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MINUTES
MONTGOMERY COUNTY MUNICIPAL UTILITY DISTRICT NO. 107
September 14, 2021
The Board of Directors (the "Board") of Montgomery County Municipal Utility
District No. 107 (the "District") met in regular session, open to the public, on the 14th day
of September, 2021, at the Recreation Center of Graystone Hills, 2030 Graystone Hills
Drive, Conroe, Texas 77304, inside the boundaries of the District, and the roll was called
of the members of the Board:
Ken Schoppe
Uoy Weaver
Jane Saladino
Kathy Grisham
Joe Caracciolo
President
Vice President
Secretary
Assistant Vice President
Assistant Secretary
and all of the above were present except Director Saladino, thus constituting a quorum.
Also present at the meeting were Loren Morales of RBC Capital Markets, LLC
("RBC"); Jeff Safe of LJA Engineering, Inc. ("LJA"); Kim Shelnutt of Myrtle Cruz, Inc.
("Myrtle Cruz"); and Greer Pagan and Gabby Gomez of Allen Boone Humphries
Robinson LLP (" ABHR").
MINUTES
The Board considered approving the minutes of the August 17, 2021, regular
meeting. Following review and discussion, Director Weaver moved to approve the
minutes, as presented. Director Schoppe seconded the motion, which passed by
unanimous vote.
FINANCIAL AND BOOKKEEPING AND TAX ASSESSMENT AND COLLECTIONS
MATTERS
Ms. Shelnutt reviewed the bookkeeper's report, a copy of which is attached.
Ms. Shelnutt then reviewed the tax collection report provided by the Montgomery
County Tax Office, a copy of which is included in the bookkeeper's report.
Discussion ensued regarding website posting requirements pertaining to House
Bill No. 1154. The Board considered authorizing ABHR to work with Off Cinco on the
new posting requirements in an amount not to exceed $5,000, per year.
Following review and discussion, Director Weaver moved to (1) approve the
bookkeeper's report and payment of the bills; (2) approve the monthly tax collection
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report provided by the Montgomery County Tax Office and payment of the tax bills; and
(3) authorize ABHR to work with Off Cinco on the new website posting requirements in
an amount not to exceed $5,000, per year. Director Caracciolo seconded the motion,
which passed by unanimous vote.
CONDUCT PUBLIC HEARING REGARDING DISTRICT'S TAX RATE, ADOPT ORDER
LEVYING TAXES, AND AUTHORIZE EXECUTION OF AMENDMENT TO
INFORMATION FORM
Mr. Pagan stated that notice was published of the public hearing to be held at the
September 14, 2021 meeting regarding adoption of the District's 2021 tax rate. The Board
opened the public hearing regarding the District's proposed tax rate of $0.59 per $100 of
assessed valuation, with $0.52 allocated for debt service and $0.07 allocated for operations
and maintenance. There being no members of the public in attendance who wished to
address the Board, the public hearing was closed.
The Board considered adopting an Order Levying Taxes reflecting the proposed
2021 tax rate.
The Board then considered authorizing the execution of an Amendment to
Information Form to reflect the 2021 tax rate.
Following review and discussion, Director Weaver moved to (1) adopt the Order
Levying Taxes and direct that the Order be filed appropriately and retained in the
District's official records; and (2) authorize execution of the Amendment to Information
Form and direct that the Information Form be filed appropriately and retained in the
District's official records. Director Caracciolo seconded the motion, which passed by
unanimous vote.
RESOLUTION REGARDING ANNUAL REVIEW OF INVESTMENT POLICY AND
RESOLUTION ESTABLISHING THE AUTHORIZED DEPOSITORY INSTITUTIONS
AND ADOPTING LIST OF QUALIFIED BROKER/DEALERS WITH WHOM THE
DISTRICT MAY ENGAGE IN INVESTMENT TRANSACTIONS
The Board considered adopting a Resolution Regarding Annual Review of
Investment Policy. Mr. Pagan explained that the Texas Public Funds Investment Act
requires the Board to annually review its Investment Policy and authorize any
appropriate amendments. He stated no changes to the District's investment policy are
recommended at this time.
The Board then considered adopting a Resolution Establishing the Authorized
Depository Institutions and Adopting List of Qualified Broker/Dealers with Whom the
District May Engage in Investment Transactions.
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Following review and discussion, Director Weaver moved to (1) adopt the
Resolution Regarding Annual Review of Investment Policy; (2) adopt the Resolution
Establishing the Authorized Depository Institutions and Adopting List of Qualified
Broker/Dealers with Whom the District May Engage in Investment Transactions; and (3)
direct that the Resolutions be filed appropriately and retained in the District's official
records. Director Caracciolo seconded the motion, which passed by unanimous vote.
ENGINEERING MATTERS
Mr. Safe reviewed the engineer's report, a copy of which is attached.
Mr. Safe updated the Board on detention facilities Band C, and the Laurel Ridge
detention facility maintenance.
REPORT ON DEVELOPMENT
There was no discussion on this agenda item.
MEETING SCHEDULE
Following discussion, the Board concurred to hold the next regularly scheduled
Board meeting on Tuesday, November 16, 2021, at 9:30 a.m.
There being no further business to come before the Board, the Board concurred to
adjourn the mee~inK. • ·~ t
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LIST OF ATTACHMENTS TO MINUTES
Page
Bookkeeper's report .............................................................................................................. 1
Engineer's report ................................................................................................................... 3
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