ROLLING OAKS

MINUTES OF MEETING COMMUNITY DEVELOPMENT

DISTRICT

The  regular  meeting

of

the  Board

of

Supervisors

of

the

Rolling

Oaks	Community

Development District was held Thursday, April 11, 2019 at 12:00 p.m.

Community Center, 7715 Heritage Crossing Way, Reunion, Florida.

at

the Heritage Crossing

Present and constituting

John Chiste

Jared Bouskila

Cora DiFiore

Peter Brown

Samir Yajnik

Also present were:

George Flint

a quorum were:

Chairman

Vice Chairman by telephone

Assistant Secretary by telephone

Assistant Secretary

Assistant Secretary

District Manager

FIRST

ORDER

OF

BUSINESS

Roll Call

Mr. Flint called the meeting to order and called the roll.	
SECOND ORDER OF BUSINESS	Public Comment Period	
There being none, the next item followed.	

TIDRD ORDER OF BUSINESS

Approval of the 2019 Meeting

Minutes

of

the February 21,

On					
MOTION by Mr. Chiste seconded by Mr. Brown with all in favor		
the minutes of the					
February 21, 2019 meeting were approved, as		
presented.					
FOURTH ORDER OF BUSINESS	Consideration	of	Resolution2019-03		

	Approving  the  Proposed  Budget for  Fiscal		
	Year 2020 and Setting a Public Hearing		

Mr. Flint stated next is Resolution 2019-03 setting hearing for the Fiscal Year 2020 budget. Exhibit A to the

the date, place and time of the public resolution is the proposed budget and

April

11,

2019

Rolling

Oaks

CDD

this proposed budget does not reflect the additional lots that are platted.

Once

the County provides

us with the assessment roll,

we

will update

the

number

of

units that are

going

to be subject to the

$532 per year assessment and make the necessary adjustments.

The

main

thing

is

if

you are going

to keep the $532 per unit amount, which I understand is the

goal

you

have

flexibility to adjust the

revenue and expense line items between now and the public hearing.

I

talked

with Peter and our

hope is at the next areas that the CDD those conveyances

Board Meeting the developer will be	conveying the underlying land		
			
is obligated for landscape maintenance and pond maintenance and we		
as well as approve contracts with the contractors	and you will start		

for the will do seeing

expenses against those line items.

The

way we have

it set up now is the

platted

lots are paying the

$532 per unit against that.

on As

the tax bill and there is a developer shortfall agreement long as the $532 per unit is correct then we will just

and the budget be balancing it

is balanced against the

developer

contribution

if

the expense is incurred there may be a funding

request and

if

it is not

incurred then

the

developer

won't

be obligated.

On MOTION by Mr.  Chiste seconded by Ms.	DiFiore with all in	
favor Resolution 2019-03 approving the proposed	
	budget and setting	
the public hearing for July 11, 2019, at 12:00 p.m. at the Heritage	
Crossing Community Center, 7715 Heritage Crossing Way, Reunion,	
Florida, was approved.		

FIFTH ORDER

OF

BUSINESS

Consideration	of Proposals from	
Provide    Arbitrage    Rebate	
Services (2)		

AMTEC to Calculation

Mr. Flint stated next is proposals for arbitrage rebate calculations.

Under

the IRS code we

are

required to

do

an arbitrage rebate calculation to make sure the District is not earning more

interest than it

is

paying and

we have historically

contracted

with

AMTEC.

You have two bond

issues, the series 2016 and 2018 bond issues that this would apply to.

It

is

more

than what you are

traditionally			
seeing because we are doing multiple years.  This year it is for two years and is $900		
for the series 2016 bonds and $450 for the 2018 bonds.		
On MOTION by Mr. Chiste seconded by Mr.		
	Brown with all in favor		
the proposals from AMTEC to provide arbitrage rebate calculation		
services for five years for the Series 2016 bond issue and the Series		
2018 bond			
issue for a total of $2,250	each were approved.		

2

April 11, 2019

Rolling

Oaks

CDD

SIXTH ORDER OF BUSINESS	Staff Reports	
A.	Attorney		

Mr. Flint stated I talked to Vivek and		
asked if there were any	issues that came up,		
			
conveyances and  we will be working with		
landscape and pond maintenance.		

his meeting	one ran a		
	before this			
		little long and he		
to get with	him.  He is	working		
		with Peter on the		
him also  in drafting the  contracts assigning your		

B.	Engineer

There being none, the next item followed.

C.	Manager

i.

Approval

of

Check

Register

A

On

the

ii.

copy of

MOTION by Mr. Chiste seconded by Mr. Yajnik with all in favor check register was approved.

Balance Sheet and Income Statement

the balance sheet and income statement were included in the agenda package.

iii.

Designation

of

November 14, 2019 as Landowners' Meeting Date

Mr. Flint stated there	be a Landowners'				
		will					
				meeting this year.	We are asking the Board		
								
to designate November 14,	2019	as the Landowners'	meeting date, that would be your regular		

meeting date in								
November if you continue to meet the same day of the month you are doing in this		
fiscal year.  In the	event the Board doesn't				
				meet we will need			
					representatives of the Landowner to		
conduct the Landowner meeting.						
On MOTION by Mr. Brown seconded by Mr.			
					Chiste with all in favor		
November  14, 2019  was  designated as the Landowners'  meeting		
date.								
SEVENTH ORDER OF BUSINESS	Supervisor's Requests			

Mr. Bouskila stated on the financial statements for March 31, page		
fund I see we have a $445,000 interest payment due by	1.	Is that one		
May				

3 on the debt service where the developer

3

April 11, 2019	Rolling Oaks CDD		

needs to provide the money to the CDD by	or is that when the	payment is made to the		
			May 1				
bondholders?							
Mr. Flint	st	is when the interest			
	responded May 1				
				payment is made to the bondholders.  We		
have already direct				st		
	billed and it looks					
			like we have adequate funds to make that May 1  payment		
and in November you have a principal and interest payment.			

EIGHTH

ORDER

OF

BUSINESS

Next Meeting Date

Mr. Flint stated the next meeting would be May 9,2019 it sounds like we are going to do some conveyances and things.

in the

event

we

need to meet and

On MOTION by Mr. Chiste seconded by Mr.

the meeting adjourned at 12:10 p.m.

Brown with

all

in

favor

Secretary/Assistant Secretary

4