Tohoqua Community

Development District

Agenda

March 7, 2018

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Tohoqua

Community Development District

135

W.

Central Phone:

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

February

28, 2018

Board of Tohoqua

Supervisors

Community

Development

District

Dear

Board

Members:

The	regular	meeting

District will  be  held

of  the  Board  of  Supervisors  of  Tohoqua	Community  Development	
Wednesday,  March  7,  2018 at  9:00  AM  at	the West  Osceola Branch	

Library, 305 Campus Street, meeting:

Kissimmee,

Florida.

Following

is

the

advance

agenda

for

the

1.

2.

3.

4.

5.

6.

7.

Roll Call

Public Comment Period

Approval of Minutes of the February 7, 2018 Meeting

Consideration of Resolution 2018-11 Approving the Conveyance

Consideration of Series 2018 Requisition #1

Authorization for Chairman/Vice Chairman to Sign Plat

Staff Reports

of

Real

Property

8.

A.	Attorney

B.	Engineer

C.	District Manager's Report

i.	Balance Sheet and Income Statement

ii.	Consideration of Funding Request #5

Other Business

9.

Supervisors

Requests

10.

Adjournment

The	second	order	of	business	is	the  Public  Comment  Period  where	the	public	
opportunity	to be heard on propositions coming before the Board as reflected on the	
and	any other items.							

has an agenda,

The third order of business is the approval minutes are enclosed for your review.

of

the

minutes

of

the

February

7,

2017

meeting.

The

The

fourth

order

of

business

is

the

consideration

of

Resolution

2018-11

approving

the

conveyance

of

real

property.

A

copy

of

the

Resolution

will

be

provided

under

separate

cover.

The fifth order of business	is the consideration of Series 2018 Requisition	#1.	A	
Requisition and supporting	documentation will be provided under separate	cover.	

copy

of

the

The sixth order of business is the authorization

final plat.  There is no back-up material

for

the

Chairman

or

Vice

Chairman

to

sign

the

The seventh order of business is the Staff Reports.

Section  1  includes  the  balance  sheet  and	income

consideration	of	Funding	Request	#5.	A	copy

documentation is enclosed for your review.

Section C is the	District Manager's Report.	
statement for  review.   Section  2  is  the	
of  the  funding	request  and  supporting	

The balance of the have any questions,

agenda please

will be discussed at the do not hesitate to contact

meeting. In the me.

meantime,

if

you

should

Sincerely,

George District

S. Flint

Manager

CC:

Jan A. Carpenter, District Counsel

Eric Warren, District Engineer

Mike Williams, Bond Counsel

Brett Sealy, Underwriter

Darrin Mossing, GMS

Enclosures

;

.....

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MINUTES OF MEETING

TOHOQUA

COMMUNITY DEVELOPMENT DISTRICT

The	Regular	Meeting

of

the	Board

of

Supervisors

of

the	Tohoqua	Community

Development District was  held	on	Wednesday,	February  7,  2018  at  9:00  a.m.,	at  the  West		
						
Osceola Branch Library, 305 Campus Street, Kissimmee, FL.			
Present and constituting a quorum were:				
Marcus Hooker			Vice Chairman			
Keith Trace			Assistant Secretary			
Kaitlyn Noyes			Assistant Secretary			
James Dowd			Assistant Secretary			
Also present were:						
George Flint			District Manager			
Andrew d' Adesky			District Counsel			
Eric Warren			District Engineer			
Mike Williams			Bond Counsel			
Justin Rowan			Underwriter			
Stacey Johnson			Trustee			
Monique Spotts			BMO			

FIRST

ORDER

OF

BUSINESS

Roll Call

were

Mr. Flint called the meeting to present, with the exception of Mr.

order at 9:00 a.m. and called the roll. All Supervisors Vidrine.

SECOND ORDER OF BUSINESS

There being none, the next item followed.

Public Comment Period

THIRD

ORDER

OF

BUSINESS

Approval of Minutes 2018 Meeting

of

the  January  3,

Mr. Flint:	Did the Board have any additions,	deletions or corrections to the minutes?		
				
not, we need a motion to approve them.			

If

February

7,

2018

TohoquaCDD

On MOTION by Mr. favor, the Minutes of as presented.

Trace, seconded by Mr. Hooker, with all in the January 3, 2018 Meeting were approved,

FOURTH ORDER OF BUSINESS			Consideration	of	Resolution   2018-10	
					Finalizing  the  Special  Assessments  and	
					Securing the Series 2018 Bonds	
Mr. d' Adesky:  I will introduce the Resolution and Justin will discuss the pricing.  This is	
a fairly stated finalization resolution.	It brings the special assessments	in	line with the actual	
pricing of the bonds.  We had our initial assessment resolutions and this just	confirms it with our	
Supplemental Assessment Resolution.	It was revised for the pricing and the updated Engineer's	
Report.  The amount is $2,165,000.  The Resolution is consistent with Chapters 170 and 190 of	
the  Florida  Statutes.   We  will  also  update  the  District's  lien  book  in  order  to  levy  those	
assessments.  Justin?										
Mr. Rowan:	I have a quick summary of the pricing.	I	don't know if anyone has any	
questions, but we successfully priced the bonds around January	18.	As Andrew mentioned, the	
principal amount was $2,165,000.	The proceeds, or uses of	funds,  went to  certain accounts	
including a Debt Service Reserve Fund, Capitalized Interest Account, which will pay interest on	
the bonds until November of this year.	It also includes Cost	of	Issuance and the remaining	
proceeds  towards  the  Project  Fund,  which  will  entirely  be  used  to	acquire  completed	
improvements, either at closing or shortly thereafter.  That amounted to $1,798,000.  As it relates	
to the interest rate and term, the bonds mature in May of 2048, which is	the final maturity.  We	
priced the bonds at two different terms; one with a 20-year term and one with a 30-year term.	
The blended interest rate or coupon came was 4.76%.  The handout I provided goes through the	
Amortization Schedule and various statistics on the bonds.  Rather than bore you with numbers, I	
will see if anyone has any questions.									
Mr.	Trace:  Why are there 20 and 30 year terms?						
Mr.	Rowan:	If we can price it that way and there's	a different appetite for different	
investors for different durations,  it ultimately allows the District	to achieve a lower coupon,	
because we are blending the lower rates rather than just going out with one term bond with a 30-	
year term.	So, when we can blend	a	10, 20 or 30-year term or 20 and a 30-year term, the	
ultimate interest rate is lower overall for the District, than if we just did a one term bond.	

2

February

7,

2018

TohoquaCDD

Mr.	Trace:  I was worried, because a $2 million issuance seemed small.		
Mr.	Rowan:	It is, but it depends on who is in the market, who is looking, who we think		
would have the most appetite for the bonds at that time and how they prefer or are willing to		
price it.  These terms will be					
				incorporated into the final Supplemental Assessment Methodology		
Report, which will be attached to this Assessment Resolution.		
Mr.	d'Adesky:  We would ask	for approval of Resolution 2018-10.		
Mr.		Hooker:	In the	Supplemental Engineer's Report, any improvements that either a		
						
mobility fee or utility credit are not a part	of this.  I noticed off-site utilities, which usually get		
credits, like on Cross Berry Parkway.					
Mr.		Warren:	There are none.	We	found out that there may be some landscaping that		
needs to be rectified, but none of that is planned to be part	of this.		
Mr.		Hooker:	$15  million in improvements and	$2 million in bonds are  going to be		
issued.  I just wanted to make sure that it was separate.			
Mr.	Flint:  It	gives the ability to amend the report in the future, if you need to.		
Mr.		Rowan:	So much of this project is going to	be developer funds and only a small		
portion are bond funds.						
Mr.	Flint:  Are there any other questions on the resolution?  The two exhibits are the First		
Supplemental  Engineer's  Report  and  Supplemental  Assessment  Methodology  reflecting  the		
actual pricing.							
		On MOTION by Mr. Trace, seconded by	Mr. Dowd, with all in		
		favor, Resolution 2018-10, Finalizing the Special Assessments and		
		Securing the Series 2018 Bonds, was adopted.		

FIFTH

ORDER

OF

BUSINESS

Consideration of Agreement with Osceola County Tax Collector Regarding the Use of the Uniform Method of Collection

Mr. Flint: using the uniform to use the tax bill into an agreement

We added an agreement with the Osceola County Tax Collector regarding method of collection. Previously, the Board held a Public Hearing to be able as the collection method. The statutes provide that we are required to enter with the Tax Collector and Property Appraiser. It specifies the fees that they

3

February 7, 2018	Tohoqua CDD		
			
can charge so there's no negotiation as far as the fee.   The agreement they provided is their		
standard agreement.	I think District Counsel reviewed it.		
Mr. d' Adesky:  We reviewed it and it is consistent with the statute.  They are charging		

the statutory percentage.

Mr.  Flint:	Are there  any questions on the  agreement?

approve it.

If

not,  we  need  a motion to

On MOTION by Mr. Trace, seconded by Mr. Hooker, with all in

favor, the Agreement with the Osceola County Tax Collector for
the Use of the Uniform Method of Collection was approved.

SIXTH ORDER OF BUSINESS	Staff Reports

A.	Attorney

Mr.

Mr.

Flint:  Andrew, do you have anything else?

d' Adesky:	Other than the bond report, we are working on some plat comments.

B.

Engineer

Mr. Flint:  Eric, do you have anything?

Mr.  Warren:	In terms of the project, there was progress with the first phase

paving.	Over the next month, we will start doing some of the closeouts and wrap it up

next 60 days.  I have nothing else, unless there are further questions on the report.

with the over the

C.

District Manager's Report

i.	Balance Sheet and Income Statement

Mr. Flint: You have the Balance Sheet and Income Statement through December 31, 2017. No action is required, but if the Board has any questions, we can discuss those.

ii.	Consideration of Funding Request #4

Mr.  Flint:	You have Funding Request #4, which includes management fees, District

Engineer,  District  Counsel  and  Board  of Supervisor  fees.	Are  there  any  questions  on  the

Funding Requests?  If not, we need a motion to approve it.

On MOTION by Mr. Trace, seconded by Mr. Dowd, with all in favor Funding Request #4 was approved.

4

February 7, 2018

SEVENTH ORDER OF BUSINESS	Other Business	
There being none, the next item followed.		
EIGHTH ORDER OF BUSINESS	Supervisors Requests	
There being none, the next item followed.		

TohoquaCDD

NINTH

ORDER

OF

BUSINESS

Adjournment

Mr.

Flint:

If

there's nothing further, we need a motion to adjourn.

On MOTION by Mr. Trace, seconded by Mr. Hooker, with all in favor, the meeting was adjourned.

Secretary/Assistant Secretary	Chairman/Vice Chairman	

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TOHOQUA
Community Development District

Unaudited Financial Reporting

January

31, 2018

•

•

•

•

•

•

•

•

•

G~S
Governmental
Management Services

•	•

-
•

1

2

3

4

Table of Contents

Balance Sheet

General Fund Income Statement

Month to Month

Developer Contribution Schedule

TOHOQUA

COMMUNITY DEVELOPMENT DISTRICT

BALANCE SHEET

January 31, 2018

ASSETS:

CASH

DUE FROM DEVELOPER

TOTAL ASSETS

LIABILITIES:

ACCOUNTS PAYABLE

FUND EQUITY:

FUND BALANCES:

ASSIGNED FOR CAPITAL PROJECTS

UNASSIGNED

TOTAL LIABILITIES & FUND EQUITY

General

Fund

$4,591

$19,466

$24,057

$17,449

$6,608

$24,057

REVENUES:

TOHOQUA

COMMUNITY DEVELOPMENT DISTRICT

GENERAL FUND

Statement of Revenues & Expenditures

For The Period Ending January 31, 2018

ADOPTED	PRORATED BUDGET

BUDGET	THRU 01/31/18

ACTUAL

THRU 01/31/18

VARIANCE

DEVELOPER CONTRIBUTIONS

TOTAL REVENUES

EXPENDITURES:

ADMINISTRATIVE:

SUPERVISOR FEES

FICA PAYABLE

ENGINEERING

ATTORNEY

MANAGEMENT FEES

INFORMATION TECHNOLOGY

TELEPHONE

POSTAGE

INSURANCE

PRINTING & BINDING

LEGAL ADVERTISING

OTHER CURRENT CHARGES

OFFICE SUPPLIES

DUES, LICENSE & SUBSCRITIONS

TOTAL EXPENDITURES

EXCESS REVENUES (EXPENDITURES)

FUND BALANCE· Beginning

FUND BALANCE· Ending

$98,199

$98,199

$9,600	
$734	
$12,000	
$25,	000	
$35,000	
$1,100	
$300	
$1,000	
$5,665	
$1,000	
$5,000	
$1,000	
$625	
$175	
$98,199	
	$0	
	$0	
	$0	

$32,733

$32,733

$3,200

$245

$4,000

$8,333

$11,667

$367

$100

$333

$5,665

$333

$1,667

$333

$208

$175

$36,626

$28,629	($4,104)	
$28,629	($4,104)	

$0	$3,200	
$0	$245	
$298	$3,703	
$4,071	$4,262	
$11,667	$0	
$769	($403)	
$0	$100	
$58	$275	
$5,000	$665	
$477	($144)	
$9,771	($8,105)	
$0	$333	
$109	$99	
$175	$0	
$32,395	$4,231	
($3,766)		
$10,374		
$6,608		

2

~

DEVELOPER COITTRIBUTIONS

TOTAL REVENUES

£XPENDmJAES·

AMINISJMIIVE

SUPERVISOR FEES

ACA EXPENSE

ENGINEERING

ATTORNEY

MANAGEMENT FEES

INFORMATION TECHNOLOGY

TELEPHONE

POSTAGE

INSURANCE

PRINTING & BINDING

LEGAL ADVERTISING

OTHER CURRENT CHARGES

OFFICE SUPPLIES

DUES, LICENSES &SUBSCRIPTIONS

TOTAL EXPENDITURES

EXCESS REVENUES (EXPENDITURES)

I

I

I

OCT

S9,l63

;'.9) 63

$0

so

$0

$1,943

$2,917

$100

$0

$13

$5,000

S252

$9,771

$0

$41

S17S

$20,212

($11,0491

NOV

$11,090

Sll,090

$0

$0

$29"

$1,074

S2,917

$41"

$0

$21

$0

$91

so

$0

$10

$0

$4,829

$6,260

CEC

S4,220

S4,220

$0

so

so

$27S

$2,917

$100

$0

$23

$0

$48

$0

$0

$SB

$0

$3,421

$799

	TOHOQUA			
COMMUNITY DEVELOPMENT DISTRICT			
JAN	FEB	MAR	APR		
S4,l57	$0	$0	$0		
$4,157	$0	!ii	so		
					
$0	$0	$0	so		
so	So	$0	so		
$0	$0	$0	so		
$780	$0	$0	$0		
$2,917	$0	$0	$0		
$151	$0	$0	$0		
$0	$0	$0	$0		
$0	$0	$0	$0		
$0	$0	$0	$0		
$87	$0	$0	$0		
$0	$0	so	$0		
$0	$0	$0	$0		
$0	$0	$0	$0		
$0	$0	$0	$0		
$3,933	$0	$0	$0		
$224	$0	$0	$0		

MAY

so

so

so

$0

so

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

JUN

$0

s o

$0

$0

$0

$0

so

$0

$0

$0

$0

$0

$0

so

$0

$0

$0

$0

JUL

$0

$0

$0

so

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

so

AUG

$0

so

so

so

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

SEPT

$0

$0

$0

$0

so

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

$0

TOTAL

$28,629

$28,629 1

so

so

$298

$4,071

$11,667

$769

$0
ssa

$5,000

S4n

$9,771

$0

$109

$175

$32,3951

!S3,766II

3

FUNDING

REQUEST

#

PREPARED DATE

	TOHOQUA					
	COMMUNITY DEVELOPMENT DISTRICT				
DEVELOPER						
	CONTRIBUTIONS/DUE FROM DEVELOPER				
PAYMENT	CHECK	TOTAL	GENERAL	GENERAL	OVER AND		
							
RECEIVED	AMOUNT	FUNDING	FUND	FUND	(SHORT)		

DATE		REQUEST	PORTION (FV17)	PORTION (FV18)	BALANCE DUE		

1	9/18/17	10/3/17		
				
1	10/25/17	11/17/17		
				
2	11/29/17			
3	12/27/17			
4	1/31/17			
IDUE FROM DEVELOPER			
TOTAL DEVELOPER CONTRIBUTIONS FV18		

$

$

$

$

$

$

15,665.00

5,342.94

-
-

21,007.94

$

$

$

$

$

$

15,665.00

5,342.94

11,089.54

4,219.68

4,156.93

40,474.09

$

$

$

$

$

$

10,000.00	$	
1,844.90	$	
-	$	
-	$	
-	$	
11,844.90	$	
	-	
	$	

5,665.00	$		
3,498.04	$		
11,089.54	$	11,089.54	
4,219.68	$	4,219.68	
4,156.93	$	4,156.93	
28,629.19	$	19,466.15	
28,629.19			

4

Tohoqua

Community Development District

	Payee	
1	Governmental Management Services	
	Inv# 5 •	
	Management Fees • February 2018	
2	Latham, Shuker, Eden & lteaudine, LLP	
	Inv# 79676 • Legal Counsel• January 2018	
3	Poulos & Bennett	
	Inv# 17·188{3)• Engineering Services• December 2017	
4	Supervisor Fees	
	February 7, 2018	
	James Dowd	
	Marcus Hooker	

FY18 Funding Request #5

February 28, 2018

General Fund

FY2018

$	3,026.37	
$	779.54	
$	2,987.50	
$	215.30	
$	215.30	

Please make check payable to:

Tohoqua Community Development District

135 West Central Blvd, Suite 320

Orlando, FL 32801

Total:	$	7,224.01		

Wire Funds To:

Tohoqua Community Development District SUnTrust Bank, NA

ABA# 061000104

Acct# 1000193640074

Contact: Kelly Lawler

(407) 237-1072

GMS-Central Florida, LLC

1001 Bradford Way

Kingston, TN 37763

Bill To:

TohoquaCDO

135 West Central Blvd.
Suite320
Orlando, FL 32801

RECEIVED

BY:___	_  _  _

Invoice

Invoice#: 5

Invoice Date: 2/1/18

Due Date: 2/1/18

Case:

P.O. Number.

		Description		
Management	- February 2018		
Fees			
Information		- February 2018		
Technology			
Office Supplies				
Postage				
Copies				

Hours/Qty	Rate	Amount		

2,916.66	2,9113.66		
100.00			
	100.00		
0.51	0.51		
4.25			
	4.25		
4.95			
	4.95		

Total

Payments/Credits

Balance Due

$3,026.37

$0.00

$3,026.37

LATHAM,

SHUKER, EDEN ATTORNEYS  AT

& BEAUDINE, LAW

LLP

l 11 N. MAGNOLIA AVE,	STE 1400	
ORLANDO, FLORIDA	32801	
POST OFFJCE BOX 3353	
ORLANDO, FLORIDA	32802	
TELEPHONE: (407) 481-5800	
FACSIMILE:  (407)48t-S801	

February 12, 2018

Tohoqua Community Development District

c/o GMS
135 West Central Blvd., Suite 320

Orlando, FL 32801

INVOICE

Matter ID: 8249-001

General

RECEIVED

4 2 l

BY:.	------

Invoice

#

79676

Federal

ID#

59•3366512

For

Professronal

Services Rendered:

01/16/2018	ACD	Prepare for & attend conference call on Tohoqua			
		Developer.	acquisition process with	1.40hr		

01/31/2018	ACD	Draft and transmit Resolution 2018-10.		1.40hr		
						
			Total			
For			Professional Services:		
Disbursements Incurred:				

$371.00

$371.00

$742.00

01/05/2018

01/18/2018

01/31/2018

Check	FEDEX; Invoice no.: 6-014-08833 -11.29;17	Sent to Photenie A.		
#44724				
Burnett				
w/Osceola County COD Department• from JoAnna			
	Sweeney w/LSEB		
Check# 44760 ANDREW D'ADESKY;Disbursement for			
	JAC/8249-001/Andrew		
d'AdeskyTravel to Board			
	meeting on 01.03.18			
Document Reproduction Expense			
		Total		
		Disbursements Incurred:		
	INVOICE SUMMARY			

$9.99

$23.65

$3.90

$37.54

____________ .,.._

Billed	2018		
Through: Janue.,y 31.			

For				
Professional Seivices:	2.80Hours	$742.00		
				
For				
				
Disbursements Incurred:		$37.54		
				
·			
---------------------:· -·	----------.--------·----		
New Charges this Invoice:			
	$779.54		
Previous Balance:	$3,291.32		
Less Payment and Credits Received:			
	$0.00		
			
Outstanding Balance:	$3,291.32		
Plus New Charges this Invoice:			
	$779.54		
			
Total Due:	$4,070.86		

Page 1

POULOS

Poulos & Bennett, LLC

2602 E. Livingston St.

Orlando, FL 32803

407-487-2594

Tohoqua COD			
District Manager			
135 W.			
Central Blvd., Suite 320		
Orlando, FL 32801		
Professional services for	the period ending: December 31,	2017	

RECEIVED

	BY:-----		
Invoice number	17-188(3)		
Date	01/30/2018		
			
Project  17-188 TOHOQUA COO		

Invoice Summary			
Descrip~ion			
.01	INTERIM CDD	ENGINEER		
				
.02	COD			
	ENGINEER SERVICES		
.9~	REIMBURSABLE EXPENSES		

	Contract	Percent	
	Amount	Complete	
	0.00	0.00	
	0.00	0.00	
	0.00	0.00	
Total	0.00		

Prior

Billed

297.50

0.00

0.00

297.50

Total

Billed

3,285.00

0.00

0.00

3,285.00

Remaining	Current		
Percent	Billed		
0.00	2,987.50		
0.00	0.00		
			
0.00	0.00		
	2,987.50		

	Hourly Tasks:				
.01	Interim COD	Engineer				
						
Practice Team Leader				
Principal					
COD Engineering report; COD Valldatlon hearing; Cost opinion		
for	Phase 1 Bonds; Report updates				
Aging Summary					
Invoice Number	Invoice Date	Outstanding	Current		
						
17-188(2)	12/29/2017	297.50			
17-188(3)	01/30/2018	~.987.50	2,987.50		
		Total	3,285.00	2,987.50		

Hours	Rate	Billed		
		Amount		
				
12.50	185.00	2,312.50		
3.00	225.00	675.00		

Phase subtotal			2,987.50		
					
		Invoice total	2,987.50		
					
Over30	Over60	Over 90	Over120		
297.50					
					
297.50	0.00	0.00	0.00		

Tohoqua

CDb

Net

30days

Invoice

date 01/30/2018

Page

1