Scenic Terrace South Community Development District
Meeting Agenda July 19, 2023
Scenic Terrace South
Community Development District

219 E. Livingston St., Orlando, Florida 32801 Phone: 407-841-5524 – Fax: 407-839-1526

July 12, 2023

Board of Supervisors Scenic Terrace South
Community Development District

Dear Board Members:

A regular Board of Supervisors meeting of the Scenic Terrace South Community Development District will be held on Wednesday, July 19, 2023 at 1:45 PM at 346 E. Central Ave., Winter Haven, FL 33880.

Zoom Video Link: https://us06web.zoom.us/j/89472110528
Zoom Call-In Number: 1-646-876-9923
Meeting ID: 894 7211 0528

Following is the advance agenda for the meeting:

Board of Supervisors Meeting

Roll Call
Public Comment Period (1Speakers will fill out a card and submit it to the District Manager prior to the beginning of the meeting)
Approval of Minutes of the May 17, 2023 Board of Supervisors Meeting
Presentation and Approval of Supplemental Assessment Methodology for Series 2023 Bonds dated July 19, 2023
Public Hearings
Public Hearing on the Adoption of the Fiscal Year 2024 Budget
Consideration of Resolution 2023-09 Adopting the District’s Fiscal Year 2024 Budget and Appropriating Funds
Public Hearing on the Imposition of Operations and Maintenance Special Assessments (to be continued to August 16, 2023)
Consideration of Resolution 2023-10 Continuing the Public Hearing Regarding the Imposition of Special Assessments for Fiscal Year 2023/2024
Public Hearing on the Imposition of Special Assessments on Boundary Amendment Parcels
Presentation of Engineer’s Report – Amended and Restated dated May 16, 2023

1 Comments will be limited to three (3) minutes
Presentation of Amended and Restated Mater Assessment Methodology dated May 17, 2023
Consideration of Resolution 2023-11 Levying Special Assessments
Public Hearing on the District’s Use of the Uniform Method of Levying, Collection & Enforcement of Non-Ad Valorem Assessments on Boundary Amendment Parcels
Consideration of Resolution 2023-12 Expressing the District’s Intent to Utilize the Uniform Method of Collection
Consideration of Resolution 2023-13 Designation of a Regular Monthly Meeting Date, Time, and Location for Fiscal Year 2024
Consideration of Resolution 2023-14 Designating a Date, Time, and Location for a Landowners’ Meeting and Election
Consideration of Proposal for Arbitrage Rebate Services for Series 2022 Project Bonds from AMTEC
Consideration of Non-Exclusive Perpetual Easement Agreement with Town of Lake Hamilton, Florida—ADDED
Acceptance of Fiscal Year 2022 Audit Report
Staff Reports
Attorney
Memo Regarding Ethics Training for Elected Officials
Engineer
Acceptance of Annual District Engineering Report
District Manager’s Report
Approval of Check Register
Balance Sheet & Income Statement
Other Business
Supervisors Requests and Audience Comments
Adjournment

MINUTES
MINUTES OF MEETING SCENIC TERRACE SOUTH
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Scenic Terrace South Community Development District was held Wednesday, May 17, 2023 at 1:45 p.m. at 346 E. Central Avenue, Winter Haven, Florida.

Present and constituting a quorum:

Patricia Hudson	Assistant Secretary
Daniel Arnette	Assistant Secretary
Chuck Cavaretta	Assistant Secretary Also present were:
Jill Burns	District Manager, GMS
Roy Van Wyk	District Counsel, KVW Law
Rey Malave by Zoom	District Engineer, Dewberry

FIRST ORDER OF BUSINESS	Roll Call
Ms. Burns called the meeting to order and called the roll. Three Board members were present constituting a quorum.

SECOND ORDER OF BUSNESS	Public Comment Period
Ms. Burns noted that there were no members of the public present at this time or via Zoom.

THIRD ORDER OF BUSINESS	Approval of Minutes of the April 19, 2023
Board of Supervisors Meetings
Ms. Burns presented the minutes from the April 19, 2023 Board of Supervisors meeting and asked for any changes or corrections from the Board.

May 17, 2023	Scenic Terrace South CDD

FOURTH ORDER OF BUSINESS	Presentation and Approval of Amended
and Restated Engineer’s Report dated May 16, 2023
Mr. Burns stated this is for the boundary amendment area and is similar to how we went through the process to levy assessments on the existing areas in the District. She stated now there are new lands that were added to the District and we have to go through the same process to be able to issue bonds on that new land that has been added to the District.
Mr. Malave stated also included in the agenda package there is a draft of the Engineer’s Report amended and restated dated May 16, 2023, the report basically provides a layout of all of the proposed capital improvement plans but the key elements is the revision of adding the additional land which now brings the number of acres of the property to 211 as shown in Table 1. The number of units pretty much stay the same and the details of all of the improvements are there. He noted the cost estimate is shown in exhibit number 7A & B and the cost is $40,593,501. This includes all of the phases and the number of lots in there with a total number of lots being 843. He stated again to the best of our knowledge and based on this information cost that this project is feasible currently most of it is under construction.
Mr. Van Wyk asked if there are any reasons why the project couldn’t be constructed as outlined in the report. Mr. Malave answered there are none. Mr. Van Wyk asked if the costs are reasonable and consistent with the market for this type of improvement in that area. Mr. Malave stated that is correct, I do agree with that. Mr. Van Wyk asked if the lot numbers can be confirmed. Mr. Cavaretta says they are correct, there are 744 plus adding 99.

FIFTH ORDER OF BUSINESS	Presentation and Approval of Amended
and Restated Master Assessment Methodology dated May 17, 2023 (to be provided under separate cover)
Ms. Burns stated the District previously approved the Master Assessment Methodology dated October 13, 2021. That master report established an assessment methodology for the District to follow that allocates debt to the parcels that benefit from the Capital Improvement Plan outlined in the Engineer’s Report. She stated this is an update to that report that now includes the boundary
May 17, 2023	Scenic Terrace South CDD

amendment area that Mr. Malave referenced in his report. She noted the Series 2022 bonds remain unchanged by this report so it has no bearing on the assessments that were already issued for the Series 2022 bonds.
Ms. Burns noted Table 1 is the development program with 293 40’ lots and 550 50’ lots for a total of 843 lots now in the District, that is the existing lots in the District plus the 99. Table 2 shows the capital improvement cost estimates from the Engineer’s Report that Rey just outlined
$40,593,501. Table 3 shows an estimated bond sizing of $47,660,000. Table 4 outlines the improvement cost per unit for both of those product types. Table 5 shows the par debt per unit for the single family 40’ lot it would be a total of $48,608 and the 50’ lot would be $60,760. Table 6 breaks down the net and gross annual debt assessment per unit. When taking in the account the early payment discounts and collection fees when collected on the Polk County Tax Bill, the gross annual debt assessment for a 40’ lot would be $3,277 and 50’ lot would be $4,034, again that is the most debt that we would issue for each of those product types. Table 7 is the preliminary assessment roll that allocates debt by acre to all of the parcels within the District. We have several property owners listed here. She noted the total number of acres listed in the District is now 211.11. There is also a legal description of the new amendment District that is attached to the report.
Mr. Van Wyk asked if the benefit received by the parcels is equal to or greater than the burden placed upon the parcels by the assessments. Ms. Burns stated yes, it is. Mr. Van Wyk asked if it is your opinion that the assessments as set forth in the report are fairly and reasonably a portion across the product types. Ms. Burns stated yes. Ms. Burns asked for any other questions.

SIXTH ORDER OF BUSINESS	Consideration  of  Notice  of  Boundary
Amendment
Ms. Burns stated this will be recorded in the public record to outline the new boundary of the District.

May 17, 2023	Scenic Terrace South CDD

SEVENTH ORDER OF BUSINESS	Consideration	of	Resolution	2023-05
Declaring Special Assessments on Boundary Amendment Parcels
Ms. Burns stated there were a few blanks in there that they will now fill in. When we were finalizing the agenda, we were still finalizing the Engineer’s Report and Methodology so we will go ahead and fill in the report names and all of the amounts in the reports that you just approved. She stated this will kick off the assessment process and the next resolution would be setting the public hearing.

EIGHTH ORDER OF BUSINESS	Consideration	of	Resolution	2023-06
Setting a Public Hearing on the Imposition of Special Assessments on Boundary Amendment Parcels
Ms. Burns stated this requires both mailed and published notices. She stated there is not time to make the deadline for the June meeting so suggest that we set that for July 19th at 1:45 p.m. and will also have the hearing that day to do the budget.

NINTH ORDER OF BUSINESS	Consideration	of	Resolution	2023-07
Setting a Public Hearing Expressing the District’s Intent to Utilize the Uniform Method of Levying, Collecting, and Enforcing Non-Ad Valorem Assessments on Boundary Amendment Parcels
Ms. Burns stated this will be the public hearing that will allow us to use the Polk County Tax Bill to collect our assessments when we are ready to do so. We have already gone through this process on the original District boundaries so this is just another hearing that will allow us to collect for those areas. She suggested the date of July 19th at 1:45 p.m. at this location.
May 17, 2023	Scenic Terrace South CDD

TENTH ORDER OF BUSINESS	Consideration	of	Resolution	2023-08
Appointing a Treasurer and Assistant Treasurers
Ms. Burns stated this is adding Darrin Mossing as a signer on the account. The other signers listed were previously on the account.

ELEVENTH ORDER OF BUSINESS	Staff Reports
Attorney
Mr. Van Wyk stated there have been some recent changes in state law regarding construction contracts. Once the governor signs the two bills that are pending in front of him, effective July we are going to have to make some modifications to the construction contracts. One, there is a new process setting forth a withhold at the end of the project after substantial completion and then there are new processes and procedures with the respect to bonds and recording and notice of bonds. I will do a summary and get it to you. The first one is going to be a little tricky because when we get down to substantial completion, we are going to be really tied to some tight days to make our claims for what is left and come up with cost estimates for that. He noted he will bring a summary of all of the bills that affect special Districts coming forward as soon as possible. Mr. Cavaretta asked when that goes into effect. Mr. Van Wyk noted they are looking at July.

Engineer
Consideration of Work Authorization for Annual Reporting Services from Dewberry
Mr. Van Wyk stated Rey left and this is his annual work authorization, each year we approve the rate schedule and the authorization to go ahead and do the reports for the District. Mr. Malave stated on this one because most of it is under construction, we are just going to basically
May 17, 2023	Scenic Terrace South CDD

look at it and come back with a report that says everything is under construction and will look at it better for next year.

District Manager’s Report
Approval of Check Register
Ms. Burns presented the check register that is included in the agenda package for the Board to review from January 1st through February 28th is $302,072.45. She asked for any questions on those, otherwise looking for a motion to approve.

Balance Sheet & Income Statement
Ms. Burns stated financial packets were included in the package for review. No action is necessary from the Board.

Ratification of Summary of Series 2022 Requisitions #149 to #157
Ms. Burns stated these requisitions have already been reviewed and approved by both the Chair and the Engineer and she was just looking for a motion to ratify.

Presentation of Number of Registered Voters – 0
Ms. Burns stated we are required to determine the number of registered voters within the District as of April 15th of each year. The reason why we track that information is for the threshold to turn over to residents once the District has been established for at least six years and has 250 registered voters then that starts our process for the following landowner’s election two seats turnover to residents. She stated it has to be both of those. Right now, there are no registered voters. We will report back but once we hit those thresholds, those seats will slowly start to turn over.
May 17, 2023	Scenic Terrace South CDD

TWELFTH ORDER OF BUSINESS	Other Business
There being no comments, the next item followed.

THIRTEENTH ORDER OF BUSINESS	Supervisors	Requests	and	Audience
Comments
There being no comments, the next item followed.

FOURTEENTH ORDER OF BUSINESS	Adjournment
Ms. Burns adjourned the meeting.

Secretary/Assistant Secretary	Chairman/Vice Chairman

Section IV

SUPPLMENTAL ASSESSMENT METHODOLOGY
FOR SERIES 2023 BONDS

FOR

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Date: July 19, 2023

Prepared by

Governmental Management Services – Central Florida, LLC 219 E. Livingston St.
Orlando, FL 32801
Table of Contents

Introduction	3
Purpose	3
Background	3
Special Benefits and General Benefits	4
Requirements of a Valid Assessment Methodology	4
Special Benefits Exceed the Costs Allocated	5
Assessment Methodology	5
Overview	5
Allocation of Debt	6
Allocation of Benefit	6
Lienability Test: Special and Peculiar Benefit to the Property	6
Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments	7
True-Up Mechanism	8
Assessment Roll	8
Appendix	9
Table 1: Development Program	9
Table 2: Capital Improvement Cost Estimates	10
Table 3: Bond Sizing	11
Table 4: Allocation of Improvement Costs	12
Table 5: Allocation of Total Par Debt to Each Product Type	13
Table 6: Par Debt and Annual Assessments	14
Table 7: Preliminary Assessment Roll	15
GMS-CF, LLC does not represent the Scenic Terrace South Community Development District as a Municipal Advisor or Securities Broker nor is GMS-CF, LLC registered to
provide such services as described in Section 15B of the Securities and Exchange Act of 1934, as amended. Similarly, GMS-CF, LLC
does not provide the Scenic Terrace South Community Development District with financial advisory services or offer investment advice in any form.
Introduction

The Scenic Terrace South Community Development District (the “District”) is a local unit of special-purpose government organized and existing under Chapter 190, Florida Statutes as amended. The District anticipates the issuance at this time of not to exceed $2,450,000 of tax-exempt bonds in one or more series (the “Bonds”) for the purpose of financing certain infrastructure improvements (“2023 Capital Improvement Plan”) within Phase 4 within the District more specifically described in the Engineer’s Report, dated October 13, 2021, which was amended on May 16, 2023, prepared by Dewberry Engineers Inc. as may be amended and supplemented from time to time (the “Engineer’s Report”). The District anticipates the construction of all or a portion of the Capital Improvements or Capital Improvement Plan (“Phase 4 Capital Improvements”) that benefit property owners within Phase 4 within the District.

Purpose

The Board of Supervisors (“Board”) of the District previously approved the Master Assessment Methodology, dated October 13, 2021, which was amended and restated on May 17, 2023 (the “Master Report”). The Master Report established an assessment methodology the District followed to allocate debt assessments to properties within the District benefiting benefitting from the District’s CIP. Such assessments secure repayment of the Bonds. The District also previously adopted as a supplement to the Master Report, at the time of the issuance of the District’s $22,350,000 Special Assessment Bonds, Series 2022 (“Series 2022 Bonds”), Supplemental Assessment Methodology report dated March 16, 2022 (“Series 2022 Supplemental Report”). The Series 2022 Bonds remain unchanged by this report. The Series 2022 Supplemental Report applied the methodology to the details of the Series 2022 Bonds to allocate debt assessments (“Series 2022 Assessments”) to properties within the District to secure the repayment of the Series 2022 Bonds.

The District intends to levy, impose and collect non ad valorem special assessments (“Special Assessments”) on the benefited lands within Phase 4 within the District securing repayment of the Bonds based on this Assessment Report. It is anticipated that all of the proposed Special Assessments will be collected through the Uniform Method of Collection described in Section 197.3632, Florida Statutes or any other legal means available to the District. It is not the intent of this Assessment Report to address any other assessments, if applicable, that may be levied by the District including those for maintenance and operation of the Bonds, a homeowner’s association, or any other unit of government.

Background

The District currently includes approximately 211.11 gross developable acres within the Town of Lake Hamilton, Florida, and Polk County. The development program for the District currently envisions approximately 843 residential units. The proposed development program is depicted in Table 1. It is recognized that such development plan may change, and this Assessment Report will be modified or supplemented accordingly.
The Phase 4 Capital Improvements contemplated by the District in the 2023 Capital Improvement Plan will provide facilities that benefit certain property within Phase 4 within the District. Specifically, the District will construct and/or acquire certain earthwork, roadway, stormwater, wastewater, potable & reclaimed systems, electrical undergrounding, landscape & hardscape, amenities, offsite improvements, professional fees and contingency. The acquisition and construction costs are summarized in Table 2.

The assessment methodology is a four-step process.

The District Engineer must first determine the public infrastructure improvements that may be provided by the District and the costs to implement the Phase 4 Capital Improvements.
The District Engineer determines the assessable acres that benefit from the District’s Phase 4 Capital Improvements.
A calculation is made to determine the funding amounts necessary to acquire and/or construct the Phase 4 Capital Improvements.
This amount is initially divided equally among the benefited properties on a prorated assessable acreage basis. Ultimately, as land is platted, this amount will be assigned to each of the benefited properties based on the number and type of platted units.

Special Benefits and General Benefits

Phase 4 Capital Improvements undertaken by the District create special and peculiar benefits to the property, different in kind and degree, for properties within its borders as well as general benefits to the public at large. However, as discussed within this Assessment Report, these general benefits are incidental in nature and are readily distinguishable from the special and peculiar benefits, which accrue to property within Phase 4 within the District. The implementation of the 2023 Capital Improvement Plan enables properties within the boundaries of the District to be developed. Without the District’s 2023 Capital Improvement Plan, there would be no infrastructure to support development of land within Phase 4 within the District. Without these improvements, development of the property within District would be prohibited by law.

The general public and property owners outside of Phase 4 within the District may benefit from the provision of the Phase 4 Capital Improvements. However, any such benefit will be incidental for the purpose of the 2023 Capital Improvement Plan, which is designed solely to meet the needs of property within Phase 4 within the District. Properties outside of the District’s Phase 4 boundaries do not depend upon the District’s Phase 4 Capital Improvements. The property owners within Phase 4 within the District are therefore receiving special benefits not received by the general public and those outside of the District’s boundaries.
Requirements of a Valid Assessment Methodology

There are two requirements under Florida law for a valid special assessment:

The properties must receive a special benefit from the Capital Improvements being paid for.
The assessments must be fairly and reasonably allocated or apportioned to the properties being assessed based on the special benefit such properties receive.

Florida law provides for a wide application of special assessments that meet these two characteristics of special assessments.

Special Benefits Will Equal or Exceed the Costs Allocated

The special benefits provided to the property within Phase 4 within the District will be equal to or greater than the costs associated with providing these benefits. The District Engineer estimates that the District’s 2023 Capital Improvement Plan that is necessary to support full development of property within Phase 4 within the District will cost approximately $5,003,427. The District’s Underwriter projects that financing costs required to fund the 2023 Capital Improvement Plan costs, the cost of issuance of the Bonds, the funding of a debt service reserve account and capitalized interest, will be approximately
$2,450,000. Without the 2023 Capital Improvement Plan, the property within Phase 4 within the District would not be able to be developed and occupied by future residents of the community.

Assessment Methodology

Overview

The District anticipates issuing approximately $2,450,000 in Bonds in one or more series to fund the District’s 2023 Capital Improvement Plan, provide for capitalized interest, a debt service reserve account and pay cost of issuance. It is the purpose of this Assessment Report to allocate the $2,450,000 in debt to the properties within Phase 4 within the District benefiting from the 2023 Capital Improvement Plan. This report will be supplemented to reflect actual bond terms.

Table 1 identifies the land uses and lot sizes in the development as identified by the Developer within Phase 4 within the District. The District has commissioned an Engineer’s Report that includes estimated construction costs for the Phase 4 Capital Improvements needed to support the development; these construction costs are outlined in Table 2. The Phase 4 Capital Improvements needed to support the development are described in detail in the Engineer’s Report and are estimated to cost $5,003,427. Based on the estimated costs, the size of the Bond issue under current market conditions needed to generate funds to pay for the Phase 4 Capital Improvements and related costs was determined by the
District’s Underwriter to total approximately $2,450,000. Table 3 shows the breakdown of the Bond sizing.

Allocation of Debt

Allocation of debt is a continuous process until the development plan for the District are completed. Until the platting process occurs, the Phase 4 Capital Improvements funded by District Bonds benefits all acres within Phase 4 within the District.

The initial assessments will be levied on an equal basis to all gross acreage within Phase 4 within the District. A fair and reasonable methodology allocates the debt incurred by the District proportionately to the properties receiving the special benefits. At this point all of the lands within Phase 4 within the District are benefiting from the Phase 4 Capital Improvements.

Once platting or the recording of a declaration of condominium of any portion of the District into individual lots or units (“Assigned Properties”) has begun, the Special Assessments will be levied to the Assigned Properties based on the benefits they receive, on a first platted, first assigned basis. The “Unassigned Properties” defined as property that has not been platted or subjected to a declaration of condominium, will continue to be assessed on a per acre basis. Eventually the development plan will be completed and the debt relating to the Bonds will be allocated to the assigned properties within Phase 4 within the District, which are the beneficiaries of the 2023 Capital Improvement Plan, as depicted in Table 5 and Table 6. If there are changes to development plan, a true up of the assessment will be calculated to determine if a debt reduction or true-up payment from the Developer is required. The process is outlined in Section 3.0.

The assignment of debt in this Assessment Report sets forth the process by which debt is apportioned. As mentioned herein, this Assessment Report will be supplemented from time to time.

Allocation of Benefit

The 2023 Capital Improvement Plan consists of earthwork, roadway, stormwater, wastewater, potable & reclaimed systems, electrical undergrounding, landscape & hardscape, amenities, offsite improvements, professional fees and contingency. There are two product types within the planned development. The single-family 40’ home has been set as the base unit and has been assigned one equivalent residential unit (“ERU”). Table 4 shows the allocation of benefit to the particular product type. It is important to note that the benefit derived from the Phase 4 Capital Improvements on a particular unit will exceed the cost that the unit will be paying for such benefits.

Lienability Test: Special and Peculiar Benefit to the Property

Construction and/or acquisition by the District of its proposed Phase 4 Capital Improvements will provide several types of systems, facilities, and services for its
residents. These include offsite improvements, stormwater management facilities, mass grading and master systems, utility facilities, roadways, entry features, and park and amenity features. The benefit from the Phase 4 Capital Improvements accrue in differing amounts and are somewhat dependent on the product type receiving the special benefits peculiar to that property type, which flow from the logical relationship of the Phase 4 Capital Improvements to the assigned properties.

Once these determinations are made, they are reviewed in the light of the special benefits peculiar to the property, which flow to the properties as a result of their logical connection from the Phase 4 Capital Improvements actually provided.

For the provision of the 2023 Capital Improvement Plan, the special and peculiar benefits are:

the added use of the property,
added enjoyment of the property, and
the increased marketability and value of the property.

These special and peculiar benefits are real and ascertainable but are not yet capable of being calculated as to value with mathematical certainty. However, each is more valuable than either the cost of, or the actual Special Assessment levied for the Improvement as allocated.

Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments

A reasonable estimate of the proportion of special and peculiar benefits received from the public improvements described in the 2023 Capital Improvement Plan is delineated in Table 5 (expressed as Allocation of Par Debt per Product Type). This is also shown on Table 7 depicting Allocation of Par Debt per Product Type.

The determination has been made that the duty to pay the non-ad valorem special assessments is fairly and reasonably apportioned because the special and peculiar benefits to the property derived from the acquisition and/or construction of the 2023 Capital Improvement Plan have been apportioned to the property within Phase 4 within the District according to reasonable estimates of the special and peculiar benefits provided consistent with the product type of assignable properties.

Accordingly, no acre or parcel of property within the boundaries of the District will have a lien for the payment of any Special Assessment more than the determined special benefit particular to that property and therefore, the debt allocation will not be increased more than the debt allocation set forth in this Assessment Report.

In accordance with the benefit allocation suggested for the product types in Table 4, a total debt per unit and an annual assessment per unit have been calculated for each product type (Table 6). These amounts represent the preliminary anticipated per unit debt
allocation assuming all anticipated assigned properties are built and sold as planned, and the entire proposed 2023 Capital Improvement Plan is constructed.

True Up Mechanism

Although the District does not process plats, declaration of condominiums, site plans or revisions thereto, it does have an important role to play during the course of platting and site planning. Whenever a plat, declaration of condominium or site plan is approved, the District must allocate a portion of its debt to the property according to this Assessment Report outlined herein (“Assigned Property”). In addition, the District must also prevent any buildup of debt on property or land that could be fully conveyed and/or platted without all of the debt being allocated (“Unassigned Property”). To preclude this, when platting for 25%, 50%, 75% and 100% of the units planned for platting has occurred within Phase 4 within the District, the District will determine the amount of anticipated Bond Special Assessment revenue that remains on the Unassigned Properties, taking into account the full development plan of the District. If the total anticipated Bond Special Assessment revenue to be generated from the Assigned and Unassigned Properties is greater than or equal to the maximum annual debt service then no debt reduction or true- up payment is required. In the case that the revenue generated is less then the required amount then a debt reduction or true-up payment by the landowner in the amount necessary to reduce the par amount of the outstanding Bonds plus accrued interest to a level that will be supported by the new net annual debt service assessments will be required.

If a true-up payment is made less than 45 days prior to an interest payment date, the amount of accrued interest will be calculated to the next succeeding interest payment date.

Assessment Roll

The District will initially distribute the Special Assessments across the property within Phase 4 within the District boundaries on a gross acreage basis. As Assigned Properties become known with certainty, the District will refine its allocation of debt from a per acre basis to a per unit basis as shown in Table 6. If the land use plan or product type changes, then the District will update Table 6 to reflect the changes as part of the foregoing true-up process. As a result, the assessment liens are not finalized with certainty on any acre of land in the District prior to the time final Assigned Properties become known. The preliminary assessment roll is attached as Table 7.

Land Use*	Units	ERUs per Unit (1)	Total ERUs	
Single Family	99	1	99	
Total Units	99		99	

(1) Benefit is allocated on an ERU basis; based on density of planned development, Single Family lot at 1 ERU

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Capital Improvement Plan ("CIP") (1)	Total Cost Estimate	
Earthwork	$	312,064	
Roadway	$	600,410	
Stormwater System	$	460,832	
Wastewater System	$	474,990	
Potable Water System	$	269,018	
Reclaimed Water Distribution System	$	171,996	
Electrical Undergrounding	$	235,191	
Landscape & Hardscape	$	288,068	
Amenities (Cababna, Tot Lots, and Recreation Areas)	$	199,597	
Offsite Improvements	$	1,122,897	
Professional Fees	$	413,506	
Contingency	$	454,857	
Total	$	5,003,427	

(1) A detailed description of these improvements is provided in the Engineer's Report dated October 13, 2021, Amended May 16, 2023.

Prepared by: Governmental Management Services - Central Florida, LLC

TABLE 3
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT BOND SIZING
SUPPLEMENTAL ASSESSMENT METHODOLOGY	DISTRICT			

Bond Sizing				
Description		Total		
Construction Funds	$		1,992,531	
Debt Service Reserve	$		173,250	
Capitalized Interest	$		35,219	
Underwriters Discount	$		49,000	
Cost of Issuance	$		200,000	
Par Amount*	$		2,450,000	

Bond Assumptions:				
Average Coupon
Amortization Capitalized Interest Debt Service Reserve Underwriters Discount			5.75%
30 years
12 Months Max Annual
2%	

* Par amount is subject to change based on the actual terms at the sale of the bonds Prepared by: Governmental Management Services - Central Florida, LLC

Land Use	No. of Units *	ERU Factor  Total ERUs
% of Total ERUs
Total Improvements Costs Per Product Type
Improvement Costs Per Unit

Single Family		99		1		99		100.00%	 $	5,003,427 	$	50,540	
		99				99		100.00%	 $	5,003,427 		

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Land Use	No. of Units *
Total Improvements Costs Per Product Type
Allocation of Par Debt Per Product
Type	Par Per Unit

Single Family		99	$	5,003,427	$	2,450,000	$	24,747 
	99	$	5,003,427	$	2,450,000	

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

	Net Annual	Gross Annual					
		Allocation of Par		Maximum	Debt	Debt	
		Debt Per Product	Total Par Debt	Annual Debt	Assessment	Assessment	
Land Use	No. of Units *	Type	Per Unit	Service	Per Unit	Per Unit (1)	
Single Family		99	$	2,450,000  $	24,747  $	173,250  $	1,750	$	1,882			
		99	$	2,450,000 	 $	173,250 					

(1) This amount includes estimated collection fees and early payment discounts when collected on the Polk County Tax Bill

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Owner	
Property ID #'s*	
Acres	Total Par Debt Allocation Per
Acre	
Total Par Debt Allocated	Net Annual Debt Assessment
Allocation	Gross Annual Debt Assessment
Allocation (1)	
ST DEV PARTNERS LLC	272809000000013020	10.28	$	119,163	$	1,225,000	$	86,625	$	93,145	
ST DEV PARTNERS LLC	272809000000011030	10.28	$	119,163	$	1,225,000	$	86,625	$	93,145	
Totals		20.56		$	2,450,000	$	173,250	$	186,290	

Annual Assessment Periods	30	
Projected Bond Rate (%)	5.75%	
Maximum Annual Debt Service	$173,250	
This amount includes estimated collection fees and early payment discounts when collected on the Polk County Tax Bill Prepared by: Governmental Management Services - Central Florida, LLC

Section V

Section A

Section 1
RESOLUTION 2023-09

THE ANNUAL APPROPRIATION RESOLUTION OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT (“DISTRICT”) RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGETS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2023, AND ENDING SEPTEMBER 30, 2024; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June, 2023, submitted to the Board of Supervisors (“Board”) of the Scenic Terrace South Community Development District (“District”) proposed budgets (“Proposed Budget”) for the fiscal year beginning October 1, 2023 and ending September 30, 2024 (“Fiscal Year 2023/2024”) 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 1st 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 SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT 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 Scenic
Terrace South Community Development District for the Fiscal Year Ending September 30, 2024.”

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 2023/2024, 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 (SERIES 2022)	$	

TOTAL ALL FUNDS	$	

SECTION 3.	BUDGET AMENDMENTS

Pursuant to Section 189.016, Florida Statutes, the District at any time within Fiscal Year 2023/2024 or within 60 days following the end of the Fiscal Year 2023/2024 may amend its Adopted Budget for that fiscal year as follows:

A line-item appropriation for expenditures within a fund may be decreased or increased by motion of the Board recorded in the minutes, and approving the expenditure, if the total appropriations of the fund do not increase.

The District Manager or Treasurer may approve an expenditure that would increase or decrease a line-item appropriation for expenditures within a fund if the total appropriations of the fund do not increase and if either (i) the aggregate change in the original appropriation item does not exceed the greater of $15,000 or 15% of the original appropriation, or (ii) such expenditure is authorized by separate disbursement or spending resolution.

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

The District Manager or Treasurer must ensure that any amendments to the budget under paragraph
c. above are posted on the District’s website within five (5) days after adoption and remain on the website for at least two (2) years.

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

PASSED AND ADOPTED THIS 19TH DAY OF JULY 2023.
ATTEST:	SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary
By:	 Its:	

Exhibit A:	Fiscal Year 2023/2024 Budget

Option A

Scenic Terrace South
Community Development District

Proposed Budget
FY2024

Table of Contents

1

2-6

7
General Fund

General Fund Narrative

Debt Service Fund - Series 2022

8	Amortization Schedule - Series 2022

Scenic Terrace South
Community Development District Proposed Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	5/31/23	4 Months	9/30/23	FY2024	

Revenues

Assessments - Tax Roll	$	-	$	98,192	$	-	$	98,192	$	656,325			
Assessnents - Direct	$	-	$	-	$	-	$	-	$	15,815			
Developer Contributions	$	417,811	$	13,000	$	64,269	$	77,269	$	-			
Boundary Amendment Contribution	$	-	$	17,722	$	-	$	17,722	$	-			
Total Revenues	$	417,811	$	128,914	$	64,269	$	193,182	$	672,141	

Expenditures						
General & Administrative
Supervisor Fees	
$	12,000	
$	4,400	
$	4,000	
$	8,400	
$	12,000	
Engineering	$	15,000	$	3,864	$	2,040	$	5,904	$	15,000	
Attorney	$	25,000	$	7,590	$	3,795	$	11,384	$	25,000	
Annual Audit	$	5,000	$	-	$	3,250	$	3,250	$	5,000	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000	
Arbitrage	$	500	$	-	$	450	$	450	$	500	
Dissemination	$	5,000	$	3,333	$	1,667	$	5,000	$	5,000	
Trustee Fees	$	4,041	$	4,041	$	-	$	4,041	$	4,041	
Management Fees	$	36,750	$	24,500	$	12,250	$	36,750	$	38,955	
Information Technology	$	1,800	$	1,200	$	600	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	800	$	400	$	1,200	$	1,200	
Postage & Delivery	$	1,000	$	143	$	346	$	489	$	1,000	
Insurance	$	5,000	$	5,000	$	-	$	5,000	$	6,575	
Copies	$	1,000	$	-	$	50	$	50	$	1,000	
Legal Advertising	$	18,500	$	7,037	$	7,252	$	14,290	$	6,500	
Boundary Amendment Expense	$	-	$	21,465	$	-	$	21,465	$	-	
Contingencies	$	5,300	$	-	$	1,000	$	1,000	$	5,300	
Office Supplies	$	625	$	12	$	8	$	20	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative	$	142,891	$	83,560	$	37,107	$	120,667	$	134,671	

Operations & Maintenance						
Field Services						
Property Insurance	$	5,000	$	-	$	-	$	-	$	7,500	
Field Management	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Landscape Maintenance	$	55,000	$	-	$	27,500	$	27,500	$	75,000	
Landscape Replacement	$	7,500	$	-	$	3,750	$	3,750	$	12,500	
Lake Maintenance	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Streetlights	$	12,000	$	-	$	6,000	$	6,000	$	30,000	
Electric	$	5,000	$	265	$	2,500	$	2,765	$	5,000	
Water & Sewer	$	5,000	$	-	$	2,500	$	2,500	$	-	
Sidewalk & Asphalt Maintenance	$	5,000	$	-	$	2,500	$	2,500	$	2,500	
Irrigation Repairs	$	5,000	$	-	$	2,500	$	2,500	$	10,000	
General Repairs & Maintenance	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Contingency	$	5,000	$	-	$	2,500	$	2,500	$	200,000	
Subtotal Field Expenses	$	149,500	$	265	$	72,250	$	72,515	$	387,500	
Scenic Terrace South
Community Development District Proposed Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	5/31/23	4 Months	9/30/23	FY2024	

Amenity Expenses						
Amenity - Electric	$	15,000	$	-	$	-	$	-	$	15,000	
Amenity - Water	$	10,000	$	-	$	-	$	-	$	7,500	
Playground Lease	$	25,000	$	-	$	-	$	-	$	50,000	
Internet	$	3,000	$	-	$	-	$	-	$	3,000	
Pest Control	$	720	$	-	$	-	$	-	$	720	
Janitorial Service	$	5,500	$	-	$	-	$	-	$	6,550	
Security Services	$	30,000	$	-	$	-	$	-	$	30,000	
Pool Maintenance	$	16,200	$	-	$	-	$	-	$	16,200	
Amenity Repairs & Maintenance	$	10,000	$	-	$	-	$	-	$	10,000	
Amenity Access Management	$	5,000	$	-	$	-	$	-	$	6,000	
Contingency	$	5,000	$	-	$	-	$	-	$	5,000	
Subtotal Amenity Expenses	$	125,420	$	-	$	-	$	-	$	149,970	
						
Total Operations & Maintenance	$	274,920	$	265	$	72,250	$	72,515	$	537,470	
						
Total Expenditures	$	417,811	$	83,825	$	109,357	$	193,182	$	672,141	
						
Excess Revenues/(Expenditures)	$	-	$	45,089	$	(45,089)	$	-	$	-	
						
Product	Assessable	ERU/Unit	Total ERU's	Net Assessment	Net Per Unit (7%)	Gross Per Unit	
Platted Lots	744	1.00	744.00	$656,325.22	$882.16	$948.56	
Unplatted - Admin Only	99	0.12	11.63	$15,815.41	$159.75	$171.78	
Total ERU's	843	755.63	$672,140.63			
Scenic Terrace South Community Development District General Fund Budget

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during the fiscal year.

Expenditures:

General & Administrative:

Supervisor Fees

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

Engineering

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

Attorney

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

Annual Audit

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

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

Dissemination

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

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.
Scenic Terrace South Community Development District General Fund Budget

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

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

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

Copies

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

Legal Advertising

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

Contingencies

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

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.
Scenic Terrace South Community Development District General Fund Budget

Operations & Maintenance:

Field Expenses

Property Insurance

The District’s property insurance coverages.

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Lake Maintenance

Represents the estimated maintenance of the lake within the common areas of the District.

Streetlights

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

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.
Scenic Terrace South Community Development District General Fund Budget

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Amenity Expenses

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Playground Lease

Represents the cost of the District leasing playground equipment for the fiscal year.

Internet

Internet service will be added for use at the Amenity Center.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities. Janitorial Services
Represents costs to provide janitorial services and supplies for the District’s amenity facilities. Security Services
Represents the cost of contracting a monthly security service for the District’s amenity facilities.

Pool Maintenance

Represents the costs of regular cleaning and treatments of the District’s pool.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Amenity Access Management

Represents the cost of managing the monitoring access to the District’s amenity facilities.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.
Scenic Terrace South
Community Development District

Proposed Budget Debt Service Fund Series 2022

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget					
	Description	FY2023	5/31/23	4 Months	9/30/23	FY2024					

Revenues											
Assessments		$	499,816	$	122,987	$	376,829	$	499,816	$	1,291,372					
Assesments - Prepayments	$	-	$	1,182,000	$	-	$	1,182,000	$	-						
Interest Income	$	-	$	48,286	$	24,143	$	72,429	$	-						
Carry Forward Surplus *	$	1,069,883	$	1,077,227	$	-	$	1,077,227	$	500,353						
Total Revenues	$	1,569,699	$	2,430,500	$	400,972	$	2,831,472	$	1,791,724						

Expenses											
Interest- 11/01	$	569,234	$	569,234	$	-	$	569,234	$	471,572						
Principal - 05/01	$	-	$	-	$	-	$	-	$	355,000	
Interest - 05/01	$	499,816	$	499,816	$	-	$	499,816	$	471,572	
Special Call - 08/01	$	-	$	-	$	1,265,000	$	1,265,000	$	-	
Total Expenditures	$	1,069,050	$	1,069,050	$	1,265,000	$	2,334,050	$	1,298,144						

Other Financing Sources/(Uses)											
Transfer In/(Out)	$	-	$	2,931	$	-	$	2,931	$	-						
Total Other Financing Sources/(Uses)	$	-	$	2,931	$	-	$	2,931	$	-						
											
Excess Revenues/(Expenditures)	$	500,649	$	1,364,381	$	(864,028)	$	500,353	$	493,581						

*Carry forward less amount in Reserve funds.											
				Series 2022 Interest - 11/01	
$464,916						
Product *	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit							
Single Family - 40'	546	$1,004,297	$1,839.37	$1,977.82							
Single Family - 50'	198	$287,074	$1,449.87	$1,559.00							
Total ERU's	744	$1,291,372									

(1) The per unit and total annual debt assessments reflected in this chart represent payment of full year of principal and interest.
Scenic Terrace South Community Development District Series 2022 Special Assessment Bonds Amortization Schedule

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Option B

Scenic Terrace South
Community Development District

Proposed Budget
FY2024

Table of Contents

1

2-6

7
General Fund

General Fund Narrative

Debt Service Fund - Series 2022

8	Amortization Schedule - Series 2022

Scenic Terrace South
Community Development District Proposed Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	5/31/23	4 Months	9/30/23	FY2024	

Revenues

Assessments - Tax Roll	$	-	$	98,192	$	-	$	98,192	$	471,325			
Assessnents - Direct	$	-	$	-	$	-	$	-	$	15,815			
Developer Contributions	$	417,811	$	13,000	$	64,269	$	77,269	$	-			
Boundary Amendment Contribution	$	-	$	17,722	$	-	$	17,722	$	-			
Total Revenues	$	417,811	$	128,914	$	64,269	$	193,182	$	487,141	

Expenditures						
General & Administrative
Supervisor Fees	
$	12,000	
$	4,400	
$	4,000	
$	8,400	
$	12,000	
Engineering	$	15,000	$	3,864	$	2,040	$	5,904	$	15,000	
Attorney	$	25,000	$	7,590	$	3,795	$	11,384	$	25,000	
Annual Audit	$	5,000	$	-	$	3,250	$	3,250	$	5,000	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000	
Arbitrage	$	500	$	-	$	450	$	450	$	500	
Dissemination	$	5,000	$	3,333	$	1,667	$	5,000	$	5,000	
Trustee Fees	$	4,041	$	4,041	$	-	$	4,041	$	4,041	
Management Fees	$	36,750	$	24,500	$	12,250	$	36,750	$	38,955	
Information Technology	$	1,800	$	1,200	$	600	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	800	$	400	$	1,200	$	1,200	
Postage & Delivery	$	1,000	$	143	$	346	$	489	$	1,000	
Insurance	$	5,000	$	5,000	$	-	$	5,000	$	6,575	
Copies	$	1,000	$	-	$	50	$	50	$	1,000	
Legal Advertising	$	18,500	$	7,037	$	7,252	$	14,290	$	6,500	
Boundary Amendment Expense	$	-	$	21,465	$	-	$	21,465	$	-	
Contingencies	$	5,300	$	-	$	1,000	$	1,000	$	5,300	
Office Supplies	$	625	$	12	$	8	$	20	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative	$	142,891	$	83,560	$	37,107	$	120,667	$	134,671	

Operations & Maintenance						
Field Services						
Property Insurance	$	5,000	$	-	$	-	$	-	$	7,500	
Field Management	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Landscape Maintenance	$	55,000	$	-	$	27,500	$	27,500	$	75,000	
Landscape Replacement	$	7,500	$	-	$	3,750	$	3,750	$	12,500	
Lake Maintenance	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Streetlights	$	12,000	$	-	$	6,000	$	6,000	$	30,000	
Electric	$	5,000	$	265	$	2,500	$	2,765	$	5,000	
Water & Sewer	$	5,000	$	-	$	2,500	$	2,500	$	-	
Sidewalk & Asphalt Maintenance	$	5,000	$	-	$	2,500	$	2,500	$	2,500	
Irrigation Repairs	$	5,000	$	-	$	2,500	$	2,500	$	10,000	
General Repairs & Maintenance	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Contingency	$	5,000	$	-	$	2,500	$	2,500	$	15,000	
Subtotal Field Expenses	$	149,500	$	265	$	72,250	$	72,515	$	202,500	
Scenic Terrace South
Community Development District Proposed Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	5/31/23	4 Months	9/30/23	FY2024	

Amenity Expenses						
Amenity - Electric	$	15,000	$	-	$	-	$	-	$	15,000	
Amenity - Water	$	10,000	$	-	$	-	$	-	$	7,500	
Playground Lease	$	25,000	$	-	$	-	$	-	$	50,000	
Internet	$	3,000	$	-	$	-	$	-	$	3,000	
Pest Control	$	720	$	-	$	-	$	-	$	720	
Janitorial Service	$	5,500	$	-	$	-	$	-	$	6,550	
Security Services	$	30,000	$	-	$	-	$	-	$	30,000	
Pool Maintenance	$	16,200	$	-	$	-	$	-	$	16,200	
Amenity Repairs & Maintenance	$	10,000	$	-	$	-	$	-	$	10,000	
Amenity Access Management	$	5,000	$	-	$	-	$	-	$	6,000	
Contingency	$	5,000	$	-	$	-	$	-	$	5,000	
Subtotal Amenity Expenses	$	125,420	$	-	$	-	$	-	$	149,970	
						
Total Operations & Maintenance	$	274,920	$	265	$	72,250	$	72,515	$	352,470	
						
Total Expenditures	$	417,811	$	83,825	$	109,357	$	193,182	$	487,141	
						
Excess Revenues/(Expenditures)	$	-	$	45,089	$	(45,089)	$	-	$	-	
						
Product	Assessable	ERU/Unit	Total ERU's	Net Assessment	Net Per Unit (7%)	Gross Per Unit	
Platted Lots	744	1.00	744.00	$471,325.22	$633.50	$681.18	
Unplatted - Admin Only	99	0.12	11.63	$15,815.41	$159.75	$171.78	
Total ERU's	843	755.63	$487,140.63			
Scenic Terrace South Community Development District General Fund Budget

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during the fiscal year.

Expenditures:

General & Administrative:

Supervisor Fees

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

Engineering

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

Attorney

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

Annual Audit

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

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

Dissemination

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

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.
Scenic Terrace South Community Development District General Fund Budget

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

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

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

Copies

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

Legal Advertising

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

Contingencies

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

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.
Scenic Terrace South Community Development District General Fund Budget

Operations & Maintenance:

Field Expenses

Property Insurance

The District’s property insurance coverages.

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Lake Maintenance

Represents the estimated maintenance of the lake within the common areas of the District.

Streetlights

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

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.
Scenic Terrace South Community Development District General Fund Budget

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Amenity Expenses

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Playground Lease

Represents the cost of the District leasing playground equipment for the fiscal year.

Internet

Internet service will be added for use at the Amenity Center.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities. Janitorial Services
Represents costs to provide janitorial services and supplies for the District’s amenity facilities. Security Services
Represents the cost of contracting a monthly security service for the District’s amenity facilities.

Pool Maintenance

Represents the costs of regular cleaning and treatments of the District’s pool.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Amenity Access Management

Represents the cost of managing the monitoring access to the District’s amenity facilities.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.
Scenic Terrace South
Community Development District

#REF!
Debt Service Fund Series 2022

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	#REF!
Budget					
	Description	FY2023	5/31/23	4 Months	9/30/23	#REF!					

Revenues											
Assessments		$	499,816	$	122,987	$	376,829	$	499,816	$	1,291,372					
Assesments - Prepayments	$	-	$	1,182,000	$	-	$	1,182,000	$	-						
Interest Income	$	-	$	48,286	$	24,143	$	72,429	$	-						
Carry Forward Surplus *	$	1,069,883	$	1,077,227	$	-	$	1,077,227	$	500,353						
Total Revenues	$	1,569,699	$	2,430,500	$	400,972	$	2,831,472	$	1,791,724						

Expenses											
Interest- 11/01	$	569,234	$	569,234	$	-	$	569,234	$	471,572						
Principal - 05/01	$	-	$	-	$	-	$	-	$	355,000	
Interest - 05/01	$	499,816	$	499,816	$	-	$	499,816	$	471,572	
Special Call - 08/01	$	-	$	-	$	1,265,000	$	1,265,000	$	-	
Total Expenditures	$	1,069,050	$	1,069,050	$	1,265,000	$	2,334,050	$	1,298,144						

Other Financing Sources/(Uses)											
Transfer In/(Out)	$	-	$	2,931	$	-	$	2,931	$	-						
Total Other Financing Sources/(Uses)	$	-	$	2,931	$	-	$	2,931	$	-						
											
Excess Revenues/(Expenditures)	$	500,649	$	1,364,381	$	(864,028)	$	500,353	$	493,581						

*Carry forward less amount in Reserve funds.											
				Series 2022 Interest - 11/01	
$464,916						
Product *	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit							
Single Family - 40'	546	$1,004,297	$1,839.37	$1,977.82							
Single Family - 50'	198	$287,074	$1,449.87	$1,559.00							
Total ERU's	744	$1,291,372									

(1) The per unit and total annual debt assessments reflected in this chart represent payment of full year of principal and interest.
Scenic Terrace South Community Development District Series 2022 Special Assessment Bonds Amortization Schedule

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

Section B

Section 1
RESOLUTION 2023-10

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT CONTINUING THE PUBLIC HEARING REGARDING THE IMPOSITION OF SPECIAL ASSESSMENTS FOR FISCAL YEAR 2023/2024; PROVIDING FOR THE ADOPTION OF THE FINDINGS OF RESOLUTION 2023-02; PROVIDING FOR CONTINUATION OF PUBLIC HEARING; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Scenic Terrace South Community Development 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 Town Council of the Town of Lake Hamilton, Florida adopted Ordinance O-21- 19 establishing the District, effective October 5, 2021 (the “Establishing Ordinance”), as amended by Ordinance O-23-05, effective on May 2, 2023 (the “Expansion Ordinance,” and together with the Establishing Ordinance, the “Ordinance”), amending the external boundaries of the District to include an additional 30.182 acres of land, more or less (the “Expansion Parcels”). 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 budget (“Adopted Budget”) for the fiscal year beginning October 1, 2023 and ending September 30, 2024 (“Fiscal Year 2023/2024”), attached hereto as Exhibit “A;” and

WHEREAS, the District previously adopted Resolution 2023-02 declaring special assessments upon the lands located within the District described in the Establishing Ordinance; and

WHEREAS, the District desires to amend Resolution 2023-02 to include the Expansion Parcels;
and

WHEREAS, pursuant to Resolution 2023-02 the District set July 19, 2023, for a public hearing regarding the imposition of operation and maintenance special assessments; and

WHEREAS, the District restates and adopts the findings and conclusions of Resolution 2023-02 and hereby applies those finding and conclusions to the Expansion Parcels; 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 to the Expansion Parcels; and
WHEREAS, it is in the best interests of the District to permit the District Manager to amend the Assessment Roll adopted provided in Resolution 2023-02 to include the Expansion Parcels and top provide written notice to the owners of the Expansion Parcels.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. BENEFIT & ALLOCATION FINDINGS. 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 is shown in Exhibits “A” and “B,” and is hereby found to be fair and reasonable.

SECTION 2. ADOPTION OF RESOLUTION 2023-02. The findings and conclusion of Resolution 2023-02 are hereby incorporated by this reference and apply to the Expansion Parcels

SECTION 3. Continuation of Public Hearing. The Public Hearing regarding the imposition of operation and maintenance special assessments is hereby continued to and set for the following date, hour and location:

DATE: Wednesday, August 16, 2023
HOUR: 1:45 p.m.
LOCATION: 346 East Central Avenue Winter Haven, Florida 33880

SECTION 4. 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 5. EFFECTIVE DATE. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board.

PASSED AND ADOPTED THIS 19TH DAY OF JULY 2023.

ATTEST:	SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary
By:	 Its:	

Exhibit A:	Budget
Exhibit B:	Assessment Roll

Option A

Scenic Terrace South
Community Development District

Proposed Budget
FY2024

Table of Contents

1

2-6

7
General Fund

General Fund Narrative

Debt Service Fund - Series 2022

8	Amortization Schedule - Series 2022

Scenic Terrace South
Community Development District Proposed Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	5/31/23	4 Months	9/30/23	FY2024	

Revenues

Assessments - Tax Roll	$	-	$	98,192	$	-	$	98,192	$	656,325			
Assessnents - Direct	$	-	$	-	$	-	$	-	$	15,815			
Developer Contributions	$	417,811	$	13,000	$	64,269	$	77,269	$	-			
Boundary Amendment Contribution	$	-	$	17,722	$	-	$	17,722	$	-			
Total Revenues	$	417,811	$	128,914	$	64,269	$	193,182	$	672,141	

Expenditures						
General & Administrative
Supervisor Fees	
$	12,000	
$	4,400	
$	4,000	
$	8,400	
$	12,000	
Engineering	$	15,000	$	3,864	$	2,040	$	5,904	$	15,000	
Attorney	$	25,000	$	7,590	$	3,795	$	11,384	$	25,000	
Annual Audit	$	5,000	$	-	$	3,250	$	3,250	$	5,000	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000	
Arbitrage	$	500	$	-	$	450	$	450	$	500	
Dissemination	$	5,000	$	3,333	$	1,667	$	5,000	$	5,000	
Trustee Fees	$	4,041	$	4,041	$	-	$	4,041	$	4,041	
Management Fees	$	36,750	$	24,500	$	12,250	$	36,750	$	38,955	
Information Technology	$	1,800	$	1,200	$	600	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	800	$	400	$	1,200	$	1,200	
Postage & Delivery	$	1,000	$	143	$	346	$	489	$	1,000	
Insurance	$	5,000	$	5,000	$	-	$	5,000	$	6,575	
Copies	$	1,000	$	-	$	50	$	50	$	1,000	
Legal Advertising	$	18,500	$	7,037	$	7,252	$	14,290	$	6,500	
Boundary Amendment Expense	$	-	$	21,465	$	-	$	21,465	$	-	
Contingencies	$	5,300	$	-	$	1,000	$	1,000	$	5,300	
Office Supplies	$	625	$	12	$	8	$	20	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative	$	142,891	$	83,560	$	37,107	$	120,667	$	134,671	

Operations & Maintenance						
Field Services						
Property Insurance	$	5,000	$	-	$	-	$	-	$	7,500	
Field Management	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Landscape Maintenance	$	55,000	$	-	$	27,500	$	27,500	$	75,000	
Landscape Replacement	$	7,500	$	-	$	3,750	$	3,750	$	12,500	
Lake Maintenance	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Streetlights	$	12,000	$	-	$	6,000	$	6,000	$	30,000	
Electric	$	5,000	$	265	$	2,500	$	2,765	$	5,000	
Water & Sewer	$	5,000	$	-	$	2,500	$	2,500	$	-	
Sidewalk & Asphalt Maintenance	$	5,000	$	-	$	2,500	$	2,500	$	2,500	
Irrigation Repairs	$	5,000	$	-	$	2,500	$	2,500	$	10,000	
General Repairs & Maintenance	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Contingency	$	5,000	$	-	$	2,500	$	2,500	$	200,000	
Subtotal Field Expenses	$	149,500	$	265	$	72,250	$	72,515	$	387,500	
Scenic Terrace South
Community Development District Proposed Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	5/31/23	4 Months	9/30/23	FY2024	

Amenity Expenses						
Amenity - Electric	$	15,000	$	-	$	-	$	-	$	15,000	
Amenity - Water	$	10,000	$	-	$	-	$	-	$	7,500	
Playground Lease	$	25,000	$	-	$	-	$	-	$	50,000	
Internet	$	3,000	$	-	$	-	$	-	$	3,000	
Pest Control	$	720	$	-	$	-	$	-	$	720	
Janitorial Service	$	5,500	$	-	$	-	$	-	$	6,550	
Security Services	$	30,000	$	-	$	-	$	-	$	30,000	
Pool Maintenance	$	16,200	$	-	$	-	$	-	$	16,200	
Amenity Repairs & Maintenance	$	10,000	$	-	$	-	$	-	$	10,000	
Amenity Access Management	$	5,000	$	-	$	-	$	-	$	6,000	
Contingency	$	5,000	$	-	$	-	$	-	$	5,000	
Subtotal Amenity Expenses	$	125,420	$	-	$	-	$	-	$	149,970	
						
Total Operations & Maintenance	$	274,920	$	265	$	72,250	$	72,515	$	537,470	
						
Total Expenditures	$	417,811	$	83,825	$	109,357	$	193,182	$	672,141	
						
Excess Revenues/(Expenditures)	$	-	$	45,089	$	(45,089)	$	-	$	-	
						
Product	Assessable	ERU/Unit	Total ERU's	Net Assessment	Net Per Unit (7%)	Gross Per Unit	
Platted Lots	744	1.00	744.00	$656,325.22	$882.16	$948.56	
Unplatted - Admin Only	99	0.12	11.63	$15,815.41	$159.75	$171.78	
Total ERU's	843	755.63	$672,140.63			
Scenic Terrace South Community Development District General Fund Budget

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during the fiscal year.

Expenditures:

General & Administrative:

Supervisor Fees

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

Engineering

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

Attorney

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

Annual Audit

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

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

Dissemination

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

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.
Scenic Terrace South Community Development District General Fund Budget

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

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

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

Copies

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

Legal Advertising

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

Contingencies

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

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.
Scenic Terrace South Community Development District General Fund Budget

Operations & Maintenance:

Field Expenses

Property Insurance

The District’s property insurance coverages.

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Lake Maintenance

Represents the estimated maintenance of the lake within the common areas of the District.

Streetlights

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

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.
Scenic Terrace South Community Development District General Fund Budget

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Amenity Expenses

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Playground Lease

Represents the cost of the District leasing playground equipment for the fiscal year.

Internet

Internet service will be added for use at the Amenity Center.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities. Janitorial Services
Represents costs to provide janitorial services and supplies for the District’s amenity facilities. Security Services
Represents the cost of contracting a monthly security service for the District’s amenity facilities.

Pool Maintenance

Represents the costs of regular cleaning and treatments of the District’s pool.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Amenity Access Management

Represents the cost of managing the monitoring access to the District’s amenity facilities.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.
Scenic Terrace South
Community Development District

Proposed Budget Debt Service Fund Series 2022

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget					
	Description	FY2023	5/31/23	4 Months	9/30/23	FY2024					

Revenues											
Assessments		$	499,816	$	122,987	$	376,829	$	499,816	$	1,291,372					
Assesments - Prepayments	$	-	$	1,182,000	$	-	$	1,182,000	$	-						
Interest Income	$	-	$	48,286	$	24,143	$	72,429	$	-						
Carry Forward Surplus *	$	1,069,883	$	1,077,227	$	-	$	1,077,227	$	500,353						
Total Revenues	$	1,569,699	$	2,430,500	$	400,972	$	2,831,472	$	1,791,724						

Expenses											
Interest- 11/01	$	569,234	$	569,234	$	-	$	569,234	$	471,572						
Principal - 05/01	$	-	$	-	$	-	$	-	$	355,000	
Interest - 05/01	$	499,816	$	499,816	$	-	$	499,816	$	471,572	
Special Call - 08/01	$	-	$	-	$	1,265,000	$	1,265,000	$	-	
Total Expenditures	$	1,069,050	$	1,069,050	$	1,265,000	$	2,334,050	$	1,298,144						

Other Financing Sources/(Uses)											
Transfer In/(Out)	$	-	$	2,931	$	-	$	2,931	$	-						
Total Other Financing Sources/(Uses)	$	-	$	2,931	$	-	$	2,931	$	-						
											
Excess Revenues/(Expenditures)	$	500,649	$	1,364,381	$	(864,028)	$	500,353	$	493,581						

*Carry forward less amount in Reserve funds.											
				Series 2022 Interest - 11/01	
$464,916						
Product *	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit							
Single Family - 40'	546	$1,004,297	$1,839.37	$1,977.82							
Single Family - 50'	198	$287,074	$1,449.87	$1,559.00							
Total ERU's	744	$1,291,372									

(1) The per unit and total annual debt assessments reflected in this chart represent payment of full year of principal and interest.
Scenic Terrace South Community Development District Series 2022 Special Assessment Bonds Amortization Schedule

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

Option B

Scenic Terrace South
Community Development District

Proposed Budget
FY2024

Table of Contents

1

2-6

7
General Fund

General Fund Narrative

Debt Service Fund - Series 2022

8	Amortization Schedule - Series 2022

Scenic Terrace South
Community Development District Proposed Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	5/31/23	4 Months	9/30/23	FY2024	

Revenues

Assessments - Tax Roll	$	-	$	98,192	$	-	$	98,192	$	471,325			
Assessnents - Direct	$	-	$	-	$	-	$	-	$	15,815			
Developer Contributions	$	417,811	$	13,000	$	64,269	$	77,269	$	-			
Boundary Amendment Contribution	$	-	$	17,722	$	-	$	17,722	$	-			
Total Revenues	$	417,811	$	128,914	$	64,269	$	193,182	$	487,141	

Expenditures						
General & Administrative
Supervisor Fees	
$	12,000	
$	4,400	
$	4,000	
$	8,400	
$	12,000	
Engineering	$	15,000	$	3,864	$	2,040	$	5,904	$	15,000	
Attorney	$	25,000	$	7,590	$	3,795	$	11,384	$	25,000	
Annual Audit	$	5,000	$	-	$	3,250	$	3,250	$	5,000	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000	
Arbitrage	$	500	$	-	$	450	$	450	$	500	
Dissemination	$	5,000	$	3,333	$	1,667	$	5,000	$	5,000	
Trustee Fees	$	4,041	$	4,041	$	-	$	4,041	$	4,041	
Management Fees	$	36,750	$	24,500	$	12,250	$	36,750	$	38,955	
Information Technology	$	1,800	$	1,200	$	600	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	800	$	400	$	1,200	$	1,200	
Postage & Delivery	$	1,000	$	143	$	346	$	489	$	1,000	
Insurance	$	5,000	$	5,000	$	-	$	5,000	$	6,575	
Copies	$	1,000	$	-	$	50	$	50	$	1,000	
Legal Advertising	$	18,500	$	7,037	$	7,252	$	14,290	$	6,500	
Boundary Amendment Expense	$	-	$	21,465	$	-	$	21,465	$	-	
Contingencies	$	5,300	$	-	$	1,000	$	1,000	$	5,300	
Office Supplies	$	625	$	12	$	8	$	20	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative	$	142,891	$	83,560	$	37,107	$	120,667	$	134,671	

Operations & Maintenance						
Field Services						
Property Insurance	$	5,000	$	-	$	-	$	-	$	7,500	
Field Management	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Landscape Maintenance	$	55,000	$	-	$	27,500	$	27,500	$	75,000	
Landscape Replacement	$	7,500	$	-	$	3,750	$	3,750	$	12,500	
Lake Maintenance	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Streetlights	$	12,000	$	-	$	6,000	$	6,000	$	30,000	
Electric	$	5,000	$	265	$	2,500	$	2,765	$	5,000	
Water & Sewer	$	5,000	$	-	$	2,500	$	2,500	$	-	
Sidewalk & Asphalt Maintenance	$	5,000	$	-	$	2,500	$	2,500	$	2,500	
Irrigation Repairs	$	5,000	$	-	$	2,500	$	2,500	$	10,000	
General Repairs & Maintenance	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Contingency	$	5,000	$	-	$	2,500	$	2,500	$	15,000	
Subtotal Field Expenses	$	149,500	$	265	$	72,250	$	72,515	$	202,500	
Scenic Terrace South
Community Development District Proposed Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	5/31/23	4 Months	9/30/23	FY2024	

Amenity Expenses						
Amenity - Electric	$	15,000	$	-	$	-	$	-	$	15,000	
Amenity - Water	$	10,000	$	-	$	-	$	-	$	7,500	
Playground Lease	$	25,000	$	-	$	-	$	-	$	50,000	
Internet	$	3,000	$	-	$	-	$	-	$	3,000	
Pest Control	$	720	$	-	$	-	$	-	$	720	
Janitorial Service	$	5,500	$	-	$	-	$	-	$	6,550	
Security Services	$	30,000	$	-	$	-	$	-	$	30,000	
Pool Maintenance	$	16,200	$	-	$	-	$	-	$	16,200	
Amenity Repairs & Maintenance	$	10,000	$	-	$	-	$	-	$	10,000	
Amenity Access Management	$	5,000	$	-	$	-	$	-	$	6,000	
Contingency	$	5,000	$	-	$	-	$	-	$	5,000	
Subtotal Amenity Expenses	$	125,420	$	-	$	-	$	-	$	149,970	
						
Total Operations & Maintenance	$	274,920	$	265	$	72,250	$	72,515	$	352,470	
						
Total Expenditures	$	417,811	$	83,825	$	109,357	$	193,182	$	487,141	
						
Excess Revenues/(Expenditures)	$	-	$	45,089	$	(45,089)	$	-	$	-	
						
Product	Assessable	ERU/Unit	Total ERU's	Net Assessment	Net Per Unit (7%)	Gross Per Unit	
Platted Lots	744	1.00	744.00	$471,325.22	$633.50	$681.18	
Unplatted - Admin Only	99	0.12	11.63	$15,815.41	$159.75	$171.78	
Total ERU's	843	755.63	$487,140.63			
Scenic Terrace South Community Development District General Fund Budget

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during the fiscal year.

Expenditures:

General & Administrative:

Supervisor Fees

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

Engineering

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

Attorney

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

Annual Audit

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

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

Dissemination

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

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.
Scenic Terrace South Community Development District General Fund Budget

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

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

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

Copies

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

Legal Advertising

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

Contingencies

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

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.
Scenic Terrace South Community Development District General Fund Budget

Operations & Maintenance:

Field Expenses

Property Insurance

The District’s property insurance coverages.

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Lake Maintenance

Represents the estimated maintenance of the lake within the common areas of the District.

Streetlights

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

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.
Scenic Terrace South Community Development District General Fund Budget

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Amenity Expenses

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Playground Lease

Represents the cost of the District leasing playground equipment for the fiscal year.

Internet

Internet service will be added for use at the Amenity Center.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities. Janitorial Services
Represents costs to provide janitorial services and supplies for the District’s amenity facilities. Security Services
Represents the cost of contracting a monthly security service for the District’s amenity facilities.

Pool Maintenance

Represents the costs of regular cleaning and treatments of the District’s pool.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Amenity Access Management

Represents the cost of managing the monitoring access to the District’s amenity facilities.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.
Scenic Terrace South
Community Development District

#REF!
Debt Service Fund Series 2022

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	#REF!
Budget					
	Description	FY2023	5/31/23	4 Months	9/30/23	#REF!					

Revenues											
Assessments		$	499,816	$	122,987	$	376,829	$	499,816	$	1,291,372					
Assesments - Prepayments	$	-	$	1,182,000	$	-	$	1,182,000	$	-						
Interest Income	$	-	$	48,286	$	24,143	$	72,429	$	-						
Carry Forward Surplus *	$	1,069,883	$	1,077,227	$	-	$	1,077,227	$	500,353						
Total Revenues	$	1,569,699	$	2,430,500	$	400,972	$	2,831,472	$	1,791,724						

Expenses											
Interest- 11/01	$	569,234	$	569,234	$	-	$	569,234	$	471,572						
Principal - 05/01	$	-	$	-	$	-	$	-	$	355,000	
Interest - 05/01	$	499,816	$	499,816	$	-	$	499,816	$	471,572	
Special Call - 08/01	$	-	$	-	$	1,265,000	$	1,265,000	$	-	
Total Expenditures	$	1,069,050	$	1,069,050	$	1,265,000	$	2,334,050	$	1,298,144						

Other Financing Sources/(Uses)											
Transfer In/(Out)	$	-	$	2,931	$	-	$	2,931	$	-						
Total Other Financing Sources/(Uses)	$	-	$	2,931	$	-	$	2,931	$	-						
											
Excess Revenues/(Expenditures)	$	500,649	$	1,364,381	$	(864,028)	$	500,353	$	493,581						

*Carry forward less amount in Reserve funds.											
				Series 2022 Interest - 11/01	
$464,916						
Product *	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit							
Single Family - 40'	546	$1,004,297	$1,839.37	$1,977.82							
Single Family - 50'	198	$287,074	$1,449.87	$1,559.00							
Total ERU's	744	$1,291,372									

(1) The per unit and total annual debt assessments reflected in this chart represent payment of full year of principal and interest.
Scenic Terrace South Community Development District Series 2022 Special Assessment Bonds Amortization Schedule

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

Option A

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272809000000023020		$0.00	$0.00	$0.00	
272810822212001010	1.00	$948.56	$1,559.14	$2,507.70	
272810822212001020	1.00	$948.56	$1,559.14	$2,507.70	
272810822212001030	1.00	$948.56	$1,559.14	$2,507.70	
272810822212001040	1.00	$948.56	$1,559.14	$2,507.70	
272810822212002010	1.00	$948.56	$1,559.14	$2,507.70	
272810822212002020	1.00	$948.56	$1,559.14	$2,507.70	
272810822212002030	1.00	$948.56	$1,559.14	$2,507.70	
272810822212002040	1.00	$948.56	$1,559.14	$2,507.70	
272810822212002050	1.00	$948.56	$1,559.14	$2,507.70	
272810822212002060	1.00	$948.56	$1,559.14	$2,507.70	
272810822212002070	1.00	$948.56	$1,559.14	$2,507.70	
272810822212002080	1.00	$948.56	$1,559.14	$2,507.70	
272810822212002090	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003010	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003020	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003030	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003040	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003050	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003060	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003070	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003080	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003090	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003100	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003110	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003120	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003130	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003140	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003150	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003160	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003170	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003180	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003190	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003200	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003210	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003220	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003230	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003240	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003250	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003260	1.00	$948.56	$1,559.14	$2,507.70	
272810822212003270	1.00	$948.56	$1,559.14	$2,507.70	
272810822212004010	1.00	$948.56	$1,559.14	$2,507.70	
272810822212004020	1.00	$948.56	$1,559.14	$2,507.70	

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272810822212004030	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005010	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005020	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005030	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005040	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005050	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005060	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005070	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005080	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005090	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005100	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005110	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005120	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005130	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005140	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005150	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005160	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005170	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005180	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005190	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005200	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005210	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005220	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005230	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005240	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005250	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005260	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005270	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005280	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005290	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005300	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005310	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005320	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005330	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005340	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005350	1.00	$948.56	$1,559.14	$2,507.70	
272810822212005360	1.00	$948.56	$1,559.14	$2,507.70	
272810822212006010	1.00	$948.56	$1,559.14	$2,507.70	
272810822212006020	1.00	$948.56	$1,559.14	$2,507.70	
272810822212006030	1.00	$948.56	$1,559.14	$2,507.70	
272810822212006040	1.00	$948.56	$1,559.14	$2,507.70	
272810822212006050	1.00	$948.56	$1,559.14	$2,507.70	
272810822212006060	1.00	$948.56	$1,559.14	$2,507.70	
272810822212006070	1.00	$948.56	$1,559.14	$2,507.70	
272810822212006080	1.00	$948.56	$1,559.14	$2,507.70	
272810822212006090	1.00	$948.56	$1,559.14	$2,507.70	
272810822212006100	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007010	1.00	$948.56	$1,559.14	$2,507.70	

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272810822212007020	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007030	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007040	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007050	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007060	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007070	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007080	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007090	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007100	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007110	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007120	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007130	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007140	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007150	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007160	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007170	1.00	$948.56	$1,559.14	$2,507.70	
272810822212007180	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008010	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008020	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008030	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008040	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008050	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008060	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008070	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008080	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008090	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008100	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008110	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008120	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008130	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008140	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008150	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008160	1.00	$948.56	$1,559.14	$2,507.70	
272810822212008170	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009010	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009020	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009030	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009040	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009050	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009060	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009070	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009080	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009090	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009100	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009110	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009120	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009130	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009140	1.00	$948.56	$1,559.14	$2,507.70	

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272810822212009150	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009160	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009170	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009180	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009190	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009200	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009210	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009220	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009230	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009240	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009250	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009260	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009270	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009280	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009290	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009300	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009310	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009320	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009330	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009340	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009350	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009360	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009370	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009380	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009390	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009400	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009410	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009420	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009430	1.00	$948.56	$1,559.14	$2,507.70	
272810822212009440	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010010	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010020	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010030	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010040	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010050	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010060	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010070	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010080	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010090	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010100	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010110	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010120	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010130	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010140	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010150	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010160	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010170	1.00	$948.56	$1,559.14	$2,507.70	
272810822212010180	1.00	$948.56	$1,559.14	$2,507.70	

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272810822212011010	1.00	$948.56	$1,559.14	$2,507.70	
272810822212011020	1.00	$948.56	$1,559.14	$2,507.70	
272810822212011030	1.00	$948.56	$1,559.14	$2,507.70	
272810822212011040	1.00	$948.56	$1,559.14	$2,507.70	
272810822212011050	1.00	$948.56	$1,559.14	$2,507.70	
272810822212011060	1.00	$948.56	$1,559.14	$2,507.70	
272810822212011070	1.00	$948.56	$1,559.14	$2,507.70	
272810822212011080	1.00	$948.56	$1,559.14	$2,507.70	
272810822212011090	1.00	$948.56	$1,559.14	$2,507.70	
272810822212011100	1.00	$948.56	$1,559.14	$2,507.70	
272810822212011110	1.00	$948.56	$1,559.14	$2,507.70	
272810822212011120	1.00	$948.56	$1,559.14	$2,507.70	
272810822212011130		$0.00	$0.00	$0.00	
272810822212011140		$0.00	$0.00	$0.00	
272810822212011150		$0.00	$0.00	$0.00	
272810822212011160		$0.00	$0.00	$0.00	
272810822212011170		$0.00	$0.00	$0.00	
272810822212011180		$0.00	$0.00	$0.00	
272810822212011190		$0.00	$0.00	$0.00	
272810822212011200		$0.00	$0.00	$0.00	
272810822212011210		$0.00	$0.00	$0.00	
Total Gross Onroll Assessments	198	$187,814.88	$308,709.72	$496,524.60	
					
Total Net Onroll Assessments		$174,667.84	$287,100.04	$461,767.88	

Direct Billing					
Parcel ID	Acreage	FY24 O&M	Series 2022 Debt	Total	
272809000000011020	9.93	$36,648.32	$60,238.53	$96,886.85	
272809000000012010	19.23	$71,002.78	$116,706.66	$187,709.43	
272809000000012020	19.49	$71,935.24	$118,239.33	$190,174.57	
272809000000014020	9.24	$34,108.60	$56,064.02	$90,172.63	
272809000000014030	28.50	$105,198.87	$172,914.48	$278,113.35	
272809000000023010	25.56	$94,350.44	$155,083.02	$249,433.46	
272809000000041020	18.77	$69,302.49	$113,911.92	$183,214.42	
272809000000041040	1.50	$5,543.82	$9,112.32	$14,656.14	
272809000000041050	8.08	$29,823.20	$49,020.15	$78,843.35	
272809000000013020	10.14	$8,498.92	$0.00	$8,498.92	
272809000000011030	10.15	$8,507.30	$0.00	$8,507.30	
Total Gross Offroll Assessments	160.59	$534,919.98	$851,290.44	$1,386,210.42	
					
Total Net Offroll Assessments		$497,475.58	$791,700.11	$1,289,175.69	
					
Total Gross Assessments		$722,734.86	$1,160,000.16	$1,882,735.02	
					
Total Net Assessments		$672,143.42	$1,078,800.15	$1,750,943.57	

Option B

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272809000000023020		$0.00	$0.00	$0.00	
272810822212001010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212001020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212001030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212001040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003130	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003140	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003150	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003160	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003170	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003180	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003190	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003200	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003210	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003220	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003230	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003240	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003250	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003260	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003270	1.00	$681.18	$1,559.14	$2,240.32	
272810822212004010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212004020	1.00	$681.18	$1,559.14	$2,240.32	

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272810822212004030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005130	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005140	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005150	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005160	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005170	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005180	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005190	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005200	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005210	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005220	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005230	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005240	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005250	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005260	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005270	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005280	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005290	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005300	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005310	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005320	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005330	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005340	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005350	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005360	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007010	1.00	$681.18	$1,559.14	$2,240.32	

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272810822212007020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007130	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007140	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007150	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007160	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007170	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007180	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008130	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008140	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008150	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008160	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008170	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009130	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009140	1.00	$681.18	$1,559.14	$2,240.32	

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272810822212009150	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009160	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009170	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009180	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009190	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009200	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009210	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009220	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009230	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009240	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009250	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009260	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009270	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009280	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009290	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009300	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009310	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009320	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009330	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009340	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009350	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009360	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009370	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009380	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009390	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009400	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009410	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009420	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009430	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009440	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010130	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010140	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010150	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010160	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010170	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010180	1.00	$681.18	$1,559.14	$2,240.32	

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272810822212011010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011130		$0.00	$0.00	$0.00	
272810822212011140		$0.00	$0.00	$0.00	
272810822212011150		$0.00	$0.00	$0.00	
272810822212011160		$0.00	$0.00	$0.00	
272810822212011170		$0.00	$0.00	$0.00	
272810822212011180		$0.00	$0.00	$0.00	
272810822212011190		$0.00	$0.00	$0.00	
272810822212011200		$0.00	$0.00	$0.00	
272810822212011210		$0.00	$0.00	$0.00	
Total Gross Onroll Assessments	198	$134,873.64	$308,709.72	$443,583.36	
					
Total Net Onroll Assessments		$125,432.49	$287,100.04	$412,532.52	

Direct Billing					
Parcel ID	Acreage	FY24 O&M	Series 2022 Debt	Total	
272809000000011020	9.93	$26,317.90	$60,238.53	$86,556.43	
272809000000012010	19.23	$50,988.52	$116,706.66	$167,695.18	
272809000000012020	19.49	$51,658.14	$118,239.33	$169,897.47	
272809000000014020	9.24	$24,494.07	$56,064.02	$80,558.10	
272809000000014030	28.50	$75,545.42	$172,914.48	$248,459.90	
272809000000023010	25.56	$67,754.95	$155,083.02	$222,837.97	
272809000000041020	18.77	$49,767.51	$113,911.92	$163,679.44	
272809000000041040	1.50	$3,981.13	$9,112.32	$13,093.45	
272809000000041050	8.08	$21,416.64	$49,020.15	$70,436.79	
272809000000013020	10.14	$8,498.92	$0.00	$8,498.92	
272809000000011030	10.15	$8,507.30	$0.00	$8,507.30	
Total Gross Offroll Assessments	160.59	$388,930.50	$851,290.44	$1,240,220.94	
					
Total Net Offroll Assessments		$361,705.37	$791,700.11	$1,153,405.47	
					
Total Gross Assessments		$523,804.14	$1,160,000.16	$1,683,804.30	
					
Total Net Assessments		$487,137.85	$1,078,800.15	$1,565,938.00	

Section C

Section 1

Scenic Terrace South Community Development District
Engineer's Report – Amended and Restated
May 16, 2023

SUBMITTED BY:
Dewberry Engineers Inc. 800 North Magnolia Avenue Suite 1000
Orlando, Florida 32803
407-843-5120
TABLE OF CONTENTS

Introduction	2
Purpose and Scope	3
The Development	3
Capital Improvements	3
Stormwater Management Facilities	4
Public Roadways	4
Water and Wastewater Facilities	5
Off-Site Utilities	5
Amenities and Parks	5
Electric Utilities and Lighting	5
Entry Features	5
Miscellaneous	6
Permitting	6
Recommendation	6
Report Modification	6
Summary and Conclusion	6
Engineer’s Certification	7
List of Exhibits
Aerial Location Map	Exhibit 1
Legal Description of Existing District	Exhibit 2
Legal Description of Expansion/Contraction Parcels	Exhibits 3A-3C
Legal Description of Amended District	Exhibit 4
Existing Land Use Map	Composite Exhibit 5
Future Land Use Map	Composite Exhibit 5
Utility Location Map and Drainage Flow Pattern Map	Exhibit 6
Summary of District Facilities	Exhibit 7A
Summary of Opinion of Probable Cost	Exhibit 7B
Overall Site Plan	Exhibit 8

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Scenic Terrace South Community Development District
INTRODUCTION
The Scenic Terrace South Community Development District (the ''District" or “CDD”) is located at Scenic Highway (SR 17) and Hughes Road and within the Town of Lake Hamilton (the “Town). The CDD was established under Town Ordinance No. O-21-19, which was approved by the Town of Lake Hamilton Commission on October 5, 2021. The District will own and operate the public roadways, utility systems, and stormwater management facilities, as well as the landscape, irrigation, signage, and recreational facilities within the development. The District previously contained approximately 188.33 acres and was expected to consist of 744 residential lots of various sizes for single-family dwellings with recreation/amenity areas, parks, and associated infrastructure for the development. On May 2, 2023, Ordinance No. O-23-05 was passed in the Town of Lake Hamilton, effectively removing approximately 15.699 acres of land from the District, adding approximately 30.182 acres of land to the District, and correcting a scrivener’s error regarding the original metes and bounds legal description of the District. After the Ordinance was passed, this brought the total area of the District to 211.11 acres, with an expected 843 residential lots of various sizes.

The Master Developer (“Developer”) Atlantic Blue Communities II, LLC is based in Lake Wales, Florida. The Development is approved as a Planned Unit Development (PUD) for residential units and is divided into four phases. A land use summary is presented in Table 1.

Public improvements and facilities financed, acquired, and/or constructed by the District will be designed and constructed to conform to regulatory criteria from the Town, county, Southwest Florida Water Management District (SWFWMD), and other applicable agencies with regulatory jurisdiction over the development, an overall estimate of the probable cost of the public improvements are provided in Exhibit 7 of this report.

The Capital Improvement Plan (CIP) or this Engineer’s Report reflects the present intentions of the District and the landowners. It should be noted that the location of the proposed facilities and improvements may be adjusted during the final design, permitting, and implementation phases. It should also be noted that these modifications are not expected to diminish the benefits to the property within the District. The District reserves the right to make reasonable adjustments to the development plan to meet applicable regulatory requirements of agencies with jurisdiction over the development while maintaining a comparable level of benefits to the lands served by the improvements. Changes and modifications are expected as changes in regulatory criteria are implemented.

TABLE 1	AREA	
Master Stormwater System	42.88 ac	
Residential Land (Single-Family 40-ft and 50-ft Lots)	86.79 ac	
Roadways Infrastructure & Public Facilities	67.47 ac	
Open Space/Conservation Areas/Parks	13.97 ac	
TOTAL	211.11 ac	

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
TABLE 3 LOT TYPES			
LOT TYPE	UNITS	AREA (AC)	
40-ft Lots	293	25.21 ac	
50-ft Lots	550	61.58 ac	
TOTAL LOTS IN THE DISTRICT	843	86.79 ac	

Implementation of any proposed facilities or improvements outlined in this report requires written approval from the District's Board of Supervisors. Estimated costs outlined in this report are based on the best available information, which includes but is not limited to previous experience with similar projects. Actual costs could be different than estimates as final engineering and specific field conditions may affect construction costs.

All roadway improvements including sidewalks in the right-of-way and storm drainage collection systems (from the curb inlets to their connection to the stormwater ponds) within the development will be maintained by the District. Water distribution and wastewater collection systems (gravity lines, force mains, and lift stations) will be dedicated to the Town of Lake Hamilton and Haines City for ownership and maintenance upon completion.

PURPOSE AND SCOPE
The purpose of this report is to provide engineering support for the funding of the proposed improvements within the District. This report will identify the proposed public infrastructure to be constructed or acquired by the District along with an Opinion of Probable Construction Costs. The District will finance, construct, acquire, operate, and maintain all or specific portions of the proposed public infrastructure.

The predominant portion of this report provides descriptions of the proposed public infrastructure improvements, determination of estimated probable construction costs, and the corresponding benefits associated with the implementation of the described improvements. Detailed site construction plans and specifications have been completed and permitted for the improvements described herein. The engineer has considered and, in specific instances, has relied upon the information and documentation prepared or supplied by others to prepare this Engineer’s Report.

THE DEVELOPMENT
The development will consist of a total of 843 residential units and associated infrastructure. The development is a planned residential community consisting of 211.11 acres on the east and west sides of SR 17 Scenic Highway and the north and south sides of Hughes Road. The District is located within the Town of Lake Hamilton in Polk County. The future land use is Residential Lands – 5 (RL-5) and zoning is Planned Unit Development (PUD). The development will be constructed in four phases.

CAPITAL IMPROVEMENTS
The CIP consists of public infrastructure in the development. The primary portions of the CIP will provide for stormwater pond construction, roadways built to an urban roadway typical section, water, and sewer facilities including three lift stations, and off-site improvements (including turn lanes and extension of water and sewer mains to serve the development).

There will also be stormwater structures and conveyance culverts within the CIP, which will outfall into the various on- site stormwater ponds. These structures and pond areas comprise the overall stormwater facilities of the CIP.

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Installation of the water distribution and wastewater collection system will also occur at this time, as well as the three lift stations serving the project. Below-ground installation of telecommunications and cable television will occur but will not be funded by the District. Installation of streetlights and undergrounding of power within the public rights-of-way or easements will be funded by the District.

As a part of the recreational component of the CIP, there are conservation areas that can serve as passive parks within the development that are available to the public for utilization of the facilities. The recreational areas will have connectivity via sidewalks to the other portions of the District. The recreational areas will be accessed by the public roadways and sidewalks.

CAPITAL IMPROVEMENT PLAN COMPONENTS
The CIP for the District includes the following:

Stormwater Management Facilities
Stormwater management facilities consisting of storm conveyance systems and retention/detention ponds are contained within the District boundaries. Stormwater will be discharged via roadway curb and gutter and storm inlets. Storm culverts convey the runoff into the proposed retention ponds for water quality treatment and attenuation. The proposed stormwater systems will utilize dry retention and wet retention for biological pollutant assimilation to achieve water quality treatment. The design criteria for the District’s stormwater treatment systems are regulated by the Town, the county, and SWFWMD. There are very few conservation areas throughout the District, which will be preserved in the existing condition and will accept stormwater discharges from our ponds as shown in Exhibit 6.

Federal Emergency Management Agency Flood Insurance Rate Map (FEMA FIRM) Panel Numbers 12105C0380G and 12105C0390G demonstrates that the property is located within Flood Zones AE and X. Based on this information and the site topography, it appears that 100-year compensation will be done in areas where we will impact existing depressions throughout the development and the 100-year flood volumes will be compensated as it is required the county and FEMA.

During the construction of stormwater management facilities, utilities, and roadway improvements the contractor will be required to adhere to a Stormwater Pollution Prevention Plan (SWPPP) as required by the FDEP as delegated by the Environmental Protection Agency (EPA). The SWPPP will be prepared to depict the proposed recommended locations of required erosion control measures and staked turbidity barriers specifically along the downgradient side of any proposed construction activity. The site contractor will be required to provide the necessary reporting as required by the National Pollutant Discharge Elimination System (NPDES) General Permit with erosion control, its maintenance, and any rainfall events that occur during construction activity.

Public Roadways
The proposed public roadway sections include a 24-foot roadway consisting of asphalt and with Miami curbs or Type F curb and gutter on both sides along with a 50-foot right-of-way. The proposed roadway section will consist of stabilized subgrade, a lime rock, crushed concrete, or cement-treated base and asphalt type roadway wearing surface. The proposed curb is to be 2-feet wide and placed along the edge of the proposed roadway section for purposes of protecting the integrity of the pavement, and also to provide stormwater runoff conveyance to the proposed stormwater inlets.

The proposed roadways will also require signage and pavement markings within the public rights-of-way, as well as street signs depicting street name identifications, and addressing, which will be utilized by the residents and public. As

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
stated above, the District's funding of roadway construction will occur for all public roadways.

Water and Wastewater Facilities
A potable drinking water system inclusive of a water main, gate valves, fire hydrants, and appurtenances will be installed for the District. The water service provider will be the Town of Lake Hamilton or Haines City Public Utilities. The water system will be designed to provide an equally distributed system that provides redundancy to the system. These facilities will be installed within the proposed public rights-of-way and will provide potable drinking water (domestic) and fire protection services to serve the entire District.

A domestic wastewater collection system inclusive of gravity sanitary sewer mains and sewer laterals will be installed. The gravity sanitary sewer mains will be a minimum of eight (8)-inch diameter PVC pipe systems. The gravity sanitary sewer lines will be placed inside of the proposed public rights-of-way, under the proposed paved roadways. Sewer laterals will branch off from these sewer lines to serve the development. Three lift stations are anticipated for this CIP. Flow from the lift stations shall be connected to a proposed force main that will pump to an existing force main that will connect to the Town’s or Haines City’s wastewater treatment facility.

Off-Site Improvements
The District will provide funding for the anticipated turn lanes at the development entrances. The site construction activities associated with the CIP are anticipated to be completed in the next two (2) to three (3) years. Upon completion of each phase, the improvements will be through the required inspections as well as final certifications of completions will be obtained from SWFWMD, Polk County Health Department (water distribution system), FDEP (wastewater collection), Town of Lake Hamilton Public Utilities, and the county.

Amenities and Parks
The District will provide funding for an amenity center to include the following: parking areas, pavilion with restroom facilities, pool, all-purpose playfields, and walking trails between the phases and villages to provide connectivity to the various amenity centers within the CDD. In addition, there will be passive parks throughout the development, which will include benches and walking trails.

Electric Utilities and Lighting
The electric distribution system thru the District is currently planned to be underground, The District presently intends to fund and construct the undergrounding of the electric conduits, transformer/cabinet pads, and electric manholes required by Duke Energy (Duke). Electric facilities will be maintained by Duke after the dedication to The District, with Duke providing underground electrical service to the Development. The CDD presently intends to fund the cost to purchase and install the street lighting along the internal roadways within the CDD.
Entry Feature
Landscaping, irrigation, entry features, and walls at the entrances and along the outside boundary of the Development will be provided by the District. The irrigation system will use an irrigation well. The well and irrigation water mains to the various phases of the development will be constructed and acquired by the CDD with District funds and operated and maintained by the CDD. Landscaping for the roadways will consist of sod, annual flowers, shrubs, ground cover, and trees for the internal roadways within the CDD. Perimeter fencing will be provided at the site entrances and perimeters. These items will be funded, owned, and maintained by the CDD.

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Miscellaneous
The stormwater improvements, landscaping and irrigation, recreational improvements, street lighting, and certain permits and professional fees as described in this report are being financed by the District to benefit all of the developable real property within the District. The construction and maintenance of the proposed public improvements will benefit the development for the intended use as a single-family/residential planned development.

Permitting
Construction permits for all phases are required and include the SWFWMD ERP, Polk County Health Department, FDEP, and Town of Lake Hamilton construction plan approval.

Following is a summary of required permits obtained or pending approval for the construction of the public infrastructure improvements for the District:

Permits/Approvals	Approval/Expected Date	
Zoning Approval	Residential	Planned	Unit	Development
(RPUD) – Approved June 1, 2021	
SWFWMD ERP	Approved October 31, 2022 – Permit No.
45372.001	
Town of Lake Hamilton – Site Plans	Approved February 22, 2022	
FDEP Sanitary Sewer General Permit	Approved May 18, 2022 – Permit No. CS53-
0420586-001-DWC/CM	
FDEP Water Distribution General Permit	Approved April 7, 2022 – Permit No. 139218-
041	
FDEP NOI	Effective April 7, 2022 – ID No. FLR20FH97-
001	

RECOMMENDATION
As previously explained within this report, the public infrastructure, as described, is necessary for the development and functional operation as required by the Town. The site planning, engineering design, and construction plans for the infrastructure are in accordance with the applicable requirements of the Town of Lake Hamilton, Polk County, and the SWFWMD. It should be noted that the infrastructure will provide its intended use and function so long as the construction and installation are in substantial conformance with the design construction plans and regulatory permits.

Items utilized in the Opinion of Probable Costs for this report are based upon the proposed plan infrastructure as shown on construction drawings incorporating specifications in the most current SWFWMD, Polk County, and the Town regulations.

REPORT MODIFICATION
During the development and implementation of the designed public infrastructure improvements, it may be necessary to make modifications and/or deviations to the plans. However, if such deviations and/or revisions do not change the overall primary objective of the plan for such improvements, then the cost differences would not materially affect the proposed construction cost estimates.

SUMMARY AND CONCLUSION
The improvements as outlined are necessary for the functional development of the Project. The Project is being designed

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
in accordance with current government regulatory requirements. The Project will serve its intended function provided the construction is in substantial compliance with the design. Items of construction for the Project are based upon current development plans.

ENGINEER’S CERTIFICATION
It is our professional opinion that the public infrastructure costs for the CIP provided in this report are reasonable to complete the construction of the public infrastructure improvements. Furthermore, the public infrastructure improvements will benefit and add value to lands within the District and the value is at least the same as the costs for said improvements.

The Opinion of Probable Costs for the public infrastructure improvements is only an estimate and is not a guaranteed maximum price. The estimated costs are based upon current unit prices and on our experience with ongoing and similar projects and basis in the county and the Town. However, labor market, future costs of equipment; materials, changes to the regulatory permitting agencies' activities, and the actual construction processes employed by the chosen site contractor are beyond the engineer's control. Due to this inherent opportunity for changes (upward or downward) in the construction costs, the total, final construction cost may be more or less than this estimate.

Based upon the presumption that the CIP construction continues in a timely manner, it is our opinion that the costs of the CIP proposed represent a system of improvements benefitting all developable property located within the District, are fair and reasonable, and that the District-funded improvements are assessable improvements within the meaning of Chapter 190, F.S. We have no reason to believe that the CIP improvements cannot be constructed at the cost described in this report. We expect the improvements to be constructed or acquired by the District with bond proceeds, as indicated within this report. We believe that the District will be well served by the improvements discussed in this report.

I hereby certify that the foregoing is a true and correct copy of the engineer’s report for the Scenic Terrace South Community Development District.

Reinardo Malavé, P.E. Florida License No. 31588

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.

PARCELS LH9 AND LH10: ANNEXED INTO THE TOWN OF LAKE HAMILTON
PARCEL 410: ANNEXED INTO
THE TOWN OF LAKE HAMILTON VIA TOWN ORDINANCE
O-21-15, APPROVED 9/7/2021

LH9

LH10

410

396A

320A
AMENDED DISTRICT BOUNDARY

PARCELS ADDED
PARCELS REMOVED
AMENDED DISTRICT BOUNDARY

PARCEL 410 ADDED TO
DISTRICT BOUNDARY VIA ORDINANCE NO. O-23-05

SECTS 9 & 10, T27S, R28E
PARCELS 396A AND 320A REMOVED FROM DISTRICT BOUNDARY VIA ORDINANCE NO. O-23-05
PARCELS LH9 AND LH10 ADDED TO DISTRICT
BOUNDARY VIA
ORDINANCE NO. O-23-05

EXHIBIT 1 - LOCATION MAP
SCENIC TERRACE SOUTH CDD
0'	500'
1000'

DATE: 5/16/2023
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR			
A DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF			
BEGINNING; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS			
RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH			
89°17'17" EAST, 1240.44 FEET; NORTH 89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN			
MAP BOOK 1, PAGES 14 THROUGH 17, AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID			
WEST RIGHT OF WAY LINE FOR A DISTANCE OF 641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE			
NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST			
ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE			
SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE 44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE			
NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL			
RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF			
SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF HUGHES ROAD, RECORDED IN MAP BOOK 9,			
PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT OF WAY LINE FOR A DISTANCE OF			
400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4 OF SAID			
SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH RIGHT OF WAY			
LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF			
THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A			
DISTANCE OF 400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF			
THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE			
SOUTHEAST CORNER OF THE NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST			
ALONG THE SOUTH LINE OF SAID NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE			
OF 645.08 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND			
DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST,			
100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44" WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST,			
300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST, 109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE			
SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE			
SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID			
NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF STATE ROAD 17 AS			
SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN SOUTH 00°33'34" EAST ALONG SAID WEST			
RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 OF THE			
SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON THE EAST LINE OF			
THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH 03°05'06"			
WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST,			
49.40 FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00			
FEET; SOUTH 89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET			
TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY			
LINE FOR A DISTANCE OF 1314.71 FEET TO THE POINT OF BEGINNING. CONTAINING 196.63 ACRES, MORE OR LESS.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK			
COUNTY, FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD,			
RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH			
BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY			
OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A			
DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF			
36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A			
DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING.			
CONTAINING 9.911 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 206.541 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 2 - LEGAL DESCRIPTION OF		
	EXISTING DISTRICT		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
EXHIBIT 3A - CONTRACTION PARCELS:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE			
PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF			
SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY, N.89°23'07"E., A DISTANCE OF 36.64			
FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17), ACCORDING TO THE STATE OF FLORIDA STATE			
ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING			
TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE			
PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE			
FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF			
200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF 152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A			
DISTANCE OF 196.22 FEET; THENCE S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 174.65 FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO			
AFORESAID EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A			
DISTANCE OF 216.86 FEET TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED			
AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH BOUNDARY OF			
SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST RIGHT-OF-WAY OF SCENIC			
HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE			
ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A			
DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E.,			
A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST			
1/4 OF SECTION 9; THENCE ALONG SAID EAST BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325			
ACRES, MORE OR LESS.			
ALTOGETHER CONTAINING 15.699 ACRES, MORE OR LESS.			

EXHIBIT 3B - NEW EXPANSION PARCELS:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF			
SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH			
BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE			
EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF,			
S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH			
BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			

EXHIBIT 3C - EXPANSION PARCEL 410:			
THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA,			
LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH			
BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY			
OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A			
DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF			
36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A			
DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING.			
CONTAINING 9.911 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
EXHIBITS 3A, 3B, 3C - LEGAL DESCRIPTION			
OF EXPANSION / CONTRACTION PARCELS			
SCENIC TERRACE SOUTH CDD			
	DATE: 5/16/2023		
SCENIC TERRACE SOUTH CDD			
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR A			
DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF BEGINNING;			
THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS RECORDED IN MAP BOOK 2,			
PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH 89°17'17" EAST, 1240.44 FEET; NORTH			
89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17,			
AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF			
641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF			
THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE			
SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE			
44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST			
1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF			
THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF			
HUGHES ROAD, RECORDED IN MAP BOOK 9, PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT			
OF WAY LINE FOR A DISTANCE OF 400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE			
SOUTHWEST 1/4 OF SAID SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH			
RIGHT OF WAY LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET			
OF THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A DISTANCE OF			
400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF THE NORTHEAST 1/4			
OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE SOUTHEAST CORNER OF THE			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST ALONG THE SOUTH LINE OF SAID			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID			
DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF 645.08 FEET TO A POINT ON THE SOUTH			
RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH			
89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST, 100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44"			
WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST, 300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST,			
109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST			
ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN			
NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST			
RIGHT OF WAY LINE OF STATE ROAD 17 AS SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN			
SOUTH 00°33'34" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF			
THE SOUTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON			
THE EAST LINE OF THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH			
03°05'06" WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST, 49.40			
FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00 FEET; SOUTH			
89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF			
1314.71 FEET TO THE POINT OF BEGINNING.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY,			
FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH BOUNDARY THEREOF; THENCE ALONG SAID NORTH			
BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST			
MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET;			
3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF 36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE			
NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING. CONTAINING 9.911 ACRES,			
MORE OR LESS.			
CONTAINING 206.541 ACRES, MORE OR LESS.			
ADDITIONALLY:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9,			
TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST			
1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE			
NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF, S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH			
BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF			
BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (1)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH			
BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST			
RIGHT-OF-WAY OF SCENIC HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION			
RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE			
DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET;			
THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E., A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF			
200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9; THENCE ALONG SAID EAST			
BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325 ACRES, MORE OR LESS.			

LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING			
MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE			
WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY,			
N.89°23'07"E., A DISTANCE OF 36.64 FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17),			
ACCORDING TO THE STATE OF FLORIDA STATE ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY			
MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY			
PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF			
BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE			
OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF 200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF			
152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A DISTANCE OF 196.22 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE S.89°24'09"W., A DISTANCE OF 174.65			
FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO AFORESAID EASTERLY RIGHT			
OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A DISTANCE OF 216.86 FEET			
TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 211.113 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (2)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	

AMENDED DISTRICT BOUNDARY

Lake Hamilton Zoning
AG - Agricultural
R-5 - Single Family, Modular RMF - Multi-Family
C-1 - Highway Commercial C-2 - Limited Commercial M-1 - Industrial
PI - Public Institutional
Parks
CON - Conservation
Haines City Zoning
R-1-AAA - Residential R-1-AA - Residential IP - Industrial Park
CG - General Commercial CP - Commercial Park

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

COMPOSITE EXHIBIT 5 - EXISTING LAND USE MAP
SCENIC TERRACE SOUTH CDD

0'	500'

1000'
DATE: 5/16/2023

AMENDED DISTRICT BOUNDARY

Lake Hamilton Future Land Use
AG - Agricultural
RES-M - Residential Lands - M CS - Commercial/Service
IL - Industrial-Light
PBG - Public Buildings and Grounds PARK - Parks
CON - Conservation Lands Unassigned

Polk County Future Land Use
A/RR - Agricultural/Rural INST - Institutional
RL-1 - Residential Low

Haines City Future Land Use
CP - Commercial IP - Industrial Park

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

COMPOSITE EXHIBIT 5 - FUTURE LAND USE MAP
SCENIC TERRACE SOUTH CDD

0'	500'

1000'
DATE: 5/16/2023

EXISTING 16" WATER MAIN
12" FORCE MAIN TO BE
CONSTRUCTED; TIE-IN AT
MANHOLE AT INTERSECTION OF DETOUR ROAD AND BANNON ISLAND ROAD

AMENDED DISTRICT BOUNDARY

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

EXHIBIT 6 - DRAINAGE AND UTILITIES SCENIC TERRACE SOUTH CDD

0'	500'

1000'

DATE: 5/16/2023
Scenic Terrace South CDD
Composite Exhibit 7A - Summary of Proposed District Facilities

District Infrastructure	
Construction	
Ownership	
Capital Financing*	Operation and Maintenance	
Stormwater Facilities	District	District	District Bonds	District	
Lift Stations/Water/Sewer	District	Lake Hamilton	District Bonds	Lake Hamilton	
Street Lighting	District	District	District Bonds	District/Duke Energy	
Onsite Road Construction	District	District	District Bonds	District	
Offsite Road Construction	District	Lake Hamilton	District Bonds	Lake Hamilton/Polk
County	
Entry Feature & Signage	District	District	District Bonds	District	
Recreation Facilities/Amenities	District	District	District Bonds	District	

*Costs not funded by bonds will be funded by the developer.

Facility	Phase 1
434 Lots
2021-2023
Existing Phase	Phase 2
198 Lots
2021-2023
Existing Phase	Phase 3
112 Lots
2023-2024
Existing Phase	Phase 4
99 Lots
2023-2024
Expansion Phase	
Total Lots (843 Lots)	
Earthwork	$	1,454,030	$	891,179	$	353,041.92	$	312,063.84	$	3,010,315	
Roadway	$	2,797,550	$	1,714,627	$	679,252.00	$	600,410.25	$	5,791,839	
Stormwater System	$	2,147,198	$	1,316,025	$	521,345.44	$	460,832.13	$	4,445,401	
Wastewater System	$	2,213,168	$	1,356,458	$	537,362.56	$	474,990.12	$	4,581,979	
Potable Water Distribution System	$	1,253,457	$	768,248	$	304,343.20	$	269,017.65	$	2,595,066	
Reclaimed Water Distribution System	$	801,396	$	491,178	$	194,580.96	$	171,995.67	$	1,659,151	
Electrical Undergrounding	$	1,095,850	$	671,650	$	266,075.04	$	235,191.33	$	2,268,766	
Landscape & Hardscape	$	1,342,223	$	822,653	$	325,895.36	$	288,068.22	$	2,778,840	
Amenitites (Cabana, Tot Lots, and Recreation Areas)	$	930,000	$	570,000	$	225,806.56	$	199,596.87	$	1,925,403	
Offsite Improvements	$	1,122,897	$	1,122,897	$  1,122,897.25	$  1,122,897.25	$	4,491,589	

Subtotal	
$	15,157,769	
$	9,724,915	
$	4,530,600	
$	4,135,063	
$	33,548,348	
Professional Fees (10%)					$	3,354,835	

Subtotal					
$	36,903,183	
Contingency (10%)					$	3,690,318	

Total					
$	40,593,501	

Notes:
Infrastructure consists of public roadway improvements, Stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and public neighborhood parks, all of which will be located on land owned by or subject to a permanent easement in favor of the District or another governmental entity.
Excludes grading of each lot in conjunction with home construction, which will be provided by home builder.
Includes Stormwater pond excavation. Does not include the cost of transportation of fill for use of private lots.
Includes sub‐grade, base, asphalt paving, curbing, and civil/site engineering.
Includes subdivision infrastructure and civil/site engineering.
Stormwater does not include grading associated with building pads.
Estimates are based on 2023 cost.
Includes entry features, signage, hardscape, landscape, irrigation and fencing.
CDD will enter into a Lighting Agreement with Duke Energy for the street light poles and lighting service. Includes only the incremental cost of undergrounding.
Estimates based on 843 lots.
The costs associated with the infrastructure are a master cost and is effectively shared by the entire project (All phases).

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OVERALL DRAINAGE AREA MAP SCENIC TERRACE SUBDIVISION
SCENIC HIGHWAY SOUTH, LAKE HAMILTON
POLK COUNTY, FLORIDA
J1alABSOLUTE
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Section 2

AMENDED & RESTATED
MASTER ASSESSMENT METHODOLOGY

FOR

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Date: May 17, 2023

Prepared by

Governmental Management Services – Central Florida, LLC 219 E. Livingston St.
Orlando, FL 32801
Table of Contents

Introduction	3
Purpose	3
Background	3
Special Benefits and General Benefits	4
Requirements of a Valid Assessment Methodology	4
Special Benefits Exceed the Costs Allocated	5
Assessment Methodology	5
Overview	5
Allocation of Debt	6
Allocation of Benefit	6
Lienability Test: Special and Peculiar Benefit to the Property	6
Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments	7
True-Up Mechanism	8
Assessment Roll	8
Appendix	9
Table 1: Development Program	9
Table 2: Capital Improvement Cost Estimates	10
Table 3: Bond Sizing	11
Table 4: Allocation of Improvement Costs	12
Table 5: Allocation of Total Par Debt to Each Product Type	13
Table 6: Par Debt and Annual Assessments	14
Table 7: Preliminary Assessment Roll	15
GMS-CF, LLC does not represent the Scenic Terrace South Community Development District as a Municipal Advisor or Securities Broker nor is GMS-CF, LLC registered to
provide such services as described in Section 15B of the Securities and Exchange Act of 1934, as amended. Similarly, GMS-CF, LLC
does not provide the Scenic Terrace South Community Development District with financial advisory services or offer investment advice in any form.
Introduction

The Scenic Terrace South Community Development District (the “District”) is a local unit of special-purpose government organized and existing under Chapter 190, Florida Statutes as amended. The District anticipates the issuance at this time of not to exceed $47,660,000 of tax- exempt bonds in one or more series (the “Bonds”) for the purpose of financing certain infrastructure improvements (“Capital Improvement Plan”) within the District more specifically described in the Engineer’s Report, dated October 13, 2021, which was amended on May 16, 2023, prepared by Dewberry Engineers Inc. as may be amended and supplemented from time to time (the “Engineer’s Report”). The District anticipates the construction of all or a portion of the Capital Improvements or Capital Improvement Plan (“Capital Improvements”) that benefit property owners within the District.

Purpose

The Board of Supervisors (“Board”) of the District previously approved the Master Assessment Methodology, dated October 13, 2021 (the “Master Report”). The Master Report established an assessment methodology the District followed to allocate debt assessments to properties within the District benefiting benefitting from the District’s CIP. Such assessments secure repayment of the Bonds. The District also previously adopted as a supplement to the Master Report, at the time of the issuance of the District’s $22,350,000 Special Assessment Bonds, Series 2022 (“Series 2022 Bonds”), Supplemental Assessment Methodology report dated March 16, 2022 (“Series 2022 Supplemental Report”). The Series 2022 Bonds remain unchanged by this report. The Series 2022 Supplemental Report applied the methodology to the details of the Series 2022 Bonds to allocate debt assessments (“Series 2022 Assessments”) to properties within the District to secure the repayment of the Series 2022 Bonds.

The methodology established by the Master Report allocated debt assessments to planned future units of residential product types. Since adoption of the Master Report, there have been expansions to the Districts boundaries to add new parcels within the District, such that not all of the assumed planned lots found in the Master Report represent the development planned for the District and so must be revised. Specifically, the revised development plan revises the unit mix to include an additional 99 lots in Phase 4.

This Amended and Restated Master Assessment Methodology amends and restates the original approved Master Report (collectively, the “Assessment Report”) provides for an assessment methodology that reflects the additional parcels, improvements, and planned lots.

This Assessment Report continues to allocate the debt to properties based on the special benefits each receives from the Capital Improvements. This Assessment Report will be supplemented with one or more supplemental methodology reports to reflect the actual terms and conditions at the time of the issuance of each series of Bonds issued to finance all or a portion of the Capital Improvements. This Assessment Report is designed to
conform to the requirements of Chapters 190 and 170, Florida Statutes, with respect to special assessments and is consistent with our understanding of case law on this subject.

The District intends to levy, impose and collect non ad valorem special assessments (“Special Assessments”) on the benefited lands within the District securing repayment of the Bonds based on this Assessment Report. It is anticipated that all of the proposed Special Assessments will be collected through the Uniform Method of Collection described in Section 197.3632, Florida Statutes or any other legal means available to the District. It is not the intent of this Assessment Report to address any other assessments, if applicable, that may be levied by the District including those for maintenance and operation of the Bonds, a homeowner’s association, or any other unit of government.

Background

The District currently includes approximately 206.56 gross developable acres within Town of Lake Hamilton, Florida and Polk County. The District is also being expanded to include an additional 4.55 acres. The development program for the District currently envisions approximately 843 residential units. The proposed development program is depicted in Table 1. It is recognized that such development plan may change, and this Assessment Report will be modified or supplemented accordingly.

The Capital Improvements contemplated by the District in the Capital Improvement Plan will provide facilities that benefit certain property within the District. Specifically, the District will construct and/or acquire certain earthwork, roadway, stormwater, wastewater, potable & reclaimed systems, electrical undergrounding, landscape & hardscape, amenities, offsite improvements, professional fees and contingency. The acquisition and construction costs are summarized in Table 2.

The assessment methodology is a four-step process.

The District Engineer must first determine the public infrastructure improvements that may be provided by the District and the costs to implement the Capital Improvements.
The District Engineer determines the assessable acres that benefit from the District’s Capital Improvements.
A calculation is made to determine the funding amounts necessary to acquire and/or construct the Capital Improvements.
This amount is initially divided equally among the benefited properties on a prorated assessable acreage basis. Ultimately, as land is platted, this amount will be assigned to each of the benefited properties based on the number and type of platted units.
Special Benefits and General Benefits

Capital Improvements undertaken by the District create special and peculiar benefits to the property, different in kind and degree, for properties within its borders as well as general benefits to the public at large. However, as discussed within this Assessment Report, these general benefits are incidental in nature and are readily distinguishable from the special and peculiar benefits, which accrue to property within the District. The implementation of the Capital Improvement Plan enables properties within the boundaries of the District to be developed. Without the District’s Capital Improvement Plan, there would be no infrastructure to support development of land within the District. Without these improvements, development of the property within District would be prohibited by law.

The general public and property owners outside of the District may benefit from the provision of the Capital Improvements. However, any such benefit will be incidental for the purpose of the Capital Improvement Plan, which is designed solely to meet the needs of property within the District. Properties outside of the District boundaries do not depend upon the District’s Capital Improvements. The property owners within the District are therefore receiving special benefits not received by the general public and those outside of the District’s boundaries.

Requirements of a Valid Assessment Methodology

There are two requirements under Florida law for a valid special assessment:

The properties must receive a special benefit from the Capital Improvements being paid for.
The assessments must be fairly and reasonably allocated or apportioned to the properties being assessed based on the special benefit such properties receive.

Florida law provides for a wide application of special assessments that meet these two characteristics of special assessments.

Special Benefits Will Equal or Exceed the Costs Allocated

The special benefits provided to the property within the District will be equal to or greater than the costs associated with providing these benefits. The District Engineer estimates that the District’s Capital Improvement Plan that is necessary to support full development of property within the District will cost approximately $40,593,501. The District’s Underwriter projects that financing costs required to fund the Capital Improvement Plan costs, the cost of issuance of the Bonds, the funding of a debt service reserve account and capitalized interest, will be approximately $47,660,000. Without the Capital Improvement Plan, the property within the District would not be able to be developed and occupied by future residents of the community.
Assessment Methodology

Overview

The District anticipates issuing approximately $47,660,000 in Bonds in one or more series to fund the District’s entire Capital Improvement Plan, provide for capitalized interest, a debt service reserve account and pay cost of issuance. It is the purpose of this Assessment Report to allocate the $47,660,000 in debt to the properties within the District benefiting from the Capital Improvement Plan. This report will be supplemented to reflect actual bond terms.

Table 1 identifies the land uses and lot sizes in the development as identified by the Developer within the District. The District has commissioned an Engineer’s Report that includes estimated construction costs for the Capital Improvements needed to support the development; these construction costs are outlined in Table 2. The Capital Improvements needed to support the development are described in detail in the Engineer’s Report and are estimated to cost $40,593,501. Based on the estimated costs, the size of the Bond issue under current market conditions needed to generate funds to pay for the Capital Improvements and related costs was determined by the District’s Underwriter to total approximately $47,660,000. Table 3 shows the breakdown of the Bond sizing.

Allocation of Debt

Allocation of debt is a continuous process until the development plan for the District are completed. Until the platting process occurs, the Capital Improvements funded by District Bonds benefits all acres within the District.

The initial assessments will be levied on an equal basis to all gross acreage within the District. A fair and reasonable methodology allocates the debt incurred by the District proportionately to the properties receiving the special benefits. At this point all of the lands within the District are benefiting from the Capital Improvements.

Once platting or the recording of a declaration of condominium of any portion of the District into individual lots or units (“Assigned Properties”) has begun, the Special Assessments will be levied to the Assigned Properties based on the benefits they receive, on a first platted, first assigned basis. The “Unassigned Properties” defined as property that has not been platted or subjected to a declaration of condominium, will continue to be assessed on a per acre basis. Eventually the development plan will be completed and the debt relating to the Bonds will be allocated to the assigned properties within the District, which are the beneficiaries of the Capital Improvement Plan, as depicted in Table 5 and Table 6. If there are changes to development plan, a true up of the assessment will be calculated to determine if a debt reduction or true-up payment from the Developer is required. The process is outlined in Section 3.0.
The assignment of debt in this Assessment Report sets forth the process by which debt is apportioned. As mentioned herein, this Assessment Report will be supplemented from time to time.

Allocation of Benefit

The Capital Improvement Plan consists of earthwork, roadway, stormwater, wastewater, potable & reclaimed systems, electrical undergrounding, landscape & hardscape, amenities, offsite improvements, professional fees and contingency. There are two product types within the planned development. The single-family 40’ home has been set as the base unit and has been assigned one equivalent residential unit (“ERU”). Table 4 shows the allocation of benefit to the particular product type. It is important to note that the benefit derived from the Capital Improvements on a particular unit will exceed the cost that the unit will be paying for such benefits.

Lienability Test: Special and Peculiar Benefit to the Property

Construction and/or acquisition by the District of its proposed Capital Improvements will provide several types of systems, facilities and services for its residents. These include offsite improvements, stormwater management facilities, mass grading and master systems, utility facilities, roadways, entry features, and park and amenity features. The benefit from the Capital Improvements accrue in differing amounts and are somewhat dependent on the product type receiving the special benefits peculiar to that property type, which flow from the logical relationship of the Capital Improvements to the assigned properties.

Once these determinations are made, they are reviewed in the light of the special benefits peculiar to the property, which flow to the properties as a result of their logical connection from the Capital Improvements actually provided.

For the provision of the Capital Improvement Plan, the special and peculiar benefits are:

the added use of the property,
added enjoyment of the property, and
the increased marketability and value of the property.

These special and peculiar benefits are real and ascertainable but are not yet capable of being calculated as to value with mathematical certainty. However, each is more valuable than either the cost of, or the actual Special Assessment levied for the Improvement as allocated.

Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments
A reasonable estimate of the proportion of special and peculiar benefits received from the public improvements described in the Capital Improvement Plan is delineated in Table 5 (expressed as Allocation of Par Debt per Product Type). This is also shown on Table 7 depicting Allocation of Par Debt per Product Type.

The determination has been made that the duty to pay the non-ad valorem special assessments is fairly and reasonably apportioned because the special and peculiar benefits to the property derived from the acquisition and/or construction of the Capital Improvement Plan have been apportioned to the property within the District according to reasonable estimates of the special and peculiar benefits provided consistent with the product type of assignable properties.

Accordingly, no acre or parcel of property within the boundaries of the District will have a lien for the payment of any Special Assessment more than the determined special benefit particular to that property and therefore, the debt allocation will not be increased more than the debt allocation set forth in this Assessment Report.

In accordance with the benefit allocation suggested for the product types in Table 4, a total debt per unit and an annual assessment per unit have been calculated for each product type (Table 6). These amounts represent the preliminary anticipated per unit debt allocation assuming all anticipated assigned properties are built and sold as planned, and the entire proposed Capital Improvement Plan is constructed.

True Up Mechanism

Although the District does not process plats, declaration of condominiums, site plans or revisions thereto, it does have an important role to play during the course of platting and site planning. Whenever a plat, declaration of condominium or site plan is approved, the District must allocate a portion of its debt to the property according to this Assessment Report outlined herein (“Assigned Property”). In addition, the District must also prevent any buildup of debt on property or land that could be fully conveyed and/or platted without all of the debt being allocated (“Unassigned Property”). To preclude this, when platting for 25%, 50%, 75% and 100% of the units planned for platting has occurred within the District, the District will determine the amount of anticipated Bond Special Assessment revenue that remains on the Unassigned Properties, taking into account the full development plan of the District. If the total anticipated Bond Special Assessment revenue to be generated from the Assigned and Unassigned Properties is greater than or equal to the maximum annual debt service then no debt reduction or true-up payment is required. In the case that the revenue generated is less then the required amount then a debt reduction or true-up payment by the landowner in the amount necessary to reduce the par amount of the outstanding Bonds plus accrued interest to a level that will be supported by the new net annual debt service assessments will be required.

If a true-up payment is made less than 45 days prior to an interest payment date, the amount of accrued interest will be calculated to the next succeeding interest payment date.
Assessment Roll

The District will initially distribute the Special Assessments across the property within the District boundaries on a gross acreage basis. As Assigned Properties become known with certainty, the District will refine its allocation of debt from a per acre basis to a per unit basis as shown in Table 6. If the land use plan or product type changes, then the District will update Table 6 to reflect the changes as part of the foregoing true-up process. As a result, the assessment liens are not finalized with certainty on any acre of land in the District prior to the time final Assigned Properties become known. The preliminary assessment roll is attached as Table 7.

Land Use*	Units	ERUs per Unit (1)	Total ERUs	
Single Family - 40'	293	1	293	
Single Family - 50'	550	1.25	687.5	
Total Units	843		981	

(1) Benefit is allocated on an ERU basis; based on density of planned development, SF 40' lot at 1 ERU

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Capital Improvement Plan ("CIP") (1)	Total Cost Estimate	
Earthwork	$	3,010,315	
Roadway	$	5,791,839	
Stormwater System	$	4,445,401	
Wastewater System	$	4,581,979	
Potable Water System	$	2,595,066	
Reclaimed Water Distribution System	$	1,659,151	
Electrical Undergrounding	$	2,268,766	
Landscape & Hardscape	$	2,778,840	
Amenities (Cababna, Tot Lots, and Recreation Areas)	$	1,925,403	
Offsite Improvements	$	4,491,589	
Professional Fees	$	3,354,835	
Contingency	$	3,690,318	
Total	$	40,593,501	

(1) A detailed description of these improvements is provided in the Engineer's Report dated October 13, 2021, Amended May 16, 2023.

Prepared by: Governmental Management Services - Central Florida, LLC

TABLE 3
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT BOND SIZING
AMENDED & RESTATED MASTER ASSESSMENT METHODOLOGY			

Bond Sizing			
Description	Total		
Construction Funds	$		40,593,501	
Debt Service Reserve	$		2,943,029	
Capitalized Interest	$		2,859,600	
Underwriters Discount	$		953,200	
Cost of Issuance	$		310,671	
Par Amount*	$		47,660,000	

Bond Assumptions:			
Average Coupon
Amortization Capitalized Interest Debt Service Reserve Underwriters Discount		6.00%
30 years
12 Months Max Annual
2%	

* Par amount is subject to change based on the actual terms at the sale of the bonds Prepared by: Governmental Management Services - Central Florida, LLC

Land Use	No. of Units *	ERU Factor  Total ERUs
% of Total ERUs
Total Improvements Costs Per Product Type
Improvement Costs Per Unit

Single Family - 40'	293	1	293	29.88%	$	12,130,439	$	41,401	
Single Family - 50'		550		1.25		687.5		70.12%	 $	28,463,061 	$	51,751	
		843				981		100.00%	 $	40,593,501 		

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Land Use	No. of Units *
Total Improvements Costs Per Product Type
Allocation of Par Debt Per Product
Type	Par Per Unit

Single Family - 40'	293
$	12,130,439	$
14,242,101	$
48,608
Single Family - 50'		550	$	28,463,061	$	33,417,899	$	60,760 
	843	$	40,593,501	$	47,660,000	
* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Land Use	

No. of Units *	
Allocation of Par Debt Per Product Type	
Total Par Debt Per Unit	
Maximum Annual Debt Service	Net Annual Debt Assessment Per Unit	Gross Annual Debt Assessment Per Unit (1)						
Single Family - 40'	293	$	14,242,101	$	48,608	$	879,457	$	3,002	$	3,227	
Single Family - 50'		550	$	33,417,899 	$	60,760  $	2,063,572  $	3,752	$	4,034								
		843	$	47,660,000 	 $	2,943,029 										

(1) This amount includes estimated collection fees and early payment discounts when collected on the Polk County Tax Bill

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

TABLE 7
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT PRELIMINARY ASSESSMENT ROLL
AMENDED & RESTATED MASTER ASSESSMENT METHODOLOGY						
						
		Total Par Debt
Allocation Per	
Total Par Debt	Net Annual Debt
Assessment	Gross Annual
Debt Assessment	
Owner	Property ID #'s*	Acres	Acre	Allocated	Allocation	Allocation (1)	
Atlantic Blue Capital LLC	272809000000023010	30.79	$	225,759	$	6,951,122	$	429,235	$	461,543	
Floyd Road Investment LLC	272809000000012020	19.49	$	225,759	$	4,400,045	$	271,705	$	292,156	
Scenic Terrace Investment LLC	272809000000012010	19.23	$	225,759	$	4,341,347	$	268,080	$	288,258	
Scenic Terrace Investment LLC	272810000000034020	19.7	$	225,759	$	4,447,454	$	274,633	$	295,304	
Scenic Terrace Investment LLC	272810000000043010	19.36	$	225,759	$	4,370,696	$	269,893	$	290,207	
Scenic Terrace Investment LLC	272810000000041030	8.96	$	225,759	$	2,022,801	$	124,909	$	134,311	
Atlantic Blue Capital LLC	272809000000014030	25.5	$	225,759	$	5,756,857	$	355,489	$	382,246	
Atlantic Blue Capital LLC	272809000000014020	9.24	$	225,759	$	2,086,014	$	128,812	$	138,508	
HMD West LLC	272809000000041050	8.08	$	225,759	$	1,824,133	$	112,641	$	121,120	
HMD West LLC	272809000000041040	1.5	$	225,759	$	338,639	$	20,911	$	22,485	
Atlantic Blue Capital LLC	272809000000011020	9.93	$	225,759	$	2,241,788	$	138,432	$	148,851	
Turner Investments LTD	272809000000041020	18.77	$	225,759	$	4,237,498	$	261,668	$	281,363	
ST DEV PARTNERS LLC	272809000000013020	10.28	$	225,759	$	2,320,803	$	143,311	$	154,098	
ST DEV PARTNERS LLC	272809000000011030	10.28	$	225,759	$	2,320,803	$	143,311	$	154,098	
Totals	211.11		$	47,660,000	$	2,943,029	$	3,164,547	

Annual Assessment Periods	30	
Projected Bond Rate (%)	6.00%	
Maximum Annual Debt Service	$2,943,029	
This amount includes estimated collection fees and early payment discounts when collected on the Polk County Tax Bill Prepared by: Governmental Management Services - Central Florida, LLC
SCENIC TERRACE SOUTH CDD			
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR A			
DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF BEGINNING;			
THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS RECORDED IN MAP BOOK 2,			
PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH 89°17'17" EAST, 1240.44 FEET; NORTH			
89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17,			
AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF			
641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF			
THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE			
SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE			
44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST			
1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF			
THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF			
HUGHES ROAD, RECORDED IN MAP BOOK 9, PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT			
OF WAY LINE FOR A DISTANCE OF 400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE			
SOUTHWEST 1/4 OF SAID SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH			
RIGHT OF WAY LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET			
OF THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A DISTANCE OF			
400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF THE NORTHEAST 1/4			
OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE SOUTHEAST CORNER OF THE			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST ALONG THE SOUTH LINE OF SAID			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID			
DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF 645.08 FEET TO A POINT ON THE SOUTH			
RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH			
89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST, 100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44"			
WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST, 300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST,			
109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST			
ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN			
NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST			
RIGHT OF WAY LINE OF STATE ROAD 17 AS SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN			
SOUTH 00°33'34" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF			
THE SOUTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON			
THE EAST LINE OF THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH			
03°05'06" WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST, 49.40			
FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00 FEET; SOUTH			
89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF			
1314.71 FEET TO THE POINT OF BEGINNING.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY,			
FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH BOUNDARY THEREOF; THENCE ALONG SAID NORTH			
BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST			
MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET;			
3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF 36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE			
NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING. CONTAINING 9.911 ACRES,			
MORE OR LESS.			
CONTAINING 206.541 ACRES, MORE OR LESS.			
ADDITIONALLY:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9,			
TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST			
1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE			
NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF, S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH			
BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF			
BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (1)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH			
BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST			
RIGHT-OF-WAY OF SCENIC HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION			
RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE			
DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET;			
THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E., A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF			
200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9; THENCE ALONG SAID EAST			
BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325 ACRES, MORE OR LESS.			

LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING			
MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE			
WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY,			
N.89°23'07"E., A DISTANCE OF 36.64 FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17),			
ACCORDING TO THE STATE OF FLORIDA STATE ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY			
MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY			
PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF			
BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE			
OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF 200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF			
152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A DISTANCE OF 196.22 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE S.89°24'09"W., A DISTANCE OF 174.65			
FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO AFORESAID EASTERLY RIGHT			
OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A DISTANCE OF 216.86 FEET			
TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 211.113 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (2)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	

Section 3
RESOLUTION 2023-11

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT AMENDING AND SUPPLEMENTING RESOLUTION 2022-34; AUTHORIZING DISTRICT PROJECTS FOR CONSTRUCTION	AND/OR	ACQUISITION	OF INFRASTRUCTURE IMPROVEMENTS; EQUALIZING, APPROVING, CONFIRMING, AND LEVYING SPECIAL ASSESSMENTS ON THE PROPERTY SPECIALLY BENEFITED BY SUCH PROJECTS TO PAY THE COST THEREOF; PROVIDING FOR THE PAYMENT AND THE COLLECTION OF SUCH SPECIAL ASSESSMENTS BY THE METHODS PROVIDED FOR BY CHAPTERS 170, 190, AND 197, FLORIDA STATUTES; MAKING PROVISIONS FOR TRANSFERS OF REAL PROPERTY TO GOVERNMENTAL BODIES; PROVIDING FOR THE RECORDING OF AN AMENDED ASSESSMENT NOTICE; PROVIDING FOR SEVERABILITY, CONFLICTS AND AN EFFECTIVE DATE.

RECITALS

WHEREAS, the Scenic Terrace South Community Development District (“District”) previously indicated its intention to construct certain types of public infrastructure improvements and to finance such infrastructure improvements through the issuance of bonds, which bonds would be repaid by the imposition of special assessments on benefited property within the District, including Phase 4 of the District; and

WHEREAS, the District Board of Supervisors (“Board”) noticed and conducted a public hearing pursuant to Chapters 170, 190, and 197, Florida Statutes, relating to the imposition, levy, collection, and enforcement of such assessments and now desires to adopt a resolution imposing and levying such assessments.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT AS FOLLOWS:

SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to Chapters 170, 190, and 197, Florida Statutes, including without limitation, Section 170.08, Florida Statutes.

SECTION 2. FINDINGS. The Board hereby finds and determines as follows:

The District is a local unit of special-purpose government organized and existing under the pursuant to Chapter 190, Florida Statutes, as amended.

The District is authorized by Chapter 190, Florida Statutes, to finance, fund, plan, establish, acquire, install, equip, operate, extend, construct, or reconstruct stormwater management facilities; roadways; water and wastewater facilities; off-site improvements (turn lanes); electrical utilities (street lighting); entry features and signage; parks and amenities, and other infrastructure projects and services necessitated by the development of, and serving lands within, the District (collectively, the
“Improvements”), and evidenced its intent to defray the cost of such Improvements pursuant to Resolutions Nos. 2022-27, 2022-28, 2022-34, 2022-41, 2023-05, and 2023-06 (collectively, the “Assessment Resolutions”).

The Town Council of the Town of Lake Hamilton, Florida adopted Ordinance O-21-19 establishing the District, effective October 5, 2021 (the “Establishing Ordinance”), as amended by Ordinance O-23-05, effective on May 2, 2023 (the “Expansion Ordinance,” and together with the Establishing Ordinance, the “Ordinance”), amending the external boundaries of the District to include an additional 30.182 acres of land, more or less (the “Expansion Parcels”). The Board determined it is in the District’s best interest to revise the estimated costs of the Improvements and modify the development plan to incorporate additional improvements to serve lands located in the Expansion Parcels identified as Phase 4 in the Amended and Restated Engineer’s Report, defined herein.

As a result of the annexation of the Expansion Parcels, on May 17, 2023, the Board adopted Resolution No. 2023-05, declaring assessments on the Expansion Parcels, Resolution 2023-06, fixing the date, time, and location of a public hearing, and approving in substantial form the District’s Engineer’s Report-Amended and Restated, dated May 16, 2023 (the “Amended and Restated Engineer’s Report”), attached hereto as Exhibit A and incorporated herein by reference, which amends and supplements the District’s Engineer’s Report-Revised and Amended, dated March 2, 2022 (the “Master Engineer’s Report” together with the Amended and Restated Engineer’s Report, are referred to as the "Engineer’s Report"), which Amended and Restated Engineer’s Report details the revised scope and cost of Improvements necessary to serve the lands located within the District, including the Expansion Parcels, and is hereby approved, adopted, and confirmed.

The District is authorized by Chapter 190, Florida Statutes, to levy and impose special assessments to pay all, or any part of, the cost of such infrastructure projects and services and to issue special assessment bonds payable from such special assessments as provided in Chapters 170, 190, and 197, Florida Statutes.

It is necessary to the public health, safety and welfare and in the best interests of the District that (i) the District provide the Improvements relative to the lands identified as Phase 4, including the Expansion Parcels, the nature and location of which was initially described in Resolution No. 2023-05, and is described in the Amended and Restated Engineer’s Report attached hereto; (ii) The plans and specifications for the Improvements are on file at the office of the District Manager c/o Governmental Management Services-Central Florida, LLC, 219 E. Livingston Street, Orlando, Florida 32801 (“District Records Offices”); (iii) the cost of such Improvements be assessed against the lands within Phase 4 specially benefited by such Improvements; and (iv) the District issue bonds to provide funds for such purposes pending the receipt of such special assessments.

The provision of said Improvements, the levying of such Assessments (hereinafter defined) on Phase 4 and the sale and issuance of such bonds serves a proper, essential, and valid public purpose and is in the best interests of the District, its landowners, and residents.

In order to provide funds with which to pay all or a portion of the costs of the Improvements which are to be assessed against the benefitted properties including Phase 4, pending the collection of such Assessments, it is necessary for the District from time to time to sell and issue its bonds, in one or more series.

By Resolution No. 2023-05, the Board determined to provide the Improvements and to defray the costs thereof by imposing Assessments on Phase 4, and expressed an intention to issue bonds to
provide a portion of the funds needed for the Improvements prior to the collection of such Assessments. Resolution No. 2023-05 was adopted in compliance with the requirements of Section 170.03, Florida Statutes, and prior to the time it was adopted, the requirements of Section 170.04, Florida Statutes, had been met.

As directed by Resolution No. 2023-05, said Resolution No. 2023-05 was published as required by Section 170.05, Florida Statutes, and a copy of the publisher’s affidavit of publication is on file with the Secretary of the Board.

As directed by Resolution No. 2023-05, a preliminary assessment roll was adopted and filed with the Board as required by Section 170.06, Florida Statutes.

As required by Section 170.07, Florida Statutes, upon completion of the preliminary assessment roll, the Board adopted Resolution No. 2023-06, setting the time and place of a public hearing at which owners of the property to be assessed and other persons interested therein may appear before the Board and be heard as to (1) the propriety and advisability of making the Improvements, (2) the cost thereof,
(3) the manner of payment therefore, and (4) the amount thereof to be assessed against each specially benefited property or parcel including Phase 4, and provided for publication of notice of such public hearing and individual mailed notice in accordance with Chapters 170, 190, and 197, Florida Statutes.

Notice of such public hearing was given by publication and also by mail as required by Section 170.07, Florida Statutes. Affidavits as to such publications and mailings are on file in the office of the Secretary of the Board.

On July 19, 2023, at the time and place specified in Resolution No. 2023-06, and the notice referred to in paragraph (m) above, the Board met as an Equalization Board, conducted such public hearing, and heard and considered all complaints and testimony as to the matters described in paragraph (m) above. The Board has made such modifications in the preliminary assessment roll as it deems necessary, just, and right in the making of the final assessment roll.

Having considered the estimated costs of the Improvements, the estimated financing costs and all comments and evidence presented at such public hearing, the Board further finds and determines that:

the estimated costs of the Improvements are as specified in the Amended and Restated Engineer’s Report, which is hereby adopted, approved and confirmed, and that the amount of such costs is reasonable and proper; and

it is reasonable, proper, just and right to assess the cost of such Improvements against the properties specially benefited thereby within Phase 4, using the method determined by the Board set forth in the Amended and Restated Master Assessment Methodology, dated May 17, 2023 (the “Amended and Restated Methodology”), attached hereto as Exhibit B and incorporated herein by reference, which amends the Master Assessment Methodology, dated October 13, 2021, as supplemented by that Supplemental Assessment Methodology, dated March 16, 2022 (collectively, the ”Assessment Methodology”), which results in the allocation of assessments in the manner set forth in the final assessment roll included in Exhibit B (the “Assessments”); and

the Assessment Methodology is hereby approved, adopted and confirmed; and
it is hereby declared that the Improvements will constitute a special benefit to all parcels of real property listed on said final assessment roll and that the benefit, in the case of each such parcel, will be equal to or in excess of the Assessments thereon when allocated as set forth in Exhibit B; and

the costs of the Improvements are fairly and reasonably apportioned to the properties specifically benefitted as set forth in Exhibit B; and

it is in the best interests of the District that the Assessments be paid and collected as herein provided.

it is reasonable, proper, just and right for the District to utilize the true-up mechanisms and calculations contained in the Assessment Report in order to ensure that all parcels of real property benefiting from the Improvements are assessed accordingly and that sufficient assessment receipts are being generated in order to pay the corresponding bond debt-service when due.

SECTION 3.	AUTHORIZATION OF DISTRICT PROJECT.	That construction of
Improvements initially described in Resolution No. 2023-5, and more specifically identified and described in Exhibit A attached hereto, is hereby authorized, and approved and the proper officers, employees and/or agents of the District are hereby authorized and directed to take such further action as may be necessary or desirable to cause the same to be made.

SECTION 4. ESTIMATED COST OF IMPROVEMENTS. The total estimated costs of the Improvements and the costs to be paid by Assessments on all specially benefited property within Phase 4, are set forth in Exhibit A and Exhibit B, respectively, hereto.

SECTION 5.	EQUALIZATION, APPROVAL, CONFIRMATION AND LEVY OF
SPECIAL ASSESSMENTS. The Assessments on the parcels within Phase 4, specially benefited by the Improvements, all as specified in the final assessment roll set forth in Exhibit B, attached hereto, are hereby equalized, approved, confirmed, and levied. Immediately following the adoption of this Resolution, these Assessments, as reflected in Exhibit B, attached hereto, shall be recorded by the Secretary of the Board of the District in a special book, to be known as the “Improvement Lien Book.” The Assessment or assessments against each respective parcel shown on such final assessment roll and interest, costs and penalties thereon, as hereafter provided, shall be and shall remain a legal, valid, and binding first lien on such parcel until paid and such lien shall be coequal with the lien of all state, county, district, municipal or other governmental taxes and superior in dignity to all other liens, titles, and claims. Prior to the issuance of any bonds, including refunding bonds, the District may, by subsequent resolution, adjust the acreage assigned to particular parcel identification numbers listed on the final assessment roll to reflect accurate apportionment of acreage within the District amongst individual parcel identification numbers. The District may make any other such acreage and boundary adjustments to parcels listed on the final assessment roll as may be necessary in the best interests of the District as determined by the Board by subsequent resolution. Any such adjustment in the assessment roll shall be consistent with the requirements of law. In the event the issuance of bonds, including refunding bonds, by the District would result in a decrease of the Assessments, then the District shall by subsequent resolution, adopted within sixty (60) days of the sale of such bonds at a publicly noticed meeting and without the need for further public hearing, evidence such a decrease and amend the final assessment roll as shown in the Improvement Lien Book to reflect such a decrease.

SECTION 6. FINALIZATION OF SPECIAL ASSESSMENTS. When the Improvements have
both been constructed or otherwise provided to the satisfaction of the Board, the Board shall adopt a resolution accepting the same and determining the actual costs (including financing costs) thereof, as required by Sections 170.08 and 170.09, Florida Statutes. Pursuant to the provisions of Section 170.08, Florida Statutes, regarding completion of a project funded by a particular series of bonds, the District shall credit to each Assessment the difference, if any, between the Assessment as hereby made, approved and confirmed and the proportionate part of the actual costs of the Improvements, as finally determined upon completion thereof, but in no event shall the final amount of any such special assessment exceed the amount of benefits originally assessed hereunder. In making such credits, no credit shall be given for bond financing costs, capitalized interest, funded reserves, or bond discounts. Such credits, if any, shall be entered in the Improvement Lien Book.

SECTION 7.	PAYMENT OF SPECIAL ASSESSMENTS AND METHOD OF COLLECTION.

The Assessments may be paid in not more than thirty (30) substantially equal consecutive annual installments of principal and interest. The Assessments may be paid in full without interest at any time within thirty (30) days after the completion of the Improvements and the adoption by the Board of a resolution accepting the Improvements complete, unless such option has been waived by the owner of the land subject to the Assessments; provided, however, that the Board shall at any time make such adjustments by resolution, at a noticed meeting of the Board, to that payment schedule as may be necessary and in the best interests of the District to account for changes in long and short term debt as actually issued by the District. At any time, subsequent to thirty (30) days after the Improvements have been completed and a resolution accepting the Improvements has been adopted by the Board, the Assessments may be prepaid in full including interest amounts to the next succeeding interest payment date or to the second succeeding interest payment date if such a prepayment is made within forty-five (45) calendar days before an interest payment date. The owner of property subject to Assessments may prepay the entire remaining balance of the Assessments at any time, or a portion of the remaining balance of the Assessment one time if there is also paid, in addition to the prepaid principal balance of the Assessment, an amount equal to the interest that would otherwise be due on such prepaid amount on the next succeeding interest payment date, or, if prepaid during the forty-five day (45) period preceding such interest payment date, to the interest payment date following such next succeeding interest payment date. Prepayment of Assessments does not entitle the property owner to any discounts for early payment.

The District may elect to use the method of collecting Assessments authorized by Sections 197.3632 and 197.3635, Florida Statutes (the “Uniform Method”). The District has heretofore taken or will use its best efforts to take as timely required, any necessary actions to comply with the provisions of said Sections 197.3632 and 197.3635, Florida Statutes. Such Assessments may be subject to all of the collection provisions of Chapter 197, Florida Statutes. Notwithstanding the above, in the event the Uniform Method of collecting its special or non-ad valorem assessments is not available to the District in any year, or if determined by the District to be in its best interest, the Assessments may be collected as is otherwise permitted by law. The District may, in its sole discretion, collect Assessments by directly assessing landowner(s) and enforcing said collection in any manner authorized by law.

For the period the District uses the Uniform Method, the District shall enter into an agreement with the Tax Collector of Polk County who may notify each owner of a lot or parcel within the District of the amount of the special assessment, including interest thereon, in the manner provided in Section 197.3635, Florida Statutes.

SECTION 8. APPLICATION OF TRUE-UP PAYMENTS.
Pursuant to the Assessment Report, attached hereto as Exhibit B, and any reports supplemental thereto, there may be required from time to time certain true-up payments. As parcels of land or lots are platted, the Assessments securing the bonds shall be allocated as set forth in such reports. In furtherance thereof, at such time as parcels or land or lots are platted, it shall be an express condition of the lien established by this Resolution that any and all initial plats of any portion of the lands within the District, as the District’s boundaries may be amended from time to time, shall be presented to the District Manager for review, approval and calculation of the percentage of acres and numbers of units which will be, after the plat, considered to be developed. No further action by the Board of Supervisors shall be required. The District’s review shall be limited solely to this function and the enforcement of the lien established by this Resolution. The District Manager shall cause the Assessments to be reallocated to the units being platted and the remaining property in accordance with such Assessment Report and supplemental assessment methodology report(s), as applicable, cause such reallocation to be recorded in the District’s Improvement Lien Book, and shall perform the true-up calculations described in Exhibit B, which process is incorporated herein as if fully set forth (the “True-Up Methodology”). Any resulting true-up payment shall become due and payable that tax year by the landowner(s) of record of the remaining unplatted property, in addition to the regular assessment installment payable with respect to such remaining unplatted acres.

The District will take all necessary steps to ensure that true-up payments are made in a timely fashion to ensure its debt service obligations are met. The District shall record all true-up payments in its Improvement Lien Book.

The foregoing is based on the District’s understanding with the landowner and primary developer of the lands within Phase 4, that it intends to develop the unit numbers and types shown in Exhibit B, on the net developable acres within Phase 4, and is intended to provide a formula to ensure that the appropriate ratio of the Assessments to gross acres is maintained if fewer units are developed. However, no action by the District prohibits more than the maximum units shown in Exhibit B from being developed relative to Phase 4. In no event shall the District collect Assessments pursuant to this Resolution in excess of the total debt service related to the Improvements, including all costs of financing and interest. The District recognizes that such events as regulatory requirements and market conditions may affect the timing and scope of the development in the District. If the strict application of the True-Up Methodology to any assessment reallocation pursuant to this paragraph would result in Assessments collected in excess of the District’s total debt service obligation for the Improvements, the Board shall by resolution take appropriate action to equitably reallocate the Assessments. Further, upon the District’s review of the final plat for the developable acres within Phase 4, any unallocated Assessments shall become due and payable and must be paid prior to the District’s approval of that plat.

The application of the monies received from true-up payments or Assessments to the actual debt service obligations of the District, whether long term or short term, shall be set forth in the supplemental assessment resolution adopted for each series of bonds actually issued. Such subsequent resolution shall be adopted at a noticed meeting of the District, and shall set forth the actual amounts financed, costs of issuance, expected costs of collection, and the total amount of the assessments pledged to that issue, which amount shall be consistent with the lien imposed by this Resolution.

SECTION 9. GOVERNMENT PROPERTY; TRANSFERS OF PROPERTY TO UNITS OF
LOCAL, STATE, AND FEDERAL GOVERNMENT. Property owned by units of local, state, and federal government shall not be subject to the Assessments without specific consent thereto. If at any time, any real property on which Assessments are imposed by this Resolution is sold or otherwise transferred to a unit of local, state, or federal government (without consent of such governmental unit to the imposition of Assessments thereon), all future unpaid Assessments for such tax parcel shall become due and payable immediately prior to such transfer without any further action of the District.
SECTION 10. ASSESSMENT NOTICE. The District’s Secretary is hereby directed to record an Amended Notice of Assessments in the Official Records of Polk County, Florida, which shall be updated from time to time in a manner consistent with changes in the boundaries of the District.

SECTION 11. SEVERABILITY. If any section or part of a section of this Resolution be declared invalid or unconstitutional, the validity, force and effect of any other section or part of a section of this Resolution shall not thereby be affected or impaired unless it clearly appears that such other section or part of a section of this Resolution is wholly or necessarily dependent upon the section or part of a section so held to be invalid or unconstitutional.

SECTION 12. CONFLICTS. This Resolution is intended to amend and supplement the Assessment Resolutions relating to the District’s levy of special assessments on the lands within the boundaries of the District benefitting from the public infrastructure improvements set forth in the Amended and Restated Engineer’s Report. As such, all such prior resolutions, including but not limited to the Assessment Resolutions, remain in full force and effect, except to the extent provided for herein.

SECTION 13. EFFECTIVE DATE. This Resolution shall become effective upon its adoption. [Remainder of this page intentionally left blank]
APPROVED AND ADOPTED this 19th day of July 2023.

ATTEST:	SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Exhibit A:	Engineer’s Report-Amended and Restated, dated May 16, 2023
Exhibit B:	Amended and Restated Master Assessment Methodology, dated May 17, 2023

Scenic Terrace South Community Development District
Engineer's Report – Amended and Restated
May 16, 2023

SUBMITTED BY:
Dewberry Engineers Inc. 800 North Magnolia Avenue Suite 1000
Orlando, Florida 32803
407-843-5120
TABLE OF CONTENTS

Introduction	2
Purpose and Scope	3
The Development	3
Capital Improvements	3
Stormwater Management Facilities	4
Public Roadways	4
Water and Wastewater Facilities	5
Off-Site Utilities	5
Amenities and Parks	5
Electric Utilities and Lighting	5
Entry Features	5
Miscellaneous	6
Permitting	6
Recommendation	6
Report Modification	6
Summary and Conclusion	6
Engineer’s Certification	7
List of Exhibits
Aerial Location Map	Exhibit 1
Legal Description of Existing District	Exhibit 2
Legal Description of Expansion/Contraction Parcels	Exhibits 3A-3C
Legal Description of Amended District	Exhibit 4
Existing Land Use Map	Composite Exhibit 5
Future Land Use Map	Composite Exhibit 5
Utility Location Map and Drainage Flow Pattern Map	Exhibit 6
Summary of District Facilities	Exhibit 7A
Summary of Opinion of Probable Cost	Exhibit 7B
Overall Site Plan	Exhibit 8

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Scenic Terrace South Community Development District
INTRODUCTION
The Scenic Terrace South Community Development District (the ''District" or “CDD”) is located at Scenic Highway (SR 17) and Hughes Road and within the Town of Lake Hamilton (the “Town). The CDD was established under Town Ordinance No. O-21-19, which was approved by the Town of Lake Hamilton Commission on October 5, 2021. The District will own and operate the public roadways, utility systems, and stormwater management facilities, as well as the landscape, irrigation, signage, and recreational facilities within the development. The District previously contained approximately 188.33 acres and was expected to consist of 744 residential lots of various sizes for single-family dwellings with recreation/amenity areas, parks, and associated infrastructure for the development. On May 2, 2023, Ordinance No. O-23-05 was passed in the Town of Lake Hamilton, effectively removing approximately 15.699 acres of land from the District, adding approximately 30.182 acres of land to the District, and correcting a scrivener’s error regarding the original metes and bounds legal description of the District. After the Ordinance was passed, this brought the total area of the District to 211.11 acres, with an expected 843 residential lots of various sizes.

The Master Developer (“Developer”) Atlantic Blue Communities II, LLC is based in Lake Wales, Florida. The Development is approved as a Planned Unit Development (PUD) for residential units and is divided into four phases. A land use summary is presented in Table 1.

Public improvements and facilities financed, acquired, and/or constructed by the District will be designed and constructed to conform to regulatory criteria from the Town, county, Southwest Florida Water Management District (SWFWMD), and other applicable agencies with regulatory jurisdiction over the development, an overall estimate of the probable cost of the public improvements are provided in Exhibit 7 of this report.

The Capital Improvement Plan (CIP) or this Engineer’s Report reflects the present intentions of the District and the landowners. It should be noted that the location of the proposed facilities and improvements may be adjusted during the final design, permitting, and implementation phases. It should also be noted that these modifications are not expected to diminish the benefits to the property within the District. The District reserves the right to make reasonable adjustments to the development plan to meet applicable regulatory requirements of agencies with jurisdiction over the development while maintaining a comparable level of benefits to the lands served by the improvements. Changes and modifications are expected as changes in regulatory criteria are implemented.

TABLE 1	AREA	
Master Stormwater System	42.88 ac	
Residential Land (Single-Family 40-ft and 50-ft Lots)	86.79 ac	
Roadways Infrastructure & Public Facilities	67.47 ac	
Open Space/Conservation Areas/Parks	13.97 ac	
TOTAL	211.11 ac	

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
TABLE 3 LOT TYPES			
LOT TYPE	UNITS	AREA (AC)	
40-ft Lots	293	25.21 ac	
50-ft Lots	550	61.58 ac	
TOTAL LOTS IN THE DISTRICT	843	86.79 ac	

Implementation of any proposed facilities or improvements outlined in this report requires written approval from the District's Board of Supervisors. Estimated costs outlined in this report are based on the best available information, which includes but is not limited to previous experience with similar projects. Actual costs could be different than estimates as final engineering and specific field conditions may affect construction costs.

All roadway improvements including sidewalks in the right-of-way and storm drainage collection systems (from the curb inlets to their connection to the stormwater ponds) within the development will be maintained by the District. Water distribution and wastewater collection systems (gravity lines, force mains, and lift stations) will be dedicated to the Town of Lake Hamilton and Haines City for ownership and maintenance upon completion.

PURPOSE AND SCOPE
The purpose of this report is to provide engineering support for the funding of the proposed improvements within the District. This report will identify the proposed public infrastructure to be constructed or acquired by the District along with an Opinion of Probable Construction Costs. The District will finance, construct, acquire, operate, and maintain all or specific portions of the proposed public infrastructure.

The predominant portion of this report provides descriptions of the proposed public infrastructure improvements, determination of estimated probable construction costs, and the corresponding benefits associated with the implementation of the described improvements. Detailed site construction plans and specifications have been completed and permitted for the improvements described herein. The engineer has considered and, in specific instances, has relied upon the information and documentation prepared or supplied by others to prepare this Engineer’s Report.

THE DEVELOPMENT
The development will consist of a total of 843 residential units and associated infrastructure. The development is a planned residential community consisting of 211.11 acres on the east and west sides of SR 17 Scenic Highway and the north and south sides of Hughes Road. The District is located within the Town of Lake Hamilton in Polk County. The future land use is Residential Lands – 5 (RL-5) and zoning is Planned Unit Development (PUD). The development will be constructed in four phases.

CAPITAL IMPROVEMENTS
The CIP consists of public infrastructure in the development. The primary portions of the CIP will provide for stormwater pond construction, roadways built to an urban roadway typical section, water, and sewer facilities including three lift stations, and off-site improvements (including turn lanes and extension of water and sewer mains to serve the development).

There will also be stormwater structures and conveyance culverts within the CIP, which will outfall into the various on- site stormwater ponds. These structures and pond areas comprise the overall stormwater facilities of the CIP.

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Installation of the water distribution and wastewater collection system will also occur at this time, as well as the three lift stations serving the project. Below-ground installation of telecommunications and cable television will occur but will not be funded by the District. Installation of streetlights and undergrounding of power within the public rights-of-way or easements will be funded by the District.

As a part of the recreational component of the CIP, there are conservation areas that can serve as passive parks within the development that are available to the public for utilization of the facilities. The recreational areas will have connectivity via sidewalks to the other portions of the District. The recreational areas will be accessed by the public roadways and sidewalks.

CAPITAL IMPROVEMENT PLAN COMPONENTS
The CIP for the District includes the following:

Stormwater Management Facilities
Stormwater management facilities consisting of storm conveyance systems and retention/detention ponds are contained within the District boundaries. Stormwater will be discharged via roadway curb and gutter and storm inlets. Storm culverts convey the runoff into the proposed retention ponds for water quality treatment and attenuation. The proposed stormwater systems will utilize dry retention and wet retention for biological pollutant assimilation to achieve water quality treatment. The design criteria for the District’s stormwater treatment systems are regulated by the Town, the county, and SWFWMD. There are very few conservation areas throughout the District, which will be preserved in the existing condition and will accept stormwater discharges from our ponds as shown in Exhibit 6.

Federal Emergency Management Agency Flood Insurance Rate Map (FEMA FIRM) Panel Numbers 12105C0380G and 12105C0390G demonstrates that the property is located within Flood Zones AE and X. Based on this information and the site topography, it appears that 100-year compensation will be done in areas where we will impact existing depressions throughout the development and the 100-year flood volumes will be compensated as it is required the county and FEMA.

During the construction of stormwater management facilities, utilities, and roadway improvements the contractor will be required to adhere to a Stormwater Pollution Prevention Plan (SWPPP) as required by the FDEP as delegated by the Environmental Protection Agency (EPA). The SWPPP will be prepared to depict the proposed recommended locations of required erosion control measures and staked turbidity barriers specifically along the downgradient side of any proposed construction activity. The site contractor will be required to provide the necessary reporting as required by the National Pollutant Discharge Elimination System (NPDES) General Permit with erosion control, its maintenance, and any rainfall events that occur during construction activity.

Public Roadways
The proposed public roadway sections include a 24-foot roadway consisting of asphalt and with Miami curbs or Type F curb and gutter on both sides along with a 50-foot right-of-way. The proposed roadway section will consist of stabilized subgrade, a lime rock, crushed concrete, or cement-treated base and asphalt type roadway wearing surface. The proposed curb is to be 2-feet wide and placed along the edge of the proposed roadway section for purposes of protecting the integrity of the pavement, and also to provide stormwater runoff conveyance to the proposed stormwater inlets.

The proposed roadways will also require signage and pavement markings within the public rights-of-way, as well as street signs depicting street name identifications, and addressing, which will be utilized by the residents and public. As

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
stated above, the District's funding of roadway construction will occur for all public roadways.

Water and Wastewater Facilities
A potable drinking water system inclusive of a water main, gate valves, fire hydrants, and appurtenances will be installed for the District. The water service provider will be the Town of Lake Hamilton or Haines City Public Utilities. The water system will be designed to provide an equally distributed system that provides redundancy to the system. These facilities will be installed within the proposed public rights-of-way and will provide potable drinking water (domestic) and fire protection services to serve the entire District.

A domestic wastewater collection system inclusive of gravity sanitary sewer mains and sewer laterals will be installed. The gravity sanitary sewer mains will be a minimum of eight (8)-inch diameter PVC pipe systems. The gravity sanitary sewer lines will be placed inside of the proposed public rights-of-way, under the proposed paved roadways. Sewer laterals will branch off from these sewer lines to serve the development. Three lift stations are anticipated for this CIP. Flow from the lift stations shall be connected to a proposed force main that will pump to an existing force main that will connect to the Town’s or Haines City’s wastewater treatment facility.

Off-Site Improvements
The District will provide funding for the anticipated turn lanes at the development entrances. The site construction activities associated with the CIP are anticipated to be completed in the next two (2) to three (3) years. Upon completion of each phase, the improvements will be through the required inspections as well as final certifications of completions will be obtained from SWFWMD, Polk County Health Department (water distribution system), FDEP (wastewater collection), Town of Lake Hamilton Public Utilities, and the county.

Amenities and Parks
The District will provide funding for an amenity center to include the following: parking areas, pavilion with restroom facilities, pool, all-purpose playfields, and walking trails between the phases and villages to provide connectivity to the various amenity centers within the CDD. In addition, there will be passive parks throughout the development, which will include benches and walking trails.

Electric Utilities and Lighting
The electric distribution system thru the District is currently planned to be underground, The District presently intends to fund and construct the undergrounding of the electric conduits, transformer/cabinet pads, and electric manholes required by Duke Energy (Duke). Electric facilities will be maintained by Duke after the dedication to The District, with Duke providing underground electrical service to the Development. The CDD presently intends to fund the cost to purchase and install the street lighting along the internal roadways within the CDD.
Entry Feature
Landscaping, irrigation, entry features, and walls at the entrances and along the outside boundary of the Development will be provided by the District. The irrigation system will use an irrigation well. The well and irrigation water mains to the various phases of the development will be constructed and acquired by the CDD with District funds and operated and maintained by the CDD. Landscaping for the roadways will consist of sod, annual flowers, shrubs, ground cover, and trees for the internal roadways within the CDD. Perimeter fencing will be provided at the site entrances and perimeters. These items will be funded, owned, and maintained by the CDD.

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Miscellaneous
The stormwater improvements, landscaping and irrigation, recreational improvements, street lighting, and certain permits and professional fees as described in this report are being financed by the District to benefit all of the developable real property within the District. The construction and maintenance of the proposed public improvements will benefit the development for the intended use as a single-family/residential planned development.

Permitting
Construction permits for all phases are required and include the SWFWMD ERP, Polk County Health Department, FDEP, and Town of Lake Hamilton construction plan approval.

Following is a summary of required permits obtained or pending approval for the construction of the public infrastructure improvements for the District:

Permits/Approvals	Approval/Expected Date	
Zoning Approval	Residential	Planned	Unit	Development
(RPUD) – Approved June 1, 2021	
SWFWMD ERP	Approved October 31, 2022 – Permit No.
45372.001	
Town of Lake Hamilton – Site Plans	Approved February 22, 2022	
FDEP Sanitary Sewer General Permit	Approved May 18, 2022 – Permit No. CS53-
0420586-001-DWC/CM	
FDEP Water Distribution General Permit	Approved April 7, 2022 – Permit No. 139218-
041	
FDEP NOI	Effective April 7, 2022 – ID No. FLR20FH97-
001	

RECOMMENDATION
As previously explained within this report, the public infrastructure, as described, is necessary for the development and functional operation as required by the Town. The site planning, engineering design, and construction plans for the infrastructure are in accordance with the applicable requirements of the Town of Lake Hamilton, Polk County, and the SWFWMD. It should be noted that the infrastructure will provide its intended use and function so long as the construction and installation are in substantial conformance with the design construction plans and regulatory permits.

Items utilized in the Opinion of Probable Costs for this report are based upon the proposed plan infrastructure as shown on construction drawings incorporating specifications in the most current SWFWMD, Polk County, and the Town regulations.

REPORT MODIFICATION
During the development and implementation of the designed public infrastructure improvements, it may be necessary to make modifications and/or deviations to the plans. However, if such deviations and/or revisions do not change the overall primary objective of the plan for such improvements, then the cost differences would not materially affect the proposed construction cost estimates.

SUMMARY AND CONCLUSION
The improvements as outlined are necessary for the functional development of the Project. The Project is being designed

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
in accordance with current government regulatory requirements. The Project will serve its intended function provided the construction is in substantial compliance with the design. Items of construction for the Project are based upon current development plans.

ENGINEER’S CERTIFICATION
It is our professional opinion that the public infrastructure costs for the CIP provided in this report are reasonable to complete the construction of the public infrastructure improvements. Furthermore, the public infrastructure improvements will benefit and add value to lands within the District and the value is at least the same as the costs for said improvements.

The Opinion of Probable Costs for the public infrastructure improvements is only an estimate and is not a guaranteed maximum price. The estimated costs are based upon current unit prices and on our experience with ongoing and similar projects and basis in the county and the Town. However, labor market, future costs of equipment; materials, changes to the regulatory permitting agencies' activities, and the actual construction processes employed by the chosen site contractor are beyond the engineer's control. Due to this inherent opportunity for changes (upward or downward) in the construction costs, the total, final construction cost may be more or less than this estimate.

Based upon the presumption that the CIP construction continues in a timely manner, it is our opinion that the costs of the CIP proposed represent a system of improvements benefitting all developable property located within the District, are fair and reasonable, and that the District-funded improvements are assessable improvements within the meaning of Chapter 190, F.S. We have no reason to believe that the CIP improvements cannot be constructed at the cost described in this report. We expect the improvements to be constructed or acquired by the District with bond proceeds, as indicated within this report. We believe that the District will be well served by the improvements discussed in this report.

I hereby certify that the foregoing is a true and correct copy of the engineer’s report for the Scenic Terrace South Community Development District.

Reinardo Malavé, P.E. Florida License No. 31588

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.

PARCELS LH9 AND LH10: ANNEXED INTO THE TOWN OF LAKE HAMILTON
PARCEL 410: ANNEXED INTO
THE TOWN OF LAKE HAMILTON VIA TOWN ORDINANCE
O-21-15, APPROVED 9/7/2021

LH9

LH10

410

396A

320A
AMENDED DISTRICT BOUNDARY

PARCELS ADDED
PARCELS REMOVED
AMENDED DISTRICT BOUNDARY

PARCEL 410 ADDED TO
DISTRICT BOUNDARY VIA ORDINANCE NO. O-23-05

SECTS 9 & 10, T27S, R28E
PARCELS 396A AND 320A REMOVED FROM DISTRICT BOUNDARY VIA ORDINANCE NO. O-23-05
PARCELS LH9 AND LH10 ADDED TO DISTRICT
BOUNDARY VIA
ORDINANCE NO. O-23-05

EXHIBIT 1 - LOCATION MAP
SCENIC TERRACE SOUTH CDD
0'	500'
1000'

DATE: 5/16/2023
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR			
A DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF			
BEGINNING; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS			
RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH			
89°17'17" EAST, 1240.44 FEET; NORTH 89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN			
MAP BOOK 1, PAGES 14 THROUGH 17, AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID			
WEST RIGHT OF WAY LINE FOR A DISTANCE OF 641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE			
NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST			
ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE			
SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE 44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE			
NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL			
RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF			
SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF HUGHES ROAD, RECORDED IN MAP BOOK 9,			
PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT OF WAY LINE FOR A DISTANCE OF			
400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4 OF SAID			
SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH RIGHT OF WAY			
LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF			
THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A			
DISTANCE OF 400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF			
THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE			
SOUTHEAST CORNER OF THE NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST			
ALONG THE SOUTH LINE OF SAID NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE			
OF 645.08 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND			
DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST,			
100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44" WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST,			
300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST, 109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE			
SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE			
SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID			
NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF STATE ROAD 17 AS			
SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN SOUTH 00°33'34" EAST ALONG SAID WEST			
RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 OF THE			
SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON THE EAST LINE OF			
THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH 03°05'06"			
WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST,			
49.40 FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00			
FEET; SOUTH 89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET			
TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY			
LINE FOR A DISTANCE OF 1314.71 FEET TO THE POINT OF BEGINNING. CONTAINING 196.63 ACRES, MORE OR LESS.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK			
COUNTY, FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD,			
RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH			
BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY			
OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A			
DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF			
36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A			
DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING.			
CONTAINING 9.911 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 206.541 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 2 - LEGAL DESCRIPTION OF		
	EXISTING DISTRICT		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
EXHIBIT 3A - CONTRACTION PARCELS:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE			
PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF			
SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY, N.89°23'07"E., A DISTANCE OF 36.64			
FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17), ACCORDING TO THE STATE OF FLORIDA STATE			
ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING			
TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE			
PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE			
FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF			
200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF 152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A			
DISTANCE OF 196.22 FEET; THENCE S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 174.65 FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO			
AFORESAID EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A			
DISTANCE OF 216.86 FEET TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED			
AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH BOUNDARY OF			
SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST RIGHT-OF-WAY OF SCENIC			
HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE			
ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A			
DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E.,			
A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST			
1/4 OF SECTION 9; THENCE ALONG SAID EAST BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325			
ACRES, MORE OR LESS.			
ALTOGETHER CONTAINING 15.699 ACRES, MORE OR LESS.			

EXHIBIT 3B - NEW EXPANSION PARCELS:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF			
SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH			
BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE			
EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF,			
S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH			
BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			

EXHIBIT 3C - EXPANSION PARCEL 410:			
THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA,			
LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH			
BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY			
OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A			
DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF			
36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A			
DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING.			
CONTAINING 9.911 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
EXHIBITS 3A, 3B, 3C - LEGAL DESCRIPTION			
OF EXPANSION / CONTRACTION PARCELS			
SCENIC TERRACE SOUTH CDD			
	DATE: 5/16/2023		
SCENIC TERRACE SOUTH CDD			
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR A			
DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF BEGINNING;			
THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS RECORDED IN MAP BOOK 2,			
PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH 89°17'17" EAST, 1240.44 FEET; NORTH			
89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17,			
AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF			
641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF			
THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE			
SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE			
44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST			
1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF			
THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF			
HUGHES ROAD, RECORDED IN MAP BOOK 9, PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT			
OF WAY LINE FOR A DISTANCE OF 400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE			
SOUTHWEST 1/4 OF SAID SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH			
RIGHT OF WAY LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET			
OF THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A DISTANCE OF			
400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF THE NORTHEAST 1/4			
OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE SOUTHEAST CORNER OF THE			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST ALONG THE SOUTH LINE OF SAID			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID			
DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF 645.08 FEET TO A POINT ON THE SOUTH			
RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH			
89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST, 100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44"			
WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST, 300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST,			
109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST			
ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN			
NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST			
RIGHT OF WAY LINE OF STATE ROAD 17 AS SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN			
SOUTH 00°33'34" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF			
THE SOUTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON			
THE EAST LINE OF THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH			
03°05'06" WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST, 49.40			
FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00 FEET; SOUTH			
89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF			
1314.71 FEET TO THE POINT OF BEGINNING.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY,			
FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH BOUNDARY THEREOF; THENCE ALONG SAID NORTH			
BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST			
MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET;			
3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF 36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE			
NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING. CONTAINING 9.911 ACRES,			
MORE OR LESS.			
CONTAINING 206.541 ACRES, MORE OR LESS.			
ADDITIONALLY:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9,			
TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST			
1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE			
NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF, S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH			
BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF			
BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (1)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH			
BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST			
RIGHT-OF-WAY OF SCENIC HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION			
RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE			
DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET;			
THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E., A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF			
200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9; THENCE ALONG SAID EAST			
BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325 ACRES, MORE OR LESS.			

LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING			
MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE			
WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY,			
N.89°23'07"E., A DISTANCE OF 36.64 FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17),			
ACCORDING TO THE STATE OF FLORIDA STATE ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY			
MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY			
PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF			
BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE			
OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF 200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF			
152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A DISTANCE OF 196.22 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE S.89°24'09"W., A DISTANCE OF 174.65			
FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO AFORESAID EASTERLY RIGHT			
OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A DISTANCE OF 216.86 FEET			
TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 211.113 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (2)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	

AMENDED DISTRICT BOUNDARY

Lake Hamilton Zoning
AG - Agricultural
R-5 - Single Family, Modular RMF - Multi-Family
C-1 - Highway Commercial C-2 - Limited Commercial M-1 - Industrial
PI - Public Institutional
Parks
CON - Conservation
Haines City Zoning
R-1-AAA - Residential R-1-AA - Residential IP - Industrial Park
CG - General Commercial CP - Commercial Park

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

COMPOSITE EXHIBIT 5 - EXISTING LAND USE MAP
SCENIC TERRACE SOUTH CDD

0'	500'

1000'
DATE: 5/16/2023

AMENDED DISTRICT BOUNDARY

Lake Hamilton Future Land Use
AG - Agricultural
RES-M - Residential Lands - M CS - Commercial/Service
IL - Industrial-Light
PBG - Public Buildings and Grounds PARK - Parks
CON - Conservation Lands Unassigned

Polk County Future Land Use
A/RR - Agricultural/Rural INST - Institutional
RL-1 - Residential Low

Haines City Future Land Use
CP - Commercial IP - Industrial Park

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

COMPOSITE EXHIBIT 5 - FUTURE LAND USE MAP
SCENIC TERRACE SOUTH CDD

0'	500'

1000'
DATE: 5/16/2023

EXISTING 16" WATER MAIN
12" FORCE MAIN TO BE
CONSTRUCTED; TIE-IN AT
MANHOLE AT INTERSECTION OF DETOUR ROAD AND BANNON ISLAND ROAD

AMENDED DISTRICT BOUNDARY

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

EXHIBIT 6 - DRAINAGE AND UTILITIES SCENIC TERRACE SOUTH CDD

0'	500'

1000'

DATE: 5/16/2023
Scenic Terrace South CDD
Composite Exhibit 7A - Summary of Proposed District Facilities

District Infrastructure	
Construction	
Ownership	
Capital Financing*	Operation and Maintenance	
Stormwater Facilities	District	District	District Bonds	District	
Lift Stations/Water/Sewer	District	Lake Hamilton	District Bonds	Lake Hamilton	
Street Lighting	District	District	District Bonds	District/Duke Energy	
Onsite Road Construction	District	District	District Bonds	District	
Offsite Road Construction	District	Lake Hamilton	District Bonds	Lake Hamilton/Polk
County	
Entry Feature & Signage	District	District	District Bonds	District	
Recreation Facilities/Amenities	District	District	District Bonds	District	

*Costs not funded by bonds will be funded by the developer.

Facility	Phase 1
434 Lots
2021-2023
Existing Phase	Phase 2
198 Lots
2021-2023
Existing Phase	Phase 3
112 Lots
2023-2024
Existing Phase	Phase 4
99 Lots
2023-2024
Expansion Phase	
Total Lots (843 Lots)	
Earthwork	$	1,454,030	$	891,179	$	353,041.92	$	312,063.84	$	3,010,315	
Roadway	$	2,797,550	$	1,714,627	$	679,252.00	$	600,410.25	$	5,791,839	
Stormwater System	$	2,147,198	$	1,316,025	$	521,345.44	$	460,832.13	$	4,445,401	
Wastewater System	$	2,213,168	$	1,356,458	$	537,362.56	$	474,990.12	$	4,581,979	
Potable Water Distribution System	$	1,253,457	$	768,248	$	304,343.20	$	269,017.65	$	2,595,066	
Reclaimed Water Distribution System	$	801,396	$	491,178	$	194,580.96	$	171,995.67	$	1,659,151	
Electrical Undergrounding	$	1,095,850	$	671,650	$	266,075.04	$	235,191.33	$	2,268,766	
Landscape & Hardscape	$	1,342,223	$	822,653	$	325,895.36	$	288,068.22	$	2,778,840	
Amenitites (Cabana, Tot Lots, and Recreation Areas)	$	930,000	$	570,000	$	225,806.56	$	199,596.87	$	1,925,403	
Offsite Improvements	$	1,122,897	$	1,122,897	$  1,122,897.25	$  1,122,897.25	$	4,491,589	

Subtotal	
$	15,157,769	
$	9,724,915	
$	4,530,600	
$	4,135,063	
$	33,548,348	
Professional Fees (10%)					$	3,354,835	

Subtotal					
$	36,903,183	
Contingency (10%)					$	3,690,318	

Total					
$	40,593,501	

Notes:
Infrastructure consists of public roadway improvements, Stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and public neighborhood parks, all of which will be located on land owned by or subject to a permanent easement in favor of the District or another governmental entity.
Excludes grading of each lot in conjunction with home construction, which will be provided by home builder.
Includes Stormwater pond excavation. Does not include the cost of transportation of fill for use of private lots.
Includes sub‐grade, base, asphalt paving, curbing, and civil/site engineering.
Includes subdivision infrastructure and civil/site engineering.
Stormwater does not include grading associated with building pads.
Estimates are based on 2023 cost.
Includes entry features, signage, hardscape, landscape, irrigation and fencing.
CDD will enter into a Lighting Agreement with Duke Energy for the street light poles and lighting service. Includes only the incremental cost of undergrounding.
Estimates based on 843 lots.
The costs associated with the infrastructure are a master cost and is effectively shared by the entire project (All phases).

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AMENDED & RESTATED
MASTER ASSESSMENT METHODOLOGY

FOR

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Date: May 17, 2023

Prepared by

Governmental Management Services – Central Florida, LLC 219 E. Livingston St.
Orlando, FL 32801
Table of Contents

Introduction	3
Purpose	3
Background	3
Special Benefits and General Benefits	4
Requirements of a Valid Assessment Methodology	4
Special Benefits Exceed the Costs Allocated	5
Assessment Methodology	5
Overview	5
Allocation of Debt	6
Allocation of Benefit	6
Lienability Test: Special and Peculiar Benefit to the Property	6
Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments	7
True-Up Mechanism	8
Assessment Roll	8
Appendix	9
Table 1: Development Program	9
Table 2: Capital Improvement Cost Estimates	10
Table 3: Bond Sizing	11
Table 4: Allocation of Improvement Costs	12
Table 5: Allocation of Total Par Debt to Each Product Type	13
Table 6: Par Debt and Annual Assessments	14
Table 7: Preliminary Assessment Roll	15
GMS-CF, LLC does not represent the Scenic Terrace South Community Development District as a Municipal Advisor or Securities Broker nor is GMS-CF, LLC registered to
provide such services as described in Section 15B of the Securities and Exchange Act of 1934, as amended. Similarly, GMS-CF, LLC
does not provide the Scenic Terrace South Community Development District with financial advisory services or offer investment advice in any form.
Introduction

The Scenic Terrace South Community Development District (the “District”) is a local unit of special-purpose government organized and existing under Chapter 190, Florida Statutes as amended. The District anticipates the issuance at this time of not to exceed $47,660,000 of tax- exempt bonds in one or more series (the “Bonds”) for the purpose of financing certain infrastructure improvements (“Capital Improvement Plan”) within the District more specifically described in the Engineer’s Report, dated October 13, 2021, which was amended on May 16, 2023, prepared by Dewberry Engineers Inc. as may be amended and supplemented from time to time (the “Engineer’s Report”). The District anticipates the construction of all or a portion of the Capital Improvements or Capital Improvement Plan (“Capital Improvements”) that benefit property owners within the District.

Purpose

The Board of Supervisors (“Board”) of the District previously approved the Master Assessment Methodology, dated October 13, 2021 (the “Master Report”). The Master Report established an assessment methodology the District followed to allocate debt assessments to properties within the District benefiting benefitting from the District’s CIP. Such assessments secure repayment of the Bonds. The District also previously adopted as a supplement to the Master Report, at the time of the issuance of the District’s $22,350,000 Special Assessment Bonds, Series 2022 (“Series 2022 Bonds”), Supplemental Assessment Methodology report dated March 16, 2022 (“Series 2022 Supplemental Report”). The Series 2022 Bonds remain unchanged by this report. The Series 2022 Supplemental Report applied the methodology to the details of the Series 2022 Bonds to allocate debt assessments (“Series 2022 Assessments”) to properties within the District to secure the repayment of the Series 2022 Bonds.

The methodology established by the Master Report allocated debt assessments to planned future units of residential product types. Since adoption of the Master Report, there have been expansions to the Districts boundaries to add new parcels within the District, such that not all of the assumed planned lots found in the Master Report represent the development planned for the District and so must be revised. Specifically, the revised development plan revises the unit mix to include an additional 99 lots in Phase 4.

This Amended and Restated Master Assessment Methodology amends and restates the original approved Master Report (collectively, the “Assessment Report”) provides for an assessment methodology that reflects the additional parcels, improvements, and planned lots.

This Assessment Report continues to allocate the debt to properties based on the special benefits each receives from the Capital Improvements. This Assessment Report will be supplemented with one or more supplemental methodology reports to reflect the actual terms and conditions at the time of the issuance of each series of Bonds issued to finance all or a portion of the Capital Improvements. This Assessment Report is designed to
conform to the requirements of Chapters 190 and 170, Florida Statutes, with respect to special assessments and is consistent with our understanding of case law on this subject.

The District intends to levy, impose and collect non ad valorem special assessments (“Special Assessments”) on the benefited lands within the District securing repayment of the Bonds based on this Assessment Report. It is anticipated that all of the proposed Special Assessments will be collected through the Uniform Method of Collection described in Section 197.3632, Florida Statutes or any other legal means available to the District. It is not the intent of this Assessment Report to address any other assessments, if applicable, that may be levied by the District including those for maintenance and operation of the Bonds, a homeowner’s association, or any other unit of government.

Background

The District currently includes approximately 206.56 gross developable acres within Town of Lake Hamilton, Florida and Polk County. The District is also being expanded to include an additional 4.55 acres. The development program for the District currently envisions approximately 843 residential units. The proposed development program is depicted in Table 1. It is recognized that such development plan may change, and this Assessment Report will be modified or supplemented accordingly.

The Capital Improvements contemplated by the District in the Capital Improvement Plan will provide facilities that benefit certain property within the District. Specifically, the District will construct and/or acquire certain earthwork, roadway, stormwater, wastewater, potable & reclaimed systems, electrical undergrounding, landscape & hardscape, amenities, offsite improvements, professional fees and contingency. The acquisition and construction costs are summarized in Table 2.

The assessment methodology is a four-step process.

The District Engineer must first determine the public infrastructure improvements that may be provided by the District and the costs to implement the Capital Improvements.
The District Engineer determines the assessable acres that benefit from the District’s Capital Improvements.
A calculation is made to determine the funding amounts necessary to acquire and/or construct the Capital Improvements.
This amount is initially divided equally among the benefited properties on a prorated assessable acreage basis. Ultimately, as land is platted, this amount will be assigned to each of the benefited properties based on the number and type of platted units.
Special Benefits and General Benefits

Capital Improvements undertaken by the District create special and peculiar benefits to the property, different in kind and degree, for properties within its borders as well as general benefits to the public at large. However, as discussed within this Assessment Report, these general benefits are incidental in nature and are readily distinguishable from the special and peculiar benefits, which accrue to property within the District. The implementation of the Capital Improvement Plan enables properties within the boundaries of the District to be developed. Without the District’s Capital Improvement Plan, there would be no infrastructure to support development of land within the District. Without these improvements, development of the property within District would be prohibited by law.

The general public and property owners outside of the District may benefit from the provision of the Capital Improvements. However, any such benefit will be incidental for the purpose of the Capital Improvement Plan, which is designed solely to meet the needs of property within the District. Properties outside of the District boundaries do not depend upon the District’s Capital Improvements. The property owners within the District are therefore receiving special benefits not received by the general public and those outside of the District’s boundaries.

Requirements of a Valid Assessment Methodology

There are two requirements under Florida law for a valid special assessment:

The properties must receive a special benefit from the Capital Improvements being paid for.
The assessments must be fairly and reasonably allocated or apportioned to the properties being assessed based on the special benefit such properties receive.

Florida law provides for a wide application of special assessments that meet these two characteristics of special assessments.

Special Benefits Will Equal or Exceed the Costs Allocated

The special benefits provided to the property within the District will be equal to or greater than the costs associated with providing these benefits. The District Engineer estimates that the District’s Capital Improvement Plan that is necessary to support full development of property within the District will cost approximately $40,593,501. The District’s Underwriter projects that financing costs required to fund the Capital Improvement Plan costs, the cost of issuance of the Bonds, the funding of a debt service reserve account and capitalized interest, will be approximately $47,660,000. Without the Capital Improvement Plan, the property within the District would not be able to be developed and occupied by future residents of the community.
Assessment Methodology

Overview

The District anticipates issuing approximately $47,660,000 in Bonds in one or more series to fund the District’s entire Capital Improvement Plan, provide for capitalized interest, a debt service reserve account and pay cost of issuance. It is the purpose of this Assessment Report to allocate the $47,660,000 in debt to the properties within the District benefiting from the Capital Improvement Plan. This report will be supplemented to reflect actual bond terms.

Table 1 identifies the land uses and lot sizes in the development as identified by the Developer within the District. The District has commissioned an Engineer’s Report that includes estimated construction costs for the Capital Improvements needed to support the development; these construction costs are outlined in Table 2. The Capital Improvements needed to support the development are described in detail in the Engineer’s Report and are estimated to cost $40,593,501. Based on the estimated costs, the size of the Bond issue under current market conditions needed to generate funds to pay for the Capital Improvements and related costs was determined by the District’s Underwriter to total approximately $47,660,000. Table 3 shows the breakdown of the Bond sizing.

Allocation of Debt

Allocation of debt is a continuous process until the development plan for the District are completed. Until the platting process occurs, the Capital Improvements funded by District Bonds benefits all acres within the District.

The initial assessments will be levied on an equal basis to all gross acreage within the District. A fair and reasonable methodology allocates the debt incurred by the District proportionately to the properties receiving the special benefits. At this point all of the lands within the District are benefiting from the Capital Improvements.

Once platting or the recording of a declaration of condominium of any portion of the District into individual lots or units (“Assigned Properties”) has begun, the Special Assessments will be levied to the Assigned Properties based on the benefits they receive, on a first platted, first assigned basis. The “Unassigned Properties” defined as property that has not been platted or subjected to a declaration of condominium, will continue to be assessed on a per acre basis. Eventually the development plan will be completed and the debt relating to the Bonds will be allocated to the assigned properties within the District, which are the beneficiaries of the Capital Improvement Plan, as depicted in Table 5 and Table 6. If there are changes to development plan, a true up of the assessment will be calculated to determine if a debt reduction or true-up payment from the Developer is required. The process is outlined in Section 3.0.
The assignment of debt in this Assessment Report sets forth the process by which debt is apportioned. As mentioned herein, this Assessment Report will be supplemented from time to time.

Allocation of Benefit

The Capital Improvement Plan consists of earthwork, roadway, stormwater, wastewater, potable & reclaimed systems, electrical undergrounding, landscape & hardscape, amenities, offsite improvements, professional fees and contingency. There are two product types within the planned development. The single-family 40’ home has been set as the base unit and has been assigned one equivalent residential unit (“ERU”). Table 4 shows the allocation of benefit to the particular product type. It is important to note that the benefit derived from the Capital Improvements on a particular unit will exceed the cost that the unit will be paying for such benefits.

Lienability Test: Special and Peculiar Benefit to the Property

Construction and/or acquisition by the District of its proposed Capital Improvements will provide several types of systems, facilities and services for its residents. These include offsite improvements, stormwater management facilities, mass grading and master systems, utility facilities, roadways, entry features, and park and amenity features. The benefit from the Capital Improvements accrue in differing amounts and are somewhat dependent on the product type receiving the special benefits peculiar to that property type, which flow from the logical relationship of the Capital Improvements to the assigned properties.

Once these determinations are made, they are reviewed in the light of the special benefits peculiar to the property, which flow to the properties as a result of their logical connection from the Capital Improvements actually provided.

For the provision of the Capital Improvement Plan, the special and peculiar benefits are:

the added use of the property,
added enjoyment of the property, and
the increased marketability and value of the property.

These special and peculiar benefits are real and ascertainable but are not yet capable of being calculated as to value with mathematical certainty. However, each is more valuable than either the cost of, or the actual Special Assessment levied for the Improvement as allocated.

Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments
A reasonable estimate of the proportion of special and peculiar benefits received from the public improvements described in the Capital Improvement Plan is delineated in Table 5 (expressed as Allocation of Par Debt per Product Type). This is also shown on Table 7 depicting Allocation of Par Debt per Product Type.

The determination has been made that the duty to pay the non-ad valorem special assessments is fairly and reasonably apportioned because the special and peculiar benefits to the property derived from the acquisition and/or construction of the Capital Improvement Plan have been apportioned to the property within the District according to reasonable estimates of the special and peculiar benefits provided consistent with the product type of assignable properties.

Accordingly, no acre or parcel of property within the boundaries of the District will have a lien for the payment of any Special Assessment more than the determined special benefit particular to that property and therefore, the debt allocation will not be increased more than the debt allocation set forth in this Assessment Report.

In accordance with the benefit allocation suggested for the product types in Table 4, a total debt per unit and an annual assessment per unit have been calculated for each product type (Table 6). These amounts represent the preliminary anticipated per unit debt allocation assuming all anticipated assigned properties are built and sold as planned, and the entire proposed Capital Improvement Plan is constructed.

True Up Mechanism

Although the District does not process plats, declaration of condominiums, site plans or revisions thereto, it does have an important role to play during the course of platting and site planning. Whenever a plat, declaration of condominium or site plan is approved, the District must allocate a portion of its debt to the property according to this Assessment Report outlined herein (“Assigned Property”). In addition, the District must also prevent any buildup of debt on property or land that could be fully conveyed and/or platted without all of the debt being allocated (“Unassigned Property”). To preclude this, when platting for 25%, 50%, 75% and 100% of the units planned for platting has occurred within the District, the District will determine the amount of anticipated Bond Special Assessment revenue that remains on the Unassigned Properties, taking into account the full development plan of the District. If the total anticipated Bond Special Assessment revenue to be generated from the Assigned and Unassigned Properties is greater than or equal to the maximum annual debt service then no debt reduction or true-up payment is required. In the case that the revenue generated is less then the required amount then a debt reduction or true-up payment by the landowner in the amount necessary to reduce the par amount of the outstanding Bonds plus accrued interest to a level that will be supported by the new net annual debt service assessments will be required.

If a true-up payment is made less than 45 days prior to an interest payment date, the amount of accrued interest will be calculated to the next succeeding interest payment date.
Assessment Roll

The District will initially distribute the Special Assessments across the property within the District boundaries on a gross acreage basis. As Assigned Properties become known with certainty, the District will refine its allocation of debt from a per acre basis to a per unit basis as shown in Table 6. If the land use plan or product type changes, then the District will update Table 6 to reflect the changes as part of the foregoing true-up process. As a result, the assessment liens are not finalized with certainty on any acre of land in the District prior to the time final Assigned Properties become known. The preliminary assessment roll is attached as Table 7.

Land Use*	Units	ERUs per Unit (1)	Total ERUs	
Single Family - 40'	293	1	293	
Single Family - 50'	550	1.25	687.5	
Total Units	843		981	

(1) Benefit is allocated on an ERU basis; based on density of planned development, SF 40' lot at 1 ERU

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Capital Improvement Plan ("CIP") (1)	Total Cost Estimate	
Earthwork	$	3,010,315	
Roadway	$	5,791,839	
Stormwater System	$	4,445,401	
Wastewater System	$	4,581,979	
Potable Water System	$	2,595,066	
Reclaimed Water Distribution System	$	1,659,151	
Electrical Undergrounding	$	2,268,766	
Landscape & Hardscape	$	2,778,840	
Amenities (Cababna, Tot Lots, and Recreation Areas)	$	1,925,403	
Offsite Improvements	$	4,491,589	
Professional Fees	$	3,354,835	
Contingency	$	3,690,318	
Total	$	40,593,501	

(1) A detailed description of these improvements is provided in the Engineer's Report dated October 13, 2021, Amended May 16, 2023.

Prepared by: Governmental Management Services - Central Florida, LLC

TABLE 3
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT BOND SIZING
AMENDED & RESTATED MASTER ASSESSMENT METHODOLOGY			

Bond Sizing			
Description	Total		
Construction Funds	$		40,593,501	
Debt Service Reserve	$		2,943,029	
Capitalized Interest	$		2,859,600	
Underwriters Discount	$		953,200	
Cost of Issuance	$		310,671	
Par Amount*	$		47,660,000	

Bond Assumptions:			
Average Coupon
Amortization Capitalized Interest Debt Service Reserve Underwriters Discount		6.00%
30 years
12 Months Max Annual
2%	

* Par amount is subject to change based on the actual terms at the sale of the bonds Prepared by: Governmental Management Services - Central Florida, LLC

Land Use	No. of Units *	ERU Factor  Total ERUs
% of Total ERUs
Total Improvements Costs Per Product Type
Improvement Costs Per Unit

Single Family - 40'	293	1	293	29.88%	$	12,130,439	$	41,401	
Single Family - 50'		550		1.25		687.5		70.12%	 $	28,463,061 	$	51,751	
		843				981		100.00%	 $	40,593,501 		

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Land Use	No. of Units *
Total Improvements Costs Per Product Type
Allocation of Par Debt Per Product
Type	Par Per Unit

Single Family - 40'	293
$	12,130,439	$
14,242,101	$
48,608
Single Family - 50'		550	$	28,463,061	$	33,417,899	$	60,760 
	843	$	40,593,501	$	47,660,000	
* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Land Use	

No. of Units *	
Allocation of Par Debt Per Product Type	
Total Par Debt Per Unit	
Maximum Annual Debt Service	Net Annual Debt Assessment Per Unit	Gross Annual Debt Assessment Per Unit (1)						
Single Family - 40'	293	$	14,242,101	$	48,608	$	879,457	$	3,002	$	3,227	
Single Family - 50'		550	$	33,417,899 	$	60,760  $	2,063,572  $	3,752	$	4,034								
		843	$	47,660,000 	 $	2,943,029 										

(1) This amount includes estimated collection fees and early payment discounts when collected on the Polk County Tax Bill

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

TABLE 7
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT PRELIMINARY ASSESSMENT ROLL
AMENDED & RESTATED MASTER ASSESSMENT METHODOLOGY						
						
		Total Par Debt
Allocation Per	
Total Par Debt	Net Annual Debt
Assessment	Gross Annual
Debt Assessment	
Owner	Property ID #'s*	Acres	Acre	Allocated	Allocation	Allocation (1)	
Atlantic Blue Capital LLC	272809000000023010	30.79	$	225,759	$	6,951,122	$	429,235	$	461,543	
Floyd Road Investment LLC	272809000000012020	19.49	$	225,759	$	4,400,045	$	271,705	$	292,156	
Scenic Terrace Investment LLC	272809000000012010	19.23	$	225,759	$	4,341,347	$	268,080	$	288,258	
Scenic Terrace Investment LLC	272810000000034020	19.7	$	225,759	$	4,447,454	$	274,633	$	295,304	
Scenic Terrace Investment LLC	272810000000043010	19.36	$	225,759	$	4,370,696	$	269,893	$	290,207	
Scenic Terrace Investment LLC	272810000000041030	8.96	$	225,759	$	2,022,801	$	124,909	$	134,311	
Atlantic Blue Capital LLC	272809000000014030	25.5	$	225,759	$	5,756,857	$	355,489	$	382,246	
Atlantic Blue Capital LLC	272809000000014020	9.24	$	225,759	$	2,086,014	$	128,812	$	138,508	
HMD West LLC	272809000000041050	8.08	$	225,759	$	1,824,133	$	112,641	$	121,120	
HMD West LLC	272809000000041040	1.5	$	225,759	$	338,639	$	20,911	$	22,485	
Atlantic Blue Capital LLC	272809000000011020	9.93	$	225,759	$	2,241,788	$	138,432	$	148,851	
Turner Investments LTD	272809000000041020	18.77	$	225,759	$	4,237,498	$	261,668	$	281,363	
ST DEV PARTNERS LLC	272809000000013020	10.28	$	225,759	$	2,320,803	$	143,311	$	154,098	
ST DEV PARTNERS LLC	272809000000011030	10.28	$	225,759	$	2,320,803	$	143,311	$	154,098	
Totals	211.11		$	47,660,000	$	2,943,029	$	3,164,547	

Annual Assessment Periods	30	
Projected Bond Rate (%)	6.00%	
Maximum Annual Debt Service	$2,943,029	
(1) This amount includes estimated collection fees and early payment discounts when collected on the Polk County Tax Bill Prepared by: Governmental Management Services - Central Florida, LLC
SCENIC TERRACE SOUTH CDD			
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR A			
DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF BEGINNING;			
THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS RECORDED IN MAP BOOK 2,			
PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH 89°17'17" EAST, 1240.44 FEET; NORTH			
89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17,			
AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF			
641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF			
THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE			
SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE			
44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST			
1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF			
THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF			
HUGHES ROAD, RECORDED IN MAP BOOK 9, PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT			
OF WAY LINE FOR A DISTANCE OF 400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE			
SOUTHWEST 1/4 OF SAID SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH			
RIGHT OF WAY LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET			
OF THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A DISTANCE OF			
400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF THE NORTHEAST 1/4			
OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE SOUTHEAST CORNER OF THE			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST ALONG THE SOUTH LINE OF SAID			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID			
DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF 645.08 FEET TO A POINT ON THE SOUTH			
RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH			
89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST, 100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44"			
WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST, 300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST,			
109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST			
ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN			
NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST			
RIGHT OF WAY LINE OF STATE ROAD 17 AS SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN			
SOUTH 00°33'34" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF			
THE SOUTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON			
THE EAST LINE OF THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH			
03°05'06" WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST, 49.40			
FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00 FEET; SOUTH			
89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF			
1314.71 FEET TO THE POINT OF BEGINNING.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY,			
FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH BOUNDARY THEREOF; THENCE ALONG SAID NORTH			
BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST			
MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET;			
3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF 36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE			
NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING. CONTAINING 9.911 ACRES,			
MORE OR LESS.			
CONTAINING 206.541 ACRES, MORE OR LESS.			
ADDITIONALLY:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9,			
TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST			
1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE			
NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF, S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH			
BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF			
BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (1)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH			
BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST			
RIGHT-OF-WAY OF SCENIC HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION			
RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE			
DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET;			
THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E., A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF			
200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9; THENCE ALONG SAID EAST			
BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325 ACRES, MORE OR LESS.			

LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING			
MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE			
WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY,			
N.89°23'07"E., A DISTANCE OF 36.64 FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17),			
ACCORDING TO THE STATE OF FLORIDA STATE ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY			
MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY			
PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF			
BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE			
OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF 200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF			
152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A DISTANCE OF 196.22 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE S.89°24'09"W., A DISTANCE OF 174.65			
FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO AFORESAID EASTERLY RIGHT			
OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A DISTANCE OF 216.86 FEET			
TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 211.113 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (2)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	

Section D

Section 1
RESOLUTION 2023-12

RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT EXPRESSING ITS INTENT TO UTILIZE THE UNIFORM METHOD OF LEVYING, COLLECTING, AND ENFORCING NON-AD VALOREM ASSESSMENTS WHICH MAY BE LEVIED BY THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT IN ACCORDANCE WITH SECTION 197.3632, FLORIDA STATUTES; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

Whereas, the Scenic Terrace South Community Development District (the “District”) was established pursuant to the provisions of Chapter 190, Florida Statutes, which authorizes the District to levy certain assessments which include benefit and maintenance assessments and further authorizes the District to levy special assessments pursuant to Chapters 170 and 197, Florida Statutes, for the acquisition, maintenance, construction, or reconstruction of assessable improvements authorized by Chapter 190, Florida Statutes; and

Whereas, the above referenced assessments are non-ad valorem in nature and, therefore, may be levied and collected under the provisions of Section 197.3632, Florida Statutes, in which the State of Florida has provided a uniform method for the levying, collecting, and enforcing such non-ad valorem assessments (the “Uniform Method”); and

WHEREAS, the District was originally established by the Town Council of the Town of Lake Hamilton, Florida (“Town”), Ordinance O-21-19, effective October 5, 2021 (“Establishing Ordinance”); and

WHEREAS, the boundaries of the District were subsequently amended by Town Ordinance O-23- 05, effective on May 2, 2023 (“Boundary Amendment Ordinance”), by adding approximately 30.182 additional acres of land within the boundaries of the District (the “Expansion Parcels”); and

Whereas, the Board has previously adopted Resolution No. 2023-07, declaring the intent to use the Uniform Method over the Expansion Parcels for the levy, collection and enforcement of non-ad valorem special assessments authorized by Section 197.3632, Florida Statutes, over certain lands within the District as described therein; and

Whereas, pursuant to Section 197.3632, Florida Statutes, the District has caused notice of a public hearing on the District’s intent to use the Uniform Method to be advertised weekly in a newspaper of general circulation within Polk County for four (4) consecutive weeks prior to such hearing; and

Whereas, the District has held a public hearing pursuant to Section 197.3632, Florida Statutes, where public and landowners were allowed to give testimony regarding the use of the Uniform Method; and

WHEREAS, the District desires to use the Uniform Method for the levy, collection and enforcement of non-ad valorem special assessments authorized by Section 197.3632, Florida Statutes, for special assessments, including benefit and maintenance assessments, over all lands in the District, including specifically the Expansion Parcels as further described in Exhibit A.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1.  The Scenic Terrace South Community Development District upon conducting its public hearing as required by Section 197.3632, Florida Statutes, hereby expresses its need and intent to use the Uniform Method of collecting assessments imposed by the District over the lands described in Exhibit A, as provided in Chapters 170 and 190, Florida Statutes, each of which are non-ad valorem assessments which may be collected annually pursuant to the provisions of Chapter 190, Florida Statutes, for the purpose of paying principal and interest on any and all of its indebtedness and for the purpose of paying the cost of operating and maintaining its assessable improvements. The legal description of the boundaries of the real property subject to a levy of assessments is attached and made a part of this Resolution as Exhibit A. The non-ad valorem assessments and the District’s use of the uniform method of collecting its non-ad valorem assessment(s) may continue in any given year when the Board of Supervisors determines that use of the uniform method for that year is in the best interests of the District.

SECTION 2.  The District’s Secretary is authorized to provide the Property Appraiser and Tax Collector of Polk County and the Department of Revenue of the State of Florida with a copy of this Resolution and enter into any agreements with the Property Appraiser and/or Tax Collector necessary to carry out the provisions of this Resolution.

SECTION 3.  If any provision of this Resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.

SECTION 4.  This Resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed.

Passed and adopted this 19th day of July 2023.

ATTEST:	SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Exhibit A:	Legal Description of Expansion Parcels
EXHIBIT A - Legal Description of Expansion Parcels

THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF 661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE
EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF, S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF BEGINNING.

CONTAINING 20.271 ACRES, MORE OR LESS.

THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF 36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING.

CONTAINING 9.911 ACRES, MORE OR LESS.

Section VI
RESOLUTION 2023-13

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT ADOPTING THE ANNUAL MEETING SCHEDULE FOR FISCAL YEAR 2024; AND PROVIDING FOR AN EFFECTIVE DATE.

Whereas, the Scenic Terrace South Community Development District (the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated within Polk County, Florida; and

Whereas, the District is required by Section 189.015, Florida Statutes, to file quarterly, semi- annually, or annually a schedule (including date, time, and location) of its regular meetings with local governing authorities; and

Whereas, further, in accordance with the above-referenced statute, the District shall also publish quarterly, semi-annually, or annually the District’s regular meeting schedule in a newspaper of general paid circulation in the county in which the District is located; and

WHEREAS, the Board desires to adopt the Fiscal Year 2023/2024 annual meeting schedule attached as Exhibit A.

NOW THEREFORE BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. The Fiscal Year 2023/2024 annual meeting schedule attached hereto and incorporated by reference herein as Exhibit A is hereby approved and shall be published in accordance with the requirements of Florida law and also provided to applicable governing authorities.

SECTION 2.   This Resolution shall become effective immediately upon its adoption.

Passed and adopted this 19th day of July 2023.

ATTEST:	SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Chairperson, Board of Supervisors

Exhibit A:	Fiscal Year 2023/2024 Annual Meeting Schedule
Exhibit A: Fiscal Year 2023/2024 Annual Meeting Schedule

BOARD OF SUPERVISORS MEETING DATES
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024

The Board of Supervisors of the Scenic Terrace South Community Development District will hold their regular meetings for Fiscal Year 2023/2024 at 346 East Central Avenue, Winter Haven, Florida 33880, on the 3rd Wednesday of every month at 1:45 PM unless otherwise indicated as follows:

October 18, 2023
November 15, 2023
December 20, 2023
January 17, 2024
February 21, 2024
March 20, 2024
April 17, 2024
May 15, 2024
June 19, 2024
July 17, 2024
August 21, 2024
September 18, 2024

The meetings are open to the public and will be conducted in accordance with the provision of Florida Law for Community Development Districts. The meetings may be continued to a date, time, and place to be specified on the record at the meeting. A copy of the agenda for these meetings may be obtained from Governmental Management Services - Central Florida, LLC, 219 E. Livingston Street, Orlando, Florida 32801 or by calling (407) 841-5524.

There may be occasions when one or more Supervisors or staff will participate by telephone. Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Office at (407) 841-5524 at least 48 hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) / 1-800-955-8770 (Voice), for aid in contacting the District Office.

A person who decides to appeal any decision made at the meeting with respect to any matter considered at the meeting is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.

District Manager

Section VII
RESOLUTION 2023-14

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT DESIGNATING A DATE, TIME AND LOCATION FOR A LANDOWNERS’ MEETING AND ELECTION; PROVIDING FOR PUBLICATION; ESTABLISHING FORMS FOR THE LANDOWNER ELECTION; AND PROVIDING FOR SEVERABILITY AND AN EFFECTIVE DATE.

WHEREAS, Scenic Terrace South Community Development District (“District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated within Polk County, Florida; and

WHEREAS, pursuant to Section 190.006(1), Florida Statutes, the District’s Board of Supervisors (“Board”) “shall exercise the powers granted to the district pursuant to [Chapter 190, Florida Statutes],” and the Board shall consist of five members; and

WHEREAS, the District is statutorily required to hold a meeting of the landowners of the District for the purpose of electing Board Supervisors for the District on the first Tuesday of the month in November, which shall be noticed pursuant to Section 190.006(2), Florida Statutes.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT:

EXISTING BOARD SUPERVISORS; SEATS SUBJECT TO ELECTIONS.  The
Board is currently made up of the following individuals:

Seat Number	Supervisor	Term Expiration Date	
1	Daniel Arnette	11/2023	
2	Patricia Hudson	11/2023	
3	Lauren Schwenk	11/2025	
4	Chuck Cavaretta	11/2025	
5	Warren K. (Rennie) Heath II	11/2023	

This year, Seat 1, currently held by Daniel Arnette, Seat 2, currently held by Patricia Hudson, and Seat 5, currently held by Rennie Heath, are subject to election by landowners in November 2023. The two candidates receiving the highest number of votes shall be elected for a term of four (4) years. The candidate receiving the next highest number of votes shall be elected for a term of two (2) years. The term of office for each successful candidate shall commence upon election.

LANDOWNER’S ELECTION. In accordance with Section 190.006(2), Florida Statutes, the meeting of the landowners to elect Board Supervisor(s) of the District shall be held on the 7th day of November 2023, at 9:15 AM and located at the Holiday Inn—Winter Haven, 200 Cypress Gardens Blvd., Winter Haven, FL 33880.

PUBLICATION. The District’s Secretary is hereby directed to publish notice of the landowners’ meeting and election in accordance with the requirements of Section 190.006(2), Florida Statutes.

FORMS. Pursuant to Section 190.006(2)(b), Florida Statutes, the landowners’ meeting and election have been announced by the Board at its July 19, 2023 meeting. A sample notice of
landowners’ meeting and election, proxy, ballot form and instructions were presented at such meeting and are attached hereto as Exhibit A. Such documents are available for review and copying during normal business hours at the office of the District Manager, Governmental Management Services – Central Florida LLC, located at 219 East Livingston Street, Orlando, Florida 32801.

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.

EFFECTIVE DATE. This Resolution shall become effective upon its passage.

PASSED AND ADOPTED THIS 19TH DAY OF JULY 2023.

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

ATTEST:	CHAIRPERSON / VICE CHAIRPERSON

SECRETARY / ASST. SECRETARY
EXHIBIT A

NOTICE OF LANDOWNERS’ MEETING AND ELECTION AND MEETING OF THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Notice is hereby given to the public and all landowners within Scenic Terrace South Community Development District (“District”) the location of which is generally described as comprising a parcel or parcels of land containing approximately 211.113 acres, generally located at Scenic Highway (SR17) and Hughes Road in the Town of Lake Hamilton, Florida, advising that a meeting of landowners will be held for the purpose of electing three
(3) people to the District’s Board of Supervisors (“Board”, and individually, “Supervisor”). Immediately following the landowners’ meeting there will be convened a meeting of the Board for the purpose of considering certain matters of the Board to include election of certain District officers, and other such business which may properly come before the Board.

DATE:	November 7, 2023
HOUR:	9:15 AM
LOCATION:	Holiday Inn Winter Haven 200 Cypress Gardens Blvd. Winter Haven, FL 33880

Each landowner may vote in person or by written proxy. Proxy forms may be obtained upon request at the office of the District Manager, Governmental Management Services – Central Florida LLC, 219 East Livingston Street, Orlando, Florida 32801 Ph: (407) 841-5524 (“District Manager’s Office”). At said meeting each landowner or his or her proxy shall be entitled to nominate persons for the position of Supervisor and cast one vote per acre of land, or fractional portion thereof, owned by him or her and located within the District for each person to be elected to the position of Supervisor. A fraction of an acre shall be treated as one acre, entitling the landowner to one vote with respect thereto. Platted lots shall be counted individually and rounded up to the nearest whole acre. The acreage of platted lots shall not be aggregated for determining the number of voting units held by a landowner or a landowner’s proxy. At the landowners’ meeting the landowners shall select a person to serve as the meeting chair and who shall conduct the meeting.

The landowners’ meeting and the Board meeting are open to the public and will be conducted in accordance with the provisions of Florida law. One or both of the meetings may be continued to a date, time, and place to be specified on the record at such meeting. A copy of the agenda for these meetings may be obtained from the District Manager’s Office. There may be an occasion where one or more supervisors will participate by telephone.

Any person requiring special accommodations to participate in these meetings is asked to contact the District Manager’s Office, at least 48 hours before the hearing. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) / 1-800-955-8770 (Voice), for aid in contacting the District Manager’s Office.

A person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that such person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which the appeal is to be based.

District Manager
Run Date(s): 	 & 	

PUBLISH: ONCE A WEEK FOR 2 CONSECUTIVE WEEKS, THE LAST DAY OF PUBLICATION TO BE NOT FEWER THAN 14 DAYS OR MORE THAN 28 DAYS BEFORE THE DATE OF ELECTION, IN A NEWSPAPER WHICH IS IN GENERAL CIRCULATION IN THE AREA OF THE DISTRICT
INSTRUCTIONS RELATING TO LANDOWNERS’ MEETING OF SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT FOR THE ELECTION OF SUPERVISORS

DATE OF LANDOWNERS’ MEETING: Tuesday, November 7, 2023

TIME: 9:15 AM

LOCATION: Holiday Inn—Winter Haven, 200 Cypress Gardens Blvd., Winter Haven, FL 33880

Pursuant to Chapter 190, Florida Statutes, and after a Community Development District (“District”) has been established and the landowners have held their initial election, there shall be a subsequent landowners’ meeting for the purpose of electing members of the Board of Supervisors (“Board”) every two years until the District qualifies to have its board members elected by the qualified electors of the District. The following instructions on how all landowners may participate in the election are intended to comply with Section 190.006(2)(b), Florida Statutes.

A landowner may vote in person at the landowners’ meeting, or the landowner may nominate a proxy holder to vote at the meeting in place of the landowner. Whether in person or by proxy, each landowner shall be entitled to cast one vote per acre of land owned by him or her and located within the District, for each position on the Board that is open for election for the upcoming term. A fraction of an acre shall be treated as one (1) acre, entitling the landowner to one vote with respect thereto. For purposes of determining voting interests, platted lots shall be counted individually and rounded up to the nearest whole acre. Moreover, please note that a particular parcel of real property is entitled to only one vote for each eligible acre of land or fraction thereof; therefore, two or more people who own real property in common, that is one acre or less, are together entitled to only one vote for that real property.

At the landowners’ meeting, the first step is to elect a chair for the meeting, who may be any person present at the meeting. The landowners shall also elect a secretary for the meeting who may be any person present at the meeting. The secretary shall be responsible for the minutes of the meeting. The chair shall conduct the nominations and the voting. If the chair is a landowner or proxy holder of a landowner, he or she may nominate candidates and make second motions. Candidates must be nominated and then shall be elected by a vote of the landowners. Nominees may be elected only to a position on the Board that is open for election for the upcoming term.

This year, three (3) seats on the Board will be up for election by landowners. The two candidates receiving the highest number of votes shall be elected for a term of four (4) years. The candidate receiving the next highest number of votes shall be elected for a term of two (2) years. The term of office for each successful candidate shall commence upon election.

A proxy is available upon request. To be valid, each proxy must be signed by one of the legal owners of the property for which the vote is cast and must contain the typed or printed name of the individual who signed the proxy; the street address, legal description of the property or tax parcel identification number; and the number of authorized votes. If the proxy authorizes more than one vote, each property must be listed and the number of acres of each property must be included. The signature on a proxy does not need to be notarized.
LANDOWNER PROXY

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT POLK COUNTY, FLORIDA
LANDOWNERS’ MEETING – [NOVEMBER 7, 2023]

KNOW ALL MEN BY THESE PRESENTS, that the undersigned, the fee simple owner of the lands described herein, hereby constitutes and appoints 	 (“Proxy Holder”) for and on behalf of the undersigned, to vote as proxy at the meeting of the landowners of the Scenic Terrace South Community Development District to be held at the Holiday Inn—Winter Haven, 200 Cypress Gardens Blvd., Winter Haven, FL 33880, on Tuesday, November 7, 2023, at 9:15 AM and at any adjournments thereof, according to the number of acres of unplatted land and/or platted lots owned by the undersigned landowner that the undersigned would be entitled to vote if then personally present, upon any question, proposition, or resolution or any other matter or thing that may be considered at said meeting including, but not limited to, the election of members of the Board of Supervisors. Said Proxy Holder may vote in accordance with his or her discretion on all matters not known or determined at the time of solicitation of this proxy, which may legally be considered at said meeting.

Any proxy heretofore given by the undersigned for said meeting is hereby revoked. This proxy is to continue in full force and effect from the date hereof until the conclusion of the landowners’ meeting and any adjournment or adjournments thereof, but may be revoked at any time by written notice of such revocation presented at the landowners’ meeting prior to the Proxy Holder’s exercising the voting rights conferred herein.

Printed Name of Legal Owner				
Signature of Legal Owner

Parcel Description		Date

Acreage	

Authorized Votes	

[Insert above the street address of each parcel, the legal description of each parcel, or the tax identification number of each parcel. If more space is needed, identification of parcels owned may be incorporated by reference to an attachment hereto.]

Total Number of Authorized Votes:

NOTES: Pursuant to Section 190.006(2)(b), Florida Statutes (2022), a fraction of an acre is treated as one (1) acre entitling the landowner to one vote with respect thereto. For purposes of determining voting interests, platted lots shall be counted individually and rounded up to the nearest whole acre. Moreover, two (2) or more persons who own real property in common that is one acre or less are together entitled to only one vote for that real property.

If the fee simple landowner is not an individual, and is instead a corporation, limited liability company, limited partnership or other entity, evidence that the individual signing on behalf of the entity has the authority to do so should be attached hereto (e.g., bylaws, corporate resolution, etc.).
OFFICIAL BALLOT
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT POLK COUNTY, FLORIDA
LANDOWNERS’ MEETING - NOVEMBER 7, 2023

For Election (3 Supervisors): The two (2) candidates receiving the highest number of votes will each receive a four (4) year term, and the one (1) candidate receiving the next highest number of votes will receive a two (2) year term, with the term of office for the successful candidates commencing upon election.

The undersigned certifies that he/she/it is the fee simple owner of land, or the proxy holder for the fee simple owner of land, located within the Scenic Terrace South Community Development District and described as follows:

Description	Acreage

[Insert above the street address of each parcel, the legal description of each parcel, or the tax identification number of each parcel.] [If more space is needed, identification of parcels owned may be incorporated by reference to an attachment hereto.]

or

Attach Proxy.

I,		,	as	Landowner,	or	as	the	proxy	holder	of
	 (Landowner) pursuant to the Landowner’s Proxy attached hereto, do cast my votes as follows:

SEAT #	NAME OF CANDIDATE	NUMBER OF VOTES	
2			
3			
5			

Date: 		Signed: 	
Printed Name: 	

Section VIII

Arbitrage Rebate Computation Proposal For
Scenic Terrace South Community Development District
(Town of Lake Hamilton, Florida)
$22,350,000 Special Assessment Bonds, Series 2022 (Series 2022 Project)

July 17, 2023

Scenic Terrace South Community Development District c/o Ms. Katie Costa
Director of Accounting Services
Government Management Services – CF, LLC 6200 Lee Vista Boulevard
Suite 300
Orlando, FL 32822

Re:	Scenic Terrace South Community Development District (Town of Lake Hamilton, Florida),
$22,350,000 Special Assessment Bonds, Series 2022 (Series 2022 Project)

Dear Ms. Costa:

AMTEC is an independent consulting firm that specializes in arbitrage rebate calculations. We have the ability to complete rebate computations for the above-referenced Scenic Terrace South Community Development District (the “District”) Series 2022 and Series 2023 bond issues (the “Bonds”). We do not sell investments or seek an underwriting role. As a result of our specialization, we offer very competitive pricing for rebate computations. Our typical fee averages less than $1,000 per year, per issue and includes up to five years of annual rebate liability reporting.

Firm History
AMTEC was incorporated in 1990 and maintains a prominent client base of colleges and universities, school districts, hospitals, cities, state agencies and small-town bond issuers throughout the United States. We currently compute rebate for more than 7,300 bond issues and have delivered thousands of rebate reports. The IRS has never challenged our findings.

Southeast Client Base
We provide arbitrage rebate services to over 350 bond issues aggregating more than $9.1 billion of tax- exempt debt in the southeastern United States. We have recently performed computations for the Magnolia West, East Park, Palm Coast Park, Windward and Town Center at Palm Coast Park Community Development Districts. Additionally, we are exclusive rebate consultant to Broward County and the Town of Palm Beach in Florida. Nationally, we are rebate consultants for the City of Tulsa (OK), the City of Lubbock (TX) and the States of Connecticut, Montana, Mississippi, West Virginia, Vermont and Alaska.

We have prepared a Proposal for the computation of arbitrage for the District’s Bonds. We have established a "bond year end" of April 6th, based upon the anniversary of the closing date in April 2022.
Proposal

We are proposing rebate computation services based on the following:

$22,350,000 Special Assessment Bonds, Series 2022 (Series 2022 Project)
Fixed Rate Debt
Acquisition & Construction, Debt Service Reserve, Cost of Issuance & Debt Service Accounts

Should the Tax Agreement require rebate computations for any other accounts, computations will be extended to include those accounts at no additional cost to the District.

Our guaranteed fee for rebate computations for the Bonds is $450 per year and will encompass all activity from the dates of the closings through the initial Computation Date. The fee is based upon the size as well as the complexity. Our fees are payable upon your acceptance of our rebate reports, which will be delivered shortly after the report dates specified in the following tables.

AMTEC Professional Fee: $22,350,000 Special Assessment Bonds, Series 2022 (Series 2022 Project)

Report Date	Type of Report	Period Covered	Fee	
July 31, 2023	Rebate and Opinion	Closing – March 31, 2023	$ 450	
March 31, 2024	Rebate and Opinion	Closing – March 31, 2024	$ 450	
March 31, 2025	Rebate and Opinion	Closing – March 31, 2025	$ 450	
March 31, 2026	Rebate and Opinion	Closing – March 31, 2026	$ 450	
April 6, 2027	Rebate and Opinion	Closing – April 6, 2027	$ 450	

In order to begin, we are requesting copies of the following documentation:

Arbitrage Certificate or Tax Regulatory Agreement
IRS Form 8038-G
Closing Memorandum
US Bank statements for all accounts from each closing date through each report date

AMTEC's Scope of Services

Our standard engagement includes the following services:
Review of all bond documents and account statements for possible rebate exceptions;
Computation of the rebate liability and/or the yield restricted amount, in accordance with Section 148 of the Internal Revenue Code, commencing with the date of the closing through required reporting date of the Bonds;
Independent calculation of the yield on the Bonds to ensure the correct basis for any rebate liability. This effort provides the basis for our unqualified opinion;
Reconciliation of the sources and uses of funds from the bond documentation;
Calculation and analysis of the yield on all investments, subject to the Regulations, for each computation period;
Production of rebate reports, indicating the above stated information, and the issuance of the AMTEC Opinion;
Recommendations for proactive rebate management;
Commingled funds, transferred proceeds and yield restriction analyses, if necessary;
Preparation of IRS Form 8038-T and any accompanying documentation, should a rebate payment be required;
We will discuss the results of our Reports with you, your auditors, and our continued support in the event of an IRS inquiry; and
We guarantee the completeness and accuracy of our work.

The District agrees to furnish AMTEC with the required documentation necessary to fulfill its obligation under the scope of services. The District will make available staff knowledgeable about the bond transactions, investments and disbursements of bond proceeds.

The District agrees to pay AMTEC its fee after it has been satisfied that the scope of services, as outlined under the Proposal, has been fulfilled. AMTEC agrees that its fee is all-inclusive and that it will not charge the District for any expenses connected with this engagement.

The parties have executed this Agreement on 	, 2023.

Scenic Terrace South
Community Development District
Consultant: American Municipal Tax-Exempt Compliance Corporation
 	
By:	By:	Michael J. Scarfo
Senior Vice President

Section IX
This instrument was prepared by and upon recording should be returned to:

Lauren M. Gentry, Esq. Kilinski Van Wyk, PLLC PO Box 6386
Tallahassee, Florida 32314
(This space reserved for Clerk)

NON-EXCLUSIVE PERPETUAL EASEMENT AGREEMENT
This PERPETUAL EASEMENT AGREEMENT (“Agreement”) is made and entered into this 	
day of 	, 2023, by and between:
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-
purpose government established pursuant to Chapter 190, Florida Statutes (“Grantor”), located within the Town of Lake Hamilton, Polk County, Florida, whose address for notice purposes is c/o Governmental Management Services - Central Florida, LLC, 219 E. Livingston Street, Orlando, Florida 32801 ; and

TOWN OF LAKE HAMILTON, FLORIDA, a municipal corporation of the state of Florida, with an address for notice purposes of	(“Grantee”). 1

WITNESS:

WHEREAS, the District was established pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (“Act”), and is validly existing under the Constitution and laws of the State of Florida; and

WHEREAS, the District owns and maintains certain rights of way (together, “Rights of Way”), within the boundaries of the District; and

WHEREAS, Grantee is a municipal corporation having jurisdiction for purposes of public safety and other emergency services, including but not limited to provision of law enforcement, fire protection, emergency medical services, and other authorities of law (together, the “Emergency Services”), over the property owned by the District; and

WHEREAS, the District desires to grant the Grantee a perpetual, nonexclusive easement over the Rights of Way and all District-owned property for the purpose of providing Emergency Services.

NOW, THEREFORE, for good and valuable consideration and the mutual covenants of the parties, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

1 Wherever used herein, the terms “Grantor” and “Grantee” include all of the parties to this instrument, the heirs, legal representatives and assigns of individuals, and the successors and assigns of trustees, partnerships, limited liability companies, governmental entities, and corporations.
Recitations. The foregoing recitations are true and correct and are incorporated herein by this reference.

Grant of Easement. Grantor grants to Grantee, its successors, and assigns a non-exclusive, perpetual easement over, upon, under, through, and across the Rights of Way identified as: Tracts S-1 and S-2 as identified on the Plat titled “Scenic Terrace South Phase 2” and recorded at Book 197, Page
33, et seq. of the Official Records of Polk County, Florida (“Easement Area”) for purposes of ingress and egress, and for the provision of Emergency Services upon the lands within the District. The District intends that this Easement shall be as broad as necessary to facilitate the provision of Emergency Services within the boundaries of the District and that Grantee shall have all rights necessary for said provision of Emergency Services. To the extent any other rights of way are in the future dedicated to the District, said Easement Area shall be automatically deemed to include such additional rights of way. Notwithstanding the foregoing grant by Grantor to Grantee, the parties agree that Grantee shall not in any manner restrict Grantor’s reasonable use of the Easement Area that is not inconsistent with this paragraph’s requirements.
Duration. This Easement shall be perpetual in duration.
Binding Effect. This Easement shall be binding upon the parties hereto and their respective heirs, personal representatives, transferees, successors and assigns as a covenant running with and binding upon the Easement Area.

Modification. This Easement may not be modified, amended or terminated without a written instrument, in recordable form, executed by Grantor and Grantee.

Attorney’s Fees. In connection with any litigation arising out of this Easement (whether legal, equitable or declaratory in nature), the prevailing party shall be entitled to recover all fees and costs incurred in connection therewith, including reasonable attorneys' fees.

Entire Agreement. This Easement constitutes the entire agreement between the parties, there being no oral and/or implied agreements not specifically set forth herein.

Governing Law. This Easement shall be construed and determined in accordance with the laws of the State of Florida. Venue with respect to any litigation shall be Polk County, Florida.

Captions. The captions and paragraph headings contained in this Easement are for convenience of reference only and in no way define, describe, extend or limit the scope or intent of this Easement, nor the intent of any provisions hereof.

Counterparts. This Easement may be executed in several counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

[Signature on following page]

IN WITNESS WHEREOF, Grantor has caused these presents to be executed on the day and year first above written.

WITNESSES
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

By: 			
Name: 	
Name: 	
Title: Chairperson

By: 	
Name: 	

STATE OF FLORIDA
COUNTY OF 	

The foregoing instrument was sworn and subscribed before me by means of ▢ physical presence or ▢ online notarization this    day of 	, 2023, by 		 as Chairperson of Scenic Terrace South Community Development District, and with authority to execute the foregoing on behalf of the entit(ies) identified above, and who appeared before me this day in person, and who is either personally known to me, or produced 		 as identification.

(NOTARY SEAL)
NOTARY PUBLIC, STATE OF 	

Name:	 (Name of Notary Public, Printed, Stamped or Typed as Commissioned)

Note to Examiner: This instrument evidences a conveyance of an interest in unencumbered real estate as a gift and is exempt from Florida documentary stamp tax pursuant to Rule 12B-4.014(2)(a), Florida Administrative Code.

Section X

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

FINANCIAL STATEMENTS

September 30, 2022

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
FINANCIAL STATEMENTS
September 30, 2022

CONTENTS
PAGE
Independent Auditors’ Report	1-3
Management’s Discussion and Analysis	4-8
Government-wide Financial Statements:
Statement of Net Position	9
Statement of Activities	10
Fund Financial Statements:
Balance Sheet – Governmental Funds	11
Reconciliation of Total Governmental Fund Balances
to Net Position of Governmental Activities	12
Statement of Revenues, Expenditures and Changes in
Fund Balances – Governmental Funds	13
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds
to the Statement of Activities	14
Notes to the Financial Statements	15-24
Required Supplementary Information
Statement of Revenues and Expenditures – Budget and Actual – General Fund	25
Notes to Required Supplementary Information	26
Independent Auditor’s Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements
Performed in Accordance with Government Auditing Standards	27-28
Independent Auditor’s Report on Compliance with the Requirements of Section 218.415, Florida Statutes, Required by Rule 10.556 (10) of the Auditor General
of the State of Florida	29
Auditor’s Management Letter Required by Chapter 10.550, Florida Statutes	30-32
DIBARTOLOMEO, MCBEE, HARTLEY & BARNES, P.A.
CERTIFIED PUBLIC ACCOUNTANTS
INDEPENDENT AUDITORS’ REPORT

To the Board of Supervisors
Scenic Terrace South Community Development District
Town of Lake Hamilton, Florida

Opinions
We have audited the accompanying financial statements of the governmental activities and each major fund of Scenic Terrace South Community Development District, Town of Lake Hamilton, Florida (“District”) as of and for the year ended September 30, 2022, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District as of September 30, 2022, and the respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions.

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Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted auditing standards, we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis and budgetary comparison information be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information
because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated June 23, 2023, on our consideration of the Scenic Terrace South Community Development District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, rules, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.
Report on Other Legal and Regulatory Requirements
We have also issued our report dated June 23, 2023 on our consideration of the District’s compliance with requirements of Section 218.415, Florida Statutes, as required by Rule 10.556(10) of the Auditor General of the State of Florida. The purpose of that report is to provide an opinion based on our examination conducted in accordance with attestation Standards established by the American Institute of Certified Public Accountants.

DiBartolomeo, McBee, Hartley & Barnes, P.A. Fort Pierce, Florida
June 23, 2023
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSIS
September 30, 2022

Our discussion and analysis of Scenic Terrace South Community Development District, Town of Lake Hamilton, Florida (“District”) financial performance provides an overview of the District's financial activities for the fiscal year ended September 30, 2022. Please read it in conjunction with the District's Independent Auditor's Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements.

FINANCIAL HIGHLIGHTS

The assets of the District exceeded its liabilities at the close of the most recent fiscal year resulting in a net position balance of ($1,052,287).

The change in the District's total net position in comparison with the prior fiscal year was ($1,052,287), a decrease. The key components of the District's net position and change in net position are reflected in the table in the government-wide financial analysis section.

At September 30, 2022, the District's governmental funds reported combined ending fund balances of $10,910,422. A portion of fund balance is restricted for debt service and future capital repairs and replacement, nonspendable deposits, and the remainder is unassigned fund balance which is available for spending at the District’s discretion.

OVERVIEW OF FINANCIAL STATEMENTS

This discussion and analysis is intended to serve as the introduction to the District's financial statements. The District's basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.

Government-Wide Financial Statements

The government-wide financial statements are designed to provide readers with a broad overview of the District's finances, in a manner similar to a private-sector business.

The statement of net position presents information on all the District's assets and liabilities, with the difference between the two reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.

The statement of activities presents information showing how the government's net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSIS
September 30, 2022

The government-wide financial statements include all governmental activities that are principally supported by special assessment revenues. The District does not have any business-type activities. The governmental activities of the District include the general government (management) and maintenance and operations.

Fund Financial Statements

A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District has one fund category: governmental funds.

Governmental Funds

Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a District's near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government- wide financial statements. By doing so, readers may better understand the long-term impact of the District's near-term financing decisions.

Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balance provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The District maintains three individual governmental funds for external reporting. Information is presented in the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances for the general fund, debt service fund and capital projects fund. All funds are major funds. The District adopts an annual appropriated budget for its general fund. A budgetary comparison schedule has been provided for the general fund to demonstrate compliance with the budget.

Notes to the Financial Statements

The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSIS
September 30, 2022

GOVERNMENT WIDE FINANCIAL ANALYSIS
As noted earlier, net position may serve over time as a useful indicator of an entity's financial position. In the case of the District, assets exceeded liabilities at the close of the most recent fiscal year. A portion of the District's net position reflects its investment in capital assets (e.g. land, land improvements and infrastructure). These assets are used to provide services to residents; consequently, these assets are not available for future spending. The remaining balance of unrestricted net position may be used to meet the District's other obligations.
Key components of net position were as follows:
Statement of Net Position

Current assets	$ 13,975,671	
Capital assets		10,860,621 	
Total assets		24,836,292 	
Current liabilities	3,538,579	
Long-term liabilities		22,350,000 	
Total liabilities		25,888,579 	
Net position
Net invested in capital assets	
(11,754,083)	
Restricted for debt service	1,972,393	
Restricted for capital projects	8,697,916	
Unrestricted		31,487 	
Total net position	 $ (1,052,287)	

The District's net position decreased during the most recent fiscal year. The majority of the change represents the degree to which ongoing cost of operations exceeded program revenues.
Key elements of the District's change in net position are reflected in the following table:
Change in Net Position

Program revenues	$	122,044	
General revenues		58,969 	
Total revenues		181,013 	
Expenses		
General government	90,557	
Interest on long-term debt	473,330	
Cost of issuance		669,413 	
Total expenses		1,233,300 	
Change in net position	(1,052,287)	
Net position - beginning of period		-		
Net position - end of year	 $ (1,052,287)	
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSIS
September 30, 2022

As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2022 was $1,233,300, which primarily consisted of cost of issuance, interest on long-term debt and costs associated with constructed and maintaining certain capital improvements. The costs of the District’s activities were funded by developer contributions.

GENERAL BUDGETING HIGHLIGHTS

An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund financial statements. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2022.

The variance between budgeted and actual general fund revenues is not considered significant. The actual general fund expenditures for the current fiscal year were lower than budgeted amounts due primarily to anticipated costs which were not incurred in the current fiscal year.

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets

At September 30, 2022, the District had $10,860,621 invested in construction in process. Construction in process has not completed as of September 30, 2022 and therefore is not depreciated to date. Once projects are complete, items will transfer to depreciable assets. More detailed information about the District’s capital assets is presented in the notes of the financial statements.

Capital Debt

At September 30, 2022, the District had $22,350,000 in Bonds outstanding for its governmental activities. More detailed information about the District’s capital debt is presented in the accompanying notes to the financial statements.

ECONOMIC FACTORS, NEXT YEAR'S BUDGET AND OTHER INFORMATION

For the fiscal year 2023, the District anticipates that the cost of general operations will remain fairly constant. In connection with the District's future infrastructure maintenance and replacement plan, the District Board has included in the budget, an estimate of those anticipated future costs and has assigned a portion of current available resources for that purpose.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
MANAGEMENT'S DISCUSSION AND ANALYSIS
September 30, 2022

CONTACTING THE DISTRICT'S FINANCIAL MANAGEMENT

This financial report is designed to provide our citizens, land owners, customers, investors and creditors with a general overview of the District's finances and to demonstrate the District's accountability for the financial resources it manages and the stewardship of the facilities it maintains. If you have questions about this report or need additional financial information, contact Scenic Terrace South Community Development District's Finance Department at 219 E. Livingston Street, Orlando, Florida 32801.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
STATEMENT OF NET POSITION
September 30, 2022

	GOVERNMENTAL
	ACTIVITIES		
ASSETS		
Cash and cash equivalents	$	6,436	
Due from developer	26,183	
Prepaid items	5,000	
Restricted assets:
Investments	
13,938,052	
Capital assets:
Non-depreciable	
	10,860,621 	
TOTAL ASSETS	$	24,836,292	
LIABILITIES		
Accounts payable and accrued expenses	$	2,800,545	
Accrued interest payable	473,330	
Retainage payable	264,704	
Bonds payable, due in more than one year		22,350,000 	
TOTAL LIABILITIES	25,888,579	
NET POSITION		
Net investment in capital assets	(11,754,083)	
Restricted for:
Debt service	
1,972,393	
Capital projects	8,697,916	
Unrestricted		31,487 	
TOTAL NET POSITION	 $	(1,052,287)	
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
STATEMENT OF ACTIVITIES
Year Ended September 30, 2022

	Program Revenues	
Net (Expense) Revenues and Changes in Net
   Position  

 Functions/Programs	 Governmental activities	
	Expenses		Charges for
	Services		Operating
 Contributions 	Governmental
	Activities		
General government	$	90,557	$	-	$	122,044	$	31,487	
Interest on long-term debt	473,330	-	-	(473,330)	
Cost of issuance		669,413 		-			-			(669,413)	
Total governmental activities	 $	1,233,300 	 $	-		 $	122,044 		(1,111,256)	

General revenues:
Investment earnings		58,969 
Total general revenues		58,969 
Change in net position	(1,052,287)

Net position - October 1, 2021		-	
Net position - September 30, 2022	$ (1,052,287)
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
BALANCE SHEET – GOVERNMENTAL FUNDS
September 30, 2022

ASSETS

	GENERAL	
MAJOR FUNDS DEBT
	SERVICE	

CAPITAL
	PROJECTS	
TOTAL GOVERNMENTAL
	FUNDS	

Cash and cash equivalents	$	6,436	$	-	$	-	$	6,436			
Due from developer	26,183	-	-	26,183			
Prepaid items	5,000	-	-	5,000			
Restricted assets:					
Investments		-			2,445,723 		11,492,329 		13,938,052 	
TOTAL ASSETS	 $	37,619 	 $ 2,445,723 	 $ 11,492,329 	 $	13,975,671 	

LIABILITIES AND FUND BALANCES

LIABILITIES
Accounts payable and accrued expenses	$	6,132	$	-	$  2,794,413	$	2,800,545	
Retainage payable		-			-			264,704 		264,704 	
TOTAL LIABILITIES		6,132 		-			3,059,117 		3,065,249 	

FUND BALANCES
Nonspendable:
Prepaid items	5,000		-		-		5,000	
Restricted for:								
Debt service	-		2,445,723		-		2,445,723	
Capital projects	-		-		8,433,212		8,433,212	
Unassigned		26,487 			-				-				26,487 	
TOTAL FUND BALANCES	31,487		2,445,723		8,433,212		10,910,422	
TOTAL LIABILITIES AND
FUND BALANCES	
 $	37,619 		
 $ 2,445,723 		
 $ 11,492,329 		
 $	13,975,671 	
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
RECONCILIATION OF TOTAL GOVERNMENTAL FUND BALANCES TO NET POSITION OF GOVERNMENTAL ACTIVITIES
September 30, 2022

Total Governmental Fund Balances in the Balance Sheet	$ 10,910,422

Amount reported for governmental activities in the Statement of Net Assets are different because:
Capital asset used in governmental activities are not financial resources and therefore are not reported in the governmental funds:
Governmental capital assets	10,860,621
Certain liabilities are not due and payable in the current period and therefore are not reported in the governmental funds:
Accrued interest payable	(473,330)
Governmental bonds payable		(22,350,000)
Net Position of Governmental Activities	 $ (1,052,287)
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES – GOVERNMENTAL FUNDS
Year Ended September 30, 2022

MAJOR FUNDS

CAPITAL
TOTAL GOVERNMENTAL

REVENUES
  GENERAL   DEBT SERVICE  	PROJECTS	
	FUNDS	
Developer contributions
$  122,044	$
-	$	-	$
122,044
Investment earnings		-	 	8,176  	50,793  	58,969 
TOTAL REVENUES		122,044  	8,176  	50,793  	181,013 
EXPENDITURES
General government	90,557	-	-	90,557		
Capital outlay Debt
Bond issuance costs	-	-	10,860,621

	-	 	-	 	669,413 	10,860,621

	669,413 		
TOTAL EXPENDITURES		90,557  	-	  11,530,034 		11,620,591 		
EXCESS REVENUES OVER (UNDER) EXPENDITURES	
	31,487 	
	8,176    (11,479,241)	
	(11,439,578)	
OTHER SOURCES (USES)				
Issuance of debt		-			2,437,547    19,912,453 		22,350,000 	
TOTAL OTHER SOURCES (USE	-
EXCESS REVENUES OVER	2,437,547	19,912,453	22,350,000	
(UNDER) EXPENDITURES
AND OTHER USES	31,487	
2,445,723	
8,433,212	
10,910,422	
FUND BALANCE
Beginning of year		-	 	-	 	-	 	-	
End of year
 $	31,487 
 $ 2,445,723   $ 8,433,212 
 $	10,910,422 
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
Year Ended September 30, 2022

Net Change in Fund Balances - Total Governmental Funds	$ 10,910,422

Amount reported for governmental activities in the Statement of Activities are different because:
The issuance of long-term debt provides current financial resources to governmental funds. These transactions, however, have no effect on net
assets. This is the amount of long-term debt issued in the current period.	(22,350,000)

Governmental funds report capital outlays as expenditures. However, in the Statement of Activities, the costs of those assets are depreciated over their estimated useful lives:
Capital outlay	10,860,621
Certain items reported in the Statement of Activities do not require the use of current financial resources and therefore are not reported expenditures in the governmental funds:
Change in accrued interest payable	(473,330)

Change in Net Position of Governmental Activities	 $ (1,052,287)
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
NOTES TO FINANCIAL STATEMENTS
September 30, 2022

NOTE A- NATURE OF ORGANIZATION AND REPORTING ENTITY
Scenic Terrace South Community Development District ("District”) was created on October 5, 2021 by the Town Council of Town of Lake Hamilton, Florida Ordinance No. O-21-19 pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes. The Act provides among other things, the power to manage basic services for community development, power to borrow money and issue bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure.
The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of a portion of the infrastructure necessary for community development within the District.
The District is governed by the Board of Supervisors ("Board"), which is composed of five members. The majority of the Board members are affiliated with the Developer or landowner. The Supervisors are elected on an at large basis by the qualified electors of the property owners within the District. The Board of Supervisors of the District exercise all powers granted to the District pursuant to Chapter 190, Florida Statutes.
The Board has the responsibility for:
Assessing and levying assessments.
Approving budgets.
Exercising control over facilities and properties.
Controlling the use of funds generated by the District.
Approving the hiring and firing of key personnel.
Financing Improvements.
The financial statements were prepared in accordance with Governmental Accounting Standards Board ("GASB") Statements. Under the provisions of those standards, the financial reporting entity consists of the primary government, organizations for which the District Board of Supervisors is considered to be financially accountable, and other organizations for which the nature and significance of their relationship with the District are such that, if excluded, the financial statements of the District would be considered incomplete or misleading. There are no entities considered to be component units of the District; therefore, the financial statements include only the operations of the District.
NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Government-Wide and Fund Financial Statements
The basic financial statements include both government-wide and fund financial statements. The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
NOTES TO FINANCIAL STATEMENTS
September 30, 2022

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Government-Wide and Fund Financial Statements (continued)
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment. Operating-type special assessments for maintenance and debt service are treated as charges for services and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Other Items not included among program revenues are reported instead as general revenues.
Measurement Focus, Basis of Accounting and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Assessments are recognized as revenues in the year for which they are levied. Grants and similar items are to be recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.
Governmental fund financial statements are reported using the economic financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period.
Expenditures are recorded when a liability is incurred, as under accrual accounting. Assessments
Assessments are non-ad valorem assessments on benefited lands within the District. Assessments are levied to pay for the operations and maintenance of the District. The fiscal year for which annual assessments are levied begins on October 1 with discounts available for payments through February 28 and become delinquent on April 1. The District's annual assessments for operations are billed and collected by the County Tax Collector. The amounts remitted to the District are net of applicable discounts or fees and include interest on monies held from the day of collection to the day of distribution.
Assessments and interest associated with the current fiscal period are considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. The portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items are considered to be measurable and available only when cash is received by the government.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
NOTES TO FINANCIAL STATEMENTS
September 30, 2022

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Measurement Focus, Basis of Accounting and Financial Statement Presentation (continued)

The District reports the following major governmental funds:

General Fund

The general fund is the general operating fund of the District. It is used to account for all financial resources except those required to be accounted for in another fund.

When both restricted and unrestricted resources are available for use, it is the government's policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed.

Debt Service Fund

The debt service fund is used to account for the accumulation of resources for the annual payment of principal and interest of long-term debt.

Capital Projects Fund

The capital projects fund accounts for the financial resources to be used for the acquisition or construction of major infrastructure with the District.

Assets, Liabilities and Net Position or Equity

Restricted Assets

These assets represent cash and investments set aside pursuant to contractual restrictions. Deposits and Investments
The District's cash and cash equivalents are considered to be cash on hand and demand deposits (interest and non-interest bearing).

The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section 218.415 (17) Florida Statutes. The District may invest any surplus public funds in the following:

The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act;
Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
NOTES TO FINANCIAL STATEMENTS
September 30, 2022

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Assets, Liabilities and Net Position or Equity (continued)
Deposits and Investments (continued)
Interest bearing time deposits or savings accounts in qualified public depositories;
Direct obligations of the U.S. Treasury.
Securities listed in paragraph c and d shall be invested to provide sufficient liquidity to pay obligations as they come due. In addition, surplus funds may be deposited into certificates of deposit which are insured.
The District records all interest revenue related to investment activities in the respective funds and reports investments at fair value.
Inventories and Prepaid Items
Inventories of governmental funds are recorded as expenditures when consumed rather than when purchased.
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements.
Capital Assets
Capital assets, which include property, plant and equipment, and infrastructure assets (e.g., roads, sidewalks and similar items) are reported in the government activities columns in the government- wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 (amount not rounded) and an estimated useful life in excess of one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed.
Capital Assets
In the governmental fund financial statements, amounts incurred for the acquisition of capital assets are reported as fund expenditures. Depreciation expense is not reported in the governmental fund financial statements.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
NOTES TO FINANCIAL STATEMENTS
September 30, 2022

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Assets, Liabilities and Net Position or Equity (continued)

Unearned Revenue/Deferred Revenue

Governmental funds report unearned revenue in connection with resources that have been received, but not yet earned.
Long-Term Obligations
In the government-wide financial statements long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized over the life of the Bonds. Bonds payable are reported net of applicable premiums or discounts. Bond issuance costs are expensed when incurred.
In the fund financial statements, governmental fund types recognize premiums and discounts, as well as issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

Deferred Outflows/Inflows of Resources

The statement of net position reports, as applicable, a separate section for deferred outflows of resources. Deferred outflows of resources represent a consumption of net position that applies to future reporting period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until that time. For example, the District would record deferred outflows of resources related to debit amounts resulting from current and advance refundings resulting in the defeasance of debt (i.e. when there are differences between the reacquisition price and the net carrying amount of the old debt).
The statement of net position reports, as applicable, a separate section for deferred inflows of resources. Deferred inflows of resources represent an acquisition of net position that applies to future reporting period(s) and so will not be recognized as an inflow of resources (revenue) until that time. For example, when an asset is recorded in the governmental fund financial statements, but the revenue is not available, the District reports a deferred inflow of resources until such times as the revenue becomes available.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
NOTES TO FINANCIAL STATEMENTS
September 30, 2022

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Assets, Liabilities and Net Position or Equity (continued)

Deferred Outflows/Inflows of Resources

In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The District has only one item, deferred revenue, which qualifies for reporting in this category.

Fund Equity/Net Position

In the fund financial statements, governmental funds report non spendable and restricted fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Assignments of fund balance represent tentative management plans that are subject to change.

Committed fund balance - Amounts that can be used only for the specific purposes determined by a formal action (resolution) of the Board of Supervisors. Commitments may be changed or lifted only by the Board of Supervisors taking the same formal action (resolution) that imposed the constraint originally. Resources accumulated pursuant to stabilization arrangements sometimes are reported in this category.

Assigned fund balance - Includes spendable fund balance amounts that are intended to be used for specific purposes that are neither considered restricted nor committed. The Board can assign fund balance as it does when appropriating fund balance to cover differences in estimated revenue and appropriations in the subsequent year's appropriated budget. Assignments are generally temporary and normally the same formal action need not be taken to remove the assignment.

The District first uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used.

Net position is the difference between assets and deferred outflows of resources less liabilities and deferred inflows of resources. Net position in the government-wide financial statements are categorized as net investment in capital assets, restricted or unrestricted. Net investment in capital assets represents net position related to infrastructure and property, plant and equipment. Restricted net position represents the assets restricted by the District’s Bond covenants or other contractual restrictions. Unrestricted net position consists of the net position not meeting the definition of either of the other two components.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
NOTES TO FINANCIAL STATEMENTS
September 30, 2022

NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Other Disclosures

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates.

NOTE C - BUDGETARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budget. Annual Budgets are adopted on a basis consistent with generally accepted accounting principles for the general fund. All annual appropriations lapse at fiscal year end.

The District follows these procedures in establishing the budgetary data reflected in the financial statements.

Each year the District Manager submits to the District Board a proposed operating budget for the fiscal year commencing the following October 1.
Public hearings are conducted to obtain public comments.
Prior to October 1, the budget is legally adopted by the District Board.
All budget changes must be approved by the District Board.
The budgets are adopted on a basis consistent with generally accepted accounting principles.
Unused appropriation for annually budgeted funds lapse at the end of the year.

NOTE D – DEPOSITS AND INVESTMENTS
Deposits
The District's cash balances, including certificates of deposit, were entirely covered by federal depository insurance or by a collateral pool pledged to the State Treasurer. Florida Statutes Chapter 280, "Florida Security for Public Deposits Act", requires all qualified depositories to deposit with the Treasurer or another banking institution eligible collateral equal to various percentages of the average daily balance for each month of all public deposits in excess of any applicable deposit insurance held. The percentage of eligible collateral (generally, U.S. Governmental and agency securities, state or local government debt, or corporate bonds) to public deposits is dependent upon the depository's financial history and its compliance with Chapter 280. In the event of a failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
NOTES TO FINANCIAL STATEMENTS
September 30, 2022

NOTE D – DEPOSITS AND INVESTMENTS (CONTINUED)
Investments
The District’s investments were held as follows at September 30, 2022:
		Investment		 Fair Value		 Credit Risk 			Maturities	 Money Market Mutual Funds - First						Weighted average of the
American Treasury Obligation CL Y Total Investments
 $ 13,938,052 
 $ 13,938,052 
S&P AAAm	fund portfolio: 9 days
Custodial credit risk - For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty, the District will not be able to recover the value of the investments or collateral securities that are in the possession of an outside party. The District has no formal policy for custodial risk. The investments listed in the schedule above are not evidenced by securities that exist in physical or book entry form.
Credit risk - For investments, credit risk is generally the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Investment ratings by investment type are included in the preceding summary of investments.
Concentration risk - The District places no limit on the amount the District may invest in any one issuer.
Interest rate risk - The District does not have a formal policy that limits investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates.
Fair Value Measurement - When applicable, the District measures and records its investments using fair value measurement guidelines established in accordance with GASB Statements. The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques.
These guidelines recognize a three-tiered fair value hierarchy, in order of highest priority, as follows:
Level 1: Investments whose values are based on unadjusted quoted prices for identical investments in active markets that the District has the ability to access;
Level 2: Investments whose inputs - other than quoted market prices - are observable either directly or indirectly; and,
Level 3: Investments whose inputs are unobservable.
The fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the entire fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
NOTES TO FINANCIAL STATEMENTS
September 30, 2022

NOTE E - CAPITAL ASSETS
Capital asset activity for the fiscal year ended September 30, 2022 was as follows:

Governmental activities:
Balance
 10/01/2021  	Increases	  Decreases 
Balance
  09/30/2022 
Capital assets, not being depreciated:
Construction in process
Total capital assets, not being
 $	-	
 $ 10,860,621 
 $	-	
 $ 10,860,621 
depreciated		-	 	10,860,621  	-	 	10,860,621 
Governmental activities capital
assets - net
 $	-	
 $ 10,860,621 
 $	-	
 $ 10,860,621 

NOTE F – LONG-TERM LIABILITIES

$21,350,000 Special Assessment Bonds, Series 2022 (Series 2022 Project) - On March 15, 2022, the District issued $21,350,000 in Special Assessment Bonds, Series 2022 (Series 2022 Project). The Bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the property within the District. The Bonds are payable May 2053. The Bonds bear interest ranging from 3.750% to 4.625% payable semi-annually on the first day of each May and November. Principal is due serially each May 1, commencing May 2024.

The Bond Indenture established a debt service reserve requirement as well as other restrictions and requirements relating principally to the use of proceeds and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements. The requirements have been met for the fiscal year ended September 30, 2022.

The following is a summary of activity in the long-term debt of the District for the year ended September 30, 2022:

Balance
Balance
Due Within

Special Assessments Bonds, Series 2022
  10/1/2021	 	Additions	  Deletions     9/30/2022	  One Year 

 $	-	  $ 22,350,000   $	-	  $ 22,350,000   $	-	
 $	-	  $ 22,350,000   $	-	  $ 22,350,000   $	-	
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
NOTES TO FINANCIAL STATEMENTS
September 30, 2022

NOTE F – LONG-TERM LIABILITIES (CONTINUED)

The annual requirements to amortize the principal and interest of bonded debt outstanding as of September 30, 2022 are as follows:

  September 30,			Principal			Interest			Total		
2023	$	-	$  1,069,050	$	1,069,050	
2024	375,000	999,631	1,374,631	
2025	390,000	985,569	1,375,569	
2026	405,000	970,944	1,375,944	
2027	420,000	955,756	1,375,756	
2028-2032	2,375,000	4,512,344	6,887,344	
2033-2037	2,935,000	3,957,963	6,892,963	
2038-2042	3,680,000	3,233,913	6,913,913	
2043-2047	4,615,000	2,314,581	6,929,581	
2048-2052	5,820,000	1,140,988	6,960,988	
2053		1,335,000 		61,742 		1,396,742 		
 $ 22,350,000 	 $ 20,202,481 	 $	42,552,481 		

NOTE G - MANAGEMENT COMPANY

The District has contracted with a management company to perform services which include financial and accounting advisory services. Certain employees of the management company also serve as officers of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, computer and other administrative costs.

NOTE H - RISK MANAGEMENT

The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; natural disasters; and environmental remediation. The District has obtained commercial insurance from independent third parties to mitigate the costs of these risks; coverage may not extend to all situations. Settled claims from these risks have not exceeded commercial insurance coverage over the past three years.

NOTE I – CONCENTRATION

The Districts activity is dependent upon the continued involvement of the Developer, the loss of which could have a material adverse effect on the District operations.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
STATEMENT OF REVENUES AND EXPENDITURES BUDGET AND ACTUAL – GENERAL FUND
Year Ended September 30, 2022

REVENUES

 * BUDGET  	ACTUAL	
VARIANCE WITH FINAL BUDGET
POSITIVE
	(NEGATIVE)	
Developer contributions
 $ 133,610 
 $	122,044 
 $	(11,566)
TOTAL REVENUES	133,610	122,044	(11,566)

EXPENDITURES
Current
General government		133,610 		90,557 		43,053 	
TOTAL EXPENDITURES		133,610 		90,557 		43,053 	
EXCESS OF REVENUES OVER (UNDER) EXPENDITURES	
 $	-		
31,487	
 $	31,487 	
FUND BALANCES				
Beginning of year			-			
End of year		 $	31,487 		

* Original and final budget.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budget for the general fund. The District’s budgeting process is based on estimates of cash receipts and cash expenditures which are approved by the Board. The budget approximates a basis consistent with accounting principles generally accepted in the United States of America (generally accepted accounting principles).

An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund financial statements. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors, Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2022.

The variance between budgeted and actual general fund revenues is not considered significant. The actual general fund expenditures for the current fiscal year were lower than budgeted amounts due primarily to anticipated costs which were not incurred in the current fiscal year.

DIBARTOLOMEO, MCBEE, HARTLEY & BARNES, P.A.
CERTIFIED PUBLIC ACCOUNTANTS

INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

To the Board of Supervisors
Scenic Terrace South Community Development District Town of Lake Hamilton, Florida
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to the financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of Scenic Terrace South Community Development District, as of September 30, 2022 and for the year ended September 30, 2022, which collectively comprise Scenic Terrace South Community Development District’s basic financial statements and have issued our report thereon dated June 23, 2023.

Internal Control Over Financial Reporting
In planning and performing our audit, we considered the District’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control over financial reporting.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.

2222 Colonial Road, Suite 200• Fort Pierce, Florida 34950•772-461-8833 • Fax: 772-461-8872 591 S.E. Port St. Lucie Blvd., •Port St. Lucie, Florida 34984•772-878-1952•Fax: 772-878-1709
Member AICPA	Member AICPA Division for CPA Firms	Member FICPA Private Company Practice Section
WWW.DMHBCPA.NET
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the District’s financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of this Report

This report is intended solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

DiBartolomeo, McBee, Hartley & Barnes, P.A. Fort Pierce, Florida
June 23, 2023

- 28 -

DIBARTOLOMEO, MCBEE, HARTLEY & BARNES, P.A.
CERTIFIED PUBLIC ACCOUNTANTS

INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

To the Board of Supervisors
Scenic Terrace South Community Development District Town of Lake Hamilton, Florida

We have examined the District's compliance with the requirements of Section 218.415, Florida Statutes with regards to the District's investments during the year ended September 30, 2022. Management is responsible for the District's compliance with those requirements. Our responsibility is to express an opinion on the District's compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the District's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the District's compliance with specified requirements.

In our opinion, the District complied, in all material respects, with the aforementioned requirements for the year ended September 30, 2022.

This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, management, and the Board of Supervisors of Scenic Terrace South Community Development District, Town of Lake Hamilton, Florida and is not intended to be and should not be used by anyone other than these specified parties.

DiBartolomeo, McBee Hartley & Barnes, P.A. Fort Pierce, Florida
June 23, 2023

2222 Colonial Road, Suite 200• Fort Pierce, Florida 34950•772-461-8833 • Fax: 772-461-8872 591 S.E. Port St. Lucie Blvd., •Port St. Lucie, Florida 34984•772-878-1952•Fax: 772-878-1709
Member AICPA	Member AICPA Division for CPA Firms	Member FICPA Private Company Practice Section
WWW.DMHBCPA.NET

DIBARTOLOMEO, MCBEE, HARTLEY & BARNES, P.A.
CERTIFIED PUBLIC ACCOUNTANTS

Management Letter

To the Board of Supervisors
Scenic Terrace South Community Development District Town of Lake Hamilton, Florida

Report on the Financial Statements
We have audited the financial statements of the Scenic Terrace South Community Development District (“District”) as of and for the fiscal year ended September 30, 2022, and have issued our report thereon dated June 23, 2023.
Auditors’ Responsibility
We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules of the Auditor General.
Other Reporting Requirements
We have issued our Independent Auditors' Report on Internal Control over Financial Reporting and Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards and Independent Accountants' Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated June 23, 2023, should be considered in conjunction with this management letter.
Prior Audit Findings
Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. Initial year audit, there were no findings in the prior year.
Official Title and Legal Authority
Section 10.554(1)(i)4., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in this management letter, unless disclosed in the notes to the financial statements. The information required is disclosed in the notes to the financial statements.

2222 Colonial Road, Suite 200• Fort Pierce, Florida 34950•772-461-8833 • Fax: 772-461-8872 591 S.E. Port St. Lucie Blvd., •Port St. Lucie, Florida 34984•772-878-1952•Fax: 772-878-1709
Member AICPA	Member AICPA Division for CPA Firms	Member FICPA Private Company Practice Section
WWW.DMHBCPA.NET
Financial Condition and Management
Section 10.554(1)(i)5.a. and 10.556(7), Rules of the Auditor General, require us to apply appropriate procedures and communicate the results of our determination as to whether or not the District has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and to identify the specific condition(s) met. In connection with our audit, we determined that the District did not meet any of the conditions described in Section 218.503(1), Florida Statutes.
Pursuant to Sections 10.554(1)(i)5.b. and 10.556(8), Rules of the Auditor General, we applied financial condition assessment procedures for the District. It is management’s responsibility to monitor the District’s financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.
Section 10.554(1)(i)2., Rules of the Auditor General, requires that we communicate any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations.
Specific Information
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)6, Rules of the Auditor General, the Scenic Terrace South Community Development District reported:
	The total number of district employees compensated in the last pay period of the District’s fiscal year as N/A.
The total number of independent contractors to whom nonemployee compensation was paid in the last month of the district’s fiscal year as 5.
	All compensation earned by or awarded to employees, whether paid or accrued, regardless of contingency as N/A.
	All compensation earned by or awarded to nonemployee independent contractors, whether paid or accrued, regardless of contingency as $11,531,644.
Each construction projects with a total cost of at least $65,000 approved by the District that are scheduled to begin on or after October 1 of the fiscal year being reported, together with the total expenditures for such project as $5,826,968.
The District did not amend its final adopted budget under Section 189.016(6), Florida Statutes.
As required by Section 218.39(3)(c), Florida Statutes, and Section 10.554(1)(i)7, Rules of the Auditor General, the Scenic Terrace South Community Development District reported:
The rate or rates of non-ad valorem special assessments imposed by the District as N/A.
The total amount of special assessments collected by or on behalf of the District as N/A.
The total amount of outstanding bonds issued by the district as $22,350,000.
Additional Matters
Section 10.554(1)(i)3., Rules of the Auditor General, requires us to communicate noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we did not have any such findings.
Purpose of this Letter
Our management letter is intended solely for the information and use of Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, the Board of Supervisors, and applicable management, and is not intended to be and should not be used by anyone other than these specified parties.

DiBartolomeo, McBee, Hartley & Barnes, P.A. Fort Pierce, Florida
June 23, 2023

Section XI

Section A

Section 1

MEMORANDUM

To:	Board of Supervisors From: Kilinski | Van Wyk PLLC Date:	July 7, 2023
Re:	Ethics Training for Special District Supervisors

The purpose of this memorandum is to provide you with information regarding new ethics training requirements applicable to Special District Supervisors. This requirement is the result of changes to Section 112.3142, Florida Statutes, which were passed during the recent legislative session. The new requirements will apply beginning with the 2024 calendar year.
Who is affected?
The new requirement applies to all elected officers of independent special districts as defined in Section 189.012, Florida Statutes, including those elected officers who are appointed to fill a vacancy for an unexpired term of office. This includes Supervisors of Community Development Districts and “Special Act” Districts, among others. It does not apply to non-elected officers of a special district, such as a secretary or treasurer, unless that person is also an elected officer. The training requirement previously applied only to specified constitutional officers, elected municipal officers, and commissioners of community redevelopment agencies.
What is required?
Supervisors will be required to complete four (4) hours of training each calendar year. The training must address, at a minimum, Article II of the State Constitution, the Code of Ethics for Public Officers and Employees, and Florida’s public records and open meetings laws. It may be completed by taking a continuing legal education class or other continuing professional education class, seminar, or presentation, if the required information is covered.
How do I report compliance?
The Commission on Ethics has not announced special procedures for special district supervisors. For other officers subject to the training requirement, compliance is self-reported by marking a check box on the annual financial disclosure form. Supervisors should keep detailed records on the name of each course, length of each course, and date completed in the event that verification is required.
When is the deadline?
This requirement will apply beginning in the 2024 calendar year. Training should be completed as close as possible to the date an officer assumes office. Officers who assume a new office or a new term of office before March 31 must complete the training on or before December 31 of the same year. Officers who assume a new office or a new term of office after March 31 are not required to complete the training until the following calendar year.
Where can I find training materials?
The Florida Commission on Ethics has provided links to approved courses on their Ethics Training web page: https://ethics.state.fl.us/Training/Training.aspx. There are also many courses – both free and for a charge – available online and in-person. Kilinski | Van Wyk will be offering customized training sessions at discounted rate for existing clients. If you have questions about whether a particular course meets the requirements, or if you would like to request a customized training session, please consult your Kilinski | Van Wyk attorney. There is also the ability to include training within your regular Board meeting schedule.

Section B

Section 1

Sent Via Email: jburns @gmscfl.com

June 28, 2023

Ms. Jillian Burns District Manager
Scenic Terrace South Community Development District c/o Governmental Management Services
219 East Livingston Street Orlando, Florida 32801

Subject:	District Engineers Report - 2023
Scenic Terrace South Community Development District Bond Series 2018
Section 9.21 of the Master Trust Indenture

Dear Ms. Burns:

In accordance with Section 9.21 of the Master Trust Indenture for the Scenic Terrace South Community Development District (CDD), we have completed our annual review of the portions of the project within this CDD as constructed to date. We find, based on said inspection and our knowledge of the community, that those portions of the infrastructure are being maintained in reasonable good repair.

We have reviewed the Operation and Maintenance budget for the Fiscal Year 2024 and believe that it is sufficient for the proper operation and maintenance of the Scenic Terrace South CDD.

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

Should you have any questions or require additional information, please contact me at (321) 354-9656. Sincerely,

Reinardo Malavé, P.E. District Engineer
Scenic Terrace South Community Development District

RM:ap
Q:\Scenic Terrace South CDD_50143398\Adm\Reports\Annual Engineer's Report\Scenic Terrace South CDD District Engineers Report 2023_06-28-2023

Page 1 of 1

Section C

Section 1
Scenic Terrace South
Community Development District
Summary of Checks

April 01, 2023 through May 31, 2023

Bank	Date	Check No.'s	Amount	
General Fund				
	4/3/23	99-100	$	1,421.90	
	4/4/23	101-102	$	171,760.54	
	4/14/23	103-108	$	1,308,598.42	
	4/20/23	109	$	375.00	
	4/27/23	110-114	$	1,000.00	
	5/5/23	115	$	5,246.00	
	5/9/23	116-119	$	1,211,478.84	
	5/11/23	120	$	3,812.33	
	5/16/23	121	$	52.67	
	5/22/23	122-125	$	2,422.63	
	5/30/23	126-128	$	210,139.95	
	5/31/23	129	$	365.00	
			$	2,916,673.28	
AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	7/13/23	PAGE	1
*** CHECK DATES 04/01/2023 - 05/31/2023 ***	SCENIC TERRACE SOUTH-GENERAL
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
4/03/23 00013	3/20/23 2254342- 202302 310-51300-31100	*	255.00
ENGINEEER SERVICES-FEB 23
DEWBERRY ENGINEERS INC.	255.00 000099
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/03/23 00002	1/12/23 5424	202212 310-51300-49100	*	1,166.90
BOUNDARY AMENDMENT FR#17
KILINSKI | VAN WYK, PLLC	1,166.90 000100
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/04/23 00017	2/21/23 PO#8	202304 300-20700-10200	*	47,349.00
SER 22 FR#4
MACK INDUSTRIES, INC.	47,349.00 000101
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/04/23 00019 12/25/22 PAYAPP#R 202304 300-20700-10200	*	124,411.54 SER22 FR#3
TUCKER PAVING INC.	124,411.54 000102
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/14/23 00020	2/28/23 021561	202304 300-20700-10200	*	89,849.01
SER22 FR#6
ABSOLUTE ENGINEERING, INC.	89,849.01 000103
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/14/23 00018	3/15/23 128853	202304
SER22 FR#5 3/15/23 128854	202304
SER22 FR#6
JR. DAVIS CONSTRUCTION CO. INC.	1,204,348.44 000104
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/14/23 00013	6/15/22 2133666	202205 310-51300-31100	*	510.00
ENGINEEER SERVICES-MAY 22
1/27/23 2241168- 202301 310-51300-49100	*	275.00
BOUNDARY AMENDMENT #18
DEWBERRY ENGINEERS INC.	785.00 000105
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/14/23 99999	4/14/23 VOID	202304 000-00000-00000	C	.00 VOID CHECK
******INVALID VENDOR NUMBER******	.00 000106
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/14/23 00003	2/01/23 19	202302 310-51300-34000	*	3,062.50
MANAGMENT FEES - FEB 23
2/01/23 19	202302 310-51300-35200	*	100.00
WEBSITE MANAGEMENT-FEB 23
2/01/23 19	202302 310-51300-35100	*	150.00
INFORMATION TECH - FEB 23
2/01/23 19	202302 310-51300-31300	*	416.67
DISSEMINATION SVCS-FEB 23
2/01/23 19	202302 310-51300-51000	*	.48
OFFICE SUPPLIES
STS	SCENIC TERRACE IARAUJO
AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	7/13/23	PAGE	2
*** CHECK DATES 04/01/2023 - 05/31/2023 ***	SCENIC TERRACE SOUTH-GENERAL
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
2/01/23 19	202302 310-51300-42000	*	9.47
POSTAGE
20	202303 310-51300-34000	*	3,062.50
MANAGMENT FEES - MAR 23
20	202303 310-51300-35200	*	100.00
WEBSITE MANAGEMENT-MAR 23
20	202303 310-51300-35100	*	150.00
INFORMATION TECH - MAR 23
20	202303 310-51300-31300	*	416.67
DISSEMINATION SVCS-MAR 23
20	202303 310-51300-51000	*	2.74
OFFICE SUPPLIES
20	202303 310-51300-42000	*	4.80
POSTAGE
4/01/23 21	202304 310-51300-34000	*	3,062.50
MANAGMENT FEES - APR 23
4/01/23 21	202304 310-51300-35200	*	100.00
WEBSITE MANAGEMENT-APR 23
4/01/23 21	202304 310-51300-35100	*	150.00
INFORMATION TECH - APR 23
4/01/23 21	202304 310-51300-31300	*	416.67
DISSEMINATION SVCS-APR 23
4/01/23 21	202304 310-51300-51000	*	.06
OFFICE SUPPLIES
4/01/23 21	202304 310-51300-42000	*	39.22
POSTAGE
GOVERNMENTAL MANAGEMENT SERVICES-	11,244.28 000107
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/14/23 00002	1/12/23 5425	202212 310-51300-49100	*	1,655.69
BOUNDARY AMENDMENT FR#17
2/21/23 5801	202301 310-51300-49100	*	715.50
BOUNDARY AMENDMENT FR#19
KILINSKI | VAN WYK, PLLC	2,371.19 000108
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/20/23 00002	4/11/23 6420	202303 310-51300-31500	*	375.50
GEN.COUNSEL/MTHLY MEETING
KILINSKI | VAN WYK, PLLC	375.50 000109
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/27/23 00016	4/19/23 CC041920 202304 310-51300-11000	*	200.00
SUPERVISOR FEE 04/19/23
CHARLES CAVARETTA	200.00 000110
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/27/23 00014	4/19/23 DA041920 202304 310-51300-11000	*	200.00
SUPERVISOR FEE 04/19/23
DANIEL ARNETTE	200.00 000111
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
STS	SCENIC TERRACE IARAUJO
AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	7/13/23	PAGE	3
*** CHECK DATES 04/01/2023 - 05/31/2023 ***	SCENIC TERRACE SOUTH-GENERAL
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
4/27/23 00005	4/19/23 LS041920 202304 310-51300-11000	*	200.00
SUPERVISOR FEE 04/19/23
LAUREN OAKLEY SCHWENK	200.00 000112
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/27/23 00009	4/19/23 PH041920 202304 310-51300-11000	*	200.00
SUPERVISOR FEE 04/19/23
PATRICIA J HUDSON	200.00 000113
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
4/27/23 00012	4/19/23 RH041920 202304 310-51300-11000	*	200.00
SUPERVISOR FEE 04/19/23
RENNIE HEATH	200.00 000114
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/05/23 00001	4/30/23 00055331 202304 310-51300-48000	*	5,246.00
NOTICE OF PUBLIC HEARING
- - - - - - - - - - - - - - - - - - - -
5/09/23 00020	1/31/23 021523	202305
SER22 FR#7 3/31/23 021600	202305
SER22 FR#7
5,246.00 000115
- - - - - - - -

ABSOLUTE ENGINEERING, INC.	106,687.70 000116
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/09/23 00022	4/14/23 00073847 202305 300-20700-10200	*	60,824.00
SER22 FR#7
DANIELLE FENCE MFG. CO., INC.	60,824.00 000117
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/09/23 00021	4/07/23 FES14866 202305 300-20700-10200	*	42,310.00 SER22 FR#7
FAULKNER ENGINERING SERVICES INC.	42,310.00 000118
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/09/23 00018	4/15/23 128939	202305
SER22 FR#7 4/25/23 128940	202305
SER22 FR#7
JR. DAVIS CONSTRUCTION CO. INC.	1,001,657.14 000119
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/11/23 00003	5/01/23 23	202305 310-51300-34000	*	3,062.50
MANAGMENT FEES - MAY 23 5/01/23 23	202305 310-51300-35200
WEBSITE MANAGEMENT-MAY 23
5/01/23 23	202305 310-51300-35100
INFORMATION TECH - MAY 23 5/01/23 23	202305 310-51300-31300
DISSEMINATION SVCS-MAY 23
5/01/23 23	202305 310-51300-51000
OFFICE SUPPLIES
STS	SCENIC
AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	7/13/23	PAGE	4
*** CHECK DATES 04/01/2023 - 05/31/2023 ***	SCENIC TERRACE SOUTH-GENERAL
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
5/01/23 23	202305 310-51300-42000	*	80.42
POSTAGE
GOVERNMENTAL MANAGEMENT SERVICES-	3,812.33 000120
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/16/23 00023	5/02/23 9101 405 202304 320-53800-43000	*	52.67
2430 HUGHES RD
DUKE ENERGY	52.67 000121
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/22/23 00016	5/17/23 CC051720 202305 310-51300-11000	*	200.00
SUPERVISOR FEE 05/17/23
CHARLES CAVARETTA	200.00 000122
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/22/23 00014	5/17/23 DA051720 202305 310-51300-11000	*	200.00
SUPERVISOR FEE 05/17/23
DANIEL ARNETTE	200.00 000123
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/22/23 00002	5/15/23 6664	202304 310-51300-31500	*	1,822.63
GEN.COUNSEL/MTHLY MEETING
KILINSKI | VAN WYK, PLLC	1,822.63 000124
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/22/23 00009	5/17/23 PH051720 202305 310-51300-11000	*	200.00
SUPERVISOR FEE 05/17/23
PATRICIA J HUDSON	200.00 000125
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/30/23 00020	4/30/23 021627	202305 300-20700-10200	*	3,330.17
SER22 FR#9
4/30/23 021638	202305 300-20700-10200	*	17,389.78
SER22 FR#9
ABSOLUTE ENGINEERING, INC.	20,719.95 000126
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/30/23 00025	4/27/23 3159347	202305 300-20700-10200	*	99,983.00
SER22 FR#8
HUB INTERNATIONAL MIDWEST WEST	99,983.00 000127
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/30/23 00024	5/01/23 11292	202305 300-20700-10200	*	89,437.00
SER22 FR#8
STEWART & ASSOCIATES PROPERTY SVCS	89,437.00 000128
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/31/23 00013	5/24/23 2281713- 202305 310-51300-31100	*	365.00
ENGINEER SERVICES -
DEWBERRY ENGINEERS INC.	365.00 000129
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A	2,916,673.28
TOTAL FOR REGISTER	2,916,673.28 STS	SCENIC TERRACE IARAUJO

Section 2

Scenic Terrace South
Community Development District

Unaudited Financial Reporting
May 31, 2023

Table of Contents

1		Balance Sheet	

2-3	
	General Fund	

4	
	Debt Service Fund Series 2022	

5	
	Capital Projects Fund Series 2022	

6-7	
	Month to Month	

8	
	Long Term Debt Schedule	
Scenic Terrace South
Community Development District Combined Balance Sheet
May 31, 2023

Assets:
Operating Account	
$	
96,130	$	-	$	-	
$	96,130		
Due from Developer Investments:
Series 2022
Reserve	$

$	1,969	$	-	$	243,533

-	$	1,368,497	$	-	$	245,502

$	1,368,497		
Revenue	$	-	$	178,444	$	-	$	178,444		
Interest	$	-	$	2,931	$	-	$	2,931		
Prepayment	$	-	$	1,183,006	$	1,183,006		
Construction	$	-	$	-	$	1,604	$	1,604		
Total Assets	$	98,099	$	2,732,878	$	245,137	$	3,076,114		
Liabilities:
Accounts Payable	
$	
21,524	$	-	$	243,533	
$	265,056		
Retainage Payable	$	-	$	-	$	175,757	$	175,757		
Total Liabilites	$	21,524	$	-	$	419,290	$	440,813		
Fund Balance: Restricted for: Debt Service	

$	

-	$	2,732,878	$	-	

$	2,732,878		
Capital Projects	$	-	$	-	$	(174,153)	$	(174,153)		
Unassigned	$	76,576	$	-	$	-	$	76,576	
Total Fund Balances	$	76,576	$	2,732,878	$	(174,153)	$	2,635,301	
					
Total Liabilities & Fund Balance	$	98,099	$	2,732,878	$	245,137	$	3,076,114	
Scenic Terrace South
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending May 31, 2023

	Adopted	Prorated Budget	Actual						
	Budget	Thru 05/31/23	Thru 05/31/23	Variance					

Revenues:									

Assessments - Lot Closings	
$	
-	
$	
-	
$	
98,192	
$	
98,192	
Developer Contributions	$	417,811	$	13,000	$	13,000	$	-	
Boundary Amendment Contributions	$	-	$	-	$	17,722	$	17,722	
Total Revenues	$	417,811	$	13,000	$	128,914	$	115,914					

Expenditures:									
General & Administrative:									
Supervisor Fees	$	12,000	$	8,000	$	4,400	$	3,600					
Engineering	$	15,000	$	10,000	$	3,864	$	6,136					
Attorney	$	25,000	$	16,667	$	7,590	$	9,077					
Annual Audit	$	5,000	$	-	$	-	$	-					
Assessment Administration	$	5,000	$	-	$	-	$	-					
Arbitrage	$	500	$	-	$	-	$	-					
Dissemination	$	5,000	$	3,333	$	3,333	$	(0)					
Trustee Fees	$	4,041	$	4,041	$	4,041	$	-					
Management Fees	$	36,750	$	24,500	$	24,500	$	-					
Information Technology	$	1,800	$	1,200	$	1,200	$	-					
Website Maintenance	$	1,200	$	800	$	800	$	-					
Postage & Delivery	$	1,000	$	667	$	143	$	524					
Insurance	$	5,000	$	5,000	$	5,000	$	-					
Copies	$	1,000	$	667	$	-	$	667					
Legal Advertising	$	18,500	$	12,333	$	7,037	$	5,296					
Boundary Amendment Expenses	$	-	$	-	$	21,465	$	(21,465)					
Contingency	$	5,300	$	3,533	$	-	$	3,533					
Office Supplies	$	625	$	417	$	12	$	405					
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-					
Total General & Administrative	$	142,891	$	91,332	$	83,560	$	7,773					
Scenic Terrace South
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending May 31, 2023

	Adopted	Prorated Budget	Actual		
	Budget	Thru 05/31/23	Thru 05/31/23	Variance	

Operations & Maintenance					
Field Expenditures
Property Insurance	
$	5,000	
$	-	
$	-	
$	-	
Field Management	$	15,000	$	-	$	-	$	-	
Landscape Maintenance	$	55,000	$	-	$	-	$	-	
Landscape Replacement	$	7,500	$	-	$	-	$	-	
Lake Maintenance	$	15,000	$	-	$	-	$	-	
Streetlights	$	12,000	$	-	$	-	$	-	
Electric	$	5,000	$	3,333	$	265	$	3,068	
Water & Sewer	$	5,000	$	-	$	-	$	-	
Sidewalk & Asphalt Maintenance	$	5,000	$	-	$	-	$	-	
Irrigation Repairs	$	5,000	$	-	$	-	$	-	
General Repairs & Maintenance	$	15,000	$	-	$	-	$	-	
Contingency	$	5,000	$	-	$	-	$	-	
Subtotal Field Expenditures	$	149,500	$	3,333	$	265	$	3,068	

Amenity Expenditures
Amenity - Electric	

$	15,000	

$	-	

$	-	

$	-	
Amenity - Water	$	10,000	$	-	$	-	$	-	
Playground Lease	$	25,000	$	-	$	-	$	-	
Internet	$	3,000	$	-	$	-	$	-	
Pest Control	$	720	$	-	$	-	$	-	
Janitorial Service	$	5,500	$	-	$	-	$	-	
Security Services	$	30,000	$	-	$	-	$	-	
Pool Maintenance	$	16,200	$	-	$	-	$	-	
Amenity Repairs & Maintenance	$	10,000	$	-	$	-	$	-	
Amenity Access Management	$	5,000	$	-	$	-	$	-	
Contingency	$	5,000	$	-	$	-	$	-	
Subtotal Amenity Expenditures	$	125,420	$	-	$	-	$	-	
					
Total Operations & Maintenance	$	274,920	$	3,333	$	265	$	3,068	
					
Total Expenditures	$	417,811	$	94,666	$	83,825	$	10,841	
					
Excess (Deficiency) of Revenues over Expenditures	$	(0)		$	45,089		
					
Fund Balance - Beginning	$	-		$	31,487		
					
Fund Balance - Ending	$	(0)		$	76,576		
Scenic Terrace South
Community Development District Debt Service Fund Series 2022
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending May 31, 2023

	Adopted	Prorated Budget	Actual		
	Budget	Thru 05/31/23	Thru 05/31/23	Variance	

Revenues:					
Assessments	$	499,816	$	122,987	$	122,987	$	-	
Assessments - Prepayments	$	-	$	-	$	1,182,000		
Interest	$	-	$	-	$	48,286	$	48,286	
Total Revenues	$	499,816	$	122,987	$	1,353,273	$	48,286	

Expenditures:					
Series 2022
Interest - 11/1	
$	569,234	
$	569,234	
$	569,234	
$	-	
Interest - 5/1	$	499,816	$	499,816	$	499,816	$	-	
Total Expenditures	$	1,069,050	$	1,069,050	$	1,069,050	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	(569,234)		$	284,223		

Other Financing Sources/(Uses):					
Transfer In/(Out)	$	-	$	-	$	2,931	$	2,931	
Total Other Financing Sources/(Uses)	$	-	$	-	$	2,931	$	2,931	
					
Net Change in Fund Balance	$	(569,234)		$	287,154		
					
Fund Balance - Beginning	$	1,069,883		$	2,445,723		
					
Fund Balance - Ending	$	500,649		$	2,732,878		
Scenic Terrace South
Community Development District Capital Projects Fund Series 2022
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending May 31, 2023

Adopted	Prorated Budget	Actual		
Budget	Thru 05/31/23	Thru 05/31/23	Variance	

Revenues					
Developer Contributions	$	-	$	-	$	3,431,853	$	3,431,853	
Interest	$	-	$	-	$	89,442	$	89,442	
Total Revenues	$	-	$	-	$	3,521,295	$	3,521,295	

Expenditures:					
Capital Outlay - Construction	$	-	$	-	$	12,214,675	$ (12,214,675)	
Total Expenditures	$	-	$	-	$  12,214,675	$ (12,214,675)	
					
Excess (Deficiency) of Revenues over Expenditures	$	-	$	(8,693,380)		

Other Financing Sources/(Uses)					
Transfer In/(Out)	$	-	$	-	$	(2,931)	$	(2,931)	
Total Other Financing Sources (Uses)	$	-	$	-	$	(2,931)	$	(2,931)	
					
Net Change in Fund Balance	$	-	$	(8,696,311)		
					
Fund Balance - Beginning	$	-	$	8,522,158		
					
Fund Balance - Ending	$	-	$	(174,153)		
Scenic Terrace South
Community Development District Month to Month

Revenues:

Assessments - Lot Closings Developer Contributions

$	-	$
$	-	$

-	$	-	$
-	$	-	$

-	$	-	$
-	$	-	$

-	$
13,000  $

98,192  $
-	$

-	$	-	$
-	$	-	$

-	$	-	$
-	$	-	$

-	$	98,192
-	$	13,000
Boundary Amendment Contributions	$	1,864	$	2,310	$	-	$	3,135	$	-	$	3,098	$	716	$	6,601	$	-	$	-	$	-	$	-	$	17,722	
Total Revenues	$	1,864	$	2,310	$	-	$	3,135	$	-	$	16,098	$	98,907	$	6,601	$	-	$	-	$	-	$	-	$	128,914	

Expenditures:										
General & Administrative:										
Supervisor Fees	$	-	$	800	$	1,000	$	-	$	1,000	$	-	$	1,000	$	600	$	-  $	-  $	-  $	-  $	4,400	
Engineer Fees	$	-	$	255	$	145	$	-	$	255	$	-	$	-	$	3,209	$	-  $	-  $	-  $	-  $	3,864	
Attorney Fees	$	209	$	186	$	871	$	570	$	760	$	376	$	1,823	$	2,797	$	-  $	-  $	-  $	-  $	7,590	
Annual Audit	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-	
Assessment Adminstration	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-	
Dissemination	$	417	$	417	$	417	$	417	$	417	$	417	$	417	$	417	$	-  $	-  $	-  $	-  $	3,333	
Arbitrage	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-	
Trustee Fees	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	4,041	$	-  $	-  $	-  $	-  $	4,041	
Management Fees	$	3,063	$	3,063	$	3,063	$	3,063	$	3,063	$	3,063	$	3,063	$	3,063	$	-  $	-  $	-  $	-  $	24,500	
Information Technology	$	150	$	150	$	150	$	150	$	150	$	150	$	150	$	150	$	-  $	-  $	-  $	-  $	1,200	
Website Maintenance	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	-  $	-  $	-  $	-  $	800	
Postage & Delivery	$	1	$	2	$	2	$	4	$	9	$	5	$	39	$	80	$	-  $	-  $	-  $	-  $	143	
Insurance	$	5,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	5,000	
Copies	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-	
Legal Advertising	$	-	$	661	$	1,130	$	-	$	-	$	-	$	5,246	$	-	$	-  $	-  $	-  $	-  $	7,037	
Boundary Amendment Expenses	$	2,675	$	3,262	$	4,143	$	1,888	$	3,227	$	1,031	$	3,018	$	2,224	$	-  $	-  $	-  $	-  $	21,465	
Contingency	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-	
Office Supplies	$	0	$	0	$	3	$	3	$	0	$	3	$	0	$	3	$	-  $	-  $	-  $	-  $	12	
Dues, Licenses & Subscriptions	$	175	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	175	
Total General & Administrative	$	11,789	$	8,895	$	11,023	$	6,193	$	8,980	$	5,143	$	14,855	$	16,683	$	-  $	-  $	-  $	-  $	83,560	
Scenic Terrace South
Community Development District Month to Month

	Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total		
Operations & Maintenance															
Field Expenditures
Property Insurance	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-  $		

-	
Field Management	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Landscape Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Landscape Replacement	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Lake Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Streetlights	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Electric	$	-	$	-	$	-	$	-	$	-	$	-	$	265	$	-	$	-	$	-	$	-	$	-  $		265	
Water & Sewer	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Sidewalk & Asphalt Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Irrigation Repairs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
General Repairs & Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Contingency	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Subtotal Field Expenditures	$	-	$	-	$	-	$	-	$	-	$	-	$	265	$	-	$	-	$	-	$	-	$	-  $		265	

Amenity Expenditures
Amenity - Electric	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-  $		

-	
Amenity - Water	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Playground Lease	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Internet	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Pest Control	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Janitorial Service	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Security Services	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Pool Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Amenity Repairs & Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Amenity Access Management	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Contingency	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Subtotal Amenity Expenditures	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
															
Total Operations & Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	265	$	-	$	-	$	-	$	-	$	-  $		265	

Total Expenditures	$	11,789	$	8,895	$	11,023	$	6,193	$	8,980	$	5,143	$	15,120	$	16,683	$	-	$	-	$	-	$	-	$	83,825	
														
Excess (Deficiency) of Revenues over Expenditures	$	(9,925)	$	(6,585)	$	(11,023)	$	(3,058)	$	(8,980)	$	10,955	$	83,787	$	(10,082)	$	-	$	-	$	-	$	-	$	45,089	
SCENIC TERRACE SOUTH
Community Development District Long Term Debt Report

SERIES 2022, SPECIAL ASSESSMENT REVENUE BONDS		
INTEREST RATE:	3.750%, 4.125%, 4.500%, 4.625z%	
MATURITY DATE:	5/1/2053	
RESERVE FUND DEFINITION	MAXIMUM ANNUAL DEBT SERVICE	
RESERVE FUND REQUIREMENT	$1,368,497	
RESERVE FUND BALANCE	$1,368,497	
BONDS OUTSTANDING - 04/06/22	$22,350,000	
CURRENT BONDS OUTSTANDING	$22,350,000