[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.]

[0:06] We're going to call the board of the special meeting at the board of trustees for panorama, public
[0:10] hearing for structure. Districts 1 through 5, this Monday, April 20, 20, 26. At 1 p.m., the meeting
[0:20] is being held at the office of New York out in South Jordan, Utah. Let's do a roll call
[0:25] for our meeting minutes today. My name is Tom Jolly, and I am District Council.
[0:29] Chairman Bidard, District Council Paralegal.
[0:35] Jim Jones, mid-President.
[0:40] Hi, I'm Flam, board member.
[0:42] Nateship, board member.
[0:44] Greg Campbell, project manager.
[0:46] Shelby Climer, with CLA, District Accountant.
[0:50] Thanks, everybody.
[0:51] We're just going to follow our agenda, which has been posted and circulated.
[0:55] We do have a preliminary action item, which is to consider combining the board meeting for all five districts.
[1:02] for efficiency purposes as we've done in the past. Do we have a motion to combine the
[1:09] meeting for all five pids?
[1:13] I'll make a motion to combine all five pids.
[1:17] We have a second. I'll second that. All right. Thanks, Brandon. With a second, all of
[1:26] favorite say areas. Hi.
[1:30] Thank you motion passes unanimously. We're going to we're going to do our
[1:39] consent items. We're going to go ahead and combine the public comment and the public hearing
[1:44] together a little bit later. So the first consent item is to approve the draft minutes
[1:52] of the panorama public infrastructure district board meeting held on March 16th,
[1:59] 2026. That packet was or that was in your board packet the set of those minutes.
[2:05] Are there any questions?
[2:08] I don't have any questions.
[2:10] Great then let's have a motion to approve the March 16th, 2026 board meeting minutes.
[2:17] This
[2:21] is Nate. I'll make a motion. I saw the kid.
[2:26] Second. I'll second it. All in favor say I
[2:31] are. Yes. Yes. All right. Thank you. Thank you motion does pass unanimously. Let's move to our
[2:39] second consent item. Do we show that we have any payment applications or requisition requests since
[2:47] last board meeting? We did. Yeah, we had a couple of requisitions, which really represents one
[2:53] kind of cost certification, which the majority of that was only in reimbursement to the developer.
[2:59] Okay, great. Well, the acquisition of reimbursement agreement does require that we
[3:07] ratify and approve all payment applications. We try to do it in between board meetings or in quarterly
[3:15] board meetings. So unless there are any questions about the specific requisitions, we can entertain
[3:25] a motion to accept and improve all payment applications since the March 16th board meeting.
[3:32] This land reimbursement is just for South Venture. It's for,
[3:40] maybe it might be both of them.
[3:41] The total and both kind of in town is all okay.
[3:46] I have no questions.
[3:50] Hey, do we have a motion to approve and ratify payment applications since the March 16th board meeting?
[3:56] This is Nate. I so move.
[4:00] Second.
[4:01] Thank you all in favor say yes.
[4:04] Hi.
[4:05] Thank you motion does pass unanimously.
[4:10] Let's move to our public hearing and our public comment portion.
[4:13] We do need a motion to open this for public comment and questions.
[4:23] I'll make a motion to open the public comment.
[4:27] Second.
[4:28] Second.
[4:30] I'll hear a say aye, yes.
[4:32] All right.
[4:33] All right.
[4:35] Thank you, motion.
[4:36] Passes the public hearing and public comment portion of the meeting is now open.
[4:42] Specifically, if there are any members of the public here today.
[4:44] We can take comment on the amended
[4:49] candidate operating in capital budget which was adopted on March 16th or any other district
[4:58] business that any members of the public would like to talk about.
[5:02] So we can confirm that there are no members of the public attending a person at the office
[5:07] of the New York Hall, do not see any members of the public participating via the Zoom link
[5:14] today. Ben, we do welcome you. We hope you don't have anything to say, but if you do, go ahead.
[5:21] Just jump in. Just keep positive guys. We can close, we can entertain a motion to close
[5:33] the public comment and hearing of the board meeting. I'll make a motion to close public comment.
[5:42] I'll second it.
[5:44] All in favor say aye.
[5:45] Yes.
[5:46] All right.
[5:47] I think he motion does pass unanimously.
[5:51] Let's remove right into our action items.
[5:53] The first action item is to consider adoption of Resolution 202604.
[5:59] This is to a resolution adopted in the amended final operating calendar budget for 2026.
[6:05] Shelby, I'll let you walk the board through it.
[6:08] Okay, Board, just really quickly, we, again, reviewed this about a month ago.
[6:14] We did make some slight tweaks to this just to represent final pricing numbers.
[6:20] So the part amount of the bonds was that 11.1 million, which did not change from the
[6:24] prior version, but then just some kind of updates to the bond issue costs and then the transfers
[6:29] to the new debt service fund.
[6:32] Would you like me to run through this again quickly, or are there any questions?
[6:38] questions. Okay.
[6:42] Well, thanks, Shelby. Appreciate that. Do we have a motion of proving the final
[6:46] amendment to 2026 budget for panorama and public infrastructure district? Then we'll make motion
[6:53] to prove as stated.
[6:56] Second. Second. Second. All they say are yes. I thank you. Thank you. Motion does
[7:06] passed unanimously. Let's move to our second action item is to consider adoption of Resolution
[7:11] 2026-05.
[7:17] This is a resolution of the Board adopting a finding of the estimated number of
[7:23] certificates of occupancy to be issued by Herrmann City. The Board did receive this resolution
[7:29] as packet. The governing document does require that the district make this finding of estimated
[7:35] numbers certificates. You may or may not recall. This was done when we issue the first set of bonds
[7:42] for the based on the tax bonds back in February 6, 2025. Bond Council has asked that we update
[7:51] and amend this estimate based on the new special assessment bonds that were issued. So
[8:01] So the number that has been estimated is 1,371.
[8:08] Are there any questions from the board?
[8:11] Nope, that's not correct.
[8:15] Do we have a motion to adopt resolution 2026-05 as so stated?
[8:20] I'll make a motion to approve that stated.
[8:25] Second.
[8:27] Second.
[8:28] I'll second it.
[8:29] All of the people say I already asked.
[8:32] All right.
[8:32] Hi, thank you. Thanks, everybody. Motion passes unanimously. We're going to go to our last action item,
[8:40] which is to consider accepting the key one financial statements for calendar year 2026.
[8:48] Shall we return time more to you? Thanks, Tom. So, Board, I'm going to put these up on the screen.
[8:54] Just walk through these pretty quickly with you. So, first quarter financial statements total assets
[8:59] for the district, about 27.3 million, of course, as you know, this was prior to the assessment bond
[9:06] issuance. Capital Projects Fund, there was about 19.3 million remaining in project funds,
[9:14] and then about 8 million in the debt service fund, which is all restricted to the 2025 property
[9:18] tax bonds, and we had a receivable about 3,400 in the general fund. Accounts payable were about 12,000,
[9:25] which brings total fund balances or equity to about 27.3 million.
[9:32] General fund budget to actual expenses through the first quarter, about 7400,
[9:37] which I would say is, you know, kind of as expected, that auditing cost will hit a little bit later on.
[9:44] It will note that we are working through fieldwork with the auditor,
[9:48] so that's anticipated to be done and filed before the June 38 deadline.
[9:51] and then all amounts here are being funded by developer advances through the first quarter.
[9:58] Next page is the debt service fund again for the 2025 property tax bonds interest income
[10:04] of about 76,000 has been realized through first quarter. Then there was this scheduled payment on
[10:09] March 1st on those bonds of 532,000 which was covered through capitalized interest.
[10:16] Then lastly is the Capital Projects Fund. Here interest income totals about 197,000. We did have cost
[10:24] acceptances of just under 4 million which were repaid and then about another 300,000 in capital
[10:30] outlay costs and engineering costs. Can about 19.3 million remaining available in the Capital Projects Fund.
[10:40] Any questions on the financial statements or would you like me to go into any further detail?
[10:44] No? No, I reviewed them. Okay.
[10:50] Hey, Shelby. There are no further questions from the board. Do we have a motion accepting the Q1 2026 financial statements for the district?
[11:06] Let's move. Do we have a second?
[11:09] I'll second it.
[11:11] Thank you all. Favorite say aye, or yes?
[11:13] Aye.
[11:13] All right. Thank
[11:17] you motion passes unanimously. We're now moving to our administrative non action items. We have not was that any specific non action items.
[11:27] Unless the board wants to raise something at this time.
[11:33] Do we need to do anything further with the ending lawsuit? Tom?
[11:39] Nothing further at this point in time. We're monitoring the situation.
[11:46] Okay. And there we haven't seen any, any, any filing naming the district yet. Actually, Shannon,
[11:56] that's another thing that we can do today is run another litigation search on that. Okay. Well,
[12:05] if there is no further business, we can entertain a motion to adjourn. I'll make a motion to adjourn.
[12:16] Second. Second out. All in favor say yes. All right, all right. Fantastic motion passes unanimously and the board meeting is adjourned. Have a great day everybody.