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We have a required quorum. Will you please stand for the pledge of allegiance?

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Pledge of allegiance.

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I pledge allegiance to the flag of the United States of America, and to the

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Republic for which it stands, one nation under God, indivisible, with liberty

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and justice for all.

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Please remain standing for a moment of silence.

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You may be seated.

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Welcome, everyone. Good afternoon.

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Any comments, Jim? Okay, we'll move on to the consent agenda.

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Motion to approve consent agenda.

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Second.

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All in favor?

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Aye.

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Aye.

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Opposed? Passed consent agenda.

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Very good. Thank you. So we have one new business item today and one public

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hearing. The first new business is adoption of Resolution 2027-03, amending

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Resolution 2026-50 regarding the issuance of special assessment revenue bonds.

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So for that, I'll ask Ms. Taylor to introduce the topic, and then we will then go

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on to our assessment engineer consultants to give you any updates as needed. Ms.

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Taylor?

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There's a spider on the podium.

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Uh-oh.

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So I will stand over here.

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Good afternoon. Jennifer Taylor with Barrett Allison Consulting and Design Council.

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I'm terrified of spiders.

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As you will recall, you previously adopted Resolution 2026-50 to

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authorize the issuance of the... Thank you, Mr. Blocker.

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2026 bonds. That is a big one on me.

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And to delegate to the chair or the vice chair the authority to award those bonds

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following pricing. As we discussed at that point, we never know exactly the terms

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of those bonds until we actually price them.

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So the resolution sets forth certain parameters which must be met in order for the

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bonds to be awarded. Since the time that resolution was adopted, the markets have

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been

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turbulent. And so in order to give the board a little bit more

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flexibility and to ensure that we don't have a situation where interest rates

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increase above the prior parameters that we had established, this resolution would

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amend the one parameter which is the interest rate from 6% to 7%.

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So that is reflected here in the resolution.

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The remaining terms of

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the delegation resolution stay the same.

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So if you have any questions about that, happy to answer them now that I can stand

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in front of the podium again.

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Any questions?

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No.

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No, that's fine.

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Okay. Then at this time, you can make a motion.

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Need a motion to approve.

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Motion to approve Resolution 2027-03, amending Resolution

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2026-50 regarding the issuance of special assessments revenue bonds,

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Series 2026.

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Second.

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All in favor?

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Aye.

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Aye.

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Opposed? Passed.

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Thank you.

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Thank you.

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The next item, Madam Chair, is a public hearing.

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And for the public hearing, we'll be seeking the adoption of Resolution 2027-04,

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authorizing the district improvement equalization, approving, certifying,

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confirming, and levying special assessments on property within phase two of the

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district. For that, I don't know if Ms.

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Taylor wants to go over a brief overview of the resolution, and then we could have

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our consultants just give any quick updates.

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We can then open up the public hearing, take any public comment, and then close it

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if there is no public comment. So, Ms. Taylor.

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Thank you. So again, by way of recap, you previously adopted two resolutions as

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part of the Chapter 170 assessment process.

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The first declared the district's intent to levy assessments to finance the 2026

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project, and the second resolution set a public hearing, which is here today, and

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that has been duly published and noticed.

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This resolution essentially is the second and final step in the Chapter 170

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process. As Mr. Blocker indicated, we'll hold a public hearing, at which point

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members of the public may make any comments on the assessment process.

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Once the public hearing is closed, we can return to this resolution.

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This would essentially equalize and levy the assessments and officially put them in

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place to serve as security for the bonds once issued.

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Again, happy to answer any questions.

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Otherwise, I will turn it over to the consultants.

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We have slight updates, for the record, to the methodology and the engineer's

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report versus the reports that were presented

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at your prior meeting. And again, those relate back to the adjustment upward in

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interest rates that we are seeing in the markets.

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So I'll reference CFP just real quick if there's any updates to the previous

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engineer's report.

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Good afternoon. Bruce Nelson with Tucker Barnhill & Barney.

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From the engineer's report provided, dated August 13th, 2026, we don't have any

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updates to report. Everything remains the same.

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And then Mr. Plenzler will give an update to the assessment methodology if you

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would.

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For the record, Kevin Plenzler, PFM Financial Advisors. Yeah, as Ms.

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Taylor had mentioned before, given the market conditions in August compared to

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where we are today, we have updated the methodology report.

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With respect to table four of the document, you'll see the increase in interest

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rate from 6% to 7%.

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This results in an increase to the maximum annual debt service.

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It does not impact the par amount of bonds. Yeah, one more table, please.

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Table four.

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There we go. Yeah, you'll see that there's 7% there on the average coupon rate

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rather than 6%. As a result, the maximum annual debt service increased to the 14.4

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number, which was previously just over 13 million. That's about an 11% increase.

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That's reflected in table seven with an increase in all the annual assessments to

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various property types. And that just gives us a little flexibility given where the

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interest rates will move going forward.

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We don't expect to have to go all the way to 7% when we issue the bonds, but it

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gives us flexibility to do so. But other than that, no other substantive changes to

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the document.

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Thank you.

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Madam Chair, I just ask you to open up the public hearing, take any public comment

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as requested.

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We'll open it up for public hearing.

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Any comments, questions?

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If not at this time, we will close the public hearing. Thank you.

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And then any comments from supervisors or questions?

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Hearing none, we will just seek adoption of Resolution 2027-04.

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Motion to approve Resolution 2027-04 authorizing district improvements, equalizing,

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approving, certifying, confirming, and levying special assessments on property

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within phase two.

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Second.

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All in favor?

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Aye.

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Aye.

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All opposed? Passed.

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Very good. Thank you.

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The next are information items. If there's any questions we can address or move on

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to my report.

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Any questions on the information items?

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Just real quick, I'll give you an update on pricing, but real quick, there's

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Government Day on November 7th, although we'll be meeting again on November 2nd, I

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believe. So we can give you that update as well or remind you of that calendar

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for Government Day. It's at Eisenhower on November 7th, heavily attended event.

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But just to give you an update on the bond issuance, so we will be doing pricing

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October 20th. That is the date that is slated, which is a week from today.

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So we hope to have a good day in the market. That's what Mr.

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Baldwin is predicting for us, we know. So we are hopeful.

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And then once we do price, we will come back at your November 2nd meeting, and

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we'll give you an update on pricing, any final approvals that we may need, and then

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we'll close it out. After that meeting is when we'll ask for you, Madam Chair, to

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sit with us and go through all the closing documents to sign your name, and then

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the final closing will be October... I mean, November 4th.

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So we're straddling Election Day.

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Right.

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So with that, those are all my updates.

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So remember, pricing next Tuesday, and then we'll come back November 2nd.

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November 2nd meeting is in Brownwood, so it's at my office in Brownwood at

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9:00 AM. All right. With that, there's no more reports.

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No district council reports.

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Thank you.

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Motion to adjourn.

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Second.

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All in favor?

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Aye.

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Aye.

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Adjourned.

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All right. Thank you.

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Thank you.