PPMD #1 Special Meeting Minutes, July 11, 2022 - Forest Lakes Metropolitan District

December 5, 2022
Minutes

MINUTES OF A SPECIAL MEETING OF THE BOARD OF DIRECTORS OF PINON PINES METROPOLITAN DISTRICT #1

Held: Monday, July 11, 2022, at 4:00 P.M., by teleconference.

Attendance

The Special Meeting of the Board of Directors of the Pinon Pines Metropolitan District #1, El Paso County, Colorado was called to order at 4:00 P.M. and held as shown above and in accordance with the applicable statutes of the State of Colorado, with the following Directors present and acting:

Mike Hitchcock
Mike Slavick
AJ Slavick

Also present:

Tom Blunk, CP Real Estate Capital – by phone
Russel W. Dykstra, District Counsel
Natalie Barszcz, Our Community News
Vangie Stratton, Hammersmith
George Lenz, Classic Homes
Jim Boulton, Classic Homes
Joe Loidolt, Classic Homes
Ann Nichols, District Manager

Excused Absence:

Chris Paulene

Agenda and Meeting Location

The Board reviewed the Agenda for the Districts’ Special Board Meeting. Following discussion, upon motion duly made by Director Mike Slavick, seconded by Director AJ Slavick, and unanimously carried, the Agenda was approved and Director Paulene was granted an excused absence.

The Board entered into a discussion regarding the requirements of Section 32-1-903(1), C.R.S. concerning the location of the District’s Board meetings. Following discussion, upon motion duly made, seconded and unanimously carried, the Board determined that because there is not a suitable or convenient location within the District’s boundaries to conduct public meetings they determined to conduct the meetings at the above stated location. The Board further noted that notice of this location was duly posted and that they have not received any objections to said location or requests that the meeting place be changed by any resident or taxpaying elector within its boundaries.

Public Comment

None

Present Disclosures of Potential Conflicts of Interest

The Board discussed the requirements of Colorado law to disclose any potential conflicts of interest or potential breaches of fiduciary duty to the Board of Directors and to the Secretary of State. The members of the Board were requested to disclose any potential conflicts of interest with regard to any matters scheduled for discussion at this meeting, and incorporated for the record those applicable disclosures made by the Board Members prior to this meeting in accordance with statute.

Approve Minutes of Regular Meeting of Pinon Pines Metropolitan District No. 1 (December 6, 2021)

Following discussion, upon motion duly made by Director Mike Slavick, seconded by Director AJ Slavick, the Board unanimously approved the December 6, 2021 Minutes.

Approve 2021 Audit

Ms. Nichols explained the documents that Hoelting & Company (PPMD #1’s external auditors) has provided to the Board – financial statements, Board letter and Internal Control letter – and briefly described the information contained in the financial statements. Following discussion upon motion duly made by Director Mike Slavick, seconded by Director AJ Slavick and unanimously approved, the Board accepted the 2021 audit and directed that it be filed with the State.

Review PPMD #1 Financial Statements for April 2022

Ms. Nichols briefly described the financial activity reflected in the April financial statements and noted that an interest payment on the 2020 Loan was made on June 1st and principal ($190,000) and interest payments will be made on December 1st.

Review June 2022 Financial Transactions for PPMD #1

Ms. Nichols described the June financial transactions which will remit pledged revenues from pro-rata property tax and specific ownership tax revenue to the Loan Bank and which will pay Hoelting & Company for their work on the 2021 audit.

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