[This transcript was generated automatically from audio using AI and hasn't been reviewed by a person -- it can contain mistakes, including plausible-sounding sentences that were never actually said. Treat it as a starting point, not a verbatim record.]

[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, ma'am.
[1:34] Pam gives blackwood advisors.
[1:37] And Lauren Warburton with CLA District Accountants.
[1:41] Shannon Baudard, Tom Zolli's Paralegal.
[1:44] Darcy Stevens with Gilmore 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
[2:01] to consider a combined board meeting for Firefly Public Infrastructure District numbers 1 through 10.
[2:08] Do I have a motion to combine the meeting today?
[2:12] This is nature if I still move to this Brian Flam, I'll second it.
[2:18] Also an all in favor vote all right?
[2:21] All right.
[2:23] All right.
[2:24] Perfect.
[2:25] Thank you.
[2:26] And then moving to the consent items, we will approve the draft minutes of the Firefly Public
[2:31] infrastructure district numbers one through 10 board meeting that was held on January 16th,
[2:37] 2026. You guys should have received this over the weekend. Did you have a chance to review? Do you
[2:44] have any questions or updates before we approve and send for signature?
[2:52] No questions from me.
[2:53] No. 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 $43,062.85. Were there any questions or comments or do I have a motion
[3:26] to approve this requisition.
[3:31] No comments, your questions. I still move to approve.
[3:35] So I'll second the motion. Perfect. Sorry. I need to say all in favor vote aye.
[3:40] Hi. Hi. Perfect. Thank you. Next we will move to a public hearing. Do I have a motion to open
[3:50] the public hearing? The motion to open the public hearing. Perfect. 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.
[7:54] 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