Waterwood Mud 1

The meeting addressed several administrative and operational matters. Key discussions included a request from RBC regarding reimbursement from bond money for lift stations, for which the President will provide information. For storm drain repair in Bass Boat Village, the Board approved a $3,000.00 cap for immediate repair if the cost is within that limit; otherwise, a special meeting would be called. Regarding road repairs, the Board authorized up to $1,000.00 for immediate patching of holes on Netawaka and Bayview Circle, with restoration work on Bayview Circle driveway requiring about 4 yards of concrete to be coordinated separately. The Board also received operational reports and noted progress on various leak repairs and a booster pump repair.

The meeting included the approval of bookkeeping and payments of bills, including a financial report discussion regarding moving monies to interest-bearing accounts. The Board authorized additional spending of $600.00 for a new computer and a new seal. Administratively, the Board discussed a grinder pump replacement issue at a resident's property and unanimously voted to reimburse the resident $425.00 for wiring and float costs, clarifying the MUD district's non-responsibility for future pump maintenance. The Board also authorized repairs for the Doral B lift station, which will be reimbursed with Bond money. Engineering matters involved receiving reports on concrete pad conditions near the Doral B lift station, an update on the Bond application (draft form), and an update on the FEMA request (in progress). Operations and Maintenance included receiving the monthly report, discussing meter change-outs, and approving a motion to seek a proposal for changing out two fire hydrants.

The meeting centered on Financial and Taxation Matters. Key discussions included the review of the proposed Fiscal Year 2026 Maintenance & Operations budget, a request for the representative from RBC Capital Markets to seek a better interest rate for the Debt Service account, and a review of certified property tax values provided by San Jacinto County. The Board discussed the Tax Rate Study, with a suggestion made to set the Debt Service rate at 30 cents, leading to the Board unanimously agreeing that the District qualifies as a developing water district. Furthermore, the Board unanimously authorized the publication of the Notice of Public Hearing on the Tax Rate.

The meeting included approval of the payment of bills and the Tax Collector Report. Administrative matters involved authorizing the purchase of a new computer and ordering a new seal, with spending authorized up to $1,000.00. Engineering discussions covered receiving the general engineering report and updates on the bond application and FEMA request. The Board also discussed and authorized repairs for Bayview Circle. Operations and Maintenance included receiving the report from Precision Utility and discussions regarding investing monies in the Tax account, suggesting spreading investments across four Certificates of Deposit (CDs) at different banks, with the remainder placed in a money market fund.

The Board of Directors convened to consider and adopt an order levying taxes for the year 2023. The order includes levying an ad valorem tax of $0.34 on each $100 of taxable property to provide for the payment of principal and interest on the District's outstanding bonds, and an ad valorem tax of $0.50 on each $100 of taxable property to provide funds for maintenance purposes. The taxes levied are set to be delinquent if not paid by January 31, 2024.