for	the	Series	2018 Boggy Creek Note

Dr. Fishkind stated that Fishkind & Associates, Inc. has a Financial Advisory Agreement with the District as does PFM and Mr. Wilder is here representing PFM. Dr. Fishkind stated that part of the Financial Advisory Agreement provided for if the Financial Advisor arranges for a financing that was dete1mined to be in the best interest of the District, then Fishkind would be compensated for that financing at a rate of 75 basis points or 0.75% calculated against the amount of the facility. It is well below the industry standard for these kinds of facilities. Dr. Fishkind would then oversee the provision of the transaction and Mr. Wilder, as the District's other Financial Advisor, would pine about the propriety of the transaction, the value to the District, and the reasonableness of the fee. Mr. Levey asked if the size of the note will change and Dr. Fishkind responded that it is going to come down to $25,000,000.00 and therefore the fee would come down as well.

Mr. Wilder stated that as advisor to the District his company reviewed the various documents prepared by the Attorney. He noted that everything is consistent with the Term Sheet. His team commented on those and the terms have been negotiated as aggressively as possible as you can with the Bank. He noted that this is as good a deal with the Bank as the District could hope to achieve. He stated that he is comfortable advising the District to move forward at this time. Mr. Levey asked if he had an opinion on the size of the placement fee as a percentage. Mr. Wilder responded that in this market comparing it to other underwriting fees it would be 1.5% to 2% for these types of things and this is a lower and more aggressive of a fee then the District has seen from the other firms.

On Motion by Mr. Ventura, second by Ms. Issacs, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved Financial Advisory Agreement Supplement for the Series 2018 Boggy Creek Note, noting that the size of the Note is going to be $25,000,000.00 not the $26,500,000.00 disclosed.

Presentation	of		the Second	Amended	and

Restated Report

Engineer's

Mr. Newton noted that he presented the Second Amended and Restated Engineer's Report to the Board at the last meeting. Mr. Levey asked if there were any changes. Mr. Newton responded that there were no changes. Mr. Ventura asked if there is any action required by the Board. Ms. Mackie responded that no action is required because it will be handled in the assessment resolution that

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the Board will consider later on. Ms. Mackie asked Mr. Newton if the cost estimates identified in the Engineer's Report are reasonable and proper. Mr. Newton responded yes. Ms. Mackie asked him ifhe had any reason to believe that the project cannot be completed as outlined in the CIP. He responded that he does not.

Presentation of the Final Supplemental Assessment Methodology Report for the Series 2018 Bond Anticipation Notes

Dr. Fishkind explained that the District passed a Preliminary Assessment Methodology Report and there has been no change in the methodology. He noted that the only material change has been to reduce the size of the facility. He explained that the production period will now be three years and there is an updated schedule. Dr. Fishkind stated that the facility size was reduced to
$25,000,000.00. He noted that the District can defer the principle for five years but the District can only capitalize interest for four years. He added that since the publication of this agenda there have been additional small changes that various team members have requested. Mr. Levey noted that on Page 1 the size of the issuance has been noted at $25,000,000.00. Mr. Ventura asked if the Developer has seen this and understands the changes. Dr. Fishkind responded yes. Mr. Levey asked if this is ready for final action or if Dr. Fishkind needs to delegate to the Chair for final approval subject to any of the last-minute modifications. Ms. Mackie stated that most of the documents that are appearing as Dr. Fishkind indicated are in close to final form and the Board will be considering a Delegation Award Resolution soon in its agenda which will authorize the Chair and Vice-Chair to accept certain changes with respect to any of the documents that are being presented. Ms. Mackie noted that no specific motion is needed to approve this document and the final version will be attached to the final version of the Supplemental Assessment Resolution that the Board will review later on in the agenda as well.

Consideration Resolution Authorizing

of 2018-08,
the

Issuance of and Awarding the Sale of Its Not	Exceeding
$25,000,000.00 Principle Amount of Boggy Creek Improvement District Special         Assessment

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