Rolling Oaks Community Development District
Agenda August 24, 2023

Board of Supervisors Meeting

Rolling Oaks
Community Development District

219 East Livingston Street, Orlando, Florida 32801 Phone: 407-841-5524 – Fax: 407-839-1526

August 21, 2023
Board of Supervisors Rolling Oaks Community Development District

Dear Board Members:

The meeting of the Board of Supervisors of Rolling Oaks Community Development District will be held Thursday, August 24, 2023, at 1:00 PM at Margaritaville Resort Orlando, 8000 Fins Up Circle, Kissimmee, Florida 34747. Following is the revised agenda for the meeting:

Board of Supervisors Meeting
Roll Call
Public Comment Period
Approval of Minutes of the May 25, 2023 Meeting
Discussion of Virtual Meeting Attendance
Public Hearing
Consideration of Resolution 2023-10 Adopting the Fiscal Year 2024 Budget and Relating to the Annual Appropriations
Consideration of Resolution 2023-11 Imposing Special Assessments and Certifying an Assessment Roll
Review and Acceptance of Annual Engineer’s Report
Approval of Drainage Fee Agreement with Reedy Creek – ADDED
Appointment of Audit Committee
Staff Reports
Attorney
Engineer
District Manager’s Report
Approval of Check Register
Balance Sheet and Income Statement
Approval of Fiscal Year 2024 Meeting Schedule
Supervisor’s Requests
Next Meeting Date – September 28, 2023
Adjournment

Audit Committee Meeting
Roll Call
Public Comment Period
Audit Services
Approval of Request for Proposals and Selection Criteria
Approval of Notice of Request for Proposals for Audit Services
Public Announcement of Opportunity to Provide Audit Services
Adjournment

Minutes

MINUTES OF MEETING ROLLING OAKS
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Rolling Oaks Community Development District was held Thursday, May 25, 2023 at 1:00 p.m. at the Margaritaville Resort Orlando, 8000 Fins Up Circle, Kissimmee, Florida.

Present and constituting a quorum were:

John Chiste	Chairman
Jared Bouskila by phone	Vice Chairman
Cora DiFiore by phone	Assistant Secretary
Peter Brown	Assistant Secretary
Steven Dougherty	Assistant Secretary Also present were:
George Flint	District Manager
Vivek Babbar by phone	District Attorney
Dave Schmitt by phone	District Engineer

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.

THIRD ORDER OF BUSINESS	Approval of the Minutes of the March 23,
2023 Meeting

On MOTION by Mr. Chiste seconded by Mr. Dougherty with all in favor the minutes of the March 23, 2023 meeting were approved as presented.

May 25, 2023	Rolling Oaks CDD

FOURTH ORDER OF BUSINESS	Consideration	of	Resolution	2023-06
Approving the Proposed Fiscal Year 2024 Budget and Setting a Public Hearing
Mr. Flint stated Resolution 2023-06 approves the Fiscal Year 2024 budget and sets the public hearing for August 24, 2023 for its final consideration. Attached as Exhibit A is the proposed budget, it is not binding, the board can make changes to this between now and at the public hearing if needed. We have made an effort to incorporate what we believe to be the buildout costs for the remaining phases in the current district and we also included all the units as being assessed. The result of that is that there is a proposed increase for a single-family home from $532 per year to $638.40. That is the gross amount that would be on the tax bill. That is about $106 increase for a single-family home, $85 for a condo and $53 for an apartment.

On MOTION by Mr. Chiste seconded by Mr. Dougherty with all in favor Resolution 2023-06 approving the proposed fiscal year 2024 budget and setting the public hearing for August 24, 2023 was approved.

Mr. Flint stated we will have to do a mailed notice to all the landowners letting them know of the proposed increase and the date, place and time of the public hearing. We could have some participation at the hearing.

FIFTH ORDER OF BUSINESS	Consideration	of	Resolution	2023-07
Establishing Bank Account Signatories
Mr. Flint stated Resolution 2023-07 designates signors. It is not changing who is signing on the current accounts, it is just documenting that the secretary, treasurer and assistant treasurer are authorized to be signors on the district’s operating account. I am the secretary; Jill Burns is the treasurer and the Katie Costa is the accountant and we are already signors.

On MOTION by Mr. Chiste seconded by Mr. Brown with all in favor Resolution 2023-07 Establishing Bank Account Signatories was approved.

May 25, 2023	Rolling Oaks CDD

SIXTH ORDER OF BUSINESS	Consideration	of	Resolution	2023-08
Appointing an Assistant Treasurer
Mr. Flint stated Resolution 2023-08 adds Darrin Mossing, the president of GMS as an assistant treasurer. It is a safety measure in case we have turnover in the accounting office, it provides a backstop on that.

On MOTION by Mr. Brown seconded by Mr. Chiste with all in favor Resolution 2023-08 appointing Darrin Mossing, Sr. as an assistant treasurer was approved.

SEVENTH ORDER OF BUSINESS	Consideration	of	Resolution	2023-09
Authorizing the Use of Electronic Documents and Signatures
Mr. Flint stated Resolution 2023-09 allows us to use DocuSign to sign most of the district’s documents in lieu of hard copies. There are still some documents that need wet signatures. This will allow us to email resolutions and agreements to the chair and he can sign electronically.

On MOTION by Mr. Chiste seconded by Mr. Dougherty with all in favor Resolution 2023-09 was approved.

EIGHTH ORDER OF BUSINESS	Staff Reports
Attorney
There being none, the next item followed.

Engineer
Mr. Schmitt asked if there is an upcoming annual report due soon.
Mr. Flint stated there is a report under the trust indenture that is required to be done annually. It is usually just a one-page letter report. Someone from my office should have contacted you. I will get with you after the meeting and get you the email.
Mr. Schmitt stated I think our contract number is up. Do I just send you one to renew?
Mr. Flint stated the contract for district engineering services is typically an ongoing contract.

May 25, 2023	Rolling Oaks CDD

Manager
Approval of Check Register

On MOTION by Mr. Chiste seconded by Mr. Brown with all in favor the check register was approved.

Balance Sheet and Income Statement
A copy of the balance sheet and income statement were included in the agenda package.

Presentation of Number of Registered Voters: 81
A copy of the letter from the supervisor of elections indicating that there are 81 registered voters residing within the district was included in the agenda package.

Reminder of Form 1 Filing Requirement Deadline: July 1st
Mr. Flint stated this is a reminder that the supervisor of elections will be mailing you the form 1 that has to be filed by July 1. Keep an eye out for that. You don’t have to file multiple ones if you are on more than one board, you can just attach a list or include the names at the top of one form.

NINTH ORDER OF BUSINESS	Supervisor’s Requests
There being none, the next item followed.

TENTH ORDER OF BUSINESS	Next Meeting Date – June 22, 2023
Mr. Flint stated the next meeting will be held June 22, 2023. If we don’t have anything I will touch base with the chair otherwise we have the budget hearing at your August meeting.

ELEVENTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Chiste seconded by Mr. Dougherty with all in favor the meeting adjourned at 1:13 p.m.

Secretary/Assistant Secretary	Chairman/Vice Chairman

Section IV

Section A

RESOLUTION 2023-10

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT ADOPTING A BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2023, AND ENDING SEPTEMBER 30, 2024; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager submitted, prior to June 15th, to the Board of Supervisors (“Board”) of the Rolling Oaks Community Development District (“District”) a proposed budget for the next ensuing budget year (“Proposed Budget”), along with an explanatory and complete financial plan for each fund, pursuant to the provisions of Sections 189.016(3) and 190.008(2)(a), Florida Statutes;

WHEREAS, the District filed a copy of the Proposed Budget with the local governing authorities having jurisdiction over the area included in the District at least 60 days prior to the adoption of the Proposed Budget pursuant to the provisions of Section 190.008(2)(b), Florida Statutes;

WHEREAS, the Board held a duly noticed public hearing pursuant to Section 190.008(2)(a), Florida Statutes;

WHEREAS, the District Manager posted the Proposed Budget on the District’s website at least 2 days before the public hearing pursuant to Section 189.016(4), Florida Statutes;

WHEREAS, the Board is required to adopt a resolution approving 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 pursuant to Section 190.008(2)(a), Florida Statutes; and

WHEREAS, the Proposed Budget projects 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 BY THE BOARD:

Section 1. Budget

That the Board has reviewed the Proposed Budget, a copy of which is on file with the office of the District Manager and at the District’s records office, and hereby approves certain amendments thereto, as shown below.

That the Proposed Budget as amended by the Board attached hereto as Exhibit A, 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 2022-2023 and/or revised projections for fiscal year 2023-2024.

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, 2023, and Ending September 30, 2024.”

The final adopted budget shall be posted by the District Manager on the District’s website within 30 days after adoption pursuant to Section 189.016(4), Florida Statutes.

Section 2. Appropriations. There is hereby appropriated out of the revenues of the District (the sources of the revenues will be provided for in a separate resolution), for the fiscal year beginning  October  1,  2023,  and  ending  September  30,  2024,  the  sum  of
$	, which sum is deemed by the Board 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	$	

Total Reserve Fund [if Applicable]	$	

Total Debt Service Funds	$	

Total All Funds*	$	

*Not inclusive of any collection costs or early payment discounts.

Section 3. Budget Amendments. Pursuant to Section 189.016(6), Florida Statutes, the District at any time within the fiscal year or within 60 days following the end of the fiscal year may amend its budget for that fiscal year as follows:

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 increase and if the aggregate change in the original appropriation item does not exceed $10,000 or 10% of the original appropriation.

Any other budget amendments shall be adopted by resolution and be consistent with Florida law. This includes increasing any appropriation item and/or fund to reflect receipt of any additional unbudgeted monies and making the corresponding change to appropriations or the unappropriated balance.

The District Manager or Treasurer must establish administrative procedures to ensure that any budget amendments are in compliance with this section and Section 189.016, Florida Statutes, among other applicable laws. Among other procedures, the District Manager or Treasurer must ensure that any amendments to budget(s) under subparagraph c. above are posted on the District’s website within 5 days after adoption pursuant to Section 189.016(7), Florida Statutes.

Section 4. Effective Date. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board.

Passed and Adopted on August 24, 2023.

Attested By:

Rolling Oaks Community Development District

 	

Print Name:	 Secretary/Assistant Secretary

Print Name:	 Chair/Vice Chair of the Board of Supervisors

Exhibit A: FY 2023-2024 Adopted Budget

Rolling Oaks
Community Development District

Proposed Budget
FY2024

6M3

Table of Contents

1-2	General Fund	

3-6	

General Fund Narrative	

7	

Series 2016 Debt Service Fund	

8	

Series 2016 Amortization Schedule	

9	

Series 2018 Debt Service Fund	

10	

Series 2018 Amortization Schedule	

11	

Series 2022 Debt Service Fund	

12 - 13	

Series 2022 Amortization Schedule	

Rolling Oaks
Community Development District Proposed Budget
General Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	6/30/23	3 Months	9/30/23	FY2024	

Revenues						
Assessments	$539,586	$513,642	$25,944	$539,586	$813,131	
Developer Contributions	$45,457	$59,750	$3,185	$62,934	$0	
Total Revenues	$ 585,044	$	573,392	$	29,129	$	602,521	$	813,131	

Expenditures						
Administrative
Supervisor Fees	
$12,000	
$5,000	
$3,000	
$8,000	
$12,000	
FICA Expense	$918	$383	$230	$612	$918	
Engineering	$10,000	$700	$2,700	$3,400	$10,000	
Attorney	$15,000	$3,375	$1,125	$4,501	$15,000	
Arbitrage	$1,350	$900	$450	$1,350	$1,350	
Dissemination	$8,000	$5,833	$2,000	$7,833	$8,000	
Assessment Administration	$10,000	$10,000	$0	$10,000	$10,000	
Annual Audit	$3,675	$0	$3,675	$3,675	$5,000	
Trustee Fees	$11,041	$7,000	$4,041	$11,041	$11,041	
Management Fees	$37,853	$28,390	$9,463	$37,853	$40,124	
Information Technology	$1,000	$750	$250	$1,000	$1,250	
Website Maintenance	$594	$446	$148	$594	$743	
Telephone	$100	$0	$50	$50	$100	
Postage	$800	$231	$240	$471	$800	
Insurance	$7,686	$6,885	$0	$6,885	$7,918	
Printing & Binding	$800	$129	$165	$294	$800	
Legal Advertising	$2,000	$250	$1,750	$2,000	$2,000	
Other Current Charges	$2,000	$363	$121	$485	$2,000	
Office Supplies	$130	$3	$50	$53	$130	
Property Appraiser Fee	$300	$347	$0	$347	$350	
Property Taxes	$80	$10	$0	$10	$80	
Meeting Room	$1,674	$284	$425	$709	$1,701	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
 Administrative Expenditures	$ 127,176	$	71,454	$	29,883	$	101,337	$	131,480	

Rolling Oaks
Community Development District Proposed Budget
General Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	6/30/23	3 Months	9/30/23	FY2024	

Field Operations						
Property Insurance	$8,718	$7,889	$0	$7,889	$15,384	
Electric	$9,689	$8,517	$2,839	$11,357	$16,614	
Streetlights	$112,151	$79,127	$26,850	$105,977	$183,496	
Utilities- Water& Sewer	$85,000	$91,697	$33,136	$124,833	$172,192	
Landscape Maintenance	$113,400	$143,505	$28,350	$171,855	$173,088	
Landscape Enhancements	$50,000	$0	$0	$0	$50,000	
Landscape Irrigation	$6,500	$2,282	$1,902	$4,184	$6,500	
Lawn Mowing/Trimming	$27,720	$12,600	$8,800	$21,400	$12,000	
Lake Maintenance	$37,321	$33,621	$13,869	$47,490	$45,007	
Contingency	$7,370	$3,700	$2,500	$6,200	$7,370	
 Field Operations Expenditures	$ 457,868	$	382,938	$	118,246	$	501,184	$	681,652	
						
Total Expenditures	$ 585,044	$	454,392	$	148,129	$	602,521	$	813,131	
						
Excess Revenues/(Expenditures)	$	-	$	119,000	$	(119,000)	$	-	$	-	

FY2024	
				Net Assessments	$813,131	
Add: Discounts & Collections 		$51,902	 Gross Assessments 	$865,033	

Product	
ERU's	Assessable Units	
ERU/Unit	
Net Assessment  Net Per Unit	
Gross Per Unit	
Single Family	663.00	663	1.00	$397,864.32	$600.10	$638.40	
Condo	516.00	645	0.80	$309,650.06	$480.08	$510.72	
Apartment	176.00	352	0.50	$105,617.07	$300.05	$319.20	
	1355.00	1660		$813,131.45		

Product	FY2024 Gross Per Unit	FY2023 Gross Per Unit	
Increase			
Single Family	$638.40	$	532.00	$	106.40		
Condo	$510.72	$	425.60	$	85.12		
Apartment	$319.20	$	266.00	$	53.20		

Rolling Oaks
Community Development District
General Fund Budget

REVENUES:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the fiscal year.

EXPENDITURES:

Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to received $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from the Board of Supervisor checks.

Engineering

The District's engineer provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review of invoices and requisitions, preparation and review of contract specifications and bid documents, and various projects assigned as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel provides general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Series 2016, Series 2018, and Series 2022 Special Assessment Revenue Bonds.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues.

Assessment Administration

The District has contracted with Governmental Management Services-CF, LLC to levy and administer the collection of non- ad valorem assessment on all assessable property within the District.

Annual Audit

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

Trustee Fees

The District will pay annual trustee fees for the Series 2016, Series 2018, and Series 2022 Special Assessment Revenue

Rolling Oaks
Community Development District
General Fund Budget

Management Fees

The District has contracted with Governmental Management Services-Central Florida, LLC to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, budget preparation, all financial reporting, annual audit, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc

Website Maintenance

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc.

Telephone

Telephone and fax machine.

Postage

The District incurs charges for mailing of agenda packages, overnight deliveries, checks for vendors and other required correspondence.

Insurance

The District’s general liability and public officials liability insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Printing & Binding

Materials used for board meetings, printing of computerized checks, stationary, envelopes etc.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc in a newspaper of general circulation.

Other Current Charges

Represents any miscellaneous expenses incurred during the fiscal year such as bank fees, deposit slips, stop payments, etc.

Office Supplies

The District incurs charges for office supplies that need to be purchased during the fiscal year.

Property Appraiser

Represents a fee charged by Osceola County Property Appraiser’s office for assessment administration services.

Property Taxes

Represents a fee charged by the Osceola County Tax Collector’s Office for all assessable property within the District.

Rolling Oaks
Community Development District
General Fund Budget

Meeting Room

Represents the fee charged by Margaritaville Resort Orlando for room rental.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Field Operations:

Property Insurance

The District’s property insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Electric

Represents estimated costs for electrical accounts with Duke Energy for entrance lighting, irrigation meters and other District areas.

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Utilities – Water & Sewer

Represents estimated costs for water & sewer services with Toho Water Authority.

Landscape Maintenance

The District will incur monthly landscape expenses, which include mowing, edging, and string-trimming from Creative Landscaping.

Description	Monthly

Landscape Maintenance	$	12,924.00

Fertilization	Quarterly
$	9,000.00

Total	Annually

$ 155,088.00

$	18,000.00	
	$ 173,088.00	

Landscape Enhancements

Represents estimated costs for landscape enhancements from Creative North Landscaping.

Rolling Oaks
Community Development District
General Fund Budget

Landscape Irrigation

Represents estimated costs for any miscellaneous landscape irrigation repairs needed for the District from Creative Landscaping.

Lawn Mowing/Trimming

This represents the mowing of the Pond #4 banks. The District has contracted Lawnmasters Landscaping Of Orlando Inc.

Lake Maintenance

Solitude Lake Management Services will provide monthly aquatic management services for inspection and treatment of lakes throughout the District.

Description	Monthly
Maintenance	$	2,069.54
Midge Treatment	$	1,154.19

Quarterly
Lake Assessment	$	1,260.80

Semiannually
Aeration Maintenance	$	639.57

Total	Annually
$	24,834.45
$	13,850.30

$	5,043.21

$	1,279.14	
	$	45,007.10	

Contingency

Represents any additional field expense that may not have been provided for in the budget.

Rolling Oaks
Community Development District Proposed Budget
Debt Service Fund Series 2016

	Adopted Budget	Actuals Thru	Projected Next	Total Thru	Proposed Budget	
Description	FY2023	6/30/23	3 Months	9/30/23	FY2024	

Revenues						
Assessments - Tax Roll	$1,125,001	$1,138,780	$0	$1,138,780	$1,125,001	
Interest	$500	$54,112	$18,037	$72,149	$500	
Carry Forward Surplus	$810,612	$832,783	$0	$832,783	$921,703	
Total Revenues	$ 1,936,113	$ 2,025,675	$	18,037	$ 2,043,713	$ 2,047,205	

Expenditures						
Interest - 11/01	$429,116	$429,116	$0	$429,116	$	423,153	
Principal - 11/01	$265,000	$265,000	$0	$265,000	$	275,000	
Interest - 05/01	$423,153	$423,153	$0	$423,153	$	415,934	
Total Expenditures	$ 1,117,269	$ 1,117,269	$	-	$ 1,117,269	$ 1,114,088	

Other Financing Sources/(Uses)						
Transfer In(Out)	$0	($4,740)	$0	($4,740)	$0	
Total Other Financing Sources/(Uses)	$	-	$	(4,740)	$	-	$	(4,740)	$	-	
						
Excess Revenues/(Expenditures)	$	818,844	$	903,666	$	18,037	$	921,703	$	933,117	

Principal 11/1 $	290,000
Interest 11/1  $	415,934 
Total	 $	705,934 

Single Family
Less: Discount/Collection (6%)

500	$

2,393.62	$ 1,196,810.00

$

(71,808.60)

Net Annual Assessment	$	1,125,001

Unit Type	Units	Gross Per Unit	Total

Rolling Oaks Community Development District Series 2016 Special Assessment Bonds
Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

11/01/23	$	14,430,000.00	$	275	
05/01/24	$	14,155,000.00	$	
11/01/24	$	14,155,000.00	$	290	
05/01/25	$	13,865,000.00	$	
11/01/25	$	13,865,000.00	$	305	
05/01/26	$	13,560,000.00	$	
11/01/26	$	13,560,000.00	$	320	
05/01/27	$	13,240,000.00	$	
11/01/27	$	13,240,000.00	$	340	
05/01/28	$	12,900,000.00	$	
11/01/28	$	12,900,000.00	$	355	
05/01/29	$	12,545,000.00	$	
11/01/29	$	12,545,000.00	$	375	
05/01/30	$	12,170,000.00	$	
11/01/30	$	12,170,000.00	$	395	
05/01/31	$	11,775,000.00	$	
11/01/31	$	11,775,000.00	$	420	
05/01/32	$	11,355,000.00	$	
11/01/32	$	11,355,000.00	$	445	
05/01/33	$	10,910,000.00	$	
11/01/33	$	10,910,000.00	$	470	
05/01/34	$	10,440,000.00	$	
11/01/34	$	10,440,000.00	$	500	
05/01/35	$	9,940,000.00	$	
11/01/35	$	9,940,000.00	$	530	
05/01/36	$	9,410,000.00	$	
11/01/36	$	9,410,000.00	$	560	
05/01/37	$	8,850,000.00	$	
11/01/37	$	8,850,000.00	$	590	
05/01/38	$	8,260,000.00	$	
11/01/38	$	8,260,000.00	$	625	
05/01/39	$	7,635,000.00	$	
11/01/39	$	7,635,000.00	$	665	
05/01/40	$	6,970,000.00	$	
11/01/40	$	6,970,000.00	$	705	
05/01/41	$	6,265,000.00	$	
11/01/41	$	6,265,000.00	$	745	
05/01/42	$	5,520,000.00	$	
11/01/42	$	5,520,000.00	$	790	
05/01/43	$	4,730,000.00	$	
11/01/43	$	4,730,000.00	$	840	
05/01/44	$	3,890,000.00	$	
11/01/44	$	3,890,000.00	$	890	
05/01/45	$	3,000,000.00	$	
11/01/45	$	3,000,000.00	$	940	
05/01/46	$	2,060,000.00	$	
11/01/46	$	2,060,000.00	$	1,000	
05/01/47	$	1,060,000.00	$	
11/01/47	$	1,060,000.00	$	1,060	

$	423,153.13	$	1,121,306.25	
$	415,934.38		
$	415,934.38	$	1,121,868.75	
$	408,321.88		
$	408,321.88	$	1,121,643.75	
$	400,315.63		
$	400,315.63	$	1,120,631.25	
$	391,915.63		
$	391,915.63	$	1,123,831.25	
$	382,990.63		
$	382,990.63	$	1,120,981.25	
$	373,671.88		
$	373,671.88	$	1,122,343.75	
$	362,656.25		
$	362,656.25	$	1,120,312.50	
$	351,053.13		
$	351,053.13	$	1,122,106.25	
$	338,715.63		
$	338,715.63	$	1,122,431.25	
$	325,643.75		
$	325,643.75	$	1,121,287.50	
$	311,837.50		
$	311,837.50	$	1,123,675.00	
$	297,150.00		
$	297,150.00	$	1,124,300.00	
$	281,581.25		
$	281,581.25	$	1,123,162.50	
$	265,131.25		
$	265,131.25	$	1,120,262.50	
$	247,800.00		
$	247,800.00	$	1,120,600.00	
$	229,050.00		
$	229,050.00	$	1,123,100.00	
$	209,100.00		
$	209,100.00	$	1,123,200.00	
$	187,950.00		
$	187,950.00	$	1,120,900.00	
$	165,600.00		
$	165,600.00	$	1,121,200.00	
$	141,900.00		
$	141,900.00	$	1,123,800.00	
$	116,700.00		
$	116,700.00	$	1,123,400.00	
$	90,000.00		
$	90,000.00	$	1,120,000.00	
$	61,800.00		
$	61,800.00	$	1,123,600.00	
$	31,800.00		
$	31,800.00	$	1,123,600.00	

,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00

$	14,430,000.00	$	13,200,390.63	$	28,053,543.75

Rolling Oaks
Community Development District Proposed Budget
Debt Service Fund Series 2018

	Adopted Budget	Actuals Thru	Projected Next	Total Thru	Proposed Budget	
Description	FY2023	6/30/23	3 Months	9/30/23	FY2024	

Revenues						
Assessments	$899,947	$671,140	$228,807	$899,947	$899,947	
Interest	$500	$35,420	$17,710	$53,130	$500	
Carry Forward Surplus	$601,733	$606,679	$0	$606,679	$661,541	
Total Revenues	$ 1,502,180	$ 1,313,239	$	246,517	$ 1,559,756	$ 1,561,988	

Expenditures						
Interest - 11/01	$342,063	$342,063	$0	$342,063	$	337,359	
Principal - 11/01	$215,000	$215,000	$0	$215,000	$	225,000	
Interest - 05/01	$337,359	$337,359	$0	$337,359	$	332,438	
Total Expenditures	$	894,422	$	894,422	$	-	$	894,422	$	894,797	

Other Financing Sources/(Uses)						
Transfer In(Out)	$0	($3,793)	$0	($3,793)	$0	
Total Other Financing Sources/(Uses)	$	-	$	(3,793)	$	-	$	(3,793)	$	-	
						
Excess Revenues/(Expenditures)	$	607,758	$	415,024	$	246,517	$	661,541	$	667,192	

Principal 11/1 $	230,000
Interest 11/1  $	332,438 
Total	$	562,438

Unit Type	Units	Gross Per Unit	Total	
Single Family		163	$	2,393.62	$	390,159.65	
Condo		300	$	1,890.77	$	567,231.00	
Less: Discount/Collection (6%)			$	(57,443.44)	
Net Annual Assessment			$	899,947	

Rolling Oaks Community Development District Series 2018 Special Assessment Bonds
Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

11/01/23	$	12,545,000.00	$	225	
05/01/24	$	12,320,000.00	$	
11/01/24	$	12,320,000.00	$	230	
05/01/25	$	12,090,000.00	$	
11/01/25	$	12,090,000.00	$	245	
05/01/26	$	11,845,000.00	$	
11/01/26	$	11,845,000.00	$	255	
05/01/27	$	11,590,000.00	$	
11/01/27	$	11,590,000.00	$	270	
05/01/28	$	11,320,000.00	$	
11/01/28	$	11,320,000.00	$	280	
05/01/29	$	11,040,000.00	$	
11/01/29	$	11,040,000.00	$	295	
05/01/30	$	10,745,000.00	$	
11/01/30	$	10,745,000.00	$	310	
05/01/31	$	10,435,000.00	$	
11/01/31	$	10,435,000.00	$	325	
05/01/32	$	10,110,000.00	$	
11/01/32	$	10,110,000.00	$	345	
05/01/33	$	9,765,000.00	$	
11/01/33	$	9,765,000.00	$	365	
05/01/34	$	9,400,000.00	$	
11/01/34	$	9,400,000.00	$	385	
05/01/35	$	9,015,000.00	$	
11/01/35	$	9,015,000.00	$	405	
05/01/36	$	8,610,000.00	$	
11/01/36	$	8,610,000.00	$	425	
05/01/37	$	8,185,000.00	$	
11/01/37	$	8,185,000.00	$	450	
05/01/38	$	7,735,000.00	$	
11/01/38	$	7,735,000.00	$	475	
05/01/39	$	7,260,000.00	$	
11/01/39	$	7,260,000.00	$	500	
05/01/40	$	6,760,000.00	$	
11/01/40	$	6,760,000.00	$	525	
05/01/41	$	6,235,000.00	$	
11/01/41	$	6,235,000.00	$	555	
05/01/42	$	5,680,000.00	$	
11/01/42	$	5,680,000.00	$	585	
05/01/43	$	5,095,000.00	$	
11/01/43	$	5,095,000.00	$	615	
05/01/44	$	4,480,000.00	$	
11/01/44	$	4,480,000.00	$	650	
05/01/45	$	3,830,000.00	$	
11/01/45	$	3,830,000.00	$	685	
05/01/46	$	3,145,000.00	$	
11/01/46	$	3,145,000.00	$	725	
05/01/47	$	2,420,000.00	$	
11/01/47	$	2,420,000.00	$	765	
05/01/48	$	1,655,000.00	$	
11/01/48	$	1,655,000.00	$	805	
05/01/49	$	850,000.00	$	
11/01/49	$	850,000.00	$	850	

$	337,359.38	$	899,718.75	
$	332,437.50		
$	332,437.50	$	894,875.00	
$	326,831.25		
$	326,831.25	$	898,662.50	
$	320,859.38		
$	320,859.38	$	896,718.75	
$	314,643.75		
$	314,643.75	$	899,287.50	
$	308,062.50		
$	308,062.50	$	896,125.00	
$	301,237.50		
$	301,237.50	$	897,475.00	
$	293,309.38		
$	293,309.38	$	896,618.75	
$	284,978.13		
$	284,978.13	$	894,956.25	
$	276,243.75		
$	276,243.75	$	897,487.50	
$	266,971.88		
$	266,971.88	$	898,943.75	
$	257,162.50		
$	257,162.50	$	899,325.00	
$	246,815.63		
$	246,815.63	$	898,631.25	
$	235,931.25		
$	235,931.25	$	896,862.50	
$	224,509.38		
$	224,509.38	$	899,018.75	
$	212,415.63		
$	212,415.63	$	899,831.25	
$	199,650.00		
$	199,650.00	$	899,300.00	
$	185,900.00		
$	185,900.00	$	896,800.00	
$	171,462.50		
$	171,462.50	$	897,925.00	
$	156,200.00		
$	156,200.00	$	897,400.00	
$	140,112.50		
$	140,112.50	$	895,225.00	
$	123,200.00		
$	123,200.00	$	896,400.00	
$	105,325.00		
$	105,325.00	$	895,650.00	
$	86,487.50		
$	86,487.50	$	897,975.00	
$	66,550.00		
$	66,550.00	$	898,100.00	
$	45,512.50		
$	45,512.50	$	896,025.00	
$	23,375.00		
$	23,375.00	$	896,750.00	

,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00

$	12,545,000.00  $	11,349,728.13  $	24,232,087.50

Rolling Oaks
Community Development District Proposed Budget
Debt Service Fund Series 2022

		Proposed Budget	Actuals Thru	Projected Next	Total Thru	Proposed Budget	
	Description	FY2023	6/30/23	3 Months	9/30/23	FY2024	

Revenues							

Assessments	
$0	
$0	
$0	
$0	
$576,163	
Interest	$34,628	$23,085	$11,543	$34,628	$0	
Carry Forward Surplus	$0	$0	$0	$0	$269,953	
Total Revenues	$	34,628	$	23,085	$	11,543	$	34,628	$	846,116	

Expenditures						
Interest - 11/01	$0	$0	$0	$0	$242,247	
Principal - 11/01	$0	$0	$0	$0	$90,000	
Interest - 05/01	$213,985	$213,985	$0	$213,985	$242,247	
Total Expenditures	$	213,985	$	213,985	$	-	$	213,985	$	574,494	

Other Financing Sources/(Uses)						
Bond Proceeds	$1,032,394	$1,032,394	$0	$1,032,394	$0	
Transfer In(Out)	$0	$4	$0	$4	$0	

Total Other Financing Sources/(Uses)	$ 1,032,394	$ 1,032,398	$	-	
$ 1,032,398	
$	-	
Excess Revenues/(Expenditures)	$	853,037	$	841,498	$	11,543	$	853,041	$	271,622	

Interest 11/1  $	239,716

Unit Type	Units	Gross Per Unit	Total	
Condo		345	$	1,777.64	$	612,939	
Less: Discount/Collection (6%)			$	36,776	
Net Annual Assessment			$	576,163	

Rolling Oaks Community Development District Series 2022 Special Assessment Bonds
Amortization Schedule

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

05/01/23	$	7,635,000.00	$	
11/01/23	$	7,635,000.00	$	
05/01/24	$	7,635,000.00	$	90	
11/01/24	$	7,545,000.00	$	
05/01/25	$	7,545,000.00	$	95	
11/01/25	$	7,000,000.00	$	
05/01/26	$	7,000,000.00	$	105	
11/01/26	$	7,000,000.00	$	
05/01/27	$	7,000,000.00	$	110	
11/01/27	$	7,000,000.00	$	
05/01/28	$	7,000,000.00	$	115	
11/01/28	$	7,000,000.00	$	
05/01/29	$	7,000,000.00	$	120	
11/01/29	$	7,000,000.00	$	
05/01/30	$	7,000,000.00	$	130	
11/01/30	$	4,510,000.00	$	
05/01/31	$	4,510,000.00	$	135	
11/01/31	$	4,510,000.00	$	
05/01/32	$	4,510,000.00	$	145	
11/01/32	$	4,510,000.00	$	
05/01/33	$	4,510,000.00	$	155	
11/01/33	$	4,510,000.00	$	
05/01/34	$	4,510,000.00	$	165	
11/01/34	$	4,510,000.00	$	
05/01/35	$	4,510,000.00	$	175	
11/01/35	$	4,510,000.00	$	
05/01/36	$	4,510,000.00	$	185	
11/01/36	$	4,510,000.00	$	
05/01/37	$	4,510,000.00	$	200	
11/01/37	$	4,510,000.00	$	
05/01/38	$	4,510,000.00	$	210	
11/01/38	$	4,510,000.00	$	
05/01/39	$	4,510,000.00	$	225	
11/01/39	$	4,510,000.00	$	
05/01/40	$	4,510,000.00	$	240	
11/01/40	$	4,510,000.00	$	
05/01/41	$	4,510,000.00	$	255	
11/01/41	$	4,510,000.00	$	
05/01/42	$	4,510,000.00	$	270	
11/01/42	$	4,510,000.00	$	
05/01/43	$	4,510,000.00	$	290	
11/01/43	$	4,220,000.00	$	
05/01/44	$	4,220,000.00	$	310	
11/01/44	$	3,910,000.00	$	

$	213,984.74	$	-	
$	242,246.88	$	456,231.61	
$	242,246.88	$	-	
$	239,715.63	$	571,962.50	
$	239,715.63	$	-	
$	237,043.75	$	571,759.38	
$	237,043.75	$	-	
$	234,090.63	$	576,134.38	
$	234,090.63	$	-	
$	230,996.88	$	575,087.50	
$	230,996.88	$	-	
$	227,762.50	$	573,759.38	
$	227,762.50	$	-	
$	224,387.50	$	572,150.00	
$	224,387.50	$	-	
$	220,325.00	$	574,712.50	
$	220,325.00	$	-	
$	216,106.25	$	571,431.25	
$	216,106.25	$	-	
$	211,575.00	$	572,681.25	
$	211,575.00	$	-	
$	206,731.25	$	573,306.25	
$	206,731.25	$	-	
$	201,575.00	$	573,306.25	
$	201,575.00	$	-	
$	196,106.25	$	572,681.25	
$	196,106.25	$	-	
$	190,325.00	$	571,431.25	
$	190,325.00	$	-	
$	184,075.00	$	574,400.00	
$	184,075.00	$	-	
$	177,512.50	$	571,587.50	
$	177,512.50	$	-	
$	170,481.25	$	572,993.75	
$	170,481.25	$	-	
$	162,981.25	$	573,462.50	
$	162,981.25	$	-	
$	155,012.50	$	572,993.75	
$	155,012.50	$	-	
$	146,575.00	$	571,587.50	
$	146,575.00	$	-	
$	137,150.00	$	573,725.00	
$	137,150.00	$	-	
$	127,075.00	$	574,225.00	

-
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-

Rolling Oaks Community Development District Series 2022 Special Assessment Bonds
Amortization Schedule

DATE		BALANCE	PRINCIPAL	INTEREST		TOTAL	

05/01/45	
$	
3,910,000.00	
$	330,000.00	
$	127,075.00	
$	
-	
11/01/45	$	3,580,000.00	$	-	$	116,350.00	$	573,425.00	
05/01/46	$	3,580,000.00	$	355,000.00	$	116,350.00	$	-	
11/01/46	$	3,225,000.00	$	-	$	104,812.50	$	576,162.50	
05/01/47	$	3,225,000.00	$	375,000.00	$	104,812.50	$	-	
11/01/47	$	2,850,000.00	$	-	$	92,625.00	$	572,437.50	
05/01/48	$	2,850,000.00	$	400,000.00	$	92,625.00	$	-	
11/01/48	$	2,450,000.00	$	-	$	79,625.00	$	572,250.00	
05/01/49	$	2,450,000.00	$	430,000.00	$	79,625.00	$	-	
11/01/49	$	2,020,000.00	$	-	$	65,650.00	$	575,275.00	
05/01/50	$	2,020,000.00	$	455,000.00	$	65,650.00	$	-	
11/01/50	$	1,565,000.00	$	-	$	50,862.50	$	571,512.50	
05/01/51	$	1,565,000.00	$	490,000.00	$	50,862.50	$	-	
11/01/51	$	1,075,000.00	$	-	$	34,937.50	$	575,800.00	
05/01/52	$	1,075,000.00	$	520,000.00	$	34,937.50	$	-	
11/01/52	$	555,000.00	$	-	$	18,037.50	$	572,975.00	
05/01/53	$	555,000.00	$	555,000.00	$	18,037.50	$	573,037.50	
			$	7,635,000.00	$	10,019,484.74	$	17,654,484.74	

Section B

RESOLUTION 2023-11

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT IMPOSING ANNUALLY RECURRING OPERATIONS AND MAINTENANCE	NON-AD	VALOREM	SPECIAL ASSESSMENTS; PROVIDING FOR COLLECTION AND ENFORCEMENT OF ALL DISTRICT SPECIAL ASSESSMENTS; CERTIFYING AN ASSESSMENT ROLL; PROVIDING FOR AMENDMENT OF THE ASSESSMENT ROLL; PROVIDING FOR CHALLENGES AND PROCEDURAL IRREGULARITIES; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE.

WHEREAS, the Rolling Oaks Community Development District (“District”) is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes for the purpose of providing, preserving, operating, and maintaining infrastructure improvements, facilities, and services to the lands within the District;

WHEREAS, the District is located in Osceola County, Florida (“County”);

WHEREAS, the Board of Supervisors of the District (“Board”) hereby determines to undertake various activities described in the District’s adopted budget for fiscal year 2023-2024 attached hereto as Exhibit A (“FY 2023-2024 Budget”) and incorporated as a material part of this Resolution by this reference;

WHEREAS, the District must obtain sufficient funds to provide for the activities described in the FY 2023-2024 Budget;

WHEREAS, the provision of the activities described in the FY 2023-2024 Budget is a benefit to lands within the District;

WHEREAS, the District may impose non-ad valorem special assessments on benefited lands within the District pursuant to Chapter 190, Florida Statutes;

WHEREAS, such special assessments may be placed on the County tax roll and collected by the local Tax Collector (“Uniform Method”) pursuant to Chapters 190 and 197, Florida Statutes;

WHEREAS, the District has, by resolution and public notice, previously evidenced its intention to utilize the Uniform Method;

WHEREAS, the District has approved an agreement with the County Property Appraiser (“Property Appraiser”) and County Tax Collector (“Tax Collector”) to provide for the collection of special assessments under the Uniform Method;

WHEREAS, it is in the best interests of the District to proceed with the imposition, levy, and collection of the annually recurring operations and maintenance non-ad valorem special assessments on all assessable lands in the amount contained for each parcel’s portion of the FY 2023-2024 Budget (“O&M Assessments”);

WHEREAS, the Board desires to collect the annual installment for the previously levied debt service non-ad valorem special assessments (“Debt Assessments”) in the amounts shown in the FY 2023-2024 Budget;

WHEREAS, the District adopted an assessment roll as maintained in the office of the District Manager, available for review, and incorporated as a material part of this Resolution by this reference (“Assessment Roll”);

WHEREAS, it is in the best interests of the District to certify a portion of the Assessment Roll on the parcels designated in the Assessment Roll to the Tax Collector pursuant to the Uniform Method and to directly collect a portion of the Assessment Roll on the parcels designated in the Assessment Roll through the direct collection method pursuant to Chapter 190, Florida Statutes; and

WHEREAS, it is in the best interests of the District to permit the District Manager to amend the Assessment Roll, including the property certified to the Tax Collector by this Resolution, as the Property Appraiser updates the property roll, for such time as authorized by Florida law.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD:

Section 1. Benefit from Activities and O&M Assessments. The provision of the activities described in the FY 2023-2024 Budget confer a special and peculiar benefit to the lands within the District, which benefits exceed or equal the O&M Assessments allocated to such lands. The allocation of the expenses of the activities to the specially benefited lands is shown in the FY 2023-2024 Budget and in the Assessment Roll.

Section 2. O&M Assessments Imposition. Pursuant to Chapter 190, Florida Statutes and procedures authorized by Florida law for the levy and collection of special assessments, the O&M Assessments are hereby imposed and levied on benefited lands within the District in accordance with the FY 2023-2024 Budget and Assessment Roll. The lien of the O&M Assessments imposed and levied by this Resolution shall be effective upon passage of this Resolution.

Section 3. Collection and Enforcement of District Assessments.

Uniform Method for certain Debt Assessments and certain O&M Assessments. The collection of the Debt Assessments and O&M Assessments on certain lands designated for collection using the Uniform Method as described in the Assessment Roll, shall be at the same time and in the same manner as County taxes in accordance with the Uniform Method. All assessments collected by the Tax Collector shall be due, payable, and enforced pursuant to Chapter 197, Florida Statutes.

Direct Bill for Certain Debt Assessments.
The Debt Assessments on undeveloped and unplatted lands will be collected directly by the District in accordance with Florida law, as set forth in the Assessment Roll.
Debt Assessments directly collected by the District are due in full on December 1, 2023; provided, however, that, to the extent permitted by law, the Debt

Assessments due may be paid in several partial, deferred payments and according to the following schedule:
50% due no later than December 1, 2023
25% due no later than February 1, 2024
25% due no later than May 1, 2024
In the event that a Debt Assessment payment is not made in accordance with the schedule stated above, the whole Debt Assessment – including any remaining partial or deferred payments for Fiscal Year 2023-2024 as well as any future installments of the Debt Assessment – shall immediately become due and payable. Such Debt Assessment shall accrue interest (at the applicable rate of any bonds or other debt instruments secured by the Debt Assessment), statutory penalties in the amount of 1% per month, and all costs of collection and enforcement. Such Debt Assessment 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.
In the event a Debt 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, Florida Statutes or other applicable law to collect and enforce the whole assessment, as set forth herein.

Direct Bill for Certain O&M Assessments.
The O&M Assessments on certain lands (as designated for direct collection in the Assessment Roll) will be collected directly by the District in accordance with Florida law, as set forth in the Assessment Roll.
O&M Assessments directly collected by the District are due in full on December 1, 2023; provided, however, that, to the extent permitted by law, the O&M Assessments due may be paid in several partial, deferred payments and according to the following schedule:
50% due no later than December 1, 2023
25% due no later than February 1, 2024
25% due no later than April 1, 2024
In the event that an O&M Assessment payment is not made in accordance with the schedule stated above, the whole O&M Assessment may immediately become due and payable. Such O&M Assessment shall accrue statutory penalties in the amount of 1% per month and all costs of collection and enforcement. Such O&M Assessment 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 and costs of collection and enforcement.

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.

Section 4. Certification of Assessment Roll. The Assessment Roll is hereby certified and authorized to be transmitted to the Tax Collector.

Section 5. Assessment Roll Amendment. The District Manager shall keep apprised of all updates made to the County property roll by the Property Appraiser after the date of this Resolution and shall amend the Assessment Roll in accordance with any such updates, for such time as authorized by Florida law. After any amendment of the Assessment Roll, the District Manager shall file the updates to the tax roll in the District records.

Section 6. Assessment Challenges. The adoption of this Resolution shall be the final determination of all issues related to the O&M Assessments as it relates to property owners whose benefited property is subject to the O&M Assessments (including, but not limited to, the determination of special benefit and fair apportionment to the assessed property, the method of apportionment, the maximum rate of the O&M Assessments, and the levy, collection, and lien of the O&M Assessments), unless proper steps shall be initiated in a court of competent jurisdiction to secure relief within 30 days from adoption date of this Resolution.

Section 7. Procedural Irregularities. Any informality or irregularity in the proceedings in connection with the levy of the O&M Assessments shall not affect the validity of the same after the adoption of this Resolution, and any O&M Assessments as finally approved shall be competent and sufficient evidence that such O&M Assessment was duly levied, that the O&M Assessment was duly made and adopted, and that all other proceedings adequate to such O&M Assessment were duly had, taken, and performed as required.

Section 8. 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.

Section 9. Effective Date. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board.

Passed and Adopted on August 24, 2023.

Attested By:

Rolling Oaks Community Development District

 	

Print Name:	 Secretary/Assistant Secretary

Print Name:	 Chair/Vice Chair of the Board of Supervisors

Exhibit A: FY 2023-2024 Budget

Section V

Sent via Email: Gflint@gmscfl.com

June 09, 2023
Mr. George S. Flint - Vice President
Government Management Services - Central Florida, LLC
135 West Central Boulevard, Suite 320
Orlando, Florida 32801

Subject:	District Engineers Report - 2023
Rolling Oaks Community Development District (CDD)
Special Assessment Bonds Series 2016, Series 2018 &Series 2022
Section 9.21 oftheMaster Trust Indenture

Dear Mr. Flint:

In accordance with Section 9.21 of the Master Trust Indenture for the Rolling Oaks Community Development District (CDD), we have completed our annual review of the portions of the project within this CDD as constructed to date. We hereby offer the following consulting engineer report for the Rolling Oaks - Series 2016 Bonds, Rolling Oaks - Series 2018 Bonds and Series 2022 Bonds. We find that based on said inspection and our knowledge of the community, that those portions of the infrastructure are being maintained in reasonably good repair.

We have also reviewed the tentatively approved Operation and Maintenance budget for the Fiscal Year 2023 and proposed budget for Fiscal Year 2024 and believe that it is sufficient for the proper operation and maintenance of the Rolling Oaks CDD.

In addition, and in accordance with this Section 9.21 of the Master Trust Indenture, we have reviewed the current limits of insurance coverage and we believe that this is adequate for the community.

Should you have any questions or concerns, please contact me at (407) 207-9088.

Cc: File

12301 Lake Underhill Road, Suite 241, Orlando, FL 32828
• Phone: (407) 207-9088 • FAX: (407) 207-9089
www.dseorl.com

Section VII

Record and Return to:
Kathryn Boes Kolbo, P.E.
REEDY CREEK IMPROVEMENT DISTRICT
Planning and Engineering Department Post Office Box 10170
Lake Buena Vista, FL 32830-0170

Reference Parcel #s:	04-25-27-5004-0001-00G0
04-25-27-5005-0001-00I0
04-25-27-5007-0001-00O0
04-25-27-5004-0001-00F0
04-25-27-5005-0001-00H0

THIS SPACE FOR RECORDER’S USE
DRAINAGE FEE AGREEMENT
THIS DRAINAGE FEE AGREEMENT (this “Agreement”) is made and entered into effective as of the Effective Date (defined below), by and among REEDY CREEK IMPROVEMENT DISTRICT, a public corporation and public body corporate and politic of the State of Florida, whose address is 1900 Hotel Plaza Blvd., Lake Buena Vista, FL 32830 (“RCID”), and THE ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT, a local unit of
special-purpose government established pursuant to the Uniform Community Development District Act of 1980, as codified in Chapter 190, Florida Statutes, whose address is c/o Governmental Management Services-Central Florida, LLC, a Florida limited liability company, 219 E. Livingston Street, Orlando, FL 32801 (“CDD”) and ROLLING OAKS SPLENDID, LLC, a Florida limited liability company, whose address is 1 Town Center Road, Suite 600, Boca Raton, FL 33486 (“ROS”, together with CDD and their respective successors and permitted assigns, “Grantees”).
WITNESSETH
WHEREAS, portions of those certain lands commonly known as Rolling Oaks, located in Osceola County, Florida, have been dedicated to CDD in accordance with certain plats recorded in the Public Records of Osceola County, Florida, which plats and respective portions of land are more particularly described on Exhibit “A-1”, attached hereto and incorporated herein by reference (the “CDD Property”); and

WHEREAS, ROS is the owner of the CDD Property; and
WHEREAS, the remaining portions of Rolling Oaks not owned by CDD are now or were previously owned by ROS, which portions are more particularly described on Exhibit “A-2”, attached hereto and incorporated herein by reference (the “ROS Property”; together with the CDD Property, the “Property” and any reference to the ROS Property, the CDD Property and/or the Property shall, as appropriate, be deemed to be a reference to a portion thereof); and

WHEREAS, Dave Schmitt Engineering, Inc. prepared for Grantees drainage calculations entitled, Drainage Calculations for Rolling Oaks (A.K.A. Rolling Oaks/ Splendid China), dated November 2018 (the “Drainage Calculations”), and the plan set entitled, Mass Grading, Osceola County, Florida, Rolling Oaks Development, dated December 2015 and signed and sealed November 2018, for the Property (the “Construction Documents”) based upon the proposed

4843-8198-1415 v.13 149170/00006

development plan for the Property (the “Development Plan”); and
WHEREAS, CDD intends to operate a stormwater drainage facility (the “CDD Drainage Facility”) in accordance with the Development Plan and Construction Documents (the CDD Drainage Facility is deemed to be part of the Property); and

WHEREAS, portions of the ROS Property (including portions of the CDD Drainage Facility) (collectively, the “Currently Developed Portions”) have been developed and constructed prior to the Effective Date, and portions of the ROS Property including portions of the CDD Drainage Facility) (collectively, the “Currently Undeveloped Portions”) have not been developed and constructed as of the Effective Date;

WHEREAS, the portion of the Construction Documents and the Development Plan applicable to the Currently Undeveloped Portions are conceptual in nature; and
WHEREAS, RCID owns and operates a stormwater control system facility (the “RCID Facility”) which is, or will be, capable of receiving a limited amount of stormwater runoff from the Property through the CDD Drainage Facility; and

WHEREAS, Grantees desire to acquire the right to discharge stormwater from the Property, through the CDD Drainage Facility and into the RCID Facility; and

WHEREAS, the parties hereto wish to implement an agreement setting forth, among other things, the criteria, standards and costs that will be associated with the discharge of stormwater from the Property, through the CDD Drainage Facility and into the RCID Facility.
NOW THEREFORE, in consideration of the premises and the mutual covenants and conditions herein contained, the parties hereto agree as follows:
RECITALS. The above recitals are true and correct and form a material part of this Agreement.
DRAINAGE FEE. ROS shall pay to RCID the sum of Sixty-Two Thousand One Hundred and Two and 00/100 Dollars ($62,102.00) (the “Drainage Fee”) at the time of execution of this Agreement. Payment of the Drainage Fee is consideration for discharge from the Property, through the CDD Drainage Facility and into the RCID Facility in accordance with the Drainage Calculations and this Agreement.

TERM. This Agreement shall commence on the date this Agreement is fully executed (the “Effective Date”) and shall expire on the date that the discharge of surface water into the RCID Facility from the Property (through the CDD Drainage Facility) shall cease, unless sooner terminated as provided herein.

STORMWATER VOLUME.
Permitted Discharge. The CDD Drainage Facility may discharge, and RCID agrees to receive, surface water from the Property (through the CDD Drainage Facility) at a rate of no greater than 8.7 cubic feet per second (“CFS”) for the 50-year/3-day storm event (the “Calculated

Discharge”) as shown in the Construction Documents. All discharge shall be made in the manner, and only at the location(s), as shown in the Construction Documents.

Modifications.
Prior to the initial development of any portion of the Currently Undeveloped Property (including, without limitation, the CDD Drainage Facility that comprises a portion thereof) and prior to any modifications to any portions of the Property (including, without limitation, the CDD Drainage Facility), RCID shall be provided (for RCID’s review) with the applicable (a) development plan,
(b) the construction documents, and (c) calculations for stormwater discharge from the Property. Any proposed development plans and construction documents submitted to RCID are referred to as “Proposed Documents”.
The Drainage Fee payable hereunder to RCID will be adjusted in the event that any Proposed Documents reflect that the discharge from the Property will exceed the Calculated Discharge. RCID agrees that the RCID Facility will accept any surface water from the applicable portion of the Currently Undeveloped Property as set forth in each set of Proposed Documents delivered to RCID (i) if the Proposed Documents reflect that the discharge from the Property will not exceed the Calculated Discharge; and/or (ii) if the Proposed Documents reflect that the discharge from the Property will exceed the Calculated Discharge, provided that RCID has capacity in the RCID Facility to accommodate the additional discharge and ROS or CDD pays the additional amount payable as a Drainage Fee under this Agreement associated with such increased discharge (the “Additional Drainage Fee”), in which event the parties shall execute an amendment to this Agreement to reflect the Additional Drainage Fee.

COMPLIANCE WITH LAWS.

Compliance. Grantees shall obtain any and all required permits and approvals (including, without limitation, from South Florida Water Management District (the “SFWMD”)) prior to the initiation of any construction. Grantees shall comply with and ensure that the quality of all stormwater discharge from the Property to the RCID Facility shall meet or exceed the standards of Chapter 62 of the Florida Administrative Code and Water Quality Act of 1987, as such Code and Act are modified and amended from time to time. To the extent that any wastewater treatment is conducted on the Property, such wastewater treatment shall be performed pursuant to a valid permit from the County Health Department, and any other applicable agencies, and Grantees shall maintain (and/or cause to be maintained) such treatment facilities in connection with any such wastewater treatment in strict compliance with any required permits and the rules and regulations of all applicable agencies. In addition to the foregoing, Grantees shall comply with (and/or cause to be complied with) all present and future local, municipal, county, state and federal water quality, wastewater discharge, environmental regulations and all other applicable laws, statutes, governmental constitutions, ordinances, codes, regulations, resolutions, rules, requirements, standards, applications and directives, as well as decisions, judgments, writs, injunctions, orders, decrees or demands of courts, administrative bodies and other authorities

construing any of the foregoing, and Grantees shall obtain, maintain and comply with (and/or caused to be obtained, maintained and complied with) all applicable permits in connection with Grantees use of the Encumbered Property (as hereinafter defined) and the RCID Facility (collectively, “Laws”). Grantees shall promptly deliver to RCID true and accurate copies of all applicable permits and approvals, and shall, upon issuance of same, pay all costs and expenses incurred with respect to compliance with this Paragraph 5(a).

Notification. Grantees shall notify RCID within five (5) business days, in writing, of any condition which may (i) violate this Agreement; (ii) result in noncompliance with any Laws;
(iii) require additional permits and/or approvals; and/or (iv) conflict with any permits and/or approvals previously issued to Grantees. If a condition arises which will lead, or has led, to noncompliance with any of (i) through (iv) above, said notification to RCID shall also include the planned course of action to remedy the situation, and said planned course of action shall be subject to RCID’s written approval (which approval RCID may grant or withhold in its sole and absolute discretion) and shall be implemented at Grantees’ sole cost and expense.

Testing and Monitoring. At any time, and from time to time, to the extent RCID is required (or elects) to monitor and submit water quality test results to any applicable governmental agency (for any water quality parameters), Grantees shall be required, at their sole cost and expense, and at RCID’s option, to test (and/or cause to be tested), including, without limitation, within the CDD Drainage Facility, for said parameters at the same times and on the same frequency as required by RCID and/or any governing agency. Additionally, RCID shall have the right (at any time, and from time to time, but not the obligation) to come upon any portion of the Property owned by either of the Grantees to obtain water samples for purposes of water quality testing. Results of such reports must show that the quality of stormwater being discharged from the Property meets or exceeds the Laws regarding water quality.

Monitoring Reports. Should Grantees provide any governmental agency with data regarding the quality of stormwater being discharged from the Property, Grantees shall, within fifteen (15) calendar days, provide RCID with true and accurate copies of such data. Further, Grantees shall promptly provide RCID with the results and/or any response provided by said governmental agency.

Violations. If RCID determines any violation of any Laws that are related to the Property (including, without limitation, the CDD Drainage Facility) and/or the drainage therefrom into the RCID Facility, RCID shall provide written notice to Grantees as soon as reasonably possible following the detection of such occurrence. Upon receipt of such notice, Grantees shall proceed to cure (and/or cause to be cured) the violation as required in Paragraph 8 below. If Grantees fail to cure (and/or cause to be cured) the violation as required, RCID shall have the right, but not the obligation, at its sole option, to take whatever actions RCID deems necessary to prevent further stormwater discharge not meeting such Laws from entering the RCID Facility including, but not limited to, the right to enter upon the Encumbered Property to implement appropriate containment and/or corrective measures.

Reimbursement. RCID shall promptly be reimbursed by Grantees, upon demand, all sums expended by RCID in order to remedy the discharge of stormwater from the Property not meeting such Laws, and for any other damages which RCID may have sustained as a result of the

discharge of said waters into the RCID Facility.
Waste Load Allocations. If future Laws impose upon RCID waste load limitations on the quantity of pollutants and other constituent elements of stormwater that may be discharged from the RCID Facility (“Waste Load Limitations”), RCID may impose Waste Load Limitations on the stormwater discharged from the Property and Grantees agree to abide by such limitations or immediately cease discharge into the RCID Facility.

SUPERIOR REQUIREMENT. Notwithstanding anything contained in this Agreement to the contrary, all of the provisions of this Agreement are subject to any additional or more stringent requirements as imposed by any Laws. If RCID is required to perform any additional testing, monitoring, or maintenance of other activities in or to the RCID Facility, such requirements shall also be applicable to the Property (including, without limitation, the CDD Drainage Facility) and any stormwater discharge from the Property to the RCID Facility, or, if the failure to perform certain activities or functions with respect to the Property (including, without limitation, the CDD Drainage Facility) could adversely affect the RCID Facility or cause the RCID Facility to be in violation of any applicable Laws, then Grantees shall promptly satisfy (and/or cause to be satisfied) all reasonable requirements imposed by RCID to assure the compliance of the CDD Drainage Facility or any stormwater discharge from the Property to the RCID Facility to those requirements imposed by any applicable Laws.

CONSTRUCTION PLANS. Notwithstanding anything contained in this Agreement to the contrary, the Property shall not be permitted to discharge into the RCID Facility, except through the CDD Drainage Facility as set forth in and consistent with the applicable documentation approved by RCID and provided Grantees have received all applicable permits and approvals in accordance with all Laws and the requirements of all applicable agencies, including, but not limited to, RCID, as may be amended at any time and from time to time.

BREACH. If there is any breach/violation of any provision in this Agreement and such breach/violation is not cured within sixty (60) calendar days after written notice thereof or if Grantees shall fail to commence remedial action within such period if cure is not possible within said sixty (60) calendar days, and/or thereafter there is a failure to proceed diligently to complete curing same, in addition to any other right or remedy available to RCID at law or in equity, RCID shall have the right, but not the obligation, at its option to: (i) cure any such breach and Grantees agree to promptly reimburse (and/or cause to be reimbursed) RCID for the cost thereof upon demand; (ii) take whatever actions RCID deems necessary to prevent further stormwater discharge from the Property (including, without limitation, the CDD Drainage Facility) not meeting Laws from entering the RCID Facility, including, but not limited to, the right to enter upon the Encumbered Property to implement appropriate containment and/or corrective measures and/or to dam or otherwise bar all surface water discharge from the Property (including, without limitation, the CDD Drainage Facility) at Grantees’ sole cost and expense until the violation is cured; or (iii) immediately terminate this Agreement whereby all rights and obligations contained herein shall be null and void, except for this Paragraph and Paragraph 9 hereof which shall survive the expiration or earlier termination hereof. Notwithstanding the foregoing, if the breach poses an imminent threat to health and/or safety of the public and/or the environment, RCID may (but shall not be obligated to) exercise its rights under clause (ii) and/or (iii) above immediately (and prior to providing Grantees with notice). In such a case, RCID shall notify Grantees as soon as possible,

but in any case, no later than twenty-four (24) hours after any entry onto the Encumbered Property. RCID shall promptly reimburse Grantees for any damages sustained by Grantees due to action(s) by RCID that may exceed the minimal actions necessary to cure the imminent threat and ensure that all discharge from the Property (including, without limitation, the CDD Drainage Facility) meets such applicable Laws. The parties shall also endeavor to prevent duplication of efforts in complying with this Paragraph 8.

RELEASE AND INDEMNIFICATION.
Release. Notwithstanding anything to the contrary contained in this Agreement, (and solely as applicable to CDD, to the extent allowed by law and consistent with Paragraph 20 herein), it is specifically understood and agreed that by acceptance and execution of this Agreement, the named Grantees, for and on behalf of themselves and their successors, representatives, invitees, assigns and all of their officers, directors, employees, representatives and agents, assume sole and entire responsibility for any and all loss of life, injury to person or damage to property (wherever such person or property may be located) that may be sustained directly or indirectly due to: (i) the condition of the Property (including, without limitation, the CDD Drainage Facility), including, but not limited to, due to any flow of stormwater from the Property (including, without limitation, the CDD Drainage Facility); (ii) the condition of the RCID Facility as a result of use of the RCID Facility; and/or (iii) any other activities or use of the Property (including, without limitation, the CDD Drainage Facility) by the named Grantees, their successors, representatives, invitees, assigns and all of their officers, directors, employees, representatives and agents (the “Released Causes”), except as may be caused by the gross negligence or intentional misconduct of anyone acting on behalf of RCID.

Indemnification. Further, the named Grantees (and, solely as to CDD, to the extent allowed by law and consistent with Paragraph 20 herein), for themselves, their successors, representatives, invitees, agents and assigns and all of their officers, directors, employees, representatives and agents, and for those claiming by through or under any of them, shall exonerate, hold free, clear and harmless, protect, defend, indemnify, and hereby release RCID and its Board of Supervisors, officers, directors, agents, employees, representatives, successors and assigns, (collectively, the “Indemnitees”) from and against any and all claims or demands, losses, suits or actions, judgments, liens, damages, penalties, fines, interests, costs, and expenses (including, without limitation, reasonable attorneys’ fees and litigation costs) incurred by the Indemnitees from all claims and demands, whether valid or not, made by any party against RCID or any of the Indemnitees (including, without limitation, for injuries to persons (including, without limitation, loss of life)) and for damage, destruction or theft of property which is directly or indirectly due to or arise in connection with, and/or are in any way related to, the Released Causes and/or any other activity, work or act committed, permitted or suffered by or on behalf of Grantees, or caused in whole or in part by Grantees’ (or anyone acting by, through, or under Grantees) negligence or their failure to perform any obligations imposed hereunder, in or about the Property (including, without limitation, the CDD Drainage Facility), and/or the RCID Facility; or use of faulty material or workmanship; or for any act or omission of the named Grantees, their successors, invitees, agents and assigns and any of their officers, directors, employees, representatives and agents whether sustained by Grantees or RCID, or by other persons or entities lawfully on the Property owned by either of the Grantees or RCID’s adjacent property where the RCID Facility (or other facilities belonging to RCID) are located, which seek or may seek to hold RCID liable;

or liens by third parties; or Grantees’ failure to abide by any applicable Laws that exist at present or which may be enacted subsequent to the date of this Agreement, except as may be caused by the gross negligence or intentional misconduct of anyone acting on behalf of RCID.
Survival. The foregoing provisions of this Paragraph 9 shall survive the expiration or sooner termination of this Agreement.
INSURANCE.

ROS Insurance. ROS or the applicable ROS Permitted Assignee (defined below) shall maintain (and/or cause to be maintained) throughout the term:
Commercial General Liability insurance (including contractual coverage) written on an occurrence basis with minimum limits of One Million and No/100 Dollars ($1,000,000.00) per occurrence and Two Million and No/100 Dollars ($2,000,000.00) in the annual aggregate insuring RCID against claims for personal injury (including bodily injury and death) and property damage which may arise from or in connection with the obligations of ROS (or the applicable ROS Permitted Assignee) under this Agreement or from or out of any negligent act or omission of ROS (or the applicable ROS Permitted Assignee), its representatives, invitees, assigns, and all of their officers, directors, employees, representatives and agents. Such coverage under this subparagraph shall include, without limitation, premises/operations, broad form contractual, products/completed operations, independent contractors, broad form property damage and personal injury.

Pollution Legal Liability insurance written on an occurrence basis with minimum limits of Five Million and No/100 Dollars ($5,000,000.00) per occurrence and in the annual aggregate in excess of the insurance required in subparagraph 10(a)(i) hereof. Any Pollution Legal Liability Policy written on a “claims made” basis must have a retroactive date that precedes the Effective Date of this Agreement. The Pollution Legal Liability insurance coverage required hereunder shall not include any exclusion or restriction pertaining to fertilizers, waste or water runoff. The foregoing liability insurance may be maintained in the form of primary and excess (or umbrella) liability coverage, provided that such insurance satisfies all of the requirements of this Agreement.

Excess (or umbrella) insurance written on an occurrence basis and providing coverage for a limit of: (i) Five Million and No/100 Dollars ($5,000,000) in the annual aggregate in excess of the insurance required in subparagraph 10(a)(i) hereof; and (ii) in such amount that, when combined with the insurance required in subparagraph 10(a)(ii) hereof provides minimum limits of Five Million and No/100 Dollars ($5,000,000.00) per occurrence and in the annual aggregate in excess of the insurance required in subparagraph 10(a)(ii) hereof .

Any insurance policy or policies required by any Laws.

Policy Requirements.

All such insurance in this Paragraph 10 shall be with companies and on forms

acceptable to RCID and shall provide that the coverage thereunder may not be reduced or canceled unless thirty (30) calendar days unrestricted prior written notice thereof is furnished to RCID. All insurance shall be primary and noncontributory with regard to any other insurance available to RCID. All insurance shall be written by companies authorized to issue insurance in the State of Florida with a BEST Guide rating of A VIII or better, unless such requirements are waived, in writing, by RCID. Accord certificates of insurance (or copies of policies, if required by RCID) shall be furnished to RCID naming RCID and its Board of Supervisors, officers, directors, agents, employees, representatives, successors and assigns as additional insured and contain a waiver of subrogation in favor of same. (The additional insured hereunder does not apply to Workers’ Compensation).

Any insurance policies required herein shall remain in place for a period of five
(5) years following the expiration or sooner termination of this Agreement.

Certificates of Insurance evidencing the insurance required herein shall be provided to RCID concurrently with this executed Agreement. Copies of Certificates of Insurance certified by the insurance agent and/or the insurance company shall be provided directly to RCID promptly upon reasonable request during the term of this Agreement. RCID’s failure to request proof of insurance or to identify any deficiency in coverage or compliance with Paragraph 10 shall not relieve Grantees of their obligations under this Agreement.

CDD’s Insurance.

CDD shall maintain (and/or cause to be maintained) throughout the term the insurance specified in Paragraph 10(a), which insurance shall comply with the requirements of Paragraph 10(b) and subject to the provisions of this Paragraph 10(c). Notwithstanding anything in this Paragraph 10(c) to the contrary, and without waiving its right to sovereign immunity, consistent with Paragraph 20 herein, as provided in Section 768.28, Florida Statutes, CDD may self-insure for Commercial General Liability insurance (as required in 10(a)(i)) in lieu of obtaining and maintaining coverage with an insurance company as otherwise required by this Paragraph 10. CDD acknowledges that CDD is (and will continue to be) self-insured for Commercial General Liability insurance with coverage limits as set forth in Paragraph 10(a)(i), with respect to claims for personal injury (including bodily injury and death) and property damage which may arise from or in connection with CDD’s obligations under this Agreement or from or out of any negligent act or omission of CDD, or, where applicable, up to sovereign immunity limits as set forth in Section 768.28, Florida Statutes. Upon request, CDD shall provide an affidavit or Certificate of Insurance evidencing self-insurance for Commercial General Liability insurance with coverage limits as set forth in Paragraph 10(a)(i), or where applicable, up to sovereign immunity limits, which RCID agrees to find acceptable for the coverage mentioned above. RCID’s failure to request proof of insurance or to identify any deficiency in coverage or compliance with the foregoing requirements shall not relieve CDD of its liability and obligations under this Agreement.

The parties hereto acknowledge and agree that, notwithstanding anything to the contrary contained herein, if and during any period that ROS or any ROS Permitted

Assignee obtains and maintains (and/or cause to be obtained and/or maintained): (x) Pollution Legal Liability insurance, and (y) excess (or umbrella) insurance, each as required above, CDD shall not be required to obtain and maintain such insurance.
MAINTENANCE OF THE PROPERTY. Grantees shall maintain (and/or cause to be maintained) the portion of the Property owned by either of the Grantees (including, without limitation, the CDD Drainage Facility) in good and substantial order and condition and as otherwise required by this Agreement and applicable Laws.
CERTIFICATE OF COMPLETION; AS-BUILT PLANS. Grantees shall, within (30)
calendar days after the Effective Date, provide a Certificate of Completion for any facilities constructed on the Property as of the Effective Date to be kept on file with RCID’s Planning and Engineering Department. Within ten (10) calendar days prior to the earlier of (i) occupancy of any additional improvements on the Property, or (ii) the Property being further subjected to beneficial use, Grantees shall provide to RCID (and to SFWMD if required to do so by SFWMD) a Certificate of Completion for all drainage facilities constructed on the Property after the Effective Date. Any Certificate of Completion shall be provided in electronic format, properly signed and sealed by a professional engineer licensed to practice in the State of Florida and shall include a set of “As- Built Plans” of the completed drainage facilities, as may be required by SFWMD in Chapters 40E-
4.381 (1)(f) F. A. C. and 40E-40.381 (1) F. A. C. The As-Built Plans shall verify that the CDD Drainage Facility was completed in substantial compliance with the Construction Documents. Any such Certificate of Completion shall be provided in electronic format, properly signed and sealed by a professional engineer licensed to practice in the State of Florida and shall include a set of “As-Built Plans” of the completed improvements (each and collectively, the “Final Plans”). The Final Plans shall verify that all improvements constructed on the Property (and/or portion thereof if developed separately) were completed in substantial compliance with the Construction Documents or, if not so constructed, shall certify the impervious coverage percentage of the Property (and/or portion thereof if developed separately).

NOTICE. All notices and approvals required or permitted under this Agreement to be served, given or delivered upon any party shall be in writing and shall be sent by registered mail, return receipt requested, or by a national overnight receipted delivery service (e.g., Federal Express). Such notices shall be deemed served, given and delivered on the earlier of the following:
(i) the date of actual receipt; (ii) the third business day after any registered or certified notice was deposited in a sealed envelope in the United States mail, postage prepaid; (iii) the next business day after any notice was delivered (on a business day) to a receipted overnight delivery service; or
the first attempted delivery date of any notice hereunder (regardless of whether the recipient of said notice accepted same).
All notices and requests for approval or consent shall be addressed as hereinbelow set forth, or to such other address and/or persons as RCID or Grantee shall hereafter give notice as required in this Paragraph 13 to the other:
If to RCID:	Reedy Creek Improvement District Attention: District Administration 1900 Hotel Plaza Boulevard
Lake Buena Vista, FL 32830

With copies to:	Reedy Creek Improvement District Attention: Manager, Planning & Engineering 1900 Hotel Plaza Boulevard
Lake Buena Vista, FL 32830

Edward Milgrim, Esq. Milgrim Law Group 3216 Corrine Drive
Orlando, FL 32803

If to CDD:	Rolling Oaks Community Development District c/o Governmental Management Services – Central Florida, LLC
219 E. Livingston Street Orlando, FL 32801

With copies to:	Straley Robin Vericker Attention: Vivek Babbar 1510 W. Cleveland Street Tampa, FL 33606

If to ROS:	Rolling Oaks Splendid, LLC
1 Town Center Road, Suite 600 Boca Raton, FL 33486

With copies to:	Nelson Mullins Attention: Zelica Quigley
Lynn Financial Center, Suite 310 1905 NW Corporate Blvd.
Boca Raton, FL 33431
ASSIGNS.
Assignment by CDD. CDD shall not assign this Agreement without the prior written consent of RCID, which consent may be withheld in RCID’s sole and absolute discretion.
Assignment by ROS. ROS shall have the right to assign its rights and obligations under this Agreement, including, without limitation, ROS’s insurance obligations under Paragraph 10 of this Agreement, only to the Common Areas Manager (under the Rolling Oaks Resort Declaration (defined below) the “Common Areas Manager”) or the owner’s association (established by the Common Areas Manager pursuant to Section 22.8 of the Rolling Oaks Resort Declaration (the “Association”, together with the Common Areas Manager, each an “ROS Permitted Assignee”)). If ROS assigns its rights and obligations to the Common Areas Manager, the Common Areas Manager shall have the right to further assign its rights and obligations under this Agreement to the Association. Prior to and as a condition of any such assignment, the assignor shall provide to RCID: (i) a Certificate of Insurance evidencing the assignee’s compliance with Paragraph 10 hereof, and (ii) a written agreement, in recordable form (which the assignee shall promptly record in the official records of Osceola County, Florida) and reasonably acceptable to

RCID evidencing the assignment by the assignor and the assumption by the assignee of all of the rights and obligations of ROS (or Common Areas Manager) under this Agreement, the acceptance of which, as to both form and assignment, RCID shall not unreasonably withheld, delayed or conditioned, subject to (i) above. The “Rolling Oaks Resort Declaration” shall mean that certain Declaration of Covenants, Restrictions and Easements for Rolling Oaks Resort recorded in Official Records Book 5298, Page 1494, as amended from time to time. Any assignment by ROS or Common Areas Manager in accordance with this Paragraph shall not require the prior consent of RCID or CDD. Notwithstanding the foregoing, in the event of an assignment of this Agreement, ROS (or Common Areas Manager, as applicable) shall not be released from any obligations and/or liabilities that accrued prior to the assignment.

BINDING OBLIGATIONS. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective legal representatives, successors and permitted assigns and shall be appurtenant to, and constitute an encumbrance upon, the Encumbered Property and run with the Encumbered Property in perpetuity. All provisions of this Agreement which from their sense and context are intended to survive the expiration or sooner termination of this Agreement shall survive such expiration or sooner termination and continue to be binding upon the applicable party, whether or not so expressed.

CONFLICT OF LAWS. This Agreement shall be governed by, construed under and interpreted and enforced in accordance with the laws of the State of Florida.
NO THIRD-PARTY BENEFICIARIES. Nothing in this Agreement is intended or shall be deemed to confer any rights or benefits upon any entity or person (including, without limitation, any assignee) other than the parties hereto or to make any entity or person a third-party beneficiary of this Agreement.
NO IMPLIED WAIVER; RIGHTS AND REMEDIES. No course of dealing between the parties and no forbearance by RCID to insist upon performance of any provision of this Agreement, or in exercising any right or remedy conferred by this Agreement now or hereafter existing at law, in equity, by statute or otherwise shall operate as a waiver of, or otherwise prejudice, any such provision, other provision set forth herein, or right or remedy. Any waiver of any rights or remedies must be in writing and signed by the party or parties to be bound. The rights and remedies of RCID provided for under this Agreement are in addition to any other rights and remedies provided by law or in equity.

SEVERABILITY. If any clause or provision of this Agreement is illegal, invalid or unenforceable under applicable present or future laws, the remainder of this Agreement shall not be affected. In lieu of each clause or provision of this Agreement which is illegal, invalid or unenforceable, there shall be added as a part of this Agreement a clause or provision as nearly identical as may be possible and as may be legal, valid and enforceable.

NO WAIVER OF SOVEREIGN IMMUNITY. Notwithstanding any provision of this Agreement to the contrary, nothing herein shall be deemed to be a waiver of sovereign immunity by CDD or RCID. If and to the extent that any provision(s) of this Agreement would require either party to waive sovereign immunity for such provision(s) to be legal and enforceable, the applicable provision(s) shall be deemed revised (solely as to CDD and RCID) to the extent necessary for such

provision(s) (and compliance therewith) to be legal and enforceable without a waiver of sovereign immunity, or, if those provision(s) cannot be so revised, such provision(s) shall be deemed to be severed from this Agreement (solely as to CDD and RCID) and this Agreement shall remain in full force and effect without such provision(s) (solely as to CDD and RCID).

WAIVER OF JURY TRIAL; JURISDICTION. ANY LEGAL PROCEEDING OF ANY NATURE BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY TO ENFORCE ANY RIGHT OR OBLIGATION UNDER THIS AGREEMENT, OR ARISING OUT OF ANY MATTER PERTAINING TO THIS AGREEMENT, SHALL BE EXCLUSIVELY SUBMITTED FOR TRIAL WITHOUT JURY BEFORE THE CIRCUIT COURT OF THE NINTH JUDICIAL CIRCUIT IN AND FOR OSCEOLA COUNTY, FLORIDA; OR IF THE CIRCUIT COURT DOES NOT HAVE JURISDICTION, THEN EXCLUSIVELY BEFORE THE UNITED STATES DISTRICT COURT FOR THE MIDDLE DISTRICT OF FLORIDA (ORLANDO DIVISION); OR IF NEITHER OF SUCH COURTS SHALL HAVE JURISDICTION, THEN EXCLUSIVELY BEFORE ANY OTHER COURT SITTING IN OSCEOLA COUNTY, FLORIDA, HAVING SUBJECT MATTER JURISDICTION. THE PARTIES CONSENT AND SUBMIT TO THE EXCLUSIVE JURISDICTION OF ANY SUCH COURT AND AGREE TO ACCEPT SERVICE OF PROCESS OUTSIDE THE STATE OF FLORIDA IN ANY MATTER TO BE SUBMITTED TO ANY SUCH COURT PURSUANT HERETO AND EXPRESSLY WAIVE ALL RIGHTS TO TRIAL BY JURY REGARDING ANY SUCH ACTION, PROCEEDING, OR COUNTERCLAIM INVOLVING ANY MATTER WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT.

RECORDATION. Grantees shall cause this Agreement to be promptly recorded in the Public Records of Osceola County, Florida, and upon recording shall constitute an encumbrance against the CDD Property and any portions of the ROS Property owned by ROS on the date of such recording (the “Encumbered Property”).

NO WARRANTY; ENTIRE AGREEMENT. RCID has made no representations, statements, warranties or agreements to Grantees in connection with this Agreement except those specified herein. This Agreement embodies the entire understanding of the parties hereto with respect to the matters set forth in this Agreement and supersedes all prior discussions and agreements between Grantees and RCID with respect to the subject matter hereof, and there are no further or other agreements or understanding, written or oral, in effect between the parties relating to the subject matter hereof. This Agreement shall not be modified or amended in any respect except by a written agreement (including, without limitation, any assignment) executed by or on behalf of RCID, CDD and ROS (or the appliable ROS Permitted Assignee) in the same manner as executed herein.

ATTORNEYS’ FEES AND COSTS. In the event a party employs an attorney or brings an action against any other party(ies) arising out of the terms of this Agreement, the prevailing party(ies) (whether such prevailing party(ies) has been awarded a money judgment or not) shall receive from the non-prevailing party(ies) (and the non-prevailing party(ies) shall be obligated to pay) the prevailing party’s reasonable legal fees and expenses (including, without limitation, the fees and expenses of experts and para-professionals), whether such fees and expenses are incurred before, during or after any trial, re-trial, re-hearing, mediation or arbitration, administrative

proceedings, appeals or bankruptcy or insolvency proceedings, and irrespective of whether the prevailing party would have been entitled to such fees and expenses under applicable law in the absence of this provision. Without limiting the generality of the foregoing, the term "expenses" shall include expert witness fees, bonds, filing fees, administrative fees, transcription fees, depositions or proceedings, costs of discovery and travel costs. The term "prevailing party" as used in this provision shall mean that party whose positions substantially prevail in such action or proceeding, and any action or proceeding brought by any other party(ies) against the other(s) as contemplated in this provision may include a plea or request for judicial determination of the "prevailing party" within the meaning of this provision. In the event no party(ies) substantially prevails in its positions, the court may rule that no party has so substantially prevailed, in which event all parties shall be responsible for their own fees and expenses in connection therewith.

COUNTERPARTS. This Agreement may be executed in one (1) or more counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument.

NO PUBLIC RIGHTS CREATED. Nothing in this Agreement shall create or be construed to create any rights in and/or for the benefit of the general public related to the subject matter herein.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the Effective Date.

REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK SIGNATURES ON FOLLOWING PAGES

Signed, sealed and delivered in the presence of:

THE	ROLLING	OAKS	COMMUNITY
DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to

		the Uniform Community Development District Act

Printed Name: 	

Print Name: 	

of 1980, as codified in Chapter 190, Florida Statutes

By: 	
John Chiste, Chair of the Board of Supervisors

STATE OF FLORIDA   )
) SS. COUNTY OF 	 )
The foregoing instrument was acknowledged before me, by means of I physical presence or I online notarization, this 	 day of 	, 2022, by John Chiste, as Chair of the Board of Supervisors of The Rolling Oaks Community Development District, a local unit of special-purpose government established pursuant to the Uniform Community Development District Act of 1980, as codified in Chapter 190, Florida Statutes, on behalf thereof, who is 0
personally known to me or 0 presented 	 as identification. (Set forth type of identification presented, if applicable).

Signature of Notary Public-State of Florida

(AFFIX STAMP)

SIGNATURES CONTINUE ON FOLLOWING PAGES

Signed, sealed and delivered in the presence of:

Printed Name: 	

Print Name: 	

ROLLING  OAKS  SPLENDID,  LLC,  a
Florida limited liability company

By: Encore Housing Opportunity Fund II General Partner, LLC, a Delaware limited liability company, its Manager

By: 	
John Chiste, Chief Financial Officer

STATE OF FLORIDA	)
) SS. COUNTY OF 	 )

The foregoing instrument was acknowledged before me, by means of I physical presence or I online notarization, this 	 day of 	, 2022, by John Chiste, as Chief Financial Officer of Encore Housing Opportunity Fund II General Partner, LLC, a Delaware limited liability company, as Manager of Rolling Oaks Splendid, LLC, a Florida limited liability company,  on  behalf  thereof,  who  is  0  personally  known  to  me  or  0 presented 		 as identification. (Set forth type of identification presented, if applicable).

Signature of Notary Public-State of Florida

(AFFIX STAMP)

SIGNATURES CONTINUE ON FOLLOWING PAGE

Signed, sealed and delivered in the presence of:

Printed Name: 	

REEDY CREEK IMPROVEMENT DISTRICT,
a public corporation and public body corporate and politic of the State of Florida

By:		 John H. Classe, Jr., District Administrator

Print Name: 	

STATE OF FLORIDA	)
) SS. COUNTY OF 	 )

The foregoing Agreement was acknowledged before me by means of 0 physical presence or 0 online notarization, this 	 day of 	, 2022, by John H. Classe, Jr., as District Administrator of the REEDY CREEK IMPROVEMENT DISTRICT, a public corporation and public body corporate and politic of the State of Florida, on behalf thereof, who is 0 personally known to me or 0 presented 		 as identification. (Set forth type of identification presented, if applicable).

Signature of Notary Public-State of Florida

(AFFIX STAMP)

EXHIBIT “A-1” THE CDD PROPERTY

Pond 2:

Tract “H”, Rolling Oaks Phase 5, according to the plat thereof, recorded in Plat Book 26, Pages 132 through 140, of the Public Records of Osceola County, Florida

Pond 4:
Tract “G”, Rolling Oaks, according to the plat thereof, recorded in Plat Book 26, Pages 116 through 125, of the Public Records of Osceola County, Florida; and Tract “I”, Rolling Oaks Phase 5, according to the plat thereof, recorded in Plat Book 26, Pages 132 through 140, of the Public Records of Osceola County, Florida; and Tract “O”, Rolling Oaks 6A, according to the plat thereof, recorded in Plat Book 28, Pages 103 through 104, of the Public Records of Osceola County
Pond 5:

Tract “F”, Rolling Oaks, according to the plat thereof, recorded in Plat Book 26, Pages 116 through 125, of the Public Records of Osceola County, Florida

EXHIBIT “A-2” THE ROS PROPERTY

The portions of Lot 1B, 1C, Lot 3, Lot 4A and Tract A, Rolling Oaks, according to the plat thereof, recorded in Plat Book 26, Pages 116 through 125, of the Public Records of Osceola County, Florida, which is identified on Schedule 1 attached hereto.

Lot 4B, Lot 7, Lot 8, Lot 9A, Lot 9B and Lot 10, Rolling Oaks, according to the plat thereof, recorded in Plat Book 26, Pages 116 through 125, of the Public Records of Osceola County, Florida.
Rolling Oaks Phase 5, according to the plat thereof, recorded in Plat Book 26, Pages 132 through 140, of the Public Records of Osceola County, Florida.
Rolling Oaks Phase 5A, according to the plat thereof, recorded in Plat Book 30, Page 47, of the Public Records of Osceola County, Florida.
Rolling Oaks Phase 6, according to the plat thereof, recorded in Plat Book 26, Pages 132 through 140, of the Public Records of Osceola County, Florida.
Rolling Oaks 6A, according to the plat thereof, recorded in Plat Book 28, Pages 103 through 104, of the Public Records of Osceola County, Florida.
Rolling Oaks 6B, according to the plat thereof, recorded in Plat Book 29, Pages 115 through 120, of the Public Records of Osceola County, Florida.
Rolling Oaks Phase 7, according to the plat thereof, recorded in Plat Book 30, Pages 167 through 169, of the Public Records of Osceola County, Florida.
Tract “D”, Rolling Oaks, according to the plat thereof, recorded in Plat Book 26, Pages 116 through 125, of the Public Records of Osceola County, Florida.

Schedule 1

2

Section IX

Section C

Section 1

Rolling Oaks
Community Development District

Summary of Check Register

May 01, 2023 to June 30, 2023

Fund	Date	Check No.'s		Amount	
General Fund					
	5/1/23	472-476	$	6,098.74	
	5/10/23	477-480	$	20,310.97	
	5/16/23	481-482	$	687.25	
	5/19/23	483-484	$	189,063.63	
	6/5/23	485	$	3,099.74	
	6/12/23	486-487	$	13,632.51	
	6/19/23	488	$	937.00	
		Total Amount	$	233,829.84	

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	8/18/23	PAGE	1
*** CHECK DATES 05/01/2023 - 06/30/2023 ***	ROLLING OAKS GENERAL FUND
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
5/01/23 00032	4/01/23 10539	202303 310-51300-31100	*	200.00
ENGINEER SVCS MAR 23
DAVE SCHMITT ENGINEERING, INC.	200.00 000472
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/01/23 00025	1/26/23 29212	202212 320-53800-46203	*	2,200.00
LANDSCAPE MAINT DEC 22
1/31/23 29256	202301 320-53800-46203	*	2,200.00
LANDSCAPE MAINT JAN 23
LAWNMASTERS LANDSCAPING OF ORLANDO	4,400.00 000473
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/01/23 00023	4/14/23 AEFOE159 202304 310-51300-48000	*	53.91
NOT
OSCEOLA NEWS GAZETTE	53.91 000474
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/01/23 00008	3/14/23 2018673	202303 310-51300-49100	*	347.33
2022 TAX ROLL
OSCEOLA COUNTY PROPERTY APPRAISER	347.33 000475
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/01/23 00028	4/17/23 155716	202304 320-53800-46201	*	147.50
REPLACE POP UPS
4/25/23 156358	202304 320-53800-46200	*	950.00
REMOVE PALM & ROOT BALL
REW LAWN & IRRIGATION	1,097.50 000476

5/10/23 00001	5/01/23	
	5/01/23	
	5/01/23	
	5/01/23	
	5/01/23	
	5/01/23	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
117	202305 310-51300-34000	*	3,154.42
MANAGEMENT FEES MAY 23
117	202305 310-51300-35200	*	49.50
WEBSITE ADMIN MAY 23
117	202305 310-51300-35100	*	83.33
INFORMATION TECH MAY 23
117	202305 310-51300-31300	*	666.67
DISSEMINATION SVC MAY 23
117	202305 310-51300-51000	*	.33
OFFICE SUPPLIES MAY 23
117	202305 310-51300-42000	*	6.98
POSTAGE MAY 23
GOVERNMENTAL MANAGEMENT SERVICES	3,961.23 000477
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/10/23 00025	2/28/23 29265	202302 320-53800-46203	*	2,200.00
LANDSCAPE MAINT FEB 23
4/20/23 29288	202304 320-53800-46203	*	1,600.00
LANDSCAPE MAINT APR 23
LAWNMASTERS LANDSCAPING OF ORLANDO	3,800.00 000478
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/10/23 00028	5/01/23 157401	202305 320-53800-46200	*	9,450.00
LANDSCAPE MAINT MAY 23
REW LAWN & IRRIGATION	9,450.00 000479
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
ROAK ROLLING OAKS	IARAUJO

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER
*** CHECK DATES 05/01/2023 - 06/30/2023 ***	ROLLING OAKS GENERAL FUND
BANK A GENERAL FUND

CHECK REGISTER	RUN	8/18/23	

STATUS		
AMOUNT	
*		1,109.80	
*		1,989.94	

CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...	VENDOR NAME

PAGE	2

....CHECK.....

DATE	DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS	AMOUNT	#
5/10/23 00019	5/01/23 PSI-6915 202305 320-53800-47000
POND MAINT MAY 23
5/01/23 PSI-6985 202305 320-53800-47000 POND MAINT MAY 23
SOLITUDE LAKE MANAGEMENT	3,099.74 000480
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/16/23 00032	5/01/23 10647	202304 310-51300-31100	*	93.75
ENGINEER SVCS APR 23
DAVE SCHMITT ENGINEERING, INC.	93.75 000481
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/16/23 00003	5/11/23 23108	202303 310-51300-31500	*	593.50
GENERAL COUNSEL MAR 23
STRALEY ROBIN VERICKER	593.50 000482
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/19/23 00013	5/19/23 05192023 202305 300-20700-10300	*	142,581.92
TXFER TAX RCPTS S2016
ROLLING OAKS CDD C/O REGIONS BANK	142,581.92 000483
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/19/23 00013	5/19/23 5192023	202305 300-20700-10300	*	46,481.71
TXFER TAX RCPTS S2018
ROLLING OAKS CDD C/O REGIONS BANK	46,481.71 000484
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/05/23 00019	6/01/23 PSI-7850 202306 320-53800-47000	*	1,989.94 POND MAINTENANCE JUNE 23
6/01/23 PSI-7877 202306 320-53800-47000	*	1,109.80 POND MAINTENANCE JUNE 23
SOLITUDE LAKE MANAGEMENT	3,099.74 000485

6/12/23 00001	6/01/23	
	6/01/23	
	6/01/23	
	6/01/23	
	6/01/23	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
118	202306 310-51300-34000	*	3,154.42
MANAGEMENT FEES JUNE 23
118	202306 310-51300-35200	*	49.50
WEBSITE ADMIN JUNE 23
118	202306 310-51300-35100	*	83.33
INFORMATION TECH JUNE 23
118	202306 310-51300-31300	*	666.67
DISSEMINATION SVC JUNE 23
118	202306 310-51300-51000	*	.30
OFFICE SUPPLIES JUNE 23
6/01/23 118	202306 310-51300-42000	*	27.79
POSTAGE JUNE 23
6/01/23 118	202306 310-51300-42500	*	25.50
COPIES JUNE 23
GOVERNMENTAL MANAGEMENT SERVICES	4,007.51 000486
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/12/23 00028	6/01/23 INV15995 202306 320-53800-46200	*	9,450.00 LANDSCAPE MAINT JUNE 23
ROAK ROLLING OAKS	IARAUJO

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	8/18/23	PAGE	3
*** CHECK DATES 05/01/2023 - 06/30/2023 ***	ROLLING OAKS GENERAL FUND
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
6/08/23 INV16032 202306 320-53800-46201	*	175.00
REPLACE BROKEN SPRAYHEADS
REW LAWN & IRRIGATION	9,625.00 000487
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/19/23 00003	6/13/23 23264	202305 310-51300-31500	*	937.00
GENERAL COUNSEL MAY 23
STRALEY ROBIN VERICKER	937.00 000488
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A	233,829.84
TOTAL FOR REGISTER	233,829.84

ROAK ROLLING OAKS	IARAUJO

Section 2

Rolling Oaks
Community Development District

Unaudited Financial Reporting
June 30, 2023

Table of Contents

1		Balance Sheet	

2-3	
	General Fund	

4	
	Series 2016 Debt Service	

5	
	Series 2018 Debt Service	

6	
	Series 2022 Debt Service	

7	
	Series 2016 Capital Projects	

8	
	Series 2018 Capital Projects	

9	
	Series 2022 Capital Projects	

10-11	
	Month to Month	

12	
	Assessment Receipt Schedule	

13	
	Long Term Debt Schedule	

14	
	Series 2016 Construction Schedule	

15	
	Series 2018 Construction Schedule	

16	
	Series 2022 Construction Schedule	

Rolling Oaks
Community Development District Combined Balance Sheet
June 30, 2023

General
Fund

Debt Service
Fund

Capital Projects	Totals
Fund	Governmental Funds

Assets:
Operating Account - Suntrust Due from General Fund Investments
Series 2016 Reserve Revenue Interest Sinking Fund Construction
Series 2018 Reserve Revenue Interest Sinking Fund Construction
Series 2022 Reserve Revenue Interest
Capitalized Interest Sinking Fund Construction
Costs of Issuance

$	443,381	$
$	-	$

$	-	$
$	-	$
$	-	$
$	-	$
$	-	$

$	-	$
$	-	$
$	-	$
$	-	$
$	-	$

$	-	$
$	-	$
$	-	$
$	-	$
$	-	$
$	-	$
$	-	$

-	$
198,567	$

1,138,253	$
838,902	$
1,760	$
235	$
-	$

910,668	$
353,248	$
1,403	$
190	$
-	$

583,088	$
6,459	$
4	$
251,947	$
$
$
$

$
$

$
$
$
$
6,309	$

$
$
$
$
2,411	$

$
$
$
$
$
1,138	$
$

443,381
198,567

1,138,253
838,902
1,760
235
6,309

910,668
353,248
1,403
190
2,411

583,088
6,459
4
251,947
- 1,138
-

Total Assets	$	443,381	$	4,284,726	$	9,858	$	4,737,965	
Liabilities:
Accounts Payable	$	60,883	$	-	$	-	
$	60,883	
Due to Debt Service	$	198,567	$	-	$	-	$	198,567	
Fica Payable	$	-	$	-	$	-	$	-	
Total Liabilities	$	259,450	$	-	$	-	$	259,450	

Fund Balances:			
Unassigned	$	183,931	$	-	$	-	$	183,931	
Assigned for Debt Service 2016	$	-	$	2,028,372	$	-	$	2,028,372	
Assigned for Debt Service 2018	$	-	$	1,414,855	$	-	$	1,414,855	
Assigned for Debt Service 2022	$	-	$	841,498	$	-	$	841,498	
Assigned for Capital Projects 2016	$	-	$	-	$	6,309	$	6,309	
Assigned for Capital Projects 2018	$	-	$	-	$	2,411	$	2,411	
Assigned for Capital Projects 2022	$	-	$	-	$	1,138	$	1,138	
Total Fund Balances	$	183,931	$	4,284,726	$	9,858	$	4,478,515	
					
Total Liabilities & Fund Balance	$	443,381	$	4,284,726	$	9,858	$	4,737,965	

Rolling Oaks
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2023

	Adopted	Prorated Budget	Actual		
	Budget	Thru 06/30/23	Thru 06/30/23	Variance	

Revenues					
Assessments - On Roll	$	331,553	$	331,553	$	335,614	$	4,061	
Assessments - Direct	$	208,033	$	208,033	$	178,028	$	(30,005)	
Developer Contributions	$	45,457	$	45,457	$	59,750	$	14,292	
Total Revenues	$	585,044	$	585,044	$	573,392	$	(15,712)	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	9,000	$	5,000	$	4,000	
FICA Expense	$	918	$	689	$	383	$	306	
Engineering	$	10,000	$	7,500	$	700	$	6,800	
Attorney	$	15,000	$	11,250	$	3,375	$	7,875	
Arbitrage	$	1,350	$	900	$	900	$	-	
Dissemination	$	8,000	$	6,000	$	5,833	$	167	
Assessment Administration	$	10,000	$	10,000	$	10,000	$	-	
Annual Audit	$	3,675	$	-	$	-	$	-	
Trustee Fees	$	11,041	$	7,000	$	7,000	$	-	
Management Fees	$	37,853	$	28,389	$	28,390	$	(0)	
Information Technology	$	1,000	$	750	$	750	$	0	
Website Maintenance	$	594	$	445	$	446	$	(0)	
Telephone	$	100	$	75	$	-	$	75	
Postage	$	800	$	600	$	231	$	369	
Insurance	$	7,686	$	7,686	$	6,885	$	801	
Printing & Binding	$	800	$	600	$	129	$	471	
Legal Advertising	$	2,000	$	1,500	$	250	$	1,250	
Other Current Charges	$	2,000	$	1,500	$	363	$	1,137	
Office Supplies	$	130	$	98	$	3	$	95	
Property Appraiser Fee	$	300	$	347	$	347	$	-	
Property Taxes	$	80	$	80	$	10	$	70	
Meeting Room	$	1,674	$	1,256	$	284	$	972	
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-	
Total General & Administrative:	$	127,176	$	95,840	$	71,454	$	24,386	

Rolling Oaks
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2023

	Adopted	Prorated Budget	Actual		
	Budget	Thru 06/30/23	Thru 06/30/23	Variance	

Operations and Maintenance Expenses					
Field Operations					
Property Insurance	$	8,718	$	8,718	$	7,889	$	829	
Electric	$	9,689	$	7,267	$	8,517	$	(1,251)	
Streetlights	$	112,151	$	84,113	$	79,127	$	4,986	
Utility-Water and Sewer	$	85,000	$	63,750	$	91,697	$	(27,947)	
Landscape Maintenance	$	113,400	$	113,400	$	143,505	$	(30,105)	
Landscape Enhancements	$	50,000	$	22,500	$	-	$	22,500	
Landscape Irrigation	$	6,500	$	4,875	$	2,282	$	2,593	
Lawn Mowing/Trimming	$	27,720	$	20,790	$	12,600	$	8,190	
Lake Maintenance	$	37,321	$	27,991	$	33,621	$	(5,630)	
Contingency	$	7,370	$	5,528	$	3,700	$	1,828	
Total Operations and Maintenance:	$	457,868	$	358,930	$	382,938	$	(24,008)	
					
Total Expenditures	$	585,044	$	454,770	$	454,392	$	379	
					
Excess Revenues (Expenditures)	$	(0)		$	119,000		
					
Fund Balance - Beginning	$	-		$	64,931		
					
Fund Balance - Ending	$	(0)		$	183,931		

Rolling Oaks
Community Development District Debt Service Fund - Series 2016
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2023

Adopted	Prorated Budget	Actual	
Budget	Thru 06/30/23	Thru 06/30/23	Variance	

Revenues		
Assessments - Tax Roll	$	1,125,001	$	1,125,001	$	1,138,780	$	13,778	
Interest	$	500	$	500	$	54,112	$	53,612	
Total Revenues	$	1,125,501	$	1,125,501	$	1,192,892	$	67,391	

Expenditures:					
Interest - 11/01	$	429,116	$	429,116	$	429,116	$	(0)	
Principal - 11/01	$	265,000	$	265,000	$	265,000	$	-	
Interest - 05/01	$	423,153	$	423,153	$	423,153	$	-	
Total Expenditures	$	1,117,269	$	1,117,269	$	1,117,269	$	(0)	

Other Financing Sources/(Uses)					
Transfer In/Out	$	-	$	-	$	(4,740)	$	(4,740)	
Total Other Financing Sources (Uses)	$	-	$	-	$	(4,740)	$	(4,740)	
					
Excess Revenues (Expenditures)	$	8,233		$	70,883		
					
Fund Balance - Beginning	$	810,612		$	1,957,490		
					
Fund Balance - Ending	$	818,844		$	2,028,372		

Rolling Oaks
Community Development District Debt Service Fund - Series 2018
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2023

Adopted	Prorated Budget	Actual	
Budget	Thru 06/30/23	Thru 06/30/23	Variance	

Revenues		
Assessments - On Roll	$	366,750	$	366,750	$	371,242	$	4,492	
Assessments - Direct	$	533,197	$	399,898	$	399,898	$	-	
Interest	$	500	$	500	$	35,420	$	34,920	
Total Revenues	$	900,447	$	767,148	$	806,560	$	39,412	

Expenditures:					
Interest - 11/01	$	342,063	$	342,063	$	342,063	$	-	
Principal - 11/01	$	215,000	$	215,000	$	215,000	$	-	
Interest - 05/01	$	337,359	$	337,359	$	337,359	$	-	
Total Expenditures	$	894,422	$	894,422	$	894,422	$	-	

Other Financing Sources/(Uses)					
Transfer in/Out	$	-	$	-	$	(3,793)	$	(3,793)	
Total Other Financing Sources (Uses)	$	-	$	-	$	(3,793)	$	(3,793)	
					
Excess Revenues (Expenditures)	$	6,025		$	(91,654)		
					
Fund Balance - Beginning	$	601,733		$	1,506,510		
					
Fund Balance - Ending	$	607,758		$	1,414,855		

Rolling Oaks
Community Development District Debt Service Fund - Series 2022
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2023

Adopted	Prorated Budget	Actual	
Budget	Thru 06/30/23	Thru 06/30/23	Variance	

Revenues		
Interest	$	-	$	-	$	23,085	$	23,085	
Total Revenues	$	-	$	-	$	23,085	$	23,085	

Expenditures:					
Interest - 11/01	$	-	$	-	$	-	$	-	
Principal - 11/01	$	-	$	-	$	-	$	-	
Interest - 05/01	$	-	$	-	$	213,985	$	(213,985)	
Total Expenditures	$	-	$	-	$	213,985	$	(213,985)	

Other Financing Sources/(Uses)					
Transfer in/Out	$	-	$	-	$	4	$	4	
Bond Proceed	$	-	$	-	$	1,032,394	$	1,032,394	
Total Other Financing Sources (Uses)	$	-	$	-	$	1,032,398	$	1,032,398	
					
Excess Revenues (Expenditures)	$	-	$	841,498		
					
Fund Balance - Beginning	$	-	$	-		
					
Fund Balance - Ending	$	-	$	841,498		

Rolling Oaks
Community Development District Capital Projects Fund - Series 2016
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2023

Adopted	Prorated Budget	Actual	
Budget	Thru 06/30/23	Thru 06/30/23	Variance	

Revenues

Interest	

$	

-	$	

-	$	166	

$	166	
Total Revenues	$	-	$	-	$	166	$	166	

Expenditures:

Capital Outlay	

$	

-	$	

-	$	-	

$	-	
Total Expenditures	$	-	$	-	$	-	$	-	

Other Financing Sources/(Uses)					
Transfer In/Out	$	-	$	-	$	4,740	$	4,740	
Total Other Financing Sources (Uses)	$	-	$	-	$	4,740	$	4,740	
					
Excess Revenues (Expenditures)	$	-	$	4,906		
					
Fund Balance - Beginning	$	-	$	1,403		
					
Fund Balance - Ending	$	-	$	6,309		

Rolling Oaks
Community Development District Capital Projects Fund - Series 2018
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2023

Adopted	Prorated Budget	Actual	
Budget	Thru 06/30/23	Thru 06/30/23	Variance	

Revenues

Interest	

$	

-	$	

-	$	83	

$	83	
Total Revenues	$	-	$	-	$	83	$	83	

Expenditures:

Capital Outlay	

$	

-	$	

-	$	1,630	

$	(1,630)	
Total Expenditures	$	-	$	-	$	1,630	$	(1,630)	

Other Financing Sources/(Uses)					
Transfer In/Out	$	-	$	-	$	3,793	$	3,793	
Total Other Financing Sources (Uses)	$	-	$	-	$	3,793	$	3,793	
					
Excess Revenues (Expenditures)	$	-	$	2,246		
					
Fund Balance - Beginning	$	-	$	166		
					
Fund Balance - Ending	$	-	$	2,411		

Rolling Oaks
Community Development District Capital Projects Fund - Series 2022
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2023

Adopted	Prorated Budget	Actual	
Budget	Thru 06/30/23	Thru 06/30/23	Variance	

Revenues		
Interest	$	-	$	-	$	20,910	$	20,910	
Total Revenues	$	-	$	-	$	20,910	$	20,910	

Expenditures:					
Capital Outlay - Construction	$	-	$	-	$	6,240,533	$	(6,240,533)	
Capital Outlay - COI	$	-	$	-	$	335,450	$	(335,450)	
Total Expenditures	$	-	$	-	$	6,575,983	$	(6,575,983)	

Other Financing Sources/(Uses)					
Transfer In/Out	$	-	$	-	$	(4)	$	(4)	
Bond Proceed	$	-	$	-	$	6,556,215	$	6,556,215	
Total Other Financing Sources (Uses)	$	-	$	-	$	6,556,211	$	6,556,211	
					
Excess Revenues (Expenditures)	$	-	$	1,138		
					
Fund Balance - Beginning	$	-	$	-		
					
Fund Balance - Ending	$	-	$	1,138		

Rolling Oaks
Community Development District Month to Month

Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Total	

Revenues											
Assessments - On Roll	$	-	$	48,276	$	177,278	$	18,097	$	21,510	$	13,926	$	42,021	$	7,377	$	7,129	$	-  $	-  $	-  $	335,614	
Assessments - Direct	$	-	$	-	$	-	$	44,007	$	60,010	$	22,004	$	-	$	52,008	$	-	$	-  $	-  $	-  $	178,028	
Developer Contributions	$	33,201	$	26,549	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	59,750	
Total Revenues	$	33,201	$	26,549	$	-	$	44,007	$	60,010	$	22,004	$	-	$	52,008	$	-	$	-  $	-  $	-  $	573,392	

Expenditures:											

General & Administrative:											

Supervisor Fees	
$	1,400	
$	800	
$	-	
$	-	
$	800	
$	-	
$	1,000	
$	-	
$	1,000	
$	-  $	-  $	-  $	5,000	
FICA Expense	$	107	$	61	$	-	$	-	$	61	$	-	$	77	$	-	$	77	$	-  $	-  $	-  $	383	
Engineering	$	-	$	-	$	-	$	-	$	-	$	200	$	94	$	-	$	406	$	-  $	-  $	-  $	700	
Attorney	$	1,185	$	-	$	327	$	-	$	155	$	771	$	-	$	937	$	-	$	-  $	-  $	-  $	3,375	
Arbitrage	$	-	$	-	$	900	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	900	
Dissemination	$	583	$	583	$	667	$	667	$	667	$	667	$	667	$	667	$	667	$	-  $	-  $	-  $	5,833	
Assessment Administration	$	10,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	10,000	
Annual Audit	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-	
Trustee Fees	$	7,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	7,000	
Management Fees	$	3,154	$	3,154	$	3,154	$	3,154	$	3,154	$	3,154	$	3,154	$	3,154	$	3,154	$	-  $	-  $	-  $	28,390	
Information Technology	$	83	$	83	$	83	$	83	$	83	$	83	$	83	$	83	$	83	$	-  $	-  $	-  $	750	
Website Maintenance	$	50	$	50	$	50	$	50	$	50	$	50	$	50	$	50	$	50	$	-  $	-  $	-  $	446	
Telephone	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-	
Postage	$	25	$	45	$	6	$	1	$	77	$	18	$	24	$	7	$	28	$	-  $	-  $	-  $	231	
Insurance	$	6,885	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	6,885	
Printing & Binding	$	51	$	-	$	40	$	-	$	-	$	7	$	6	$	-	$	26	$	-  $	-  $	-  $	129	
Legal Advertising	$	196	$	-	$	-	$	-	$	-	$	-	$	54	$	-	$	-	$	-  $	-  $	-  $	250	
Other Current Charges	$	39	$	39	$	39	$	38	$	39	$	44	$	39	$	39	$	47	$	-  $	-  $	-  $	363	
Office Supplies	$	0	$	1	$	0	$	0	$	1	$	0	$	0	$	0	$	0	$	-  $	-  $	-  $	3	
Property Appraiser Fee	$	-	$	-	$	-	$	-	$	-	$	347	$	-	$	-	$	-	$	-  $	-  $	-  $	347	
Property Taxes	$	-	$	10	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	10	
Meeting Room	$	-	$	142	$	-	$	-	$	142	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	284	
Dues, Licenses & Subscriptions	$	175	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	175	
Total General & Administrative:	$	30,934	$	4,968	$	5,267	$	3,993	$	5,229	$	5,342	$	5,247	$	4,937	$	5,537	$	-  $	-  $	-  $	71,454	

Rolling Oaks
Community Development District Month to Month

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Total

Operations and Maintenance Expenses		
Field Operations		
Property Insurance	$	7,889	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	7,889	
Utility - Electric	$	906	$	741	$	721	$	944	$	1,148	$	1,007	$	993	$	1,079	$	977	$	-  $	-  $	-  $	8,517	
Streetlights	$	8,689	$	8,701	$	8,701	$	8,725	$	8,842	$	8,842	$	8,849	$	8,890	$	8,890	$	-  $	-  $	-  $	79,127	
Utility - Water & Sewer	$	9,259	$	7,174	$	11,192	$	6,961	$	11,006	$	12,653	$	9,611	$	23,797	$	46	$	-  $	-  $	-  $	91,697	
Landscape Maintenance	$	9,450	$	9,450	$	9,450	$	9,450	$	9,450	$	23,508	$	28,008	$	22,370	$	22,370	$	-  $	-  $	-  $	143,505	
Landscape Enhancements	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-	
Landscape Irrigation	$	-	$	595	$	240	$	170	$	439	$	368	$	148	$	-	$	323	$	-  $	-  $	-  $	2,282	
Lawn Mowing/Trimming	$	2,200	$	2,200	$	2,200	$	2,200	$	2,200	$	-	$	1,600	$	-	$	-	$	-  $	-  $	-  $	12,600	
Lake Maintenance	$	4,927	$	5,629	$	3,100	$	3,100	$	2,639	$	3,100	$	4,927	$	3,100	$	3,100	$	-  $	-  $	-  $	33,621	
Contingency	$	-	$	2,075	$	-	$	-	$	-	$	-	$	1,625	$	-	$	-	$	-  $	-  $	-  $	3,700	
Total Operations and Maintenance Expenses	$	43,321	$	36,565	$	35,604	$	31,549	$	35,724	$	49,476	$	55,760	$	59,236	$	35,705	$	-  $	-  $	-  $	382,938	
											
Total Expenditures	$	74,255	$	41,533	$	40,870	$	35,542	$	40,953	$	54,818	$	61,006	$	64,173	$	41,242	$	-  $	-  $	-  $	454,392	
											
Excess Revenues (Expenditures)	$	(41,054)	$	(14,984)	$	(40,870)	$	8,465	$	19,057	$	(32,814)	$	(61,006)	$	(12,165)	$	(41,242)	$	-  $	-  $	-  $	119,000	

Rolling Oaks
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts Fiscal Year 2023

	Gross Assessments	$  352,716.00	$ 1,196,810.00	$	390,160.06	$ 1,939,686.06	
	Net Assessments	$  331,553.04	$ 1,125,001.40	$	366,750.46	$ 1,823,304.90	
ON ROLL ASSESSMENTS		
18.18%	
61.70%	
20.11%	
100.00%	

Date	
Distribution	
Gross Amount	
Commissions	
Discount/Penalty	
Interest	
Net Receipts	
O&M Portion	2016 Debt Service	2018 Debt Service	
Total	

11/18/22	
ACH	
$7,276.00	
($145.50)	
($374.37)	
$0.00	
$6,756.13	
$1,228.55	
$4,168.61	
$1,358.97	
$6,756.13	
11/22/22	ACH	$275,008.28	($5,500.14)	($10,780.61)	$0.00	$258,727.53	$47,047.48	$159,638.05	$52,042.00	$258,727.53	
12/09/22	ACH	$950,826.50	($19,016.57)	($37,272.42)	$0.00	$894,537.51	$162,664.31	$551,940.57	$179,932.63	$894,537.51	
12/22/22	ACH	$84,842.98	($1,696.82)	($2,781.17)	$0.00	$80,364.99	$14,613.72	$49,586.18	$16,165.09	$80,364.99	
01/10/23	ACH	$4,326.78	($86.53)	($127.20)	$0.00	$4,113.05	$747.93	$2,537.80	$827.32	$4,113.05	
01/10/23	ACH	$99,471.08	($1,989.43)	($2,924.49)	$0.00	$94,557.16	$17,194.45	$58,342.92	$19,019.79	$94,557.16	
01/24/23	ACH	$0.00	$0.00	$0.00	$850.92	$850.92	$154.73	$525.03	$171.16	$850.92	
02/09/23	ACH	$812.09	($16.24)	$0.00	$0.00	$795.85	$144.72	$491.05	$160.08	$795.85	
02/09/23	ACH	$122,876.04	($2,457.50)	($2,924.43)	$0.00	$117,494.11	$21,365.34	$72,495.30	$23,633.47	$117,494.11	
03/10/23	ACH	$78,991.74	($1,579.83)	($831.55)	$0.00	$76,580.36	$13,925.51	$47,251.02	$15,403.83	$76,580.36	
04/11/23	ACH	$4,332.91	($86.66)	$0.00	$0.00	$4,246.25	$772.14	$2,619.99	$854.12	$4,246.25	
04/11/23	ACH	$230,860.64	($4,617.21)	$0.00	$0.00	$226,243.43	$41,140.51	$139,594.96	$45,507.96	$226,243.43	
04/24/23	ACH	$0.00	$0.00	$0.00	$594.75	$594.75	$108.15	$366.97	$119.63	$594.75	
05/10/23	ACH	$40,958.68	($819.17)	$430.07	$0.00	$40,569.58	$7,377.25	$25,031.93	$8,160.41	$40,569.59	
06/12/23	ACH	$805.94	($16.60)	$24.18	$0.00	$813.52	$147.93	$501.95	$163.64	$813.52	
06/12/23	ACH	$14,628.10	($301.34)	$438.85	$0.00	$14,765.61	$2,685.01	$9,110.56	$2,970.04	$14,765.61	
06/16/23	ACH	$23,404.96	($482.14)	$0.00	$702.16	$23,624.98	$4,296.01	$14,576.90	$4,752.07	$23,624.98	

$

101%
-

Net Percent Collected Balance Remaining to Collect

TOTAL	$	1,939,422.72  $	(38,811.68)  $	(57,123.14)  $	2,147.83  $ 1,845,635.73  $  335,613.74  $ 1,138,779.79  $	371,242.21  $  1,845,635.74

DIRECT BILL ASSESSMENTS

Rolling Oaks Splendid, LLC Invoice# 2023-01				
Total	
$120,019.20	
$533,197.15	
Date
Received	Due
Date	Check
Number	Net
Assessed	Amount
Received	Operations &
Maintenance	Series 2018
Debt	
2/20/23	12/1/22	19931	$326,608.17	$326,608.17	$60,009.60	$266,598.57	
5/11/23	2/1/23	821	$163,304.07	$163,304.09	$30,004.80	$133,299.29	
	5/1/23		$163,304.09				
			$653,216.33	$489,912.26	$90,014.40	$399,897.86	

Rolling Oaks Apartments, LLC Invoice# 2023-02				
Total		
$88,014.08	
Date
Received	Due
Date	Check
Number	Net
Assessed	Amount
Received	Operation &
Maintenance	
1/5/23	12/1/22	382	$44,007.04	$44,007.04	$44,007.04	
2/24/23	2/1/23	819	$22,003.52	$22,003.52	$22,003.52	
5/24/23	5/1/23	1356	$22,003.52	$22,003.52	$22,003.52	
			$88,014.08	$88,014.08	$88,014.08	

Rolling Oaks
Community Development District LONG TERM DEBT REPORT

SERIES 2016, SPECIAL ASSESSMENT BONDS	

INTEREST RATES:	
4.500%, 5.250%, 5.875%, 6.000%	
MATURITY DATE:	11/1/2047	
RESERVE FUND DEFINITION	MAXIMUM ANNUAL DEBT SERVICE	
RESERVE FUND REQUIREMENT	$1,124,706	
RESERVE FUND BALANCE	$1,138,253	
BONDS OUTSTANDING - 12/15/16	$15,640,000	
LESS: PRINCIPAL PAYMENT 11/1/18	($220,000)	
LESS: PRINCIPAL PAYMENT 11/1/19	($230,000)	
LESS: PRINCIPAL PAYMENT 11/1/20	($240,000)	
LESS: PRINCIPAL PAYMENT 11/1/21	($255,000)	
LESS: PRINCIPAL PAYMENT 11/1/22	($265,000)	
CURRENT BONDS OUTSTANDING	$14,430,000	

SERIES 2018, SPECIAL ASSESSMENT BONDS	

INTEREST RATES:	
4.375%, 4.875%, 5.375%, 5.500%	
MATURITY DATE:	11/1/2049	
RESERVE FUND DEFINITION	MAXIMUM ANNUAL DEBT SERVICE	
RESERVE FUND REQUIREMENT	$899,831	
RESERVE FUND BALANCE	$910,668	
BONDS OUTSTANDING - 11/8/18	$13,160,000	
LESS: PRINCIPAL PAYMENT 11/1/20	($195,000)	
LESS: PRINCIPAL PAYMENT 11/1/21	($205,000)	
LESS: PRINCIPAL PAYMENT 11/1/22	($215,000)	
CURRENT BONDS OUTSTANDING	$12,545,000	

SERIES 2022, SPECIAL ASSESSMENT BONDS	

INTEREST RATES:	
5.7%, 6.3%, 6.55%	
MATURITY DATE:	5/1/2053	
RESERVE FUND DEFINITION	MAXIMUM ANNUAL DEBT SERVICE	
RESERVE FUND REQUIREMENT	$576,163	
RESERVE FUND BALANCE	$583,088	
BONDS OUTSTANDING - 11/22/22	$7,635,000	
CURRENT BONDS OUTSTANDING	$7,635,000	

Rolling Oaks
Community Development District Special Assessment Bonds, Series 2016

Date	Requisition #	Contractor	Description	Requisitions	
Fiscal Year 2022					
		TOTAL		$	-	

Fiscal Year 2022					
10/1/21		Transfer		$	56.70	
10/1/21		Interest		$	0.01	
11/1/21		Interest		$	0.01	
12/1/21		Interest		$	0.02	
1/1/22		Interest		$	0.01	
2/1/22		Interest		$	0.01	
3/1/22		Interest		$	0.01	
4/1/22		Interest		$	0.07	
4/1/22		Transfer		$	67.03	
5/1/22		Interest		$	0.16	
6/1/22		Interest		$	0.61	
7/1/22		Interest		$	1.06	
8/1/22		Interest		$	1.61	
9/1/22		Interest		$	2.37	
		TOTAL		$	129.68	

Acquisition/Construction Fund at 09/30/2021	
$	
1,273.29	
Interest Earned and Transfer In thru 09/30/22	$	129.68	
Requisitions Paid thru 09/30/22	$	-	

Remaining Acquisition/Construction Fund	 $	1,402.97 

Date	Requisition #	Contractor	Description	Requisitions Fiscal Year 2023

TOTAL	$	-	

Fiscal Year 2023			
10/1/22	Transfer	$	4,740.48	
10/1/22	Interest	$	2.66	
11/1/22	Interest	$	7.47	
12/1/22	Interest	$	17.58	
1/1/23	Interest	$	20.21	
2/1/23	Interest	$	21.81	
3/1/23	Interest	$	21.13	
4/1/23	Interest	$	24.03	
5/1/23	Interest	$	24.28	
6/1/23	Interest	$	26.39	
	TOTAL	$	4,906.04	

Acquisition/Construction Fund at 09/30/2022	
$	
1,402.97	
Interest Earned and Transfer In thru 03/30/23	$	4,906.04	
Requisitions Paid thru 06/30/23	$	-	

Remaining Acquisition/Construction Fund	 $	6,309.01 

Rolling Oaks
Community Development District Special Assessment Bonds, Series 2018

Date	Requisition #	Contractor	Description	Requisitions Fiscal Year 2022

12/1/21	5	Rolling Oaks Splendid, LLC	Public facility roadway, drainage, and utility infrastructure	$  2,281,083.53	
		TOTAL		$ 2,281,083.53	

Fiscal Year 2022					
10/1/21		Transfer		$	45.36	
10/1/21		Interest		$	18.75	
11/1/21		Interest		$	19.38	
12/1/21		Interest		$	41.56	
1/1/22		Interest		$	5.00	
2/1/22		Interest		$	-	
3/1/22		Interest		$	-	
4/1/22		Interest		$	0.01	
4/1/22		Interest		$	53.62	
5/1/22		Interest		$	0.02	
6/1/22		Interest		$	0.07	
7/1/22		Interest		$	0.13	
8/1/22		Interest		$	0.19	
9/1/22				$	0.28	
		TOTAL		$	184.37	
			
Acquisition/Construction Fund at 09/30/21 Interest Earned 09/30/22
Requisitions Paid thru 09/30/22	
$ 2,281,064.78
$	184.37
$ (2,281,083.53)	
			Remaining Acquisition/Construction Fund	 $	165.62 	
Date	Requisition #	Contractor	Description	Requisitions	
Fiscal Year 2023					
2/28/23	1/6/00	Rolling Oaks CDD	Reimburse RO O&M Ithink Graphics Invoice # 78762 - Custom Wildlife Signs	6/16/04	
		TOTAL		$	1,629.98	

Fiscal Year 2023					
10/1/22		Transfer		$	3,792.52	
10/1/22		Interest		$	0.31	
11/1/22		Interest		$	3.67	
12/1/22		Interest		$	11.32	
1/1/23		Interest		$	13.01	
2/1/23		Interest		$	14.04	
3/1/23		Interest		$	12.21	
4/1/23		Interest		$	9.18	
5/1/23		Interest		$	9.28	
6/1/23		Interest		$	10.09	
		TOTAL		$	3,875.63	
			
Acquisition/Construction Fund at 09/30/22	
$	165.62	
			Interest Earned 06/30/23	$	3,875.63	
			Requisitions Paid thru 06/30/23	$	(1,629.98)	
			Remaining Acquisition/Construction Fund	 $	2,411.27 	

Rolling Oaks
Community Development District

Special Assessment Bonds, Series 2022

Date	Requisition #	Contractor	Description	Requisitions	
Fiscal Year 2023				
12/31/22	2	Rolling Oaks Splendid, LLC	Reimbursement	$ 5,776,399.78	
2/21/23	3	Rolling Oaks Splendid, LLC	Reimbursement	$	464,133.56	
		TOTAL	$	6,240,533.34	

Fiscal Year 2023				
12/1/22		Interest	$	5,457.83	
1/1/23		Interest	$	12,684.83	
2/1/23		Interest	$	1,625.30	
3/1/23		Interest	$	1,124.42	
4/1/23		Interest	$	4.20	
5/1/23		Interest	$	4.38	
6/1/23			$	4.76	
		TOTAL	$	20,905.72	
		
Acquisition/Construction Fund at 11/22/2022	
$	6,220,765.38	
		Interest Earned 06/30/23	$	20,905.72	
		Requisitions Paid thru 06/30/23	$  (6,240,533.34)	
		Remaining Acquisition/Construction Fund	 $	1,137.76 	

Section 3

NOTICE OF MEETING DATES ROLLING OAKS
COMMUNITY DEVELOPMENT DISTRICT

The Board of Supervisors of the Rolling Oaks Community Development District will hold their regularly scheduled public meetings for Fiscal Year 2024 at 1:00 pm at the Margaritaville Resort Orlando, 8000 Fins Up Circle, Kissimmee, Florida 34747 on the fourth Thursday of each month as follows:

October 26, 2023
November 23, 2023
December 28, 2023
January 25, 2024
February 22, 2024
March 28, 2024
April 25, 2024
May 23, 2024
June 27, 2024
July 25, 2024
August 22, 2024
September 26, 2024

The meetings are open to the public and will be conducted in accordance with the provisions of Florida Law for Community Development Districts. A copy of the meeting agenda may be obtained from the District Manager at 219 East Livingston Street, Orlando, Florida 32801. Additionally, interested parties may refer to the District’s website for the latest information: www.rollingoakscdd.com.

The meeting may be continued to a date, time, and place as evidenced by motion of the majority of Board Members participating. There may be occasions when one or more Supervisors will participate by telephone. 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 at these meetings is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.

George S. Flint
Governmental Management Services – Central Florida, LLC District Manager

Audit Committee Meeting

Section III

Section A

ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT REQUEST FOR PROPOSALS

District Auditing Services for Fiscal Year 2023
Osceola County, Florida

Instructions to Proposers

SECTION  1.  DUE DATE.   Sealed proposals must be received no later than Thursday, September 14, 2023, at 5:00 p.m., at the offices of Governmental Management Services – Central Florida, LLC, Attn: George Flint, District Manager, 219 East Livingston Street, Orlando, Florida 32801. Proposals will be publicly opened at that time.

Section 2. Familiarity with the Law. By submitting a proposal, the Proposer is assumed to be familiar with all federal, state, and local laws, ordinances, rules, and regulations that in any manner affect the work. Ignorance on the part of the Proposer will in no way relieve it from responsibility to perform the work covered by the proposal in compliance with all such laws, ordinances, and regulations.

Section 3. Qualifications of Proposer. The contract, if awarded, will only be awarded to a responsible Proposer who is qualified by experience and licensing to do the work specified herein. The Proposer shall submit with its proposal satisfactory evidence of experience in similar work and show that it is fully prepared to complete the work to the satisfaction of the District.

Section 4.  Submission of Only One Proposal. Proposers shall be disqualified, and their proposals rejected if the District has reason to believe that collusion may exist among the Proposers, the Proposer has defaulted on any previous contract or is in arrears on any previous or existing contract, or for failure to demonstrate proper licensure and business organization.
Section 5.	Submission of Proposal. Submit one (1) original hard copy and one
electronic  copy  of  the  Proposal  Documents,  and  other  requested  attachments, at  the  time  and place    indicated    herein,    which    shall    be    enclosed in   an   opaque   sealed  envelope,   marked  with the title “Auditing Services – Rolling Oaks Community Development District” on the face of it.

Section 6. Modification and Withdrawal. Proposals may be modified or withdrawn by an appropriate document duly executed and delivered to the place where proposals are to be submitted at any time prior to the time and date the proposals are due. No proposal may be withdrawn after opening for a period of ninety (90) days.

Section 7.  Proposal Documents. The proposal documents shall consist of the notice announcing the request for proposals, these instructions, the Evaluation Criteria Sheet, and a proposal with all required documentation pursuant to Section 12 of these instructions (the “Proposal Documents”).

Section 8.  Proposal. In making its proposal, each Proposer represents that it has read and understands the Proposal Documents and that the proposal is made in accordance therewith.

Section 9. Basis of Award/Right to Reject. The District reserves the right to reject any and all proposals, make modifications to the work, and waive any informalities or irregularities in proposals as it is deemed in the best interests of the District.

Section 10. Contract Award. Within fourteen (14) days of receipt of the Notice of Award from the District, the Proposer shall enter into and execute a Contract (engagement letter) with the District.

Section 11. Limitation of Liability. Nothing herein shall be construed as or constitute a waiver of District’s limited waiver of liability contained in Section 768.28, Florida Statutes, or any other statute or law.

Section 12. Miscellaneous. All proposals shall include the following information in addition to any other requirements of the proposal documents.

List position or title of all personnel to perform work on the District audit. Include résumés for each person listed; list years of experience in present position for each party listed and years of related experience.

Describe proposed staffing levels, including résumés with applicable certifications.

Three references from projects of similar size and scope. The Proposer should include information relating to the work it conducted for each reference as well as a name, address and phone number of a contact person.

The lump sum cost of the provision of the services under the proposal for Fiscal Year 2023, plus the lump sum cost of four (4) annual renewals.

Provide a proposed schedule for performance of the audit.

Section 13. Protests. In accordance with the District’s Rules of Procedure, any protest regarding the Proposal Documents, must be filed in writing, at the offices of the District Manager, within seventy-two (72) calendar hours (excluding Saturday, Sunday, and state holidays) after the receipt of the Proposal Documents. The formal protest setting forth with particularity the facts and law upon which the protest is based shall be filed within seven (7) calendar days (including Saturday, Sunday, and state holidays) after the initial notice of protest was filed. Failure to timely file a notice of protest or failure to timely file a formal written protest shall constitute a waiver of any right to object or protest with respect to the aforesaid Proposal Documents.

Section 14. Evaluation of Proposals. The criteria to be used in the evaluation of proposals are presented in the Evaluation Criteria Sheet, contained within the Proposal Documents.

ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT AUDITOR SELECTION EVALUATION CRITERIA

Ability of Personnel.	(20 Points)

(E.g., geographic location of the firm’s headquarters or permanent office in relation to the project; capabilities and experience of key personnel; present ability to manage this project; evaluation of existing workload; proposed staffing levels, etc.)

Proposer’s Experience.	(20 Points)

(E.g., past record and experience of the Proposer in similar projects; volume of work previously performed by the firm; past performance for other community development districts in other contracts; character, integrity, reputation of Proposer, etc.)

Understanding of Scope of Work.	(20 Points)

Extent to which the proposal demonstrates an understanding of the District’s needs for the services requested.

Ability to Furnish the Required Services.	(20 Points)

Extent to which the proposal demonstrates the adequacy of Proposer’s financial resources and stability as a business entity necessary to complete the services required.

Price.	(20 Points)

Points will be awarded based upon the lowest total proposal for rendering the services and the reasonableness of the proposal.

TOTAL	(100 Points)

Section B

ROLLING OAKS COMMUNITY DEVELOPMENT DISTRICT REQUEST FOR PROPOSALS FOR ANNUAL AUDIT SERVICES

The Rolling Oaks Community Development District hereby requests proposals for annual financial auditing services. The proposal must provide for the auditing of the District’s financial records for the fiscal year ending September 30, 2023, with an option for four (4) additional annual renewals. The District is a local unit of special-purpose government created under Chapter 190, Florida Statutes, for the purpose of financing, constructing, and maintaining public infrastructure. The District is located in Osceola County, Florida. The District currently has an operating budget of approximately $585,044. The final contract will require that, among other things, the audit for the fiscal year ending September 30, 2023, be completed no later than June 1, 2024.

Each auditing entity submitting a proposal must be authorized to do business in Florida; hold all applicable state and federal professional licenses in good standing, including but not limited to a license under Chapter 473, Florida Statutes, and be qualified to conduct audits in accordance with “Government Auditing Standards”, as adopted by the Florida Board of Accountancy. Audits shall be conducted in accordance with Florida law and particularly section 218.39, Florida Statutes, and the rules of the Florida Auditor General.

Proposal packages, which include evaluation criteria and instructions to proposers, are available from the District Manager at the address and telephone number listed below.

Proposers must provide one (1) original hard copy and one (1) electronic copy of their proposal to Governmental Management Services – Central Florida, LLC Attn: Jill Burns/Samantha Hoxie, District Manager/Staff, 219 East Livingston Street, Orlando, Florida 32801, in an envelope marked on the outside “Auditing Services – Rolling Oaks Community Development District.”

Proposals must be received by 5:00 PM on Thursday, September 14, 2023, at the office address listed above. Proposals received after this time will not be eligible for consideration. Please direct all questions regarding this Notice to the District Manager who can be reached at
(407) 841-5524.

George Flint, District Manager
Governmental Management Services – Central Florida, LLC