Municipal Property Corporation - Regular Meeting

I'd like to call the Superstition Vista Community Facility District number two special meeting of June 2nd, 2026 to order and ask everyone to put their cell phones on silent. Roll call.

Chairperson Wilson?

Here.

Vice Chairperson Schroeder? Present. Board Member Cross?

Here.

Board Member Heck?

Here.

Board Member Johnson?

Here.

Board Member Nesser? Present. Board Member Seller? Here. You have a quorum, Your Honor.

Thank you. Consideration and approval of minutes for a special meeting of May 19th, 2026. Do I have a motion?

Your Honor? Yes. So moved. Second.

Moved and seconded. Roll call.

Board Member Johnson?

Yes.

Board Member Heck?

Yes.

Board Member Cross? Yes. Vice Chairperson Schroeder? Yes. Board Member Nassar? Yes. Board Member Soller? Yes. Chairperson Wilson?

Yes.

Motion passes unanimously.

Thank you. Public hearings. Public hearings regarding the final assessment of assessment area number four. Zach, I see you made it so.

Good evening, Chairman and Board. Always nice to see you. With the Board's permission, I'll go through the three agenda items in one shot. Okay. So when we met last on May 19th, you all will recall you adopted a resolution of intention in connection with assessment area four. This is 520 lots, each to be assessed at $5,000 per lot. And it's financing a portion of Blossom Rock Trail Phase 2. In the time since the last meeting, we completed the assessment documentation as approved by the board. Notices of assessment have been recorded against these 520 lots. And so the three items in front of you tonight, first is conducting the final assessment hearing. This is the final public chance for folks to object to either the amount of the assessment or to state that the project does not benefit their lot. As always, because the request to form the assessment area came from the builder or the developer and the owners of all the lots, pretty empty room for commentary during the public hearing. With respect to the next item, item three on your agenda, Chairman, Board, that would be the, upon conclusion of the final assessment hearing, that is the final action of the board to confirm that the assessments are in place, that the work has been completed. As reported to the board in connection with the meeting on May 19th, both the district engineer and the city public works staff have confirmed that the project's completed to city standards. In addition, that the collections of the assessments going forward is authorized by that resolution under Agenda 3. And then the final Once that's complete, the final item number four on your agenda, that's the resolution authorizing the issuance and sale of the district special assessment bonds series 2026. Again, the $2,600,000 anticipated amount comes from the $5,000 per lot times 520 lots. The bonds will be repaid over a 25-year period. The assessments also run for that 25-year period, but the Board will recall that property owners can choose to prepay that assessment at any time. The bond resolution otherwise contains the standard terms and conditions with respect to not to exceed interest rate, setting terms for a debt service reserve fund, capitalized interest, terms for if a bond investor wants to turn in their bond or loses their bond, how they can get a new one, and otherwise authorizes the district to move forward with the transaction, including a preliminary official statement, which is the document used to market the bonds to investors. Happy to answer any questions. This is very similar to what the board has seen previously with assessment areas one through three. But again, happy to answer any questions.

Any questions? No, sir. Don't see any at all Thank you. Okay, so I'll now open the public hearing there's a five minute time limit with one minute warning Indication by the yellow light, please state your name and address for the record Would anyone like to speak on this? And I see no movement at all any further discussion from the board Okay, I will now close the public hearing and ask for a motion for resolution number SVCFD2-2026-008. Mr. Chair? Yes.

I move that resolution number SVCFD2-2026-008, a resolution of the District Board of Superstition Business Community Facilities District Number 2, approving the final assessment for assessment area number 4, determining that the work has been completed in accordance with the approved plans and specifications, and ordering the collection of the assessment in Assessment Area 4 be approved. Second.

Moved and seconded. Roll call.

Board Member Johnson?

Yes.

Board Member Heck? Yes. Board Member Cross?

Yes.

Vice Chairperson Schroeder? Yes. Board Member Nesser? Yes. Board Member Soller?

Yes.

Chairperson Wilson?

Yes.

Motion passes unanimously.

Thank you. Okay, now for a motion for resolution number SVCFD2-2026-009. Mr. Chair? Yes. I move that resolution number

CSVC-FD2-2026-009, a resolution of the District Board of Superstition Vistas Community Facilities, District Number 2, authorizing the issuance of the district's assessment area, Number 4, special assessment bonds, Series 2026, approving the form and authorizing the execution and delivery of related documents, awarding the bonds to a purchaser, appointing a registrar, transfer agent and paying agent for the bonds, and authorizing the takings of other actions securing the payment of and relating to the bonds be approved.

Second.

Moved and seconded. Roll call.

Board Member Soller?

Yes.

Vice Chairperson Schroeder? Yes. Board Member Nusser? Yes. Board Member Cross?

Yes.

Board Member Heck? Yes. Board Member Johnson? Yes. Chairperson Wilson?

Yes.

Motion passes unanimously.

Okay. I see no District Manager's report, District Director's report, District Treasurer's report. None. So I will now adjourn this meeting. Thank you. Thank you for arriving, too.