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Home My WebLink About08/14/2025 - Regular Minutes - Rock Prairie Management District No. 2ROCK PRAIRIE MANAGEMENT DISTRICT NO. 2 MINUTES OF PUBLIC MEETING OF BOARD OF DIRECTORS August 14, 2025 The Board of Directors (the "Board") of Rock Prairie Management District No. 2 (the "District") met in regular session, open to the public on August 14, 2025, at 4121 State Highway 6 South, College Station, Brazos County, Texas 77845, in accordance with the duly posted notice of meeting, and the roll was called of the duly constituted members of said Board of Directors, as follows: Uri Geva — President Hays Glover — Vice President Logan Lee — Assistant Vice President Mark Lindemulder — Secretary Samuel "Kit" Kerbel — Assistant Secretary and all of said persons were present, except Directors Glover and Kerbel, thus constituting a quorum. Also present were James Murr of College Station Downtown Residential, LLC ("CSDR"); Denise Oppenheimer of Municipal Accounts & Consulting, L.P. ("MAC"); Robert Atkinson and Marcus Carrington of EHRA Engineering ("EHRA"); Avik Bonnerjee of B&A Municipal Tax Service, LLC ("B&A"); Anthea Moran of Masterson Advisors LLC ("Masterson"); Stacy Vasquez and Councilmember Mark Smith of the City of College Station (the "City"); Debbie Drastata and Anna Lowary, residents of the District; and Christina Cole of Schwartz, Page & Harding, L.L.P. (" SPH"). The President called the meeting to order and declared same open for such business as might properly come before it. Ms. Cole informed the participants that, in accordance with the requirements of the City's Resolution No. 07-09-15-02 consenting to the creation of the District, the meeting would be recorded, and requested that participants speak clearly, including when making or seconding a motion. PUBLIC COMMENTS The Board began by opening the meeting for public comments. There were no comments from members of the public. APPROVAL OF MINUTES The Board next considered approval of the minutes of its meeting held on June 12, 2025. After review and discussion, Director Geva moved that the minutes for said Board meetings be approved, as written. Director Lindemulder seconded said motion, which unanimously carried. 2025 TAX RATE RECOMMENDATION Ms. Moran presented the Board with her recommendation regarding the proposed 2025 debt service tax rate and maintenance tax rate, a copy of which is attached hereto as Exhibit A. Ms. Moran advised the Board that Masterson is recommending a proposed 2025 debt service tax rate of $0.454 per $100 of assessed valuation and a proposed 2025 maintenance tax rate of $0.196 per $100 of assessed valuation. There next followed a discussion concerning the requirements for notice of the District's intention to adopt a 2025 tax rate. Ms. Cole advised that, pursuant to §49.236 of the Texas Water Code, as amended, the District is required to provide a notice containing certain tax -related information in connection with each meeting at which the adoption of a tax rate will be considered. Ms. Cole further advised that the information to be included in the notice is set forth in the Texas Water Code and includes the proposed tax rate to be adopted. She advised that the District must provide the notice by either (1) publishing it at least once in a newspaper having general circulation in the District at least seven days before the date of the meeting at which the tax rate will be adopted, or (2) mailing it to each owner of taxable property in the District, at the address shown on the most recently certified tax roll of the District, at least ten days before the date of the meeting. After further discussion on the matter, Director Lindemulder moved that the Board (i) accept the financial advisor's recommendation of a proposed 2025 debt service tax rate of $0.454 per $100 of assessed valuation and proposed maintenance tax rate of $0.196 per $100 of assessed valuation, and (ii) the District's tax assessor -collector be authorized to publish notice of the District's intention to adopt a 2025 tax rate at its next meeting in the form and at the time required by law. Director Lee seconded said motion, which unanimously carried. The Board concurred that the notice should be published by the tax assessor - collector in The Eagle newspaper. $2.750.000 UNLIMITED TAX ROAD BONDS, SERIES 2025 The Board next discussed the status of the District's $2,750,000 Unlimited Tax Road Bonds, Series 2025 (the "Bonds"). Following discussion, the Board concurred to defer consideration of said Bonds at this time. BOOKKEEPING REPORT AND QUARTERLY INVESTMENT REPORT Ms. Oppenheimer presented to and reviewed with the Board the Bookkeeper's Report dated August 14, 2025, a copy of which is attached hereto as Exhibit B, including the checks presented for payment from the District's various accounts. Ms. Oppenheimer also presented and reviewed with the Board a Quarterly Investment Report prepared by MAC for the reporting period ended May 31, 2025, a copy of which is included with the Bookkeeping Report. After discussion on the matter, it was moved by Director Geva that (i) the Bookkeeper's Report be approved, (ii) the checks identified in the Bookkeeper's Report be approved for payment, and (iii) the Quarterly Investment Report be approved and the District's Investment Officer be authorized to execute same on behalf of the District. Director Lee seconded said motion, which carried unanimously. 2 808902vl TAX ASSES SOR/COLLECTOR'S REPORT Mr. Bonnerjee then presented to and reviewed with the Board the Tax Assessor -Collector Reports for the months ended June 30, 2025, and July 31, 2025, prepared by B&A, including checks presented therein for payment. Copies of such reports are attached hereto as Exhibit C. Following discussion, Director Geva moved that (i) the Tax Assessor/Collector Reports be approved, and (ii) that the checks identified therein be approved for payment. Director Lindemulder seconded said motion, which unanimously carried. APPROVAL OF RESOLUTION AUTHORIZING REQUEST FOR APPRAISAL OF PROPERTY Ms. Cole advised the Board that SPH and B&A prepared and filed with the Brazos Central Appraisal District ("BCAD") a Resolution Authorizing Request for Appraisal of Property as of August 1, 2025, needed in connection with the District's proposed Series 2025 Road Bonds. Ms. Cole requested that the Board approve the filing of such Resolution with the BCAD on behalf of the District. Following discussion, Director Geva moved that the adoption of such Resolution be approved. Director Lee seconded the motion, which unanimously carried. A copy of the Resolution is attached hereto as Exhibit D. STATUS OF REQUEST TO CITY OF COLLEGE STATION FOR ACCOUNTING OF CONTRACT PAYMENTS PURSUANT TO INFRASTRUCTURE AND ECONOMIC DEVELOPMENT AGREEMENT Ms. Cole reminded the Board that, pursuant to the the Infrastructure and Economic Development Agreement dated July 9, 2015 among the City, the District, College Station Town Center, Inc., and College Station Downtown Residential, LLC, as assigned and amended (the "Agreement"), the District may request from the City an annual account of the calculation of the Contract Payments for each year of the term of the Agreement. She then advised the Board that SPH directed correspondence to the City requesting an accounting of the Contract Payments that have accrued since the inception of the Agreement, as previously authorized. In connection therewith, Ms. Cole advised that SPH is reviewing the City's response to said request. It was noted that no action was required of the Board at this time. ENGINEERING REPORT Mr. Atkinson presented to and reviewed with the Board a written Engineering Report for the month of August 2025, a copy of which is attached hereto as Exhibit E, relative to the status of various projects within the District, and discussed the matters contained therein. Following discussion, Director Geva moved to approve the Engineering Report and all action items listed therein, as recommended by EHRA, including: (i) ratification of approval of design and authorization for EHRA to proceed with the advertisement for bids for construction of facilities within the District as may be listed therein, including the construction of Midtown City Center Phase 40413; (ii) authorization for EHRA to award construction contracts, subject to SPH's review of the payment and performance bonds and insurance certificates submitted in connection therewith to determine if said bonds and insurance meet the requirements of the bid specifications, sog9o2vi the Texas Insurance Code, the rules of the TCEQ and the provisions of the Texas Water Code, as applicable, for the construction of facilities within the District as may be listed therein, including the construction of Midtown Reserve Subdivision Phase 116 to the lowest qualified bidder, Greens Prairie Investors, Ltd., in the amount of $1,841,907.00; (iii) the approval or concurrence, as applicable, of all pay estimates, contract quantity adjustments and change orders as may be listed therein, including: (a) Pay Estimate Nos. 3 and 4 in the amounts of $299,745.00, and $93,883.50, respectively, and Change Order No. 1 in the amount of $15,253.79, from Greens Prairie Investors, Ltd. for the construction of Midtown Reserve Subdivision Phase 113; and (b) Pay Estimate Nos. 1 and 2 in the amounts of $867,816.00, and $554,793.30, respectively, from Greens Prairie Investors, Ltd. for the construction of Midtown Reserve Subdivision Phase 114. Director Lindemulder seconded the motion, which unanimously carried. DEVELOPER'S REPORT The Board considered the Developer's Report. Mr. Murr presented a verbal report on the status of development within the District. It was noted that no action was required of the Board at this time. ATTORNEY' S REPORT The Board considered the Attorney's Report. In connection therewith, Ms. Cole advised the Board that a Legislative Summary of the 89th Regular Session of the Texas Legislature, prepared by SPH was previously emailed to the Board. She then advised the Board that information regarding significant legislation which may be of interest to or impact to the water district industry would be forthcoming. Ms. Cole advised the Board that the District is in receipt of an open records request from Ms. Drastata. She further advised the Board that SPH will provided the requested documents on behalf of the District. It was noted that no action was required of the Board at this time in connection with said request. Ms. Cole noted that the next regular meeting of the Board will be held on Thursday, September 11, 2025, at 2:00 p.m. FUTURE AGENDA ITEMS The Board next considered matters for possible placement on future agendas. There were no future agenda items to be discussed other than matters previously noted during the meeting. M 8o89o2v1 ADJOURNMENT There being no further business to come before the Board, on motion made by Director Geva, seconded by Director Lindemulder, and unanimously carried, the meeting was adjourned. P RAIRI f, (SEAL) •'• •�' `�NI I�1�;S' Secretary G 808902v1 LIST OF ATTACHMENTS Rock Prairie Management District No. 2 Minutes of Meeting of August 14, 2025 Exhibit A 2025 Tax Rate Recommendation Exhibit B Bookkeeping Report and Quarterly Investment Report Exhibit C Tax Assessor/Collector Report Exhibit D Resolution Authorizing Request for Appraisal of Property Exhibit E Engineering Report 0 8089020