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I'm going to start it. Okay, I'll do this. So it's trustee of the Board of Trustees of

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Losage Peaks Ranch Public Improvement District. I hereby call this regular

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meeting of the Board to order at 402 p.m. on July 13, 2026 at 36 South State Street,

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Sweet 500 Salt Lake City, Utah, 84111. In compliance with the requirements of Utah's

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open a public meeting law. One notice of this meeting has been duly posted and published

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and two, the meeting is being recorded in minutes of the meeting and its entirety are

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being kept.

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So with us today, Kelly Reed, Suzanne Bennett, Ed Schultz, Todd Gottfried,

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Curly Hair, and Matt Musseld, anyone from the public?

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I don't think we have anyone here at 36 Sal State Street and it doesn't look like we have

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anyone here with us online. Kelly, it looks like Gary's having a hard time connecting. I left my phone

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in the other room, would you mind responding to him?

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Is he chatting with us? I think he sent a text.

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He sent a text. He sent a text. Let's just recent him the link, perhaps. Jenny, sorry to interrupt,

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you're welcome to keep it going.

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Other now if I don't have to.

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Um, but I guess we can go ahead and review and approve the minutes from April 13th.

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And did you have any comments?

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Nope, I've reviewed the meeting minutes and no comments.

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I have a motion to approve the meeting minutes.

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So moved.

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I'll second all in favor.

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Thank you.

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Hi,

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meeting minutes approved.

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Kelly, do you want to talk about the payment of claims?

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Yes, just a second.

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Sorry, lost minutes.

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Yeah, everything is pretty normal.

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I just want to bring to everyone's attention that we were behind on our accounting services, as well as the streamlined.

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is our federal website that we have required to have for the state of Utah, and that is why

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you're seeing a big group of those all at once. Otherwise, these are just normal expenses

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that we have as we run the PID.

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Did you need a motion for that?

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Usually, you guys, he does a motion to accept and improve.

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Can I just make the motion myself?

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Yes.

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Okay, I'll make the motion to approve and those payment of claims.

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All those in favor?

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Hi.

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Hi.

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Kelly, you want to talk about the financials?

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If there's questions I can go ahead and help with it, usually Matt is more, he presents

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it in a better way than I do.

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So is there any questions that you guys have?

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No, I mean, nothing really happened.

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Yes.

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Pretty much.

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Yeah, for a second quarter, we did not have a whole lot.

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Matt, is there anything that should be pointed out to us, but it doesn't look like much activity?

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Yeah, do you want to jump to the income standard or the statement of activity?

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Yeah, I think just note that, I guess, first quarter, we've had a payment of 679,500 to the bondholders.

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And that's on 779,000 in revenue, the K-man C-top line.

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And then there's a transfer to other fund that gets picked up.

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And the debt service fund then goes out the door there, 679.

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It shows a variance there as over budget.

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But the total annual budget I think is like 1.9.

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So there's maybe just a little bit of timing difference there.

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And we're not really on over budget.

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I think that's the most eventful thing that happened.

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and first quarter is that payment?

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Thank you for helping out that.

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Just pointing out, we are up to 25 million of accrued interest on these bonds as

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of March

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31st.

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I don't have any questions, do we need approval of those?

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Yes.

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Yeah, I'll make the motion to approve those financials.

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I will second them.

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All those in favor?

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Aye.

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Aye.

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These are our audited financials.

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Is there a specific page that would be best met for me to have this full?

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Yes, we've circulated the audit of the financials at the board.

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We've made those available on the state website for members of the public

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that they can go in and access that for their own fund reading.

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I won't go into detail on anything here, but I'll just kind of highlight

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that we received a clean audit opinion from our auditors.

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They didn't highlight any kind of material weakness or material inaccuracy.

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the financials are accurately fairly stated and then the accounting team

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management we're here for any questions that the public may have on these.

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Pretty straight for me.

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Yep.

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Nice work dealing with the auditors, Matt.

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Always a good time.

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Yep.

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Good job, Matt.

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I'll make the motion to approve it.

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I'll second it.

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Call the favor.

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the financial and compliance self-evaluation form.

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Kelly, do you want to talk about this?

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Since you filled this out, it worked with Curly on it.

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This is just an annual survey that we take.

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We fill it out, just basically letting the state know our procedures,

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how we have a purchasing, we're having any high risk issues

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issues and at this point we are not and we all about at the counting team all looked it over and

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presented it to the state

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questions here currently doing you like approve this this has already been submitted as

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Yeah, it's just a ratification so if we have things that we've had to submit before we had a meeting the board just ratifies that for our

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Records,

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so we just need a motion to ratify that I'll make that motion

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All seconded.

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All seconded.

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Those in favor?

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Aye.

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Aye.

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Sorry.

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All right.

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On the legal matters.

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Curly.

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So this is also just a ratification.

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Since our last board meeting, we've had two plots that have closed.

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Plot 3a.1 amendment.

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And then plat 4a.1, which was the upper town homes.

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As part of those plans, we record easement agreements between the property owner, which

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is Wasatch Peace Ranch, and the PID, which just gives the PID the ability to enter onto

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that property, if needed, as part of the infrastructures, the public infrastructures duties.

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So these are just ratifications of the two easements that were recorded.

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One was recorded back in May, and the other one was recorded last week.

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Can I make a move for these together?

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Yeah, you can put them together.

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Okay.

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I would move that we approve Phase 3A1 amendment easement agreement and for A1.

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Seconded.

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Is it in favor?

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Hi.

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Gary made it on, so I say aye.

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Yay, welcome, Gary.

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just in time. Do you have any trustee matters?

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I have none other than my team's account.

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Any other business?

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I moved to adjourn.

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Beautiful.

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I'll second that.

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Okay.

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All those in favor.

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Hi.

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Thank you, Jenny.

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Beautiful.

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Oh, problem. Thanks, all.

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Thank you.

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So