[00:00:01]
IT IS 1118[ NOTICE TO THE PUBLIC AVERY RANCH ROAD DISTRICT No. 1 PEARSON PLACE ROAD DISTRICT NORTHWOODS ROAD DISTRICT No. 1 SOMERSET HILLS ROAD DISTRICT No. 3 SOMERSET HILLS ROAD DISTRICT No. 4 AVERY CENTRE ROAD DISTRICT No. 1]
AND WE WILL RECESS TO THE, UM, JULY 21ST, UM, ROAD DISTRICT MEETING FOR AVERY RANCH ROAD DISTRICT ONE PEARSON PLACE, ROAD DISTRICT, NORTH WOODS ROAD, DISTRICT ONE, SOMERSET HILLS ROAD DISTRICT THREE, FOUR, AND AVERY CENTER ROAD DISTRICT ONE.BEFORE WE GET STARTED, UH, MR. ALEXANDER, I PROMISED YOU SOME MORE TIME, SO WE'LL COME UP.
I'LL GIVE YOU, UH, THREE MINUTES TO GIVE YOUR PUBLIC STATEMENTS.
HE DOESN'T HAVE TO FINISH IT, OR YOU CAN START OVER OR FINISH WHATEVER YOU WANT.
WELL, WE JUST APPRECIATE THE OPPORTUNITY TO VISIT AND, UM, WE KNOW YOU CAN TAKE A SEAT.
COMMISSIONER COVEY IS, UH, WORKING ON SOME OF THESE ISSUES FOR US, WHICH KIND OF JUST LEAVES ME TO WANT TO JUST MAYBE FOCUS ON WHERE WE'RE AT AND WHERE WE'RE GOING INSTEAD OF HOW WE GOT HERE BECAUSE WE'RE HERE.
SO RIGHT OR WRONG, WE'RE, WE'RE, WE'RE HERE.
SO GOING FORWARD, YOU KNOW, THIS AGREEMENT ON THE ROAD DISTRICT STARTED IN 2 0 8, GOT MODIFIED IN 12, GOT MODIFIED IN 22.
WHAT I'M RECOMMENDING TODAY IS WE MAKE A MODIFICATION IN 26 TO CLARIFY SOME OF THE CONCERNS, UH, OF SOME OF THE OPEN-ENDED ITEMS THAT EXIST IN THE CONTRACTS THAT ARE FUZZY ABOUT WHAT GOES FORWARD.
UM, FROM MY LEGAL BACKGROUND, CONTRACTS ARE BEST WHEN THEY'RE CLARIFIED IN WRITING RATHER THAN JUST, UH, UH, VERBAL OR, UH, UNOFFICIAL, UH, HANDSHAKE RECOMMENDATIONS ON THOSE.
SO THERE'S THREE MAIN AREAS OF THE CONTRACT THAT I WOULD LOVE TO SEE MODIFIED IN IN 26.
UH, FIRST OF ALL, WHICH COY COMMISSIONER COVEY IS WORKING ON IS THE REDUCTION IN THE AMOUNT AUTHORIZED ON THE, ON THE BONDS.
WE ALL KNOW WE WANT THAT DONE.
UM, BUT ALSO THE CLEANUP IN THE 12, THE TWO, THE 2012 AMENDMENT THAT TALKS ABOUT RONALD REAGAN AND, AND, UH, PULTE BUILDING MORE LANES ON RONALD REAGAN AND GETTING REIMBURSED FOR THAT.
UM, WE'VE BEEN ASSURED THAT THAT'S NOT GONNA HAPPEN, BUT IT'S, THAT WOULD ALSO BE IN ANYTHING THAT I PRESENTED TO THE COURT.
YEAH, BUT WHAT I'M ASKING IS IT BE MEMORIZED IN THE LEGAL CONTRACT? THAT'S RIGHT.
UM, AND ALONG WITH THAT, NOT JUST MORE ON RONALD REAGAN, BUT MORE ROADS IN GENERAL, BECAUSE THERE'S STILL SOME POTENTIAL DEVELOPMENT IN ROAD DISTRICT FOUR FOR MORE SUBDIVISIONS AND MORE ONES, WE WOULD LOVE TO SEE IT SAY NO NEW ROAD CONSTRUCTION WOULD BE PUT IN ANY FUTURE BOND ISSUES FOR FOR ROAD DISTRICT FOUR, AND THAT WOULD HELP CLEAR THOSE UP.
BUT OUTSIDE OF THE AGREEMENT, THERE'S TWO, TWO OTHER LITTLE BEAUTIFUL LITTLE POINTS THAT WOULD BE ADDRESSED IN DIFFERENT WAYS.
THE FIRST WAS WHAT I ALLUDED TO, UM, WHEN I STARTED TO TALK ABOUT WAS THE EQUITY OF PAYING OFF THE BONDS THAT WERE ISSUED FOR THE PAYMENT OF RONALD REAGAN OUT OF, OUT OF THIS, UH, INTO THE, INTO THE OVERALL BIG BOND.
UH, THAT WOULD BE A WONDERFUL EQUITY ADJUSTMENT, UH, FOR, FOR ALL OF US.
UM, SO THAT, THAT'S KIND OF THE FOURTH ITEM, BUT THE FIFTH ITEM IS PROBABLY ONE OF THE MOST DEAR TO ALL OF OUR HEARTS AND MOST CONCERNS IS THE BOND RATE PER HUNDRED.
WE KNOW IT CAN'T BE REDUCED BECAUSE THERE'S EXISTING BONDS THAT CALL FOR THE 29 CENTS PER HUNDRED, BUT WHAT WE WOULD LOVE TO SEE IT IS MEMORIZED IN HARD, UNEQUIVOCAL, NON-CHANGEABLE THAT IT WOULD NEVER EXCEED THE 29 CENTS PER HUNDRED.
THAT WOULD GO, THAT MEANS YOUR TIME'S UP
OH, I'LL, THAT WOULD GO A LONG WAYS TO MAKE SURE I'VE WRITTEN DOWN.
I'VE WRITTEN DOWN EVERYTHING YOU SAID AND WE'LL, WE WILL CONTINUE THIS CONVERSATION.
I'M SORRY, YOUR TIME'S UP TODAY.
SO I'VE GOT THANK, I'VE GOT YOUR FIVE REQUESTS, SO THANK YOU.
YEAH, AND YOU CAN ALWAYS SUBMIT THAT IN WRITING TOO.
SO WE HAVE, YEAH, I GOT SOME OTHER QUESTIONS.
AND, AND IF YOU HAVE NOT BEEN RECEIVING MY UPDATES, UM, RACHEL WAS HERE.
I DON'T KNOW IF SHE'S STILL HERE.
NO, I HEARD THERE WAS AN UPDATE LAST NIGHT THAT I NEVER SAW.
THEN I, I, WE WILL TRY TO, IF YOU LEAVE YOUR INFORMATION WITH, UM, I DID THIS LAST MONTH, BUT I'LL DO IT AGAIN.
DO YOU HAVE, DO YOU HAVE HIS CONTACT INFORMATION ON THE SIGNUP SHEET? UM, YES.
THERE'S RACHEL RIGHT ON THE SIGNUP SHEET.
UH, DOES IT HAVE IT ON THERE, RA RACHEL, IF YOU'LL GET HIS CONTACT INFORMATION.
NEED HIS PHONE NUMBER, SO YEAH, THANK YOU.
ITEM NUMBER ONE, REVIEW AND APPROVAL OF MINUTES.
DISCUSS, CONSIDER TECH APPROPRIATE ACTION ON APPROVING ROAD
[00:05:01]
DISTRICT COLLECTIONS FOR THE MONTH OF MAY, 2026 FOR THE WILLIAMSON COUNTY TAX ASSESSOR COLLECTOR.JUDGE, I'LL MOVE APPROVAL OF ITEMS TWO AND THREE.
THREE IS THE JUNE, UM, COLLECTIONS.
SO FOR MAY AND JUNE, YEAH, WE HAVE MOTION BY COMMISSIONER LONG SECOND BY COMMISSIONER COOK.
UM, NUMBER FOUR, DISCUSS, TAKE FOR PROTECTION ON AVERY CENTER.
NUMBER ONE ROAD DISTRICT, THE NORTH WOODS ROAD DISTRICT, THE PEARSON PLACE ROAD DISTRICT, SOMERSET HILLS ROAD DISTRICT THREE, SOMERSET HILLS DISTRICT FOUR, INCLUDING BUT NOT LIMITED TO THE PAYMENT OF BILLS MOVE APPROVAL.
I'LL SECOND MOTION BY LONG SECOND BY COOK.
ALL IN FAVOR? MOTION CARRIES FIVE ZERO.
NUMBER FIVE, CONSIDERATION AND ACTION WITH RESPECT TO RESOLUTION APPROVING PRELIMINARY OFFICIAL STATEMENT AUTHORIZING DISTRIBUTION OF PRELIMINARY OFFICIAL STATEMENT, ENGAGEMENT OF FINANCIAL ADVISOR RELATING TO SOMERSET HILLS ROAD DISTRICT NUMBER THREE, BOND ISSUE AND APPROVING OTHER RELATED MATTERS RELATING TO THE ISSUANCE OF UNLIMITED TAX ROAD BOND SERIES 2026.
GOOD MORNING, JUDGE JULIE KILEY COUNTY AUDITOR GARY KIMBLE IS HERE AS OUR FINANCIAL ADVISOR FOR THE DISTRICT OF THIS.
AT THIS TIME, WE ANTICIPATE THIS TO BE THE LAST ISSUANCE FOR THE SOMERSET THREE DISTRICT.
UM, AND SO WE ASK YOUR APPROVAL TODAY AND GARY CAN ANSWER ANY QUESTIONS, ANY QUESTIONS FROM THE COURT.
AND HOW MUCH ARE WE ISSUING WITH THIS LAST ONE? IT'S PRELIMINARILY $1.9 MILLION.
THAT'S GONNA BE SUBJECT TO CHANGE BASED ON THE CERTIFIED VALUES THAT WE JUST GOT FROM WILLIAMSON COUNTY AND THE ACTUAL INTEREST RATE ON THE BONDS, WHICH WILL BE LOCKED ON AUGUST THE 17TH.
SO THAT'S STILL A PRELIMINARY NUMBER.
SECOND MOVE TO APPROVE BY COMM BOWL, SECOND BY COMMISSIONER COY.
MOTION CARRIES FIVE ZERO AND ITEM NUMBER SIX, CONSIDERATION IN ACTION WITH RESPECT TO RESOLUTION APPROVING PRELIMINARY OFFICIAL STATEMENT AUTHORIZING DISTRIBUTION OF PRELIMINARY OFFICIAL STATEMENT, ENGAGEMENT OF FINANCIAL ADVISOR RELATING TO SOMERSET HILLS ROAD DISTRICT NUMBER FOUR, BOND ISSUES AND APPROVING OTHER RELATED MATTERS RELATING TO THE UNLIMITED TAX ROAD BONDS SERIES 2026.
IT'S THE SAME THING FOR DISTRICT FOUR.
IT'S ALL MOVED TO THE ONLY DIFFERENCE HERE IS JUST TO CLARIFY FOR THE RECORD, WE DO NOT ANTICIPATE AT THIS TIME FOR THIS TO BE THE LAST ISSUANCE FOR THIS DISTRICT.
'CAUSE THERE'S OTHER DON'T WANNA COMMITTED EXPENSES THAT HAVE TO BE PAID.
AND THESE, THESE ARE, THIS IS NOT FOR, FOR NEW STUFF, THIS IS FOR THINGS IT'S NOT ALREADY ON THE GROUND.
MOTION TO APPROVE BY COMMISSIONER COY.
SECOND BY COMMISSIONER BOWLES.
WE WILL ADJOURN THE ROAD DISTRICT MEETING AT 1126 AND RE.