The District Board of Directors met on Tuesday, January 20, 2026, at 4:30 P.M.
The Board approved an agreement with Hilltop Securities Asset Management, LLC to perform bond arbitrage compliance and yield-restriction analysis in accordance with IRS requirements. The action ensures the District’s outstanding bonds remain in full compliance with federal regulations governing the investment and monitoring of bond proceeds and reserve funds over time. Due to higher interest rates and construction delays in recent years, arbitrage review has become increasingly important across the public finance industry. Under the approved agreement, Hilltop Securities, already serving as custodian of the District’s bond funds, will provide annual arbitrage calculations for the District’s 2012, 2013, 2018, and 2021 bond issuances, including catch-up analyses to address prior years. The total cost for the catch-up services is $19,500, reflecting a significant discounted rate, and will be funded as an unbudgeted expense within the District’s Finance Professional Services line item. This proactive step supports responsible financial management, regulatory compliance, and long-term fiscal planning for the District.
The Board also approved awarding the Highway 67 Waterline Improvement Project to 4M Services in an amount not to exceed $173,868.92. This project is part of the District’s budgeted Capital Improvements Program and will replace approximately 950 linear feet of 8-inch waterline along Highway 67 (E. Henderson Street), which has experienced recurring leaks. Engineering design for the project was completed by Jacob and Martin Engineers in November, and the project was competitively bid with two construction methods considered. Following a public bid process that generated thirteen proposals and a comprehensive review by District staff and Jacob and Martin Engineers, 4M Services was identified as the lowest responsible bidder for the open-cut installation method. The approved contract amount is within the $233,500 allocated for the project in the District’s 2026 Capital Improvement Budget and supports continued investment in reliable water infrastructure for the community.
The following JCSUD employees were recognized for their years of service with the District: Tyler Lyles (left) for 15 years, and Cole Younger (right) for five years.
