QUARRY COMMUNITY DEVELOPMENT DISTRICT COLLIER COUNTY SPECIAL BOARD MEETING MAY 3, :00 A.M.

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1 QUARRY COMMUNITY DEVELOPMENT DISTRICT COLLIER COUNTY SPECIAL BOARD MEETING MAY 3, :00 A.M. Special District Services, Inc Riverview Center Boulevard, #253 Bonita Springs, FL Telephone 877.SDS.4922 Toll Free Facsimile

2 AGENDA QUARRY COMMUNITY DEVELOPMENT DISTRICT The Quarry Beach Club 8975 Kayak Drive Naples, Florida SPECIAL BOARD MEETING May 3, :00 a.m. A. Call to Order B. Proof of Publication..Page 1 C. Establish Quorum D. Additions or Deletions to Agenda E. Comments from the Public for Items Not on the Agenda F. Approval of Minutes 1. April 17, 2018 Regular Board Meeting & Continued Public Hearing Minutes..Page 2 G. Old Business H. New Business 1. Consider Approval of Approval of Change Order to JR Evans Engineering for Construction Management and Materials Testing Page 9 2. Consider Approval of Contract with Metro Equipment Services for the Limited Purpose of Purchasing Materials 3. Consider Approval of Engagement Letter with Bond Counsel...Page Consider Resolution No Bond Resolution Page 13 I. Administrative Matters J. Board Members Comments K. Adjourn

3 Naples Daily News April 26, 2018 Miscellaneous Notices NOTICE OF SPECIAL BOARD OF SUPERVISORS' MEETING OF THE QUARRY COMMUNITY DEVELOPMENT DISTRICT The Board of Supervisors of the Quarry Community Development District will hold a Special Meeting of the Board of Supervisors on May 3, 2018, at 10:00 a.m. at The Quarry Beach Club located at 8975 Kayak Drive, Naples, Florida The purpose of the Special Meeting is for the Board to consider the Bond Resolution and associated documents and any other business which may properly come before the Board. The meeting is open to the public and will be conducted in accordance with provisions of Florida law. The meeting may be continued to a date, time, and place to be specified on the record at the meeting. A copy of the agenda for this meeting may be obtained from the District's website or from the District Manager, Special District Services, Inc., Riverview Center Blvd., #253, Bonita Springs, Florida There may be occasions when staff or other individuals may participate by speaker telephone. Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations at this meeting because of a disability or physical impairment should contact District Office at , at least 48 hours before the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service at , who can aid you in contacting the District Office. A person who decides to appeal any decision made by the Board or the Committee with respect to any matter considered at the meeting is advised that this same person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based. Meetings may be cancelled from time to time without advertised notice. Kathleen Dailey District Manager QUARRY COMMUNITY DEVELOPMENT DISTRICT April 26, 2018 No Page 1

4 QUARRY COMMUNITY DEVELOPMENT DISTRICT CONTINUED PUBLIC HEARING & REGULAR BOARD MEETING APRIL 17, 2018 A. CALL TO ORDER The April 17, 2018, Regular Board Meeting of the Quarry Community Development District was called to order at 11:02 a.m. at the Quarry Beach Club located at 8975 Kayak Drive, Naples, Florida B. PROOF OF PUBLICATION Proof of publication was presented that notice of the Regular Board Meeting had been published in the Naples Daily News on January 5, 2018, as legally required. C. ESTABLISH A QUORUM It was determined that the attendance of the following Supervisors constituted a quorum and it was in order to proceed with the meeting: Chairman Barry J. Demovsky Present Vice Chairman Ronald Rex Present Supervisor Glenn Hollrah Present Supervisor Thomas Oldag Present Supervisor Richard Doll Present Staff members in attendance were: District Manager Kathleen Dailey Special District Services, Inc. District Counsel Wes Haber (via phone) Hopping Green & Sams District Engineer Josh Evans JR Evans Engineering Also present were: Michael McElligott (via conference call) and Len Lindahl of Special District Services, Inc.; Clark Bennett of Spectrum Municipal Services, Inc.; Abbey Fiallo of Metro Equipment Services, Inc; and the District residents indicated on the attached sheet. D. ADDITIONS OR DELETIONS TO THE AGENDA Mr. Demovsky requested the addition of the following topic under New Business: Approval of Property Owners Agreement to Go on Conservation Wetland Area with Collier County Sheriff. A motion was made by Mr. Rex, seconded by Mr. Oldag and passed unanimously to add this item under New Business. 1 Page 2

5 QUARRY COMMUNITY DEVELOPMENT DISTRICT CONTINUED PUBLIC HEARING & REGULAR BOARD MEETING APRIL 17, 2018 E. COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA There were no comments from the public for items not on the agenda. F. APPROVAL OF MINUTES 1. April 9, 2018, Public Hearing & Regular Board Meeting The April 9, 2018, Public Hearing & Regular Board Meeting minutes were presented for approval. Mr. Oldag noted that the location of the meeting should reflect Quarry Beach Club located at 8975 Kayak Drive, Naples, Florida A motion was then made by Mr. Rex, seconded by Mr. Hollrah and passed unanimously approving the April 9, 2018, Public Hearing & Regular Board Meeting minutes, as amended. G. DISCUSSION REGARDING FINANCING OPTIONS FOR SHORELINE REPAIR PROJECT Mr. Lindahl went over the financial background of the Hurricane Irma shoreline repair project and the impact on assessments, whether the Board chooses a $2.5 Million or $3.5 Million project alternative. He stated that Florida Community Bank, should the board choose the higher level project, would keep the same terms of 15 years at a 3.05% interest rate. He explained the differences in assessments for each category and the process, if the Board chooses the higher level project. The Regular Board Meeting was recessed and the Public Hearing was opened. H. PUBLIC HEARING Levy Non Ad- Valorem Assessments (Continued from the April 9, 2018, Meeting) 1. Proof of Publication Proof of publication was presented that notice of the Public Hearing had been published in the Naples Daily News on March 16, 2018, and March 23, 2018, as legally required. 2. Receive Public Comment Regarding Intent to Levy Non-Ad Valorem Assessments Mr. Haber explained that the Board needed to choose which project amount they wished to move forward with, as this public hearing had previously been set for the lower amount. Mr. Oldag asked if the larger project would get in the way of a May 21 st start date. Mr. Evans responded that the lowest bidder, Metro, was prepared to move forward, provided the Board gives them a comfort level with something in writing. Mr. Haber stated that the higher level bond would close on May 4 th and the full contract could be done after the assessment public hearing and the money is secured. He added that if the Board did not 2 Page 3

6 QUARRY COMMUNITY DEVELOPMENT DISTRICT CONTINUED PUBLIC HEARING & REGULAR BOARD MEETING APRIL 17, 2018 levy a debt assessment, they would need to cover the amount in the O&M assessment to pay off the upfront costs provided from the bank unsecured. Ms. Fiallo stated that she needs a letter of commitment from the District because 30,000 tons will need to be mined soon in order to stockpile for a May 21 st start date. Mr. Haber advised that he would need to review the laws for obligation for such a letter and indicated that the Board could authorize, subject to his review. A motion was made by Mr. Oldag, seconded by Mr. Demovsky and passed unanimously authorizing the Chair to execute a letter of commitment with Metro Equipment Services, Inc., acknowledging the District s intent to move forward on closing the bond on May 4 th, subject to legal review. A motion was then made by Mr. Rex, seconded by Mr. Oldag and passed unanimously to close the Public Hearing and reconvene the Regular Board Meeting, as Items 3-5 below were not necessary since a new assessment public hearing was being set. 3. Consider Adjusting and Equalizing Non-Ad Valorem Special Assessments Based on Comments from the Public Please see above action taken. 4. Consider Approval of the Project and the Levy of Special Assessments Please see above action taken. 5. Consider Resolution No (1) Levying Special Assessments; and (2) Adoption of Final Assessment Roll Please see above action taken. 6. (ADDED ITEM) Approval of Property Owners Agreement to Go on Conservation Wetland Area with Collier County Sheriff Mr. Demovsky stated that the agreement had been requested by the Sheriff, so that they could obtain authorization to patrol the conservation area. A motion was made by Mr. Rex, seconded by Mr. Doll and passed unanimously authorizing the Collier County Sheriff to patrol the conservation area, as presented. I. OLD BUSINESS 1. Review Bid Summary of the Proposals for Construction Services for Hurricane Irma Repairs 3 Page 4

7 QUARRY COMMUNITY DEVELOPMENT DISTRICT CONTINUED PUBLIC HEARING & REGULAR BOARD MEETING APRIL 17, 2018 Mr. Evans noted that the Board had previously reviewed the bids during the April 9 th meeting. 2. Review and Choose Design Option for Hurricane Irma Repairs A motion was made by Mr. Rex, seconded by Mr. Hollrah and passed unanimously to select the $3.5 Million Hurricane Irma shoreline repair project. 3. Award of Contract for Construction Services for Hurricane Irma Shoreline Repairs to Metro Equipment Services, Inc. Mr. Demovsky reminded those present that a letter of commitment for the Chair s execution had previously been approved during today s meeting. J. NEW BUSINESS 1. Consider Approval of a Revised Engineer s Report A motion was made by Mr. Rex, seconded by Mr. Demovsky and passed unanimously approving the Revised Engineer s Report, dated April 15, Consider Approval of a Revised Special Assessment Methodology Report A motion was made by Mr. Rex, seconded by Mr. Demovsky and passed unanimously approving the Revised Special Assessment Methodology Report, dated April 17, Consider Resolution No Declaring Special Assessments Related to Refunding Resolution No was presented, entitled: RESOLUTION A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE QUARRY COMMUNITY DEVELOPMENT DISTRICT DECLARING SPECIAL ASSESSMENTS; INDICATING THE LOCATION, NATURE AND ESTIMATED COST OF THOSE INFRASTRUCTURE IMPROVEMENTS WHOSE COST IS TO BE DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE ESTIMATED COST OF THE IMPROVEMENTS TO BE DEFRAYED BY THE SPECIAL ASSESSMENTS; PROVIDING THE MANNER IN WHICH SUCH SPECIAL ASSESSMENTS SHALL BE MADE; 4 Page 5

8 QUARRY COMMUNITY DEVELOPMENT DISTRICT CONTINUED PUBLIC HEARING & REGULAR BOARD MEETING APRIL 17, 2018 PROVIDING WHEN SUCH SPECIAL ASSESSMENTS SHALL BE PAID; DESIGNATING LANDS UPON WHICH THE SPECIAL ASSESSMENTS SHALL BE LEVIED; PROVIDING FOR AN ASSESSMENT PLAT; ADOPTING A PRELIMINARY ASSESSMENT ROLL; PROVIDING FOR PUBLICATION OF THIS RESOLUTION. A motion was made by Mr. Rex, seconded by Mr. Oldag and passed unanimously to adopt Resolution No , as presented. 4. Consider Resolution No Setting a Public Hearing on Imposing Special Assessments Related to Refunding Resolution No was presented, entitled: RESOLUTION A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE QUARRY COMMUNITY DEVELOPMENT DISTRICT SETTING A PUBLIC HEARING TO BE HELD ON MAY 21, 2018, AT 1:30 P.M. AT THE QUARRY BEACH CLUB, 8975 KAYAK DRIVE, NAPLES, FLORIDA 34120, FOR THE PURPOSE OF HEARING PUBLIC COMMENT ON IMPOSING SPECIAL ASSESSMENTS ON CERTAIN PROPERTY WITHIN THE DISTRICT GENERALLY DESCRIBED AS THE QUARRY COMMUNITY DEVELOPMENT DISTRICT IN ACCORDANCE WITH CHAPTERS 170, 190 AND 197, FLORIDA STATUTES. A motion was made by Mr. Demovsky, seconded by Mr. Rex and passed unanimously to adopt Resolution No , as presented, setting the Public Hearing for May 21, 2018, at 1:30 p.m. at the Quarry Beach Club located at 8975 Kayak Drive, Naples, Florida and cancelling the May 15, 2018, Regular Board Meeting. 5. Consider Resolution No Adopting a Fiscal Year 2018/2019 Proposed Budget Resolution No was presented, entitled: RESOLUTION Page 6

9 QUARRY COMMUNITY DEVELOPMENT DISTRICT CONTINUED PUBLIC HEARING & REGULAR BOARD MEETING APRIL 17, 2018 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE QUARRY COMMUNITY DEVELOPMENT DISTRICT APPROVING PROPOSED BUDGETS FOR FISCAL YEAR 2018/2019 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW; ADDRESSING TRANSMITTAL, POSTING AND PUBLICATION REQUIREMENTS; ADDRESSING SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE. Mr. McElligott went over the proposed budget that included a $50 per home increase in Operations and Maintenance (O&M) in order to build up reserves. He stated that the engineering and legal line items had been increased due to additional services that may be needed for construction. Mr. Haber added that the budget reflects a $3.5 Million debt assessment and further stated that a footnote should be added that if the debt assessments to secure the loan are not approved, all incurred costs, which will not exceed $650,000, will be assessed as an O&M assessment to all landowners. A motion was made by Mr. Oldag, seconded by Mr. Rex and passed unanimously to adopt Resolution No , amended to add the above noted footnote. Ms. Olilla stated that the in the QCA budget they are responsible for maintenance and they would like an estimate of what a maintenance repair budget should look like so that it can be ongoing on an annual basis. Mr. Demovsky noted that both sides had been remiss on follow-up with this issue. Mr. Evans indicated that he would soon be walking the entire property with respect to the repair project and would put together numbers shortly thereafter. K. ADMINISTRATIVE MATTERS Ms. Dailey reminded the Board that the May 15, 2018, Regular Board Meeting had been cancelled, but that the Public Hearing on the Special Assessment had been scheduled for May 21, 2018, at 1:30 p.m. and the Public Hearing on the fiscal year 2018/2019 budget was scheduled for June 19, Mr. Haber advised that an additional meeting would need to be held prior to May 21, 2018, in order for the Board to consider the new bond resolution and other related documents. After discussion, a motion was made by Mr. Rex, seconded by Mr. Doll and passed unanimously setting a Special Meeting for Thursday, May 3, 2018, at 10:00 a.m. at the Beach Club location. L. BOARD MEMBER COMMENTS 6 Page 7

10 QUARRY COMMUNITY DEVELOPMENT DISTRICT CONTINUED PUBLIC HEARING & REGULAR BOARD MEETING APRIL 17, 2018 Mr. Oldag noted that the location of the Public Hearing in Resolution that had been approved today needed to be changed to the Beach Club. It was the consensus of the Board to do so. District resident Stan Omland commended the Board for their decision regarding the repair project. He asked Mr. Evans about access, staging and dock removal. Mr. Evans noted that the documents were being prepared and would address those and other coordination issues. There was a general discussion on staging. Mr. Rex volunteered, and it was the consensus of the Board, for him to attend any meetings regarding coordination on behalf of the Board. M. ADJOURNMENT There being no further business to come before the Board, the Regular Board Meeting was adjourned at 12:35 p.m. on a motion made by Mr. Rex, seconded by Mr. Oldag and passed unanimously. Secretary/Assistant Secretary Chair/Vice-Chair 7 Page 8

11 JRE # CHANGE ORDER#1 FOR CONSULTANT SERVICES PROJECT NAME/PHASE: DATE: April 26, 2018 Quarry CDD-Hurricane IRMA Shoreline Damage ORDERED BY: Kathleen Dailey FEE BREAKDOWN: Original Contract Fee: $110, CO Amount: $102, (Fixed) Revised Contract Fee: $212, NEW SCOPE ITEMS: IV. Construction Management - $75,000 (Fixed) Provide a minimum of 3 site visits a week to verify material quantities and obtain truck tickets from rock pit to support as necessary unit price contract. Meet with contractor to verify progress, schedule and quantities, as needed. This task presumes the following schedule provided by contractor for schedule tracking and reporting: Area 1 completed by: June 8, 2018 Area 2 completed by: June 29, 2018 Area 3 completed by July 24, 2018 Area 4 completed by August 20, 2018 Area 5 completed by August 31, 2018 V. Materials Testing (by Forge Engineering) - $27,000 (Fixed) FORGE is providing several different services, considering the project information stated above. Our proposed scope of services includes: Making a site visit once the proposed riprap material is stockpiled on site, prior to being placed in the lake shoreline areas, to evaluate the quality of the material meets the project requirements and to verify that the specified geotextile underlayment is being utilized for the project, Once construction has commenced and when requested, FORGE will make several site visits to evaluate and document that the on-going restoration is being completed in general with the project specifications as it relates to materials (rock, fabric). To evaluate the restoration meets the project requirements, FORGE will complete the following services below: Prior to our testing, document each testing locations GPS coordinates and existing test location conditions, Document the installation of the riprap shoreline, including underlayment installation, slope verification, placed riprap material thickness, and riprap material gradation, Obtain select samples of riprap material and return them to our laboratory to perform specific gravity tests, Upon completion of each site visit, preparing a letter including bullet points of our observations, and the results of our testing. Note: Management and oversite will be provided by J.R. Evans Engineering, as part of this task. J.R. EVANS ENGINEERING 9351 CORKSCREW ROAD, STE. 102 / ESTERO, FL / (p) / (f) Page 9

12 Hurricane IRMA Shoreline Damage April 26, 2018 Change Order #1 Page 2 Once the restoration project has been completed, we will prepare a written report summarizing our findings, testing results, and include our opinion if the project has been completed in general accordance with the project specifications. AUTHORIZATION: The work referenced above will be initiated when copy of this work order is signed by both parties. I hereby authorize the performance of the above services and agree to pay the charges resulting there from as identified in the "FEE-TYPE" above. Work authorized under this agreement is subject to the terms and conditions of the original contract. 4/26/2018 Joshua R. Evans, P.E. Date Barry Demovsky, Chairman Date JR Evans Engineering, P.A. The Quarry CDD Page 10

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15 RESOLUTION NO A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE QUARRY COMMUNITY DEVELOPMENT DISTRICT (THE DISTRICT ) AUTHORIZING THE ISSUANCE OF NOT TO EXCEED $3,485,000 IN AGGREGATE PRINCIPAL AMOUNT OF THE QUARRY COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT REFUNDING AND IMPROVEMENT BONDS, SERIES 2018 (THE BONDS ), TO CURRENTLY REFUND THE DISTRICT S OUTSTANDING SPECIAL ASSESSMENT BONDS, SERIES 2018 AND TO PAY ALL OR A PORTION OF THE DESIGN AND CONSTRUCTION COSTS OF CERTAIN PUBLIC INFRASTRUCTURE IMPROVEMENTS RELATING TO THE EROSION OF LAKE BANKS WITHIN THE DISTRICT CAUSED BY HURRICANE IRMA AND INCIDENTAL COSTS RELATING THERETO (THE 2018 PROJECT ), PURSUANT TO CHAPTER 190, FLORIDA STATUTES, AS AMENDED; APPOINTING U.S. BANK NATIONAL ASSOCIATION TO SERVE AS TRUSTEE; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A SECOND SUPPLEMENTAL TRUST INDENTURE RELATING TO THE BONDS IN SUBSTANTIALLY THE FORM ATTACHED HERETO; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND PLACEMENT AGREEMENT; AUTHORIZING THE PRIVATE PLACEMENT OF THE BONDS TO FLORIDA COMMUNITY BANK, N.A. PURSUANT TO THE CONDITIONS SET FORTH HEREIN AND IN THE BOND PLACEMENT AGREEMENT; PROVIDING THAT SUCH BONDS SHALL NOT CONSTITUTE A DEBT, LIABILITY OR OBLIGATION OF THE DISTRICT (EXCEPT AS OTHERWISE PROVIDED HEREIN), COLLIER COUNTY, FLORIDA, OR OF THE STATE OF FLORIDA OR OF ANY OTHER POLITICAL SUBDIVISION THEREOF, BUT SHALL BE PAYABLE SOLELY FROM THE 2018 PLEDGED REVENUES WHICH INCLUDE THE 2018 SPECIAL ASSESSMENTS TO BE ASSESSED AND LEVIED ON THE PROPERTY WITHIN THE DISTRICT BENEFITED BY THE 2018 PROJECT; DESIGNATING THE BONDS AS QUALIFIED TAX-EXEMPT OBLIGATIONS WITHIN THE MEANING OF SECTION 265(b)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED; PROVIDING FOR OTHER RELATED MATTERS AND PROVIDING AN EFFECTIVE DATE. WHEREAS, The Quarry Community Development District (the District ), is a local unit of special-purpose government organized and existing in accordance with the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the Act ), created by Ordinance No of the Board of County Commissioners of Collier County, Florida effective on January 30, 2004; Page 13

16 WHEREAS, the District desires to authorize the issuance of not to exceed $3,485,000 in aggregate principal amount of its The Quarry Community Development District Special Assessment Refunding and Improvement Bonds, Series 2018 (the Bonds ), in order to pay all or a portion of the design and construction costs of the 2018 Project and to refund the District s Special Assessment Bonds, Series 2018 (the Original Bonds ); WHEREAS, based on the proposal of Florida Community Bank, N.A. (the Bank ) dated April 16, 2018, the Bonds will be purchased by the Bank; WHEREAS, based on the estimated cost of the 2018 Project that was determined after the issuance of the Original Bonds, the authorized amount of principal of the Original Bonds will not be sufficient to finance the 2018 Project and thus it is necessary to pay off the Original Bonds and issue the Bonds in a not to exceed amount of $3,485,000; and WHEREAS, the District desires to provide the terms and conditions under which the District will refund the outstanding Original Bonds and cause to be constructed the public infrastructure improvements comprising all or a portion of the 2018 Project on certain District lands; WHEREAS, authority is conferred upon the District by the Constitution and laws of the State of Florida, specifically including, but not limited to, Sections (9), (14), , (1), (2), (5), (8), (11), (13), and of the Act, to issue the Bonds; WHEREAS, the District does not intend to issue more than $10,000,000 of tax-exempt debt in calendar year 2018 and therefore, the Board hereby designates the Bonds as qualified tax-exempt obligations within the meaning of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended (the Code ); and WHEREAS, the District desires to authorize and approve various instruments to be executed and delivered in connection with the Bonds. NOW, THEREFORE, BE IT RESOLVED by The Quarry Community Development District, as follows: Section 1: Findings; Authorization of the Bonds. The District hereby finds that because of the complex nature of assessment bond financings and the volatile conditions prevailing in the market for special assessment bonds is necessary and in the best interest of the District that the Bonds, in the aggregate principal amount of not exceeding $3,485,000, be privately placed with the Bank. The District hereby further finds that it will not be adversely affected if the Bonds are not sold pursuant to competitive sale. The District hereby authorizes the issuance of not to exceed $3,485,000 in aggregate principal amount of the Bonds to (i) finance all or a portion of the costs of the 2018 Project; (ii) currently refund the Original Bonds, (iii) fund a debt service reserve account for the Bonds; and (iv) pay the costs of issuing the Bonds. The Bonds shall be issued as draw-down obligations until the end of the draw period. Section 2: Certain Details of the Bonds. The Bonds and the interest thereon, shall not be deemed to constitute a debt, liability or obligation of the District (except as provided 2 Page 14

17 herein), Collier County, Florida (the County ) or of the State of Florida (the State ), or of any other political subdivision thereof, but shall be payable from and secured solely by the 2018 Special Assessments (as defined in the form of 2018 Indenture hereinafter referred to) levied by the District on property within the District benefited by the 2018 Project and subject to assessment, as set forth in the 2018 Indenture, and neither the faith and credit nor any taxing power of the District, the County or the State, or of any other political subdivision thereof, is pledged to the payment of the principal of or interest on the Bonds, except for 2018 Special Assessments to be assessed and levied by the District to secure and pay the Bonds. Section 3: Designation of Attesting Members. Each Assistant Secretary of the Board of Supervisors (the Board ) of the District (each individually a Designated Member ) and the Secretary, or any other appointed Assistant Secretary, are hereby designated and authorized on behalf of the Board to attest to the seal of the Board and to the signature of the Chairperson or Vice Chairperson of the Board as they appear on the Bonds, the 2018 Indenture, and any other documents which may be necessary or helpful in connection with the issuance and delivery of the Bonds and in connection with the application of the proceeds thereof. Section 4: Authorization of Execution and Delivery of a Second Supplemental Trust Indenture Relating to the Bonds; Authorization to Use Master Trust Indenture. The District does hereby authorize and approve the execution by the Chairperson or Vice Chairperson and any Designated Member and the delivery of a Second Supplemental Trust Indenture (the Second Supplemental ) and to use that certain Master Trust Indenture dated as of March 1, 2018 (collectively, the 2018 Indenture ) for the Bonds, each between the District and the Trustee named in Section 6 of this Resolution. The 2018 Indenture shall provide for the security of the Bonds, as applicable, and express the contract between the District and the owners of such Bonds. The Second Supplemental shall be in substantially the form thereof attached hereto and marked Exhibit A and hereby approved, with such changes therein as are necessary or desirable to reflect the terms of the sale of the Bonds as shall be approved by the Chairperson (or in his or her absence, the Vice Chairperson) executing the same, with such execution to constitute conclusive evidence of such officer s approval and the District s approval of any changes therein from the form of Second Supplemental attached hereto. Section 5: Bond Placement Agreement. The District does hereby authorize and approve the execution and delivery of a Bond Placement Agreement for the Bonds by the Chairperson, Vice Chairperson of the Board or any Designated Member substantially in the form presented to this meeting and attached hereto as Exhibit B. The Bond Placement Agreement is being executed by the District and the Bank. Section 6: Appointment of Trustee. The District hereby appoints U.S. Bank National Association to act as trustee under the 2018 Indenture (the Trustee ). The Trustee shall also serve as the Paying Agent, Registrar and Authenticating Agent under the 2018 Indenture. Section 7: Further Official Action; Ratification of Prior and Subsequent Acts. The Chairperson, the Vice Chairperson, the Secretary and each Designated Member and any other proper official of the District are each hereby authorized and directed to execute and deliver any and all documents and instruments (including, without limitation, any documents 3 Page 15

18 required by the Trustee to evidence its rights and obligations with respect to the Bonds and any agreements in connection with maintaining the exclusion of interest on the Bonds from gross income of the holders thereof) and to do and cause to be done any and all acts and things necessary or desirable for carrying out the transactions contemplated by this Resolution. In the event that the Chairperson or the Secretary is unable to execute and deliver the documents herein contemplated, such documents shall be executed and delivered by the respective designee of such officer or official or any other duly authorized officer or official of the District. The Secretary or any Designated Member is hereby authorized and directed to apply and attest the official seal of the District to any agreement or instrument authorized or approved herein that requires such a seal and attestation. All of the acts and doings of such members of the Board, the officers of the District, and the agents and employees of the District, which are in conformity with the intent and purposes of this resolution, whether heretofore or hereafter taken or done, shall be and are hereby ratified, confirmed and approved. Section 8: Bank Qualified Bonds. The Bonds are hereby designated as qualified tax-exempt obligations within the meaning of Section 265(b)(3) of the Code. Section 9: Severability. If any section, paragraph, clause or provision of this resolution shall be held to be invalid or ineffective for any reason, the remainder of this resolution shall continue in full force and effect, it being expressly hereby found and declared that the remainder of this resolution would have been adopted despite the invalidity or ineffectiveness of such section, paragraph, clause or provision. Section 10: Effective Date. This resolution shall take effect immediately upon its adoption, and any provisions of any previous resolutions in conflict with the provisions hereof are hereby superseded. PASSED in Public Session of the Board of Supervisors of The Quarry Community Development District, this 3 rd day of May, THE QUARRY COMMUNITY DEVELOPMENT DISTRICT By: Name: Kathleen Dailey Title: Secretary, Board of Supervisors By: Name: Barry Demovsky Title: Chairperson, Board of Supervisors 4 Page 16

19 EXHIBIT A FORM OF SECOND SUPPLEMENTAL TRUST INDENTURE A-1 Page 17

20 EXHIBIT B FORM OF BOND PLACEMENT AGREEMENT WPB/ v4/ B-1 Page 18