03/22/2016 Resolutions 2016-68RESOLUTION 2016-68
WHEREAS, the City of Grand Island entered into a Participation Power Agreement
with the OmahaPublic Power District (OPPD) on January I5, 2004 to acquire 5% or approximately
30 megawatts of the capaciry of OPPD's Nebraska City Power Plant addition referred to as NC2; and
V✓HEREAS, 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
Sepazate Electric System Revenue Bonds (OPPD Bonds); and
WHERCAS, as a part of the process of arranging financing for the OPPD Bo�ds,
OPPD has requested ihat the City execute a Conlinuing Disclosure Agreement and a Certificate of
Participant.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
TH� CITY OF GRAND ISLAND, NEBRASKA, that:
L The Mayor and Council hereby Snd and determine that the CiYy has enteced into a
Par[icipation Power Agreement (the "AgreemenY') with Omaha Public Power Dishict
("OPPD") with respect to the purehase of power from a coa] fixeled generatiug unit that has
— been constructed at OPPD's Nebraska City, Nebraska plant location; that for purposed of
carrying out its obligarions undec the Ageement, OPPD is cuaenUy issuing iCS Separate
Electric System Revenue Bonds (Nebraska Ciry), 2016 Series A, (the "OPPD Bonds") and
has requested that the City execute a�d deliver a Continuing Disclosure Agreement for
purposes of assisting OPPD and its underwrite�s in carrying ouY their obligaYions under Rule
15c2-12 of the Securities and Exchange Commissiou and for t6e CiTy to deliver certain
certiScations W OPPD in cocmection with its issuance of the OPPD Bonds; and that
documents for approval by the Mayor and Council have been prepazed and presented as
follows:
(a) Continuing Disclosure Agreement between the City and OPPD (in the
sepazate capaciry of Dissemination Agent) to be dated as of April 13, 2016; and
(b) CerCificaYe of Participant, to be dated tLe date of issuance ofthe OPPD Bonds
(the documents described in (a) and (b) aze referred Yo as rhe "City Closing
Documents");
and that the Ciry Closing Documents aze in acceptable form and should be approved and their
execution and delivery� authorized.
2. The AgreemenC is hereby raCified and confirmed in all respecCS 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 Ciry.
npproveE as to Form
Marcn 21, 2018 Clry orney
3. 7'his resolution is hereby determined to be a measure necessary to carry out the
obligations of the City under Yhe Agrcemen[ and shall be in force and effect immediately upon
its passage and approval.
PASSED AN� APPROV�D by the Ciry Council of t�he City of Grand Island,
Nebraska, Mazch 22, 2016.
Attest:
Re-� I ��J .�m r?.C� .
RaNae Edwazds, City Clerk
-2-
�MNn�
ere L. J eq Mayor