prescribing the form of said bonds; authorizing the sale of said bonds by negotiation; designating for defeasance and redemption certain bonded indebtedness of the City of Omaha and certain sanitary and improvement districts annexed by the City of Omaha, Nebraska; directing the Finance Department to give notices of such defeasance and redemption; directing the preparation of a transcript of proceedings authorizing the issuance, sale and delivery of said bonds; appointing an Escrow Agent, a Paying Agent and Registrar; approving the selections of an underwriter and an escrow verification agent; directing that said bonds shall initially be issued and registered in book?entry form; providing for continuing disclosure; delegating authority to the Finance Director to determine the final prices, interest rates, principal amounts and redemption provisions for said bonds; and providing for the effective date thereof.

WHEREAS, the City of Omaha, Nebraska by ordinance and merger agreement has from time to time annexed certain areas, including certain sanitary and improvement districts, the names of each of the particular districts annexed, all in Douglas County, Nebraska, being set forth in the table below opposite the numbers of the annexation ordinances of the City of Omaha, Nebraska approving the respective merger agreements for such districts; pursuant to such annexation ordinances, the City of Omaha, Nebraska assumed and became legally liable for the then outstanding indebtedness of each such district in the respective principal amounts set forth in the table below opposite the names of each such district; as of November 1, 2017, indebtedness of each such district will be outstanding in the respective principal amounts set forth in the table below opposite the names of each such district; pursuant to the terms thereof, such indebtedness is subject to redemption at the redemption price set forth in the table below, plus interest accrued to the redemption date; and the maximum principal amounts of such outstanding indebtedness to be refunded is set forth in the table below opposite the names of each such district:

City Annexation Ordinance Number

Effective
Date

 

Douglas County Sanitary and Improvement District No.

Principal Amount of Indebtedness Assumed

Principal Amount of Indebtedness to be Outstanding on November 1, 2017

Maximum Principal Amount to be Refunded

Redemption Price

40421

8/26/15

206

$2,300,000

$1,755,000

$905,000

100%

40070

9/03/14

281

$160,000

$85,000

$60,000

100%

40843

8/24/16

293

$815,000

$780,000

$780,000

100%

41212

8/30/17

326

$1,430,000

$1,430,000

$1,375,000

100%

40077

9/3/14

373

$2,020,000

$975,000

$895,000

100%

40426

8/26/15

374

$6,540,000

$4,460,000

$4,450,000

100%

40079

9/03/14

382

$2,295,000

$1,730,000

$1,730,000

100%

40840

8/24/16

385

$2,180,000

$1,895,000

$990,000

100%

40845

8/24/16

389

$1,320,000

$1,170,000

$695,000

100%

40427

8/26/15

394

$1,520,000

$830,000

$735,000

100%

40080

9/3/14

397

$6,270,000

$2,250,000

$2,060,000

100%

40081

9/03/14

398

$2,630,000

$2,095,000

$1,720,000

100%

40428

8/26/15

399

$3,585,000

$3,315,000

$3,230,000

100%

40429

8/26/15

401

$865,000

$620,000

$170,000

100%

41213

8/30/17

402

$1,780,000

$1,780,000

$1,550,000

100%

40430

8/26/15

412

$1,590,000

$935,000

$935,000

100%

40084

9/3/14

422

$5,245,000

$1,095,000

$1,095,000

100%

40843

8/24/16

431

$2,375,000

$2,100,000

$1,245,000

100%

40841

8/24/16

458

$2,015,000

$1,705,000

$1,705,000

100%

40434

8/26/15

460

$1,975,000

$335,000

$335,000

100%

41214

8/30/17

462

$2,215,000

$2,215,000

$2,050,000

100%

40844

8/24/16

486

$1,555,000

$1,485,000

$1,280,000

100%

40086

9/3/14

510

$965,000

$840,000

$785,000

100%

 

(the outstanding indebtedness listed in the above table shall be referred to hereinafter collectively as the “SID Debt”); and

WHEREAS, the City Council of the City of Omaha, Nebraska, upon due authorization, previously has issued its general obligation bonds or general obligation and refunding bonds of the series and principal amount set forth in the table below opposite the name of such series; as of November 1, 2017, the outstanding principal amount of such series is set forth in the table below opposite the name of such series; pursuant to the terms thereof, such indebtedness will be subject to redemption at the redemption price set forth in the table below, plus interest accrued to the redemption date; and the maximum principal amount of such outstanding indebtedness to be refunded is set forth in the table below opposite the name of such series:

Bond Caption
City of Omaha, Nebraska

Original
Principal Amount

Principal Amount to be Outstanding on November 1, 2017

Maximum Principal
Amount
to be Refunded

Redemption Price

Various Purpose Bonds, Series of 2011A

$13,310,000

$9,975,000

$6,650,000

100%

General Obligation Refunding Bonds, Series of 2011B

$9,525,000

$4,575,000

$1,000,000

100%

Various Purpose and Refunding Bonds, Series of 2012A

$27,170,000

$20,670,000

$11,935,000

100%

General Obligation Refunding Bonds, Series of 2012B

$32,040,000

$26,230,000

$220,000

100%

Various Purpose and Refunding Bonds, Series of 2013A

$24,970,000

$16,010,000

$7,150,000

100%

Various Purpose and Refunding Bonds, Series of 2014A

$29,215,000

$24,365,000

$9,210,000

100%

Various Purpose and Refunding Bonds, Series of 2015A

$24,050,000

$22,520,000

$10,990,000

100%

 

(the outstanding series of bonds listed in the above table being referred to hereinafter, together with the SID Debt, as the “Outstanding Bonds”); and

WHEREAS, the City Council of the City of Omaha, Nebraska, upon due authorization, previously has issued its general obligation bonds of the series and principal amount set forth in the table below; as of November 1, 2017, the outstanding principal amount of such series is set forth in the table below; pursuant to the terms thereof, such indebtedness will be subject to redemption at the redemption price set forth in the table below, plus interest accrued to the redemption date; and the maximum principal amount of such outstanding indebtedness to be refunded is set forth in the table below:

Bond Caption
City of Omaha, Nebraska

Original
Principal Amount

Principal Amount to be Outstanding on November 1, 2017

Maximum Principal
Amount
to be Refunded

Redemption Price

Taxable Various Purpose Bonds (Build America Bonds—Direct Payment, Series of 2009B

$11,160,000

$11,160,000

$9,300,000

100%

 

(the outstanding series of bonds listed in the above table being referred to hereinafter as the “Outstanding 2009B Bonds”); and

WHEREAS, Section 10?142 and, with respect to the SID Debt, Sections 10?615 and 10?616, Reissue Revised Statutes of Nebraska, as amended, authorize the City of Omaha, Nebraska to issue its general obligation refunding bonds, with the proceeds of which to call and redeem all or any part of its outstanding general obligation bonds at any time prior to the date of maturity or the redemption date of the bonds to be refunded that the City determines to be in its best interests; and

WHEREAS, the Home Rule Charter of the City of Omaha, 1956, as amended (the “Charter”), at Section 5.26 of Article V authorizes the issuance of general obligation refunding bonds for the purpose of refunding outstanding general obligation indebtedness of the City of Omaha, Nebraska and the question of such issuance is not required to be authorized by referendum; and

WHEREAS, the City Council of the City of Omaha, Nebraska has determined that it is necessary and in the best interests of said City to authorize and direct the (i) current refunding and advance refunding, as the case may be, of some or all of the Outstanding Bonds and to defease the liens created under the ordinances, resolutions or other instruments authorizing the respective issuances of such Outstanding Bonds by providing for the deposit of certain moneys and securities in an amount sufficient, together with interest thereon, to pay the principal of, premium, if any, and interest on such Outstanding Bonds to the respective redemption or maturity dates thereof, and (ii) crossover advance refunding of the Outstanding 2009B Bonds as set forth herein; and

WHEREAS, the City Council of the City of Omaha, Nebraska was authorized at an election held on May 13, 2014 to issue Public Facility Bonds in the aggregate principal amount of $10,272,000, of which $4,803,500 principal amount has been issued; and

WHEREAS, the City Council of the City of Omaha, Nebraska was authorized at an election held on May 13, 2014 to issue Public Safety Bonds in the aggregate principal amount of $6,250,000, of which $1,305,650 principal amount has been issued; and

WHEREAS, the City Council of the City of Omaha, Nebraska was authorized at an election held on May 13, 2014 to issue Parks and Recreation Bonds in the aggregate principal amount of $14,511,000, of which $4,090,200 principal amount has been issued; and

WHEREAS, the City Council of the City of Omaha, Nebraska was authorized at an election held on May 11, 2010 to issue Street and Highway Bonds in the aggregate principal amount of $44,280,000, of which $41,220,850 principal amount has been issued; and

WHEREAS, the City Council of the City of Omaha, Nebraska was authorized at an election held on May 13, 2014 to issue Street and Highway Bonds in the aggregate principal amount of $47,375,000, of which $-0- principal amount has been issued; and

WHEREAS, the City Council of the City of Omaha, Nebraska was authorized at an election held on May 13, 2014 to issue Sewer Bonds in the aggregate principal amount of $13,616,000, of which $1,223,800 principal amount has been issued; and

WHEREAS, the City Council of the City of Omaha, Nebraska has determined that it is necessary and in the best interests of said City that an issue of general obligation and refunding bonds, an issue of general obligation refunding bonds and an issue of general obligation crossover refunding bonds be authorized to be issued and sold by private, negotiated sale as hereinafter provided pursuant to the above authorizations granted and for the purposes provided herein and in proceedings of the elections referred to above, and to issue (i) general obligation and refunding bonds that shall be formed for identification purposes as Various Purpose and Refunding Bonds, Series 2017A, (ii) general obligation refunding bonds that shall be termed for identification purposes as General Obligation Refunding Bonds, Series 2017B, (iii) general obligation crossover refunding bonds that shall be termed for identification purposes as General Obligation Crossover Refunding Bonds, Series 2017C, all as a single issue with such separate series in the aggregate principal amount of not to exceed One Hundred Twenty Million Eight Hundred Thousand Dollars ($120,800,000);

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA:

Section 1.  That there are hereby authorized to be issued a series of general obligation and refunding bonds, a series of general obligation refunding bonds and a series of general obligation crossover refunding bonds of the City of Omaha, Nebraska (the “City”) in the aggregate principal amount of not to exceed One Hundred Twenty Million Eight Hundred Thousand Dollars ($120,800,000), to be fixed by the Finance Director at the time of the sale of such bonds, to be respectively designated “Various Purpose and Refunding Bonds, Series 2017A” (the “Series 2017A Bonds”), “General Obligation Refunding Bonds, Series 2017B” (the “Series 2017B Bonds”) and “General Obligation Crossover Refunding Bonds, Series 2017C” (the “Series 2017C Bonds” and, collectively with the Series 2017A Bonds and the Series 2017B Bonds, the “Bonds”).  The Bonds shall be in fully registered form without coupons, shall be dated November 9, 2017, or such other date as may be fixed by Finance Director of the City (the “Finance Director”) at the time of the sale of the Bonds, shall be of the denomination of $5,000 or any integral multiple of $5,000 (“Authorized Denomination”), shall be numbered by series in consecutive numerical order from one upwards in chronological order, as issued, or shall be numbered in any other manner as the Finance Director shall determine, and shall mature serially, or as term bonds, or both, in numerical order on April 15 in each of the years and in the principal amounts as determined by the Finance Director at the time of the sale of the Bonds.  The Bonds shall bear interest at the rate or rates of interest to be fixed by the Finance Director at the time of the sale thereof, payable semiannually on April 15 and October 15 of each year (each, an “Interest Payment Date”), commencing April 15, 2018.  The record dates for the payment of interest shall be April 1 and October 1 of each year (“Record Date”).  The Finance Director at the time of the sale of the Bonds may fix different serial and term maturity dates, semiannual interest payment dates and corresponding record dates.  Both the principal of and interest on the Bonds shall be payable by the Paying Agent and Registrar for the City.  The City hereby appoints First National Bank of Omaha, Omaha, Nebraska to serve as Escrow Agent, Paying Agent and Registrar, approves (i) the Escrow and Agency Agreement (in substantially the form attached hereto as Exhibit A (the “Series 2017A and B Escrow Agreement”)) and (ii) the Escrow Agreement (in substantially the form attached hereto as Exhibit B (the “Series 2017C Escrow Agreement” and together with the Series 2017A and B Escrow Agreement, the “Agreement”)) collectively setting forth the duties and responsibilities of the Escrow Agent (“Escrow Agent”) and Paying Agent and Registrar (“Paying Agent”), and the compensation therefor, and authorizes and directs the Mayor of the City (the “Mayor”) to execute and deliver such Agreement with such modifications and additions as the Mayor shall approve.  The Finance Director is hereby authorized and directed to retain Chris D. Berens, CPA, P.C., independent certified public accountants, to prepare and deliver to the City reports verifying that the amount of Bond proceeds deposited with the Escrow Agent pursuant to Section 1(e), together with investment earnings thereon, is sufficient to pay the principal of and interest on the bonds being refunded through and including the respective maturity or redemption dates thereof.

The Bonds maturing on or prior to April 15, 2027 shall not be subject to redemption prior to their stated maturities.  The Bonds maturing on and after April 15, 2028 shall be subject to redemption at the option of the City prior to their stated maturities at any time on and after April 15, 2027, in whole or in part, from time to time, in such order of maturities as shall be determined by the City, at the principal amount thereof (or the portion of the principal amount thereof to be redeemed) and the interest accrued thereon to the date fixed for their redemption without redemption premium; provided that the Finance Director may at the time of sale of the Bonds fix different redemption periods to commence not later than the tenth anniversary of the date of the Bonds, and related redemption premiums of not greater than 2% of the principal amount of the Bonds redeemed.  In the event that at any time less than all the Bonds of any given maturity within a series are called for redemption, the Bonds (or portions thereof) of such maturity to be redeemed shall be selected in such manner as the Paying Agent deems fair.

The Bonds with term maturities, if any, shall be subject to mandatory sinking fund redemption prior to their respective term maturity dates, at a price of par without premium on April 15 (or such other date as the Finance Director may determine) of each of the years and the principal amounts as the Finance Director at the time of sale of the Bonds may fix.

To the extent that such Bonds have been previously called for redemption in part and otherwise than from the sinking fund, each related aforesaid annual sinking fund payment for the Bonds of such maturity shall be reduced by the amount obtained by multiplying the principal amount of such Bonds of such maturity so called for redemption, by the ratio which each annual sinking fund payment for the Bonds of such maturity bears to the total sinking fund payments of such Bonds subject to sinking fund redemption, and by rounding each sinking fund payment to the nearest $5,000 multiple.

In case a Bond subject to sinking fund redemption is of a denomination larger than $5,000, a portion of such Bond ($5,000 or any multiple thereof) may be redeemed, but Bonds shall be redeemed only in the principal amount of $5,000 each or any integral multiple thereof.  On or before the 30th day prior to each such sinking fund payment date, the Paying Agent shall proceed to select for redemption (in such manner, as the Paying Agent deems fair), from all outstanding Bonds subject to sinking fund redemption, a principal amount of such Bonds, equal to the aggregate principal amount of such Bonds redeemable with the required sinking fund payment, and shall call such Bonds or portions thereof ($5,000 or any integral multiple thereof) for redemption from such sinking fund on the next April 15 (or such other date as the Finance Director shall determine), and give notice of such call.

If any Bonds (or portions thereof in installments of $5,000 or any integral multiple thereof) are to be redeemed, notice of redemption, which may be conditional, (specifying the series designation, date, numbers, CUSIP numbers, interest rates and maturities of the Bonds to be redeemed, the date fixed for their redemption and the premium, if any, payable upon such redemption, and if less than the entire principal sum of any Bond is to be redeemed, that the Bond must be surrendered in exchange for the amount thereof to be redeemed and the issuance of a new Bond equaling in principal amount that portion of the principal sum thereof not redeemed) shall be mailed, postage prepaid, not less than 30 days prior to the redemption date, by registered or certified mail, to the owner of any of said Bonds to be redeemed in whole or in part in whose name such Bond is registered as of 45 days prior to the redemption date, at the last address as it appears on the books of registry (the “Books of Registry”) maintained by the Paying Agent.  A notice of optional redemption shall describe whether and the conditions under which the call for redemption can be revoked.  When any of the aforesaid Bonds 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 thereon shall cease from and after the date so specified for their redemption.  All Bonds redeemed shall be cancelled and not reissued.  If such funds shall not have been so deposited with the Paying Agent as aforesaid on or before the date fixed for redemption, such call for redemption shall be revoked and the Bonds so called for redemption shall continue to be outstanding the same as though they had not been so called, and shall continue to bear interest until paid at such rate as they would have borne had they not been called for redemption, and shall continue to be protected by this Ordinance and entitled to the benefits and security hereof.

The issuance of the Bonds is authorized, and the proceeds of the Bonds, (net of accrued interest, if any, which shall be deposited with the Paying Agent and applied to the payment of interest on the Bonds,) shall be applied, as follows:

(a)               Up to One Million Three Hundred Thousand Dollars ($1,300,000) of the Bonds is issued, under and pursuant to the authority contained in the proceedings calling, holding and conducting elections held on May 13, 2014, upon the issuance of Public Facility Bonds, and the proceeds thereof shall be used for the purposes provided for in the proceedings of said elections.

(b)               Up to One Million Dollars ($1,000,000) of the Bonds is issued, under and pursuant to the authority contained in the proceedings calling, holding and conducting elections held on May 13, 2014, upon the issuance of Public Safety Bonds, and the proceeds thereof shall be used for the purposes provided for in the proceedings of said elections.

(c)               Up to Four Million Five Hundred Thousand Dollars ($4,500,000) of the Bonds is issued, under and pursuant to the authority contained in the proceedings calling, holding and conducting an election held on May 13, 2014, upon the issuance of Parks and Recreation Bonds, and the proceeds thereof shall be used for the purposes provided for in the proceedings of said elections.

(d)               Up to Sixteen Million Dollars ($16,000,000) of the Bonds is issued under and pursuant to the authority contained in the proceedings calling, holding and conducting elections held on May 11, 2010 and May 13, 2014, upon the issuance of Street and Highway Bonds, and the proceeds thereof shall be used for the purposes provided for in the proceedings of said elections.

(e)               The proceeds of the Bonds applied to the redemption of the Outstanding Bonds shall be irrevocably deposited in trust with the Escrow Agent, together with other moneys, if any, made available by the City, for investment and disbursement in accordance with the Series 2017A and B Escrow Agreement such that the Escrow Agent shall make moneys available to the paying agent or paying agents for the Outstanding Bonds at such times and in such amounts that the principal of, premium, if any, and interest on those portions of the issues of such Outstanding Bonds called for redemption under Section 8 hereof (as such call may be revised as designated by the Finance Director at the time of the sale of the Bonds) shall be paid as and when the same become due to and including the respective redemption or maturity dates of the Outstanding Bonds that are listed in such action taken by the Finance Director.

(f)               The proceeds of the Bonds remaining following the uses as provided by clauses (a) through (e), inclusive, shall be irrevocably deposited in trust with the Escrow Agent, together with other moneys, if any, made available by the City, for investment and disbursement in accordance with the Series 2017C Escrow Agreement such that the Escrow Agent shall make moneys available for (a) the scheduled interest payments on the Series 2017C Bonds through December 1, 2019 (b) the security and payment of any principal to become due on the Series 2017C Bonds to but not including the redemption date for the Outstanding 2009B Bonds and (c) the redemption of the following Outstanding 2009B Bonds (or redemption of such Series 2009B Bonds as designated by the Finance Director at the time of the sale of the Bonds), plus accrued interest, to the Outstanding 2009B Bonds Redemption Date (December 1, 2019):

 

Designation of Issue

Issue Date

Amount Outstanding

November 1, 2017

City of Omaha

 

 

Taxable Various Purpose Bonds (Build America Bonds—Direct Payment, Series of 2009B

10/15/09

$11,160,000

Section 2.  That the City covenants, and it does hereby covenant, that it is held and firmly bound, that its full faith and credit and taxing power are hereby pledged for the prompt payment of the principal sum of each Bond hereby authorized and the interest accruing thereon at the times and in the amounts required and that the City will levy and collect such taxes as may be necessary for the payment of the principal of and interest on the Bonds as the same respectively become due, and that the City hereby additionally pledges the moneys and investment earnings thereon as held and invested pursuant to the Series 2017C Escrow Agreement, to the Series 2017C Bonds through December 1, 2019.

Section 3.  That the Bonds shall be signed with the manual or facsimile signature of the Mayor, countersigned by the manual or facsimile signature of the City Clerk of the City (the “City Clerk”), and registered by and with the manual or facsimile signature of the Comptroller of the City.  The Finance Director shall direct the Paying Agent to authenticate the Bonds, and no Bond shall be valid or obligatory for any purpose unless and until the Certificate of Authentication endorsed on each Bond shall have been manually executed by an authorized officer of the Paying Agent.  Upon the authentication of any Bonds, the Paying Agent shall insert in the Certificate of Authentication the date as of which such Bonds are authenticated or such other date as the Finance Director may determine.

CUSIP identification numbers may be printed on the Bonds, but no such number shall constitute a part of the contract evidenced by the particular Bond upon which it is printed, and no liability shall attach to the City or any officer or agent thereof (including any paying agent for the Bonds) by reason of such numbers or any use made thereof (including any use thereof made by the City, any such officer or any such agent) or by reason of any inaccuracy, error or omission with respect thereto or in such use.

Section 4.  That, at all times while any Bond remains outstanding and unpaid, the Paying Agent shall keep or cause to be kept at its principal corporate trust office Books of Registry for the registration, exchange and transfer of Bonds.  Upon presentation at its principal corporate trust office for such purpose, the Paying Agent, under such reasonable regulations as it may prescribe, shall register, exchange or transfer, or cause to be registered, exchanged or transferred, on the Books of Registry, Bonds as herein set forth.  The Books of Registry shall at all times be open for inspection by the City or its duly authorized agent or representative.

Section 5.  That any Bond may be exchanged at the principal corporate trust office of the Paying Agent for a like aggregate principal amount of such Bonds in other authorized principal sums of the same series, interest rate and maturity.  Any Bond may be transferred upon the Books of Registry by the person in whose name it is registered, in person or by his duly authorized agent, upon surrender of such Bond to the Paying Agent for cancellation, accompanied by a written instrument of transfer duly executed by the registered owner in person or by his duly authorized agent, in form satisfactory to the Paying Agent.  No transfer or exchange of Bonds shall be required to be made during the 15 days immediately preceding an Interest Payment Date for the Bonds, nor during the 45 days immediately preceding the date filed for redemption of the Bonds.  Whenever any Bond shall be surrendered for transfer or exchange at the principal corporate trust office of the Paying Agent, the Paying Agent shall authenticate (and send by registered mail to the new owner thereof at his request, risk and expense), in the name of the transferee or transferees, a new duly executed Bond or Bonds of the same series, interest rate and maturity and for a like aggregate principal sum, dated so that there shall result no gain or loss of interest as a result of such transfer, registered on the Books of Registry in such manner as the owner or transferee, as the case may be, may request.  All transfers pursuant to this Section shall be made without expense to the holder of such Bonds, except that the Paying Agent shall require the payment by the holder of the Bond requesting such transfer of any tax or other governmental charges required to be paid with respect to such transfer.  All Bonds surrendered pursuant to this Section shall be cancelled.

Section 6.  That the Bonds shall be initially issued in book-entry form with a separate single authenticated fully registered bond for each maturity in the aggregate principal amount of the Bonds and in substantially the form set forth herein registered in the Books of Registry of the Paying Agent in the name of a nominee of The Depository Trust Company, New York, New York, and its successors and assigns (the “Securities Depository”).  When Bonds are so registered in accordance with this Section, the following provisions shall apply:

(a)               The City and the Paying Agent shall have no responsibility or obligation to any broker?dealer, bank or other financial institution for which the Securities Depository holds Bonds as securities depository (each, a “Bond Participant”) or to any person who is an actual purchaser of a Bond from a Bond Participant while the Bonds are in book?entry form (each, a “Beneficial Owner”) with respect to the following:

(i)           the accuracy of the records of the Securities Depository, any nominees of the Securities Depository or any Bond Participant with respect to any ownership interest in the Bonds;

(ii)           the delivery to any Bond Participant, any Beneficial Owner or any other person, other than the Securities Depository, of any notice with respect to the Bonds, including any notice of redemption; or

(iii)          the payment to any Bond Participant, any Beneficial Owner or any other person, other than the Securities Depository, of any amount with respect to the Bonds.  The Paying Agent shall make payments with respect to the Bonds only to or upon the order of the Securities Depository or its nominee, and all such payments shall be valid and effective fully to satisfy and discharge the obligations with respect to such Bonds to the extent of the sum or sums so paid.  No person other than the Securities Depository shall receive an authenticated Bond.

(b)               Upon receipt by the Paying Agent of written notice from the Securities Depository to the effect that the Securities Depository is unable or unwilling to discharge its responsibilities, the Paying Agent shall issue, transfer and exchange Bonds requested by the Securities Depository in appropriate amounts.  Whenever the Securities Depository requests the Paying Agent to do so, the Paying Agent will cooperate with the Securities Depository in taking appropriate action after reasonable notice (i) to arrange, with the prior written consent of the City, for a substitute securities depository willing and able upon reasonable and customary terms to maintain custody of the Bonds or (ii) to make available Bonds registered in whatever name or names the Beneficial Owners transferring or exchanging such Bonds shall designate.

(c)               If the City determines that it is desirable that certificates representing the Bonds be delivered to Bondholders and so notifies the Paying Agent in writing, the Paying Agent shall so notify the Securities Depository, whereupon the Securities Depository will notify the Bond Participants of the availability through the Securities Depository of bond certificates representing the Bonds.  In such event, the Paying Agent shall issue, transfer and exchange bond certificates representing the Bonds as requested by the Securities Depository in appropriate amounts and in Authorized Denominations.

(d)               So long as any Bond is registered in the name of the Securities Depository or any nominee thereof, all payments with respect to such Bond and all notices with respect to such Bond shall be made and given, respectively, to the Securities Depository as provided in the Letter of Representations, as hereinafter defined.

(e)               Registered ownership of the Bonds may be transferred on the Books of Registry maintained by the Paying Agent, and the Bonds may be delivered in physical form to the following:

(i)           any successor Securities Depository or its nominee; and

(ii)           any person, upon (A) the resignation of the Securities Depository from its functions as depository or (B) termination of the use of the Securities Depository pursuant to this Section.

(f)               In the event of any partial redemption of a Bond unless and until such partially redeemed Bond has been replaced in accordance with the provisions of this Ordinance, the books and records of the Paying Agent shall govern and establish the principal amount of such Bond as is then outstanding and all of the Bonds issued to the Securities Depository or its nominee shall contain a legend to such effect.

The Mayor or Finance Director is hereby authorized and directed to perform the Blanket Issuer Letter of Representations dated November 7, 1995 (the “Letter of Representations”) entered into by and between the City and the Securities Depository pursuant to Ordinance No. 33714 with such changes as shall be approved by the Mayor or Finance Director, the execution and delivery by such officer to evidence conclusively the approval of such changes.

Section 7.  That the Bonds, the Paying Agent’s Certificate of Authentication and the instrument of assignment shall be in substantially the following forms and contain substantially the recitals and pledges in the forms herein specified, as follows, with such appropriate insertions, variations and omissions as are required with respect thereto:

[Remainder of Page Intentionally Left Blank]

 

(FORM OF BOND)
UNITED STATES OF AMERICA
STATE OF NEBRASKA
CITY OF OMAHA

[VARIOUS PURPOSE AND REFUNDING BOND
SERIES 2017A]

[GENERAL OBLIGATION REFUNDING BOND
SERIES 2017B]

[GENERAL OBLIGATION REFUNDING BOND
SERIES 2017C]

 

AS PROVIDED IN THE ORDINANCE REFERRED TO HEREIN, UNTIL THE TERMINATION OF THE SYSTEM OF BOOK-ENTRY-ONLY TRANSFERS THROUGH THE DEPOSITORY TRUST COMPANY, NEW YORK, NEW YORK, REFERRED TO HEREINAFTER AS “DTC” TOGETHER WITH ANY SUCCESSOR SECURITIES DEPOSITORY APPOINTED PURSUANT TO THE ORDINANCE AND NOTWITHSTANDING ANY OTHER PROVISIONS OF THE ORDINANCE TO THE CONTRARY, A PORTION OF THE PRINCIPAL AMOUNT OF THIS BOND MAY BE PAID OR REDEEMED WITHOUT SURRENDER HEREOF TO THE PAYING AGENT.  DTC, OR A NOMINEE, TRANSFEREE, OR ASSIGNEE OF DTC OF THIS BOND MAY NOT RELY UPON THE PRINCIPAL AMOUNT INDICATED HEREON AS THE PRINCIPAL AMOUNT OUTSTANDING AND UNPAID.  THE PRINCIPAL AMOUNT HEREOF OUTSTANDING AND UNPAID SHALL FOR ALL PURPOSES BE THE AMOUNT DETERMINED IN THE MANNER PROVIDED IN THE ORDINANCE.

UNLESS THIS BOND IS PRESENTED BY AN AUTHORIZED OFFICER OF DTC (A) TO THE PAYING AGENT FOR REGISTRATION OF TRANSFER OR EXCHANGE OR (B) TO THE PAYING AGENT FOR PAYMENT OF PRINCIPAL, AND ANY BOND ISSUED IN REPLACEMENT HEREOF OR SUBSTITUTION HEREOF IS REGISTERED IN THE NAME OF DTC AND ANY PAYMENT IS MADE TO DTC OR ITS NOMINEE, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE ONLY THE REGISTERED OWNER HEREOF, DTC OR ITS NOMINEE, HAS AN INTEREST HEREIN.

REGISTERED REGISTERED

No.

INTEREST RATE

MATURITY DATE

DATED DATE

CUSIP

 

April 15, 20__

November 9, 2017

681712______

REGISTERED OWNER: CEDE & Co.

PRINCIPAL SUM: DOLLARS

KNOW ALL MEN BY THESE PRESENTS: That the CITY OF OMAHA, a municipal corporation in the County of Douglas and State of Nebraska, acknowledges itself indebted to, and promises to pay to, the Registered Owner (named above), or registered assigns, on the Maturity Date (specified above) (unless this bond shall be subject to prior redemption and shall have theretofore been called for previous redemption and the payment of the redemption price has been duly made or provided for), the Principal Sum (specified above) upon presentation and surrender of this bond at the principal office in Omaha, Nebraska of First National Bank of Omaha, Paying Agent and Registrar (the “Paying Agent”), or at the principal office of its successor as Paying Agent, and to pay interest on said Principal Sum by check or draft mailed to the person whose name this bond is registered as of April 1 or October 1 (whether or not a business day), as the case may be, immediately preceding each interest payment date in the bond registration books kept and maintained by the Paying Agent, from the Dated Date (specified above) hereof until payment of said Principal Sum in full at the Interest Rate (specified above), payable semiannually on April 15 and October 15 in each year, commencing April 15, 2018.  The principal of, premium, if any, and interest on this bond are payable in any coin or currency of the United States of America which at the time of payment is legal tender for public and private debts.

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 City of Omaha is held and firmly bound, and its full faith and credit and taxing power are hereby pledged for the prompt payment of the Principal Sum of this bond and the interest accruing hereon at the time and in the amount specified, and the City of Omaha covenants that it will levy and collect such taxes as may be necessary for the payment of the principal of and the interest on this bond and of the issue of which it forms a part as the same become due, [and that the City hereby additionally pledges the moneys and investment earnings thereon, as held and invested pursuant to the Series 2017C Escrow Agreement (as such term is defined in the Ordinance authorizing the issuance of this bond), to the bonds until such date as is set forth in the Ordinance].

This bond shall not be valid or obligatory unless the Certificate of Authentication hereon shall have been manually signed by an authorized officer of the Paying Agent.

It is hereby certified, recited and declared that all acts, conditions and things required by law to be done and to exist precedent to, in order lawfully to authorize the issuance of this bond and of this series of bonds, have been properly and lawfully done and performed and do exist in regular and due form as required by the Constitution and laws of the State of Nebraska and the City Charter and ordinances of the City of Omaha and that the total indebtedness of the City of Omaha, including the issue of bonds of which this bond is a part, does not exceed the constitutional, statutory or charter limitation upon the amount of bonds which the City of Omaha is duly authorized to issue lawfully.

IN WITNESS WHEREOF, the City of Omaha, by its City Council and in the manner provided by law, has caused this bond to be signed with the facsimile or manual signatures of its Mayor and its City Clerk and registered by and with the facsimile or manual signature of the Comptroller of the City, and to have the facsimile of the City Seal imprinted hereon, all as of this ____ day of November, 2017.

Registered in the Office of the City Comptroller

______________________________

(Corporate Seal)

 

City Comptroller Mayor of the City of Omaha

Countersigned:

 

City Clerk

 

(FORM OF REVERSE OF BOND)

 

The bonds of the series of which this bond is one maturing on or prior to April 15, 2027 shall not be subject to redemption prior to their stated maturities.  The bonds of the series of which this bond is one (or portions of the principal amount thereof in installments of $5,000 or any integral multiple thereof) maturing on and after April 15, 2028 shall be subject to redemption at the option of the City of Omaha prior to their stated maturities at any time on and after April 15, 2027, in whole or in part, from time to time, in such order of maturities as shall be determined by the City of Omaha, at the principal amount thereof (or the portion of the principal amount thereof to be redeemed) and the interest accrued thereon to the date fixed for redemption without redemption premium.

[The bonds of the series of which this bond is one maturing on April 15, 20__ and April 15, 20__ are subject to mandatory sinking fund redemption from sinking fund payments prior to their respective maturity dates, at a price of par, without premium, on April 15, ____ and on each April 15 thereafter in the years and principal amounts set forth below:

Year

Principal Amount

Year

Principal Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(maturity)

]

If at any time less than all the bonds of any given maturity are called for redemption, the bonds of such maturity to be redeemed (or portions thereof to be redeemed) shall be selected in such manner as the Paying Agent deems fair.

If this bond is redeemable and this bond (or any portion of the Principal Sum hereof) shall be called for redemption, notice of the redemption hereof, specifying the series, designation, date, number, CUSIP number, interest rate and maturity of this bond, the date fixed for its redemption and the premium, if any, payable upon such redemption, and, if less than the entire Principal Sum of this bond is to be redeemed, that this bond must be surrendered in exchange for the amount hereof to be redeemed and the issuance of a new bond equaling in principal amount that portion of the Principal Sum hereof not redeemed shall be given not less than 30 days prior to the date fixed for redemption by registered or certified mail to the person whose name appears in the bond registration books as the registered owner of this bond as of the close of business on the 45th day (whether or not a business day) immediately preceding the date fixed for redemption.  If notice of the redemption hereof shall have been given as aforesaid and payment hereof duly made or provided for, interest hereon shall cease from and after the date so specified for the redemption hereof.

If this bond be of a denomination in excess of $5,000, portions of the Principal Sum hereof in installments of $5,000 or any integral multiple thereof may be redeemed, and, if less than all of the Principal Sum hereof is to be redeemed, in such case upon the surrender of this bond at the principal office of the Paying Agent, there shall be issued to the registered owner, without charge therefor, for the then unredeemed balance of the Principal Sum hereof, a registered bond or registered bonds of like series, maturity and interest rate in the denomination of $5,000 or any integral multiple of $5,000.

The bonds of the series of bonds of which this bond is part are issuable as fully registered bonds without coupons in the denominations of $5,000 and any integral multiples thereof.  Subject to the limitations and upon payment of the charges, if any, provided for in the ordinance authorizing the issuance of the series of bonds of which this bond is a part, registered bonds without coupons may be exchanged at the principal office of First National Bank of Omaha, as Paying Agent, or at the principal office of its successor as paying agent, for a like aggregate principal amount of registered bonds without coupons of other authorized principal sums and of the same series, interest rate and maturity.

This bond shall be transferable by the Registered Owner or his agent duly authorized in writing at the principal office of the Paying Agent upon surrender and cancellation of this bond, and thereupon a new registered bond or bonds without coupons of a like aggregate principal amount and of the same series, interest rate and maturity will be issued to the transferee upon payment of the transfer charge, if any.  The City of Omaha and the Paying Agent 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.

[VARIOUS PURPOSE AND REFUNDING BOND] This bond is one of a series of bonds, issued by the City of Omaha in the aggregate principal amount of [______________] Dollars ($[                 ]):  $[16,000,000] for payment of the cost of constructing streets and highways; $[1,300,000] for payment of the cost of certain public facilities; $[1,000,000] for payment of the cost of certain public safety equipment and facilities; $[4,500,000] for payment of the cost of p

arks and recreation facilities; $[2,000,000] for payment of the cost of constructing sewers and $[______________] for the cost of refunding on a current refunding basis certain outstanding indebtedness of the City of Omaha, under and pursuant to and in full conformity with the Constitution and Statutes of the State of Nebraska, including, in particular, Sections 10?142, 10?615 and 10?616, Reissue Revised Statutes of Nebraska, as amended, and the Charter of the City of Omaha and, pursuant to and in compliance with proceedings of the City Council of the City of Omaha, duly enacted and adopted.  The respective designations, issue dates and amounts designated for call of the bond issues being refunded are as follows:

Designation of Issue

Refunded Debt
Issue Dates

Amount Designated
for Call

Douglas County Sanitary and Improvement District No.

 

 

293

06/15/12

$370,000

326

01/15/13

$1,375,000

374

10/01/12

$3,450,000

382

04/15/13

$1,730,000

399

04/15/12

$940,000

412

08/15/12

$935,000

422

04/15/12

$1,095,000

458

10/15/12

$1,705,000

460

08/15/12

$335,000

462

04/15/12

$935,000

486

05/15/12

$930,000

510

12/01/12

$785,000

 

[GENERAL OBLIGATION REFUNDING BOND] This bond is one of a series of bonds, issued by the City of Omaha in the aggregate principal amount of [______________________________] Dollars ($[______________]) for payment of the cost of advance refunding certain outstanding bonded indebtedness of the City of Omaha consisting of certain general obligation indebtedness of the City of Omaha under and pursuant to and in full conformity with the Constitution and statutes of the State of Nebraska, including, in particular, Sections 10?142, 10?615 and 10?616, Reissue Revised Statutes of Nebraska, as amended, and the Charter of the City of Omaha and pursuant to and in compliance with proceedings of the City Council of the City of Omaha duly enacted and adopted.  The respective designations, issue dates and amounts designated for call of the bond issues being refunded are as follows:

 

Designation of Issue

Refunded Debt
Issue Dates

Amount Designated
for Call

Douglas County Sanitary and Improvement District No.

 

 

206

05/15/15

$905,000

281

02/15/13

$60,000

293

06/15/14

$410,000

373

05/15/13

$895,000

374

08/15/14

$1,000,000

385

03/15/15

$990,000

389

05/15/15

$695,000

394

08/15/14

$735,000

397

04/15/13

$2,060,000

398

07/15/14

$1,720,000

399

08/15/14

$2,290,000

401

07/15/15

$170,000

402

04/01/14

$1,550,000

431

04/15/15

$1,245,000

462

03/15/16

$1,115,000

486

08/15/16

$350,000

 

 

 

City of Omaha, Nebraska

 

 

Various Purpose Bonds, Series of 2011A

10/13/11

$6,650,000

General Obligation Refunding Bonds Series of 2011B

10/13/11

$1,000,000

Various Purpose and Refunding Bonds, Series of 2012A

10/12/12

$11,935,000

General Obligation Refunding Bonds, Series of 2012B

10/12/12

$220,000

Various Purpose and Refunding Bonds, Series of 2013A

09/26/13

$7,150,000

Various Purpose and Refunding Bonds, Series of 2014A

11/10/14

$9,210,000

Various Purpose and Refunding Bonds, Series of 2015A

10/22/15

$10,990,000

[GENERAL OBLIGATION CROSSOVER REFUNDING BOND] This bond is one of a series of bonds, issued by the City of Omaha in the aggregate principal amount of [______________________________] Dollars ($[______________]) for payment of the cost of crossover advance refunding certain outstanding bonded indebtedness of the City of Omaha consisting of certain general obligation indebtedness of the City of Omaha under and pursuant to and in full conformity with the Constitution and statutes of the State of Nebraska, including, in particular, Sections 10?142, Reissue Revised Statutes of Nebraska, as amended, and the Charter of the City of Omaha and pursuant to and in compliance with proceedings of the City Council of the City of Omaha duly enacted and adopted.  The designation, issue date and amounts expected to be refunded are as follows:

 

Designation of Issue

Refunded Debt
Issue Dates

Amount Designated
for Call

City of Omaha, Nebraska

 

 

Taxable Various Purpose Bonds (Build America Bonds—Direct Payment) Series 2009B

10/15/09

$9,300,000

 

(FORM OF CERTIFICATE OF AUTHENTICATION)

 

This bond is one of the bonds delivered pursuant to the within?mentioned proceedings.

FIRST NATIONAL BANK OF OMAHA,
Paying Agent

By

Authorized Officer

Dated:

 

(FORM OF ASSIGNMENT)

 

For value received, the undersigned,                               hereby sells, assigns and transfers unto                                                  (Tax Identification or Social Security No.                   ) the within?mentioned bond and all rights thereunder and hereby irrevocably constitutes and appoints                                           attorney?in?fact to transfer the same on the Books of Registry in the office of the within?mentioned Paying Agent with full power of substitution in the premises.

Dated:

Registered Owner

NOTICE:  The signature to this assignment must correspond with the name as written on the face of the within bond in every particular, without alteration or enlargement or any change whatsoever.

Signature Guaranteed:

 

NOTICE:  Signature(s) must be guaranteed by a financial institution that is a member of the Securities Transfer Agent Medallion Program (“STAMP”), the Stock Exchange Medallion Program (“SEMP”), the New York Stock Exchange, Inc. Medallion Signature Program (“MSP”) or such other “signature guarantee program” as may be determined by the Paying Agent in addition to, or in substitution for, STAMP, SEMP or MSP, all in accordance with the Securities Exchange Act of 1934, as amended.

 

Section 8.   

(a)               That the City Council of the City hereby designates for redemption the following outstanding bonded indebtedness comprising Outstanding Bonds; provided that the Finance Director may at the time of the sale of the Bonds remove an issue of Outstanding Bonds from such designation, and may reduce the amount of the Outstanding Bonds of an issue designated for call from the amount shown in the following table:

Designation of Issue

Refunded Debt
Issue Dates

Maximum Amount Designated
for Call

Redemption Price

Douglas County Sanitary and Improvement District No.

 

 

 

206

05/15/15

$    905,000

100%

281

02/15/13

$60,000

100%

293

06/15/12

06/15/14

$370,000

$410,000

100%

100%

326

01/15/13

$1,375,000

100%

373

05/15/13

$895,000

100%

374

10/01/12

08/15/14

$3,450,000

$1,000,000

100%

100%

382

04/15/13

$1,730,000

100%

385

03/15/15

$990,000

100%

389

05/15/15

$695,000

100%

394

08/15/14

$735,000

100%

397

04/15/13

$2,060,000

100%

398

07/15/14

$1,720,000

100%

399

04/15/12

08/15/14

$940,000

$2,290,000

100%

100%

401

07/15/15

$170,000

100%

402

04/01/14

$1,550,000

100%

412

08/15/12

$935,000

100%

422

04/15/12

$1,095,000

100%

431

04/15/15

$1,245,000

100%

458

10/15/12

$1,705,000

100%

460

08/15/12

$335,000

100%

462

04/15/12

03/15/16

$935,000

$1,115,000

100%

100%

486

05/15/12

08/15/16

$930,000

$350,000

100%

100%

510

12/01/12

$785,000

100%

 

 

 

Designation of Issue

Refunded Debt
Issue Dates

Maximum Amount Designated
for Call

Redemption Price

 

City of Omaha, Nebraska

 

 

 

Various Purpose Bonds, Series of 2011A

10/13/11

$ 6,650,000

100%

General Obligation Refunding Bonds, Series of 2011B

10/13/11

$1,000,000

100%

Various Purpose and Refunding Bonds, Series of 2012A

10/12/12

$11,935,000

100%

General Obligation Refunding Bonds, Series of 2012B

10/12/12

$220,000

100%

Various Purpose and Refunding Bonds, Series of 2013A

09/26/13

$7,150,000

100%

Various Purpose and Refunding Bonds, Series of 2014A

11/10/14

$9,210,000

100%

Various Purpose and Refunding Bonds, Series of 2015A

10/22/15

$10,990,000

100%

 

That from and after the date of deposit of moneys with and their investment by the Escrow Agent in accordance with the Series 2017A and B Escrow Agreement, as required by Section 1 hereof, and the giving of the notice of defeasance required herein, the Outstanding Bonds which have been specified by subsequent action of the Finance Director pursuant to Section 13 hereof shall be deemed paid, the liens, pledges, charges, dedications, covenants and agreements made by the related authorizing ordinances, resolutions or other instruments shall be fully discharged, satisfied and defeased, and such Outstanding Bonds no longer shall be considered as “outstanding” thereunder or within the meaning of Section 10?142 or Section 10?615, Reissue Revised Statutes of Nebraska, as amended, and Section 5.27(1) of Article V of the Charter for the purpose of computing the general obligation debt margin of the City.

Such Outstanding Bonds shall be redeemed in accordance with the respective proceedings authorizing the issuance thereof.  The designation of the aforesaid Outstanding Bonds, as such designation may be modified by subsequent action of the Finance Director, shall be, and is hereby made, irrevocable after the delivery of the Bonds to the initial purchasers thereof.

The Finance Director is authorized and irrevocably directed by this Council at the time of the sale of the Bonds to give separate notices of the defeasance and redemption of such Outstanding Bonds to each holder of record of such Outstanding Bonds, by submission of such notices to the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access System as shall be required pursuant to the City’s continuing disclosure undertakings in compliance with the Rule (as hereinafter defined).  The Finance Director shall file each such notice with the Escrow Agent, with the respective paying agents for the Outstanding Bonds and with the Nebraska State Auditor of Public Accounts.  Such notice(s) of defeasance shall be given within ten (10) days after the date of deposit of moneys with the Escrow Agent and shall recite that the subject Outstanding Bonds will be irrevocably called for redemption on the respective redemption or maturity dates listed in such notice and that sufficient funds and obligations of, or guaranteed by, the United States government are set aside in escrow for application, together with the interest thereon, to the complete payment of the principal of, premium, if any, and interest on such Outstanding Bonds to such redemption or maturity dates.

The principal of, premium, if any, and the accrued interest on the Outstanding Bonds referred to in subsection (a) of this Section 8 shall be paid upon the redemption date identified in the notice of redemption from the proceeds of the Bonds and other moneys, if any, deposited under and in accordance with the provisions of this Ordinance and the Series 2017A and B Escrow Agreement.  Such notices of redemption shall be given in accordance with the terms of the respective Outstanding Bonds (but no later than thirty (30) days before the respective redemption dates) and shall recite the redemption date, the redemption premium, if any, the CUSIP numbers and that interest on the subject Outstanding Bonds will cease to accrue from and after such redemption date.

(b)               That the City Council of the City hereby designates for redemption the following outstanding bonded indebtedness comprising Outstanding 2009B Bonds; provided that the Finance Director may at the time of the sale of the Bonds remove the Outstanding 2009B Bonds from such designation:

 

Designation of Issue

Refunded Debt
Issue Dates

Maximum Amount Designated
for Call

Redemption Price

 

City of Omaha, Nebraska

 

 

 

Taxable Various Purpose Bonds (Build America Bonds—Direct Payment, Series of 2009B

10/15/09

$9,300,000

100%

On the date of delivery of the Series 2017C Bonds, the Outstanding 2009B Bonds will not be defeased and will remain outstanding.  The deposit of the proceeds of the Series 2017C Bonds, along with investment earnings on such deposit, will be held (or invested) pursuant to the Series 2017C Escrow Agreement by the Escrow Agent for the benefit of the holders of the Series 2017C Bonds through December 1, 2019.  Such proceeds, shall be sufficient to pay the scheduled interest on the Series 2017C Bonds through December 1, 2019, and the principal of and accrued interest on the Outstanding 2009B Bonds on December 1, 2019 (the “Outstanding 2009B Bonds Redemption Date”). 

The principal of, premium, if any, and the accrued interest on the Outstanding 2009B Bonds referred to in subsection (b) of this Section 8 shall be paid on the Outstanding 2009B Bonds Redemption Date, as shall be identified in the notice of redemption (when such notice is issued in accordance with the ordinance authorizing the Outstanding 2009B Bonds) for such Outstanding 2009B Bonds, from the moneys for such purpose as set forth in the Series 2017C Escrow Agreement.

Such notice of redemption shall be given in accordance with the terms of the Outstanding 2009B Bonds (but no later than thirty (30) days before the Outstanding 2009B Redemption Date) and shall recite the redemption date, the redemption premium, if any, the CUSIP numbers and that interest on the subject Outstanding 2009B Bonds will cease to accrue from and after such Outstanding 2009B Bonds Redemption Date.

Section 9.  That the proceeds of the Bonds shall not be used in a manner that would cause the Bonds to be “arbitrage bonds” under Section 148 of the United States Internal Revenue Code of 1986, as amended (the “Code”).  To that end, the City shall comply throughout the term of the Bonds with the requirements of said Code and the applicable regulations of the Internal Revenue Service adopted thereunder.  The provisions of this paragraph shall be a covenant with the purchasers from time to time of the Bonds.

In addition, the City covenants to comply throughout the term of the Bonds with the following requirements:

(a)               Gross proceeds of the Bonds will not be used in a manner which will cause the Bonds to be considered “private activity bonds” within the meaning of the Code.

(b)               Except as provided in paragraph (c) below, no gross proceeds of the Bonds are reasonably expected to be used (or will be used other than inadvertently), directly or indirectly, to acquire higher?yielding investments or to replace funds which were used, directly or indirectly, to acquire “higher?yielding investments,” (i.e., any investment property which can reasonably be expected to produce a yield in excess of the yield on the Bonds.)  Records of all investments shall be maintained by the City until six years after the retirement of the last maturity of the Bonds.

(c)               The investment earnings on any bona fide debt service fund for the Bonds will be invested without regard to the yield limitations described in paragraph (b) above.  No annual rebate of the investment earnings on said fund for the period of time beginning on the anniversary of the issuance date of the Bonds of a given year and ending on the day next preceding such anniversary date in the immediately subsequent year (the “Bond Year”) will be made unless the earnings on said fund for such period equals or exceeds $100,000.  If earnings equal or exceed such amount, the entire annual earnings on said fund shall be rebated.

(d)               The Bonds shall not become directly or indirectly federally guaranteed.  The Bonds will be considered to be “federally guaranteed” if the payment of principal or interest with respect to such Bonds is guaranteed (in whole or in part) by the United States (or any agency or instrumentality thereof) or 5% or more of the proceeds of such Bonds are used in making loans the payment of principal or interest with respect to which is guaranteed or invested (directly or indirectly) in federally insured deposits or accounts.

(e)               All nonrefunding proceeds of the Bonds (other than amounts invested in the Rebate Fund (defined below) and any debt service fund for the Bonds) shall be expended within the shorter of three years after the date of issue of the Bonds or the temporary period provided by the Code.

(f)               The City shall establish a trust fund (the “Rebate Fund”) pursuant to this Ordinance for the purpose of accepting deposits of rebate amounts which may occur by operation of the limitations described in paragraphs (b) and (c) above.  The City shall provide not later than 30 days after the fifth Bond Year and every five years thereafter for payment to the United States of 90% of the amounts deposited to said fund and 100% of the investment earnings on said deposits.  Not later than 60 days after the final retirement of the Bonds, the City shall pay 100% of the remaining balance of said fund to the United States.  Each payment shall be filed with the Internal Revenue Service Center, Ogden, Utah 84201.  Each payment shall be accompanied by a copy of Form 8038?T and a statement summarizing the determination of the amounts paid and to be paid to the United States.

Section 10.  That this Council finds and determines and hereby declares that:

(a)               The marketing of the Bonds entails an educational process of informing securities dealers and investors about the attributes of such Bonds; the Bonds are substantial in amount; the Bonds include advance refunding bonds and, under the regulations promulgated under the Code, it is virtually impossible to determine the exact principal amount of bonds to be issued to defease the Outstanding Bonds without prior knowledge of the interest rates attached to such advance refunding bonds; there is great uncertainty of future market conditions which militate against formally advertising the Bonds for sale on a predetermined future date and prevent the organization of an orderly market at reasonable interest cost; and it is in the best interest of the City that the sale of such Bonds be negotiated; and

(b)               This Council hereby ratifies the selection of D.A. Davidson & Co. (the “Underwriter”) to serve as underwriter for the Bonds and authorizes the Finance Director to enter into negotiations concerning the sale of such Bonds and to enter into a purchase contract in relation thereto with the Underwriter, the form and substance of which shall be subject to the approval of  this Council by a subsequent resolution.

Section 11.  The City (a) authorizes and directs the Mayor, or in the Mayor’s absence, the Finance Director to execute and deliver, on the date of the issuance of the Bonds, a Continuing Disclosure Certificate (the “Disclosure Certificate”) in such form that satisfies the requirements of Rule 15c2-12 of the Securities Exchange Act of 1934 (the “Rule”) and is acceptable to the Underwriter and (b) covenants that it will comply with and carry out all of the provisions of the Disclosure Certificate.  Notwithstanding any other provisions of this Ordinance, failure of the City to comply with the Disclosure Certificate will not be considered a default under this Ordinance or the Bonds; however, any Bondholder or Beneficial Owner may take such actions as may be necessary and appropriate, including seeking mandate or specific performance by court order, to cause the City to comply with its obligations under this subparagraph and the Disclosure Certificate.

Section 12.  That, if, when the Bonds secured hereby shall have become due and payable in accordance with their terms or shall have been duly called for redemption or either irrevocable instructions to call the Bonds for redemption or to pay the Bonds at their respective maturities or redemption dates or any combination of such payment and redemption shall have been given by the City to the Paying Agent or an appropriate fiduciary institution acting as escrow agent, the whole amount of the principal, interest and premium, if any, so due and payable upon all of the Bonds then outstanding shall be paid or sufficient moneys, or direct obligations of, or obligations the full and timely payment of, the principal of and the interest on which are unconditionally guaranteed by, the United States of America (the “Government Obligations”) the principal of and the interest on which when due will provide sufficient moneys to pay at maturity or to redeem all of the Bonds together with all interest accrued and to accrue thereon to dates of maturity, or redemption, shall be held by such escrow agent or the Paying Agent for such purpose under the provisions of this Ordinance, and provision shall also be made for paying all other sums payable hereunder by the City, then and in that case the right, title and interest of the Bondholders of the Bonds secured hereby in the funds and accounts mentioned in this Ordinance shall thereupon cease, determine and become void on that date without further action of the Council, and the City may apply any moneys on deposit in any fund or account relating to the Bonds, other than moneys held for the redemption or payment of the Bonds, as provided in Section 1 hereof, and moneys held in the Rebate Fund; otherwise this Ordinance shall be, continue and remain in full force and effect; provided, however, that in the event Government Obligations shall be deposited with and held by such escrow agent or the Paying Agent as hereinabove provided, and in addition to the requirements set forth in Section 1 of this Ordinance, the City Clerk shall within 30 days after such Government Obligations shall have been deposited with such escrow agent or the Paying Agent cause a notice signed by the Paying Agent or escrow agent to be mailed by first class mail to each registered owner of the Bonds setting forth (a) the date designated for the redemption of the Bonds or a statement to the effect that such Bonds are to be paid at their respective maturities, (b) a description of the Government Obligations so held by such escrow agent or the Paying Agent, and (c) that this Ordinance has become void in accordance with the provisions of this Section.

All moneys and obligations held by such escrow agent or the Paying Agent pursuant to this Section shall be held in trust and the principal and interest  of said obligations when received, and said moneys, applied to the payment, when due, of the principal of, interest on and premium, if any, on the Bonds so called for redemption.

Section 13.  That 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, subject to the provisions of this Ordinance, the following terms in connection with the Bonds: (1) the aggregate principal amount of the Bonds to be issued, not exceeding the aggregate principal amount set forth in Section 1, (2) the years in which a principal maturity of the Bonds shall occur and the principal amount of the Bonds to mature on April 15 of each of such years or such other dates as he or she may determine, (3) the date of final maturity of the Bonds, which shall in no event be later than December 31, 2037, (4) the date or dates upon which the Bonds shall be sold, (5) the rate or rates of interest to be carried by each maturity of the Bonds, such that the true interest cost of the Bonds shall not exceed 5.00% per annum, (6) the method, if any, by which such rate or rates of interest shall be calculated and the first interest payment date for the Bonds, (7) the purchase price for each series of the Bonds, which shall be no less than 98% of the principal amount thereof (including an underwriting discount of not to exceed 0.60%), (8) the redemption dates and prices of the Bonds and all terms relating thereto, if any, and (9) the amount of the Outstanding Bonds to be refunded with the proceeds of the Bonds on the redemption dates or maturity dates set by the Finance Director, subject to the limitations set forth in Section 8 hereof.

Section 14.  That the Finance Department of the City and all officials of the City are hereby authorized to take such action and execute such orders, receipts, certificates and other documents as may be necessary in order to effectuate the sale and delivery of the Bonds or any portion thereof and the preparation and execution of the Bonds in accordance with this Ordinance and applicable law.  It is also directed that a transcript be prepared of all proceedings on which rests the authority of the City Council to issue and sell the Bonds.

Section 15.  That all of the Series 2017A Bonds which are general obligation various purpose bonds were authorized for issuance by the electors of the City, that the certificates of official returns showing the favorable results of balloting with respect to those Series 2017A Bonds authorized by the electors have been certified to the City by the Election Commissioner; that the Series 2017B Bonds, the Series 2017C Bonds and the refunding portion of the Series 2017A Bonds are being issued to refund validly issued and outstanding indebtedness of the City; that the Charter provides for the issuance of general obligation refunding bonds for the purpose of refunding outstanding indebtedness of the City; that the Series 2017B Bonds, the Series 2017C Bonds and the refunding portion of the Series 2017A Bonds, which are general obligation refunding bonds, do not require authorization by the electors of the City for issuance; that this Ordinance is therefore declared to be administrative (not legislative) in character and that, 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: September 19, 2017; Second Reading and Public Hearing: September 26, 2017; and, Third Reading: October 3, 2017.

 PASSED: October 3, 2017, 6-0

 APPROVED BY:

 BEN GRAY

 ACTING MAYOR OF THE

 CITY OF OMAHA

 

Elizabeth Butler

City Clerk

 

10-11-17

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