CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT SPECIAL MEETING AGENDA June 5, 2018
Creekside at Twin Creeks Community Development District OFFICE OF THE DISTRICT MANAGER 2300 Glades Road, Suite 410W Boca Raton, Florida 334313 Phone: (561) 571-0010 Toll-free: (877) 276-0889 Fax: (561) 571-0013 May 29, 2018 Board of Supervisors Creekside at Twin Creeks Community Development District Dear Board Members: ATTENDEES: Please identify yourself each time you speak to facilitate accurate transcription of meeting minutes. A Special Meeting of the Board of Supervisors of the Creekside at Twin Creeks Community Development District will be held on Tuesday, June 5, 2018 at 11:30 a.m., at the construction trailer located at 106 CR 210W, St. Johns, Florida 32259. The agenda is as follows: 1. Call to Order/Roll Call 2. Public Comments 3. Administration of Oath of Office to Newly Elected Supervisors [Seats 3, 4 & 5] (the following to be provided in a separate package) A. Guide to Sunshine Amendment and Code of Ethics for Public Officers and Employees B. Membership, Obligations and Responsibilities C. Financial Disclosure Forms i. Form 1: Statement of Financial Interests ii. iii. Form 1X: Amendment to Form 1, Statement of Financial Interests Form 1F: Final Statement of Financial Interests D. Form 8B Memorandum of Voting Conflict 4. Consideration of Resolution 2018-01, Canvassing and Certifying the Results of the Landowners Election of Supervisors for the Creekside at Twin Creeks Community Development District Held Pursuant to Section 190.006(2), Florida Statutes 5. Consideration of Resolution 2018-02, Electing the Officers of the Creekside at Twin Creeks Community Development District, St. Johns County, Florida 6. Consideration of Resolution 2018-03, Approving a Proposed Budget 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
Board of Supervisors Creekside at Twin Creeks Community Development District June 5, 2018, Special Meeting Agenda Page 2 7. Consideration of Agreement Between the CDD and the Creekside at Twin Creeks Homeowners Association, Inc., for Infrastructure Management and Maintenance Services 8. Approval of Unaudited Financial Statements as of April 30, 2018 9. Approval of Minutes A. August 17, 2017 Public Hearing and Regular Meeting B. November 7, 2017 Landowners Meeting 10. Staff Reports A. District Counsel: Cobb Cole B. District Engineer: Prosser, Inc. C. District Manager: Wrathell, Hunt and Associates, LLC i. 94 Registered Voters in District as of April 15, 2018 11. Board Members Comments/Requests 12. Public Comments 13. Adjournment I look forward to seeing all of you at the upcoming meeting. In the meantime, if you should have any questions or concerns, please do not hesitate to contact me directly at (561) 719-8675. Sincerely, Craig Wrathell District Manager FOR BOARD MEMBERS AND STAFF TO ATTEND BY TELEPHONE: Call-in number: 1-888-354-0094 Conference ID: 2144145
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT 4
RESOLUTION 2018-01 A RESOLUTION CANVASSING AND CERTIFYING THE RESULTS OF THE LANDOWNERS ELECTION OF SUPERVISORS FOR THE CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT HELD PURSUANT TO SECTION 190.006(2), FLORIDA STATUTES WHEREAS, pursuant to Section 190.006(2), Florida Statutes, a landowners meeting is required to be held within 90 days of the District's creation and every two (2) years following the creation of a Community Development District for the purpose of electing Supervisors of the District; and WHEREAS, following proper publication of notice thereof, such landowners meeting was held on November 7, 2017 at which the below recited persons were duly elected by virtue of the votes cast in their respective favor; and WHEREAS, the Board of Supervisors by means of this Resolution desires to canvass the votes, declare, and certify the results of said election; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT; 1. The following persons are found, certified, and declared to have been duly elected as Supervisors of and for the District, having been elected by the votes cast in their favor as shown, to wit: Robert Furlong (Seat 3) Votes 297 Jared Bouskila (Seat 4) Votes 297 Cora DiFiore (Seat 5) Votes 295 2. In accordance with said statute, and by virtue of the number of votes cast for the respective Supervisors, they are declared to have been elected for the following terms of office: Robert Furlong four (4)-year term SEAT 3 Jared Bouskila four (4)-year term SEAT 4 Cora DiFiore two (2)-year term SEAT 5 3. Said terms of office shall commence immediately upon the adoption of this Resolution.
PASSED AND ADOPTED this day of, 2018 Chair/Vice Chair Secretary/Assistant Secretary
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT 5
RESOLUTION 2018-02 A RESOLUTION ELECTING THE OFFICERS OF THE CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT, ST. JOHNS COUNTY, FLORIDA WHEREAS, the Board of Supervisors of the Creekside at Twin Creeks Community Development District desires to elect the below recited persons to the offices specified. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT: 1. The following persons are elected to the offices shown: Chair Vice Chair Secretary Treasurer Assistant Treasurer Assistant Secretary Assistant Secretary Assistant Secretary Assistant Secretary Assistant Secretary Craig Wrathell Craig Wrathell Jeff Pinder Howard McGaffney Cindy Cerbone PASSED AND ADOPTED this day of, 2018 Secretary/Assistant Secretary Chair/Vice Chair
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT 6
RESOLUTION 2018-03 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET 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. WHEREAS, the District Manager has heretofore prepared and submitted to the Board of Supervisors ( Board ) of the Creekside at Twin Creeks Community Development District ( District ) prior to June 15, 2018, a proposed budget ( Proposed Budget ) for the fiscal year beginning October 1, 2018 and ending September 30, 2019 ( Fiscal Year 2018/2019 ); and WHEREAS, the Board has considered the Proposed Budget and desires to set the required public hearing thereon. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT: 1. PROPOSED BUDGET APPROVED. The Proposed Budget prepared by the District Manager for Fiscal Year 2018/2019 attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said Proposed Budget. 2. SETTING A PUBLIC HEARING. A public hearing on said approved Proposed Budget is hereby declared and set for the following date, hour and location: DATE:, 2018 HOUR: LOCATION: Construction Trailer 106 CR 210W St. Johns, Florida 32259 3. TRANSMITTAL OF PROPOSED BUDGET TO LOCAL GENERAL PURPOSE GOVERNMENT. The District Manager is hereby directed to submit a copy of the Proposed Budget to St. John s County at least 60 days prior to the hearing set above. 4. POSTING OF PROPOSED BUDGET. In accordance with Section 189.016, Florida Statutes, the District s Secretary is further directed to post the approved Proposed Budget on the District s website at least two days before the budget hearing date as set forth in Section 2, and shall remain on the website for at least 45 days. 1
5. PUBLICATION OF NOTICE. Notice of this public hearing shall be published in the manner prescribed in Florida law. 6. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof. 7. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption. PASSED AND ADOPTED THIS DAY OF, 2018. ATTEST: CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT Secretary/Assistant Secretary By: Its: 2
Exhibit A 3
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT PROPOSED BUDGET FISCAL YEAR 2019 PREPARED APRIL 19, 2018
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT TABLE OF CONTENTS Description Page Number(s) General Fund Budget 1 Definitions of General Fund Expenditures 2 Debt Service Fund Budget - Series 2016A-1, A-2 and A-3 3 Amortization Schedule - Series 2016A-1 4-5 Amortization Schedule - Series 2016A-2 6 Amortization Schedule - Series 2016A-3 7-8 Assessment Summary 9
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND BUDGET FISCAL YEAR 2019 Fiscal Year 2018 Adopted Budget FY 2018 Actual through 3/31/2018 Projected through 9/30/2018 Total Revenue and Expenditures Proposed Budget FY 2019 REVENUES Assessment levy: on-roll - gross $ 65,980 $ 56,847 Allowable discounts (4%) (2,639) (2,274) Assessment levy: on-roll - net 63,341 $ 33,815 $ 29,526 $ 63,341 54,573 Assessment levy: off-roll 42,705-42,705 42,705 36,796 Total revenues 106,046 33,815 72,231 106,046 91,369 EXPENDITURES Professional & administrative Supervisors 7,536-4,306 4,306 4,306 Management/accounting/recording 48,000 24,000 24,000 48,000 48,000 Legal 12,000 1,489 5,000 6,489 7,500 Engineering 6,000 218 1,000 1,218 2,000 Audit 3,250-3,350 3,350 3,500 Arbitrage rebate calculation 750-750 750 750 Dissemination agent 1,000 500 500 1,000 1,000 Trustee - - 8,500 8,500 10,500 Telephone 200 100 100 200 200 Postage 500 68 432 500 500 Printing & binding 500 250 250 500 500 Legal advertising 1,200 305 895 1,200 1,200 Annual special district fee 175 175-175 175 Insurance 8,500 8,160-8,160 8,976 Contingencies/bank charges 500 80 420 500 500 Website maintenance 615 616-616 625 Tax collector 1,320 676-676 1,137 Total professional & administrative 92,046 36,637 49,503 86,140 91,369 Field operations Landscape maintenance Tree/plant replacement 5,000-5,000 5,000 - Irrigation repairs 4,000-4,000 4,000 - Road maintenance* 5,000-5,000 5,000 - Total field operations 14,000-14,000 14,000 - Total expenditures 106,046 36,637 63,503 100,140 91,369 Net increase/(decrease) of fund balance - (2,822) 8,728 5,906 - Fund balance - beginning (unaudited) 55,887 50,641 47,819 50,641 56,547 Fund balance - ending (projected) $ 55,887 $ 47,819 $ 56,547 $ 56,547 $ 56,547 *These items will be realized when the CDD takes ownership of the related assets. 1
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT DEFINITIONS OF GENERAL FUND EXPENDITURES EXPENDITURES Professional & administrative Supervisors $ 4,306 Statutorily set at $200 for each meeting of the Board of Supervisors not to exceed $4,800 for each fiscal year. Management/accounting/recording 48,000 Wrathell, Hunt and Associates, LLC (WHA), specializes in managing community development districts by combining the knowledge, skills and experience of a team of professionals to ensure compliance with all of the District's governmental requirements. WHA develops financing programs, administers the issuance of tax exempt bond financings, operates and maintains the assets of the community. Legal 7,500 General counsel and legal representation, which includes issues relating to public finance, public bidding, rulemaking, open meetings, public records, real property dedications, conveyances and contracts. Engineering 2,000 The District's Engineer will provide construction and consulting services, to assist the District in crafting sustainable solutions to address the long term interests of the community while recognizing the needs of government, the environment and maintenance of the District's facilities. Audit 3,500 Statutorily required for the District to undertake an independent examination of its books, records and accounting procedures. Arbitrage rebate calculation 750 To ensure the District's compliance with all tax regulations, annual computations are necessary to calculate the arbitrage rebate liability. Dissemination agent 1,000 The District must annually disseminate financial information in order to comply with the requirements of Rule 15c2-12 under the Securities Exchange Act of 1934. Wrathell, Hunt & Associates serves as dissemination agent. Trustee 10,500 Annual fee for the service provided by trustee, paying agent and registrar. Telephone 200 Telephone and fax machine. Postage 500 Mailing of agenda packages, overnight deliveries, correspondence, etc. Printing & binding 500 Letterhead, envelopes, copies, agenda packages, etc. Legal advertising 1,200 The District advertises for monthly meetings, special meetings, public hearings, public bids, etc. Annual special district fee 175 Annual fee paid to the Florida Department of Economic Opportunity. Insurance 8,976 The District will obtain public officials and general liability insurance. Contingencies/bank charges 500 Bank charges and other miscellaneous expenses incurred during the year. Website maintenance 625 Tax collector 1,137 Total expenditures $ 91,369 2
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND BUDGET - SERIES 2016A-1, A-2 and A-3 FISCAL YEAR 2019 Fiscal Year 2018 Adopted Budget FY 2018 Actual through 3/31/2018 Projected through 9/30/2018 Total Revenue and Expenditures Proposed Budget FY 2019 REVENUES Special assessment - on-roll - 2016A1 $ 437,083 $ 437,083 Allowable discounts (4%) (17,483) (17,483) Assessment levy: net - 2016A1 419,600 $ 221,780 $ 143,253 $ 365,033 419,600 Special assessment: off-roll 511,719 14,951 516,859 531,810 - Special assessment: off-roll - 2016A2 - - - - 150,188 Special assessment: off-roll - 2016A3 - - - - 276,175 Assessment prepayments - 2016A2-528,000 112,000 640,000 - Interest - 2016A1-1,553-1,553 - Interest - 2016A2-4,098-4,098 - Interest - 2016A3-1,726-1,726 - Total revenues 931,319 772,108 772,112 1,538,396 845,963 EXPENDITURES Debt service Principal 95,000.00 95,000.00-95,000.00 - Principal - 2016A1 - - - - 100,000 Principal prepayment - 2016A2-915,000.00 640,000 1,555,000 - Principal - 2016A3 - - - - 55,000 Interest 769,199 385,478 357,986 743,464 - Interest - 2016A1 - - - - 308,873 Interest - 2016A2 - - - - 150,188 Interest - 2016A3 - - - - 217,619 Total debt service 864,199 1,395,478 997,986 2,393,464 831,680 Other fees & charges Tax collector 8,742-8,742 8,742 8,742 Total other fees & charges 23,742-8,742 8,742 8,742 Total expenditures 887,941 1,395,478 1,006,728 2,402,206 840,422 Excess/(deficiency) of revenues over/(under) expenditures 43,378 (623,370) (234,616) (863,810) 5,541 Fund balance: Net increase/(decrease) in fund balance 43,378 (623,370) (234,616) (863,810) 5,541 Beginning fund balance (unaudited) 1,159,025 2,068,049 1,444,679 2,068,049 1,204,239 Ending fund balance (projected) $ 1,202,403 $ 1,444,679 $ 1,210,063 $ 1,204,239 $ 1,209,780 Use of fund balance: Debt service reserve account balance (required) (646,344) Principal and Interest expense - November 1, 2019 (496,693) Projected fund balance surplus/(deficit) as of September 30, 2019 $ 66,743 3
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT SERIES 2016A-1 AMORTIZATION SCHEDULE Principal Coupon Rate Interest Debt Service Bond Balance 11/01/16 159,737.39 159,737.39 6,020,000.00 05/01/17 157,118.75 157,118.75 6,020,000.00 11/01/17 95,000.00 3.700% 157,118.75 252,118.75 5,925,000.00 05/01/18 155,361.25 155,361.25 5,925,000.00 11/01/18 100,000.00 3.700% 155,361.25 255,361.25 5,825,000.00 05/01/19 153,511.25 153,511.25 5,825,000.00 11/01/19 100,000.00 3.700% 153,511.25 253,511.25 5,725,000.00 05/01/20 151,661.25 151,661.25 5,725,000.00 11/01/20 105,000.00 3.700% 151,661.25 256,661.25 5,620,000.00 05/01/21 149,718.75 149,718.75 5,620,000.00 11/01/21 110,000.00 4.625% 149,718.75 259,718.75 5,510,000.00 05/01/22 147,175.00 147,175.00 5,510,000.00 11/01/22 115,000.00 4.625% 147,175.00 262,175.00 5,395,000.00 05/01/23 144,515.63 144,515.63 5,395,000.00 11/01/23 120,000.00 4.625% 144,515.63 264,515.63 5,275,000.00 05/01/24 141,740.63 141,740.63 5,275,000.00 11/01/24 125,000.00 4.625% 141,740.63 266,740.63 5,150,000.00 05/01/25 138,850.00 138,850.00 5,150,000.00 11/01/25 130,000.00 4.625% 138,850.00 268,850.00 5,020,000.00 05/01/26 135,843.75 135,843.75 5,020,000.00 11/01/26 135,000.00 4.625% 135,843.75 270,843.75 4,885,000.00 05/01/27 132,721.88 132,721.88 4,885,000.00 11/01/27 145,000.00 4.625% 132,721.88 277,721.88 4,740,000.00 05/01/28 129,368.75 129,368.75 4,740,000.00 11/01/28 150,000.00 5.250% 129,368.75 279,368.75 4,590,000.00 05/01/29 125,431.25 125,431.25 4,590,000.00 11/01/29 160,000.00 5.250% 125,431.25 285,431.25 4,430,000.00 05/01/30 121,231.25 121,231.25 4,430,000.00 11/01/30 165,000.00 5.250% 121,231.25 286,231.25 4,265,000.00 05/01/31 116,900.00 116,900.00 4,265,000.00 11/01/31 175,000.00 5.250% 116,900.00 291,900.00 4,090,000.00 05/01/32 112,306.25 112,306.25 4,090,000.00 11/01/32 185,000.00 5.250% 112,306.25 297,306.25 3,905,000.00 05/01/33 107,450.00 107,450.00 3,905,000.00 11/01/33 195,000.00 5.250% 107,450.00 302,450.00 3,710,000.00 05/01/34 102,331.25 102,331.25 3,710,000.00 11/01/34 205,000.00 5.250% 102,331.25 307,331.25 3,505,000.00 05/01/35 96,950.00 96,950.00 3,505,000.00 11/01/35 215,000.00 5.250% 96,950.00 311,950.00 3,290,000.00 05/01/36 91,306.25 91,306.25 3,290,000.00 11/01/36 225,000.00 5.250% 91,306.25 316,306.25 3,065,000.00 05/01/37 85,400.00 85,400.00 3,065,000.00 11/01/37 240,000.00 5.250% 85,400.00 325,400.00 2,825,000.00 05/01/38 79,100.00 79,100.00 2,825,000.00 11/01/38 250,000.00 5.600% 79,100.00 329,100.00 2,575,000.00 05/01/39 72,100.00 72,100.00 2,575,000.00 11/01/39 265,000.00 5.600% 72,100.00 337,100.00 2,310,000.00 05/01/40 64,680.00 64,680.00 2,310,000.00 11/01/40 280,000.00 5.600% 64,680.00 344,680.00 2,030,000.00 4
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT SERIES 2016A-1 AMORTIZATION SCHEDULE Principal Coupon Rate Interest Debt Service Bond Balance 05/01/41 56,840.00 56,840.00 2,030,000.00 11/01/41 295,000.00 5.600% 56,840.00 351,840.00 1,735,000.00 05/01/42 48,580.00 48,580.00 1,735,000.00 11/01/42 310,000.00 5.600% 48,580.00 358,580.00 1,425,000.00 05/01/43 39,900.00 39,900.00 1,425,000.00 11/01/43 330,000.00 5.600% 39,900.00 369,900.00 1,095,000.00 05/01/44 30,660.00 30,660.00 1,095,000.00 11/01/44 345,000.00 5.600% 30,660.00 375,660.00 750,000.00 05/01/45 21,000.00 21,000.00 750,000.00 11/01/45 365,000.00 5.600% 21,000.00 386,000.00 385,000.00 05/01/46 10,780.00 10,780.00 385,000.00 11/01/46 385,000.00 5.600% 10,780.00 395,780.00 - Total 6,020,000.00 6,400,803.67 12,420,803.67 5
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT SERIES 2016A-2 AMORTIZATION SCHEDULE Principal Coupon Rate Interest Debt Service Bond Balance 11/01/16 160,125.00 160,125.00 5,600,000.00 05/01/17 1,375,000.00 5.625% 157,500.00 1,532,500.00 4,225,000.00 11/01/17 915,000.00 5.625% 118,828.13 1,033,828.13 3,310,000.00 05/01/18 640,000.00 5.625% 93,093.75 733,093.75 2,670,000.00 11/01/18 75,093.75 75,093.75 2,670,000.00 05/01/19 75,093.75 75,093.75 2,670,000.00 11/01/19 75,093.75 75,093.75 2,670,000.00 05/01/20 75,093.75 75,093.75 2,670,000.00 11/01/20 75,093.75 75,093.75 2,670,000.00 05/01/21 75,093.75 75,093.75 2,670,000.00 11/01/21 75,093.75 75,093.75 2,670,000.00 05/01/22 75,093.75 75,093.75 2,670,000.00 11/01/22 75,093.75 75,093.75 2,670,000.00 05/01/23 75,093.75 75,093.75 2,670,000.00 11/01/23 75,093.75 75,093.75 2,670,000.00 05/01/24 75,093.75 75,093.75 2,670,000.00 11/01/24 75,093.75 75,093.75 2,670,000.00 05/01/25 75,093.75 75,093.75 2,670,000.00 11/01/25 75,093.75 75,093.75 2,670,000.00 05/01/26 75,093.75 75,093.75 2,670,000.00 11/01/26 75,093.75 75,093.75 2,670,000.00 05/01/27 75,093.75 75,093.75 2,670,000.00 11/01/27 75,093.75 75,093.75 2,670,000.00 05/01/28 75,093.75 75,093.75 2,670,000.00 11/01/28 75,093.75 75,093.75 2,670,000.00 05/01/29 75,093.75 75,093.75 2,670,000.00 11/01/29 75,093.75 75,093.75 2,670,000.00 05/01/30 75,093.75 75,093.75 2,670,000.00 11/01/30 75,093.75 75,093.75 2,670,000.00 05/01/31 75,093.75 75,093.75 2,670,000.00 11/01/31 75,093.75 75,093.75 2,670,000.00 05/01/32 75,093.75 75,093.75 2,670,000.00 11/01/32 75,093.75 75,093.75 2,670,000.00 05/01/33 75,093.75 75,093.75 2,670,000.00 11/01/33 75,093.75 75,093.75 2,670,000.00 05/01/34 75,093.75 75,093.75 2,670,000.00 11/01/34 75,093.75 75,093.75 2,670,000.00 05/01/35 75,093.75 75,093.75 2,670,000.00 11/01/35 2,670,000.00 5.625% 75,093.75 2,745,093.75 - Total 5,600,000.00 3,157,828.13 8,757,828.13 6
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT SERIES 2016A-3 AMORTIZATION SCHEDULE Principal Coupon Rate Interest Debt Service Bond Balance 11/01/16 111,356.77 111,356.77 3,895,000.00 05/01/17 109,531.25 109,531.25 3,895,000.00 11/01/17 109,531.25 109,531.25 3,895,000.00 05/01/18 109,531.25 109,531.25 3,895,000.00 11/01/18 55,000.00 5.250% 109,531.25 164,531.25 3,840,000.00 05/01/19 108,087.50 108,087.50 3,840,000.00 11/01/19 60,000.00 5.250% 108,087.50 168,087.50 3,780,000.00 05/01/20 106,512.50 106,512.50 3,780,000.00 11/01/20 60,000.00 5.250% 106,512.50 166,512.50 3,720,000.00 05/01/21 104,937.50 104,937.50 3,720,000.00 11/01/21 65,000.00 5.250% 104,937.50 169,937.50 3,655,000.00 05/01/22 103,231.25 103,231.25 3,655,000.00 11/01/22 65,000.00 5.250% 103,231.25 168,231.25 3,590,000.00 05/01/23 101,525.00 101,525.00 3,590,000.00 11/01/23 70,000.00 5.250% 101,525.00 171,525.00 3,520,000.00 05/01/24 99,687.50 99,687.50 3,520,000.00 11/01/24 75,000.00 5.250% 99,687.50 174,687.50 3,445,000.00 05/01/25 97,718.75 97,718.75 3,445,000.00 11/01/25 80,000.00 5.250% 97,718.75 177,718.75 3,365,000.00 05/01/26 95,618.75 95,618.75 3,365,000.00 11/01/26 80,000.00 5.250% 95,618.75 175,618.75 3,285,000.00 05/01/27 93,518.75 93,518.75 3,285,000.00 11/01/27 85,000.00 5.250% 93,518.75 178,518.75 3,200,000.00 05/01/28 91,287.50 91,287.50 3,200,000.00 11/01/28 90,000.00 5.250% 91,287.50 181,287.50 3,110,000.00 05/01/29 88,925.00 88,925.00 3,110,000.00 11/01/29 95,000.00 5.250% 88,925.00 183,925.00 3,015,000.00 05/01/30 86,431.25 86,431.25 3,015,000.00 11/01/30 100,000.00 5.250% 86,431.25 186,431.25 2,915,000.00 05/01/31 83,806.25 83,806.25 2,915,000.00 11/01/31 105,000.00 5.750% 83,806.25 188,806.25 2,810,000.00 05/01/32 80,787.50 80,787.50 2,810,000.00 11/01/32 110,000.00 5.750% 80,787.50 190,787.50 2,700,000.00 05/01/33 77,625.00 77,625.00 2,700,000.00 11/01/33 120,000.00 5.750% 77,625.00 197,625.00 2,580,000.00 05/01/34 74,175.00 74,175.00 2,580,000.00 11/01/34 125,000.00 5.750% 74,175.00 199,175.00 2,455,000.00 05/01/35 70,581.25 70,581.25 2,455,000.00 11/01/35 130,000.00 5.750% 70,581.25 200,581.25 2,325,000.00 05/01/36 66,843.75 66,843.75 2,325,000.00 11/01/36 140,000.00 5.750% 66,843.75 206,843.75 2,185,000.00 05/01/37 62,818.75 62,818.75 2,185,000.00 11/01/37 150,000.00 5.750% 62,818.75 212,818.75 2,035,000.00 05/01/38 58,506.25 58,506.25 2,035,000.00 11/01/38 155,000.00 5.750% 58,506.25 213,506.25 1,880,000.00 05/01/39 54,050.00 54,050.00 1,880,000.00 11/01/39 165,000.00 5.750% 54,050.00 219,050.00 1,715,000.00 05/01/40 49,306.25 49,306.25 1,715,000.00 11/01/40 175,000.00 5.750% 49,306.25 224,306.25 1,540,000.00 7
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT SERIES 2016A-3 AMORTIZATION SCHEDULE Principal Coupon Rate Interest Debt Service Bond Balance 05/01/41 44,275.00 44,275.00 1,540,000.00 11/01/41 185,000.00 5.600% 44,275.00 229,275.00 1,355,000.00 05/01/42 38,956.25 38,956.25 1,355,000.00 11/01/42 195,000.00 5.600% 38,956.25 233,956.25 1,160,000.00 05/01/43 33,350.00 33,350.00 1,160,000.00 11/01/43 205,000.00 5.600% 33,350.00 238,350.00 955,000.00 05/01/44 27,456.25 27,456.25 955,000.00 11/01/44 220,000.00 5.600% 27,456.25 247,456.25 735,000.00 05/01/45 21,131.25 21,131.25 735,000.00 11/01/45 230,000.00 5.600% 21,131.25 251,131.25 505,000.00 05/01/46 14,518.75 14,518.75 505,000.00 11/01/46 245,000.00 5.600% 14,518.75 259,518.75 260,000.00 05/01/47 7,475.00 7,475.00 260,000.00 11/01/47 260,000.00 5.600% 7,475.00 267,475.00 - Total 3,895,000.00 4,635,769.27 8,530,769.27 8
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON PROJECTED FISCAL YEAR 2019 ASSESSMENTS On-Roll Assessments FY 2018 Total Assessment per Unit Product/Parcel Units FY 2019 O&M Assessment per Unit FY 2019 DS Assessment per Unit FY 2019 Total Assessment per Unit Assessment Area One SF 43' 122 $ 162.42 $ 1,145.83 $ 1,308.25 $ 1,334.34 SF 53' 110 162.42 1,250.00 1,412.42 1,438.51 SF 63' 118 162.42 1,354.17 1,516.59 1,542.68 Total 350 Off-Roll Assessments FY 2018 Total Assessment per Unit Product/Parcel Units FY 2019 O&M Assessment per Unit FY 2019 DS Assessment per Unit FY 2019 Total Assessment per Unit Assessment Area Two SF 43' 128 $ 152.68 $ 1,055.94 $ 1,208.62 $ 1,225.06 SF 53' - - - - - SF 63' 113 152.68 1,247.92 1,400.60 1,415.58 Total 241 Note 1: Note 2: Note 3: Assessments for Series 2016A-1 Bonds are collected on-roll for units within Assessment Area One. The Series 2016A-2 Bonds are intended to be prepaid at closing for each lot. Assessments for Series 2016A-2 Bonds will only pay interest on the A-2 Bonds (principal is due at maturity). Assessments for Series 2016A-3 Bonds are collected off-roll for units within Assessment Area Two. 9
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT 7
AGREEMENT BETWEEN THE CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT AND THE CREEKSIDE AT TWIN CREEKS HOMEOWNERS ASSOCIATION, INC. FOR INFRASTRUCTURE MANAGEMENT AND MAINTENANCE SERVICES THIS AGREEMENT is made and entered into this day of, 2018, by and between: Creekside at Twin Creeks Community Development District, a local unit of specialpurpose government established pursuant to Chapter 190, Florida Statutes, located in Volusia County, Florida (the District ) and Creekside at Twin Creeks Homeowners Association Inc., a Florida not for profit corporation (the "Association"). RECITALS WHEREAS, the District is a local unit of special-purpose government established to finance, fund, plan, establish, acquire, construct or reconstruct, enlarge and extend, equip, operate and maintain systems, facilities and infrastructure in conjunction with the development of lands within the District; and WHEREAS, the District has constructed and/or acquired various lands, systems, facilities and infrastructure and other facilities requiring inspection, operation and maintenance services; and WHEREAS, the District desires to provide efficient inspection, operation and maintenance services for certain improvements and areas owned by the District and located within the Daytona Beach community ("District Property"), as more specifically identified in the attached Exhibit "A"; and WHEREAS, the Association is a Florida not for profit corporation, owning, operating and maintaining various improvements and facilities in close proximity to District Property; and WHEREAS, the Association currently employs maintenance personnel and other employees who serve in close proximity to District Property; and WHEREAS, for ease of administration, cost savings, and to obtain the benefits of full time on-site inspection, operation and maintenance personnel, the District desires to contract with the Association to manage and maintain the District Property identified in Exhibit "A"; and WHEREAS, the Association represents that it is qualified, through its officers, employees, contractors and affiliates, to manage and maintain the District Property and desires to contract with the District to do so in accordance with the terms of this Agreement between the {044485-001 : MWATT/LFIGE : 02249142.DOCX; 2}
District and the Association for Infrastructure Management Maintenance Services (the Agreement ). NOW, THEREFORE, in consideration of the recitals, agreements and mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the District and Association (collectively, the "Parties"), the Parties agree as follows: SECTION 1. RECITALS. The recitals so stated are true and correct and by this reference are incorporated into and form a material part of this Agreement. SECTION 2. CREEKSIDE AT TWIN CREEKS HOMEOWNERS ASSOCIATION'S OBLIGATION. A. General duties. The Association shall be responsible for the management and maintenance of District Property in an efficient, lawful and satisfactory manner and in accordance with the District's bond covenants relating to such maintenance. The Association will act in a fiduciary capacity with respect to the protection and accounting of the District's assets. B. Inspection. The Association shall conduct regular inspections of all District Property and report any irregularities to the District Manager, or his designated representative, and shall correct any irregularities in accordance with the terms of this Agreement. C. Repair and Maintenance. The Association shall make, or cause to be made, such routine repair work or normal maintenance to District Property as may be required for the operation or physical protection of District Property. The Association shall promptly cause emergency repairs to be made when such repairs are necessary for the preservation and safety of persons and/or property, or when the repairs are required to be made to avoid the suspension of any services. OPDOA shall immediately notify the District Manager, or a designated representative, concerning the need for emergency repairs. D. Investigation and Report of Accidents/Claims. The Association shall promptly investigate and provide a full written report to the District Manager as to all accidents or claims for damage relating to the management of the District and maintenance and operation of District Property. Such report shall at a minimum include a description of any damage or destruction of property and the estimated cost of repair. The Association shall cooperate and make any and all reports required by any insurance company or the District in connection with any accident or claim. The Association shall not file any claims with the District's insurance company without the prior consent of the District Manager or his designee. {044485-001 : MWATT/LFIGE : 02249142.DOCX; 2}
E. Compliance with Government Rules, Regulations, Requirements and Orders. The Association shall take such action as is necessary to comply promptly with any and all orders or requirements affecting District Property placed thereon by any governmental authority having jurisdiction over any District Property. The Association shall immediately notify the District Manager and District Counsel in writing of all such orders or requirements. At the request of the District, the Association shall prepare for execution and filing by the District any forms, reports or returns which may be required by law in connection with the ownership, maintenance and operation of the District Property. F. Adherence to District Rules, Regulations and Policies. The District shall provide, at the time of the execution of this Agreement, a list of District rules, regulations, and policies, if any, related to the District Property. The Association's personnel shall be familiar with any and all District policies and procedures, if any, and shall ensure that all persons using District Property are informed with respect to the rules, regulations and notices as may be promulgated by the District from time to time and ensure that said persons conform therewith. The Association may adopt such policies and procedures as it deems necessary to the fulfillment of its obligations under this Agreement provided that copies of such policies and procedures shall be provided to the District at all times. GVCOA assures the District that all third parties will be dealt with at arm's length, and that the District's interest will be best served at all times. G. Care of Property. The Association shall use all due care to protect the District Property, its residents and landowners from damage by the Association, its employees or contractors. The Association agrees to repair any damage resulting from the Association's activities and work. H. Standard of Care. The Association shall be solely responsible for establishing maintenance specifications for the District Property, so long as such standards comply with orders or requirements placed thereon by any governmental authority having jurisdiction over the District Property. I. Staffing. The Association shall be solely responsible for the hiring, staffing, contractor retention, and vendor selection processes necessary to perform the management and maintenance responsibilities set forth in this Agreement. The Association shall also be solely responsible for the supervision of such employees, vendors, and contractors retained to perform these responsibilities. SECTION 3. NO COMPENSATION DUE. The District shall pay not be required to pay the Association for the provision of management and maintenance services provided pursuant to the terms of this Agreement. The Association shall privately assess properties within the District for the cost of the management and maintenance services provided and the private assessments shall take the place of public maintenance assessments that could otherwise be levied by the District. {044485-001 : MWATT/LFIGE : 02249142.DOCX; 2}
SECTION 4. TERM. The term of this Agreement is for a period of ( ) years commencing on, 2018. Both the District and the Association shall have the right to terminate this Agreement effective immediately at any time due to the Association's failure to perform in accordance with the terms of this Agreement, or upon thirty (30) days written notice without a showing of cause. SECTION 5. INSURANCE. The Association shall maintain, at its own expense throughout the term of this Agreement, the following insurance with the District, its staff, consultants and supervisors shall be named as an additional insured: A. Worker's Compensation Insurance in accordance with the laws of the State of Florida. B. Commercial General Liability Insurance covering the Association's legal liability for bodily injuries, with limits of not less than $1,000,000 combined single limit bodily injury and property damage liability, and covering at least the following hazards: C. Employer's Liability Coverage with limits of at least $1,000,000 (one million dollars) per accident or disease. D. Automobile Liability Insurance for bodily injuries in limits of not less than $1,000,000 combined single limit bodily injury and for property damage, providing coverage for any accident arising out of or resulting from the operation, maintenance, or use by the Association of any owned, non-owned, or hired automobiles, trailers, or other equipment required to be licensed. SECTION 6. INDEMNIFICATION. The Association agrees to indemnify and hold harmless the District and its officers, agents and employees from any and all liability, claims, actions, suits or demands by any person, corporation or other entity for injuries, death, property damage or of any nature, arising out of, or in connection with, the work to be performed by the Association, including litigation or any appellate proceedings with respect thereto. SECTION 7. LIMITATIONS ON GOVERNMENTAL LIABILITY. Nothing in this Agreement shall be deemed as a waiver of immunity or limits of liability of the District beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in Section 768.28, Florida Statutes or other statute, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law. SECTION 8. ASSIGNMENT. Neither the District nor the Association may assign this Agreement without the prior written approval of the other. SECTION 9. INDEPENDENT CONTRACTOR STATUS. In all matters relating to this Agreement, the Association shall be acting as an independent contractor. Neither the {044485-001 : MWATT/LFIGE : 02249142.DOCX; 2}
Association nor employees of the Association, if there are any, are employees of the District under the meaning or application of any Federal or State Unemployment or Insurance Laws or Old Age Laws or otherwise. The Association agrees to assume all liabilities or obligations imposed by anyone or more of such laws with respect to employees of the Association, if there are any, in the performance of this Agreement. The Association shall not have any authority to assume or create any obligation, express or implied, on behalf of the District and the Association shall have no authority to represent the District as an agent, employee, or in any other capacity, unless otherwise set forth in this Agreement. Nothing herein shall preclude the Association and the District from entering into separate agreements for the leasing of personnel or sharing of other resources. SECTION 10. HEADINGS FOR CONVENIENCE ONLY. The descriptive headings in this Agreement are for convenience only and shall neither control nor affect the meaning or construction of any of the provisions of this Agreement. SECTION 11. AGREEMENT. This instrument shall constitute the final and complete expression of this Agreement between the District and the Association relating to the subject matter of this Agreement. SECTION 12. AMENDMENTS. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by both the District and the Association. SECTION 13. AUTHORIZATION. The execution of this Agreement has been duly authorized by the appropriate body or official of the District and the Association, both the District and the Association have complied with all the requirements of law, and both the District and the Association have full power and authority to comply with the terms and provisions of this instrument. SECTION 14. NOTICES. All notices, requests, consents and other communications under this Agreement ("Notices") shall be in writing and shall be delivered, mailed by First Class Mail, postage prepaid, or overnight delivery service, to the parties, as follows: A. If to the District: Creekside at Twin Creeks Community Development District 2300 Glades Road, Suite 410W Boca Raton, FL 33431 Attn: District Manager With a copy to: Cobb Cole 231 N. Woodland Blvd. DeLand, FL 32720 Attn: Mark A. Watts, Esq. B. If to the Association: {044485-001 : MWATT/LFIGE : 02249142.DOCX; 2}
Creekside at Twin Creeks Homeowners Association, Inc. 10401 Deerwood Park Blvd. Suite 2130 Jacksonville, FL 32256 Attn: With a copy to: Cobb Cole 231 N. Woodland Blvd. DeLand, FL 32720 Attn: Mark A. Watts, Esq. Except as otherwise provided in this Agreement, any Notice shall be deemed received only upon actual delivery at the address set forth above. Notices delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a nonbusiness day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for the District and counsel for the Association may deliver Notices on behalf of the District and the Association. Any party or other person to whom Notices are to be sent or copied may notify the other parties and addressees of any change in name or address to which Notices shall be sent by providing the same on five (5) days written notice to the parties and addressees set forth herein. SECTION 15. THIRD PARTY BENEFICIARIES. This Agreement is solely for the benefit of the District and the Association and no right or cause of action shall accrue upon or by reason, to or for the benefit of any third party not a formal party to this Agreement. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the District and the Association any right, remedy, or claim under or by reason of this Agreement or any of the provisions or conditions of this Agreement; and all of the provisions, representations, covenants, and conditions contained in this Agreement shall inure to the sole benefit of and shall be binding upon the District and the Association and their respective representatives, successors, and assigns. SECTION 16. CONTROLLING LAW. This Agreement and the provisions contained in this Agreement shall be construed, interpreted, and controlled according to the laws of the State of Florida. SECTION 17. PUBLIC RECORDS. The Association understands and agrees that all documents of any kind provided to the District in connection with this Agreement may be public records and shall be treated as such in accordance with Florida law. SECTION 18. SEVERABILITY. The invalidity or unenforceability of anyone or more provisions of this Agreement shall not affect the validity or enforceability of the remaining portions of this Agreement, or any part of this Agreement not held to be invalid or unenforceable. {044485-001 : MWATT/LFIGE : 02249142.DOCX; 2}
SECTION 19. ARM'S LENGTH TRANSACTION. This Agreement has been negotiated fully between the District and the Association as an arm's length transaction. The District and the Association participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are each deemed to have drafted, chosen, and selected the language, and any doubtful language will not be interpreted or construed against any party. IN WITNESS WHEREOF, the parties execute this agreement the day and year first written above. Attest: Print Name CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT By: Print Name: Title: day of, 2018 Print Name STATE OF FLORIDA } COUNTY OF } The foregoing instrument was acknowledged before me this day of, 2018, by, as Chair/Vice-Chair of the Board of Supervisors for CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT, who is personally known and/or produced as identification and who being duly sworn, deposes and says that the aforementioned is true and correct to his or her best knowledge. [SEAL] Notary Public Commission: {044485-001 : MWATT/LFIGE : 02249142.DOCX; 2}
Attest: CREEKSIDE AT TWIN CREEKS HOMEOWNERS ASSOCIATION, INC. Print Name By: Print Name: Title: day of, 2018 Print Name STATE OF FLORIDA } COUNTY OF } The foregoing instrument was acknowledged before me this day of, 2018, by, as of CREEKSIDE AT TWIN CREEKS HOMEOWNERS ASSOCIATION, INC. He or she is personally known to me or has produced as identification and who being duly sworn, deposes and says that the aforementioned is true and correct to the best of his or her knowledge. [SEAL] Notary Public Commission: {044485-001 : MWATT/LFIGE : 02249142.DOCX; 2}
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT 8
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT FINANCIAL STATEMENTS UNAUDITED APRIL 30, 2018
General Fund Debt Service Fund Capital Projects Fund Total Governmental Funds ASSETS Cash $ 283,622 $ - $ - $ 283,622 Investments Reserve 2016 A-1-208,001-208,001 Reserve 2016 A-2-159,470-159,470 Reserve 2016 A-3-279,630-279,630 Revenue 2016 A-1-182,987-182,987 Revenue 2016 A-2-131,226-131,226 Revenue 2016 A-3-109,531-109,531 Capitalized interest 2016 A-2-761 - 761 Capitalized interest 2016 A-3-1,365-1,365 Interest 2016 A-3-130 - 130 Prepayment 2016 A-2-789,060-789,060 Construction 2015 BAN - - 29 29 Construction 2016 A-1 - - 2 2 Construction 2016 A-2 - - 31 31 Construction 2016 A-3 - - 1,404,370 1,404,370 Cost of issuance 2016 A-1-3,291-3,291 Cost of issuance 2016 A-2-2,709-2,709 Cost of issuance 2016 A-3-345 - 345 Due from Twin Creeks Ventures - 6,525-6,525 Due from general fund - 210,220-210,220 Interest receivable - 1,875 1,721 3,596 Total assets $ 283,622 $ 2,087,126 $ 1,406,153 $ 3,776,901 LIABILITIES AND FUND BALANCES Liabilities: Due to Twin Creeks Ventures $ 3,350 $ - $ - $ 3,350 Due to Lennar Homes 467 2,156-2,623 Due to debt service fund 2016 A-1 210,220 - - 210,220 Retainage payable 2015 BAN - - 514,098 514,098 Retainage payable 2016 A-3 - - 14,135 14,135 Developer advance 2,500 - - 2,500 Total liabilities 216,537 2,156 528,233 746,926 DEFERRED INFLOWS OF RESOURCES Deferred receipts - 6,525-6,525 Total deferred inflows of resources - 6,525-6,525 Fund balances: Restricted for: Debt service - 2,078,445-2,078,445 Capital projects - - 877,920 877,920 Unassigned 67,085 - - 67,085 Total fund balances 67,085 2,078,445 877,920 3,023,450 Total liabilities, deferred inflows of resources and fund balances CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT BALANCE SHEET GOVERNMENTAL FUNDS APRIL 30, 2018 $ 283,622 $ 2,087,126 $ 1,406,153 $ 3,776,901 1
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GENERAL FUND FOR THE PERIOD ENDED APRIL 30, 2018 Current Month Year to Date % of Budget Budget REVENUES Assessment levy: on-roll - net $ 23,898 $ 57,713 $ 63,341 91% Assessment levy: off-roll - - 42,705 0% Total revenues 23,898 57,713 106,046 54% EXPENDITURES Professional & administrative Supervisors - - 7,536 0% Management/accounting/recording 4,000 28,000 48,000 58% Legal - 1,489 12,000 12% Engineering - 218 6,000 4% Audit - - 3,250 0% Arbitrage rebate calculation - - 750 0% Dissemination agent 83 583 1,000 58% Telephone 17 116 200 58% Postage - 68 500 14% Printing & binding 42 292 500 58% Legal advertising - 306 1,200 26% Annual special district fee - 175 175 100% Insurance - 8,160 8,500 96% Contingencies/bank charges 11 92 500 18% Website - 616 615 100% Total professional & administrative 4,153 40,115 90,726 44% Field operations Landscape maintenance Tree/plant replacement - - 5,000 0% Irrigation repairs - - 4,000 0% Road maintenance - - 5,000 0% Total field operations - - 14,000 0% Other fees & charges Tax collector 478 1,154 1,320 87% Total other fees & charges 478 1,154 1,320 87% Total expenditures 4,631 41,269 106,046 39% Excess/(deficiency) of revenues over/(under) expenditures 19,267 16,444 - Fund balances - beginning 47,818 50,641 55,887 Fund balances - ending $ 67,085 $ 67,085 $ 55,887 2
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES DEBT SERVICE FUND SERIES 2015 BANS & 2016 BONDS FOR THE PERIOD ENDED APRIL 30, 2018 Current Month Year to Date % of Budget Budget REVENUES Assessment levy: on-roll - net $ 156,734 $ 378,515 $ 419,600 90% Assessment levy: off-roll 226,539 241,490 511,719 47% Assessment prepayments 256,000 784,000 - N/A Interest 2016 A-1 526 2,079 - N/A Interest 2016 A-2 1,158 5,256 - N/A Interest 2016 A-3 381 2,107 - N/A Total revenues 641,338 1,413,447 931,319 152% EXPENDITURES Principal - 95,000 95,000 100% Principal prepayment - Series 2016A-2-915,000 - N/A Interest expense - 385,478 769,199 50% Total expenditures - 1,395,478 864,199 161% Other fees and charges Trustee fees - - 15,000 0% Tax collector 3,136 7,573 8,742 87% Total other fees and charges 3,136 7,573 23,742 32% Total expenditures 3,136 1,403,051 887,941 158% Excess/(deficiency) of revenues over/(under) expenditures 638,202 10,396 43,378 24% Fund balance - beginning 1,440,243 2,068,049 1,159,025 Fund balance - ending $ 2,078,445 $ 2,078,445 $ 1,202,403 3
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES CAPITAL PROJECTS FUND SERIES 2015 BANS & 2016 BONDS FOR THE PERIOD ENDED APRIL 30, 2018 Current Month Year To Date REVENUES Interest 2016 A-3 $ 1,899 $ 9,884 Total revenues 1,899 9,884 EXPENDITURES - - Total expenditures - - Excess/(deficiency) of revenues over/(under) expenditures 1,899 9,884 Fund balances - beginning 876,021 868,036 Fund balances - ending $ 877,920 $ 877,920 4
CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT 9A
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 MINUTES OF MEETING CREEKSIDE AT TWIN CREEKS COMMUNITY DEVELOPMENT DISTRICT A Public Hearing and Regular Meeting of the Board of Supervisors of the Creekside at Twin Creeks Community Development District was held on Thursday, August 17, 2017 at 11:30 a.m., at the offices of Rogers Towers, P.A., 100 Whetstone Place, Suite 200, St. Augustine, Florida 32086. Present at the meeting were: John Kinsey Chair Robert Furlong Vice Chair Bryan Kinsey Assistant Secretary Jared Bouskila (via telephone) Assistant Secretary Cora DiFiore (via telephone) Assistant Secretary Also present were: Craig Wrathell District Manager Cindy Cerbone Wrathell, Hunt and Associates, LLC Mark Watts District Counsel Neil Brockmeier District Engineer FIRST ORDER OF BUSINESS Call to Order/Roll Call Mr. Wrathell called the meeting to order at 12:42 p.m. Supervisors John Kinsey, Bryan Kinsey and Robert Furlong were present, in person. Supervisors Jared Bouskila and Cora DiFiore were attending via telephone. SECOND ORDER OF BUSINESS Public Comments There being no members of the public present, the next item followed. THIRD ORDER OF BUSINESS Public Hearing to Hear Comments and Objections on the Adoption of the District s Final Budget for Fiscal Year 2017/2018, Pursuant to Florida Law A. Affidavit/Proof of Publication 1
CREEKSIDE AT TWIN CREEKS CDD August 17, 2017 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 Mr. Wrathell presented the proof of publication for today s Public Hearing and Regular Meeting. B. Consideration of Resolution 2017-6, Relating to the Annual Appropriations and Adopting the Budget for the Fiscal Year Beginning October 1, 2017, and Ending September 30, 2018; Authorizing Budget Amendments; and Providing and Effective Date Mr. Wrathell presented Resolution 2017-6. On-roll assessments will be included on the tax roll and off-roll assessments will be billed directly. Page 9 reflected Projected Fiscal Year 2018 Assessments Assessment Area One was completely on-roll and Assessment Area Two was off-roll. The Series 2016A-1 Bonds covered Area One; the Series 2016A-3 Bonds were applicable to the Area Two off-roll assessments. The Series 2016A-2 Bonds would be paid off for each lot at closing; therefore, the Services 2016A-2 Bonds are not being reflected as part of the Area One assessments. ***Mr. Wrathell opened the Public Hearing.*** There being no members of the public present, the next item followed. ***Mr. Wrathell closed the Public Hearing.*** On MOTION by Mr. John Kinsey and seconded by Mr. Bryan Kinsey, with all in favor, Resolution 2017-6, Relating to the Annual Appropriations and Adopting the Budget for the Fiscal Year Beginning October 1, 2017, and Ending September 30, 2018; Authorizing Budget Amendments; and Providing and Effective Date, was adopted. FOURTH ORDER OF BUSINESS Consideration of Resolution 2017-7, Making a Determination of Benefit and Imposing Special Assessments for Fiscal Year 2016/2017; Providing for the Collection and Enforcement of Special Assessments, Including but not Limited to Penalties and Interest Thereon; Certifying an Assessment Roll; Providing for Amendments to the Assessment Roll; Providing a Severability Clause; and Providing for an Effective Date 2