Municipal Property Corporation - Regular Meeting

Special meeting of September 15th, 2026 to order and ask everyone to continue with their phones.

Chairperson Wilson.

Here.

Vice Chairperson Schroeder. Here. 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.

Okay, thank you. Agenda. Consideration approval of minutes of the special meeting of September 1, 2026. Do I have a motion? Yes. So moved.

Second.

Moved and seconded. Roll call.

Board Member Heck?

Yes.

Board Member Cross?

Yes.

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

Yes.

Board Member Soller?

Yes.

Chairperson Wilson?

Yes.

Motion passes unanimously.

Okay. Public hearing regarding the final assessment. for assessment area number five. Do we wanna combine three as well with this?

Chairman, board, with your permission, I'll combine items two, three, and four.

Okay, presentation, discussion, consideration of resolution number SBCFD2-2026-4. Discussion and consideration of resolution number SBCFD2-2026-015. Continue.

Chairman, board, Zach Sakas, special counsel of the district. Nice to see you again. This one will not, the second half of this meeting will be eerily similar to what we just talked about for CFD1. But so when we met last, the board was presented with assessment area five. So again, this is 130 lots. Each will be assessed for $5,000. The project that's being financed is a portion of Blossom Rock Trail, which again is a project that this board had approved for prior bond issuances, but there's still a little bit of it left to be paid for. So the first item, the public hearing, which covers, there's no additional public hearing for items three and four. But the first one is, It's the last bite at the apple for any interested landowner to show up and say that the street was built in correctly or that the assessment doesn't benefit their lot or otherwise object to the financing all the lots are owned by the developer or home builders in this case and we've had you know the district engineer and city engineering staff say that the street was built to city standards and So after conclusion of the public hearing, item three, resolution 2026-014 is the, Approval to begin collecting the assessment installment payments from the lots at the last meeting We approved putting the assessments on the lots in the time between the two meetings We record notices and other things and document the assessment So now anybody that goes is interested in buying a home out there if they pull a title report on a lot It'll show that the CFD assessment is in place and so this authorizes both confirming that the work is complete and that assessment installment collections can begin. And then item four, resolution 2026.015 is the bond resolution authorizing the issuance and sale of the assessment area number five special assessment bonds, not to exceed amount of 650,000, which again is the 130 lots multiplied times $5,000 assessment per lot. And then authorizing the distribution of a preliminary official statement to investors for consideration, and authorizing all the other necessary bond documents and delegating authority to staff to complete the transaction. Very similar to assessment areas one through four that this board has considered previously for the CFD. Happy to answer any questions on these items.

Anyone have any questions? Okay, any additional discussion among the board?

Excuse me, Your Honor. I would like to make just a statement for the record. The packet that is laying in front of you, titled SV CFD 2-915-2026, Agenda Item Number 4, So in the agenda, we have three resolutions tonight, and I'm just gonna use the last two digits of each, 14, 15, and 16. Late on Thursday, we received updated versions of the preliminary official statement for resolution 16, and a clerical error was made, and instead of, it was replaced on resolution 16, but it was also replaced on resolution 15. So what's on the agenda is not the correct preliminary official statement. What you have in front of you is. What is on file in the clerk's office is the correct version. So I just want to make note that that was a clerical error on the agenda from last Thursday. Thank you.

And that won't mess up the motion, right?

It will not mess the motion up. That's correct.

Okay. And now I'll, again, any discussion among the board for SVCFD2-2026-014. All right. Do I have a motion? Mayor? Yes. I move for one.

You want me to? Okay. Go ahead. I move that the resolution number SVCFD2-2026-014, a resolution of the District Board of Superstitions Visit Community Facilities, District Number 2, approving the final assessment for Assessment Area Number 5, Determining that the work has been completed in accordance with the approved plans and specifications in ordering the collection of the assessment in the assessment area number five be approved. Second. Move and second it.

Roll call.

Board member Johnson?

Yes.

Board member Heck?

Yes.

Board Member Cross? Yes. Vice Chairperson Schroeder? Yes. Board Member Nusser? Yes. Board Member Soller? Yes. And Chairperson Wilson?

Yes.

Motion passes unanimously.

All right. For resolution number SVCFD2-2026-015. Any discussion among the board? Don't see any. Do I have a motion?

Chair? Yes. I move that resolution number SVCFD2-2026-015, a resolution of the District Board of Superstition Vistas Community Facilities District number two, authorizing the issuance of the district's assessment area number five, 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 bond registrar, transfer agent, and paying agent for the bonds, and authorizing the taking of other actions, securing the payment of the relating of and relating to the bonds be approved.

Second.

Moved and seconded. Roll call.

Vice Chair Persensroeder? Yes. Board Member Nessar? Yes. Board Member Heck?

Yes.

Board Member Seller? Yes. Board Member Johnson? Yes. Board Member Cross? Yes. Chairperson Wilson? Yes. Motion passes unanimously.

Public hearings on the feasibility for the feasibility report for issuance of the general bond obligation bonds. Zach.

Chairman, board, this is the part that sounds eerily similar to what we just discussed for CFD number one. So in front of you is proposed items for agenda items five and six is consideration of a general obligation bond issuance for CFD number two. So the first item would be to conduct a public hearing on the feasibility report. The not to exceed amount of bonds for this one is $6,250,000. And the projects are... Let's see. We have some park amenities near the entry to the community, a non-potable water transmission main, which is the same. The two developers have a 50-50 split to build that project together. So it's the same project that the board for CFD number one just approved. And then a portion of Ray Avenue, but on the eastern side, because Ray Avenue cuts across the bottom of both districts. But this one's on the CFD number two side. All the projects have been completed. The district engineer has reviewed them, including the costs and any change orders related to ensure everything's built to city standards and that the projects are complete. Again, these are the types of bonds that are repaid with property taxes. The assessment area five transaction that the board just considered, that's the one where a homeowner can contact district staff and prepay the full amount at any time. But these are repaid with the bonds in front of you with items five and six are the ones that are repaid with property taxes. The resolution 2026-016 is going to approve the issuance of the bonds, include not to exceed interest rates, how quickly they can mature or the time planned for maturity, approve related documents, and approve the preparation and distribution of an offering statement for investors to consider, and delegate authority to staff to complete the transaction. Happy to answer any questions on this second and separate bond issue from what the board considered earlier with items two, three, and four.

Everyone want a question? Don't see any. Would anyone like, or as of now, open it to a public hearing? Does anyone again like to speak on this item? And again, I see no movement. Any discussion among the board? All right, I will now close that public hearing and ask for a motion for resolution number SVCFD2-2026-016.

Mr. Chair? Yes. I move that resolution number SVCFD2-2026 a resolution of the District Board of Superstition Vista's Community Facilities, District Number 2, approving the prior giving of notice of a public hearing with respect to a feasibility report relating to the acquisition and financing of certain improvements Benefiting the Superstition Vistas Community Facilities, District Number 2. Approving the Feasibility Report. Authorizing the issuance of the District's General Obligation Bonds, Series 2026. Approving the form and authorizing the execution and delivery of various documents related thereto. ratifying and approving a preliminary official statement and approving a final official statement relating to the bonds, levying an ad valorem tax on taxable property in the district, awarding the bonds to the purchaser thereof, appointing a bond registrar, transfer agent, and paying agent for the bonds, and authorizing taking other actions securing the payment of and relating to the bonds be approved. Second. Second. Move 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.

OK. Well, I'll call this meeting adjourned also. Thank you.