Jan 08, 2026 Municipal Development District Board

[00:00:04]

MUNICIPAL DEVELOPMENT DISTRICT BOARD OF THE CITY OF SACHSE WILL HOLD A REGULAR MEETING ON THURSDAY,

[1. Call to Order: The Municipal Development District Board of the City of Sachse will hold a regular meeting on Thursday, January 8, 2026, at 6:00 PM to consider the following items of business:]

7. 7:07 P.M. IT'S IT'S 7 P.M. I KNOW IT'S 6 RIGHT THERE.

I DIDN'T WRITE IT. CHANGE THERE. THAT WAS 7 P.M..

YES. THANK YOU. OKAY. WE NEED SOMEBODY TO DO THE INVOCATION AND SOMEBODY TO DO THE PLEDGE. I COULD DO WHATEVER YOU WANT.

AREN'T YOU? DO YOU DO THE INVOCATION? I'LL DO THE PLEDGE.

ALL RIGHT, LET'S PRAY. OUR FATHER IN HEAVEN. WE'RE GRATEFUL TO COME BEFORE THEE THIS EVENING TO MEET AS A MUNICIPAL DEVELOPMENT DISTRICT BOARD.

WE'RE GRATEFUL FOR THOSE THAT ARE TAKING TIME AWAY FROM THEIR HOMES AND THEIR FAMILIES TO BE HERE TONIGHT TO TO MEET AND TO GATHER.

WE JUST PRAY THAT WE'LL HAVE AN OPEN AND HONEST DISCUSSIONS WITH EACH OTHER AND TO BE RESPECTFUL.

WE PRAY THAT WE WILL ALWAYS BE MINDFUL OF OUR SERVICE, THAT IT IS FOR THE GREATER GOOD OF THE COMMUNITY AS A WHOLE THAT WE ALWAYS SERVE WITH THE PURPOSE, AND THAT WE ALWAYS KEEP IN MIND THE SAFETY OF ALL THOSE IN ALL OF OUR CITIZENS HERE IN SACHSE.

WE'RE SO GRATEFUL AGAIN FOR THIS OPPORTUNITY HERE THIS EVENING.

WE PRAY FOR THESE THINGS IN THE NAME OF JESUS CHRIST. AMEN. AMEN.

I PLEDGE ALLEGIANCE TO THE FLAG OF THE UNITED STATES OF AMERICA, AND TO THE REPUBLIC FOR WHICH IT STANDS.

ONE NATION UNDER GOD, INDIVISIBLE, WITH LIBERTY AND JUSTICE FOR ALL.

HONOR THE TEXAS FLAG. PLEDGE ALLEGIANCE TO THEE, TEXAS.

ONE STATE UNDER GOD, ONE AND INDIVISIBLE. OKAY.

THE PUBLIC IS INVITED TO ADDRESS THE BOARD REGARDING ANY TOPIC NOT ALREADY ON THE AGENDA FOR ACTION OR PUBLIC HEARING COMMENTS REGARDING ANY DISCUSSION. ONLY ITEMS ON THE AGENDA MAY BE ADDRESSED DURING THE PUBLIC.

DURING THIS PUBLIC COMMENT SECTION, THE TIME LIMIT IS 3 MINUTES PER SPEAKER.

A PUBLIC COMMENT CARD SHOULD BE PRESENTED TO THE ACTING SECRETARY PRIOR TO THE MEETING.

ACCORDING TO THE TEXAS OPEN MEETINGS ACT, THE BOARD IS PROHIBITED FROM DISCUSSING ANY ITEM NOT POSTED ON THE AGENDA, BUT WILL TAKE ANY COMMENTS UNDER ADVISEMENT. IS THERE ANYONE HERE WHO WOULD LIKE TO SPEAK TO THE BOARD? LOOKS LIKE WE'RE ALL FAMILY AND FRIENDS. OKAY, SO WE'LL CLOSE OUT THE PUBLIC COMMENT SECTION.

[1. Consider and elect a President, Vice President, and Secretary for the Municipal Depvelopment District Board.]

OKAY. THESE ARE FOR BOARD DISCUSSION AND CONSIDERATION FOR ACTION.

THE PRESIDING OFFICER WILL INVITE COMMENTS BEFORE THE BOARD VOTES.

A PUBLIC COMMENT CARD SHOULD BE GIVEN TO THE ACTING SECRETARY PRIOR TO THE START OF THE MEETING.

ITEM 1. CONSIDER AN ELECT A PRESIDENT, VICE PRESIDENT AND SECRETARY FOR THE MUNICIPAL DISTRICT BOARD.

WOULD ANYBODY FROM THE AUDIENCE LIKE TO ADDRESS THE BOARD ABOUT THIS ITEM? OKAY. SEEING NONE MR. KEMPER, CAN I TAKE A MINUTE TO TALK ABOUT THIS ITEM REAL QUICK? SAY WHAT? CAN I TAKE A MINUTE TO TALK ABOUT THIS ITEM REAL QUICK? SURE.

OKAY. SO JUST FYI, THE MUNICIPAL DEVELOPMENT DISTRICT, I KNOW SOME OF YOU ARE ALSO SERVING ON THE PARK BOARD, BUT THE THIS IS A FIDUCIARY COMMITTEE OR BOARD, SO IT HAS SOME FINANCIAL RESPONSIBILITIES.

AND SO IT IS A BOARD WHERE WE ELECT OFFICERS AND THE OFFICERS DO SERVE AS A, A PRESIDENT.

VICE PRESIDENT. DO WE DO SECRETARY IN HERE? WE ALSO DO SECRETARY TO HAVE THOSE POSITIONS FILLED.

JERMAINE MCDANIEL WAS OUR PRESIDENT BEFORE, AND I BELIEVE HE IS NOW IN P&Z.

ED. EDC, ECONOMIC DEVELOPMENT CORPORATION BOARD.

JERMAINE WAS WITH US FOR SEVERAL TERMS. I WANT TO SAY AT LEAST 6 YEARS, PROBABLY LONGER.

AND SO BUTCH WAS OR IS OUR VICE PRESIDENT AND HAS SERVED IN THAT CAPACITY FOR A COUPLE OF YEARS NOW.

IT'S IT'S IT'S THE SECRETARY. IS THERE FOR REALLY AS A BACKUP?

[00:05:02]

BUT IT'S JUST ANOTHER POSITION THAT YOU CAN HOLD THAT WE CAN LEAN ON IN CASE WE NEED SOME SOMEBODY IN A IN AN ELECTED POSITION OR FROM THIS BOARD.

A LOT DIFFERENT THAN THE PARK BOARD, BECAUSE WE DO TALK ABOUT SOME OF THE SIMILAR THINGS.

WE DON'T GIVE REPORTS FROM THE RECREATION DIVISION OR THE COMMUNITY CENTER.

IT'S MORE REALLY PROJECTS BECAUSE WE SELECT PROJECTS THAT WE MAKE RECOMMENDATIONS TO THE COUNCIL ON FOR MDD PROJECTS OUR BUDGET ANNUALLY FOR THE MDD BOARD.

WE'RE GOING TO BE A LITTLE SHORT OF 900,000 IN IN 2025 BUDGET YEAR.

AND IT'S BETWEEN 8 AND 900,000 EACH YEAR. MOST OF THE FUNDS OVER THE LAST.

ALL OF THE FUNDS ACTUALLY OVER THE LAST. I'LL SAY MOST BECAUSE WE USE THEM FOR MAINTENANCE.

BUT 98% OF THE BUDGET HAS BEEN DEDICATED TOWARD JK SACHSE PARK.

YOU KNOW, WE'VE DONE 3 PHASES THERE. PHASE 1 SPLASH PAD, THE PAVILION, THE RESTROOM, VOLLEYBALL COURT.

PHASE 2 WAS THE PICKLEBALL COURT, AND PHASE 3 WAS THE PLAYGROUND, WHICH WE COMPLETED THIS YEAR.

THAT PROJECT IS ALMOST DONE. BUT DURING THIS PAST YEAR, AN OPPORTUNITY CAME FOR SOME LAND TO OPEN THAT OPENED UP NEXT TO THE JC SACHSE PARK.

THE CITY MANAGER'S OFFICE CAME, PRESENTED IT TO THE BOARD AS ANOTHER OP, ANOTHER PROJECT, FUTURE PROJECT. IT WAS UNANIMOUS ON THIS BOARD THAT WE MOVE FORWARD ON USING FUNDS TO PURCHASE THAT LAND.

SO THAT'S 2026. BUDGET HAS ALREADY BEEN DEDICATED TO THAT LAND PROJECT.

SO AS FAR AS DISCUSSION ON FUTURE PROJECTS, WE'LL PROBABLY START THAT THIS.

PROBABLY IN THE NEXT MEETING. MAYBE THE 1 AFTER THAT.

BUT THAT'S REALLY THE PURPOSE OF THIS BOARD. IT'S REALLY TO MOVE PARKS AND REC PARKS SPECIFICALLY IN THE DIRECTION OF PROGRESSING, FINDING THE NEEDS OF THE COMMUNITY, FINDING SOME COOL PROJECTS, THINGS THAT YOU'D LIKE TO SEE IN THE CITY.

IT'S VERY DIFFICULT TO FIND LAND IN THE CITY.

SO THAT'S WHY WHEN THIS CAME UP, WE REALLY TOOK ADVANTAGE OF IT.

AND IT'S IN COLLIN COUNTY. FOR THOSE THAT DIDN'T KNOW, JK PARK IS OUR ONLY PARK IN COLLIN COUNTY.

SO AND THAT WAS DONATED LAND TO US. AND SO WE TOOK WE TOOK THE MONEY.

ALL EVERYTHING AT EVERYTHING AT JK HAS BEEN MUNICIPAL DEVELOPMENT FUNDS.

ALL OF IT. ALL OF IT'S QUARTER CENT SALES TAX.

SO KEEP THAT IN MIND. WE DON'T MEET MONTHLY. WILL MEET QUARTERLY.

KIND OF LINE UP WITH THE FINANCIAL OBLIGATIONS THAT WE HAVE, BECAUSE YOU HAVE TO APPROVE THE INVESTMENT STRATEGY AND INVESTMENT REPORTS EVERY QUARTER. WE'LL LINE IT UP WITH THAT EVERY ONCE IN A WHILE.

THERE'S LIKE A MEETING. WE NEED TO HAVE EXAMPLES.

WHEN WE NEEDED TO TALK ABOUT THE LAND WE HAD, WE SQUEEZED A MEETING IN THERE FOR EVERYONE TO COME AND DISCUSS THAT AND APPROVE THAT PROCESS. SO THAT'S THAT'S THIS ROLE OF THIS BOARD.

AGAIN MISS BUHLER SERVES AS A LIAISON FROM THE COUNCIL.

I'M THE LIAISON FOR STAFF. BUT YOU GUYS ARE THE BOARD MEMBERS THAT MOVE THE WORK FORWARD.

THAT WITH THAT BEING SAID. SO OPPORTUNITIES TO SERVE IN LEADERSHIP POSITIONS ON THE BOARD, ALWAYS A GREAT OPPORTUNITY. AND THEN IT'S A PRIVILEGE.

SO AS YOU DISCUSS OPTIONS YOU KNOW I'M NOT GIVING ANY GUIDANCE AT ALL, BUT IT'S IT'S A GOOD, GOOD OPPORTUNITY. SO KEEP THAT IN MIND. I DIDN'T HEAR YOU MENTION WHAT OUR FUNDING COMES FROM.

A QUARTER OF A CENT OF SALES TAX. THE CITY GETS TO COLLECT TWO AND A QUARTER, AND THAT QUARTER COMES TO US. AND THE, THE, THE MALSOUNCIL WHEN THEY SET UP THE MDD BY FIAT FROM THE FROM THE PODIUM, IT WAS THAT TOLD TO US THAT THAT THAT THE MONEY WE GET IS FOR PARKS. THAT'S THE ONLY PLACE WE CAN SPEND IT ON.

AND SO YEAH, IT'S BEEN EXCITING. WE'VE GOTTEN A LOT OF THINGS DONE IN FIRST.

AND TO HEAR THAT IT'S GOING, I THINK OUR FIRST YEAR IT WAS $320,000.

YEAH, IT MIGHT HAVE BEEN A LITTLE LESS THAN THAT. YEAH, IT WAS SOMEWHERE IN THAT $300,000 RANGE, AND NOW IT'S UP IN THE $900 RANGE. SO IT'S. YEAH.

[00:10:05]

IT PASSED BY ALMOST 60%. AND THEN RIGHT AFTER THAT THE COUNCIL MADE A RESOLUTION TO DEDICATE ALL MDD QUARTER CENT SALES TAX FUNDS, MDD FUNDS TO PARKS. YEAH. EXCLUSIVELY. I GUESS THAT COULD CHANGE.

BUT RIGHT NOW IT IS ALL DEDICATED TO TO PARKS.

THERE IS A THERE IS A ROAD IMPROVEMENT FUND. THEY ALSO GET A QUARTER CENTS AND THEN EDC GETS A HALF CENT AND BUT WE WE GOT THAT. WE GOT THAT LAST QUARTER. WE DID YOU GO BUY A SUBWAY AT SUBWAY.

AND YOU GET I REMEMBER IT WAS USED TO BE 7.75% AND EVERYONE AROUND US WAS 8.25, AND THEN PUBLIC WORKS GOT 0.25 AND THEN WE GOT 5. SO IT'S REALLY HELPED OUT. YEAH. JUST TO HISTORY, THE FIRST THING WE DID IS WE WE DID A FACELIFT ON A LOT OF OUR PLAYGROUNDS.

THAT WAS LIKE THE FIRST YEAR WE HAD 300,000, LIKE MR. KEMPER SAID. AND WE DID A FACELIFT ON THAT. AND THEN WE.

SO BECAUSE WE WANTED TO KIND OF MAKE AN IMMEDIATE IMPACT, THAT WAS THE EASIEST WAY TO DO IT.

AND THEN PEOPLE COULD SEE THAT, THAT, THAT THE MONEY WAS GOING INTO SOMETHING BECAUSE SOME OF THE OTHER PROJECTS HAVE BEEN LONG TERM, YOU KNOW, LIKE THE JK SACHSE PARK, IT'S BEEN A LONG TERM AND YOU COULDN'T SEE IT HAPPENING AS IT, AS IT WAS HAPPENING. SO YEAH. OKAY. WELL, NOW WE COME DOWN TO THE ACTION ITEM.

WE NEED TO HAVE A PRESIDENT, A VICE PRESIDENT, AND A SECRETARY FOR THE BOARD, AND FIRST OF ALL, WE'LL DO ONE AT A TIME. WE'RE GOING TO DO THEM ONE AT A TIME.

AND FIRST OF ALL, WE ASK, IS ANYONE FROM THE AUDIENCE LIKE TO MAKE A NOMINATION? SEEING NONE. WOULD SOMEBODY FROM THE BOARD PRESENT A NOMINATION? WE'RE DOING THIS FOR THE THE PRESIDENT OF THE BOARD.

I'D LIKE TO NOMINATE OUR CURRENT VICE PRESIDENT TO BE PRESIDENT.

[INAUDIBLE] A MOTION TO NOMINATE THE ME, GEORGE KEMPER.

DO I HAVE A SECOND? I SECOND THE MOTION. OKAY.

WE HAVE A MOTION. AND SECOND. ANY QUESTIONS? CAST OUR BALLOTS.

OKAY. WHAT DO I DO HERE? SHOULD JUST POP UP.

I MEAN, I SUPPOSE THAT'S WHAT I FORGOT TO DO.

I FORGOT TO VOICE IT, TOO. IS THAT RIGHT, JENNIFER? OH, YOU GOT IT. I THINK EVERYBODY FINISHED THEIR GROUP.

SO HIS MOTION IS PASSED. OKAY, GOOD. OKAY. NOW WE NEED A MOTION FOR THE VICE PRESIDENT. ANYBODY FROM THE AUDIENCE? SEEING? NONE. WOULD SOMEONE FROM THE BOARD LIKE TO MAKE A MOTION FOR THE VICE PRESIDENT? I'LL DO IT. YES, MA'AM. SHE SHE SHE WOULDN'T MIND DOING IT.

SHE SAID SHE'S NOMINATING HERSELF.

MY NAME IS ALICIA. ALICIA. ALICIA. OKAY, WE HAVE A.

ALL RIGHT. WE HAVE A MOTION TO ELECT TO NOMINATE ALICIA LYNN FROM AS THE VICE PRESIDENT OF THE COMMITTEE. DO I HAVE A SECOND? I'LL SECOND THE MOTION.

SECOND. SECOND. THANK YOU. WE HAVE MOTION. AND A SECOND.

ANY FURTHER DISCUSSION? THERE BEING NONE, PLEASE CAST YOUR BALLOT.

ONE THING TO TALK TO ME. YOU TO JOIN THE MEETING.

OH, I GOTTA JOIN THE MEETING. IT'S. NOT LIKING ME.

SHE GOT YOU, THOUGH. OH, WELL, I VOTE? AFFIRMATIVE.

ALL RIGHT. IT PASSED UNANIMOUS. AND SO NOW WE HAVE COME TO

[00:15:04]

OKAY. PARKER. LILLIAN.

DANIELLE. DANIELLE. PARKER. OKAY. WE HAVE A MOTION FOR DANIELLE PARKER TO BE SECRETARY FOR THE BOARD. DO WE HAVE A SECOND? YOU HAVE A SECOND? OKAY, WE HAVE A SECOND. ALL IN FAVOR? ANY FURTHER DISCUSSION? ALL IN FAVOR, PLEASE CAST YOUR BALLOT.

WHAT ARE YOU DOING HERE? YOU DON'T LIKE ME? PRESENT IN VOTING? YES.

HAS EVERYBODY ELSE IS POPULATED? BECAUSE I'M NOT GETTING ANY VOTES IN.

I HAVE NOTHING.

OKAY, I'LL JUST DO IT. THANK YOU. I APPRECIATE THAT, BUT, YOU KNOW, I'LL TELL YOU, THIS ELECTRONICS IS GOING TO BE THE DEATH OF US.

OKAY. WE HAVE IN YOUR PACKET SOMEWHERE, I THINK,

[2. Consider approving the October 16, 2025, regular meeting minutes.]

THANK YOU. SECOND I SECOND THE MOTION. OKAY. THANK YOU.

NO DISCUSSION. SO WOULD YOU PLEASE CAST YOUR BALLOT? HEY, THERE IT IS. YES.

IT WORKED FOR THE LAST BALLOT. WONDERFUL. SO, JENNIFER, IN THE FUTURE.

SO FUTURE MEETINGS. AND LISA WILL SIT RIGHT NEXT TO BUTCH ON THIS SIDE.

IS THERE A IS THERE A PLACE FOR THE SECRETARY? EXACTLY WHERE JIM IS. RIGHT HERE. OKAY. YEAH.

OKAY. OKAY. NEXT ITEM IS ITEM 3. CONSIDERING ACCEPTING THE QUARTERLY INVESTMENT REPORT FOR THE QUARTER

[3. Consider accepting the Quarterly Investment Report for the quarter ending June 30, 2025.]

ALL THOSE NUMBERS. WELL, I WOULD ENTERTAIN A MOTION FROM THE BOARD TO TO APPROVE THEM.

I MAKE A MOTION THAT WE APPROVE THE QUARTERLY INVESTMENTS ENDING JUNE 30TH.

OKAY. CAN WE HAVE A SECOND? I SECOND. OKAY. ANY DISCUSSION? OKAY. SEEING NONE, LET'S CAST THEIR BALLOTS. WELL, LOOK AT THERE.

WE'RE GETTING ON. VERY GOOD. ALL RIGHT. PASSED UNANIMOUSLY. WE HAVE ANOTHER QUARTERLY INVESTMENT REPORT FOR THE QUARTER ENDING 30TH SEPTEMBER 2025.

[4. Consider accepting the Quarterly Investment Report for the quarter ending September 30, 2025.]

APPROVE THESE THIS QUARTERLY INVESTMENT REPORT.

I'LL MAKE A MOTION THAT WE APPROVE THE QUARTERLY INVESTMENT REPORT FOR THE QUARTER ENDING SEPTEMBER 30TH.

[00:20:06]

THANK YOU. ANY FURTHER DISCUSSION? SEEING NONE.

PLEASE CAST YOUR BALLOT. MAN, SHE'S GETTING FASTER THAN I AM.

ON A DIFFERENT SCREEN. YEAH. OKAY. IT PASSED 7-0.

SO UNANIMOUS. OKAY. WE HAVE A DISCUSSION ITEM HERE TO RECEIVE A STAFF REPORT.

ONE MORE ACTION ITEM. WHAT'S THAT? YEAH. OH, SORRY.

[5. Consider accepting the City of Sachse Investment Policy for FY 2025-2026 as adopted by the City Council on November 17, 2025.]

I MOVE THAT WE ACCEPT THE CITY OF SACHSE INVESTMENT POLICY FOR FISCAL YEAR 2025-2026, AS ADOPTED BY THE CITY COUNCIL ON NOVEMBER 17TH, 2025. THANK YOU. IN A SECOND. AND WE HAVE SECOND SOMEWHERE OVER HERE.

YES, I DID SECOND. OKAY, GOOD. IS THERE ANY. I HAVE A MOTION AND A SECOND.

IS THERE ANY DISCUSSION? SEEING NONE. PLEASE CAST YOUR VOTE.

AND THAT PASSED 7 TO 0. UNANIMOUSLY. OKAY. THAT'S ALL THE ACTION ITEMS. THE LAST ITEM IS A IS FOR A REPORTING AND DISCUSSION.

[1. Receive an update on the purchase of property adjacent to J.K. Sachse Park.]

YES. SO I BRIEFLY MENTIONED THIS IN THE PARKS AND RECREATION RECREATION BOARD MEETING AND IN MY REPORT TO TO THIS BOARD.

BUT THE CITY DID SUBMIT A SUBMIT A PURCHASE BID, WHATEVER PRICE FOR THE FOR THE LAND.

AND THROUGH NEGOTIATIONS WITH THE BROKER THEY SETTLE ON A ON A PRICE THAT DID NOT EXCEED THE THE AMOUNT THIS BOARD APPROVED. OKAY. ON THE LAST MEETING I WON'T DISCLOSE THE EXACT AMOUNT YET BECAUSE I THINK THERE'S STILL SOME MITIGATION GOING ON THAT STILL WON'T EXCEED THE PRICE THAT WE SET FROM THE LAST MEETING.

AND THOSE THAT WERE IN THAT MEETING KNOWS THAT AMOUNT.

AND LIKE I SAID, THERE'S REALLY NO PLANS FOR THE LAND YET.

THE ONLY THE ONLY AMENITY THAT WE'VE TALKED ABOUT IS PARKING, BECAUSE THOSE THAT HAVE BEEN THERE FOR EVEN A SPLASH PAD DAY WITH YOUR FAMILY, THERE'S PEOPLE PARKING ON THE STREET EVERYWHERE.

AND IF YOU GO DOWN, I DON'T KNOW IF IT'S GOING TO HELP THE VOLLEYBALL COURT, BUT IT'LL DEFINITELY HELP THAT PICKLEBALL AREA IN THE SPLASH PAD ON THE PLAYGROUND.

AND WE ADDED A PLAYGROUND. SO WE HAVE A SPLASH PAD AND PLAYGROUND. SO FOR SURE THAT'S THAT'S ONE AREA WE WANT TO ADDRESS.

HOWEVER RIGHT NOW WE JUST NEED TO SOLIDIFY THE LAND AND GET THAT TAKEN CARE OF, AND THEN WE'LL MOVE FORWARD ON DISCUSSING SOME OPTIONS FOR AMENITIES IN THE IN THE NEW PARK AT THE NEW IN THE NEW PARCEL. SO THAT IS ALL I HAVE ON THAT.

OKAY. CAN I ADD SOMETHING? OF COURSE. I JUST WANT TO SAY WE HAVE SOME NEW MEMBERS HERE.

OH, YES. MAKE SURE YOU GUYS ARE LIKE LIKE THE THE PARK.

I DON'T KNOW IF Y'ALL KNOW WHERE IT IS. IF YOU'VE BEEN BY THERE, MAKE SURE YOU DRIVE BY THERE AND TAKE A LOOK. AND YOU CAN SEE WHAT HE'S BEEN TALKING ABOUT. THE LAND RIGHT ACROSS THE STREET. YOU KNOW, IT'S, YOU KNOW, POTENTIAL EXPANSION AND PARKING FOR THE PARK.

I PLAY PICKLEBALL, SO I GO OUT THERE AND I KNOW THERE ARE TIMES WHEN YOU GO IN AND YOU CAN'T EVEN FIND A PARKING SPOT, OR IF THERE'S ACTIVITIES GOING ON. AND THEY'VE CLEARED MOST OF THE STUFF OFF OF THERE.

YEAH, I SAW THAT, TOO. THEY PICKED UP. THEY HAD A COUPLE OF BIG CONTAINERS OUT THERE THAT'S CALLED.

YOU KNOW, THERE HAVE BEEN SOME QUESTIONS RAISED ABOUT WHAT WILL WE DO WITH IT.

IT WAS JUST THE OPPORTUNITY TO ACQUIRE IT WAS THERE AND WE HAD THE MEANS TO ACQUIRE IT.

SO WE DID. AND NOW WE'LL FIGURE OUT WHAT WE'RE GOING TO DO WITH IT, BECAUSE I'D SURE HATE TO SEE SOMEBODY GET SOMETHING.

[00:25:04]

SO AS WE MOVE FORWARD, THAT'S YOU'LL BE MAKING SOME DECISIONS ON ON THAT.

OKAY. NOTHING ELSE. CAN I DECLARE THE MEETING CLOSED? THANK YOU.

* This transcript was compiled from uncorrected Closed Captioning.