Confirm the final Supplement signed by the President matches the form the Board reviewed, and post it.

Good practice: approve agreements in final form in open session.

The board action behind it

2026-08-18: Approved Resolution Approving Supplement for Utility Development (release and assignment of Developer reimbursement rights to the National Finance Authority)

What else happened at that meeting

The Board approved the bookkeeper's and tax assessor/collector's reports and deferred a 2026 tax rate recommendation because certified appraisal rolls had not been received. It approved the operator's report, a $609.96 proposal from FastSigns International Inc. for signs along the District's lake (subject to Inframark providing photos of the locations), and a pressure sensor at Irrigation Pump Station No. 7 not to exceed $1,000, after reports of pressure below 40 psi. The Board approved the Engineer's Report and accepted a conveyance of facilities for Prairieland Village Sec. 44. It approved a resolution on a Supplement for Utility Development under which the Developer's rights to reimbursement would be assigned to the National Finance Authority, and the operator reported that Inframark will merge its services with Azuria Water Solutions.

Source: the meeting record › The approved minutes, p. 3 ›

The law and guidance in force on 2026-08-18

District may not contract with a developer for more than TCEQ approved 30 TAC §293.44 (may apply) §293.44: Same text in force then and now	Question	The Supplement amends the utility development agreements; the minutes do not say whether it changes amounts, timing or any District obligation to issue bonds.
Developer interest limits 30 TAC §293.50 (may apply) §293.50: Same text in force then and now	Question	Whether interest on NFA's financing passes through to the District as reimbursable developer interest is not stated.
WCID authority over roads is limited to bridges and culverts where district canals and ditches cross roads Water Code §51.133 (may apply) §51.133: Same text in force then and now	Question	Counsel described the District's UDAs as covering 'recreational facilities and road facilities' as well as water, sanitary sewer and drainage (p.3).
Lawyer representing parties with differing interests Tex. Disciplinary R. Prof'l Conduct 1.06 (may apply)	Question	SPH prepared the Supplement at the Developer's request for WCID 158, and as counsel to MUD 418 presented MUD 418's designation as Representative District acting for WCID 158 on NFA matters (MUD 418 minutes Feb 24 and Aug 25, 2026).

Who's involved

Bridgeland Development, LP (represented by Howard Hughes Holdings, Inc.) (developer)

National Finance Authority (assignee of the Developer's reimbursement rights (conduit bond issuer))

Harris County MUD No. 418 ('Representative District' for NFA financing of Bridgeland projects)

Schwartz, Page & Harding, L.L.P. (SPH) (general counsel and bond counsel)

Possible conflicts

Schwartz, Page & Harding, L.L.P.: Counsel to WCID 158 and to MUD 418, which accepted designation (Feb 24 and Aug 25, 2026) as 'Representative District' for NFA bonds funding the Developer for projects in WCID 158 and six MUDs; no WCID 158 action designating MUD 418 appears in the WCID 158 minutes reviewed. (Minutes_February_24_2026_Approved_HCMUD_418.pdf, PDF p.6; Minutes_August_25_2026_Approved_HCMUD_418.pdf, PDF p.6)

Bridgeland Development, LP: The Developer requested the Supplement; its representative attended. The record does not show any independent financial analysis for the District (Masterson attended but is not recorded as advising). (minutes p.1, p.3)

Cost to the district

No new cost stated; the District's future bond payments for developer-built facilities would go to NFA instead of the Developer. Series 2025/2025A proceeds were already disbursed subject to receipts from both the Developer and NFA (hcid14-site/bridgeland-records/hcwcid158/website/Minutes_October_14_2025_Approved_HCWCID_158.pdf, PDF p.3).

Money or costs moved

HCWCID 158 (future bond proceeds) → National Finance Authority (in place of Bridgeland Development, LP) Developer's rights to payment for eligible reimbursable costs released and assigned to NFA (p.3). Other side: MUD 418 'Representative District' resolutions (MUD 418 minutes Feb 24, 2026 PDF p.6; Aug 25, 2026 PDF p.6); MUD 490 approved a similar supplement Aug 19, 2026.

Why the board approved it

Recorded: “The Developer asked to supplement the Amended and Restated UDAs to release its payment rights and assign them to the National Finance Authority; SPH prepared the form; the Resolution authorizes the President to approve and sign the Supplement 'once in final form' (p.3).”

A change in who the District owes for developer-built facilities, made at the Developer's request, with the final document left to the President. The minutes record no analysis of the effect on the District: amounts, interest, timing of bond issues, or remedies.