2219ORDINANCE NO. 2219
COUNCIL MEMBER WOLFF INTRODUCED THE FOLLOWING RESOLUTION:
A SUPPLEMENTAL ORDINANCE AMENDING ORDINANCE NO. 2217 OF
THE CITY RELATING TO THE AUTHORIZATION OF THE ISSUANCE OF
WATER SYSTEM REVENUE BONDS, SERIES 2012 OF THE CITY OF
BLAIR, NEBRASKA, IN THE AGGREGATE PRINCIPAL AMOUNT OF UP
TO NINE MILLION FIVE HUNDRED THOUSAND DOLLARS ($9,500
PROVIDING AS AN OPTION FOR THE CITY TO ISSUE ANY OR ALL OF
SAID BONDS AS TAXABLE BONDS; AUTHORIZING THE CITY TO
APPLY A PORTION OF THE PROCEEDS TO REFUND CERTAIN
TEMPORARY INDEBTEDNESS (IN ADDITION TO OTHER PURPOSES
AUTHORIZED IN ORDINANCE NO. 2217); OTHERWISE AFFIRMING AND
RATIFYING ORDINANCE NO. 2217; AND PROVIDING FOR
PUBLICATION OF THIS SUPPLEMENTAL ORDINANCE IN PAMPHLET
FORM.
BE IT ORDAINED BY THE MAYOR AND THE CITY COUNCIL OF THE CITY OF
BLAIR, NEBRASKA:
Section 1. The Mayor and City Council (the "Council ") of the City of Blair,
Nebraska (the "City ") hereby find and determine:
(a) By Ordinance No.2217 (the "Authorizing Ordinance "), the Mayor
and Council authorized the issuance and sale of up to $9,500,000 of Water
System Revenue Bonds, Series 2012 (the "Bonds ") on the terms set forth in the
Authorizing Ordinance; and
(b) The Authorizing Ordinance contemplates that the Bonds will be
issued as bonds, the interest on which is exempt from income for federal income
tax purposes ( "Tax- Exempt Bonds "); and
(c) Given current market conditions, it may be advantageous to the
City to issue some or all of the Bonds as taxable bonds ( "Taxable Bonds "); and
(d) The Council desires to supplement the Authorizing Ordinance as
provided in this Supplemental Ordinance to provide the City with the option of
issuing some or all of the Bonds as Taxable Bonds or Tax - Exempt Bonds; and
(e) Capitalized terms used in this Supplemental Ordinance and not
otherwise defined herein shall have the meanings provided in the Authorizing
Ordinance.
Section 2. As and to the extent provided in the Bond Purchase Agreement, the Bonds
may be issued as Tax - Exempt Bonds, Taxable Bonds, or a combination of Tax - Exempt Bonds
and Taxable Bonds. Bonds issued as Taxable Bonds shall be designated "Water System
Revenue Bonds, Series 2012 (Taxable Series)" (or other designation set forth in the Bond
Purchase Agreement indicating that such Bonds are Taxable Bonds). The provisions of Sections
20 and 22 of the Authorizing Ordinance shall not apply to any Bonds which are issued as
Taxable Bonds. The Bond Purchase Agreement may provide for the establishment of separate
funds and /or accounts relating to Taxable Bonds and Tax - Exempt Bonds, as deemed appropriate
by such officers.
Section 3. In addition to the purposes set forth in Section 1 of the Authorizing
Ordinance, the City is hereby further authorized to apply the proceeds of the Bonds to repay
temporary indebtedness of the City incurred to pay costs of enlargements, expansions and
improvements to the existing waterworks plant and system of the City in the aggregate principal
amount of up to $500,000. The officers of the City are hereby authorized and directed to do all
things and execute all such documents as may by them be deemed necessary and proper to repay
such temporary indebtedness.
Section 4. As modified by this Supplemental Ordinance, the Authorizing Ordinance
is hereby ratified, confirmed and approved in all respects. Any and all actions taken by the City
or any officer thereof in furtherance of the Authorizing Ordinance or this Supplemental
Ordinance, are hereby ratified, confirmed and approved in all respects.
Section 5. The Council hereby approves and deems final on behalf of the City the
form of Preliminary Official Statement with respect to the Bonds presented herewith, and hereby
authorizes the Mayor or any member of the Council: (a) to approve and deem final a final form
of Preliminary Official Statement including such changes, modifications and /or completions as
such officers deem necessary or appropriate, and (b) to approve and deem final, execute (as
required) and deliver on behalf of the City a final Official Statement relating to and describing
the Bonds.
Section 6. The Mayor and City Clerk of the City are hereby authorized to do all
things and execute all such documents as may by them be deemed necessary and proper to
complete the issuance and sale of the Bonds as contemplated by the Authorizing Ordinance as
supplemented by this Supplemental Ordinance.
Section 7. If any section, paragraph, clause or provision of this Supplemental
Ordinance shall be held invalid, the invalidity of such section, paragraph, clause or provision
shall not affect any of the other provisions of this Supplemental Ordinance.
Section 8. This Supplemental Ordinance shall be published in pamphlet form. This
Supplemental Ordinance is hereby determined to be a measure necessary to carry out the City's
contractual obligations as provided for in the Authorizing Ordinance and shall be in force and
take effect from and after its passage and approval according to law.
PASSED AND APPROVED this 24th day of April, 2012.
CITY OF BLAIR, NEBRASKA
J S E. REALPH, MAYOR
l
ATTEST:
ER�ENDA R. WHEELER, CITY &LERK
(SEAL)
STATE OF NEBRASKA )
) :ss:
WASHINGTON COUNTY )
BRENDA R. WHEELER hereby certifies that she is the duly appointed, qualified and acting
City Clerk of the City of Blair, Nebraska, and that the above and foregoing ordinance was passed
at a regular meeting of the Mayor and City Council of said City held on the 13th day of March,
2012.
BRENDA R. WHEELER, CITY CLERK