09/26/2006 Resolutions 2006-272
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RES 0 L UTI 0 N 2006-272
WHEREAS, the City of Grand Island has entered into a Participation Power
Agreement with the Omaha Public Power District (OPPD) dated January 15,2004 to acquire 5% or
approximately 30 megawatts ofthe capacity ofOPPD's Nebraska City Power Plant addition referred
to as NC2; and
WHEREAS, subsequent to the date of this agreement, the City of Grand Island has
determined that the City's best option for financing the City's portion of Omaha Public Power
District's NC2 power plant is through the issuance by OPPD of Separate Electric System Revenue
Bonds (OPPD Bonds); and
WHEREAS, as part of the process of arranging financing for the OPPD Bonds, the
Omaha Public Power District has requested that the City execute a Continuing Disclosure
Agreement and a Certificate of Participant.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that:
1. The Mayor and Council hereby find and determine that the City has entered into a
Participation Power Agreement (the "Agreement") with Omaha Public Power District ("OPPD")
with respect to the purchase of power from a coal fueled generating unit to be constructed at OPPD's
Nebraska City, Nebraska, plant location; that for purposes of carrying out its obligations under the
Agreement, OPPD is currently issuing its Separate Electric System Revenue Bonds (Nebraska
City2), 2006 Series A, (the "OPPD Bonds") and has requested that the City execute and deliver a
Continuing Disclosure Agreement for purposes of assisting OPPD and its underwriters in carrying
out their obligations under Rule 15c2-l2 of the Securities and Exchange Commission and for the
City to deliver certain certifications to OPPD in connection with its issuance of the OPPD Bonds;
and that documents for approval by the Mayor and Council have been prepared and presented as
follows:
(a) Continuing Disclosure Agreement between the City and OPPD (in the
separate capacity of Dissemination Agent) to be dated as of September 26, 2006; and
(b) Certificate of Participant, to be dated the date of issuance of the OPPD Bonds
(the documents described in (a) and (b) are referred to as the "City Closing Documents");
and that the City Closing Documents are in acceptable form and should be approved and their
execution and delivery authorized.
2. The Agreement is hereby ratified and confirmed in all respects and the Mayor (or in
his absence the Present of the Council) is hereby authorized to execute and deliver the Closing
Documents on behalf of the City.
Approved as to Form a
September 26, 2006 a City Attorney
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3. This resolution is hereby determined to be a measure necessary to carry out the
obligations of the City under the Agreement and shall be in force and effect immediately upon its
passage and approval.
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PASSED AND APPROVED by the City Council of the City of Grand Island, Nebraska, September
26, 2006.
ATTEST:
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RaNae Edwards, City Clerk
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