02/24/2015 Resolutions 2015-45 RESOLUTION 2015-45
WHEREAS,the City of Grand Island entered into a Participation Power Agreement
with the Omaha Public Power District(OPPD)on January 15,2004 to acquire 5%or approximately
30 megawatts of the capacity of OPPD's Nebraska City Power Plant addition referred to as NC2;and
WHEREAS, the City of Grand Island determined that the City's best option for
financing the City's portion of OPPD NC2 Power Plant was through the issuance by OPPD of
Separate Electric System Revenue Bonds (OPPD Bonds); and
WHEREAS, as a part of the process of arranging financing for the OPPD Bonds,
OPPD 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 deteiniine 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 that has
been constructed at OPPD's Nebraska City, Nebraska plant location; that for purposed of
carrying out its obligations under the Agreement, OPPD is currently issuing its Separate
Electric System Revenue Bonds (Nebraska City), 2015 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
15c2-12 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 March 11,2015;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 foliti and should be approved and their
execution and delivery authorized.
2. The Agreement is hereby ratified and confiimed in all respects and the Mayor(or in
his absence, the President of the Council) is hereby authorized to execute and deliver the
Closing Documents on behalf of the City.
Approved as to Form a
February 21,2015 0 City orney
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.
PASSED AND APPROVED by the City Council of the City of Grand Island,
Nebraska, February 24, 2015.
eremy L nsen, Mayor
Attest:
RaNae Edwards, City Clerk
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