[0:02] Oh, there we go. I was waiting for the notification already. Well, welcome to today's combined special meeting for Firefly Public Infrastructure District numbers one through ten, taking place on Tuesday, March 17th, 2026 at 1 p.m., Mountain Standard Time, at Blackwood Advisors, LLC, 2265, Murray Holiday Road, Suite 107, Holiday Utah, 84117.

[0:30] We have included a Teams meeting link for those who are joining virtually.

[0:35] We also have Andrea in the physical office for any members of the public or board

[0:41] that may have wanted to attend in person.

[0:44] And since this is a public hearing, we have posted the notice and agenda

[0:49] over seven days in advance of this meeting, both on the Blackwood Advisors Office

[0:54] as well as the posting website.

[0:57] So, first, if I can ask for a call to order, the meeting has started at 1.05 p.m. Mountain Standard Time, and let's get a roll call of everyone here.

[1:09] My name is Jacqueline Kling with Blackwood Advisors.

[1:16] My name is Brian Flam, I'm a board member.

[1:20] My name is Nate Ship, I'm a board member.

[1:25] Tom Jolly District Council.

[1:26] and guest blackwood advisor.

[1:31] Sorry.

[1:32] Go ahead.

[1:33] Go ahead, ma'am.

[1:34] Pam gives blackwood advisors.

[1:37] And Lauren Warburton with CLA District Accountants.

[1:41] She and a bit of our Tom's always paralegal.

[1:44] Darcy Stevens with Gilmour Bell, Bond Council.

[1:50] Andrea Ashdown, blackwood advisors here in the Utah office.

[1:56] Perfect.

[1:57] Thank you.

[1:57] And then we can move to the preliminary action items to consider a combined

[2:03] board meeting for Firefly Public Infrastructure District numbers 1 through 10. Do I have a motion

[2:09] to combine the meeting today? This is nature if I still move to this Brian Flamm, I'll second it.

[2:18] Awesome. An all in favor vote all right? All right.

[2:24] Perfect. Thank you. And then moving to the

[2:27] consent items, we will approve the draft for minutes of the Firefly Public Infrastructure District

[2:32] numbers one through 10 board meeting that was held on January 16th, 2026. You guys should

[2:39] have received this over the weekend. Did you have a chance to review? Do you have any questions

[2:45] or updates before we approve and send for signature?

[2:52] No questions from me. No.

[2:55] Okay. Do I have a motion to approve the minutes from the last board meeting?

[3:01] This is made. I still move. Second. Perfect. Thank you. Next we will approve and ratify payment

[3:09] applications and requisition requests made since the last board meeting. There was one requisition,

[3:16] number 28 for the amount of $43,062 and 85 cents. Were there any questions or comments or do I have

[3:26] a motion to approve this requisition.

[3:31] No comments, your questions?

[3:32] I still move to approve.

[3:35] So I'll second the motion.

[3:37] Perfect.

[3:38] Sorry, I need to say all in favor vote aye.

[3:40] Aye.

[3:42] Perfect.

[3:43] Thank you.

[3:44] Next, we will move to a public hearing.

[3:48] Do I have a motion to open the public hearing?

[3:51] I have a motion to open the public hearing.

[3:54] Perfect.

[3:55] Second.

[3:56] And all in favor?

[3:58] All right.

[3:59] Thank you.

[4:01] And this public hearing is to take public comment on the

[4:04] tentative amended 2025 operating and capital budget for

[4:08] fire, philanthropic, and public infrastructure district number one

[4:11] adopted on January 16, 2026, which is proposed to be adopted

[4:17] as the amended final in operating capital budget for a

[4:21] calendar year of 2025.

[4:23] And I will let Lauren go over these budget amendments.

[4:27] Did you want me to share my screen or would you like to take control of it?

[4:32] Yeah, go ahead and just scroll down.

[4:36] And we can discuss here. That's perfect. Thank you.

[4:40] Yeah.

[4:41] So board, I don't think any additional changes have been made sense.

[4:46] You've seen in January, but just to kind of recap here.

[4:51] For 2025, expenses did come in just a little bit higher than we had originally anticipated

[4:58] for a few line items.

[5:01] So here in the debt service fund, originally we had had just over 3.9 million in the

[5:08] total worth expenditures.

[5:10] We are amending that to just over 7.4 million for that last line there, the bond principle.

[5:17] and this relates to the prepayments on the bonds that require that mandatory

[5:26] reduction on related to those payments. Everything else was in line there, but

[5:34] just wanted to make a note of that last line item. Are there any questions on the

[5:40] amendment, I guess, for the debt service fund first?

[5:46] I don't have any questions.

[5:49] And the other proposed amendments to the general fund, originally total expenditures

[5:56] were set at 75,000 and we did increase that to 100,000 primarily for the district management

[6:04] costs, going from 21,000 up to 50,000 and Pam might be able to speak a little bit better

[6:11] to this, but I believe it's mostly related to the assessment administration and the work

[6:16] that went into that. Certainly, like, as their panel just that, yeah, when we originally submitted,

[6:24] we were doing the assessment role, which I think we quoted at about 28,000, then we picked up

[6:30] the district management part of that from Tom's group. He had been doing that in the past. And so

[6:37] that added to the budget part of that is just a shift from legal into district management. So you'll

[6:45] start to see legal go down over time unless specific things pop up and we'll be taking over that.

[6:53] So it was just really a largely a shift of roles. The other thing that I will point out is we did

[6:59] wind up spending more time than we had originally anticipated trying to straighten out the Utah County

[7:06] mess when they didn't accurately reflect the imposition of the district on all of the lots.

[7:13] So, that's not anticipated to continue in the future.

[7:19] Yeah, makes sense.

[7:24] Perfect.

[7:25] And I don't want you to add there unless there are additional questions.

[7:37] I don't have any additional questions.

[7:42] Okay.

[7:43] All right.

[7:44] Do I have a motion to close the public hearing at this time?

[7:48] I so move.

[7:50] I'll second it.

[7:52] All in favor?

[7:54] Hi.

[7:55] Thank you. And then moving into our action items, which would be consider adoption of this resolution

[8:01] 2026-02, a resolution adopting the amended final operating capital budget for calendar year,

[8:08] 2025, four or five five public infrastructure district number one. As shared by Lauren,

[8:15] do I have a motion to adopt this resolution?

[8:21] This is made, I move to adopt.

[8:25] So Brian, I second it.

[8:27] All in favor?

[8:29] Hi.

[8:30] Thank you.

[8:33] And next, we will consider adoption of Resolution 2026-03, a resolution authorizing the execution

[8:40] of a 6th amendment to assessment ordinance for the Firefly Assessment Area No. 1, authorizing

[8:47] the taking of all other actions necessary to the consummation of the transactions contemplated

[8:53] by this resolution and related matters and I will let Darcy go over this six amendment

[9:00] to assessment ordinance. Would you like me to pull it up for you or would you like to

[9:04] share your screen and go through it? Hi, if you could pull it up that would be great.

[9:10] Sure. This is Darcy Stevens with Gilmore Bell, Bond Council.

[9:15] Thanks, Jacqueline. So what you have before you is a resolution.

[9:19] Well, this is actually the sixth amendment.

[9:21] The resolution approves the execution by the board

[9:24] of this sixth amendment to assessment ordinance.

[9:27] If you scroll a couple pages,

[9:31] the purpose of this amendment

[9:36] is to authorize a reallocation of assessments

[9:38] right there as good.

[9:39] Exhibit A has the new reallocation of assessments

[9:42] which are being made by this sixth amendment

[9:46] assessment ordinance. If you scroll to exhibit B, that will show actually B is the certificate

[9:55] of owner of the consent to these changes. Exhibit C is the parcels that are being released.

[10:00] These are parcels that have been paid off and they would be released from their assessment.

[10:06] And then exhibit D would be our new assessment list after the reallocation and release of these

[10:13] parcels. So it's pretty straightforward. And the resolution itself authorizes the execution

[10:20] of this assessment amendment and substantially this form. And I'm happy to answer any questions.

[10:31] That's great. It makes sense to me. Yeah, I'll have any questions.

[10:35] Great. Thank you. Actually, I did have one question, not in relation to your preparation, but I know

[10:41] Nate, at one point you talked about re-addressing the pay-off amounts on the larger lots, but was that

[10:52] addressed here? Is that still kicked down the road? Let me check down the roads. Okay, that's it.

[11:01] Awesome.

[11:01] Thank you, Darcy, for going over that. Do I have a motion to adopt this resolution?

[11:10] I still move. It's adopted.

[11:12] Thank you. I like that Nate I'll second it. All in favor vote aye.

[11:20] Hi. Awesome. Thank you. Next we can move into any administrative non-action items where we

[11:29] can have a discussion with the board members of any public infrastructure district business.

[11:35] I have one comment for the board if I could get your help with posting the third and fifth

[11:41] assessment ordinances. I did reach out to Jen Owen. I've just not heard back, but we do need those

[11:48] posted on the district or within the district's boundaries for 21 days. Would one of you be able to

[11:57] help us with that posting? When did you reach out to Jen?

[12:01] It was a couple weeks ago, but I followed

[12:04] up a few times since. I'll go find out what's going on. Perfect. And the six will need to get

[12:14] posted as well once we get signatures and we'll compile a PDF copy so they'll be a third one coming.

[12:22] And then if you guys can, when you have her post or whomever post, if you all can take a picture of

[12:29] that and email it to us or or however you want to get it to us just so we have some record

[12:35] in our files that it's been done. I don't anticipate anybody challenging it, but it just

[12:40] helps us for record keeping. Sure. Great.

[12:49] Any other items we would like to discuss during

[12:53] the official meeting?

[12:58] I don't have anything else. Okay. Do I have a motion to ensure? I have

[13:02] one quick question. Lauren, I know you guys are working on a bunch of stuff. Is there anything that

[13:07] you're going to be needing from them in order to, you know, finish the audit or any other things

[13:18] that you're working on, just taking the opportunity. But now that we've got everybody's attention, are you

[13:24] good to go? Yeah, I think we are good to go. There's nothing on my list that we're needing. Perfect.

[13:31] And then as far as the audit goes, I can give a little bit of an update there.

[13:36] The 2025 audit is in progress and the auditors let us know that field work, field work should

[13:42] be starting sometime between now and the end of this month.

[13:47] And then they are projecting a four week turnaround this year.

[13:51] So we're repeating much shorter turnaround time, which will be great.

[13:55] Perfect.

[13:56] Okay.

[13:57] Awesome.

[13:58] Thank you very much.

[13:59] Appreciate it.

[14:00] Perfect.

[14:01] Well, if there is nothing else, do I have a motion to adjourn the meeting today?

[14:08] This is made, I shall move, time to be done.

[14:11] Let's do it all second at night.

[14:13] Perfect.

[14:14] All in favor?

[14:16] Hi.

[14:17] Hi.

[14:18] Perfect.

[14:19] Meeting adjourned at 1.19 p.m. mountain standard time.

[14:25] Thanks, everybody.

[14:26] Everybody have a great day.

[14:28] Thank you.

[14:33] I didn't check that everyone's green next time I wore a green I was waiting for Jared to be here but

Combined Special Meeting

Transcript