Rolling Oaks

Community Development District

Agenda

August

16,

2018

A

GE

NDA

Rolling

Oaks

Community Development District

135

W.

Central Blvd., Suite 320, Orlando, Florida 32801 Phone: 407-841-5524- Fax: 407-839-1526

August

9,

2018

Board

of

Supervisors

Rolling Oaks Community

Development District

Dear

Board Members:

The	meeting	
will	be held	
Center, 7715	
the meeting:	

of the Board of Supervisors of				
Rolling Oaks Community Development District		
Thursday, Augu st 16, 2018 at 12:00 PM	at the Heritage	Crossing Community		
Heritage Crossing Way, Reunion, Florida.			
			
	Following is the advance agenda for		

1.

2.

3.

4.

5.

Audit Committee Meeting
Roll Call

Public Comment Period

Approval of Minutes of June 14, 2018 Meeting

Tally of Audit Committee Members Rankings and Selection
Adjournment

of

an

Auditor

1.

2.

3.

4.

5.

6.

	Board of		
Roll Call	Supervisors Meeting		
			
Public Comment Period			
Approval of Minutes of the June 14, 2018 Meeting		
Approval of Disclosure of			
	Public Financing Report		
Acceptance of	Audit Report		
	Fiscal Year 2017			
Public Hearing			
A	Consideration of Resolution 2018-05 Adopting the		
	Relating to the Annual	Appropriations		

Fiscal

Year 2019

Budget

and

7.

8.

B.	Consideration	of  Resolution  2018-06	Imposing	Special  Assessments	and	
	Certifying an Assessment Roll					
Consideration of Fiscal Year 2018/2019	Budget Funding Agreement		
Staff Reports						
A	Attorney						

9.

B.	i.	Signage Easement	Agreement		
	Engineer			
C.	District Manager's Report			
				
	1.	Balance Sheet and	Income Statement		
	ii.	Ratification of Funding Request #9		
	m.			
		Consideration of Funding Request #10		
	iv.	Approval of Fiscal Year 2019 Meeting Schedule		
Supervisor's Requests			

10.

11.

Next Meeting Adjournment

Date

The second								
order of business of the Audit Committee Meeting is the Public Comment Period where the		
public has an	opportunity to be heard	on propositions coming before the  Board as reflected on the		
agenda, and any other						
		items.  The third order of business is the approval of the		
2018 meeting.  The				minutes from the June 14,		
		minutes are enclosed for your					
audit committee members rankings and	review.  The fourth order of business is the tally of the		
	selection of	an	auditor.	Rankings  from all audit committee		
members  will be	tallied  at  the  meeting  to  develop	an	overall	audit committee ranking.   The  RFP		
responses have been provided separately	and the tally sheet has been enclosed in your agenda package.		

The second order of business of the public has an opportunity to agenda, and any other items.

the be

Board heard

of on

Supervisors meeting is the			
Public Comment Period		
propositions coming	Board as reflected		
before the			

where on the

The	order of business is		
third			
enclosed for your review.		

approval of the minutes

of the June

14,

2018

meeting.

The minutes

are

The fourth report will

order of business is the approval be provided under separate cover.

of

the

Disclosure

of

Public

Financing

Report

A

copy

of

the

The fifth order of business being provided separately.

is

the

acceptance of the Fiscal Year

2017

Audit

Report.

A

copy

of

the

report

is

The sixth order of				
business opens the public hearing. Section A is the		
adopting the Fiscal Year 2019	budget and relating to the annual	consideration of Resolution 2018-05		
		appropriations.  A copy of the Resolution		
and proposed budget are enclosed for your review.  Section B is the		
imposing special		consideration of Resolution 2018-06		
assessments and certifying an assessment roll.  A copy of the Resolution is enclosed for		
your review and the				
assessment roll will be			
	available at the meeting for reference.		

The  seventh	order  of  business  is	the	consideration  of  the  Fiscal  Year  2018/2019  Budget		
					
Agreement. A copy of the agreement is			
			
		enclosed for your review.		

Funding

Section A of the eighth		the					
		order of business is						
agreement. A copy of the		Attorney's Report.  Section 1 includes a signage easement		
	agreement will be provided	under separate cover.	Section C is the District		
Manager's							
								
	Report. Section 1 includes the balance sheet and income			
				
the ratification of funding	request #9 and			statement for your review. Section 2 is		
		Section 3 is the consideration of funding request #10. The		
funding requests are					
	enclosed for your review. Section 4 is	approval of the	Fiscal Year 2019 meeting		
						
schedule. A sample notice is enclosed for your review.					

The balance of the please contact me.

agenda

will be discussed

at

the meeting.

In

the

meantime,

if

you

have any questions,

Sincerely,

George District

CC:

S. Flint
Manager

Mark Straley, District Counsel

Dave Schmitt, District Engineer
Steve Sanford, Bond Counsel
Jon Kessler, Underwriter
Robert Smith, Trustee

Enclosures

AUDIT COMMITTEE MEETING

M INUTES

MINUTES OF MEETING

ROLLING OAKS

COMMUN1TY DEVELOPMENT DISTRICT

The Rolling Oaks 14, 2018 at 12: 15 p.m. at Reunion, Florida.

Present were:

John Chiste Jared Bouskila Peter Brown George Flint

Community Development District Audit Committee met Thursday, June the Heritage Crossing Community Center, 7715 Heritage Crossing Way,

Chairman

FIRST ORDER OF BUSINESS

Roll Call

Mr. Flint called the Audit Committee meeting to order and called the roll.

SECOND ORDER OF BUSINESS

Public Comment Period

There being none, the next item followed.

THIRD ORDER OF BUSINESS

Audit Services  .

A.

Approval

of

Request for Proposals and Selection Criteria

Mr. Flint stated we have the auditing services and approval

is included in your agenda.	It is the same as you have seen in the

for five years of pricing.

of the request for proposals that past except we are now asking

On MOTION

favor the RFP

by and

Mr. Chiste seconded by Mr. Bouskila with all in selection criteria to include price was approved.

B.

Approval

of

the Notice

of

Request for Proposals for Audit Services

Mr.

Flint stated you have the form

of

the

notice that

will be placed

in

the Orlando Sentinel.

June

14,2018

Rolling Oaks CDD

On MOTION

favor the form

by of

Mr. Bouskila seconded by Mr. Chiste the notice was approved.

with

all in

C.

Public

Announcement

of

Opportunity

to

Provide Audit Services

	Mr.  Flint stated we will announce the opportunity for  any qualified auditing firms to		
provide proposals for the Rolling Oaks Community	Development District per the form of notice		
					
that will be advertised in the Orlando Sentinel.  Our goal is to have the responses back before your		
August meeting and there will be an Audit Committee meeting immediately preceding the board		
meeting in August where you will rank those responses and on the August board agenda you will		
have an item to accept the committee's recommendation.  We are proposing to receive them by		
July 20	th	, which will give us time to get them to you before the August meeting.		
				
	Mr. Chiste stated I notice under Chapter 190, Florida		
			Statutes, the Supervisors can receive		
up to $4,800 a year $200 per meeting.  The Audit			
		Committee will also receive $200 for each of its		
meetings?			

Mr. Flint District Counsel.

stated I don't know that the

Committee itself is

entitled

to

that.	I can check with

Mr.

Chiste

stated check with district counsel.

On MOTION by Mr. Chiste seconded by Mr. Bouskila with all in favor the Audit Committee adjourned at 12:19 p.m.

Attest	Chairman

2

SECTION

IV

Berger,

Toombs, Elam, Frank

Gaines

Ability of 120

&

Personnel otsl

Proposer's Exoerience 120 otsl

Rc:>lllng Oaks CDD Auclltor Selection		
Understanding of Scope	Ability to Furnish the		
of Work 120 ots)			
	Reaulred Services 120 ots)		

Price 120 otsl	
2018 - $2,975	
2019 - $3,050	
2020	- $3,150	
2021	- $3,450	
2022	- $3,675	
2018	- $5,000	
2019 - $5,000	
2020 - $5,150	

Total Points

Earned

11

Ranking being hlahes

t\

Carr, Riggs & Ingram
(No Electronic Copy Provided)

Grau & Associates

McDirmlt Davis

2021 - $5,250

2022 - $5,350

2018 - $3,500

2019 - $3,600

2020 - $3,700

2021 - $3,800

2022 - $3,900

2018 - $4,500

2019 - $4,600

2020 - $4,700

2021 - $4,800

2022 - $4,900

BOARD OF SUPERVISORS

MEETING

MIN

UTES

MINUTES OF MEETING

ROLLING OAKS

COMMUNITY DEVELOPMENT DISTRICT

The  regular	meeting  of the  Board  of  Supervisors  of the  Rolling		
			
Development District was held	at the		
	Thursday, June 14, 2018 at 12:00 p.m.			
Community Center, 7715 Heritage Crossing Way, Reunion, Florida.			

Oaks Community Heritage Crossing

Present and constituting a quorum were:

John Chiste

Jared Bouskila

Peter Brown

Cora DiFiore

Samir Yajnik

Also present were:

George Flint

Vivek Babbar

Dave Schmitt

Chairman		
Vice Chairman		
Assistant Secretary		
Assistant Secretary by phone	
Assistant Secretary	by phone	

District Manager

District Counsel by phone

District Engineer by phone

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

Meeting

of

the Minutes

of

the May 10, 2017

Mr. Babbar stated on page waterways.

On MOTION by Mr. favor the minutes of amended.

2  under my	report it  should say right	of		

Chiste seconded by Mr. Bouskila with all the May 10, 2018 meeting were approved

ways instead

in

as

of

June

14, 2018

Rolling Oaks COD

FOURTH ORDER OF BUSINESS

Consideration	of	Resolution	2018-04

Approving the Proposed Fiscal Year 2019 Budget and Setting a Public Hearing

Mr. Flint stated next is Resolution 2018-04	approving a proposed budget and setting the		
								
date, place and time of the public hearing for its final	consideration.  Each year the Board is		
										
required to approve a				15	th	and you are considering the resolution today		
								
proposed budget by June					
to be able to meet that requirement.	I handed out Exhibit A to the resolution.  The proposed budget		
is not binding on the Board but the one thing to keep in mind is if assessments are being imposed		
or increased there is some additional noticing that has to be done. For purposes of giving the Board		
flexibility going into your August	16	th	hearing, we prepared a		
					
									proposed budget that contemplates		
the 262 platted lots would be assessed $500 per unit and that would be reflected on the November		
1, tax bill for the platted lots.  We are setting that as a ceiling		
									basically for you between now and		
the August public hearing.   Once we are better able to refine our operating and maintenance		
expenses that could be adjusted downward if								
			necessary, but it couldn't be increased.  The balance		
of the budget that is not funded through the per unit	assessment on those lots is contemplated to		
									
be funded through a							any shortfall.  We have structured the budget		
developer funding agreement for			
that way and we just											
estimated some ballpark maintenance	numbers.  We need to spend a little		
											
more time refining those and as long as those are basically being funded through the developer		
funding agreement any shortfall could be adjusted to where they need to be.  Peter and I met on		
Tuesday and he is following-up on some additional information and once we get that we can refine		
it and hopefully, at your August meeting have some more solid numbers.		
Mr. Babbar stated once the Board approves this	resolution we would like a motion from		
										
the Board essentially adopting the methodology we adopted for the master indebtedness, it needs		
to be the EAU factor and that will enable us to	go ahead and collect everything on roll as George		
mentioned for the current 262 units and as future units get platted and developed we will collect,		
that way we adopt the methodology conforming to what George represented.  Initially not to		
exceed $500 and going forward we can fluctuate that based on the same methodology for the debt		
assessments but having it direct collected or through the budget funding agreement until those		
units are platted and developed.											

2

June 14, 2018	Rolling Oaks CDD		
			
Mr.  Flint stated the master debt service methodology contemplates that the residential		

single-family

units

are 2

EAUs

and the condo

or

timeshare are both

1

EAU.

A single-family based

on are

the

this would be $500 and a condo or timeshare would

all single-family so the $500 would apply to those.

Mr. Chiste asked assuming there are 900 single

max of the O&M would be $450,000 a year?

be $250.	All the

-family homes in

platted

total in

lots to this point

this budget that

Mr. Flint stated then you have the timeshare and condos.

Mr.

Chiste

stated the

others

let's

assume there are 600

units

at

$250

that would be another

$1,300

or

so, we are maxed out at $500.

Mr.

future.	The

Mr.

Mr.

EAUs.

Mr.

Mr.

Babbar stated that would only be for the current budget, that is not a maximum

Board adopts a budget each year.

Flint stated that is just for the next fiscal year and it can be adjusted every year.

Chiste stated when you are fully built out it is whatever the costs are divided

Babbar stated exactly.

Flint stated right now nothing has been turned over to the District.	We know

for the

by the

that is

going to

be

occurring fairly

soon

but

as

stuff

gets turned over and the budget is adopted annually

those assessments can be adjusted.

This $500

cap

is

just

for the next fiscal year.

On MOTION by Mr. Chiste	seconded by Mr. Bouskila with all in	
favor Resolution 2018-04 approving the proposed Fiscal Year 2019	
budget and setting a public hearing for August 16, 2018 at 12:00 p.m.	

in the same location was

approved.

On MOTION by Mr. Chiste seconded by Mr.		
favor the Methodology utilized for debt service		
was	adopted for the O&M and $500 was the		
			
occurring this year.		

Bouskila with	all in	
using the EAU	factor	
cap for the closings	

FIFTH ORDER OF BUSINESS

Appointment

Chairman

of

Audit	Committee	and

ease

of

Mr. Flint stated administration.

we recommend the The main purpose

Board of the

appoint themselves as Audit Committee is to

the Audit approve

Committee the form of

for the

3

June

14

,

2018

Rolling Oaks CDD

notice, the RFP for the service and review and rank the responses once they are received and make		
a recommendation to the Board on the number one ranked firm.		
	On MOTION by Mr. Chiste	seconded by Mr. Bouskila with all in		
					
	favor  the  Board Members  were  appointed to  serve  as  the  Audit		
	Committee and Mr.	Bouskila was appointed Chair.		
Mr. Flint stated immediately			
		after this meeting we will have an Audit Committee meeting		
to approve the RFP and selection criteria.			
SIXTH ORDER OF BUSINESS		Staff Reports		
A.	Attorney				
There being none, the next item followed.		
B.	Engineer				
There being none, the next item followed.		
C.	Manager				

i.

Balance Sheet and Income Statement

A copy

of

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

ii.

Consideration

of

Funding Request no. 8

On MOTION by Mr. Chiste seconded by favor funding request no. 8 was approved.

Mr.

Bouskila with all in

iii.

Presentation

of

Number

of

Registered

Voters

-0

A copy voters residing

of the within

letter from the District

the was

Supervisor included in

of Elections indicating there are no registered the agenda package.

SEVENTH ORDER OF BUSINESS	Supervisor's Requests	

Mr.

Chiste asked is there information on the bond anticipation notes?

4

June

14

,

2018

Rolling Oaks

CDD

Mr. Brown stated I had a conversation with John	he said rather than doing		
	Kessler and			
bond anticipation notes	path on the remaining lots		
	maybe we will be looking at pursuing another			
that have not been bonded but do bonds rather than bond			
	anticipation notes.  I'm working now on		
what costs beyond what we have			
	recovered already, what we would be able to recover from what		
we have				
already spent and what we will spend over the next 12 months.		
Mr.	Chiste asked didn't the original indenture say something had to occur at X amount of		
			
lots	we incur additional debt?			
before				
Mr. Flint stated I don't remember offhand but I can take a look	at it.		
Mr. Brown stated he went back and			
	looked at it and thought we were alright.		
Mr. Flint stated it is an additional bonds test.			

EIGHTH

ORDER

OF

BUSINESS

Next Meeting Date

Mr. Flint stated the next meeting date would be the second			
					Thursday in July ifwe need to		
meet, otherwise August 16	th	is the public hearing for the budget	If there is anything that		
					
					adoption.			
needs to be done as far as the next bond issue you could handle that in July if you needed to and if		
not we have the	public hearing on August 16	th	•			

On MOTION by favor the meeting

Mr. Chiste	seconded	by	Mr. Bouskila with all in		
					
adjourned at 12:14 p.m.			

Secretary/Assistant Secretary

ChairmanNice

Chairman

5

SECTION

IV

This

item

will

be

provided under

separate cover

SECTION

V

This

item

w

ill

be

provi

ded

under

separate cover

SECTION

VI

SECTION

A

RESOLUTION 2018-05

THE	ANNUAL	APPROPRIATION  RESOLUTION		
OAKS COMMUNITY			
		DEVELOPMENT DISTRICT		
ANNUAL  APPROPRIATIONS  AND  ADOPTING		
THE	FISCAL  YEAR	BEGINNING  OCTOBER  1,		
SEPTEMBER 30, 2019.			

OF  THE  ROLLING	
RELATING TO THE	
THE	BUDGET  FOR	
2018,	AND  ENDING	

WHEREAS,	the District	Manager has, prior to the	fifteenth (15	th	)  day in June, 2018,		
submitted to the Board of Supervisors (the	"Board")							
			a proposed	budget for the next ensuing		
budget year (the "Proposed Budget"), along with an explanatory and				
each fund	of the Rolling Oaks Community							complete financial plan for		
		Development District (the				
provisions	of Section	l	90.008(2)(a), Florida Statutes; and			"District"), pursuant to the		

WHEREAS,	at least sixty (60) days prior to the adoption	of the Proposed Budget, the		
District  filed  a  copy		of the	Proposed  Budget  with  the  local  governing  authorities  having		
jurisdiction  over  the  area  included  in  the  District	pursuant  to  the  provisions  of  Section		
l 90.008(2)(b ), Florida Statutes; and						
												
WHEREAS,	the Board set	August 16, 2018 as the date for a public hearing thereon and		
caused  notice  of  such  public				
	hearing  to  be  given  by  publication  pursuant  to  Section		
190.008(2)( a), Florida Statutes; and													
WHEREAS,	the District	Manager posted the Proposed	Budget on	the District's website		
											
at least two days before the public hearing; and							
									
WHEREAS,	Section	190.008(2)(a), Florida Statutes,	requires that, prior to October 1, of		
each year, the District					
	Board by passage of	the Annual				
			Appropriation Resolution shall adopt a		
								
budget for the ensuing fiscal year and							
	appropriate such sums	of	money as the Board deems		
necessary to defray all	expenditures						
		of the District							
											
											during the ensuing fiscal year; and		
WHEREAS,	the District														
						Manager has prepared a Proposed Budget, whereby the budget		
shall  project  the  cash  receipts  and  disbursements  anticipated  during  a	given  time  period,		
including reserves for contingencies for emergency or other unanticipated expenditures during		
the fiscal year.																			

NOW,   THEREFORE,   BE   IT   RESOLVED	
SUPERVISORS	OF	THEROLLING	
DEVELOPMENT DISTRICT:	
Section 1.	Budget			

BY THE OAKS

BOARD OF COMMUNITY

a.

That  the  Board of	Supervisors has reviewed  the		
			
Budget, a copy of which is on file with the office		
the District's Records Office, and hereby approves		
shown in Section 2 below.		

District Manager's Proposed of the District Manager and at certain amendments thereto, as

{0007070 I .DOC/}

Page

1

of3

b.

C.

d.

Section 2.

That the Proposed Budget, attached hereto as	Exhibit "A," as amended by the		
Board,	is	hereby  adopted	in				
				accordance  with  the  provisions	of  Section		
190.008(2)(a), Florida Statutes, and incorporated herein by reference; provided,		
however, that the comparative figures contained in the adopted budget may be		
subsequently  revised  as  deemed  necessary  by  the  District  Manager to  reflect		
actual  revenues  and  expenditures  for  fiscal  year  2017/2018  and/or  revised		
projections for fiscal year 2018/2019.				
That the adopted	budget, as	amended,  shall be maintained in the office of the		
District Manager and at the District's Records Office and identified as the Budget		
for  the  Rolling  Oaks  Community  Development  District  for  the  Fiscal  Year		
Beginning	October 1, 2018, and Ending September 30, 2019, as adopted by the		
Board of Supervisors on August	16, 2018.				
The final adopted budget shall be posted by the District Manager on the District's		
official website within thirty (30) days after adoption.			
Appropriations							

	There  is  hereby	appropriated  out  of the  revenues	of	the	Rolling  Oaks  Community		
								
Development District, for the fiscal year beginning	October						
		1, 2018, and ending September 30,		
2019, the sum of$	1,335,449	to be raised by the levy of	assessments and otherwise, which		
sum is	deemed by the Board of					
								
				Supervisors to be necessary to	defray all expenditures of the		
District during said budget year, to be divided and appropriated in the following fashion:		

TOTAL GENERAL FUND

$

__13......

9.._,3

84.a...	__	

TOTAL DEBT SERVICE FUNDS

$__1.....,1.....	96_,	

06___5__

*Not

TOTAL ALL inclusive of any

FUNDS

collection costs.

$__1__.,

33__5;.a..,4"--'4;.;:a.9

__

Section 3.	Budget Amendments

year year

or as

Pursuant to Section 189.016,

within 60 days following the
follows:

Florida Statutes, end of the fiscal

the District at any time within the fiscal year may amend its budget for that fiscal

a.

b.

·The  Board may  authorize  an increase  or  decrease  in line  item appropriations		
within a fund by motion recorded in the	minutes if the total appropriations of the		
fund do not increase.			
			
The District Manager or Treasurer may authorize an increase or decrease in line		
item appropriations	within a fund if the total appropriations of the fund do not		

{0007070 I .DOC/}

Page

2

of3

c.

d.

increase and	if the aggregate	change in the original appropriation item does not		
exceed				
					
$10,000 or 10% of the			
		original appropriation.		
By  resolution,  the  Board may  increase  any  appropriation item and/or  fund to		
reflect					
receipt of any additional	unbudgeted monies and make the corresponding		
change to appropriations or the unappropriated balance.		
Any other budget amendments shall be adopted by resolution and consistent with		
Florida law.					

The District	Treasurer must							
	Manager or								
			establish administrative procedures to ensure that		
any budget amendments are in compliance with this Section 3 and Section	189.016	of the Florida		
Statutes,  among	other  applicable  laws.  Among	other  procedures,	the				
				District  Manager  or		
Treasurer must ensure that any amendments to budget(s) under	subparagraphs c. and d. above are		
posted on the District's website	within 5	days after adoption.			

Section 4.	Effective	Date.	This  Resolution  shall  take	effect  immediately  upon		
adoption.										
PASSED AND ADOPTED THIS 16TH DAY OF AUGUST, 2018			
Attest:			Rolling Oaks						

Community

Development District

George Flint

Secretary

ChairNice-Chair

of

the

Board

of

Supervisors

Exhibit

A:

2018/2019 Fiscal Year Budget

{0007070 I.DOC/}

Page 3

of

3

•	•	•

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•

•

•

•

•	•

•

•
•

•••••

•	•		

Rolling

Oaks

Community

Development

District

Proposed

Budget

FY 2019

•

•	•

•

•

•

•

•

•

•

•

•

•

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1

2-4

5

6-7

Table of Contents

General Fund

General Fund Narrative

Debt Service Fund

Amortization Schedule

Description

Revenues

Assessments

Developer Contributions

Total Revenues

Ex  enditures

Administrative

Rolling Oaks				
Community Development District			
Fiscal Year 2019				
	General Fund				
Adopted	Actuals	Projected	Total	Proposed	
Budget	Thru	Next	Thru	Budget	
FY2018	7/31/18	2 Months	9/30/18	FY2019	
$0	$0	$0	$0	$131,000	
$120,105	$65,641	$19,889	$85,530	$225,000	
$120,105	$65,641	$19,889	$85,530	$356,000	

Supervisor Fees

FICA Expense

Engineering

Attorney

Arbitrage

Dissemination

Assessment Administration

Annual Audit

Trustee Fees

Management Fees

Information Technology

Telephone

Postage

Insurance

Printing & Binding

Legal Advertising

Other Current Charges

Office Supplies

Dues, Licenses & Subscriptions

Administrative Expenses

Field O erations

Landscape/Lake Maintenance

Utilities

Contingency

Field Operations Expenses

Total Expenditures

Excess Revenues/(Expenditures)

$12,000	$4,600	
$918	$352	
$12,000	$0	
$25,000	$13,780	
$600	$0	
$3,500	$2,917	
$10,000	$0	
$5,000	$4,500	
$4,000	$0	
$35,000	$29,167	
$600	$500	
$300	$6	
$1,212	$361	
$5,800	$5,750	
$1,200	$287	
$2,000	$1,168	
$500	$4,502	
$300	$122	
$175	$175	
$120,105	$68,186	
$0	$0	
$0	$0	
$0	$0	
$0	$0	
$120,105	$68,186	
$0	($2,545)	

$2,000	$6,600	$12,000		
$153	$505		$918		
$0	$0	$12,000		
$1,100	$14,880	$25,000		
$0	$0		$600		
$583	$3,500	$3,500		
$2,500	$2,500	$10,000		
$0	$4,500	$5,000		
$4,000	$4,000	$4,000		
$5,833	$35,000	$35,000		
$100	$600	$600		
$18	$24	$300		
$160	$521	$1	,212		
$0	$5,750	$6,350		
$50	$337	$1,200		
$810	$1,978	$2,000		
$0	$4,502	$500		
$36	$158	$300		
$0	$175	$175		
$17,344	$85,530	$120,655		
$0	$0	$175,000		
$0	$0	$50,000		
$0	$0	$10,345		
$0	$0	$235,345		
$17,344	$85,530	$356,000		
$2,545	$0		$0		
	Net Assessments	FY2019		
		$131,000		
Add : Discounts & Collections	$8,384		
	Gross Assessments	$139,384		
	Units	262			
Per Unit Assessment	$532			

Rolling Oaks

Community Development District

GENERAL

FUND

BUDGET

REVENUES:

Assessments

The District will levy the District in order to

a	non-ad valorem pay for the operati

assessment on ng expenditures

all the assessable property within during the fiscal year.

Develop

er

Contributions

The District will enter into a Funding Agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

EXPENDITURES:							
Administrative:							
Supervisor Fees							
Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting,		
not to exceed $4,800 per year paid to each Supervisor for the time devoted to District		
business and  meetings. The  District anticipates  12 meetings per year,  with  all  Board		
members receiving payment for their attendance at each meeting.		
FICA Ex  ense							
Represents the Employer's share of Social Security and Medicare taxes withheld from		
Board of Supervisor checks.							
Engineering								
The	District'sengineer will be providing general engineering services to the District, e.g.		
			
attendance and preparation for monthly board meetings, review invoices, etc.		
Attorney								
The District'slegal counsel,	Straley & Robin, will be providing	general legal services to the		
						
District, e.g. attendance and preparation for monthly meetings,	preparation and review of		
agreements, resolutions, etc.						
						
Arbitrage								
The	District  will  contract  with  an  independent  certified  public  accountant to  annually		
			
calculate the	District'sArbitrage Rebate Liability	on the	Series 2016 Special Assessment		
						
Revenue Bonds.					

2

Rolling Oaks

Community Development District

GENERAL

FUND

BUDGET

Dissemination			
The District will be required by the Security and Exchange	to comply with Rule		
Commission			
15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues.		
Governmental Management Services-CF, LLC has been retained to serve as the District's		
dissemination agent.			

Assessment Administration		
The  District  will  contract  to	levy  and  administer  the  collection	
assessment on all assessable property within the District.	
Annual Audit		

of

non-ad	valorem

The  District is	required  by	Florida  Statutes to arrange for	
financial records on an annual basis.	

an

independent audit

of

its

Trustee Fees				
The District will pay annual trustee fee for the Series 2016 Special Assessment Bonds held		
at Regions Bank.			
Management Fees			
The District has contracted with Governmental Management Services-CF, LLC to provide		
Management, Accounting and Recording Secretary Services for the District. The services		
include, but are not limited to, recording and			
	transcription of board meetings, administrative		
services, budget preparation, all financial reporting, annual audits, etc.		
Information Technology			
Represents costs related to the District'saccounting and information systems,  District's		
website creation and maintenance, electronic compliance with Florida Statutes and other		
electronic date requirements.			
Telephone				
Telephone and fax machine.			
Postage				
Mailing of Board	meeting agenda packages, overnight deliveries, correspondence, etc.		
			
Insurance				
The District'sgeneral liability, public officials liability and property insurance coverage is		
provided by Florida  Insurance Alliance  (FIA).  FIA	specializes in providing insurance to		
governmental agencies.			

Printing & Binding

Printing and Binding agenda packages for board meetings, printing checks, stationary, envelopes etc.

of

computerized

3

Rolling Oaks

Community Development District

GENERAL

FUND

BUDGET

Leg

al

Advertising

The District

hearings, etc

is in

required to advertise various notices for monthly Board meetings, public a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Miscellaneous office supplies.

Dues. Licenses

&

Subscriptions

The District is Opportunity for

required to pay

$175.  This is the

an annual fee to the Florida Department of Economic only expense under this category for the District.

Field O  erations

Landscape/Lake Maintenance

The District will incur monthly landscape expenses, which include mowing, edging, and string-trimming. The District will also provide monthly aquatic management services for inspection and treatment of lakes throughout the District.

The District will incur cost for electric, street lighting, water and sewer.

Contingency

To record

accounts.

the cost of any maintenance expenses not properly classified

in

any

of

the other

4

Descrletion		
Revenues		
Assessments - Tax Roll		
Assessments - Direct		
Interest		
Transfer In - COi		
Carry Forward Surplus		
Total Revenues		
Ex  enditures		
Interest - 11/01		
Principal - 11/01		
Interest - 05/01		
Transfer Out - Construction		
Total Expenditures		
Excess Revenues/(Expenditures)	
l unitType	Units	
Vacation Rental Homes	262	
Less: Discount/Collection (6%)		
!Net Annual Assessment		

Rolling Oaks						
Community Development District					
Fiscal Year 2019						
Debt Service Fund						
Adopted	Actuals	Projected	Total	Proposed		
Budget	Thru	Next		Thru	Budget		
FY2018	7/31/18	2 Months	9/30/18	FY2019		
$0	$0	$0		$0	$589,501		
$1,124,300	$450,378	$670,378	$1	,120,756	$534,800		
$0	$12,868						
		$3,240		$16,108	$2,500		
$0	$17,336	$0		$17,336	$0		
$451,515	$445,476						
		$0	$445,476	$688,463		
$1,575,815	$926,057	$673,618	$1,599,675	$1,815,264		
$450,378	$450,378	$0	$450,378	$450,378		
$0	$0	$0		$0	$220,000		
$450,378	$450,378	$0	$450,378	$445,428		
$0	$10,456	$0		$10,456	$0		
$900,756	$911,212	$0	$911,212	$1,115,806		
$675,058	$14,845	$673,618	$688,463	$699,458		

Gross Per Unit	Total			Principal 11/1/19	$	230,000		
$	2,393.62	$	627,128.44						
					Interest 11/1/19	$	445,428		
		$	(37 ,627 .71	)					
					Total	$	675,428		
		$	589 ,500.73 1					

5

	Rolling Oaks			
		Community Development District		
	Series 2016, Special Assessment Bonds		
		(Term Bonds Combined)			
		Amortization Schedule			
Date	Balance	Principal	Interest	Annual	

11	/1/18	
5/1/19	
11/1/19	
5/1/20	
11/1/20	
5/1/21	
11/1/21	
5/1/22	
11/1/22	
5/1/23	
11/1/23	
5/1/24	
11/1/24	
5/1/25	
11/1/25	
5/1/26	
11/1/26	
5/1/27	
11/1/27	
5/1/28	
11		/1	/28	
5/1/29	
11/1/29	
5/1/30	
11/1/30	
5/1/31	
11/1/31	
5/1/32	
11/1/32	
5/1/33	
11/1/33	
5/1/34	
11/1/34	
5/1/35	
11/1/35	
5/1/36	
11/1/36	
5/1/37	
11	/1/37'	
5/1/38	
11/1/38	

$
$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

9,120,000

15,420,000

15,420,000

15,190,000

15,190,000

14,950,000

14,950,000

14,695,000

14,430,000

14,430,000

14,430,000

14,155,000

14,155,000

13,865,000

13,865,000

13,560,000

13,560,000

13,240,000

12,545,000

12,545,000

12,545,000

12,545,000

12,545,000

12,170,000

12,170,000

11,775,000

11,775,000

11,355,000

11,355,000

10,910,000

10,910,000

10,440,000

10,440,000

9,940,000

9,940,000

9,410,000

9,410,000

8,850,000

8,260,000

8,260,000

8,260,000

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

220,000

230,000

240,000

255,000

265,000

275,000

290,000

305,000

320,000

340,000

355,000

375,000

395,000

420,000

445,000

470,000

500,000

530,000

560,000

590,000

625,000

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

450,378

445,428

445,428

440,253

440,253

434,853

434,853

429,116

429,116

423,153

423,153

415,934

415,934

408,322

408,322

400,316

400,316

391,916

391,916

382,991

382,991

373,672

373,672

362,656

362,656

351,053

351,053

338,716

338,716

325,644

325,644

311,838

311,838

297,150

297,150

281,581

281,581

265,131

265,131

247,800

247,800

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

1,120,756

1,120,856

1,120,506

1,124,706

1,123,231

1,121,306

1,121,869

1,121,644

1,120,631

1,123,831

1,120,981

1,122,344

1,120,313

1,122,106

1,122,431

1,121,288

1,123,675

1,124,300

1,123,163

1,120,263

1,120,600

6

	Rolling Oaks Community Development District		
	Series 2016, Special Assessment Bonds		
		(Term Bonds Combined)			
		Amortization Schedule			
Date	Balance	Principal	Interest	Annual	

5/1/39	
11/1/39	
5/1/40	
11/1/	40	
5/1/41	
11/1/41	
5/1/42	
11/1/42	
5/1/43	
11/1/43	
5/1/44.	
11/1/44.	
5/1/45	
11/1/45	
5/1/46	
11/1/46	
5/1/47	
11/1/47	
Totals	

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

7,635,000

7,635,000

6,970,000

6,970,000

6,265,000

6,265,000

5,520,000

5,520,000

4,730,000

4,730,000

3,890,000

3,890,000

3,000,000

3,000,000

2,060,000

2,060,000

1,060,000

1,060,000

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

665,000

705,000

745,000

790,000

840,000

890,000

940,000

1,000,000

1,060,000

15,640,000

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

229,050

229,050

209,100

209,100

187,950

187,950

165,600

165,600

141,900

141,900

116,700

116,700

90,000

90,000

61,800

61,800

31,800

31,800

17,573,222

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

1,123,100		
1,123,200		
1,120,900		
1,121,200		
1,123,800		
1,123,400		
1,120,000		
1,123,600		
1,123,600		
33,663,600	1	

7

SECTION

8

	RESOLUTION 2018-06					
A   RESOLUTION  OF  THE  BOARD  OF  SUPERVISORS  OF  THE		
ROLLINGOAKSCOMMUNITYDEVELOPMENTDISTRICT		
ADOPTING A METHODOLOGY; IMPOSING SPECIAL ASSESSMENTS;		
PROVIDING FOR COLLECTION AND ENFORCEMENT OF SPECIAL		
ASSESSMENTS;  ADOPTING   AND  CERTIFYING	AN	ASSESSMENT		
ROLL;					
						
PROVIDING FOR					
	AMENDMENT OF THE ASSESSMENT ROLL;		
PROVIDING FOR A BUDGET FUNDING AGREEMENT; PROVIDING A		
SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.		
WHEREAS,	the					
	Rolling Oaks Community Development District (the	"District") is a local		
unit of special-purpose					
	government established pursuant to Chapter 190, Florida Statutes for the		
purpose of providing,					
	operating and maintaining infrastructure improvements, facilities and services		
to the lands within the District; and					

WHEREAS,

the District is located in Osceola County,

Florida (the

"County");

and

	WHEREAS,  the  District	owns  and  operates  various  infrastructure  improvements  and	
provides certain services in accordance with Chapter 190, Florida Statutes; and	
	WHEREAS, the Board of Supervisors (the "Board") of the District hereby determines to	
undertake various operations and maintenance activities described in the District's budget for fiscal	
year	2018/2019  ("Operations  and  Maintenance  Budget"),  attached  hereto  as  Exhibit A  and	
incorporated as a material part of this Resolution by this reference; and	

WHEREAS,

maintenance  services

Maintenance Budget;

the District must obtain sufficient funds to provide for the operations		
and facilities	provided by the District	as	described  in the Operations		
and					

and and

WHEREAS,	the provision	of such services,	facilities, and operations		
within the District; and					
					
WHEREAS,	Chapter	190, Florida Statutes, provides that the District		
assessments on benefitted lands within the District; and		

is a benefit to lands

may impose special

WHEREAS,	the  Board  previously	adopted  a  methodology  for		
finance the				
				
construction of certain capital			
described in the	improvements financed through		
Amended Master Assessment Methodology Report dated		
with the	"Methodology") incorporated by reference herein;		
District (the			

special	assessments  to	
the		
issuance of bonds as	
October	13, 2016 on file	

WHEREAS,	the Board previously	expressed a desire to utilize the same Methodology for		
purposes of					
					
allocating the special assessments, per product type to be developed within the District,		
to fund the Operations and Maintenance Budget for all platted lots within the District;		
WHEREAS,	the	Board recognizes that platted lots receive a direct and indisputable benefit		
and unplatted and undeveloped lots only receive an ancillary benefit from the District's operations;		

{00070702.DOC/}

Page

1

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4

WHEREAS, as additional lands get platted and developed the Methodology will be applied to them for future budget years;

WHEREAS, special assessments Collector ("Uniform

Chapter 197, Florida Statutes, provides a mechanism pursuant to which such	
may  be placed	on the  County  Tax  Roll  and collected by  the  County Tax	
Method"); and		

WHEREAS, intention to utilize the

the District has, by resolution and public notice, previously evidenced its Uniform Method; and

WHEREAS, the Appraiser (the "Property provide for the collection

District has approved an agreement with the Osceola County Property Appraiser") and Osceola County Tax Collector (the "Tax Collector") to of special assessments under the Uniform Method; and

WHEREAS,	it is in the best interests	of the District to proceed with the imposition of the		
special assessments using the Methodology on all assessable lands for operations and maintenance		
in the amount contained in the Operations and Maintenance Budget; and			
WHEREAS,	the District	desires  to  levy  and collect special assessments reflecting each		
parcel's portion of the			
						
	Operations and Maintenance Budget; and				
WHEREAS,	it is in the best interests	of the District to adopt the Assessment Roll of the		
District (the "Assessment Roll")	attached to this Resolution as	Exhibit B	and incorporated as a		
						
material part of this Resolution by this					
					
		reference, and to certify a	the Assessment Roll in		
Exhibit B to the Tax Collector			portion of			
	pursuant to the Uniform Method; and			

WHEREAS, it is in the best interests of		
the Assessment Roll adopted herein, including		
Resolution, as the	Property Appraiser updates		
			
authorized by Florida law;		

the District to permit the District Manager to amend		
the property	certified to the Tax Collector by this		
			
the property roll for the	County, for such time as		

WHEREAS, the	Rolling Oaks Splendid,		
			
"Developer")  presently  owns  a  majority  of the		
District,  which  property  will  benefit  from  the		
District's facilities, activities and services and from		

LLC, a Florida limited

unplatted	developable

future	construction	and

the continued operations

liability company	(the	
property  within	the	
acquisition  of future	
of the District; and	

WHEREAS, to the extent the	District needs additional funds	
and services during the Fiscal Year 2018/2019 the Developer  desires	
necessary to the District to proceed with its operations for the Fiscal	

to provide for the operations		
to	as are		
provide such funds			
Year 2018/2019.			

NOW,   THEREFORE,   BE   IT   RESOLVED   BY  THE   BOARD   OF	
SUPERVISORS	OF	THEROLLINGOAKSCOMMUNITY	
DEVELOPMENT DISTRICT:	

Section 1.	Methodology. The Board hereby adopts the	
purposes of allocating benefit per	product type, used for its debt	
special assessments to fund the Operations and Maintenance Budget.	

same Methodology, solely for assessments to be used for its

{00070702.DOC/}

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2

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4

	Section 2.	Benefit. The provision of the services, facilities	and operations		
in the	Operations and Maintenance Budget confer a	special and peculiar benefit		
within the District, which benefits exceed or equal the			
				
		costs of the assessments.  The		
the costs to the specially benefited lands is				
		shown in Exhibits A and B.			

as described to the lands allocation of

Section 3.

Assessment Imposition.

Pursuant to Chapter

190

of

the Florida Statutes, and

using procedures authorized by Florida law for the	levy and collection of		
special							special assessments, a		
assessment for operations and maintenance is hereby imposed and levied on benefited lands		
within the District in accordance with		and	B.	The lien of the			
	Exhibits A				special assessments for		
operations and maintenance imposed and	by this Resolution shall be		
	levied			
of this Resolution.							effective upon passage		
									
Section 4.	Collection and Due Date.								

a.

Uniform Method Assessments.	The collection	of the	previously levied debt		
					
service assessments and the operations and maintenance special assessments on		
the platted lots and developed lands are anticipated to be at the same time and in		
the same manner as County taxes in accordance with the Uniform Method, as set		
forth in Exhibits A and B"					

b.

Direct Bill Assessments.		The	annual installment for the previously levied debt		
service assessments, and the annual operations and maintenance assessments, on		
a																				
portion of the undeveloped and	unplatted lands may be collected directly by the		
District in accordance with Florida law. Assessments directly collected by the		
District are due in full on	December  1, 2018; provided,	however, that, to the		
										
extent permitted by law,  the assessments due may be paid in several partial,		
deferred payments and according to the following schedule:  50% due no later		
than December	1,		2018, 25% due no later than February	1,	2019 and 25% due no		
later than May	1,	2019.  In the	event that an assessment payment is not made in		
accordance with the schedule stated above, the whole assessment -  including any		
remaining partial, deferred payments for Fiscal Year 2018/2019, as well as any		
future	installments	of  special	assessments	securing	debt	service	-	shall		
										
immediately  become  due  and  payable;  shall  accrue  interest,  penalties  in  the		
amount  of  one	percent	(1%)		per  month,  and  all  costs  of  collection  and		
enforcement; and shall either be enforced pursuant to a foreclosure action, or, at		
the  District's sole discretion,  collected pursuant to the Uniform Method on a		
future	tax  bill,	which  amount  may  include	penalties,	interest,  and	costs  of		
collection and enforcement.  Any prejudgment interest on delinquent assessments		
shall accrue at the	applicable rate	of	any bonds or	other debt instruments secured		
by  the	special								
		assessments,  or,  in	the  case				
				of	operations	and  maintenance		
								
assessments, at the applicable statutory prejudgment interest rate.  In the event an		
assessment subject to direct collection by the District shall be delinquent, the		
District  Manager  and  District  Counsel,  without  further  authorization  by  the		
Board,	may  initiate	foreclosure  proceedings	pursuant	to	Chapter  170	of the		
Florida  Statutes  or  other  applicable  law  to  collect  and  enforce  the  whole		
assessment, as set forth herein.													

{00070702.DOC/}

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4

c.

Future Collection Methods.	The decision to collect special assessments by any		
particular method -	e.g., on the tax roll or by direct bill -  does not mean that such		
method  will  be  used  to  collect  special  assessments  in  future  years,  and  the		
District reserves the right in its sole discretion to select collection methods in any		
given	year, regardless of past	practices.   All assessments collected by the Tax		
				
Collector shall be due and payable as provided in Chapter 197, Florida Statutes.		

Section 5.	Funding	Agreement.		To the extent necessary,	and after the collection of		
revenues								
										
from the levy of special	assessments, the Developer agrees to make available to		
the District the monies	necessary for the operation of the	District for the Fiscal Year		
2018/2019	as						
		called  for  in  the  Fiscal  Year  2018/2019  Budget  Funding  Agreement		
between the District and the Developer attached hereto as	Exhibit C. The funds shall be		
placed in the					as			
									
	District's depository					
						determined by the District.		

Section 6.

as Exhibit

Assessment

B, is hereby

Roll. The District's Assessment Roll, attached to this Resolution certified and adopted.

Section 7.	Assessment Roll		
			Amendment. The District Manager shall keep apprised of	
all updates made to the Osceola County property roll by the County Property Appraiser	
after the  date	of this	Resolution,  and  shall amend the District's Assessment Roll  in	
accordance with any such updates, for		
			such time as authorized by	
amendment of the Assessment	Florida law.  After any	
			Roll, the District Manager shall file the updates to the tax	

roll in

the

District records.

Section 8. provisions remaining

Severability.	The	invalidity  or  unenforceability		
of this  Resolution			
	shall  not  affect  the  validity		
portions of this			
			
	Resolution, or any part thereof.		

of	any  one  or	more		
or	enforceability	of the		

Section 9.	Effective  Date.

adoption of this Resolution Development District.

This  Resolution  shall  take  effect  upon  the  passage  and	
by the		
Board of Supervisors of the	
	Rolling Oaks Community	

PASSED AND ADOPTED THIS 16TH DAY OF AUGUST, 2018.

Attest:

Rolling Oaks

Community Development District

George Flint	ChairNice-Chair		
Secretary			
Exhibit A-			
Fiscal Year 2018/2019 Budget		
Exhibit B -  Assessment Roll			
Exhibit C -Fiscal Year 2018/2019	Budget Funding Agreement		

of

the

Board

of

Supervisors

{00070702.DOC/}

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4

SECTION

VII

Rolling Oaks Community Development District

Fiscal Year 2018/2019 Budget Funding Agreement

This Fiscal  Year 2018/2019  Budget Funding		
entered into this  16th	day	of August, 2018, by and		
Development	District	(the	"District"), and Rolling		
					
liability company				
	(hereinafter "Developer").		

Agreement	("Agreement') is made and		
between the			
	Rolling Oaks Community		
Oaks				
	Splendid,  LLC	a Florida limited		

				Recitals							
WHEREAS,	the	District  is  a  local  unit	of special-		government  established		
pursuant to Chapter 190, Florida	Statues for the purpose		purpose			
		of		financing, constructing,		
operating and/or maintaining certain infrastructure; and		planning,			
							
WHEREAS,	the District,										
		pursuant to Chapter 190, Florida				
such taxes, special assessments, fees and other charges as may be	Statutes, is authorized to levy		
	necessary in furtherance of the		
District's activities and services; and							
									
WHEREAS,	Developer										
within  the  District	(the	presently owns certain unplatted but developable real property		
		"Property"),	which	property		will	benefit  from	future  public		
infrastructure  and future									
	operation and  maintenance of the					
		District's	facilities,	activities and		
							
services and from the continued									
										
		operations of the District; and					

WHEREAS, the District 2018/2019 (the "Budget"), which September 30, 2019; and

is  adopting  its  general  fund  budget  for  the  Fiscal  Year		
year	commences  on  October	1,	2018,  and  concludes  on		

WHEREAS,	this	Budget, which both parties recognize may be amended from time to		
time in the sole discretion of the	District, is on file with the District Manager; and		
						
WHEREAS,	the District has the option of levying non-ad	valorem assessments on all		
lands that will benefit from the activities, operations and services set forth in the Budget, or		
utilizing such other revenue		as may be available to it; and			
			sources				
WHEREAS,	the	District has levied assessments on platted and developed properties, that		
receive  a direct and  indisputable  benefit from the  District's  operations,  to  proceed  with  its		
operations as									
described in the Budget; and				
WHEREAS,	to the						
adequate to meet the			extent that the revenues collected for the general fund budget are not		
	operations of the District, the Developer is	willing to provide such funds as		
				
are necessary to allow the District to proceed with its operations; and			
WHEREAS,	the Developer	agrees that the activities,  operations and services provide		
some benefit to the Property; and			

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5

WHEREAS,	the				
through the	imposition	Developer and District desire		
		of	a	continuing lien against		
herein.						

to secure such additional budget funding		
the	Property  and  otherwise	as	provided		

NOW, THEREFORE, based covenants of the parties, the receipt parties agree as follows:

upon good and valuable and sufficiency of which

consideration and the mutual are hereby acknowledged, the

1.

correct and

INCORPORATION OF			
RECITALS. The  recitals	stated  above  are true  and		
by this reference are incorporated			
herein as a material part of this Agreement.		

	2.				FUNDING.	To the	extent necessary, and after the	collection	of revenues from		
the levy	of	special assessments, the					
			Developer agrees to make available to the District the monies		
necessary for the operation of the	District as called for in the Budget, as may be amended from		
time to time in the District's sole discretion, within	fifteen (15) days	of written request by the		
District.  Any amendments to the District's Budget adopted by the District at a duly noticed		
meeting shall have the effect	of	amending this Agreement without	further action of the parties.		
																
Funds provided hereunder shall be placed in the District's general checking account.		
3.				CONTINUING LIEN.	The District shall have the right	to	file a continuing lien		
upon the  Property for  all payments due  and  owing  under  the		terms	of	this Agreement  and		
for  interest thereon,  and for reasonable  attorneys'  fees, paralegals'  fees,  expenses and court		
costs incurred	by	the District incident to the collection	of	funds	under this Agreement  or for		
enforcement this lien, and all sums advanced and paid by the District for taxes and payment on		
account		of	superior  interests,  liens  and  encumbrances  in order to  preserve  and protect  the		
District's	lien.	The  lien	shall  be	effective  as	of	the  date  and  time	of the  recording  of a		
'Notice	of Lien for FY	2018/2019  Budget" in the public	records	of	Osceola County,  Florida,		
stating	among	other							
			things, the description	of										
					the real property  and the amount due as of the		
recording	of	the Notice, and	the  existence	of	this	Agreement.  The  District Manager, in its		
sole  discretion,  is	hereby  authorized  by  the  District  to  file  the	Notice	of Lien  for  FY		
2018/2019		Budget		on  behalf  of	the  District,  without  the  need				
						of  further  Board  action		
authorizing  or  directing  such  filing.	At  the District  Manager's  direction,  the District  may		
also bring	an		action at law against the	record title holder to the Property to pay the  amount		
due  under  this  Agreement,  or  may  foreclose  the  lien		against the  Property  in any  manner		
authorized		by	law.		The  District  may  partially  release  any  filed  lien  for  portions  of the		
Property	subject to	a plat if	and when the Developer has	demonstrated,  in the District's  sole		
							
discretion,  such release  will  not  materially  impair the						
		ability	of the  District to enforce  the		
collection	of	funds	hereunder.  In the  event the							
				Developer sells		any	of the Property after the		
execution	of	this								
			Agreement,  the  Developer's  rights  and obligations  under  this  Agreement		
shall remain the same, provided however that the														
																			District shall only have the right to file a lien		
upon the remaining Property owned by the Developer.													

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3.

ALTERNATIVE  COLLECTION METHODS.

					a.			In the  alternative  or in addition to the  collection  method  set forth in		
										
Paragraph 2 above, the District may enforce the		collection	of funds due	under this Agreement		
by action against the Developer in													
	the appropriate judicial											
		forum in and for Osceola County,		
Florida.	The	enforcement	of the	collection  of	funds	in this		manner	shall	be  in	the  sole		
discretion															
	of the	District Manager on	behalf	of											
					the  District.	In the								
							event  that either		party is		
															
required to enforce																
	this Agreement by court proceedings or otherwise, then the parties agree		
that  the  prevailing  party  shall	be	entitled	to		recover	from	the	other  all	costs  incurred,		
including	reasonable	attorneys'	fees		and		costs	for  trial,	alternative	dispute	resolution,	or		
appellate proceedings.																																		
					b.			In the	alternative	or		in addition to the	other	methods	of collection	set		
																		
forth  in this Agreement,  the District,  in its sole discretion,	may					
		choose  to	certify	amounts		
due	hereunder		as	a	non-ad		valorem	assessment	on	all	or  any	part	of the	Property	for		
collection,	either through the															
		Uniform Method of													
			Collection set forth in	Chapter	197	or under		
any  method	of	direct									
			bill  and	collection											
						authorized  by  Florida  law.						
								Such	assessment,  if		
imposed,  may											
	be	certified on the	next								
				available	tax	roll	of		the	Osceola	County property		
appraiser.																								

	4.				AGREEMENT;	AMENDMENTS.	This	instrument	shall	constitute	the		
													
final and complete	expression									
		of the  agreement																	
			between the parties relating  to the  subject		
matter  of										
	this Agreement.	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	of	the		
parties hereto.																																
																																					
	5.				AUTHORIZATION.		The	execution	of	this		Agreement	has	been  duly		
																
authorized by the  appropriate		body or											
				official of											
					all parties hereto,	each party	has complied		
with  all  the	requirements  of		law,	and						
					each	party	has	full	power				
										and	authority to  comply		
																
with the terms and	provisions		of this instrument.																					
																														
	6.				ASSIGNMENT.	This Agreement	may be assigned,  in	whole or in part,	by		
either  party		only	upon  the		written	consent	of					
								the	other,  which						
											consent	shall	not	be		
unreasonably withheld.																
																																	
	7.				DEFAULT.		A default by	either party under this Agreement	shall entitle the		
											
other to all remedies available	at law or in equity, which shall include, but not be limited to,		
the right of	damages,	injunctive	relief and	specific performance  and	specifically including		
the	ability	of the District to	enforce any and all payment obligations under this Agreement in		
					
the manner described herein in Paragraphs 2 and 3 above.																	

8.

Agreement

action shall

formal party

THIRD   PARTY   RIGHTS;   TRANSFER   OF	PROPERTY.	This		
is solely for the	benefit  of the formal  parties  herein  and no  right or cause of		
accrue upon or by reason hereof, to or for the	of any third party	not a		
	benefit				
hereto.  Nothing in this Agreement expressed or				
	implied is intended or shall be		

{00070713.DOC/}

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construed to  confer upon any person or corporation other than the parties  hereto  any right,		
remedy  or  claim	under  or by  reason  of	this Agreement  or	any	provisions  or  conditions		
hereof; and all  of	the	provisions,								
			representations, covenants and conditions herein contained		
shall  inure  to  the  sole					
	benefit  of and  shall  be  binding upon  the	parties  hereto  and  their		
							
respective  representatives,  successors  and  assigns.					
	In  the  event the  Developer  sells  or		
otherwise	disposes  of its  business  or  of	all  or  substantially	all	of its  assets  relating  to		
improvements, work product, or lands within the District, the Developer shall continue to  be		
bound by	the  terms	of	this	Agreement  and  additionally  shall  expressly require  that  the		
purchaser	agree to be	bound by the terms	of this Agreement.	The Developer shall give 90		
days prior written notice to the District under this	Agreement of any such sale or disposition.		

9.	FLORIDA	LAW

contained herein shall be construed, State of Florida.

GOVERNS. interpreted

This Agreement and and controlled according to

the provisions the laws of the

10.

ARM'S  LENGTH TRANSACTION.

This Agreement has been negotiated

fully between the	parties  as an arm's length transaction.  The		
preparation of this Agreement with the assistance		parties participated fully in the		
	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 the doubtful language will not		
be interpreted or construed against any party.				

11.

both	parties

termination,

EFFECTIVE DATE.  The Agreement		
hereto.  The	enforcement  provisions  of		
			
until all payments due under this Agreement		

shall be effective
this	Agreement

are paid in full.

after execution by shall  survive  its

12.	ENTIRE  AGREEMENT.  This  instrument  shall	
complete expression  of this Agreement between the parties relating	
Agreement.		

constitute	the	final

to the subject matter of

and this

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IN WITNESS WHEREOF,

written above.

the parties execute this agreement the day and year first

Attest:

George Flint

Secretary

Rolling Oaks

Community Development District

ChairNice-Chair of the Board of Supervisors

Rolling Oaks Splendid, LLC

a Florida limited liability company

Arthur J.

President

Falcone

{00070713.DOC/}

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SECTION

VI

11

SECTION

B

SECTION

1

Th is item

wi

ll

be

prov

ided

under

separate cover

SECTION

C

SECTION

1

•

•

•

•

•

•

•

•

4t;	•	•

ce
·:

...
• • •

•'••
t:e
'ii
e'll•
:·

Rolling Oaks

Community

Development District

Unaudited Financial Reporting

July

31, 2018

•	•

•	•

•

•

•	•

•

•

•

•

•	•

•

1

2

3

4

5

6

7

8

9

Table of Contents

Balance Sheet

General Fund Income Statement

Debt Service Income Statement

Capital Projects Income Statement

Month to Month

Developer Contributions Schedule

Long Term Debt Summary

Assessments

Series 2016 Construction Schedule

ASSETS:

CASH

INVESTMENTS

SERIES 2016

REVENUE

RESERVE

INTEREST

CAPITALIZED INTEREST

CONSTRUCTION

COSTS OF ISSUANCE

DUE FROM DEVELOPER

TOTAL ASSETS

LIABILITIES:

ACCOUNTS PAYABLE

FUND EQUITY:

FUND BALANCES:

RESTRICTED FOR DEBT SERVICE

RESTRICTED FOR CAPITAL PROJECTS

UNASSIGNED

TOTAL  LIABILITIES & FUND EQUITY

ROLLING OAKS

COMMUNITY DEVELOPMENT DISTRICT

BALANCE SHEET

July 31, 2018

General	Debt Service	Capital Projects	
Fund	Fund	Fund	

$8,628	--	---		
---	$20,695	---		
--	$1,130,615	---		
--	$20	--		
	$7	---		
---				
				
---	---	$121,799		
---				
	---	$42		
$15,520	---	--		
$24,148	$1,151,338	$121,841		
$15,520	---	---		
				
--	$1,151,338	---		
---	---	$121,841		
$8,628	---	---		
				
$24,148	$1,151,338	$121,841		

Totals

$8,628

$20,695

$1,130,615

$20

$7

$121,799

$42

$15,520

$1,297,327

$15,520

$1,151,338

$121,841

$8,628

$1,297,327

	REVENUES:	
	DEVELOPER CONTRIBUTIONS/ASSESSMENTS	
	TOTAL	REVENUES	
	EXPENDITURES:	
	ADMINISTRATIVE:	
	SUPERVISORS FEES	
	FICA EXPENSE	
	ENGINEERING	
	ATTORNEY	
	ARBITRAGE	
	DISSEMINATION	
	ASSESSMENT ADMINISTRATION	
	ANNUAL AUDIT	
	TRUSTEE FEES	
	MANAGEMENT FEES	
	INFORMATION TECHNOLOGY	
	TELEPHONE	
	POSTAGE	
	INSURANCE	
	PRINTING & BINDING	
	LEGAL ADVERTISING	
	OTHER	CURRENT CHARGES (1)	
	OFFICE	SUPPLIES	
	DUES, LICENSE & SUBSCRITIONS	
	TOTAL	EXPENDITURES	
	EXCESS REVENUES (EXPENDITURES)	
	FUND BALANCE • Beginning	
	FUND BALANCE· Ending	
(1)	Regions Escrow Fees Included	

ROLLING OAKS

COMMUNITY DEVELOPMENT DISTRICT

GENERAL FUND

Statement of Revenues & Expenditures

For The Period Ending July 31, 2018

ADOPTED	PRORATED BUDGET

BUDGET	7/31/18

$120,105	$100,088

$120,105	$100,088

$12,000	$10,000	
$918	$765	
$12,000	$10,000	
$25,000	$20,833	
$600	$500	
$3,500	$2,917	
$10,000	$8,333	
$5,000	$4,167	
$4,000	$3,333	
$35,000	$29,167	
$600	$500	
$300	$250	
$1,212	$1,010	
$5,800	$5,800	
$1,200	$1,000	
$2,000	$1,168	
$500	$417	
$300	$250	
$175	$175	
$120,105	$100,584	
so		
$0		
$0		

ACTUAL		
7/31/18	VARIANCE	
$65,641	($34,447)	
$65,641	($34,447)	

$4,600	$5,400	
$352	$413	
$0	$10,000	
$13,780	$7,054	
$0	$500	
$2,917	($0)	
$0	$8,333	
$4,500	($333)	
$0	$3,333	
$29,167	($0)	
$500	$0	
$6	$244	
$361	$649	
$5,750	$50	
$287	$713	
$1,168	$0	
$4,502	($4,085)	
$122	$128	
$175	$0	
$68,186	$32,398	
($2,545)		
$11,173		
$8,628		

2

REVENUES:			
ASSESSMENTS			
INTEREST			
TRANSFER IN			
TOTAL REVENUES	
EXPENDITURES:			
series 2016			
INTEREST - 11/01		
PRINCIPAL - 11/01	
INTEREST - 05/01		
Transfer Out			
TOTAL EXPENDrTURES	
EXCESS REVENUES (EXPENDITURES)	
FUND BALANCE	-	Beginning	
FUND BALANCE	-	Ending	

ROLLING OAKS

COMMUNITY DEVELOPMENT DISTRICT

DEBT SERVICE FUND

Statement of Revenues & Expenditures

For The Period Ending July 31, 2018

ADOPTED	PRORATED BUDGET

BUDGET	7/31/18

$1,124,300	$450,378

$0	$0

$0	$0

$1,124,300	$450,378

$450,378	$450,378	
$0	$0	
$450,378	$450,378	
$0	$0	
$900,756	$900,756	
$223,544		
$451,515		
$675,058		

ACTUAL		
7/31/18	VARIANCE	
$450,378	$0	
$12,868	$12,868	
$17,336	$17,336	
$480,581	$30,203	

$450,378	$0	
$0	$0	
$450,378	$0	
$10,456	($10,456)	
$911,212	($10,456)	
($430,631)		
$1,581,968		
$1,151,338		

3

REVENUES:			
INTEREST			
TRANSFER IN			
TOTAL REVENUES		
EXPENDITURES:			
Serles 2016			
CAPITAL OUTLAY -	CONSTRUCTION	
CAPITAL OUTLAY -	COSTS OF ISSUANCE	
TRANSFER OUT			
TOTAL EXPENDITURES	
EXCESS REVENUES	(EXPENDITURES)	
FUND BALANCE	- Beginning	
FUND BALANCE	- Ending	

ROLLING OAKS

COMMUNITY DEVELOPMENT DISTRICT

CAPITAL PROJECTS FUND

Statement of Revenues & Expenditures

For The Period Ending July 31, 2018

ADOPTED	PRORATED BUDGET

BUDGET	7/31/18

$0	$0

$0	$0

$0	$0

$0	$0	
$0	$0	
$0	$0	
$0	$0	
$0		
$0		
$0		

ACTUAL		
7/31/18	VARIANCE	
$14,405	$14,405	
$10,456	$10,456	
$24,861	$24,861	

$13,193,250	($13,193,250)	
$0	$0	
$17,336	($17,336)	
$13,210,585	{$13,210,585)	
($13,185,725)		
$13,307,566		
$121,841		

4

			Oct		
REVENUES:					
DEVELOPER CONTRIBUTIONS/ASSESSMENTS	$14,542		
TOTAL REVENUES		I	$14,542		
					
EXPENDITURES:					
ADMINISTRATIVE:				
SUPERVISOR FEES		$800		
FICA EXPENSE			$61		
ENGINEERING			$0		
ATTORNEY			$1,600		
ARBITRAGE			$0		
DISSEMINATION		$292		
ASSESSMENT ADMINISTRATION		$0		
ANNUAL AUDIT			so		
					
TRUSTEE FEES			$0		
MANAGEMENT	FEES		$2,917		
INFORMATION TECHNOLOGY		$SO		
TELEPHONE			$0		
POSTAGE			$87		
INSURANCE			$5,750		
PRINTING & BINDING		$58		
LEGAL ADVERTISING		$0		
OTHER CURRENT CHARGES		$4,500		
OFFICE SUPPLIES		$28		
DUES, LICENSES	& SUBSCRIPTIONS		$175		
TOTAL EXPENDITURES	I	~16,3_!7		
EXCESS REVENUES (EXPENDITURES)	I	($1,775)		

Nov

$6,534

S6,S34

$0

$0

$0

$1,675

$0

$292

$0

$0

$0

$2,917

$50

$0

$5

$0

$40

$763

$0

$18

$0

$5,759

$775

Dec

$6,229

$6,229

$0

$0

$0

$2,963

$0

$292

$0

$0

$0

$2,917

$50

$0

$0

$0

$7

$0

$0

$0

$0

$6,~

!SO!

	ROLLING	OAKS						
Community Development District					
Jan	Feb	March	April	May	June	July		
								
$6,228	$5,458	$6,085	$3,889	$4,656	$3,869	$8,151		
								
~6,228	S5,458	$6,085	53,889	~.656	53,869	~.151		
$1,800	$0	$0	$0	$1,000	$1,000	$0		
$138	$0	$0	so	$77	$77	so		
so	$0	$0	$0	$0	so	$0		
								
$2,048	$1,020	$2,714	$630	$225	$554	$350		
$0	$0	$0	$0	$0	$0	$0		
$292	$292	$292	$292	$292	$292	$292		
$0	$0	$0	$0	$0	$0	$0		
$0	$0	so	$0	$0	$0	$4,500		
$0	$0	$0	$0	$0	$0	$0		
$2,917	$2,917	$2,917	$2,917	$2,917	$2,917	$2,917		
$SO	$50	$50	$SO	$50	$50	$50		
$0	$0	$6	$0	$0	$0	$0		
$60	$36	$16	$0	$83	$70	$2		
$0	$0	$0	$0	so	$0	$0		
								
$0	$47	$70	$0	$14	$32	$21		
so	$0	$0	$0	$0	$405	$0		
$0	$0	$0	$0	$0	$0	$2		
$0	$21	$20	$0	$0	$18	$18		
$0	$0	$0	$0	$0	$0	$0		
$7,305	$4,382	$6,085	$3,889	$4,656	$5,414	$8,151		
($1,077)	$1,077	$0	$0	$0	($1,545)	$0		

Aug

$0

$0

$0
so

$0

$0

$0

$0

$0
so

so

$0

$0

$0

$0
so

$0

$0

$0

$0

$0

$0

$0

Sept	Total

$0	$65,641			
$0	$65,641	I		
$0	$4,600			
$0	$352			
$0	$0			
$0	$13,780			
$0	$0			
$0	$2,917			
$0	$0			
$0	$4,500			
$0	$0			
$0	$29,167			
$0	$500			
$0	$6			
$0	$361			
$0	$5,750			
$0	$287			
so	$1,168			
$0	$4,502			
$0	$122			
$0	$175			
$0	$~~		
				
$0	($2,545)1			

5

ROLLING OAKS

Community Development District

Developer Contributions/Due from Developer

Funding	Prepared

Request	Date

#

Payment

Received

Date

Check

Amount

Total	General	General	General		
Funding					
	Fund	Fund	Fund		
Request	Portion (16)	Portion (17)	Portion (18)		

Due

from

Capital

OVerand

(short)

Balance Due

12	8/8/16	
13	8/30/16	
14	9/30/16	
1	10/26/16	
2	11/30/16	
3	12/19/16	
4	1/31/17	
5	2/28/17	
6	3/24/17	
7	4/28/17	
8	5/31/17	
9	6/20/17	
10	7/5/17	
11	8/25/17	
12	9/25/17	
1	10/5/17	
2	12/5/17	
3	12/21/18	
4	1/29/18	
5	2/14/18	
6	3/26/18	
7	4/25/18	
8	5/31/18	
9	6/25/18	
10	7/27/18	

9/8/16

9/22/16

12/23/16

12/23/16

12/29/16

12/23/16

3/6/17

3/6/17

4/11/17

5/18/17

6/13/17

7/6/17

7/15/17

10/16/17

10/4/17

11/15/17

1/5/18

1/5/18

2/26/18

3/5/18

5/24/18

5/10/18

6/13/18

$

$
$

$

$

$

$
$
$
s
$

$

$

$

$

$

$
$

$
$
$
s
$

14,888.25	$	
1,902.14	$	
6,196.79	$	
3,956.23	$	
8,698.67	$	
3,064.86	$	
4,403.35	$	
14,312.74	$	
5,730.29	$	
3,382.97	$	
4,244.75	$	
4,445.34	$	
3,913.35	$	
9,380.03	$	
5,087.53	$	
3,557.28	$	
5,599.29	$	
6,478.11	$	
9,190.96	$	
4,438.29	$	
7,105.37	$	
3,888.84	$	
4,656.07	$	
	$	
	$	

14,888.25

1,902.14

6,196.79

3,956.23

8,698.67

3,064.86

4,403.35

14,312.74

5,730.29

3,382.97

4,244.75

4,445.34

3,913.35

9,380.03

5,087.53

3,557.28

5,599.29

6,478.11

9,190.96

4,438.29

7,105.37

3,888.84

4,656.07

6,814.48

8,705.49

$

$

$

$

$

$

$

$

$

$

$

$

$
$

$

$

$

$
$

$

$
$
$

$
$

9,635.25

1,902.14

6,196.79

674.25

$

$
$

$

$
$

$
$

$

$

$

$

$
$
s
$
$
s
$
$

$
$
$

$

$

5,253.00

3,281.98

8,698.67

3,064.86

4,403.35

14,312.74

5,730.29

3,382.97

4,244.75

4,445.34

3,913.35

3,630.03

5,087.53

207.10

336.25

$

$
$
$

$
$

$
$

$

$

$

$

$

$
$

$

$

$
$

$
$

$
$

$
$

5,750.00

3,350.18

5,263.04

6,478.11

9,190.96

4,438.29

7,105.37

3,888.84

4,656.07

6,814.48

8,705.49

$

$
$

$

$
$

$
$
$
s
$

$

$
$

$
$

$

$
$

$
$

$
$

$
$

$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$		
$	6,814.48	
$	8,705.49	

j Due from Developer

Total Developer Contributions FV18

$

138,521.50	$	
	$	

154,041.47	$	18,408.43	$	69,992.21	$	65,640.83	$	
65,640.83								

$	15,519.97	

•FV16	column does not indude Funding Requests #1-11.	

6

ROLLING

OAKS

COMMUNITY

DEVELOPMENT

DISTRICT

LONG

TERM

DEBT

REPORT

SERIES

2016,

SPECIAL

ASSESSMENT

BONDS

INTEREST RATES:

MATURITY DATE:

RESERVE FUND DEFINITION

RESERVE FUND REQUIREMENT

RESERVE FUND BALANCE

4.500%, 5.250%, 5.875%, 6.000%

11/1/2047

MAXIMUM ANNUAL DEBT SERVICE

$1,124,706

$1,130,615

BONDS

OUTSTANDING

- 12/15/16

$15,640,000

CURRENT

BONDS

OUTSTANDING

$15,640,000

7

Rolling Oaks

COMMUNITY

DEVELOPMENT

DISTRICT

DIRECT

ASSESSMENT

RECEIPTS

-

FY2018

ROLLING

OAKS

SPLENDID

LLC

$1,120,756.00	$0.00	$1,120,756.00	

DATE

RECEIVED

4/6/18

DUE

DATE

4/1/18

10/1/18

CHECK

NO.

2230

NET	AMOUNT	GENERAL	SERIES	
ASSESSED	RECEIVED	FUND	2016	
$450,378.00	$450,378.00	$0.00	$450,378.00	
$670,378.00	$0.00	$0.00	$0.00	
$1,120,756.00	$450,378.00	$0.00	$450,378.00	

8

Rolling Oaks

Community Development District

Special Assessment Bonds, Series 2016

Date	Requisition #	
Fiscal Year 2017		
7/11/17		
Fiscal Year 2017		
12/1/16	Interest	
1/1/17	Interest	
2/ 1/17	Interest	
3/1/17	Interest	
4/1/17	Interest	
5/1/17	Interest	
6/1/17	Interest	
7/1/17	Interest	
8/1/17	Interest	
9/1/17	Interest	

Contractor	Description

GMS-CF,U.C	lnvoice#29 - FY2017 Construction Accounting

TOTAL

TOTAL

Acquisition/Construction Fund at 12/15/16

Interest Earned thru 9/30/17

Requisitions Paid thru 9/30/17

Remaining Acquisition/Construction Fund

Requisitions

$3,500	.00	
$3,500.00		

$0.	00	
$0		.	00	
$2,331 .71	
$4,531.59	
$5,678	.82	
$6,488	.93	
$7,085		.26	
$8,081.42	
$9,586	.41	
$9 956	.28	
$53,740.42		
$13,240,079.92	
$53,740.42	
($3,500.00)	
$13,290,320.34	

Date		Requisition#	
Fiscal Year	2018		
11/10/17	2	

Rolling

Contractor

Oaks Splendid,

TOTAL

LLC

Description	Requisitions

Completion of Roadway, Drainage, and Utility Infrastructure	$1 3,193,249.89	
	$13,193,249.89	

Fiscal Year 2018

10/1/17
11/1/17
12/1/17
1/31/18
2/28/18
3/31/18
4/30/18
5/31/18
5/31/18
6/30/18
7/31/18

Interest
Interest
Interest
Interest
Interest
Interest
Interest
Interest
Excess Reserve
Interest
Interest

Transfer In

TOTAL

Acquisition/Construction Fund at 119/30/2017 Interest Earned and Transfer In thru 6/30/18 Requisitions Paid thru 6/30/18

Remaining Acquisition/Construction Fund

$10,212.06	
$3,048.46	
$85.93	
$100.50	
$112.15	
$105.23	
$129.82	
$140.72	
$10,455.68	
$166.54	
$171.28	
$24,728.	37	
$13,290,320.34	
$24,728.37	
($13,193,249.89)	
$121,798.82	

9

SECTION

2

Rolling Oaks		
Community Development District		
	Payee		
1	Governmental Management Services-CF, LLC		
			
	Inv# 44 - Management Fees - June 2018		
2	Regions		
	Inv# 59775 - FY17 Trustee Fees - October 2017		

FY18	Funding Request #9	
		June 25, 2018	
		General Fund	
		FY2018	
	$	3,314.48	
	$	3,500.00	

Please make check payable to:

Rolling Oaks Community Development District

1412 S. Narcoossee Road

St.Cloud, FL 34771

$	6,814.48	

Total:	$	6,814.48		
				
Wire funds to :				
Rolling Oaks				
Community Development District		
SunTrust Bank, NA				
ABA # 061000104				
Acct# 1000145156799				
Contact: Kelly Lawler				
Tel : (407) 237-1072				

GMS·CentralFlorida, LLC
1001 Bradford Way
Kingston, TN snss

BIi To:

Rolling Oaks COD

135 West Central Blvd.
SUlte320
Olando, FL 32801

Management Fees		Description		• S f3.	{		
	- June 2018	t	,  :,i	O		'3tf		
	Technology	-June	2018			~ '?>Sr		
Information								
Dissemination Agent Services - June	2018		•	3 ,J		
omce supplies						•	SI		
Postage							•	Lf- z..		
							• 4'2.-S		
Coples									

		Invoice		
	Invoice t:	44			
Invoice Date:	6/1/18		
Due Date:	611/18		
	Case:				
P.O. Number:				
REC'll	JUN O5	2018		
Hours/Qty	Rate		Amount		
					
	2,916.67		2,916.67		
	50.00		50.00		
	291.67		291.67		
	17.92				
			17.92		
	6.42		8.42		
	31.80		51.80		

Total	$3,314.48	
Payments/Credits	$0.00	

Balance Due	$3,314.48

REGIONS			
~	.	O't,		
	~ SDV.tCB8			
A.."'TH~ .~	n:nrr			
1)5  11..  ~ BOULBVUD#  sctn :too		
<>a&,AIIIX).   ft.	3:l.8.81			

	1nvcic:el:	59'775	
C01ttORA'1'BnUsT	OPDATums	
·201	Mn.AN ~Y,	,2ND	FLOOJi	
	9l11MJIIIGHM,Ab	3$211	
		10/30/201'1	

u,

·~liXMQ  au• c~rr ~		
1) ~	(o.sc.B:QLA  OOV.lffY,	"4flll).I.)		
				
I~ .		SBUU		
~llllllff B011DS,			
a:OlS BX  .t  1170			

REC'D

JUN

13

2018

P-leue remit the  foil.owing

c:wtt~ o:r f!S:CrOil ~t  ,
. , _ 4u• alt.~.r:  60 •4-1$ Id ll

for	Truatee,	Paying Agent:,	Roga~ar#	
.-..	~-.pent	dU  by	l.2/15/3017.	:mvoicea	
inc:w:  ~ 1. !U;  late	fee..			
				$		

$

i.s~a.oo

,1ease ~yi.Jlg

mail	payment. wit;})  •   cqpy	ot  this	lQVOice -'to the	address		
by  w~e.		pJ.ease. ~i~-	to	tbe ·foll~uw 1			
	mt	:.21-oQo~♦s						
	lllt\llo	i'lll'l!Q						
	~	~020051)63'1'788					
	&ecouat  N.-,  im	Prive.~• ,-a	ro A.CF. a.gt-. knk•		
	For	Fu:£"t.1Jer  ~t  A/Cl G.067~8			
									
	R.efttranff  Invoice	#	59'1i5				

above-.

1f

PleASCt

c.onti&Ot

Janet..

R

iClil'C'do

at

90•·998;..4Hi

vi,.~

qU--Jt:.ians

~

C'O@~ti\1.

Tbank

y,:,u

for

ch~si,ng

Reg.$.o.n•

Bank.

1'1e

-appt:eciate

your

l;>u.$ineQ.

SECTION

3

Rolling Oaks

Community Development District

	Payee		
1	Governmental Management Services-CF, LLC		
			
	Inv# 45 - Management Fees - July 2018		
2	McDirmit Davis		
	Inv# 38091 - FYl 7 Audit Fees - July 2018		

3	Straley Robin Vericker

	Inv# 15908 - General Counsel - June 2018 Inv# 15940 - General Counsel - July 2018

FY18 Funding Request #10	
	July 27, 2018	
	General Fund	
	FY2018	
$	3,301.04	
$	4,500.00	
$	554.45	
$	350.00	
$	8,705.49	

Please make check payable to:

Rolling Oaks Community Development District 1412 S. Narcoossee Road St.Cloud, FL 34771

Total:	$	8,705.49		
				
Wire funds to:				
Rolling Oaks				
Community Development District		
SunTrust Bank, NA				
ABA # 061000104				
Acct# 1000145156799				
Contact: Kelly Lawler				
Tel: (407) 237-1072				

GMS-Central Florida, LLC
1001 Bradford Way
Kingston, TN 37763

Bill To:

Rolling Oaks COD
135 West Central Blvd.
Suite 320
Orlando, FL 32801

	DNCrlptlon			/	
ManagementFees	~J1,11y2018	1'510•S-f~	·	J 'f:.	
Information Tedmotogy  - Jufo/ 2018		•	'>L	
Dlsumlnatton Agent Services -	July 2018		•	,3.!J	
01b Supplte&				- ~	
, Postage				·Lf .	
. Coples			•		
._American Expren	C'-tges			• q.'}	
Ot!j -rrqc 'bit--Qe.s					

	Invoice	
Invoice#:	45	
Invoice Date:	712/18	
Due Date:	7/2/18	
Cue:		
P.o. Number:		
REC'DJUL O5	2018	
Houra/Qty	Amount	
2,918.87	2,916.67	
50.00	50.00	
291,67	291.87	
17.71	17.71	
2.38	2.36	
20.55	20.55	
2.08	2.08	

Total	$3,301.04	
Payments/Credits	$0.00	

Balance

Due

$3,301.04

. .
MCDIRMIT Ill DAVIS
CERTIFIED PUBLIC ACCOUNTANTS AND ADVISORS
934 N. Magnolia Ave.
Suite 100
Orlando, FL 32803

ECEIVE/?		
	JUL O9	2018	!I:.		
l,			~/ ;:		
					
~			2		

(407)	843-5406

	www.mcdinnitdavls.com

ROLLING OAKS COD

1412 SOUTH NARCOOSEE ST. CLOUD, FL 34n1

RD

Date:

Invoice
Client:

Number:

G/M018)
~ottj"
29S7~[o

Accounting services financial statements

rendered in connection with the preparation and issuance of for ROLLING OAKS CDD for the year ended September 30,

audited 2017.

$4,500.00

f'.y

\7

(;...,,,ff,

r:-~

Total

Due

This

	----		·--..		
·'	_..,...	...,		
..			j		
lnvoic~	$4,500.00				

Thank

yau

for

your

business.

Straley Robin Vericker

1510 W. Cleveland Street

Tampa~ FL 33606

Telephone (813) 223-9400 * Facsimile (813) 223-5043

Federal Tax ld. - 20-1778458

4//

Rolling Oaks Community Development Disrict clo Govemmental Management Services 1412 S . Narcoosee Road
St. Cloud, FL 34771

1Bl~~ll;l1~~,

i	,1,_ _ o2 201a	IID

BY:-------------

✓.--'	2018	·,			
'--June27,					
client:	•-····001455		
Matter:		OO0Q01	·~>		
Invoice#:	,:	tsfoa			
		-	..........~	....		
Page:			1			

RE: General	I#-; ,.	I$.  :;,~		
				
For Professional Services Rendered Through  June 15, 2018		

SERVICES

Date

6/11/2018

6/12/2018

6/12/2018

6/1412018

Person	Description of Services	
LB	REVIEW AUDITOR REQUEST LETTER FOR FISCAL	
	YEAR ENDED SEPTEMBER 30, 2017; PREPARE DRAFT	
	AUDIT RESPONSE LETTER RE SAME.	
TJR	REVIEW AUDIT REQUEST LETTER; FINALIZE AUDIT	
	RESPONSE LETTER.		
LB	PREPARE EMAIL TO	AUDITOR TRANSMITTING AUDIT	
	RESPONSE LETTER	FOR FISCAL YEAR ENDED	
	SEPTEMBER 30, 2017.	
VKB	TELECONFERENCE WITH G. FLINT RE: BOARD	
	MEETING AND 0/M BUDGET AND METHDOLOGY;	
	P..BEf?ARE FOR AND AITEND BOARP ~EIING AND	
	AUDIT COMMITTEE M°EETING; TELECONFERNCE	
	WITH G. FLINT RE: AUDIT COMMITTEE FOLLOW UP	
	QUESTION.		
		Total Professional Service$	

Hours

0.5

0.8

0 .1

0.8

2.2

$554.00

PeRSON RE.CAP			
Person		Hours		
				
TJR	Tra.cyJ. Robln	0.8		
				
VKB	V1Vek K. Babbar	0.8		
LB	Lynn Butler	0.6		

Amount

$264.00

$200.00

$90.00

DISBURSEMENTS				
Date	Description of Disbursements		
			
6/15/2018	Photocopies (3	@	$0.15)		

Total Disbursements

Total Services

Total Disbu~ments

Total Current Charges

PAY THIS AMOUNT

June 27,	2018		
Client:		001455	
Matter.		000001	
Invoice #:	15908	
Page:		2	

Amount

$0.45

$0.45

$554.00

$0.45

$554.45

Please Include Invoice Number on all Corrupondence

Straley Robin Vericker		
1510 W. Cleveland Street		
Tampa,	FL 33606		
Telephone (813) 223-9400	"' Facsimile (813)	223-5043	
Federal Tax Id. - 20-1778458		

1~:~~!fl B'V:------------·..

Rolling Oaks	Development Disrict			
Community				
c/o Governmental Management Services			
1412 S. Narcoosee Road				
St. Cloud, FL 34771				
RE: General				
For	Rendered Through July 15,	2018		
Professional Services				

July 18,	2018			
Client:		001455		
Matter:		000001		
Invoice#:	15940		
Page:		1		

SER~tqes		
Oate	Person	
8/22f2018	VKB	
6/25/2018	VKB	
6/26/2018	VKB	

Description of Services				
TELECONFERENCE WITH P. BROWN RE: SIGNAGE		
PROGRAM AND COD PROPERTY.	·•		
REVIEW AND REVISE DRAFT				
AUDIT; DRAFT EMAIL		
RE:SAME.				
TELECONFERENCE WITH P. BROWN RE: LETTER OF		
AUTHORIZATION RE: SIGNAGE PROGRAM AND COD		
PROPERTY;				
REVIEW EMAIL RE: SAME.			
Total	Professional Services		

Hours			
0.2			
1.1			
0.1			
1.4	$350.00		

PERSON RECAP			
Person		Hours		
VKB	Vivek K. Babbar			
		1.4		

Amount

$350.00

Total Services

Total Di$bursements

Total Current Charges

PAY THIS AMOUNT

July 18, 2018		
Client:		001455	
Matter:	000001	
Invoice#:.	15940	
Page:		2	
$350.00		
$0.	00		
		$350.00	
		$360.08	

Please Include Invoice Number on

all

Conespondence

SECTION

4

NOTICE OF MEETING DATES

ROLLING OAKS

COMMUNITY

DEVELOPMENT DISTRICT

The Board

of Supervisors of the

Rolling Oaks

Com111unity

Development

District

will

hold

their regularly scheduled

public

meetings

for

Fiscal Year

2019

at

12:00  pm	at	the  Heritage  Crossing		
Crossing Way,	Reunion, Florida 34747,		
follows:				

Community

on the second

Center,

Thursday

7715	Heritage

of each month as

October 11, 2018

November 8, 2018

December 13, 2018

January 10, 2019
February 14, 2019
March 14, 2019

April 11, 2019
May 9, 2019

June 13, 2019
July 11, 2019

August 8, 2019

September 12, 2019

The	meetings	are  open	to	the public and will be	conducted	in	accordance	
provisions	of Florida	Law for	Community  Development	Districts.	A	copy  of the	
agenda may be obtained from the	District Manager at 135 W. Central Blvd., Suite 320,	
FL 32801.								

with the meeting Orlando,

The meeting may be continued to a date, time, and	
majority  of  Board  Members	participating.  There	may	
Supervisors will participate by telephone.		

place as evidenced by be occasions when

motion one or

of the more

Any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Office at (407) 841-5524 at least forty-eight (48)
hours prior to the meeting.	If you are hearing or speech impaired, please contact the Florida

Relay Service 1-800-955-8770, for

aid

in

contacting

the District Office.

Each person who decides to appeal any action taken person will need a record of the proceedings and that to ensure that a verbatim record of the proceedings and evidence upon which such appeal is to be based.

at these meetings is advised that		
accordingly,	the	person may need		
				
is	made, including the testimony		

George S. Flint

Governmental Management Services -

District Manager

Central

Florida, LLC