Boggy Creek Improvement District
12051 Corporate Boulevard Orlando, FL 32817; Phone: 407-382-3256
www.boggycreekid.org
The following is the proposed agenda for the upcoming Meeting of the Board of Supervisors for the Boggy Creek Improvement District ("District"), scheduled to be held at 3:30 p.m. on Thursday, August 23, 2018 at Lake Nona Lakehouse, 13623 Sachs Ave, Orlando, FL 32827. A quorum will be confirmed prior to the start of the meeting.

For those unable to attend in person, you may participate by telephone: Phone: 1-877-864-6450	Participant Code: 933751
BOARD OF SUPERVISORS' MEETING AGENDA

Organizational Matters
Roll Call to Confirm a Quorum
Public Comment Period
Consideration of the Minutes of the July 17, 2018 Board of Supervisors' Meeting

Business Matters
Public Hearing on the Adoption of the District's Annual Budget
Public Comments and Testimony
Board Comments
Consideration of Resolution 2018-13, Adopting the Fiscal Year 2019 Budget and Appropriating Funds
Public Hearing on the Imposition of Special Assessments
Public Comments and Testimony
Board Comments
Consideration of Resolution 2018-14, Imposing Special Assessments and Certifying an Assessment Roll
Consideration of Release/Termination of Easement Agreements (Burnham) (provided under separate cover)
Ratification of Requisition Nos. 409 - 410 Approved in July 2018 in an amount totaling $730.56
Ratification of Operation and Maintenance Expenditures Paid in July 2018 in an amount totaling $53,314.73
Recommendation of Work Authorizations/Proposed Services (if applicable)
Review of District's Financial Position and Budget to Actual YTD

Other Business
Staff Reports
District Counsel
District Manager
District Engineer
Construction Supervisor
Audience Comments, Supervisor Requests

Adjournment

BOGGY CREEK IMPROVEMENT	DISTRICT

Minutes of the July 17, 2018 Board of Supervisors' Meeting

BOGGY CREEK IMPROVEMENT DISTRICT BOARD OF SUPERVISORS' MEETING MINUTES

FIRST ORDER OF BUSINESS

The Board of Supervisors' Meeting for the Boggy Creek Improvement District was called to order on Tuesday, July 17, 2018 at 3:50 p.m. at 6900 Tavistock Lakes Blvd., Suite 200, Orlando, Florida 32827. Members listed below constituted a quorum.

Richard Levey Damon Ventura Thad Czapka Heather Issacs

Chair
Vice-Chair Assistant Secretary Assistant Secretary

Also, attending:

JeffNewton Larry Kaufmann Tucker Mackie Jennifer Walden Hank Fishkind Lynne Mullins Stephen Flint Mike Williams Scott Thacker Dan Byrnes Brent Wilder

District Engineer Construction Supervisor Hopping Green & Sams Fishkind & Associates, Inc. Fishkind & Associates, Inc. Fishkind & Associates, Inc. Tavistock Development
Akerman (joined via phone @3:54 p.m.) Tavistock Development
Tavistock  Development
PFM Financial Advisors LLC

SECOND ORDER OF BUSINESS	Public Comment Period

Mr. Levey called for any public comments on any agenda items. There were no members of the public present at the time.

THIRD ORDER OF BUSINESS		Consideration of Minutes of the June 19, 2018 Board of Supervisors' Meeting

Board Members reviewed the minutes from the June 19, 2018 Board of Supervisors' Meeting.

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On Motion by Ms. Issacs, second by Mr. Ventura, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved the Minutes of the June 19, 2018 Board of Supervisors' Meeting, as presented.

FOURTH ORDER OF BUSINESS		Consideration of Resolution 2018-10, Re-Setting the Date, Time, and Location of the Public Hearing on the Proposed Budget for Fiscal Year 2018/2019

Ms. Mackie explained that at the last meeting the Board set the date, time, and location but it has changed from Valencia College to now the Lake Nona Lakehouse, 13623 Sachs Ave, Orlando, FL 32827. Ms. Mackie requested approval of Resolution 2018-10 which would acknowledge that change.

On Motion by Ms. Issacs, second by Mr. Ventura, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved Resolution 2018-10, Re-Setting the Date, Time, and Location of the Public Hearing on the Proposed Budget for Fiscal Year 2018/2019 to August 23, 2018 at 3:30 p.m. at the Lake Nona Lakehouse, 13623 Sachs Avenue, Orlando, Florida 32827.

FIFTH ORDER OF BUSINESS		Consideration of Resolution 2018-11,	Delegating Authority to the Chair

Ms. Mackie explained that this document was requested to be added by the Chair to at least have a discussion related to items that have been requested of the Chair from time to time outside of a noticed meeting as it relates to approval for expenditures that are needed in between meetings and on an emergency basis. Ms. Mackie noted that the previous Board authorized a similar resolution with a not-to-exceed amount of $50,000.00 that would allow the Chair to approve anything that needed approval or consideration due to emergency circumstances. Mr. Levey stated that the discussion was that the burden would be on the District staff to justify why it is an emergency and there will be analysis so if it is close to a Board meeting we wouldn't do it. If it is proven that it

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must be done and it would cost more money if it was not approved or other problems it would justify the approval. Ms. Mackie stated that nothing obligates the Chair to approve it but it will give the Chair the authority to do so.

On Motion by Ms. Issacs, second by Mr. Ventura, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved Resolution 2018-11, Delegating Authority to the Chair for a not-to-exceed amount of $50,000.00.

Dr. Fishkind joined the meeting in progress.

SIXTH ORDER OF BUSINESS		Consideration of Matters Relating to the Issuance of the Series 2018 Bond Anticipation Notes
Ratification of Term Sheet dated June 18, 2018, between the District and Florida Community Bank, N.A.

Dr. Fishkind explained that there were a number of versions of the Term Sheet which were very similar. He stated that the only significant difference between the Term Sheet that he asked Mr. Levey to approve and the one that the bank thought the District was approving relates to a reduction in the cost for Bank Counsel from $15,000.00 to $10,000.00 and the inclusion of providing the Engineer's Report and the Assessment Report to the Bank. Mr. Williams joined the meeting via phone. Dr. Fishkind noted that there were no material changes and requested ratification so that the District can confmm the signature page to the Term Sheet (Minutes Exhibit A).

On Motion by Mr. Ventura, second by Mr. Czapka, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District ratified the Te1m Sheet dated July 3, 2018, between the District and Florida Community Bank, N.A.

Consideration		of Financial	Advisory Agreement Supplement

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for	the	Series	2018 Boggy Creek Note

Dr. Fishkind stated that Fishkind & Associates, Inc. has a Financial Advisory Agreement with the District as does PFM and Mr. Wilder is here representing PFM. Dr. Fishkind stated that pmi of the Financial Advisory Agreement provided for if the Financial Advisor arranges for a financing that was determined to be in the best interest of the District, then Fishkind would be compensated for that financing at a rate of 75 basis points or 0.75% calculated against the amount of the facility. It is well below the industry standard for these kinds of facilities. Dr. Fishkind would then oversee the provision of the transaction and Mr. Wilder, as the District's other Financial Advisor, would pine about the propriety of the transaction, the value to the District, and the reasonableness of the fee. Mr. Levey asked if the size of the note will change and Dr. Fishkind responded that it is going to come down to $25,000,000.00 and therefore the fee would come down as well.

Mr. Wilder stated that as advisor to the District his company reviewed the various documents prepared by the Attorney. He noted that everything is consistent with the Term Sheet. His team commented on those and the terms have been negotiated as aggressively as possible as you can with the Bank. He noted that this is as good a deal with the Bank as the District could hope to achieve. He stated that he is comfortable advising the District to move forward at this time. Mr. Levey asked if he had an opinion on the size of the placement fee as a percentage. Mr. Wilder responded that in this market comparing it to other underwriting fees it would be 1.5% to 2% for these types of things and this is a lower and more aggressive of a fee then the District has seen from the other firms.

On Motion by Mr. Ventura, second by Ms. Issacs, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved Financial Advisory Agreement Supplement for the Series 2018 Boggy Creek Note, noting that the size of the Note is going to be $25,000,000.00 not the $26,500,000.00 disclosed.

Presentation of the Second Amended and Restated Engineer's Report

Mr. Newton noted that he presented the Second Amended and Restated Engineer's Repmi to the Board at the last meeting. Mr. Levey asked ifthere were any changes. Mr. Newton responded that there were no changes. Mr. Ventura asked if there is any action required by the Board. Ms. Mackie responded that no action is required because it will be handled in the assessment resolution that

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the Board will consider later on. Ms. Mackie asked Mr. Newton if the cost estimates identified in the Engineer's Report are reasonable and proper. Mr. Newton responded yes. Ms. Mackie asked him ifhe had any reason to believe that the project cannot be completed as outlined in the CIP. He responded that he does not.

Presentation of the Final Supplemental Assessment Methodology Report for the Series 2018 Bond Anticipation Notes

Dr. Fishkind explained that the District passed a Preliminary Assessment Methodology Report and there has been no change in the methodology. He noted that the only material change has been to reduce the size of the facility. He explained that the production period will now be three years and there is an updated schedule. Dr. Fishkind stated that the facility size was reduced to
$25,000,000.00. He noted that the District can defer the principle for five years but the District can only capitalize interest for four years. He added that since the publication of this agenda there have been additional small changes that various team members have requested. Mr. Levey noted that on Page 1 the size of the issuance has been noted at $25,000,000.00. Mr. Ventura asked if the Developer has seen this and understands the changes. Dr. Fishkind responded yes. Mr. Levey asked if this is ready for final action or if Dr. Fishkind needs to delegate to the Chair for final approval subject to any of the last-minute modifications. Ms. Mackie stated that most of the documents that are appearing as Dr. Fishkind indicated are in close to final form and the Board will be considering a Delegation Award Resolution soon in its agenda which will authorize the Chair and Vice-Chair to accept certain changes with respect to any of the documents that are being presented. Ms. Mackie noted that no specific motion is needed to approve this document and the final version will be attached to the final version of the Supplemental Assessment Resolution that the Board will review later on in the agenda as well.

Consideration Resolution Authorizing

of 2018-08,
the

Issuance of and Awarding the Sale of Its Not	Exceeding
$25,000,000.00 Principle Amount of Boggy Creek Improvement District Special         Assessment

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Revenue Anticipation Series 2018

Bond Note,

Third Supplemental Trust Indenture
Term Sheet

Ms. Mackie asked Dr. Fish.kind if the lands subject to the assessments receive special benefit from the District's CIP. Dr. Fish.kind responded that they do as documented in the report. Ms. Mackie asked if the assessments are reasonably apportioned amongst the properties included within the Assessment Roll. Dr. Fish.kind responded that they are and they are consistent with the Master Assessment Methodology the District has approved. Ms. Mackie asked if it is reasonable, proper and just to assess the cost of the projects in accordance with the methodology. Dr. Fish.kind responded that it is. Ms. Mackie asked if the special benefits the land will receive either meets or exceeds the costs identified in the Engineer's Report. Dr. Fish.kind responded they do. Ms. Mackie asked Dr. Fish.kind if it is in his opinion that it is in the best interest of the District to levy the 2018 Assessments to be paid and collected in accordance with the Methodology. Dr. Fish.kind responded yes.

Mr. Williams stated that the Bonds were reduced in the last day or two to $25,000,000.00. He noted that this resolution approved the Term Sheet and the Third Supplemental Trust Indenture.

On Motion by Ms. Issacs, second by Mr. Ventura, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved Resolution 2018-08, Authorizing the Issuance of and Awarding the Sale of Its Not Exceeding $25,000,000.00 Principle Amount of Boggy Creek Improvement District Special Assessment Revenue Bond Anticipation Note, Series 2018.

Consideration		of Resolution 2018-09, Setting Forth the Terms of the Series 2018 Notes; Confirming	and Adopting the Second Amended and Restated

Engineer's Confirming Adopting	the Supplemental

Report;
and Final

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Assessment Methodology	Report; Confirming, Allocating,
and Authorizing the Collection of Special Assessments Securing Series 2018 Notes

Ms. Mackie stated that the Board has previously gone through an assessment process back in 2010 to levy the Master Assessments and this resolution supplements those prior resolutions and confmms to the terms of the Series 2018 Note. She stated that it will be modified to reflect the issuance amount of $25,000,000.00. Resolution 2018-09 walks through the findings that have occurred previously and with respect to the terms of the 2018 Note, confirms the assessment lien that was previously levied and conforms those to the terms of the 2018 Note, allocates assessments securing the 2018 Note in accordance with the Methodology that is attached as an exhibit, provides for true-up payments and will require that the District publish an assessment notice following the issuance of the 2018 Note. Mr. Levey mentioned that the noted amount of $26,500,000.00 is now down to $25,000,000.00.

On Motion by Mr. Ventura, second by Ms. Issacs, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved Resolution 2018-09, Setting Forth the Te1ms of the Series 2018 Notes; Confirming and Adopting the Second Amended and Restated Engineer's Report; Confirming and Adopting the Final Supplemental Assessment Methodology Report; Confaming, Allocating, and Authorizing the Collection of Special Assessments Securing Series 2018 Notes.

Consideration of Second Amended and Restated Agreement by and between the Boggy Creek Improvement District and Lake Nona Land Company, LLC Regarding	the Completion of Certain Improvements

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Ms. Mackie explained that regarding the 2010 issuance and 2013 issuance the District entered into a Completion Agreement with the majority landowner and Developer that provides for the fact that in the event that the District does not issue any financings beyond that which it is approved, which is now the 2010, 2013, and 2018 Note, the Developer is responsible for completing the CIP. The Second Amended and Restated Agreement adds that the District will now be issuing the 2018 Note which is intended to finance the 2018 project.

On Motion by Mr. Ventura, second by Mr. Czapka, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved the Second Amended and Restated Agreement by and between the Boggy Creek Improvement District and Lake Nona Land Company, LLC Regarding the Completion of Certain Improvements.

Consideration of Second Amended and Restated Agreement by and between the Boggy Creek Improvement District and Lake Nona Land Company, LLC Regarding the True-Up and Payment Series 2018 Assessments

Ms. Mackie explained that this is a separate True-Up Agreement from that which the District had previously entered into with Lake Nona Land Company. It is an agreement between the Boggy Creek Improvement District and Lake Nona Land Company, LLC regarding the True-Up and Payment of Series 2018 Assessments. She noted that the Board executed similar agreements with respect to its prior financings and the Developer has identified a certain development plan that secures and fully assesses the property for the entire CIP. Ms. Mackie stated that in the event that the Developer does not complete the entire development plan such that it develops less units it is obligating itself to pay the difference in the assessment. Mr. Ventura asked if there is a separate agreement for each issuance. Ms. Mackie responded that is con-ect. Dr. Fishkind added that it happens because the true-up threshold changes.

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On Motion by Mr. Ventura, second by Mr. Czapka, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved the Agreement by and between the Boggy Creek Improvement District and Lake Nona Land Company, LLC Regarding True-Up and Payment of Series 2018 Assessments.

Presentation of Notice of Series 2018 Assessments

Ms. Mackie explained no action is needed on this item and this is the document referenced in the Supplemental Assessment Resolution that is going to be recorded in the public records on closing on the 2018 Note. It will identify that the 2018 Assessments have been levied over the property. Mr. Levey asked if the District had an anticipated closing date. Dr. Fishkind stated that the preclosing is July 24, 2018 and the closing is July 25, 2018.

SEVENTH ORDER OF BUSINESS		Consideration of Resolution 2018-12, Approving an Annual Meeting Schedule for Fiscal Year 2018-2019

Ms. Walden explained that District staff recommends that the District keep the 3rd Tuesday of each month at 3:30 p.m. at this location for the Board of Supervisors Meeting and that the Construction Committee for Boggy Creek, Greeneway, and My1ile Creek ID keep their schedule for every other week at 3:30 p.m. at the office of Donald W. McIntosh.

On Motion by Ms. Issacs, second by Mr. Ventura, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved Resolution 2018-12, Approving an Annual Meeting Schedule for Fiscal Year 2018-2019.

EIGHTH ORDER OF BUSINESS	Consideration of Personnel Leasing	Agreement
(Irrigation	Specialist) between the District and Tavistock Development Management, LLC

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Ms. Mackie stated that the District during the budget process, through recommendations made by the Landscape Manager of Maintenance Mr. Flint and Mr. Thacker, made certain changes to the budget that would provide for an Irrigation Specialist to supervise the i1Tigation system within the District. She noted that this was seen as preferred to the Contractor currently providing those services and the suggestion that it has not worked out as well as the District and the landowners would prefer. Ms. Mackie explained that the course of action being suggested by staff is to enter into a Personnel Leasing Agreement with Tavistock Development Management, LLC that would provide for an individual to supervise the irrigation systems and the Contractor with respect to irrigation going forward and that a corresponding adjustment be made in the contract that the District  has  with BrightView  for  landscape  and  irrigation.  Mr.  Levey  asked  if  it would be
$20,000.00 per all three Districts. Ms. Mackie responded that is correct. Mr. Levey asked ifDistrict staff knows the savings on the contract. Ms. Mackie stated that on the Boggy Creek contract it is a $71,000.00 reduction but she does not know what the delta is between the others. Ms. Mackie noted that it is reflected in the budget but what might not be reflected with accuracy is the change in the landscaping contract. Mr. Ventura asked if the new person would be attending the monthly meetings. Ms. Mackie stated that the person should be invited to attend the Constmction Committee meetings. Mr. Levey added that the person should attend the Board meetings as needed.

On Motion by Mr. Ventura, second by Mr. Czapka, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved the Personnel Leasing Agreement (Irrigation Specialist) between the District and Tavistock Development Management, LLC.

NINTH ORDER OF BUSINESS		Consideration Amendment

of	Second
to	the

Agreement			between		the District		and		BrightView Landscape		Services,	Inc., Regarding the Provision of Lake	Nona			South Boulevard	and Roadways Landscape		and Irrigation Maintenance Services

Mr. Levey stated that this is where the cost savings would occur. Ms. Mackie stated that there is also a change in the scope of services that were originally attached to the Landscape Agreement.

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On Motion by Mr. Ventura, second by Mr. Czapka, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved the Second Amendment to the Agreement between the District and BrightView Landscape Services, Inc., Regarding the Provision of Lake Nona South - Boulevard and Roadways Landscape and Irrigation Maintenance Services.

Ms. Mackie asked Mr. Ventura to confam that he is an employee of the Tavistock entity for purposes of declaring that conflict. Mr. Levey noted that Ms. Issacs stepped out of the room for that motion.

TENTH ORDER OF BUSINESS		Ratification of Requisition No. 401 - 408 Approved in June 2018 in an amount totaling $101,504.39

Board Members reviewed Requisition No. 401 - 408 approved in June 2018 in an amount totaling
$101,504.39.

On Motion by Mr. Ventura, second by Mr. Czapka, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District ratified payment of Requisition No. 401 - 408 Approved in June 2018 in an amount totaling $101,504.39.

ELEVENTH ORDER OF BUSINESS		Ratification of Operation and	Maintenance Expenditures Paid in June 2018 in the amount totaling
$73,379.19

Board Members reviewed the Operation & Maintenance expenditures paid in June 2018 in the amount totaling $73,379.19.

On Motion by Mr. Ventura, second by Mr. Czapka, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District ratified the Operation and Maintenance expenditures paid in June 2018 in the amount totaling $73,379.19.

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TWELFTH ORDER OF BUSINESS

There were no Work Authorizations for this District.

THIRTEENTH ORDER OF BUSINESS

Recommendation of Work Authorizations/Proposed Services

Review of District's Financial Position and Budget to Actual YTD

Board Members reviewed the Statement of Financial Position and Budget to Actual through June 2018. Ms. Walden noted that the District is currently under budget by $65,000.00 through the end of June. No action was required by the Board.

FOURTEENTH ORDER OF BUSINESS	Staff Reports

District Counsel -

District Manager -

District Engineer

Ms. Mackie explained that she and District Management are looking into issues that have been raised recently with respect to the District's website and whether or not there is a requirement for it to be ADA compliant. She noted that given recent litigation with Cities, Counties, and Special Districts in Southern Florida, District staff believes that the District should be moving towards getting its required website into compliance with the ADA. The Department of Justice has not adopted any specific guidelines but there are particular guidelines at WCHE 2.0 is the recommended guideline to which the District should achieve. Fishkind & Associates is working on this in a global fashion with respect to the 100 websites that they maintain with an ADA Consultant to get good pricing and uniform consistency. Ms. Mackie will be bringing updates back before the Board.

Ms. Walden reminded the Board that the August meeting was rescheduled for August 23, 2018 because of the public hearing and will take place at 3:30 p.m. at the Lake Nona Lakehouse.

Mr. Newton distributed the Construction Status Memorandum (Minutes Exhibit B). He stated that Nemours West & Lift Station 10 is well under way. He noted that the only outstanding issue with the Contractor relates to the lift station generator and staff is working

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through that but is having hard time getting the Contractor to comply with City specs. Mr. Newton has an additive Change Order #7 in the amount of $27,142.20 and an additional five days to the contract for plan revisions for utility stub-outs requested by the Town Center engineer dated April 20, 2018.

Mr. Newton discussed the traffic signal modifications at Tavistock Lakes Boulevard and Veterans Way. He noted that the signals have been completed and the restriping at Tavistock Lakes Boulevard has also been completed. The signal is functional with the double left coming out of the Town Center area. The modifications for the signal at Veterans Way won't be activated until the second left tum lane has been completed which is anticipated to happen at the end of this month. He pointed out to the Board that there have been concerns expressed about the double left leaving the Town Center from Tavistock Lakes Boulevard. He noted that it meets design criteria but since there is construction out there it has made it worse. He and Mr. Kaufmann have been working through it and Mr. Newton contacted the company that designed the traffic signal modification, VHB, and have asked them if the District can phase the signal differently. One option is to alternate the traffic signal will diminish capacity of the intersection. Mr. Kaufmann stated that the second option was to physically stripe the lanes. Mr. Levey stated that is a better solution. Mr. Kaufmann stated that the District would need to get the City's approval to do all this. Mr. Newton noted that previously there were concerns expressed by the Developer about too much striping which was why Nemours West was modified to put a median back in as opposed to the center tum lane because there was concern that the striping was overwhelming. Mr. Newton did not run the two alternatives pass the Developer because it is not known what is available from a signal timing and signal phasing standpoint until VHB responds back.

On Motion by Mr. Ventura, second by Mr. Czapka, with all in favor, the Board of Supervisors for the Boggy Creek Improvement District approved the Change Orders as recommended by the District Engineer in the Construction Contract Status Memorandum dated July 17, 2018.

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Construction Supervisor -	Mr. Kaufmann stated that Medical City Drive is now being built as
a private roadway south. He noted that there were irrigation lines and reclaimed lines installed 10 years ago for Laureate Blvd. and during that process of installation it appears that there is a piece of pipe that is missing that connects road crossing to where there was initially a fire hydrant attached to the reclaimed line. That piece of pipe that is missing needs to go in and it is a CDD road even though the project is not a CDD project. Mr. Kaufmann noted that there may be a need before the next Board meeting to authorize someone to install the piece of pipe. Mr. Newton explained that there will need to be underground utility investigation work, design work, and it must be submitted to the City of Orlando. Mr. Levey asked who the Contractor was. Mr. Newton responded that it was DeWitt. Mr. Levey asked if anyone has contacted them and pointed it out and he encouraged staff to have a conversation with that Contractor.

FIFTEENTH ORDER OF BUSINESS	Supervisor and Audience Comments & Adjournment

Mr. Flint stated that the planter that got hit by car was repaired today. Mr. Levey asked if the District needs to go after the driver's insurance. Ms. Mackie stated that there was no police report filed as it was a hit and run. Ms. Mackie stated that the question is if the District should notify the carrier or pay the cost out of pocket. Mr. Flint is looking into it but the deductible is probably going to be higher than the cost to repair it. There was no other business to discuss. Mr. Levey requested a motion to adjourn.

On Motion by Mr. Czapka, second by Mr. Ventura, with all in favor, the July 17, 2018 Meeting of the Board of Supervisors for the Boggy Creek Improvement District was adjourned.

Secretary/Assistant Secretary	ChairNice Chair

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-A

FLORIDA COMMUNITY BANK

FCB

July 3, 2018

Board of Supervisors
Boggy Creek Improvement District City of Orlando, Florida

RE: Non-Bank Qualified Tax Exempt Bond Anticipation Note, Series 2018

Florida Community Bank, N. A. a national banking association ("Bank" and/or "FCB") is pleased to consider a financing arrangement (the "Facility'') for the Boggy Creek Improvement District (the "District"), the basic terms and conditions of which are set forth below. This financing proposal is not exhaustive, and the credit facility is subject to other terms and conditions nonnally required by FCB for similar transactions. The proposed Facility is subject to the satisfactory completion ofFCB's customary due diligence, underwriting and receipt of credit approval. This letter is not a commitment to lend.

Borrower:	Boggy Creek Improvement District (the "District")

Facility:	Non-Bank Qualified Tax Exempt Revolving Line of Credit ("Note")

Amount:	$ 26,500,000 (not to exceed)

Purpose:	The proceeds of the Note will be used to finance certain infrastructure within the boundaries of the District ("Project Area") fund a Debt Service Reserve Fund, capitalized interest, and pay the costs of issuance.

Term:		The term ofthe Bond Anticipation Draw Note shall not exceed 5 years from the date of closing and the availability to make advances under the Note shall be limited to the first 36 months from closing.

Collateral:		The Note will be a Limited Obligation of the District. The principal and interest on the Series 2018 Note will be payable solely from and secured by i) the proceeds of debt service special assessments levied by the District against specially benefitting properties in the District ("Assessments"), ii) the proceeds from any debt issued by the District to refinance the proposed Note, and iii) the Debt Service Reserve Fund. Prior to closing, the District shall provide an Engineer's Report and Assessment Methodology that shall document the scope of improvements and the benefitting properties which shall be acceptable to the Bank.

Repayment:	Semi-Annual interest payments on the 1st of each May and November, commencing on November I, 2018. Principal due at maturity.

Interest Rate:	The interest rate would be fixed at 4.50 percent.

Pre-payment: The District may prepay and redeem the Note, in whole or part, at any time or from time to time, without penalty or premium, by paying to the Bank all or a part of the principal amount of the Note to be repaid, together with the unpaid interest accrued on the amount of principal so prepaid to the date of such prepayment. Each prepayment and redemption of such Note shall be made on such date and in such principal amount as shall be specified by the District in a written notice delivered
1

1:ILEHDER

FloridaCommunityBank.com	(OUllI

FMEDUIlltCR

to the Bank not less than ten days prior thereto specifying the principal amount to be prepaid and the date of such prepayment.

Fees:		Fifty basis point (.50%) Note  Commitment  Fee for the Note, plus  the District is responsible for all legal and out of pocket expenses associated with the proposed financing. The Bank will be represented by Greenspoon Marder Law, whose fee will be fixed at $ I 0,000.

Affirmative
Covenants:    For so long as any of the principal amount of or interest on the proposed Note is outstanding or any duty or obligation of the District contemplated under the proposed Note remains unpaid or unperformed, the District covenants to the Bank as foll9ws:
Payment - The District shall pay the principal of and the interest  on the proposed Note at the time and place and in the manner provided in the Note.
Use of Proceeds - Proceeds from the Note will only be used to finance infrastructure approved by the District and located within the Project Area ("Improvements"), fund a Debt Service Reserve Fund, capitalized interest, and pay the costs of issuance. Prior to closing, the District shall provide both an Engineer's Report and Assessment Methodology that shall document the scope of improvements and the benefitting properties which shall be acceptable to the Bank. Any subsequent material changes to either document shall require written consent of Bank.
Notice of Defaults - The District shall within ten days after it acquires knowledge thereof, notify the Bank in writing at its Notice Address upon the happening, occurrence, or existence of any Event of Default, and any event or condition which with the passage of time or giving of notice, or both, would constitute an Event of Default, and shall provide the Bank with such written notice, a detailed statement by a responsible officer of the District of all the relevant facts and the action being taken or proposed to be taken by the District with respect thereto.
Records - The District agrees that any and all records of the District shall be open to inspection by the Bank or its representative's during normal business hours at the offices of the District.
Maintain Existence - The District will take all reasonable legal action within its control
in order to maintain its existence as a community development district of the State, and shall not voluntarily dissolve.
Notice of Liabilities - The District shall promptly inform the Bank in writing of any actual or potential contingent liabilities or pending or threatened litigation of any amount that could reasonably be expected to have a material and adverse effect upon the financial condition of the District or upon the ability of the District to perform its obligation under the proposed Note.
Insurance - The District shall maintain such liability, casualty and other insurance as is reasonable and prudent for similarly situated independent special districts of the State and shall upon request of the Bank,·provide evidence of such coverage to the Bank.
Comply with Laws - The District is in compliance and shall comply with all applicable federal, state and local laws and regulatory requirements.
Taxes - In the event the proposed Note should be subject to the excise tax or any other Note Document should be subject to the excise tax on documents, or any similar tax, the District shall pay such taxes or reimburse the Bank for any such taxes paid by it.
Audited Financial Statements - The District will cause an audit to be completed of its books and accounts and shall furnish to the Bank within 270 days after the end of each fiscal year audited year-end financial statements of the District certified by an independent certified public accountant to the effect that such audit has been conducted in accordance with generally accepted auditing standards and stating whether such financial statements present fairly in all material respects the financial position of the

FloridaCommunityBank.com

LENDER FDIC

"=""'="""""I.,...2.

District and the results of its operations and cash flows for the periods covered by the audit report, all in conformity with generally accepted accounting principles applied on a consistent basis. Such financial statements shall include a balance sheet and statement of revenues, expenditures and changes in fund balances, with comparative figures to the prior year and including a comparison of actual results to budgeted projections.
	Annual Budget. The District shall adopt an annual budget as required by law. The District covenants that, so long as the Note shall remain unpaid, it will appropriate in its annual budget, by amendment, if required, amounts sufficient to pay the principal of and interest on the Note as the same shall become due. In the event that the amount previously budgeted for such purpose is at any time insufficient to pay such principal and interest on the Note, the District covenants to use its best efforts to take immediate action to amend its budget so as to budget and appropriate an amount sufficient to pay such debt service on the Note. The District shall provide the Bank with a copy of its annual operating budget for each fiscal year not later than 45 days after the commencement thereof. The budget shall specifically detail the Assessments and any other special assessments to be levied by the District with respect to such fiscal year.
Assessment Records. The District shall maintain records with respect to the Assessments which shall be updated as Assessments are collected. The records shall detail Assessments
levied to date on a parcel-by-parcel basis, and (ii) collected to date. An annual report setting forth the foregoing information will be provided to the Bank at such times, and in such format as the Bank may reasonably request. Upon the occurrence of any Event of Default, the District will, upon request of the Bank, and payable from the debt service reserve fund, engage the services of a consultant reasonable acceptable to the Bank to assist the District in levying the Assessments until such time as the default is cured.
Assessment Roll. Commencing with the tax roll adopted during the year 2018, the District shall provide to the Bank the certified assessment roll detailing the Assessments, if any, to be imposed for each tax year within 30 days of the date such roll becomes available.
Maintenance of Improvements. All Improvements are and will be owned by the District or another political subdivision of the State of Florida and all Improvements shall be available for use by the general public on the same basis, subject only to conditions imposed by the District or another political subdivision of the State of Florida as may be necessary to protect the health safety and general welfare of the District and its inhabitants, visitors, property owners and workers or to protect such Improvements from damage, misuse, or destruction. The District shall observe and perform all of the terms and conditions contained in the Act, and shall comply with all valid acts, rules, regulations, orders and directions of any legislative, executive, administrative or judicial body applicable to the Improvements. The District shall levy assessments as shall be necessary to provide for the maintenance of the Improvements.

Negative
Covenants:     For so long as any of the principal amount of or interest on the proposed  Note is outstanding or any duty or obligation of the District under the proposed Note remains unpaid or any obligation of the District under any of the Note Documents remain unpaid or unperformed, that:
No Amendments. The District shall not alter, amend or repeal the Assessment Resolutions, or take any action impairing the authority thereby or hereby given with respect to the imposition of the Assessments, or the payment of the Note, without prior written approval of the Bank which shall not be unreasonably withheld. However, the District may amend the Assessment Resolution to expand the Project Area so long as the Assessments are not reduced.
No Liens. The District shall not create or permit any pledge, assignment, mortgage or lien on the Assessments or the Improvements other than pursuant to the Note Documents.
Disposition of Assets. The District shall not dispose of any of the Improvements other than

FloridaCommunityBank.com

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LEH   DEA        FDIC

in the ordinary course of business.
loans. The District shall not loan money or make advances or other extensions of credit to other persons or entities except in the normal course of the District's Operations.

Assessments
	Limited Obligation. The District promises that it will promptly pay the principal of and interest on the Note at the place, on the dates and in the manner provided therein according to the true intent and meaning hereof and thereof; provided that the principal of and interest on the Note is payable solely from the Assessments, and nothing in the Note or in the Note Resolution shall be construed as pledging any other funds or assets of the District to such payment or authorizing such payment to be made from any other source. The District is not and shall not be liable for the payment of the principal of and interest on the Note or for the performance of any pledge, obligation or agreement for payment undertaken by the District hereunder from any property other than the Assessments. The Bank shall not have any right to resort to legal or equitable action to require or compel the District to levy and collect any tax or special assessment or to keep any tax or special assessment in force, except for the Assessments, to pay principal or interest on the Note.
	Pledge of Assessments. The principal of and interest on the Note shall be payable from and secured by a lien upon the Assessments. The District will grant a security interest in favor of the Bank in the Assessments. Promptly upon collection by the District, all Assessments shall be deposited by the District into an account (the "Revenue Account") maintained by the District at the Bank, in which account, and the proceeds therein, the District hereby grants the Bank a security interest in order to secure the repayment of the Note.
Levy of Assessments. The District will levy and assess Assessments upon the benefitted lands
within the District in accordance with the Act and the Assessment Resolutions, in amounts and at the times, when combined with the amounts in the Revenue Account and subject to the limitations set forth in the Assessment Resolutions and in the Act, that are sufficient to pay the principal of and interest on the Note as herein provided. It is contemplated that the District shall utilize the unifom1 method for the collection of the Assessments authorized by Section I 97.3632, Florida Statutes for platted lots. However, in the future, the District may, if it is not able to utilize the uniform method for platted lots, with written consent of the Bank, collect the assessments using an alternative method. The District will take all necessary steps to levy and collect Assessments Revenues sufficient to pay the principal and interest of the Note when due.
Use of Assessments. The District will use the proceeds of Assessments levied for debt service
solely to pay principal of and interest on the Note, the Series 2013 Bonds, and Collection Costs.

Debt Service
Reserve Fund: The District agrees that it will maintain a Debt Service Reserve account at the Bank. The Debt Service Reserve account shall be maintained at 8 percent of the outstanding Note. The Debt Service Reserve will be funded at the time of each draw on the Note in the amount of8 percent to satisfy the requirements for a 8 percent balance calculated on the basis of the outstanding balance on the Note. Amounts of deposit in the Debt Service Res rve account may be invested only in interest bearing accounts of Florida Community Bank. The Debt Service Reserve account shall be pledged as security for the Note and the District will grant the Bank a security interest in the Debt Service Reserve account and the amounts therein to secure the Note. For so long as the Note is outstanding, the District may not withdraw amounts from the Debt Reserve account. In the event that at any time the District fails to pay the principal of or interest on the Note as the same becomes due, the Bank may direct the Trustee to withdraw such amount from the Debt Service Reserve account as shall be necessary in order to pay the principal of and interest on the Note as the same becomes due. The Trustee shall notify the District in writing if any such withdrawal is made.
...,,,,,""'"""""' I.,...4.

FloridaCommunityBank.com

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Events of
Default:	An "Event of Default" shall be deemed to have occurred under this Agreement if:
the District shall fail to make any payment of the principal of or interest on the Note after the same shall become due and payable ("Monetary Default"), whether by maturity, or otherwise; or
the District shall default in the perfonnance of or compliance with any tenn or covenant contained in the Loan Documents, which default or noncompliance shall continue and not be cured within thirty (30) days after (i) notice thereof to the District by the Bank; or (ii) the Bank is notified of such noncompliance or should have been so notified, whichever is earlier. However, if the District is diligently pursuing a remedy, then the cure period is extended to 90 days; or
any representation or warranty made in writing by or on behalf of the District in any Note Document shall prove to have been false or incorrect in any material respect on the date made or reaffirmed; or
the District admits in writing its inability to pay its debts generally as they become due or files a petition in bankruptcy or makes an assignment for the benefit of its creditors or consents to the appointment of a receiver or trustee for itself; or
the District is adjudged insolvent by a court of competent jurisdiction , or it is adjudged a bankrupt on a petition in bankruptcy filed by or against the District, or an order, judgment or decree is entered by any court of competent jurisdiction appointing, without the consent of the District, a receiver or trustee of the District or of the whole or any part of its property, and if the aforesaid adjudications, orders, judgments or decrees shall not be vacated or set aside or stayed within 90 days from the date of entry thereof; or
the District shall file a petition or answer seeking reorganization or any arrangement under the
federal bankruptcy laws or any other applicable law or statute of the United States of America or the State of Florida; or
the District shall default in the due and punctual payment or performance of covenants under any obligation for the payment of money to the Bank or any other subsidiary or affiliate of the Bank; or
a judgment or order shall be rendered against the District for the payment of money in excess of$250,000 and such judgment or order shall continue unsatisfied or unstayed for a period of more than 30 days. However, if the District is diligently pursuing a remedy, then the cure period is extended to 90 days.

Monetary Default
Rate:		The "default rate of interest" shall be the lesser of five percentage points over the Bank's Prime Rate ofinterest or the maximum legal rate at the time of the Monetary Default. The default rate of interest shall only apply for interest during the period between when the Monetary Default (after noticed cure period), occurs and when it is cured by the District.

Interest Rate
Adjustments: In the event the interest on the Note becomes subject to federal income tax in any period, the interest rate will convert to the taxable rate during that period. The taxable rate will be calculated by dividing the current tax-exempt rate by l minus the effective federal tax rate. In addition, the District shall make the Bank whole for any interest, penalties, and additions to tax suffered by the Bank.

In the event the Maximum Federal Corporate Tax Rate imposed on corporations pursuant to Section 11(b) of the Internal Revenue Code of 1986, as amended, is changed, the interest rate on the Bond will be adjusted to such rate as will provide the same tax equivalent yield to the Bank. The interest rate on the Bond shall be adjusted to the product obtained by multiplying the interest rate then in effect on the Bond by a fraction equal to (1-A divided by 1-B), where A equals the Maximum Corporate Tax Rate in effect as of the date of adjustment and B equals the Maximum Corporate Tax

5

FloridaCommunityBank.com

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Rate in effect immediately prior to the date of adjustment. This rate shall have a floor of 3. 75 percent.

Conditions of Lending:

Waiver of Jwy Trial

The obligations of the Bank to lend hereunder are subject to the following conditions precedent:
Documents are and shall be true and correct to the best of the District's knowledge at the time of closing.
On the closing date the District shall be in compliance with all the tenns and provisions set forth in the Note Documents on its part to be observed or perfonned, and no Event of Default nor any event that, upon notice or lapse of time or both, would constitute such an Event of Default, shall have occurred and be continuing at such time.
	On or prior to the closing date, the Bank shall have received the following supporting documents, all of which shall be satisfactory in fonn and substance to the Bank (such satisfaction to be evidenced by the purchase of the Note by the Bank): (i) the opinion of counsel to the District, regarding the due authorization, execution, delivery, validity and enforceability of the Agreement and the Note, the District's power to incur the debt evidenced by the Note, the due adoption and enforceability of the Note Resolution and Assessment Resolutions and the due creation and existence of the District and to the effect that the Note is excluded from gross income for federal income tax purposes and is exempt from State excise tax on documents, and (ii) such additional supporting documents as the Bank may reasonably request.
No material and adverse changes shall have occurred in the financial condition of the District.
t) The Bank shall not be required to enter into the proposed Credit Accommodation until the completion of all due diligence inquiries (including but not limited to client providing a complete detailed budget of all planned work within the 2018 improvements and Bank completing a satisfactory site visit and meeting with largest underlying land owner, Tavistock), receipt of approvals from all requisite parties and the execution and receipt of all necessary documentation reasonably acceptable to the Bank and its counsel. The Bank complies with the US Patriot Act of 200 I (the "Act"), including, but not limited to; those sections relating to customer identification, monitoring and reporting of suspicious activities, and the prevention of money laundering. This Act mandates that we verify certain infonnation about the borrower and any guarantor while processing the Credit Accommodation request. Furthermore, certain assumptions are made for this proposal which, if altered, could affect the overall credit approval and or the tenns of the proposed Credit Accommodation.
g) Evidence provided by the Bank that it is a qualified public depository according  to Florida law.

District and Bank knowingly, intentionally, and voluntarily waive any right which any of them may have to a trial by jury in connection with any matter directly or indirectly relating to any Note document executed in connection herewith or any other matter arising from the relationship between Bank and District.

FloridaCommunityBank.com

6

1:JLEHDER     FDIC

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Florida Community Bank appreciates the opportunity to submit this Proposal and looks forward to your favorable response. Please understand that this letter is not a fonnal commitment to extend a Note by the Lender, or any of its affiliates, but is merely intended for discussion purposes only in order to provide you with the basic tenns and conditions of our proposal, which are outlined above. The terms and conditions outlined in this Proposal are in effect for 30 days from the date ofthis letter. If you have any questions or need additional information, please do not hesif!!te to contact me at (239) 552-1819.

Respectfully,

•u:Attvtdul

'  1//J
,    /Lla_;.J--{;.;I:)· //

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I

(1'-· ·

itchell, SVP Director of Public Finance
Florida Community Bank, N.A. 2325 Vanderbilt Beach Road Naples, FL 34I09
(239) 552-1819
.imi1chel)@fcbl923.com

LeeAnne Kirwin Vice President
Florida Community Bank, N.A. 2325 Vanderbilt Beach Road Naples, FL 34 I 09
(239) 552-1879
lkirw inw1     fcb1923.com

fl - • :

Name: :s,.. •v:n µ ,-...,, ...- -c.r - ,

Title:

••.••

,2018.

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DoNALD W. MclNTOSH DATE:
AssoctATES, INc.

July 17, 2018

MEMORANDUM

TO:

FROM:

RE:

Boggy Creek Improvement District Board of Supervisors

Donald W. McIntosh Associates, Inc. District Engineer

Construction Contract Status

Dear Board Members,

Please accept this summary of our construction contract status. Listed below by project is a brief summary of recent contract activity. Copies of the latest Change Order logs  are attached.

CIVIL ENGINEERS

LAND PLANNERS

SURVEYORS

2200 Park Ave. North

Winter Park, FL

32789-2355

Fax407-644-8318

407-644-4068

Lake Nona Nemours Parkway West and Lift Station No. 10 - Jon M. Hall Company

Construction Status: Construction of Storm and sanitary pipes and manholes are substantially completed. The force main, reclaimed water mains and potable water mains are about 75% completed. The Contractor received the CFX pe1mit for the force main crossing SR 417 on June 7, 2018, and is scheduled to commence the installation of the casing on July 16, 2018. District Staff attended a meeting On June 28, 2018, with the City Water Reclamation Division staff at the Contractor's request to assist with coordination of the review of outstanding submittals for the lift station generator and related components. A partial submittal of the generator engine and alternator components was received by District Staff for review on July 7, 2018, and forwarded to the City for a courtesy review on July 11, 2018.

Change Order (C.O.) Status: Additive Change Order No. 7 (RCO No. 6) in the amount of
$27,142.20 and add 5 days to contract duration for plan revisions for utility stub-outs requested by the Town Center engineer dated April 20, 2018.

Recommended  Motion:	Approve Additive Change Order No. 7 in the amount of
$27,142.20 and add 5 days to contract duration and authorize District Engineer to execute Change Order when finalized.

Lake Nona Boulevard Traffic Signal Modifications at Tavistock Lakes Boulevard and Veterans Way - Roadway- Jon M. Hall Company

Construction Status: A Notice of Award was issued on January 30, 2018, to Jon M. Hall Company. Revised engineering plans were issued to the Contractor on April 3, 2018. Restriping at the transition lane bend is substantially complete. Work at Veterans Way commenced on June 26, 2018, and is scheduled for completion by July 31, 2018.

Change Order (C.O.) Status: None at this time.

Recommended Motion: None at this time.
F:\Proj2003\232 J 8\ENGadmin\C\ecl 559.docx

http://www.dwma.com

Memorandum
Re:		Boggy Creek Improvement District Construction Contract Status
July 17, 2018
Page 2

Lake Nona Boulevard Traffic Signal Modifications at Tavistock Lakes Boulevard and
I
Veterans Way- Signal -Traffic Control Devices

Construction Status: Both signals were substantially completed on May 18, 2018. The Contractor is awaiting the completion of the turn lane modification at Veterans Way to activate traffic signal. This is tentatively scheduled for August 1, 2018.

Change Order (C.O.) Status: None at this time.

Recommended Motion: None at this time.

Should there be any questions, please advise. Thank you.
End of memorandum.

c:		Larry Kaufmann Stephen Flint Scott Thacker Lance Jackson Robin Persad

F \ P  roi   200312i,l	tf 'W   ; 9 f\'ll'b1N  T O  S  H    Associates,   Inc.
2200 PARK AVENUE NORTH, WINTER PARK, FLORIDA 32789-2355 • [407) 644-4068 • FAX (407) 644-8318

LAKE NONA SOUTH
Boggy Creek Improvement District Nemours Parkway West and Lift Station No. 10
Jon M. Hall Company Change Order Log

C.0.#	·Date

1	2/20/2018     Change Order per revised plans 12/18/17 -	15	$14,124.25	Approved	$9,245,516.25	2/20/2018	2/20/2018 (RCO1)		1/4/18, and add 15 days

2/23/2018    Add Turn Lane Modifications at Tavistock	15	$132,054.00	Approved	$9,377,570.25	2/20/2018	2/20/2018 (RCO2)	Blvd and at Vetrans Way

(RCO5)

Direct Owner Purchase Materials - Mack 3/22/2018 $172,274.38, Ferguson $854,545.14, Rinker

0	($1,306,352.06)	Approved	$8,071,218.19	4/17/2018	4/17/2018	

10	

$132,157.52	

Approved	

$8,203,375.71	

6/19/2018	

6/19/2018	

0	

($103,532.32)	

Approved	

$8,099,843.39	

6/19/2018	

6/19/2018	

15	
$75.421.10	
Approved	
$8,175,264.49	
6/19/2018	
6/19/2018	

5	
$27,142.20	
Pending	
$8,202,406.69	
7/17/2018	

$279,532.54

Change order Per Plan Revision dated (RCO3)	2/20/2018 2/19/18. (For City requested changes to
access road and precast materials.)

§	5/4/2018	Change Subcontactor for Telecom Conduit (RCO7)		(telecom conduit to be funded by developer)

§	4/3/2018	Off-site road modifications per City plan (RCO4)		review comments.

7	5/4/2018	Utility stub-outs requested by the Town (RCO6)		Center engineer.

F:\FORMS\Construction\Logs\CDD LOGS	CO Nemours West Boggy	7/17/2018	Page 1

JON	JVI. HALL
COMPANY
Site Development Since 1974

(PROPOSAL DATE:	I5141201e	 	RCO#I006 Rev 1	

C/0:

		..	I	I	I	· .	..		
	
01		MOBILIZATION & GENERAL CONDITIONS					$	2,100.00	

Donald W. McIntosh Inc 2200 Park Ave North Winter Park, FL 32789-2355

PROJECT:

Lake Nona Nemours Pkwy West & Lift Station 10
OWNER: BCID

ATTN: Jeff Newton, P.E. EMAIL: jjnewton@dwma.com PHONE 407-644-4068

1.04	1.020	Survey & City Standard As-Buills	1	LS	$	1,080.00	$	1,080.00	
1.05	1,070	Construction Stakeout	1	LS	$	1,020.00	$	1,020.00	
02	Water				$	11,990.00)	

2.01	
8" DIP (w/Fillings )	
40	
LF	
$	43.95	
$	1,758.00	
2.02	8" Valves	6	EA	$	1,510.00	$	9,060.00	
2.03	Blow Off Assembly	2	EA	$	586.00	$	1,172.00	

03	
Reuse				$	12,s20.oo I	

3.01	
4" PVC C900 (w' Fillings )	
200	
LF	
$	21.00	
$	4,200.00	
3.02	4"Valves	4	EA	$	1,010.00	$	4,040.00	
3.03	8"Valves	2	EA	$	1,510.00	$	3,020.00	
3.04	Blow off Assembly	2	EA	$	630.00	$	1,260.00	

This Contract Change Order will change the Duration of this Project By:

[ !lfl9.ATIQtf$f•

 	SUBTOTAL		$	26,610.00 I

I

Bond Rate Added	 2%	$	532.20 
TOTAL	$	21,142.20
 	5	

Enter Qualifications here:
Pricing per plans dated 4-18-18

Please see below, for the running total of the Change Orders for this Project to date.

JON	M. I-IFILL
COMPANY
Site Development Since 1974

[PROPOSAL DATE:	}5/4/2018	RC0#}006 Rev 1

C/O:
Donald W. McIntosh Inc 2200 Park Ave North Winter Park, FL 32789-2355

PROJECT:

Lake Nona Nemours Pkwy West & Utt Station 10
OWNER: BCID

ATTN: Jeff Newton, P.E. EMAIL: jjnewton@dwma.com PHONE 407-644-4068

Slncerely,	Proposal Accepted By:
OWNER: BCID

f/4J1f	)-/-J -
Phillip Hartmann, Project Manager
Jon M. Hall Company
1920 Boothe Clrcle, Suffe 230
Longwood, FL 32750
Phone 407 215-0410
Fax	407 215-0411
www.jonmhallcompany.com
flast@jonmhallcompany.com

Date	Authorized Signature	Printed Name

I/We as authorized representative of the owner accept this proposal and quallflcatlons therein and direct Jon M Hall Company to proceed with the work. Client shall pay all attorneys fees associated with collectton of any unpaid balances.
Client shall pay Interest In the amount of 18% per annum on overdue balance. Payment Terms: Net 10 days from the date of the Invoice.

LAKE NONA SOUTH
Boggy Creek Improvement District
Lake Nona Blvd. Traffic Signal Modification at Tavistock Lakes Blvd and Veterans Way Roadway Change Order Log

Description .of ReVision•

"'· \

Jon M. Hall Company

F:\FORMS\Construction\Logs\CDD LOGS	CO LNB Traf Signal Rd Boggy (2)	7/17/2018	Page 1

LAKE NONA SOUTH
Boggy Creek Improvement District
Lake Nona Blvd. Traffic Signal Modification at Tavistock Lakes Blvd and Veterans Way - Signal Change Order Log

Traffic Control Devices

C.0.# ·	.	
Date.	
...	
Description of Revisi n.
..·	

.	,i;
.	Addltion l··l
·. .. Days • .·
•	'·	

						

						

						

F:\FORMS\Construction\Logs\CDD LOGS	CO LNB Traf Signal Boggy (3	7/17/2018	Page 1

BOGGY CREEK IMPROVEMENT DISTRICT

Resolution 2018-13,
Adopting the Fiscal Year 2019 Budget and Appropriating Funds

RESOLUTION 2018-13

THE ANNUAL APPROPRIATION RESOLUTION OF THE BOGGY CREEK IMPROVEMENT DISTRICT ("DISTRICT") RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGETS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2018, AND ENDING SEPTEMBER 30, 2019; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

)

WHEREAS, the District Manager has, prior to the fifteenth (15th day in June, 2018,
submitted to the Board of Supervisors ("Board") of the Boggy Creek Improvement District ("District") proposed budgets ("Proposed Budget") for the fiscal year beginning October 1, 2018 and ending September 30, 2019 ("Fiscal Year 2018/2019") along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and

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

WHEREAS, the Board set a public hearing thereon and caused notice of such public hearing to be given by publication pursuant to Section 190.008(2)(a), Florida Statutes; and

WHEREAS, the District Manager posted the Proposed Budget  on the District's website at least two days before the public hearing; and

WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior  to  October  pt of each year, the Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year; and

WHEREAS, the District Manager has prepared a Proposed Budget, whereby the budget shall project the cash receipts and disbursements anticipated during a given time period, including reserves for contingencies for emergency or other unanticipated expenditures during the fiscal year.

NOW,	THEREFORE,	BE	IT	RESOLVED	BY	THE	BOARD	OF SUPERVISORS OF THE BOGGY CREEK IMPROVEMENT DISTRICT:

SECTION 1. BUDGET

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 Local Records Office, and hereby approves certain amendments thereto, as shown in Section 2 below.

The Proposed Budget, attached hereto as Exhibit "A," as amended by the Board, is hereby adopted in accordance with the provisions of Section 190.008(2)(a), Florida Statutes ("Adopted Budget"), 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.

The Adopted Budget, as amended, shall be maintained in the office of the District Manager and at the District's Local Records Office and identified as "The Budget for the Boggy Creek Improvement District for the Fiscal Year Ending September 30, 2019."

The Adopted Budget shall be posted by the District Manager on the District's official website within thirty (30) days after adoption, and shall remain on the website for at least 2 years.

SECTION 2. APPROPRIATIONS

There is hereby appropriated out of the revenues of the District, for Fiscal Year 2018/2019,  the sum of$ 	to be raised by the levy of assessments and/or otherwise, 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 DEBT SERVICE FUND(S) TOTAL ALL FUNDS
SECTION 3. BUDGET AMENDMENTS

$ 	_

$ 	_

$------

Pursuant to Section 189.016, Florida Statutes, the District at any time within Fiscal Year 2018/2019 or within 60 days following the end of the Fiscal Year 2018/2019 may amend its Adopted 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.

By resolution, the Board may increase any appropriation item and/or fund to reflect receipt of any additional unbudgeted monies and make the corresponding change to appropriations or the unappropriated balance.

Any other budget amendments shall be adopted by resolution and consistent with Florida law.

The District Manager or Treasurer must establish administrative procedures to ensure that any budget amendments are in compliance with this Section 3 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 under subparagraphs c. and d. above are posted on the District's website within 5 days after adoption and remain on the website for at least 2 years.

SECTION 4. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 23rd DAY OF AUGUST, 2018.

ATTEST:		BOGGY CREEK IMPROVEMENT DISTRICT

Secretary/Assistant Secretary

By: 	_ Its: 		_

Boggy Creek Improvement District Adopted FY 2019 O&M Budget

FY 2018	FY 2019
Adopted Budget	Proposed Budget

Revenues

Off-Roll Assessments
Other Income & Other Financing Sources	$ 696,000.00	$ 812,894.77	
Net Revenues	$ 696,000.00	$	812,894.77	
General & Administrative Ex[!ense,; Legislative
Supervisor Fees	$	4,800.00	$	4,800.00
Financial & Administrative

Public Officials' Liability Insurance	3,575.00	3,575.00	
Trustee Services	2,000.00	2,000.00	
Management	35,000.00	37,500.00	
Engineering	10,000.00	10,000.00	
Engineering (Public Facilities Report)
Dissemination Agent	
5,000.00	
5,000.00	
District Counsel	30,000.00	30,000.00	
Assessment Administration	7,500.00	7,500.00	
Audit	3,840.00	3,900.00	
Arbitrage Calculation	1,200.00	1,200.00	
Travel and Per Diem	500.00	500.00	
Telephone	250.00	250.00	
Postage & Shipping	250.00	300.00	
Copies	1,500.00	2,500.00	
Legal Advertising	4,500.00	3,000.00	
Bank Fees	50.00	50.00	
Miscellaneous	3,000.00	1,000.00	
Web Site Maintenance	1,250.00	1,250.00	
Dues, Licenses, and Fees	175.00	175.00	
Total General & Administrative Expenses	$ 114,390.00	$ 114,500.00	

Page 1 of2

Boggy Creek Improvement District Adopted FY 2019 O&M Budget

Field O(lerations Ex(lenses	FY 2018
Adopted Budget	FY 2019
Proposed Budget	
Electric Utility Services
Electric	
$	2,000.00	
$	2,000.00	
Entry Lighting	500.00	500.00	
Water-Sewer Combination Services			
Water Reclaimed	20,000.00	35,000.00	
Stormwater Control
Mitigation Area	
5,000.00		
Aquatic Contract	5,000.00		
Other Physical Environment			
Equipment Rental	2,500.00		
General Insurance	4,050.00	4,050.00	
Property & Casualty	100.00	100.00	
Other Insurance	750.00	500.00	
Irrigation	40,000.00	30,000.00	
Landscaping Maintenance Contract	280,373.33	215,496.00	
Landscape Improvements	5,000.00	47,504.00	
Other Landscape Maintenance	5,000.00	40,000.00	
Flower & Plant Replacement	20,000.00		
Hurricane Cleanup		20,000.00	
Contingency	5,521.90	30,000.00	
Interchange Maintenance Expenses			
IME - Aquatics Maintenance	3,445.00	3,445.00	
IME - Irrigation	32,500.00	32,500.00	
IME - Landscaping	79,673.10	79,673.10	
IME - Lighting	2,437.50	20,000.00	
IME - Miscellaneous	812.50		
IME - Water Reclaimed	3,250.00	3,250.00	
Road & Street Facilities			
Entry and Wall Maintenance	5,000.00	10,000.00	
Streetlights	35,000,00	82,000.00	
Parks & Recreation
Personnel Leasing Agreement	1,320.00	20,000.00
Reserves
Infrastructure Capital Reserve	20,166.67	20,166.67	
Interchange Maintenance Reserve	2,360.00	2,360.00	
Total Field Operations Expenses	$ 581,760.00	$ 698,544.77	

Total Expenses	$    696,150.00	$ 813,044.77

Income (Loss) from Operations	$	(150.00)

-
$	(150.00)

Other Income {Ex(lense}
Interest Income	$	150.00	$	150.00	
Total Other Income (Expense)	$	150.00	$	150.00	

Net Income (Loss)	$	$

Page 2 of2

Boggy Creek Improvement District FY 2018-2019 Debt Service Budget
Series 2013 Special Assessment Bonds

	FY 2018-2019
Proposed Budget	
REVENUES:		
Special Assessments Series 2013	$	5,258,728.14	
TOTAL REVENUES	$	5,258,728.14	

EXPENDITURES:		
Series 2013 - Interest 11/01/2018	$1,304,696.88	
Series 2013 - Principal 05/01/2019	$1,380,000.00	
Series 2013 - Interest 05/01/2019	$1,304,696.88	
TOTAL EXPENDITURES	$	3,989,393.76	

EXCESS REVENUES	

$	1,269,334.38	

Series 2013 - Interest 11/01/2019	

$	1,269,334.38	

BOGGY CREEK IMPROVEMENT DISTRICT

Resolution 2018-14,
Imposing Special Assessments and Certifying an Assessment Roll

RESOLUTION 2018-14

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE BOGGY CREEK IMPROVEMENT DISTRICT MAKING A DETERMINATION OF BENEFIT AND IMPOSING SPECIAL ASSESSMENTS FOR FISCAL YEAR 2018/2019; PROVIDING FOR THE COLLECTION AND ENFORCEMENT OF SPECIAL ASSESSMENTS, INCLUDING BUT NOT LIMITED TO PENALTIES AND INTEREST THEREON; CERTIFYING AN ASSESSMENT ROLL; PROVIDING FOR AMENDMENTS TO THE ASSESSMENT ROLL; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Boggy Creek Improvement District ("District") is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, for the purpose of providing, operating and maintaining infrastructure improvements, facilities and services to the lands within the District; and

WHEREAS, the District is located in Orange County, Florida ("County"); and

WHEREAS, the District has constructed or acquired  various  infrastructure improvements and provides certain services in accordance with the District's adopted capital improvement plan and Chapter 190, Florida Statutes; and

WHEREAS, the Board of Supervisors ("Board") of the District hereby determines to undertake various operations and maintenance and other activities described in the District's budgets ("Adopted Budget") for the fiscal year beginning October 1, 2018 and ending  September 30, 2019 ("Fiscal Year 2018/2019"), attached hereto as Exhibit "A;" and

WHEREAS, the District must obtain sufficient funds to provide for the operation and maintenance of the services and facilities provided by the District as described in the Adopted Budget; and

WHEREAS, the provision of such services, facilities, and operations is a benefit to lands within the District; and

WHEREAS, Chapter 190, Florida Statutes, provides that the District  may  impose special assessments on benefitted lands within the District; and

WHEREAS, it is in the best interests of the District to proceed with the imposition of the special assessments for operations and maintenance in the amount set forth in the Adopted Budget; and

WHEREAS, the District has previously levied an assessment for debt service for its Series 2013 Bonds and its Series 2018 Note, which the District desires to collect for Fiscal Year 2018/2019; and

WHEREAS, it is in the best interests of the District to adopt the assessment roll ("Assessment Roll") attached to this Resolution as Exhibit "B," and to directly collect the special assessments as identified in the Assessment Roll; and

WHEREAS, it is in the best interests of the District to permit the District Manager to amend the Assessment Roll adopted herein, as the Property Appraiser updates the property roll for the County, for such time as authorized by Florida law.

NOW,	THEREFORE,	BE	IT	RESOLVED	BY	THE	BOARD	OF SUPERVISORS OF THE BOGGY CREEK IMPROVEMENT DISTRICT:

SECTION 1. BENEFIT & ALLOCATION FINDINGS. The Board hereby finds and determines that the provision of the services, facilities, and  operations  as  described  in  Exhibit "A" confers a special and peculiar  benefit  to the lands within the District,  which benefit  exceeds  or equals the cost of the assessments. The  allocation  of  the  assessments  to  the  specially  benefitted lands, as shown in Exhibits "A" and "B," is hereby found to be fair and reasonable.

SECTION 2. ASSESSMENT IMPOSITION. Pursuant to Chapters 170, 190 and 197, Florida Statutes, and using the  procedures  authorized  by Florida  law for the levy  and  collection  of special assessments, a special assessment  for  operation  and  maintenance  is  hereby  imposed and levied on benefitted lands within the District and in accordance with Exhibits "A" and "B."  The lien of the special assessments for operations and maintenance imposed and levied by this Resolution shall be effective upon passage of this Resolution. Moreover, pursuant to Section 197.3632(4), Florida Statutes, the lien amount shall serve  as the "maximum  rate"  authorized  by law for operation and maintenance assessments.

SECTION 3. COLLECTION AND ENFORCEMENT; PENALTIES; INTEREST.

Direct Bill Assessments. The operations and maintenance special assessments, and previously levied debt service special assessments for the Series 2013 Bonds, will be collected directly by the District in accordance with Florida law, as set forth in Exhibits "A" and "B." The operations and maintenance special assessments, and previously levied debt service special assessments for the Series 2013 Bonds directly collected by the District are due in full on December 1, 2018; provided, however, that, to the extent permitted by law, the assessments due may be paid in several partial, deferred payments and according to the following schedule: 50% due no later than December 1, 2018, 25% due no later than February 1, 2019 and 25% due no later than May 1, 2019. The previously levied debt service special assessments for the Series 2018 Note will be collected directly by the District in accordance with Florida law, as set forth in Exhibits "A" and "B." The previously levied debt service special assessments for the Series 2018 Note directly collected by the District shall be paid within thirty (30) days of receipt of a direct bill invoice from the District, which invoice shall be delivered to applicable landowners not later than October 1, 2018 and April 1, 2019, for the debt service payments due November 1, 2018, and May 1, 2019, respectively. In the event that an assessment payment is not made in accordance with the schedule stated above, the whole assessment - including any

remaining partial, deferred payments for Fiscal Year 2018/2019, shall immediately become due and payable; shall accrue interest, penalties in the amount of one percent (1%) per month, and all costs of collection and enforcement; and shall either be enforced pursuant to a foreclosure action, or, at the District's sole discretion, collected pursuant to the Unifo1m Method on a future tax bill, which amount may include penalties, interest, and costs of collection and enforcement. Any prejudgment interest on delinquent assessments shall accrue at the rate of any bonds secured by the assessments, or at the statutory prejudgment interest rate, as applicable. In the event an assessment subject to direct collection by the District shall be delinquent, the District Manager and District Counsel, without further authorization by the Board, may initiate foreclosure proceedings pursuant to Chapter 170, Florida Statutes, or other applicable law to collect and enforce the whole assessment, as set forth herein.

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. ASSESSMENT ROLL. The Assessment Roll, attached to this Resolution as Exhibit "B," is hereby certified for collection. The proceeds therefrom shall  be  paid  to  the District.

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, to the County property  roll.  After any amendment  of  the Assessment Roll, the District Manager shall file the updates in the District records.

SECTION 6. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity  or  enforceability  of  the  remaining portions of this Resolution, or any part thereof.

SECTION 7. EFFECTIVE DATE. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board.

PASSED AND ADOPTED this 23rd day of August, 2018.

ATTEST:	BOGGY CREEK IMPROVEMENT DISTRICT

Secretary / Assistant Secretary

By:  	

Its: 	_

Exhibit A:	Budget
Exhibit B:	Assessment Roll

Boggy Creek Improvement District Adopted FY 2019 O&M Budget

FY 2018	FY 2019
Adopted Budget	Proposed Budget

Off-Roll Assessments
Other Income & Other Financing Sources	$ 696,000.00	$ 812,894.77	
Net Revenues	$ 696,000.00	$	812,894.77	
General & Administrative Ex enses Legislative
Supervisor Fees	$	4,800.00	$	4,800.00
Financial & Administrative
Public Officials' Liability Insurance	3,575.00	3,575.00	
Trustee Services	2,000.00	2,000.00	
Management	35,000.00	37,500.00	
Engineering	10,000.00	10,000.00	
Engineering (Public Facilities Report)			
Dissemination Agent	5,000.00	5,000.00	
District Counsel	30,000.00	30,000.00	
Assessment Administration	7,500.00	7,500.00	
Audit	3,840.00	3,900.00	
Arbitrage Calculation	1,200.00	1,200.00	
Travel and Per Diem	500.00	500.00	
Telephone	250.00	250.00	
Postage & Shipping	250.00	300.00	
Copies	1,500.00	2,500.00	
Legal Advertising	4,500.00	3,000.00	
Bank Fees	50.00	50.00	
Miscellaneous	3,000.00	1,000.00	
Web Site Maintenance	1,250.00	1,250.00	
Dues, Licenses, and Fees	175.00	175.00	
Total General & Administrative Expenses	$ 114,390.00	$ 114,500.00	

Page 1 of 2

Boggy Creek Improvement District Adopted FY 2019 O&M Budget

FY 2018	FY 2019
Adopted Budget	Proposed Budget

Field OJlerations ExJlenses			
Electric Utility Services
Electric	
$	2,000.00	
$	2,000.00	
Entry Lighting	500.00	500.00	
Water-Sewer Combination Services			
Water Reclaimed	20,000.00	35,000.00	
Stormwater Control
Mitigation Area	
5,000.00		
Aquatic Contract	5,000.00		
Other Physical Environment
Equipment Rental	
2,500.00		
General Insurance	4,050.00	4,050.00	
Property & Casualty	100.00	100.00	
Other Insurance	750.00	500.00	
Irrigation	40,000.00	30,000.00	
Landscaping Maintenance Contract	280,373.33	215,496.00	
Landscape Improvements	5,000.00	47,504.00	
Other Landscape Maintenance	5,000.00	40,000.00	
Flower & Plant Replacement
Hurricane Cleanup	20,000.00	
20,000.00	
Contingency	5,521.90	30,000.00	
Interchange Maintenance Expenses			
IME - Aquatics Maintenance	3,445.00	3,445.00	
IME - Irrigation	32,500.00	32,500.00	
IME - Landscaping	79,673.10	79,673.10	
IME - Lighting	2,437.50	20,000.00	
IME - Miscellaneous	812.50		
IME - Water Reclaimed	3,250.00	3,250.00	
Road & Street Facilities
Entry and Wall Maintenance	
5,000.00	
10,000.00	
Streetlights	35,000.00	82,000.00	
Parks & Recreation
Personnel Leasing Agreement
Reserves	
1,320.00	
20,000.00	
Infrastructure Capital Reserve	20,166.67	20,166.67	
Interchange Maintenance Reserve	2,360.00	2,360.00	
Total Field Operations Expenses	$ 581,760.00	$ 698,544.77	

Total Expenses	
$ 696,150.00	
$ 813,044.77	
Income (Loss) from Operations	$	(150.00)	$	(150.00)	

Other Income {Ex)lense}
Interest Income	$	150.00	$	150.00

Total Other Income (Expense)	$	150.00	$	150.00

Net Income (Loss)	$	$

Page 2 of 2

Boggy Creek Improvement District FY 2018-2019 Assessment Roll

Parcel ID	
Acreage	
Owner	
Owner's Mailing Address	Assmt.
Method	
Units	
Unit Type	FY 18 -19 Bond
Assessment	FY 18-19 Bond
Assessment	FY18-190&M
Assessment	Total FY 18-19 CDD Assessment	
22-24-30-0000-00-006	186,89	Lake Nona Land Co., LLC	9801 Lake Nona Road, Orlando, FL 32827	Acreage	NIA	NIA	$861,855.17	21.62%	$135,085.65	$996,941	
25-24-30-0000-00-008	13.56	Lake Nona Land Co., LLC	9801 Lake Nona Road, Orlando, FL 32827	Acreage	NIA	NIA	$62,518.97	1.57%	$9,799.11	$72,318	

23-24-30-0000-00-009	
12.82	
Lake Nona Land Co., LLC	
9801 Lake Nona Road, Orlando, FL 32827	
Acreage	
NIA	
NIA	
$59,120.25	
1.48%	
$9,266.40	
$68,387	
23-24-30-4937-00-00]	0.57	Lake Nona Land Co., LLC	9801 Lake Nona Road, Orlando, FL 32827	Acreage	NIA	NIA	$2,628.59	
0,07%	$412.00	$3,041	
26-24-30-0000-00-014	319.33	Lake Nona Land Co., LLC	9801 Lake Nona Road, Orlando, FL 32827	Acreage	NIA	NIA	$1,472,610.68	36.94%	$230,814.39	$1,703,425	
26-24-30-0000-00-010	0.84	Lake Nona Land Co., LLC	9801 Lake Nona Road, Orlando, FL 32827	Acreage	NIA	NIA	$3,873.71	
0.10%	$607.16	$4,481	
25-24-30-0000-00-013	2.84	Lake Nona Land Co., LLC	9801 Lake Nona Road, Orlando, FL 32827	Acreage	NIA	NIA	$13,096.84	0.33%	$2,052.78	$15,150	
26-24-30-4932-02-000	11.40	Lake Nona Land Co., LLC	9801 Lake Nona Road, Orlando, FL 32827	Acreage	NIA	NIA	$52,571.83	1.32%	$8,240.02	$60,812	

26-24-30-0000-00-023	
36.75	
Lake Nona Research I, LLC	
9801 Lake Nona Road, Orlando, FL 32827	
Acreage	
NIA	
NIA	
$169,474.97	
4.25%	
$26,563.21	
$196,038	
26-24-30-0000-00-0]8	8,91	Lake Nona Land Co., LLC	9800 Lake Nona Road, Orlando, FL 32827	Acreage	NIA	NIA	$41,089.03	1.03%	$6,440.22	$47,529	
26-24-30-0000-00-022	136.71	Lake Nona Land Co., LLC	9801 Lake Nona Road, Orlando, FL 32827	Acreage	NIA	NIA	$630,446.89	15.81%	$98,815.13	$729,262	

26-24-30-4961-01-000	
12.17	Lake Nona Innovation Center
I,LLC	
9801 Lake Nona Road, Orlando, FL 32827	
SPMP	
92,210	Medical Research/
Campus (Sq.Ft.)	
$79,898.78	
2.00%	
$8,000.41	
$87,899	
26-24-30-4956-01-000*	4.69	LN Towncenter I, LLC	9801 Lake Nona Road, Orlando, FL 32827	SPMP	204	Hotel/Guest (Rooms)	$159,087.03	
3.99%	$15,929.68	
$175,017	
26-24-30-4956-01-000*	2.34	LN Towncenter I, LLC	9801 Lake Nona Road, Orlando, FL 32827	SPMP	76,231	Office (Sq.Ft.)	
$79,263.81	
1.99%	
$7,936.83	
$87,201	
26-24-30-4956-01-000*	0.36	LN Towncenter I, LLC	9801 Lake Nona Road, Orlando, FL 32827	SPMP	9,333	Retail (Sq.Ft.)	$12,130.39	
0.30%	$1,214.64	$13,345	
26-24-30-4956-01-000*	0.26	LN Towncenter I, LLC	9802 Lake Nona Road, Orlando, FL 32827	SPMP	6,700	Retail (Sq.Ft.)	$8,708.20		$871.97	$9,580	
26-24-30-4956-01-000*	0.27	LN Towncenter I, LLC	9803 Lake Nona Road, Orlando, FL 32827	SPMP	7,000	Retail (Sq.Ft.)	$9,098.11		
$911.01	
$10,009	

23-24-30-0000-00-006	
51.58	
Landport Land Holding, Inc.	
9350 Conroy Windermere Road, Windermere, FL 34786	
Acreage	
NIA	
NIA	
$237,864.46	
5.97%	
$37,282.45	
$275,147	

26-24-30-4932-02-001	
25.23	
University of Central Florida	Attn: General Counsel, Millican Hall, 4000 Central Florida
Blvd., Suite 360, Orlando, FL 32816-8000	
Acreage	
NIA	
NIA	
NIA	
0.00%	
$18,237.18	
$18,237	

26-24-30-8601-01-000	
5.25	University of Florida Foundation, Inc.	
1938 W. University Ave., Gainesville, FL 32603-1735	
SPMP	
105,482	Medical Research/
Campus (Sq.Ft.)	
NIA	
0.00%	
$9,151.93	
$9,152	

26-24-30-7650-02-000	
22.51	UCF Real Estate Foundation,
LLC	
12424 Research Park-way, Suite 140, Orlando, FL 32826	
Acreage	
NIA	
NIA	
NIA	
0.00%	
$16,270.42	
$16,270	

26-24-30-7650-01-000**	
18.27	UCF Real Estate Foundation,
LLC	
12424 Research Parh.-way, Suite 140, Orlando, FL 32826	
Acreage	
NIA	
NIA	
NIA	
0.00%	
$13,203.33	
$13,203	

26-24-30-7650-01-000*'	
9.22	UCF Real Estate Foundation,
LLC	
12424 Research Parkway, Suite 140, Orlando, FL 32826	
SPMP	
369,000	Medical Research/ Campus (Sq.Ft.)	
NIA	
0.00%	
$32,015.52	
$32,016	
25-24-30-6052-01-000''*	31.90	Nemours Foundation	10140 Centurion Parkway, Jacksonville, FL 32256	Acreage	NIA	NIA	NIA	0.00%	$23,056.70	$23,057	

25-24-30-6052-01-000*••	
26.67	
Nemours Foundation	
10140 Centurion Parkway, Jacksonville, FL 32256	
SPMP	
631,219	Hospital & Medical Office (Sq.Ft.)	
NIA	
0.00%	
$82,149.37	
$82,149	

25-24-30-6052-01-000***	
1.43	
Nemours Foundation	
10141 Centurion Parkway, Jacksonville, FL 32256	
SPMP	
40	
Hotel/Guest (Rooms)	
$31,193.54	
0.78%	
$3,123.47	
$3,123	

26-24-30-1445-0]-000	
12.00	Orange County BCC
(Burnham)	Real Estate Management Department, PO Box 1393,
Orlando, FL 32802	
SPMP	
178,000	Medical Research/
Campus (Sq.Ft.)	
NIA	
0,00%	
$15,443.80	
$15,444	
Grand Total	954.76				1,475,419		$3,986,531.26	99.55%	$812,894.77	$4,768,232	
*The total acreage count for Parcel ID 26-24-30-4956 01 000 is 7.91. The split of these 7.91 acres among the three identified unit types planned for this parcel is estimated.
**An SPMP has been approved for this property that includes 18.45% of the property owner1s entitlements as evidenced by recorded deed(s) and/or development agreement(s) between the property owner and the Developer. Thus, 18.45% of the acreage owned by this property owner will be considered developed and assessed based on the square footage outlined in an SPMP and the balance will be assessed on an acreage basis.
***This parcel has been split between the developed and undeveloped areas for purposes of assigning assessments. The developed portion will be assessed based on the development planned for this portion. The developed portion includes 631,219 square feet of of hospital space and 40 hotel rooms. The undeveloped acreage will be assessed on an equal per-acre basis along with all other undeveloped lands within the District.

BOGGY CREEK IMPROVEMENT	DISTRICT

Release/Termination of Easement Agreements (Burnham)
(provided under separate cover)

BOGGY CREEK IMPROVEMENT	DISTRICT

Requisition  Nos. 409 -	410
Approved in July 2018 in an amount totaling $730.56

BOGGY CREEK IMPROVEMENT DISTRICT
DISTRICT OFFICE• 12051 CORPORATE BLVD• ORLANDO, FL 32817 PHONE: (407) 382-3256 • FAX: (407) 382-3254

Requisition Recap For Board Approval

Attached please find the listing of requisitions approved to be paid from bond funds from July 1, 2018 through July 31, 2018. This does not include requisitions previously approved by the Board.

REQUISITION NO.	PAYEE	AMOUNT	
409	Boggy Creek Improvement District	$480.56	
 	410	Boggy Creek Improvement District	$250.00	
	$730.56	

EXHIBIT "A"
FORM OF REQUISITION

The undersigned, an Authorized Officer of Boggy Creek Improvement District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture from the District to U. S. Bank National Association  as trustee (the "Trustee"), dated as of December 1, 2010 (the "Master Indenture"), as amended and supplemented by the Second Supplemental Indenture  from the District  to the Trustee,  dated  as of April l, 2013 (the Master Indenture as amended and supplemented is hereinafter referred to as the "Indenture") (all capitalized terms used herein  shall  have  the  meaning  ascribed  to  such term in the Indenture);

Requisition Number: 409

Name of Payee: Boggy Creek Improvement District

Amount Payable: $480.56

Purpose for which  paid  or  incurred  (refer also  to specific contract  if amount is due and payable pursuant to a contract involving progress  payments, or, state Costs of Issuance, if applicable):

1. Reimbursement to District for City of Orlando Permit Fees on Lake Nona Lift Station No. 139 Project (BLD2018-13990), Paid from O&M Funds - $480.56

Fund or Account and subaccount, if any, from which disbursement to be made: 2013 Acquisition and Construction Account of the Acquisition and Construction Fund.

The undersigned hereby certifies that obligations in the stated amount  set forth  above have been incurred by the District, that each disbursement set forth above is a proper charge against the Acquisition and Constrnction Account, that each disbursement set forth above was incurred in connection with the acquisition and construction of the Project and each represents a Cost of the Project, and has not previously been paid.

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.

The undersigned hereby further ce1iifies that such requisition contains no item representing payment on account of any retained percentage which the District is at the date of such certificate entitled to retain.

No event has occurred and is continuing which constitutes an Event  of  Default,  as defined by the Master Indenture, or would constitute and Event of Default but  for  the requirement that notice be given or time elapse or both.

BCID Requisition  409: Boggy Creek Improvement District	July 13, 2018	Page 1 of2

   c1 t._ ::;

Attached hereto are originals of the invoice(s) from the vendor of the property acquired or services rendered with respect to which disbursement is hereby requested.

Bo ! : -	l   1-1.   1p_ 1:   emp	s k c t --­ 
 	.	p-t>
Authorized  Officer  r;:}Jamon V.e.11+uro. 	

CONSULTING ENGINEER'S APPROVAL FOR NON-COST OF ISSUANCE AND CAPITALIZED INTEREST REQUESTS ONLY

The undersigned Consulting Engineer hereby certifies that this disbursement is for  a Cost of-the Project and is  consistent  with:  (i)  the  applicable  acquisition  or  construction  contract;  (ii) the plans and specifications for the  po1iion  of  the  Project  with  respect  to  which  such disbursement is being made; and, (ii) the repo1i of the  District  Engineer  as such report shaJl have been amended or modified on the date hereof.

1l11.11r 

BCID Requisition 409: Boggy Creek  Improvement District	July 13, 2018	Page  2 of2

       ;'	J,,

EXHIBIT "A"
FORM OF REQUISITION

The undersigned, an Authorized Officer of Boggy Creek Improvement District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture from the District to U. S. Bank National  Association  as trustee (the "Trustee"), dated as of December 1, 2010 (the "Master Indenture"), as amended and supplemented by the Second Supplemental Indenture from the District  to the  Trustee,  dated  as of April l, 2013 (the Master Indenture as amended and supplemented is hereinafter referred to as the "Indenture") (all capitalized terms used herein  shall  have  the  meaning  ascribed  to  such term in the Indenture);

Requisition Number: 410

Name of Payee: Boggy Creek Improvement District

Amount Payable: $250.00

Purpose  for  which  paid  or  incurred  (refer also  to specific contract if amount is due and payable pursuant to a contract involving  progress  payments, or, state Costs of Issuance, if applicable):

1. Reimbursement to District for City of Orlando Engineering Plan Revision Fee on Nemours Parkway West and Lift Station No. 10 Project (ENG2017-00760), Paid from O&M Funds - $250.00

Fund or Account and subaccount, if any, from which disbursement to be made: 2013 Acquisition and Construction Account of the Acquisition and Construction Fund.

The undersigned hereby certifies that obligations in the stated amount  set forth  above have been incurred by the District, that each disbursement set forth above is a proper charge against the Acquisition and Construction Account, that each disbursement set fo1th above was incurred in connection with the acquisition and construction of the Project and each represents a Cost of the Project, and has not previously been paid.

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.

The undersigned hereby ftuther certifies that such requisition contains no  item representing payment on account of any retained percentage which the District is at the date of such certificate entitled to retain.

No event has occurred and is continuing which constitutes an Event  of  Default,  as defined by the Master Indenture, or would constitute and Event of Default but for  the  requirement that notice be given or time elapse or both.

BCID Requisition  410: Boggy Creek Improvement District	July 13, 2018	Page 1 of2

    ,i.tf	t L;

Attached hereto are originals of the invoice(s) from the vendor of the properly  acquired or services rendered with respect to which disbursement is hereby requested.
..-----· ,,
B.oggy- 1	_r ment j!cier_,.----
,	)	.  IS 
Authorized Officer c::DArnon V.uvf-u

CONSULTING ENGINEER'S APPROVAL FOR NON-COST OF ISSUANCE AND CAPITALIZED INTEREST REQUESTS ONLY

The undersigned Consulting Engineer hereby certifies that this disbursement is for a Cost' of-the Project and is consistent with: (i) the applicable acquisition or  construction  contract;  (ii) the plans and specifications for the portion of the Project with  respect  to  which  such disbursement is being made; and, (ii) the repo1i of the Distric;,Engineer as such report shall have been amended or modified on the date hereof.

f, Irv	

BCID Requisition  410: Boggy Creek Improvement District	July 13, 2018	Page 2 of2

s·, :'
,"i I·.

BOGGY CREEK IMPROVEMENT DISTRICT

Operation and Maintenance Expenditures Paid in July 2018 in an amount
totaling $53,314.73

BOGGY CREEK IMPROVEMENT DISTRICT
DISTRICT OFFICE• 12051 CORPORATE BLVD• ORLANDO, FL 32817 PHONE: (407) 382-3256 • FAX: (407) 382-3254

Operation and Maintenance Expenditures For Board Approval

Attached please find the check register listing Operations and Maintenance expenditures paid from July 1, 2018 through July 31, 2018. This does not include expenditures previously approved by the Board.

The total items being presented: $53,314.73

Approval of Expenditures:

Chairman

Vice Chairman

 		Assistant Secretary

8/12/18
10:37:09 AM

Boggy Creek Improvement District AP Check Register (Current by Bank) Check Dates: 7/1/2018 to 7/31/2018

Page: 1

Check No.	Date	Status	Vendor ID   Paiee Name	Amount	
BANK ID: SUN • CITY NATIONAL BANK	001-101-0000-00-01	
3226	07/04/18	p	CITYOR	City of Orlando	rt.i. lf DC\	$480.56	
3227	07/17/18	p	CAROL	Carol King Landscape Main!.		$418.25	
3228	07/17/18	p	MLM	Michael's Lighting Main!.		$81.25	
3229	07/31/18	p	VALLEY	BrightView Landscape Services		$38,195.75	
3230	07/31/18	p	CAROL	Carol King Landscape Maint.		$1,070.80	
3231	07/31/18	p	DONMC	Donald W. McIntosh Associates		$112.50	
3232	07/31/18	p	FISH	Fishkind & Associates, Inc.		$3,588.16	
3233	07/31/18	p	MLM	Michael's Lighting Main!.		$140.00	
3234	07/31/18	p	VENTUR	Venturesln.com		$105.00	
					BANK SUN REGISTER TOTAL:	$44,192.27	
					GRAND TOTAL :	$44,192.27	

·)
/l.LJ.919'.:' C 27
""	• "it>
ouc..  1  ,:; 9     i:;0	+
-j11-!.o f,J  G+

* Check Status Types: "P" • Printed ; "M" - Manual ; "V" - Void ( Void Date ); "A" - Application; "E" • EFT
** Denotes broken check sequence.

BOGGY CREEK IMPROVEMENT DISTRICT

Payment Authorization #360
6/29/2018

Item	Payee	lnvoiQe	General	
 	No.		Number	Fuild	

Carol King Landscape Maintenance
Interchange Irrigation Services	161135	$	285.00
Interchange Irrigation Services	161189	$	133 25
----:;
Michael's Lighting & Electric
Night Lighting Check 06/25i2016	6397	$	81.25

rlL c1:lfMJ 40	 	

TOTAL	$	499.50

(\   J.ec(efytaryIA ss·1·s·t.·c·.mt s·       ecrte ary·

Chairperson

'l1f\	i l

j\,A	\ ·\1i

 		------.

BOGGY CREEK IMPROVEMENT DISTRICT

Payment Authorization #361
7/13/2018

Item
No.	Payee
 		Invoice N1.Jmber	G.eneral Fund	
1		BrightView L,mdscape Servic				
		July Landscape Maintenance		5835586	$ 23,202.00	
		Landscape Improvements		5838015	12,475.()0	
		Controller #29 Rep Jr	,.	5838031	$	43225	
		Controfler #15 Repair		5838032	$	220.50	
		Controller #12 Repair		5838033	$	477.75	
		Controller #13 Repair		583M34	$	514;50	
		C.ontrollers #11 & #12 Repairs		5846277	$	165.00	
	,	Controller #28 Repair		q84(?478	$	423.50	
		Controller #30 Repair		5846279	$	285;25	

2		
Carol King La.ndscape Maintenance				
	lntercharige Landscape Replacement	161468	$	78S;80	
	Interchange Irrigation .Services	161484	$	285 00	
3	Donal W McIntosh A,ss.ociates			
	Engineering Services Throu h 06/15/2018	35297	$	112.50	
4	Fi hkind & Associate , Irie.			
	DM Fees.and Reimbursables:. July 2018	22972	$	3,588;16	
5	Michael's Lighting & Electric			
	Interchange Lighting Replacement	6436	$	140.00	

6		OU¢	?d	oVJ\1Ae	:Jtz/;8				

0

7	Acct: 2562183178; Service 05/02/2018 - 06/01/2018.

Veilturesln.coni	-.-.	$	,603.02	
	July Application Hosting	43810	$	105.00	

TOTAL	
$ 52,815.23	

r dc1K1Jlct:::>	 	
JJ,etary/Afsistant Secretary	Chairperson

.,, ,. ;:c·-1·,
\	c.'	=•

------·-----.	--

BOGGY CREEK IMPROVEMENT	DISTRICT

Recommendation of
Work Authorization/Proposed Services
(if applicable)

BOGGY CREEK IMPROVEMENT DISTRICT

Recommendation for Work Authorization/ Proposed Services

Project Name: Boggy Creek Improvement District Maps

Brief Description: Mapping of 2018 County Tax Parcels for Special Assessments

 Name  ofConsultantNendor:	Donald W. McIntosh Associates1 Inc.	

Is this work pursuant to an existing Agreement?	±	V	Yes
If so,  name and date of Agreement:	No t/l. 4:c,ili}J®@V

---	No

Is this project included  in the District Capital ImprovementPlan?	V	Yes	 		No

Are the services required contemplated in the Capital Improvement Plan?	Yes	 		No

Is this a continuation of previously authorized work?

V	Yes

---	No

Proposal attached:	Yes

---	No

Form of Agreement Utilized: _P_ro_.p_o_s_al 	_

Amount of Services:

Recommendation:

$  Lboo,':.!2-	
J

/	Approve	Deny

By:

Larry Kaufmann, Cl.{airman
Boggy Creek Improvement District Construction Committee

c:		Jennifer Walden Tucker Mackie Jeffrey Newton

,---

DONALD w. MCINTOSH
AssoclATEs, lruc.

Mr. Richard Levey, Chairman Board of Supervisors
Boggy Creek Improvement District
12051 Corporate Boulevard
Orlando, FL 32817

July 25, 2018

Subject:

Boggy Creek Improvement District
Assist with Mapping of Orange County Tax Parcels for 2018 Special Assessments
DWMAJobNo.18105(001)

Dear Mr. Levey:

CIVIL ENG'NEERS

LAND  PLAN JERS

SURVEYORS

As requested by Michelle Rencoret and Dan Byrnes, Donald W. McIntosh Associates, Inc. (DWMA) is pleased to submit for your consideration this work authorization to provide professional surveying services to the Boggy Creek Improvement District  ("CLIENT")  for the preparation of mapping of Lake Nona Land Company tax parcels within the Boggy Creek Improvement District based on information provided to DWMA from the Orange County Property Appraiser's (OCPA)  office ("Project").  This request  for services does not include the preparation of legal descriptions, review of legal descriptions prepared by others and the review of the deeds fo confirm the data provided by the OCPA is correct. All terms and conditions will remain as set forth in our Agreement for Engineering Services with Boggy Creek Improvement District dated September 8, 2003.

PROFESSIONAL SURVEYING & MAPPING

BOGGY CREEK IMPROVEMENT DISTRICT ASSIST WITH MAPPING TAX PARCELS - Preparation of mapping of Lake Nona Land Company tax parcels within the Boggy Creek Improvement District based on infonnation provided to DWMA from the Orange County Property Appraiser's (OCPA) office ("Project"). This request for services does not include the preparation of legal descriptions, review of legal descriptions prepared by others and the review of the deeds to confirm the data provided by the OCPA is correct. 001

TOTAL

$1,600.00

$1,600.00

2200 Park Ave. North

Winter Park, FL

32788-2355

Fax 407-644--8318

PAYMENT OF FEES & REIMBURSABLE EXPENSES

DWMA will be compensated for this work at the quoted lump sum amount or at the hourly rates and direct costs established pursuant to the Contract. This proposal  does  not include  any permitting fees that are the responsibility of the CLIENT. This change to the scope of work detailed herein does not preclude DWMA from receiving additional compensation for services beyond the proposal's written scope, especially changes to the project, plan or requested services beyond those listed herein.

F:\CONTRACT\Plcp13006.doc

407-644--4068

http://www.dwma.com

Boggy Creek Improvement District
Assist with Mapping of Orange County Tax Parcels for 2018 Special Assessments DWMA Job No. 18105 (001)
July 25, 2018
Page 2 of2

This Work Scope Authorization, together with the Contract, represents the entire understanding between Boggy Creek Improvement District and Donald W. McIntosh Associates, Inc. (Consultant) with regard to the referenced Work Authorization.

If you wish to accept this Work Authorization, please sign where indicated and return one complete copy to our office (executed electronic scanned copies are acceptable).  Upon receipt, we will promptly schedule our services.

Sincerely,
DON.')tD 'fi. MCINTOSH ASSOCIATES, INC.
)/
cott E. Grossman, PSM Sr. Vice-President

APPROVED AND ACCEPTED

[Signature]

Authorized Representative of Boggy Creek Improvement District

Date

PURSUANT TO FLORIDA STATUTE 558.003, AN INDIVIDUAL EMPLOYEE OR AGENT OF DONALD W. MCINTOSH ASSOCIATES, INC. MAY NOT BE HELD INDIVIDUALLY LIABLE FOR NEGLIGENCE.

F:\CONTRACT\P\cp13006,doc

DONALD W. MclNTOSH Associates, Inc.
2200 PARK AVENUE NORTH, WINTER PARK, FLORIDA 327B9-2355 • [407) 644-4068 • FAX [407) 644-8318

BOGGY CREEK IMPROVEMENT	DISTRICT

District's Financial Position and Budget to Actual YTD

Boggy Creek Improvement District
Statement of Activities As of?/31/2018

General	Debt Service	Capital Projects	General Long­
Term Debt

Total

Revenues

Off-Roll Assessments	$696,000.00				$696,000.00	
Other Income & Other Financing Sources	9.00				9.00	
Inter-Fund Transfers In	881.72				881.72	
Other Assessments		$3,986,415.16			3,986,415.16	
Inter-Fund Group Transfers In		(7,052.25)			(7,052.25)	
Debt Proceeds		38,415.18			38,415.18	
Developer Contributions			$2,560,145.98		2,560,145.98	
Other Income & Other Financing Sources			99,919.83		99,919.83	
Inter-Fund Transfers In			6,170.53		6,170.53	
Debt Proceeds			303,350.00		303,350.00	
Total Revenues	$696,890.72	$4,017,778.09	$2,969,586.34	$0.00	$7,684,255.15	

Expenses

Supervisor Fees	$3,600.00	$3,600.00	
Public Officials' Liability Insurance	3,250.00	3,250.00	
Trustee Services	2,693.75	2,693.75	
Management	29,166.70	29,166.70	
Engineering	9,066.25	9,066.25	
District Counsel	18,006.82	18,006.82	
Audit	3,823.00	3,823.00	
Travel and Per Diem	246.69	246.69	
Telephone	246.73	246.73	
Postage & Shipping	230.81	230.81	
Copies	1,662.00	1,662.00	
Legal Advertising	1,827.59	1,827.59	
Miscellaneous	689.99	689.99	
Web Site Maintenance	1,082.99	1,082.99	
Dues, Licenses, and Fees	175.00	175.00	
Electric	1,291.46	1,291.46	
Water Reclaimed	25,453.06	25,453.06	
General Insurance	3,672.00	3,672.00	
Property & Casualty	64.00	64.00	
Irrigation	24,080.82	24,080.82	

Page 1 of 2

Boggy Creek Improvement District
Statement of Activities As of 7/31/2018

	General	Debt Service	Capital Projects	General Long- Term Debt	Total	
Landscaping Maintenance & Material	232,320.00				232,320.00	
Landscape Improvements	9,652.60				9,652.60	
Flower & Plant Replacement	23,082.01				23,082.01	
Contingency	2,649.77				2,649.77	
IME - Aquatics Maintenance	2,170.96				2,170.96	
IME - Irrigation	1,882.55				1,882.55	
IME - Landscaping	60,692.68				60,692.68	
IME - Lighting	1,687.58				1,687.58	
IME - Water Reclaimed	1,015.64				1,015.64	
Streetlights	42,511.43				42,511.43	
Principal Payment - A3 Bond		$1,310,000.00			1,310,000.00	
Interest Payments - A1 bond		2,676,531.26			2,676,531.26	
Trustee Services			$7,000.00		7,000.00	
Management			202,500.00		202,500.00	
Engineering			337,969.02		337,969.02	
District Counsel			71,062.15		71,062.15	
Trustee Counsel			5,250.00		5,250.00	
Bond Counsel			26,000.00		26,000.00	
Legal Advertising			1,111.73		1,111.73	
Contingency			4,429,601.63		4,429,601.63	
Total Expenses	$507,994.88	$3,986,531.26	$5,080,494.53	$0.00	$9,575,020.67	

Other Revenues {ExElenses) & Gains {Losses)						
Interest Income	$68.27				$68.27	
Interest Income		$6,551.73			6,551.73	
Interest Income			$1,816.76		1,816.76	
Total Other Revenues (Expenses) & Gains (Losses)	$68.27	$6,551.73	$1,816.76	$0.00	$8,436.76	

Change In Net Assets	
$188,964.11	
$37,798.56	
($2,109,091.43)	
$0.00	
($1,882,328.76)	

Net Assets At Beginning Of Year	
($56,087.43)	
$3,954,738.62	
$1,968,118.75	
$0.00	
$5,866,769.94	

Net Assets At End Of Year	

$132,876.68	

$3,992,537.18	

($140,972.68)	

$0.00	

$3,984,441.18	

Page 2 of 2

Boggy Creek lmp'rovement District
Statement of Financial Position As of 7/31/2018

General	Debt Service	Capital Projects	General Long-	Total
Term Debt

Current Assets		Assets		
General Checking Account	$63,438.56				$63,438.56	
State Board of Administration	1,245.84				1,245.84	
Due From Other Funds	480.56				480.56	
Due From Other Governmental Units	15,431.01				15,431.01	
Prepaid Expenses	1,571.35				1,571.35	
Deposits	4,300.00				4,300.00	
General Reserve	0.88				0.88	
Infrastructure Capital Reserve	39,308.10				39,308.10	
Interchange Maintenance Reserve	7,100.38				7,100.38	
Debt Service Reserve Series 2013		$3,954,031.25			3,954,031.25	
Debt Service Reserve Series 2018		38,141.21			38,141.21	
Revenue Series 2013		90.75			90.75	
Interest Series 2018		273.97			273.97	
General Checking Account			$76,620.13		76,620.13	
Acquisition/Construction Series 2013			2,492.38		2,492.38	
Cost of Issuance Series 2018			30,039.90		30,039.90	
Total Current Assets	$132,876.68	$3,992,537.18	$109,152.41	$0.00	$4,234,566.27	

Investments

Amount Available in Debt Service Funds	$3,992,537.18	$3,992,537.18	
Amount To Be Provided	71,922,462.82	71,922,462.82	
Total Investments	$0.00	$0.00	$0.00	$75,915,000.00	$75,915,000.00

Total Assets	$132,876.68	$3,992,537.18	$109,152.41	$75,915,000.00	$80,149,566.27

Page 1 of 2

Boggy Creek Improvement District
Statement of Financial Position As of 7/31/2018

General	Debt Service	Capital Projects	General Long-	Total
Term Debt

 	Liabilities  and Net Assets	

Current Liabilities
Accounts Payable	$63,745.51	$63,745.51
Retainage Payable	185,899.02	185,899.02
Due To Other Funds	480.56	480.56
Total Current Liabilities	$0.00	$0.00	$250,125.09	$0.00	$250,125.09

Long Term Liabilities
Revenue Bonds Payable - Long-Term	$75,915,000.00	$75,915,000.00
Total Long Term Liabilities	$0.00	$0.00	$0.00	$75,915,000.00	$75,915,000.00

Total Liabilities	$0.00	$0.00	$250,125.09	$75,915,000.00	$76,165,125.09

Net Assets

Net Assets, Unrestricted	$69,306.58				$69,306.58	
Current Year Net Assets, Unrestricted	881.72				881.72	
Net Assets - General Government	(125,394.01)				(125,394.01)	
Current Year Net Assets - General Government	188,082.39				188,082.39	
Net Assets, Unrestricted		($4,119,295.41)			(4,119,295.41)	
Current Year Net Assets, Unrestricted		37,798.56			37,798.56	
Net Assets - General Government		8,074,034.03			8,074,034.03	
Net Assets, Unrestricted			($22,384,631.35)		(22,384,631.35)	
Net Assets, Unrestricted			(2,344,226.06)		(2,344,226.06)	
Current Year Net Assets, Unrestricted			(2,109,091.43)		(2,109,091.43)	
Net Assets - General Government			26,696,976.16		26,696,976.16	
Total Net Assets	$132,876.68	$3,992,537.18	($140,972.68)	$0.00	$3,984,441.18	
						
Total Liabilities and Net Assets	$132,876.68	$3,992,537.18	$109,152.41	$75,915,000.00	$80,149,566.27	

Page 2 of 2

Boggy Creek Improvement District
Budget to Actual
For the Month Ending 07/31/2018

YTD Actual	YTD Budget	YTD Variance	FY 2018
Adopted Budget

Revenues

Off-Roll Assessments	$	696,000.00	$	580,000.00	$	116,000.00	$	696,000.00	
Other Income & Other Financing Sources	9.00		9.00		
Net Revenues	$	696,009.00	$	580,000.00	$	116,009.00	$	696,000.00	

Supervisor Fees	$	3,600.00	$	4,000.00	$	(400.00)	$	4,800.00	

Public Officials' Liability Insurance	3,250.00	2,979.17	270.83	3,575.00	
Trustee Services	2,693.75	1,666.67	1,027.08	2,000.00	
Management	29,166.70	29,166.67	0.03	35,000.00	
Engineering	3,458.75	8,333.33	(4,874.58)	10,000.00	
Engineering (Public Facilities Report)	5,607.50		5,607.50		
Dissemination Agent		4,166.67	(4,166.67)	5,000.00	
District Counsel	18,006.82	25,000.00	(6,993.18)	30,000.00	
Assessment Administration		6,250.00	(6,250.00)	7,500.00	
Audit	3,823.00	3,200.00	623.00	3,840.00	
Arbitrage Calculation		1,000.00	(1,000.00)	1,200.00	
Travel and Per Diem	246.69	416.67	(169.98)	500.00	
Telephone	246.73	208.33	38.40	250.00	
Postage & Shipping	230.81	208.33	22.48	250.00	
Copies	1,662.00	1,250.00	412.00	1,500.00	
Legal Advertising	1,827.59	3,750.00	(1,922.41)	4,500.00	
Bank Fees		41.67	(41.67)	50.00	
Miscellaneous	689.99	2,500.00	(1,810.01)	3,000.00	
Web Site Maintenance	1,082.99	1,041.67	41.32	1,250.00	
Dues, Licenses, and Fees	175.00	145.83	29.17	175.00	
Total General & Administrative Expenses	$	75,768.32	$	95,325.00	$	(19,556.68)	$	114,390.00	

General & Administrative Ex enses Legislative

Financial & Administrative

Page 1 of 2

Boggy Creek Improvement District
Budget to Actual
For the Month Ending 07/31/2018

YTD Actual	YTD Budget	YTD Variance	FY 2018
Adopted Budget

Field Ogerations Exgenses Electric Utility Services
Electric	$	1,291.46	$	1,666.67	$	(375.21)	$	2,000.00
Entry Lighting	416.67	(416.67)	500.00
Water-Sewer Combination Services
Water Reclaimed	25,453.06	16,666.67	8,786.39	20,000.00	
Stormwater Control
Mitigation Area		
4,166.67	
(4,166.67)	
5,000.00	
Aquatic Contract		4,166.67	(4,166.67)	5,000.00	
Other Physical Environment
Equipment Rental		
2,083.33	
(2,083.33)	
2,500.00	
General Insurance	3,672.00	3,375.00	297.00	4,050.00	
Property & Casualty	64.00	83.33	(19.33)	100.00	
Other Insurance		625.00	(625.00)	750.00	
Irrigation	24,080.82	33,333.33	(9,252.51)	40,000.00	
Landscaping Maintenance & Material	232,320.00	233,644.44	(1,324.44)	280,373.33	
Landscape Improvements	9,652.60	4,166.67	5,485.93	5,000.00	
Tree Trimming		4,166.67	(4,166.67)	5,000.00	
Flower & Plant Replacement	23,082.01	16,666.67	6,415.34	20,000.00	
Contingency	2,649.77	4,601.58	(1,951.81)	5,521.90	
Interchange Maintenance Expenses					
IME - Aquatics Maintenance	2,170.96	2,870.83	(699.87)	3,445.00	
IME - Irrigation	1,882.55	27,083.33	(25,200.78)	32,500.00	
IME - Landscaping	60,692.68	66,394.25	(5,701.57)	79,673.10	
IME - Lighting	1,687.58	2,031.25	(343.67)	2,437.50	
IME - Miscellaneous		677.08	(677.08)	812.50	
IME - Water Reclaimed	1,015.64	2,708.33	(1,692.69)	3,250.00	
Road & Street Facilities
Entry and Wall Maintenance		
4,166.67	
(4,166.67)	
5,000.00	
Streetlights	42,511.43	29,166.67	13,344.76	35,000.00	
Parks & Recreation					
Personnel Leasing Agreement	1,100.00	(1,100.00)	1,320.00	
Reserves
Infrastructure Capital Reserve		
16,805.56	
(16,805.56)	
20,166.67	
Interchange Maintenance Reserve		1,966.67	(1,966.67)	2,360.00	
Total Field Operations Expenses	$	432,226.56	$	484,800.00	$	(52,573.44)	$	581,760.00	

Total Expenses	$	507,994.88	$	580,125.00	$	(72,130.12)	$	696,150.00

Income (Loss) from Operations	$	188,014.12	$	(125.00)	$	188,139.12

-
$	(150.00)

Other Income {Exgense}
Interest Income	$	68.27	$	125.00	$	(56.73)	$	150.00	
Total Other Income (Expense)	$	68.27	$	125.00	$	(56.73)	$	150.00	
Net Income (Loss)	$	188,082.39	$	$	188,082.39	$	

Page 2 of 2

Revenues
Off-Roll Assessments
Other Income & Other Financing Sources
Net Revenues

General & Administrative EXJ;!enses
Legislative
Supervisor Fees Financial & Administrative
Public Officials' Liability Insurance Trustee Services
Management Engineering
Engineering (Public Facilities Report) Dissemination Agent
District Counsel Assessment Administration Audit
Arbitrage Calculation Travel and Per Diem Telephone
Postage & Shipping Copies
Legal Advertising Bank Fees Miscellaneous
Web Site Maintenance Dues, Licenses, and Fees
Total General & Administrative Expenses

Field Operations
Electric Utility Services
Electric
Entry Lighting
Water-Sewer Combination Services
Water Reclaimed
Stormwater Control Mitigation Area Aquatic Contract

Boggy Creek Improvement District
Budget to Actual
For the Month Ending 07/31/2018

Oct-17	Nov-17	Dec-17	Jan-18	Feb-18	Mar-18	Apr-18	May-18	Jun-18	Jul-18	YTDActual	

$   56,905.41	$ 291,094.68	
$	$ 43,559.17	
$	1,958.98	
$ 128,481.92	
$	$ 168,249.63	
$	5,750.21	$	
$ 696,000.00	
				9.00		9.00	
$    56,905.41	$ 291,094.68	$	$ 43,559.17	$	1,958.98	$ 128,481.92	$	9.00	$ 168,249.63	$	5,750.21	$	$ 696,009.00	

$	400.00	$	400.00	
$	400.00	$	400.00	
$	800.00	
$	200.00	
$	400.00	$	400.00	
$	200.00	$	
$	3,600.00	

3,250.00						
3,250.00	
1,571.35					1,122.40	2,693.75	
2,916.67	2,916.67	2,916.67	2,916.67	2,916.67	2,916.67	2,916.67	2,916.67	2,916.67	2,916.67	29,166.70	
300.00	300.00	900.00	365.00	581.25	450.00	450.00	112.50	3,458.75	
	3,622.50	1,985.00					5,607.50	
	1,716.64	1,882.04	
1,877.80	
5,484.85	
2,673.60	
4,371.89	
18,006.82	
	
23.00	500.00			2,500.00	800.00		
3,823.00	

13.41	
13.41	17.69	
80.32	
49.62	
22.63	13.63	
17.99	17.99	
246.69	
	13.35	66.43	28.57	40.63	26.08	71.67	246.73	
3.22	31.26	88.82	20.70	6.58	29.00	26.60	24.63	230.81	
519.00	147.00	336.00	223.50	169.50	267.00	1,662.00	
248.75	200.67	196.25	196.25		400.67	196.25	200.00	188.75	1,827.59	
	
21.00				
668.99	
689.99	
120.00	105.00	105.00	105.00	105.00	105.00	105.00	122.99	105.00	105.00	1,082.99	
175.00						175.00	
$	8,681.77	$	4,457.97	$	9,185.08	$	8,323.65	$	7,171.04	$	9,794.58	$	6,938.51	$	7,631.97	$	9,666.30	$	3,917.45	$ 75,768.32	

$	$	

$	163.37	$	164.29	

$	161.22	

$	287.73	

$	$	343.86	

$	$	170.99	

$	1,291.46	
	
1,468.78	2,916.00	
3,650.43	
5,922.37	
7,883.34	
3,612.14	
25,453.06	

Page 1 of2

Other Physical Environment

Boggy Creek Improvement District
Budget to Actual
For the Month Ending 07/31/2018

YTDActual

-
3,672.00
64.00
-
24,080.82
232,320.00
9,652.60
-
23,082.01
2,649.77

2,170.96
1,882.55
60,692.68
1,687.58
-
1,015.64

-
42,511.43

-
-
-	
$  432,226.56

$   507 994.88	

$   188,014.12

$	68.27	
$	68.27	
$ 188,082.39	

Oct-17	Nov-17	Dec-17	Jan-18	Feb-18	Mar-18	Apr-18	May-18	Jun-18	Jul-18

Equipment Rental			
General Insurance	3,672.00		
Property & Casualty Insurance	64.00		
Other Insurance			
Irrigation		2,993.75	1,116.50	3,195.25	615.25	5,670.75	1,333.25	635.42	6,001.90	2,518.75	
Landscaping Maintenance & Material	23,202.00	23,202.00	23,502.00	23,202.00	23,202.00	23,202.00	23,202.00	23,202.00	23,202.00	23,202.00	
Landscape Improvements							9,652.60				
Tree Trimming											
Flower & Plant Replacement		1,440.00	4,489.41			300.00		1,805.00	2,572.60	12,475.00	
Contingency					1,339.77			1,310.00			
Interchange Maintenance Expenses											
IME - Aquatics Maintenance	271.37	271.37	271.37	271.37	271.37	271.37	271.37	271.37			
IME - Irrigation		1,654.00							135.93	92.62	
IME - Landscaping	6,639.42	6,639.42	6,639.42	6,639.42		13,278.85	6,639.42	7,555.60	6,405.75	255.38	
IME - Lighting			313.39	60,02	64.72	590.19	240.17	131.77	170.30	117.02	
IME - Miscellaneous											
IME • Water Reclaimed			5.16	68.40	69.29	317.77		302.29		252.73	
Road & Street Facilities											
Entry and Wall Maintenance											
Streetlights		162.50	8,005.69	4,514.94	4,829.33	10,009.74	81.25	10,035.07	162.50	4,710.41	
Parks & Recreation
Personnel Leasing Agreement
Reserves
Infrastructure Capital Reserve Interchange Maintenance Reserve
Total Field Operations Expenses	$ 33,848.79	$ 36,363.04	$ 45,975.09	$ 41,031.69	$ 34,203.38	$ 59,850.77	$ 41,420.06	$ 53,475.72	$ 38,650.98	$ 47,407.04	

Total Expenses	
$ 42,530.56	
$ 40,821.01	
$ 55,160.17	
$ 49,355.34	
$ 41,374.42	
$ 69,645.35	
$ 48,358.57	
$ 61,107.69	$ 48,317.28	$ 51,324.49	
Income (Loss) from Operations	$ 14,374.85	$ 250,273.67	$ (55,160.17)	$ (5,796.17)	$ (39,415.44)	$ 58,836.57	$ (48,349.57)	$ 107,141.94	$ (42,567.07)	$ (51,324.49)	
Other Income (Expense)
Interest Income	

$	5.57	

$	6.55	

$	6.80	

$	6.95	

$	5.98	

$	6.46	

$	6.78	

$	5.47	

$	5.52	

$	12.19	
Total Other Income (Expense)	$	5.57	$	6.55	$	6.80	$	6.95	$	5.98	$	6.46	$	6.78	$	5.47	$	5.52	$	12.19	
Net Income (Loss)	$ 14,380.42	$ 250,280.22	$ (55,153.37)	$ (5,789.22)	$ (39,409.46)	$ 58,843.03	$ (48,342.79)	$ 107,147.41	$ (42,561.55)	$ (51,312.30)	

Page 2 of 2

Boggy Creek Improvement District Construction Tracking - mid-August

Series 2018 Bond Issue	

Amount	
Original Construction Fund - Not To Exceed	$ 25,000,000.00	
Additions (Interest, Transfers from DSR, etc.)		
Cumulative Draws Through Prior Month		

Construction Funds Available	
$	25,000,000.00	

Requisitions This Month		
Requisition 2018-001: Tavistock Development Company	$	{2,560,145.98)	
Requisition 2018-002: Dix.Hite+ Partners	$	(170.00)	
Requisition 2018-003: Donald W. McIntosh Associates	$	(31,832.28)	
Requisition 2018-004: Ferguson Enterprises	$	(5,688.00)	
Requisition 2018-005: Hopping Green & Sams	$	{1,598.00)	
Requisition 2018-006: Jon M Hall Company	$	(933,796.14)	
Requisition 2018-007: LandDesign	$	(27,024.96)	
Requisition 2018-008: Orlando Sentinel	$	(149.81)	
Requisition 2018-009: Rinker	$	(24,093.44)	
Requisition 2018-010: Vanasse Hangen Brustlin	$	(15,563.80)	
Requisition 2018-011: Hopping Green & Sams	$	(799.00)	
Requisition 2018-012: Donald W. McIntosh Associates	$	(19,632.93)	

Total Requisitions This Month	----------
$	(3,620,494.34)	

Construction Funds Remaining	----------
$	21,379,505.66	

Committed Funding		
Lake Nona Nemours Parkway West and Lift Station No. 1O - Jon M. Hall Company	$	(5,568,377.17)	
Lake Nona Boulevard Traffic Signal Modifications at Tavistock Lakes Boulevard and Veterans Way- Traffic Control De	(40,025.00)	
Lake Nona Boulevard Traffic Signal Modifications at Tavistock Lakes Boulevard and Veterans Way- Jon M. Hall Comp	(132,054.00)	
Lake Nona Medical City Drive Phase 2 - Bids Due April 6, 2018		

Total Committed Funding	$	(5,740,456.17)	
(Net Uncommitted	1s,639,049.49 J	

August 13, 2018