11. Review Arbitrage Engagement Letter. Mr. Wilson presented to and reviewed with the Board the Engagement Letter for Compliance Services (the “Engagement Letter”), a copy of which is attached hereto as Exhibit I. Discussion ensued regarding bonds. Director Maxwell requested that the arbitrage expense be added to the District’s budget since it is an annual expense. Upon motion by Director Maxwell, seconded by Director Jacobs, after full discussion and the question being put to the Board, the Board voted unanimously to approve the Engagement Letter.

Bastiat Liberty & Property Rights Analysis

This motion is scored as EXPANDS_GOVERNMENT (Impact Weight: 2.8/10). Under the Bastiat Liberty Watchdog Index, measures that increase tax rates or fee schedules, issue new debt or Certificates of Obligation, expand regulatory/zoning restrictions on private land use, or authorize unbudgeted spending expansions reduce an official's Freedom Score when voted YES (and reward dissenting NO votes).