2269ORDINANCE NO. 2269
COUNCIL MEMBER WOLFF INTRODUCED THE FOLLOWING ORDINANCE:
AN ORDINANCE AMENDING ORDINANCE NO. 2267 PREVIOUSLY ADOPTED BY THE
MAYOR AND COUNCIL OF THE CITY ON NOVEMBER 11, 2014 (THE 44 2014 ORDINANCE ")
RELATING TO THE CITY'S FLOOD CONTROL BOND ANTICIPATION NOTES, SERIES
2015; PARTICULARLY AMENDING AND RESTATING SECTION 14 THEREOF;
OTHERWISE RATIFYING AND AFFIRMING THE 2014 ORDINANCE; DETERMINING THIS
ORDINANCE TO BE A MEASURE NECESSARY TO CARRY OUT CONTRACTUAL
OBLIGATIONS OF THE CITY; AND PROVIDING FOR PUBLICATION OF THIS ORDINANCE
IN PAMPHLET FORM
BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF BLAIR,
NEBRASKA:
Section 1. The Mayor and Council of the City of Blair, Nebraska (the "City ") hereby find
and determine that by ordinance duly passed and adopted on November 11, 2014 and the
Designation Fixing and Establishing Terms dated December 23, 2014 (together, the "2014
Ordinance ") the issuance of the principal amount of up to $3,500,000 of Flood Control Bond
Anticipation Notes, Series 2015 (the "Series 2015 Notes ") was authorized to build, construct and
improve certain dams, dikes, levees, drainways, channels, structures, devices, storm water sewers
and systems, and other works and appurtenances thereto and paying costs of issuance of said notes;
and that it is appropriate to amend and restate Section 14 of the 2014 Ordinance.
Section 2. Section 14 of the 2014 Ordinance is hereby amended and restated in its entirety as
follows:
Section 14. The City hereby covenants to the purchasers and holders of the Notes
hereby authorized that it will make no use of the proceeds of said Note issue, including
monies held in any sinking fund for the Notes, which would cause the Notes to be arbitrage
bonds within the meaning of Sections 103(b) and 148 of the Internal Revenue Code of 1986,
as amended (the "Code ") and further covenants to comply with said Sections 103(b) and 148
and all applicable regulations thereunder throughout the term of said issue. The City hereby
covenants and agrees to take all actions necessary under the Code to maintain the tax- exempt
status of interest payable on the Notes with respect to taxpayers generally but not including
insurance companies or corporations sub j ect to the additional alternative minimum tax. The
City hereby designates the Notes as its "qualified tax - exempt obligations" pursuant to
Section 265(b)(3)(B)(i)(III) of the Code and covenants and warrants that it does not
anticipate issuing tax- exempt obligations in calendar year 2015 in an amount in excess of
$10
Section 3. The 2014 Ordinance, as amended hereby, is hereby ratified and affirmed in all
respects. If any section, paragraph, clause or provision of this Ordinance shall be held invalid, the
invalidity of such section, paragraph, clause or provision shall not affect any of the other provisions
of this Ordinance.
of this Ordinance.
Section 4. This Ordinance is declared to be a measure necessary to carry out contractual
obligations of the City, including obligations relating to the issuance and sale of the Series 2015
Notes and the projects to be financed thereby, which obligations were previously approved by
measures subject to referendum or limited referendum under Section 18-2501 et seq., R.R.S. Neb., as
amended. This Ordinance shall be published in pamphlet form and shall be in force and take effect
from and after its passage and approval according to law.
Passed and approved this 13th day of January, 2015
CITY OF BLAIR, NEBRASKA
BY
JAM E'S REALPH, MAYOR
—1
ATTEST:
BRENDA R. W1 3 LER, CITY CLERK
(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 and
approved at a regular meeting of the Mayor and City Council of said City held on the 13 day of
January, 2015.
BRENDA R. WHEELER, CITY CLERK