Lake Lizzie
Community Development District Agenda
December 4, 2024

Agenda

Lake Lizzie
Community Development District
219 E. Livingston Street, Orlando, FL 32801 Phone: 407-841-5524 – Fax: 407-839-1526

November 27, 2024
Board of Supervisors Lake Lizzie Community Development District
Dear Board Members:

The regular meeting of the Board of Supervisors of the Lake Lizzie Community Development District will be held Wednesday, December 4, 2024, at 12:30 PM at the West Osceola Branch Library. 305 Campus St., Celebration. Following is the advance agenda for the regular meeting:

Board of Supervisors Meeting

Roll Call
Public Comment Period
Approval of Minutes of the November 6, 2024, Board of Supervisors Meeting
 Consideration of Resolution 2025-03 Approving Acquisition of Phase 2 Improvements
Consideration of Resolution 2025-04 Ratifying Sale of Series 2024 Bonds
Consideration of Resolution 2025-05 Extending Terms to Match General Election
Consideration of Fiscal Year 2025 Developer Funding Agreement
Consideration of Amended and Restated Disclosure of Public Financing
Presentation of Series 2023 Arbitrage Rebate Report
Staff Reports
Attorney
Engineer
Field Manager
Consideration of Yellowstone Service Proposal Effective January 1st
District Manager’s Report
Approval of Check Register
Balance Sheet & Income Statement
Ratification of Requisitions 1 Series 2024
Other Business
Supervisors Requests
Adjournment

Minutes

MINUTES OF MEETING LAKE LIZZIE
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Lake Lizzie Community Development District was held Wednesday, November 6, 2024 at 12:31 p.m. at the Hart Memorial Library, 211 East Dakin Ave., Kissimmee, Florida.

Present and constituting a quorum:
Tony Iorio	Chairman
Doug Beasley	Vice Chairman
Rocky Owen	Assistant Secretary
Tom Franklin	Assistant Secretary Also present were:
Tricia Adams	District Manager, GMS
Monica Virgen	GMS Staff
Michelle Rigoni	District Counsel, Kutak Rock
Alan Scheerer	Field Manager
Cynthia Wilhelm	Bond Counsel, Nabors Giblin

FIRST ORDER OF BUSINESS	Roll Call
Mr. Iorio called the meeting to order and called the roll. Four Board members were present in person constituting a quorum.

SECOND ORDER OF BUSINESS	Public Comment Period
There were no members of the public present for the meeting and there were no members on the phone line.

THIRD ORDER OF BUSINESS	Approval of Minutes of the October 2, 2024,
Board of Supervisors Meeting

November 6, 2024	Lake Lizzie CDD

Ms. Adams presented the minutes from the October 2, 2024 Board of Supervisors meeting. She noted the draft minutes have been reviewed by staff. She asked the Board for any changes to the minutes. Hearing no comments, she asked for a motion to approve.

On MOTION by Mr. Franklin, seconded by Mr. Owen, with all in favor, the Minutes of the October 2, 2024 Board of Supervisors Meeting, were approved

FOURTH ORDER OF BUSINESS	Consideration of Financing Related Items
Presentation of Final Supplemental Assessment Methodology Report for Series 2024 Bonds
Ms. Adams stated the Board reviewed and approved a preliminarily supplemental assessment methodology and now that the bond has priced, this is the final supplemental assessment methodology based on the actual pricing. For the record, Ms. Adams reviewed the various tables within the report with the Board. She stated attached to the Assessment Methodology is a copy of the assessment roll. Ms. Rigoni asked Ms. Adams if the final assessment methodology reflects that the lands subject to assessment receive special benefit from the District’s assessments to which Ms. Adams stated, yes. Ms. Rigoni asked Ms. Adams if they are a fair and reasonable apportionment of assessments against the lands per the methodology to which Ms. Adams stated, yes.

On MOTION by Mr. Franklin, seconded by Mr. Owen, with all in favor, the Final Supplemental Assessment Methodology, was approved.

Consideration of Resolution 2025-02 Supplemental Assessment Resolution
Ms. Rigoni presented the resolution as follows; she stated the resolution amends and supplements the master levy assessment resolution providing for the specific terms of the Series 2024 bonds. She continued to summarize the various sections within the resolution.

On MOTION by Mr. Franklin, seconded by Mr. Owen, with all in favor, the resolution 2025-02 Supplemental Assessment Resolution, was approved.

November 6, 2024	Lake Lizzie CDD

Consideration of Supplemental Notice of Imposition of Series 2024 Assessments
Ms. Rigoni presented the supplemental notice, she stated that this provides to the public a notice that the Series 2024 Assessments have be levied.

On MOTION by Mr. Franklin, seconded by Mr. Iorio, with all in favor, the Supplemental Notice of Imposition of Series 2024 Assessments, was approved.

FIFTH ORDER OF BUSINESS	Ratification  of  Phase  2  Improvement
Acquisition
Ms. Rigoni presented the acquisition packet in the agenda. She stated at the October Board meeting the Board authorized the acquisition of the Phase 2 improvements that are associated with the bonds to be issued. She continued; the not to exceed acquisition amount was $2.7MM based on the cost of the construction. We have at this time completed the acquisition and have collected all of the executed documents. The completed acquisition packet is included for final review and ratification. There will be three separate motions for this business item. One, a motion to ratify the completed Phase 2 Acquisition. The second motion authorizing the submittal of the Bill of Sale to TOHO for the water utilities that we have acquired. TOHO is the intended owner and operation and maintenance entity for the water utilities within Phase 1 and Phase 2. The third motion from the Board is authorizing the submittal of the Bill of Sale to the City of St. Cloud for Phase 2 roadways. At the last meeting, the District Engineer reminded the Board that the lands within the District have been annexed into the City, while the roadways in Phase 1 were conveyed to the County, the intended party for operation and maintenance of the Phase 2 roadways is the City per the District Engineer and as a result of the annexation of lands within the City boundaries. Ms. Adams asked for a motion to ratify the Phase 2 documents.

On MOTION by Mr. Owen, seconded by Mr. Beasley, with all in favor, the Ratification of Phase 2 Improvement Acquisition documents, were approved.

Authorization for Submittal of Bill of Sale to TOHO for Phase 2 Water Utilities
Ms. Adams asked if there was any discussion on this item and if the Board was ready to take action.

November 6, 2024	Lake Lizzie CDD

On MOTION by Mr. Iorio, seconded by Mr. Franklin, with all in favor, the Authorization for Submittal of Bill of Sale to TOHO for Phase 2 Water Utilities, was approved.

Authorization for Submittal of Bill of Sale to the City of St. Cloud for Phase 2 (Roads and Storm Water System)

On MOTION by Mr. Owen, seconded by Mr. Beasley, with all in favor, the Authorization for Submittal of Bill of Sale to the City of St. Cloud for Phase 2 Roads and Associated Storm Water System, was approved.

Ms. Rigoni clarified for the record that the stormwater system that is going to the City of St. Cloud are the piping and other improvements that are located on and associated with the roadway. The CDD is responsible for the master stormwater infrastructure.

SIXTH ORDER OF BUSINESS	Staff Reports
Attorney
Ms. Rigoni stated the closing for the Series 2024 Bonds is scheduled for Friday, November

8th.

Engineer
Ms. Adams stated the District Engineer is not in attendance so there are no Engineering related items.
Field Manager
Mr. Scheerer stated the pine trees are being checked on a regular basis.
District Manager’s Report
Approval of Check Register
Ms. Adams presented the check register out of the general fund from September 1, 2024,

through September 30, 2024 with a total amount of $16,609.23.

On MOTION by Mr. Franklin, seconded by Mr. Owen with all in favor, the Check Register, was approved.

November 6, 2024	Lake Lizzie CDD

Balance Sheet & Income Statement
Ms. Adams presented the balance sheet through September 30, 2024 that is included in the agenda packet. Ms. Adams stated she will be checking into the Capital Projects fund as to what is leftover as interest has been accumulated. She continued; The adopted budget is shown compared to the actuals. The District was fully collected for the Fiscal Year. Admin and Field are both under budget ending the year in a good financial picture. Mr. Iorio asked Ms. Adams if due to the additional landscaping efforts, would the O&M budget stay the same and reflect different line items? Ms. Adams said there are already line items for mowing; future budgets can be changed to mowing/landscaping.

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

ELEVENTH ORDER OF BUSINESS	Supervisors Requests
There being no comments, the next item followed.

TWELTH ORDER OF BUSINESS	Adjournment
Ms. Adams asked for a motion to adjourn.

On MOTION by Mr. Franklin, seconded by Mr. Owen, with all in favor, the meeting was adjourned.

Secretary/Assistant Secretary	Chairman/Vice Chairman

Section IV

RESOLUTION 2025-03

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE LAKE LIZZIE COMMUNITY DEVELOPMENT DISTRICT ACCEPTING A CERTIFICATE OF DISTRICT ENGINEER; RATIFYING, CONFIRMING AND APPROVING ACQUISITION OF PHASE
2 IMPROVEMENTS AND REQUISITION OF FUNDS, APPROVING UNPAID REQUISITION FOR FUTURE REQUISITION; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Lake Lizzie Community Development District (the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated in Osceola County, Florida; and

Whereas, pursuant to Chapter 190, Florida Statutes, the District is authorized to construct, install, operate and/or maintain systems and facilities for certain basic infrastructure, including, but not limited to, roadways, stormwater management systems, potable and reclaimed water and sewer systems, utilities and other infrastructure, and associated professional fees for permitting, engineering and designing of the improvements necessitated by the development of, and serving lands within, the District; and

WHEREAS, Hanover Tyson, LLC (the “Developer”) is the owner and primary developer of the lands within the boundaries of the District (the “Development”); and

WHEREAS, the District has adopted an improvement plan to finance the planning, design, acquisition, construction, and installation of certain infrastructure improvements, facilities, and services (“Master Project”) as detailed in the Amended and Restated Master Engineer’s Report, dated November 2, 2022, as updated May 31, 2023 (the “Engineer’s Report”); and

WHEREAS, the District previously issued its $2,155,000 Lake Lizzie Community Development District Capital Improvement Revenue Bonds, Series 2024 (2024 Assessment Area) (the “Series 2024 Bonds”) pursuant to that certain Master Trust Indenture (“Master Indenture”), as supplemented by the Second Supplemental Trust Indenture (“Supplemental Indenture,” and together with the Master Indenture, the “Indenture”), both by and between the District and U.S. Bank Trust Company, National Association (“Trustee”), in order to fund a portion of the Master Project (the “2024 Project”) as further described in the Engineer’s Report, and levied special assessments for the repayment of the Series 2024 Bonds (the “Assessments”), as further detailed in that certain Master Assessment Methodology, dated November 2, 2022 (the “Master Assessment Report”), as supplemented by the Second Supplemental Assessment Methodology for the Series 2024 Bonds, dated October 28, 2024 (the “2024 Assessment Report” and together with the Master Assessment Report, the “Assessment Report”); and

WHEREAS, in connection with the issuance of Series 2024 Bonds, the District and Developer entered into various financing agreements, including the Completion Agreement (Series 2024 Bonds – Phase 2) dated November 8, 2024 (“Completion Agreement”); and

WHEREAS, on or about November 6, 2024, the District accepted and acquired certain infrastructure improvements that comprise a portion of the 2024 Project, as further described in the District Engineer’s certificate attached hereto as Exhibit A (“Infrastructure”), for which the costs to construct were advanced by the Developer in a total amount of $2,519,763.00 (“Phase 2 Acquisition Cost”), as further set forth in Exhibit B attached hereto; and

WHEREAS, pursuant to Requisition #  , the District paid $	 in Series 2024 Bond proceeds for the acquired Infrastructure (“Requisition Payment”); and

Whereas, as requested by the Developer, the District desire to recognize the remaining
$	in Phase 2 Acquisition Cost as “Unpaid Requisition”, as such term is defined in Section 403 of the Supplemental Indenture, as further set forth in Exhibit B attached hereto; and

Whereas, pursuant to Section 403 of the Supplemental Indenture, the District further desires to recognize that the Unpaid Requisition is eligible to be paid as future funds, if any, are released and deposited into the Series 2023 Acquisition and Construction Account, including but not limited to as a result of satisfying Reserve Account Release Conditions (as defined in the Supplemental Indenture).

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE LAKE LIZZIE COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. Acceptance of Engineer’s Certificate. The District hereby accepts the District Engineer’s certificate regarding the Infrastructure attached hereto as Exhibit A certifying, inter alia, the Infrastructure as complete, the Infrastructure as within the scope of the 2024 Project, and the total Phase 2 Acquisition Costs of the Infrastructure.

SECTION 2. Ratifying Acquisition of Infrastructure and Requisition of Funds. The District hereby ratifies, confirms and approves the acquisition of Infrastructure at the Phase 2 Acquisition Cost amount and requisition of Series 2024 Bond funds in the Requisition Payment amount to acquire such Infrastructure.

SECTION 3.  Approving Unpaid Requisition; Authorizing Future Requisition. Pursuant to Section 403 of the Supplemental Indenture, the District acknowledges and approves
$	as the Unpaid Requisition, as further set forth in Exhibit B, and authorizes and directs the District’s Consulting Engineer and Responsible Officer, as such terms are defined in the Supplemental Indenture, to submit a requisition to pay for the Unpaid Requisition as future funds are released and deposited in the Series 2024 Acquisition and Construction Account.

SECTION 4.  Severability. If any provision of this Resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.

SECTION 5.	Effective Date. This Resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed.

PASSED AND ADOPTED this 4th day of December 2024.

ATTEST:	LAKE LIZZIE COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	▢ Chairman ▢ Vice Chairman Board of Supervisors

Exhibit A:	Engineer’s Certificate Regarding Infrastructure
Exhibit B:	Summary Chart of Phase 2 Acquisition Costs

Exhibit A:
Engineer’s Certificates Regarding Costs of Infrastructure

6. With this doi;:ument, I her'@by certl:fy that	is, a,ppropri te at this limo· to  • quire the
lmpr-ovemenrts.

Un er pen-alties of perj ry, I declare that I li\:11v'e r iJ the foreg-01n,g certificate aoo that ;t,e 'f cts
stilted in it i!re tnue.

N,a

Oimi,l El'lgi:neer

STA E OFLORl1DA COUNTI O C,!S:;

Sworn to <or a nned), and :subst bed fore rne by n1eans •Gf □ pilysii;;a,Ipresen!C@ or a on:lllle notarlz.aUon1this day of .4, 11( S'hawn I dJe, P.£., :iin.a thorlzed representa'l!Ne of H1ans.on1 Waite & Asrnciate5, Irie who . p,erson. lily know to me or { I produood 	 as Identification.	,-,

{NOTARY S'EA.lJ,

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Notary P'ublic.,Stateqf,_...,r.,-,a=--­ 
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Exhibit A

Acqulsit[on CD!!t:s:

Improvement	Cantrac:t/
lnvalces	Tlltal Cilll'ltnrt
Costs	Ellpble Castll	Retalnqe	Acqulsllian
Amaunt	
Stormwater,  Pata ble Water, Reda lmed Water, and Sanitary Sewer, R.o<Miwa','
impro'lferne11ts	Swell Constnicblon Group	$2,519	,,753_00	$2,S.19,763.00	so	$2,519	',763_00	
						
	Total:	$2,519)'5l.OO	$2,S.li.9,763-°0	$0	$2,S.19,763-°0	

Dm.crlptl:an of lmpwa,Vl!ments to be Acqulred:

Phase 2 Sto.rm,water: All stormwate.r management facfJ ties together wJth master dral'.nage pipes, 11d1.1d[n.g but not 11111lted to su1.1ct11r , Inleis. manholes, mitered e.nd sectloms, he.ad'wal water oontrol struct1.1r c.atch-b.as ms a11d i"!!!l.ated storm·watie.r faollltles pr®,ld[.11g dralna e for streets and rf8il"lt--0f-wa-vs,,Jn aoo for the development frln ty
!>lace Phase 2:AND

!Phase 2 Water\JtllltlH: All water and wastewater fadlLtles from the pollllts of dellillery or co11nectl,on, 111d1.1d llll the
,potabl:ewater system, flre protectl.011l[1mes arnJhydra.111ts, wastewate,r manhol'.es, sewe,r llnes, p1.1btlcly owned reel.aIm water mains a.nd ll.11es, pu'bl ly o-wned p es, a11d related equlpme11t all located lrl the folkiw mg legal descrlptlo111:

A!LlSTRE£1.S· 5' DRAINAGE AND UTIIJTYEASEMfNT(!D U.E.) AlOMG SIDE OF LOfS; !1.0' O.IJ.E.'S LOCATED
,UONGHIOMT Of: L01i'S, 17' llRAtl'JA.GE EASEMENTILOU.Tl:D 8Ef\\ri8EIN LOTS 2§;3 A'ND 254, 20' :OA:Att\lA.GE
EASEMENT lOCA'!1EIO fll:.TWEEN 1515 AND 196 20' OFIA/l•NA.GE EASEMEINT :LOCATED ON ILOf H", .ALL AS SHOW" 0 Tl-IE:P r mOWN AS TA!IMITT' PLACE PHASE 2, RE'COR:OE:D IN THE OF'FICIAL RfCORM OF
OSCEOLA.COUNT\", FL.OR.ID.a.AT PL.Al' 800K 35,PAGES,15 HROUGH lfi, I CI.USIV Al.SO IN:CllJDIN.G
Phase .2 Roadway· t.mprovemertts'. Road)way Jm;pr□Yement:s lru:ludlng paYhng, curb, g111tter. storm piping, an;d
s.ld'.ew.a I rnflstru(ted in and for the del/Ellopment of Trlfllty Place Phase 2, located l11publie rlGht-of-·ways r.:now11as Soplt eann Street, Corne[I 11:oadl,$te-e1ersWay, and Ali Grace orlYe all loc.ated in the fol!Dw Ilg !,egal de crlptlo:r:i:
A!Ll STREIITS AS SHO\i\!"N 0	HE Pl.AT KNOWN AS TRiN,ITY Pl.AO£ PHASE 2, RELOAOrn IN THE.OFF'l□AL fl:ECOR.DSOF OSCEOLA.COU		, FLCli:IDAAT PLA.T BOOie '35, PM'ES- 15 TtlFlOUGH 16, I CI.U.SIVE

Dl'!'.Scrup;til'ln of Work P,rod:u:ct to be Allguired jnote -pr-ewiou ly acquired w,lth Phase 1 ¥9l.liiiticm;
r-e.terat.ed here telc:onfinn 5.lme wor',k 11>rOd:ud's.il?Plitaliirity to IP:l\ase 21:
A11y a11d all s.lte p1ans, c0.11 tructlo111arul de,..elopme11t draw ll.llS, plans .a.11d s,pecililcatl:ons, d.oc.ume.11ts, surveys, e11Glneeri.11g and so[I reports arul studtes, 'lloenses, permits, .:on1n!! appro11als, e11tltle111e1m., permits, dra 111age rlf,hts. 'bOllds. arul S!lml r or eq;ulYalent prilvate .a md gove.m .111:al d□rnments of eYery kllnd and character whatsoever
penalnlng or ap Jl.c.a.ble to □r Jn aBy way con.11ected with the 5i&les 20H Proje(t of the Lake Uzzle i::ommun.lty
Deve.l□pment Dlistr,h:t also koow11as irlnltv Place Pltase 2, !'>lt.e Deitelopment Plla11permit SDP 21-0091!.

Exhibit B:
Summary Chart of Phase 2 Acquisition Costs

Trinity Place – Phase 2 Improvements	Acquisition Cost	
Master Stormwater, Potable Water, Reclaimed Water, Sanitary Sewer,
and Roadway Improvements	$2,519,763.001	
		
Less Required Developer Contribution2	$0	
TOTAL ELIGIBLE
PHASE 2 ACQUISITION COST3	$2,519,763.00	
Less Amount Payable by this Requisition	$1,743,682.95	
Unpaid Requisition4	$776,080.05	

Table 1 Footnotes:
1 Fully paid, with all retainages released.
2 No Developer Contribution requirement.
3 Note, this Requisition represents Acquisition Cost for the Trinity Place – Phase 2 Improvements eligible for payment out of the Series 2024 Acquisition and Construction Account in the total amount of $2,519,763.00, which exceeds the amount available for payment in the Series 2024 Acquisition and Construction Account as of the date of this Requisition.
4 Represents the remaining Acquisition Cost not paid pursuant to this Requisition and eligible to be paid as future funds may be released and deposited in the Series 2024 Acquisition and Construction Account, under Section 403 of the Second Supplemental Trust Indenture, dated as of November 1, 2024, all in accordance therewith.

Section V

RESOLUTION 2025-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE LAKE LIZZIE COMMUNITY DEVELOPMENT DISTRICT RATIFYING, CONFIRMING, AND APPROVING THE SALE OF THE LAKE LIZZIE COMMUNITY DEVELOPMENT DISTRICT CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2024 (2024 ASSESSMENT AREA); RATIFYING, CONFIRMING AND APPROVING THE ACTIONS OF THE CHAIRMAN, VICE CHAIRMAN, TREASURER, SECRETARY, ASSISTANT SECRETARIES, AND ALL DISTRICT STAFF REGARDING THE SALE AND CLOSING OF THE LAKE LIZZIE COMMUNITY DEVELOPMENT DISTRICT CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2024 (2024 ASSESSMENT AREA); AND DETERMINING SUCH ACTIONS AS BEING IN ACCORDANCE WITH THE AUTHORIZATION GRANTED BY THE BOARD; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Lake Lizzie Community Development District (the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated in Osceola County, Florida; and

Whereas, pursuant to Chapter 190, Florida Statutes, the District is authorized to construct, install, operate and/or maintain systems and facilities for certain basic infrastructure and other infrastructure projects and services necessitated by the development of, and serving lands within, the District; and

WHEREAS, the District, on October 28, 2024, executed Bond Purchase Contract, agreeing to the sale of its $2,155,000 Lake Lizzie Community Development District Capital Improvement Revenue Bonds, Series 2024 (2024 Assessment Area) (the “Series 2024 Bonds”), at the terms and conditions provided therein; and

Whereas, the District has previously considered and adopted a number of resolutions relating to the issuance of the Series 2024 Bonds and the imposition of special assessments securing the Series 2024 Bonds, including, but not limited to, Resolution Nos. 2023-26, 2025-01, 2023-24, 2023-25, 2023-30, 2023-34, and 2025-02; and

Whereas, the District, on November 8, 2024, closed on the sale of its Series 2024 Bonds;
and

Whereas, as prerequisites to the issuance of the Series 2024 Bonds, the Chairman, Vice Chairman, Secretary, Treasurer, Assistant Secretaries, and District Staff, including the District Manager, District Assessment Consultant, District Engineer, and District Counsel, were required to execute and deliver various documents including, but not limited to: a Master Trust Indenture; a Second Supplemental Trust Indenture; a Bond Purchase Agreement; a Preliminary Limited Offering Memorandum; a Limited Offering Memorandum; a specimen of the Series 2024 Bonds; a Certificate of the District Engineer; a Certificate of the District Manager and Methodology

Consultant to the District; an Order to Authenticate and Deliver the Series 2024 Bonds; an Amended and Restated Master Engineer’s Report, dated November 2, 2022, as updated May 31, 2023; a Second Supplemental Assessment Methodology for the Series 2024 Bonds, dated October 28, 2024; a Continuing Disclosure Agreement between the District, Hanover Tyson, LLC, a Florida limited liability company (the “Developer”), and a dissemination agent; an Amended and Restated Acquisition Agreement (Master Project) between the District and Developer; a Completion Agreement (Series 2024 Bonds – Phase 2) between the District and Developer; a True-Up Agreement (Series 2024 Assessments) between the District and Developer; a Collateral Assignment and Assumption Agreement (Series 2024 Bonds) between the District and Developer; a Declaration of Consent to Jurisdiction of the District and to Imposition of Debt Special Assessments (Series 2024 Assessments) between the District and Developer; a Declaration of Consent to Jurisdiction of the District and to Imposition of Debt Special Assessments (Series 2024 Assessments) between the District and Trinity Family Builders, LLC; Notice of Special Assessments
/ Government Lien of Record (Series 2024 Assessments); opinion of counsel to the District; and Internal Revenue Service Form 8038-G (collectively, the “Closing Documents”); and

Whereas, the District finds that the sale, closing, and issuance of the Series 2024 Bonds was in the best interests of the District, and the District desires to ratify, confirm, and approve all actions of the District Chairman, Vice Chairman, Secretary, Treasurer, Assistant Secretaries, and District Staff in closing the issuance of the Series 2024 Bonds; and

WHEREAS, the District has incurred certain expenses in finalizing the sale, closing, and issuance of the Series 2024 Bonds, the costs of which are not to exceed those reflected in Exhibit A attached hereto (the “Costs of Issuance”); and

Whereas, the District finds the expenses incurred in finalizing the closing and issuance of the Series 2024 Bonds to be reasonable and in the best interests of the District, and the District desires to ratify payments made in relation to the closing and issuance of the Series 2024 Bonds.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE LAKE LIZZIE COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. The sale, issuance, and closing of the Series 2024 Bonds and the adoption of resolutions relating to the Series 2024 Bonds under the terms and conditions set forth therein serve a public purpose and are in the best interests of the District and are hereby ratified, approved, and confirmed.

SECTION 2. The resolutions levying and imposing the special assessments securing the Series 2024 Bonds remain in full force and effect and are hereby ratified and confirmed in all respects.

SECTION 3. The actions of the Chairman, Vice Chairman, Secretary, Treasurer, Assistant Secretaries, and all District Staff in finalizing the closing and issuance of the Series 2024

Bonds, including the execution and delivery of the Closing Documents, and such other certifications or other documents required for the closing on November 8, 2024, are hereby ratified, approved, and confirmed in all respects. Copies of the Closing Documents are included in the Series 2024 Bond transcript on file at the District Manager’s Office located at 219 East Livingston Street, Orlando, Florida 32801. Said documents are specifically ratified, confirmed, and approved in all respects.

SECTION 4. The Costs of Issuance listed in Exhibit A to this Resolution reflects reasonable, not to exceed costs incurred by the District in finalizing the sale, closing, and issuance of the Series 2024 Bonds necessary for financing the installation and construction of District infrastructure. Pursuant to the Second Supplemental Trust Indenture for the Series 2024 Bonds, any remaining balance in the Series 2024 Costs of Issuance Account will be transferred to the Series 2024 Acquisition and Construction Account on or around 05/08/2025. The costs reflected in Exhibit A are hereby ratified, confirmed, and approved.

SECTION 5.  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 of this Resolution not held to be invalid or unenforceable.

Section 6.	This Resolution shall become effective upon its passage.

Passed and adopted this 4th day of December 2024.

ATTEST:	LAKE LIZZIE COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman, Board of Supervisors

EXHIBIT A

Costs of Issuance:

NOTE: The Trustee is directed to pay the professionals their fees upon receipt of invoices submitted in the amounts referenced above pursuant to the requisition process set forth in the trust indentures relating to the Series 2024 Bonds.

Section VI

RESOLUTION 2025-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE LAKE LIZZIE COMMUNITY DEVELOPMENT DISTRICT EXTENDING THE TERMS OF OFFICE OF ALL CURRENT SUPERVISORS TO COINCIDE WITH THE GENERAL ELECTION PURSUANT TO SECTION 190.006, FLORIDA STATUTES; PROVIDING FOR SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Lake Lizzie Community Development District (“District”) is a local unit of
special purpose government created and existing pursuant to Chapter 190, Florida Statutes; and

WHEREAS, the current members of the Board of Supervisors (“Board”) were elected by
the landowners within the District based on a one acre/one vote basis; and

WHEREAS, Chapter 190, Florida Statutes, authorizes the Board to adopt a resolution extending or reducing the terms of office of Board members to coincide with the general election in November; and

WHEREAS, the Board finds that it is in the best interests of the District to adopt this Resolution extending the terms of office of all current Supervisors of the District.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE LAKE LIZZIE COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. The following terms of office are hereby extended to coincide with the general election to be held in November of 2026:

Seat # 3	(currently held by Jason Lonas) Seat # 4	(currently held by Thomas Franklin) Seat # 5	(currently held by Rocky Owen)

The following terms of office are hereby extended to coincide with the general election to be held in November of 2028:

Seat # 1	(currently held by Anthony Iorio) Seat # 2	(currently held by Douglas Beasley)

SECTION 2. If any provision of this Resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.

SECTION 3. This Resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed.

PASSED AND ADOPTED this 4th day of December 2024.

ATTEST:	LAKE LIZZIE COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Chairperson / Vice Chairperson,
Board of Supervisors

Section VII

BUDGET FUNDING AGREEMENT FISCAL YEAR 2025

This Agreement (“Agreement”) is made and entered into this 4th day of December, 2024, to be effective as of October 1, 2024, by and between:

LAKE LIZZIE Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, (“District”), and is located in Osceola County, Florida (“County”), and

WS-GIR, LLC, a Delaware limited liability company, and the owner and/or developer of property located within the boundaries of the District (“Developer,” and together with the District, the “Parties”). For purposes of this Agreement, the term “Property” shall refer to that certain property within the CDD owned by the Developer on the Effective Date of this Agreement

RECITALS

WHEREAS, pursuant to Chapter 190, Florida Statutes, the District was established for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure, and is authorized to levy such taxes, special assessments, fees, and other charges as may be necessary in furtherance of the District's activities and services; and

WHEREAS, Developer presently owns and/or is developing the Property within the District, which Property will benefit from the timely construction and acquisition of the District's facilities, activities, and services and from the continued operations of the District; and

WHEREAS, for the fiscal year beginning October 1, 2024, and ending September 30, 2025 (“FY 2025”), the Board of Supervisors (“Board”) of the District adopted its general fund budget (“Budget”) attached hereto as Exhibit A and incorporated herein by reference; and

WHEREAS, the Parties recognize the Budget may be amended from time to time in the sole discretion of the District; and

WHEREAS, the District has the option of levying non-ad valorem assessments on all lands within the District benefitting from the activities, operations and services set forth in the Budget, including the Property, or utilizing such other revenue sources as may be available to it; and

WHEREAS, in lieu of levying assessments on the Property, the Developer is willing to provide such funds as are necessary to allow the District to proceed with its operations as described in the Budget; and

WHEREAS, the Developer agrees that the activities, operations and services provide a special and peculiar benefit to the Property equal to or in excess of the costs reflected in the Budget; and

WHEREAS, the Developer agreed to enter into this Agreement in lieu of having the District levy and collect any non-ad valorem assessments as authorized by law against the lands within the District, including the Property, for the activities, operations, and services set forth in the Budget; and

WHEREAS, Developer and District agree such Budget funding obligation by the Developer may be secured and collection enforced pursuant to the methods provided herein.

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

FUNDING. The Developer agrees to make available to the District the monies (“Funding Obligation”) necessary for the operation of the District as called for in the Budget attached hereto as Exhibit A within thirty (30) days of written request by the District. Exhibit A attached hereto may be amended from time to time pursuant to Florida law, subject to the Developer’s consent to such amendments to incorporate them herein; provided however, that amendments adopted by the Board at a duly noticed meeting shall have the effect of amending this Agreement without further action of the Parties. As a point of clarification, the District shall only request as part of the Funding Obligation that the Developer fund the actual expenses of the District, and the Developer is not required to fund the total general fund Budget in the event that actual expenses are less than the projected total general fund Budget, as may be amended as provided herein. The funds shall be placed in the District's general checking account. In the event the Developer sells any of the Property during the term of this Agreement, the Developer’s rights and obligations under this Agreement shall remain the same.

ACKNOWLEDGEMENT. The District hereby finds, and the Developer acknowledges and agrees, that the activities, operations and services set forth in the Budget provide a special and peculiar benefit to the Property, which benefit is initially allocated on an equal developable acreage basis. These payments are made by the Developer in lieu of taxes, fees, or assessments which might otherwise be levied or imposed by the District. Nothing contained herein shall constitute or be construed as a waiver of the District’s right to levy assessments, including on the Property, in the event of a funding deficit.

COLLECTION METHODS. The District may enforce the collection of funds due under this Agreement using one or more of the following collection methods:

Contractual Lien. The District shall have the right to file a continuing lien (“Lien”) upon all or a portion of the Property , which Lien shall be effective as of the date and time of the recording of a “Notice of Lien” in the public records of the County.
Enforcement Action. The District shall have the right to file an action against the Developer in the appropriate judicial forum in and for the County.
Uniform Method; Direct. The District may certify amounts due hereunder as a non- ad valorem assessment on all or any part of the Property for collection, either through the Uniform Method of Collection set forth in Chapter 197, Florida Statutes, or under any method of direct bill and collection authorized by Florida law.

The enforcement of the collection of funds in any of the above manners, including which method(s) to utilize, shall be in the sole discretion of the District Manager on behalf of the District, without the need of further Board action authorizing or directing such

ENTIRE AGREEMENT; AMENDMENTS. This instrument shall constitute the final and complete expression of the agreement among the Parties relating to the subject matter of this Agreement. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by both of the Parties hereto.

AUTHORIZATION. The execution of this Agreement has been duly authorized by the appropriate body or official of all Parties hereto, each Party has complied with all of the requirements of law, and each Party has full power and authority to comply with the terms and provisions of this instrument.

ASSIGNMENT. This Agreement may be assigned, in whole or in part, by either party only upon the written consent of the other. Any purported assignment without such consent shall be void.

DEFAULT. A default by either Party under this Agreement shall entitle the other to all remedies available at law or in equity, which shall include, but not be limited to, the right of damages, injunctive relief and/or specific performance.

ENFORCEMENT. In the event that any party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including interest accrued on an unsatisfied Funding Obligation, reasonable fees and costs incurred by the District incident to the collection of the Funding Obligation or for enforcement of the Lien, or reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

THIRD PARTY BENEFICIARIES. This Agreement is solely for the benefit of the formal Parties herein and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the Parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the Parties hereto and their respective representatives, successors and assigns.

CHOICE OF LAW. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida.

ARM’S LENGTH. This Agreement has been negotiated fully among the Parties as an arm's length transaction. The Parties participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the Parties are each deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any Party.

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Attest:	Lake Lizzie Community
Development District

Secretary / Assistant Secretary	By: 	 Its: 	

Hanover Tyson, LLC
a Florida limited liability company

Witness	By: 	 Its: 	

EXHIBIT A:	FY 2025 Budget

EXHIBIT A

FY 2025 Budget

Lake Lizzie
Community Development District

Adopted Budget
FY2025

6M3

Table of Contents

1

2-4

5

	General Fund

	General Fund Narrative

	Debt Service - Series 2023

6		Amortization Schedule

Lake Lizzie
Community Development District General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2024	6/30/24	3 Months	9/30/24	FY2025	

Revenues						

Assessments - On Roll		
$	143,523	
$	143,835	
$	-	
$	143,835	
$	237,611	
Assessments - Direct		$	59,042	$	59,042	$	-	$	59,042	$	-	
Developer Contributions		$	-	$	8,795	$	-	$	8,795	$	-	
Total Revenues		$	202,566	$	211,673	$	-	$	211,673	$	237,611	

Expenditures							
General & Administrative							
Supervisor Fees		$	12,000	$	2,000	$	2,000	$	4,000	$	12,000	
FICA Expense		$	918	$	153	$	153	$	306	$	918	
Engineering		$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Attorney		$	25,000	$	7,196	$	7,000	$	14,196	$	25,000	
Annual Audit		$	5,000	$	3,800	$	-	$	3,800	$	3,900	
Assessment Administration		$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Arbitrage		$	450	$	-	$	450	$	450	$	900	
Dissemination		$	5,000	$	3,750	$	1,250	$	5,000	$	6,000	
Trustee Fees		$	5,000	$	-	$	4,041	$	4,041	$	8,081	
Management Fees		$	37,500	$	28,125	$	9,375	$	37,500	$	40,000	
Information Technology		$	1,800	$	1,350	$	450	$	1,800	$	1,800	
Website Maintenance		$	1,200	$	900	$	300	$	1,200	$	1,200	
Telephone		$	300	$	-	$	50	$	50	$	300	
Postage & Delivery		$	1,000	$	62	$	38	$	100	$	1,000	
Insurance		$	6,000	$	5,000	$	-	$	5,000	$	6,000	
Printing & Binding		$	1,000	$	27	$	49	$	76	$	1,000	
Legal Advertising		$	15,000	$	733	$	4,267	$	5,000	$	15,000	
Contingency		$	3,938	$	582	$	194	$	776	$	5,000	
Office Supplies		$	625	$	1	$	19	$	20	$	625	
Travel Per Diem		$	660	$	-	$	50	$	50	$	660	
Dues, Licenses & Subscriptions		$	175	$	175	$	-	$	175	$	175	
Total Administrative		$	142,566	$	58,856	$	37,185	$	96,040	$	149,559	

Operation and Maintenance							
Field Expenditures							
Field Management		$	10,000	$	7,500	$	2,500	$	10,000	$	10,500	
Pond Mowing		$	30,000	$	15,452	$	5,151	$	20,602	$	30,000	
Pond Maintenance		$	10,000	$	4,968	$	1,656	$	6,624	$	12,000	
Contingency		$	10,000	$	-	$	2,500	$	2,500	$	35,552	
Total Field Expenditures		$	60,000	$	27,920	$	11,807	$	39,726	$	88,052	
							
Total Expenditures		$	202,566	$	86,775	$	48,991	$	135,766	$	237,611	
							
Excess Revenues/(Expenditures)		$	-	$	124,898	$	(48,991)	$	75,907	$	-	

Product	Total ERU	
Assessable Units	
ERU/Unit	
Net Assessment	
Net Per Unit	
Gross Per Unit	

Single Family 34'	
39	
52	
0.75	
$31,097	
$598.01	
$636.18	
Single Family 50'	259	259	1.00	$206,514	$797.35	$848.25	
Total ERU's	298	311		$237,611			

Lake Lizzie
Community Development District
General Fund Narrative

Revenues:

Assessments

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

Expenditures:

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.

FICA Expenditures

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

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 the Series 2023 Bonds and any additional 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.

Lake Lizzie
Community Development District
General Fund Narrative

Trustee Fees

The District will pay annual trustee fees for Revenue Bonds that are deposited with a Trustee.

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 with Governmental Management Services – Central Florida, LLC 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.

Telephone

Telephone and fax machine.

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.

Printing & Binding

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.

Contingency

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

Lake Lizzie
Community Development District
General Fund Narrative

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.

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

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.

Operations and Maintenance:

Field Expenditures

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.

Pond Mowing

This represents the mowing, and weed control on the turf in Pond tracts.

Pond Maintenance

Represents Pond maintenance for the District.

Contingency

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

Lake Lizzie
Community Development District Debt Service Fund
Series 2023

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2024	6/30/24	3 Months	9/30/24	FY2025	

Revenues						
Assessments	$	-	$	240,547	$	-	$	240,547	$	240,025	
Interest Income	$	-	$	7,216	$	2,405	$	9,622	$	4,811	
Carry Forward Surplus *	$	-	$	60,320	$	-	$	60,320	$	106,527	
Total Revenues	$	-	$	308,084	$	2,405	$	310,489	$	351,362	

Expenses						
Interest- 11/01	$	-	$	58,965	$	-	$	58,965	$	91,978	
Principal - 05/01	$	-	$	50,000	$	-	$	50,000	$	55,000	
Interest - 05/01	$	-	$	93,103	$	-	$	93,103	$	91,978	
Total Expenditures	$	-	$	202,067	$	-	$	202,067	$	238,955	
Other Financing Sources/(Uses)						
Transfer In/(Out)	$	-	$	(1,895)	$	-	$	(1,895)  $	-	
Total Other Financing Sources/(Uses)	$	-	$	(1,895)	$	-	$	(1,895)  $	-	

Excess Revenues/(Expenditures)

$

-

$

104,121	$

2,405	$

106,527	$

112,407

*Carry forward less amount in Reserve funds.

Series 2023
Interest - 11/01/25	$90,740

Net Assessments $	240,025
Add: Discounts & Collection 		$15,321  Gross Assessments 	$255,346 

Product *	Assessable Units	Annual Debt Service	Net Per Unit	Gross Per Unit	
Single Family 34'	52	$61,098.98	$1,174.98	$1,249.98	
Single Family 50'	141	$178,926.02	$1,268.98	$1,349.98	
Total ERU's	193	$240,025			

Lake Lizzie Community Development District Series 2023 Special Assessment Bonds
Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

11/01/24	$	3,485,000.00	$	
05/01/25	$	3,485,000.00	$	55	
11/01/25	$	3,315,000.00	$	
05/01/26	$	3,250,000.00	$	55	
11/01/26	$	3,250,000.00	$	
05/01/27	$	3,250,000.00	$	60	
11/01/27	$	3,250,000.00	$	
05/01/28	$	3,250,000.00	$	65	
11/01/28	$	3,250,000.00	$	
05/01/29	$	3,250,000.00	$	65	
11/01/29	$	3,185,000.00	$	
05/01/30	$	3,185,000.00	$	70	
11/01/30	$	3,115,000.00	$	
05/01/31	$	3,115,000.00	$	70	
11/01/31	$	2,890,000.00	$	
05/01/32	$	2,890,000.00	$	75	
11/01/32	$	2,890,000.00	$	
05/01/33	$	2,890,000.00	$	80	
11/01/33	$	2,890,000.00	$	
05/01/34	$	2,890,000.00	$	85	
11/01/34	$	2,805,000.00	$	
05/01/35	$	2,805,000.00	$	90	
11/01/35	$	2,715,000.00	$	
05/01/36	$	2,715,000.00	$	90	
11/01/36	$	2,625,000.00	$	
05/01/37	$	2,625,000.00	$	95	
11/01/37	$	2,530,000.00	$	
05/01/38	$	2,530,000.00	$	100	
11/01/38	$	2,430,000.00	$	
05/01/39	$	2,430,000.00	$	110	
11/01/39	$	2,320,000.00	$	
05/01/40	$	2,320,000.00	$	115	
11/01/40	$	2,205,000.00	$	
05/01/41	$	2,205,000.00	$	120	
11/01/41	$	1,960,000.00	$	
05/01/42	$	1,825,000.00	$	125	
11/01/42	$	1,825,000.00	$	
05/01/43	$	1,825,000.00	$	135	
11/01/43	$	1,825,000.00	$	
05/01/44	$	1,825,000.00	$	140	
11/01/44	$	1,685,000.00	$	
05/01/45	$	1,685,000.00	$	150	
11/01/45	$	1,535,000.00	$	
05/01/46	$	1,535,000.00	$	160	
11/01/46	$	1,375,000.00	$	
05/01/47	$	1,375,000.00	$	165	
11/01/47	$	1,210,000.00	$	
05/01/48	$	1,210,000.00	$	175	
11/01/48	$	1,035,000.00	$	
05/01/49	$	1,035,000.00	$	185	
11/01/49	$	850,000.00	$	
05/01/50	$	850,000.00	$	195	
11/01/50	$	655,000.00	$	
05/01/51	$	655,000.00	$	205	
11/01/51	$	450,000.00	$	
05/01/52	$	450,000.00	$	220	
11/01/52	$	230,000.00	$	
05/01/53	$	230,000.00	$	230	
			$	3,535	

$	91,977.50	$	235,080.00	
$	91,977.50		
$	90,740.00	$	237,717.50	
$	90,740.00		
$	89,502.50	$	235,242.50	
$	89,502.50		
$	88,152.50	$	237,655.00	
$	88,152.50		
$	86,690.00	$	239,842.50	
$	86,690.00		
$	85,195.00	$	236,885.00	
$	85,195.00		
$	83,585.00	$	238,780.00	
$	83,585.00		
$	81,975.00	$	235,560.00	
$	81,975.00		
$	80,250.00	$	237,225.00	
$	80,250.00		
$	78,410.00	$	238,660.00	
$	78,410.00		
$	76,157.50	$	239,567.50	
$	76,157.50		
$	73,772.50	$	239,930.00	
$	73,772.50		
$	71,387.50	$	235,160.00	
$	71,387.50		
$	68,870.00	$	235,257.50	
$	68,870.00		
$	66,220.00	$	235,090.00	
$	66,220.00		
$	63,305.00	$	239,525.00	
$	63,305.00		
$	60,257.50	$	238,562.50	
$	60,257.50		
$	57,077.50	$	237,335.00	
$	57,077.50		
$	53,765.00	$	235,842.50	
$	53,765.00		
$	50,187.50	$	238,952.50	
$	50,187.50		
$	46,337.50	$	236,525.00	
$	46,337.50		
$	42,212.50	$	238,550.00	
$	42,212.50		
$	37,812.50	$	240,025.00	
$	37,812.50		
$	33,275.00	$	236,087.50	
$	33,275.00		
$	28,462.50	$	236,737.50	
$	28,462.50		
$	23,375.00	$	236,837.50	
$	23,375.00		
$	18,012.50	$	236,387.50	
$	18,012.50		
$	12,375.00	$	235,387.50	
$	12,375.00		
$	6,325.00	$	238,700.00	
$	6,325.00	$	236,325.00	

-
,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
-
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-
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-
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-
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-
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-
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-
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-
,000.00
-
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,000.00  $

3,643,397.42  $

7,178,397.42

Section VIII

to be provided under separate cover

Section IX

REBATE REPORT
$3,535,000
Lake Lizzie Community Development District
(Osceola, Florida)
Capital Improvement Revenue Bonds, Series 2023 (2023 Assessment Area)

Dated: July 7, 2023
Delivered: July 7, 2023

Rebate Report to the Computation Date July 7, 2028
Reflecting Activity To October 31, 2024

TABLE OF CONTENTS

AMTEC Opinion	3	
Summary of Rebate Computations	4	
Summary of Computational Information and Definitions	5	
Methodology	7	
Sources and Uses	8	
Proof of Arbitrage Yield	9	
Bond Debt Service	11	
Arbitrage Rebate Calculation Detail Report – Project Fund	13	
Arbitrage Rebate Calculation Detail Report – Debt Service Reserve Fund	14	
Arbitrage Rebate Calculation Detail Report – Capitalized Interest Fund	15	
Arbitrage Rebate Calculation Detail Report – Cost of Issuance Fund	16	
Arbitrage Rebate Calculation Detail Report – Rebate Computation Credit	17	

November 26, 2024

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

Re:	$3,535,000 Lake Lizzie Community Development District (Osceola, Florida), Capital
Improvement Revenue Bonds, Series 2023 (2023 Assessment Area)	

Dear Ms. Costa:
AMTEC has prepared certain computations relating to the above referenced bond issue (the “Bonds”) at the request of the Lake Lizzie Community Development District (the “District”).
The scope of our engagement consisted of preparing the computations shown in the attached schedules to determine the Rebatable Arbitrage as described in Section 103 of the Internal Revenue Code of 1954, Section 148(f) of the Internal Revenue Code of 1986, as amended (the "Code"), and all applicable Regulations issued thereunder. The methodology used is consistent with current tax law and regulations and may be relied upon in determining the rebate liability. Certain computational methods used in the preparation of the schedules are described in the Summary of Computational Information and Definitions.

Our engagement was limited to the computation of Rebatable Arbitrage based upon the information furnished to us by the District. In accordance with the terms of our engagement, we did not audit the information provided to us, and we express no opinion as to the completeness, accuracy or suitability of such information for purposes of calculating the Rebatable Arbitrage.

We have scheduled our next Report as of June 30, 2025. Thank you and should you have any questions, please do not hesitate to contact us.

Very truly yours,

Michael J. Scarfo
Senior Vice President	Trong M. Tran
Assistant Vice President	

SUMMARY OF REBATE COMPUTATIONS
Our computations, contained in the attached schedules, are summarized as follows: For the July 7, 2028 Computation Date
Reflecting Activity from July 7, 2023 through October 31, 2024

Fund Description	Taxable Inv Yield	Net Income	Rebatable Arbitrage	
Project Fund	4.984659%	22,551.35	(2,247.28)	
Debt Service Reserve Fund	5.278752%	8,253.60	(161.25)	
Capitalized Interest Fund	5.268870%	1,005.51	(25.31)	
Cost of Issuance Fund	5.271155%	235.99	(5.76)	
Totals	5.066472%	$32,046.45	$(2,439.60)	
Bond Yield	5.372859%		
Rebate Computation Credit	(2,559.03)	
Net Rebatable Arbitrage	$(4,998.63)	

Based upon our computations, no rebate liability exists.

SUMMARY OF COMPUTATIONAL INFORMATION AND DEFINITIONS
COMPUTATIONAL INFORMATION

For purposes of computing Rebatable Arbitrage, investment activity is reflected from July 7, 2023, the date of the closing, to October 31, 2024, the Computation Period. All nonpurpose payments and receipts are future valued to the Computation Date of July 7, 2028.

Computations of yield are based on a 360-day year and semiannual compounding on the last day of each compounding interval. Compounding intervals end on a day in the calendar year corresponding to Bond maturity dates or six months prior.

For investment cash flow, debt service and yield computation purposes, all payments and receipts are assumed to be paid or received respectively, as shown on the attached schedules.
Purchase prices on investments are assumed to be at fair market value, representing an arm's length transaction.
During the period between July 7, 2023 and October 31, 2024, the District made periodic payments into the Debt Service Fund that were used, along with the interest earned, to provide the required debt service payments.
Under Section 148(f)(4)(A), the rebate requirement does not apply to amounts in certain bona fide debt service funds. The Regulations define a bona fide debt service fund as one that is used primarily to achieve a proper matching of revenues with principal and interest payments within each bond year. The fund must be depleted at least once each bond year, except for a reasonable carryover amount not to exceed the greater of the earnings on the fund for the immediately preceding bond year or 1/12th of the principal and interest payments on the issue for the immediately preceding bond year.
We have reviewed the Debt Service Fund and have determined that the funds deposited have functioned as a bona fide debt service fund and are not subject to the rebate requirement.

DEFINITIONS

Computation Date
July 7, 2028.

Computation Period
The period beginning on July 7, 2023, the date of the closing, and ending on October 31, 2024.

Bond Year
Each one-year period (or shorter period from the date of issue) that ends at the close of business on the day in the calendar year that is selected by the Issuer. If no day is selected by the Issuer before the earlier of the final maturity date of the issue or the date that is five years after the date of issue, each bond year ends at the close of business on the anniversary date of the issuance.

Bond Yield
The discount rate that, when used in computing the present value of all the unconditionally payable payments of principal and interest with respect to the Bonds, produces an amount equal to the present value of the issue price of the Bonds. Present value is computed as of the date of issue of the Bonds.

Taxable Investment Yield
The discount rate that, when used in computing the present value of all receipts of principal and interest to be received on an investment during the Computation Period, produces an amount equal to the fair market value of the investment at the time it became a nonpurpose investment.

Issue Price
The price determined on the basis of the initial offering price at which price a substantial amount of the Bonds was sold.

Rebatable Arbitrage
The Code defines the required rebate as the excess of the amount earned on all nonpurpose investments over the amount that would have been earned if such nonpurpose investments were invested at the Bond Yield, plus any income attributable to the excess. Accordingly, the Regulations require that this amount be computed as the excess of the future value of all the nonpurpose receipts over the future value of all the nonpurpose payments. The future value is computed as of the Computation Date using the Bond Yield.

Funds and Accounts
The Funds and Accounts activity used in the compilation of this Report was received from the District and US Bank, Trustee, as follows:

Fund / Account	Account Number	
Project Fund	239592005	
Debt Service Reserve Fund	239592004	
Capitalized Interest Fund	239592006	
Cost of Issuance Fund	239592007	
Sinking Fund	239592002	
Interest	239592001	
Revenue	239592000	
Prepayment	239592003	

METHODOLOGY

Bond Yield
The methodology used to calculate the bond yield was to determine the discount rate that produces the present value of all payments of principal and interest through the maturity date of the Bonds.

Investment Yield and Rebate Amount
The methodology used to calculate the Rebatable Arbitrage, as of October 31, 2024, was to calculate the future value of the disbursements from all funds, subject to rebate, and the value of the remaining bond proceeds, at the yield on the Bonds, to July 7, 2028. This figure was then compared to the future value of the deposit of bond proceeds into the various investment accounts at the same yield. The difference between the future values of the two cash flows, on July 7, 2028, is the Rebatable Arbitrage.

$3,535,000
Lake Lizzie Community Development District (Osceola, Florida)
Capital Improvement Revenue Bonds, Series 2023 (2023 Assessment Area)
Delivered: July 7, 2023

Sources of Funds

Par Amount	$3,535,000.00	
Total	$3,535,000.00	

Uses of Funds

Project Fund	$3,109,247.58	
Debt Service Reserve Fund	120,012.50	
Capitalized Interest Fund	58,964.92	
Cost of Issuance Fund	176,075.00	
Underwriter’s Discount	70,700.00	
Total	$3,535,000.00	

Prepared by AMTEC	(Finance 8.901)

PROOF OF ARBITRAGE YIELD
$3,535,000
Lake Lizzie Community Development District (Osceola, Florida)
Capital Improvement Revenue Bonds, Series 2023 (2023 Assessment Area)

Date	

Debt Service	Present Value to 07/07/2023
@ 5.3728592305%	
11/01/2023	58,964.83	57,983.10	
05/01/2024	143,102.50	137,038.49	
11/01/2024	91,977.50	85,775.63	
05/01/2025	146,977.50	133,481.20	
11/01/2025	90,740.00	80,251.83	
05/01/2026	145,740.00	125,522.59	
11/01/2026	89,502.50	75,069.80	
05/01/2027	149,502.50	122,114.01	
11/01/2027	88,152.50	70,119.47	
05/01/2028	153,152.50	118,635.59	
11/01/2028	86,690.00	65,395.35	
05/01/2029	151,690.00	111,435.04	
11/01/2029	85,195.00	60,948.90	
05/01/2030	155,195.00	108,122.59	
11/01/2030	83,585.00	56,709.26	
05/01/2031	153,585.00	101,475.55	
11/01/2031	81,975.00	52,744.96	
05/01/2032	156,975.00	98,359.65	
11/01/2032	80,250.00	48,968.69	
05/01/2033	160,250.00	95,226.63	
11/01/2033	78,410.00	45,375.22	
05/01/2034	163,410.00	92,090.09	
11/01/2034	76,157.50	41,795.92	
05/01/2035	166,157.50	88,803.10	
11/01/2035	73,772.50	38,396.32	
05/01/2036	163,772.50	83,008.59	
11/01/2036	71,387.50	35,236.37	
05/01/2037	166,387.50	79,979.12	
11/01/2037	68,870.00	32,238.36	
05/01/2038	168,870.00	76,980.79	
11/01/2038	66,220.00	29,397.20	
05/01/2039	176,220.00	76,183.15	
11/01/2039	63,305.00	26,651.93	
05/01/2040	178,305.00	73,104.00	
11/01/2040	60,257.50	24,058.90	
05/01/2041	180,257.50	70,088.19	
11/01/2041	57,077.50	21,612.42	
05/01/2042	182,077.50	67,140.05	
11/01/2042	53,765.00	19,306.88	
05/01/2043	188,765.00	66,011.68	
11/01/2043	50,187.50	17,091.56	
05/01/2044	190,187.50	63,074.70	
11/01/2044	46,337.50	14,965.55	
05/01/2045	196,337.50	61,751.90	
11/01/2045	42,212.50	12,929.30	
05/01/2046	202,212.50	60,315.51	
11/01/2046	37,812.50	10,983.56	
05/01/2047	202,812.50	57,370.63	
11/01/2047	33,275.00	9,166.42	
05/01/2048	208,275.00	55,873.50	
11/01/2048	28,462.50	7,435.82	
05/01/2049	213,462.50	54,308.05	
11/01/2049	23,375.00	5,791.37	
05/01/2050	218,375.00	52,688.94	
11/01/2050	18,012.50	4,232.31	
05/01/2051	223,012.50	51,029.30	

Prepared by AMTEC	(Finance 8.901)

PROOF OF ARBITRAGE YIELD
$3,535,000
Lake Lizzie Community Development District (Osceola, Florida)
Capital Improvement Revenue Bonds, Series 2023 (2023 Assessment Area)

Date	

Debt Service	Present Value to 07/07/2023
@ 5.3728592305%	
11/01/2051	12,375.00	2,757.54	
05/01/2052	232,375.00	50,425.91	
11/01/2052	6,325.00	1,336.63	
05/01/2053	236,325.00	48,634.88	
	7,178,397.33	3,535,000.00	
	
Proceeds Summary		

Delivery date	07/07/2023	
Par Value	3,535,000.00	
Target for yield calculation	3,535,000.00	

Prepared by AMTEC	(Finance 8.901)

BOND DEBT SERVICE
$3,535,000
Lake Lizzie Community Development District (Osceola, Florida)
Capital Improvement Revenue Bonds, Series 2023 (2023 Assessment Area)

Period Ending	Principal	Coupon	Interest	Debt Service	Annual Debt Service	
07/07/2023						
11/01/2023			58,964.83	58,964.83		
05/01/2024	50,000	4.500%	93,102.50	143,102.50	202,067.33	
11/01/2024			91,977.50	91,977.50		
05/01/2025	55,000	4.500%	91,977.50	146,977.50	238,955.00	
11/01/2025			90,740.00	90,740.00		
05/01/2026	55,000	4.500%	90,740.00	145,740.00	236,480.00	
11/01/2026			89,502.50	89,502.50		
05/01/2027	60,000	4.500%	89,502.50	149,502.50	239,005.00	
11/01/2027			88,152.50	88,152.50		
05/01/2028	65,000	4.500%	88,152.50	153,152.50	241,305.00	
11/01/2028			86,690.00	86,690.00		
05/01/2029	65,000	4.600%	86,690.00	151,690.00	238,380.00	
11/01/2029			85,195.00	85,195.00		
05/01/2030	70,000	4.600%	85,195.00	155,195.00	240,390.00	
11/01/2030			83,585.00	83,585.00		
05/01/2031	70,000	4.600%	83,585.00	153,585.00	237,170.00	
11/01/2031			81,975.00	81,975.00		
05/01/2032	75,000	4.600%	81,975.00	156,975.00	238,950.00	
11/01/2032			80,250.00	80,250.00		
05/01/2033	80,000	4.600%	80,250.00	160,250.00	240,500.00	
11/01/2033			78,410.00	78,410.00		
05/01/2034	85,000	5.300%	78,410.00	163,410.00	241,820.00	
11/01/2034			76,157.50	76,157.50		
05/01/2035	90,000	5.300%	76,157.50	166,157.50	242,315.00	
11/01/2035			73,772.50	73,772.50		
05/01/2036	90,000	5.300%	73,772.50	163,772.50	237,545.00	
11/01/2036			71,387.50	71,387.50		
05/01/2037	95,000	5.300%	71,387.50	166,387.50	237,775.00	
11/01/2037			68,870.00	68,870.00		
05/01/2038	100,000	5.300%	68,870.00	168,870.00	237,740.00	
11/01/2038			66,220.00	66,220.00		
05/01/2039	110,000	5.300%	66,220.00	176,220.00	242,440.00	
11/01/2039			63,305.00	63,305.00		
05/01/2040	115,000	5.300%	63,305.00	178,305.00	241,610.00	
11/01/2040			60,257.50	60,257.50		
05/01/2041	120,000	5.300%	60,257.50	180,257.50	240,515.00	
11/01/2041			57,077.50	57,077.50		
05/01/2042	125,000	5.300%	57,077.50	182,077.50	239,155.00	
11/01/2042			53,765.00	53,765.00		
05/01/2043	135,000	5.300%	53,765.00	188,765.00	242,530.00	
11/01/2043			50,187.50	50,187.50		
05/01/2044	140,000	5.500%	50,187.50	190,187.50	240,375.00	
11/01/2044			46,337.50	46,337.50		
05/01/2045	150,000	5.500%	46,337.50	196,337.50	242,675.00	
11/01/2045			42,212.50	42,212.50		
05/01/2046	160,000	5.500%	42,212.50	202,212.50	244,425.00	
11/01/2046			37,812.50	37,812.50		
05/01/2047	165,000	5.500%	37,812.50	202,812.50	240,625.00	
11/01/2047			33,275.00	33,275.00		
05/01/2048	175,000	5.500%	33,275.00	208,275.00	241,550.00	
11/01/2048			28,462.50	28,462.50		
05/01/2049	185,000	5.500%	28,462.50	213,462.50	241,925.00	
11/01/2049			23,375.00	23,375.00		
05/01/2050	195,000	5.500%	23,375.00	218,375.00	241,750.00	
11/01/2050			18,012.50	18,012.50		
05/01/2051	205,000	5.500%	18,012.50	223,012.50	241,025.00	

Prepared by AMTEC	(Finance 8.901)

BOND DEBT SERVICE
$3,535,000
Lake Lizzie Community Development District (Osceola, Florida)
Capital Improvement Revenue Bonds, Series 2023 (2023 Assessment Area)

Period Ending	Principal	Coupon	Interest	Debt Service	Annual Debt Service	
11/01/2051			12,375.00	12,375.00		
05/01/2052	220,000	5.500%	12,375.00	232,375.00	244,750.00	
11/01/2052			6,325.00	6,325.00		
05/01/2053	230,000	5.500%	6,325.00	236,325.00	242,650.00	
	3,535,000		3,643,397.33	7,178,397.33	7,178,397.33	

$3,535,000
Lake Lizzie Community Development District (Osceola, Florida)
Capital Improvement Revenue Bonds, Series 2023 (2023 Assessment Area)
Project Fund

ARBITRAGE REBATE CALCULATION DETAIL REPORT
FUTURE VALUE @
RECEIPTS	BOND YIELD OF
DATE	DESCRIPTION	(PAYMENTS)	(5.372859%)

07/07/23	Beg	Bal	-3,109,247.58	-4,053,086.22	
08/29/23			3,106,888.67	4,019,113.18	
08/29/23			6,941.00	8,978.97	
08/29/23			17,590.29	22,755.04	
12/06/23			-2,438.08	-3,109.20	
01/03/24			-2.32	-2.95	
02/22/24			-7,163.63	-9,033.84	
10/31/24	Bal		9,940.71	12,086.32	
10/31/24	Acc		42.29	51.42	
07/07/28	TOTALS:	22,551.35	-2,247.28	

ISSUE DATE:	07/07/23	
REBATABLE ARBITRAGE:	
-2,247.28	
COMP DATE:	07/07/28	NET INCOME:	22,551.35	
BOND YIELD: 5.372859%	TAX INV YIELD:	4.984659%	

$3,535,000
Lake Lizzie Community Development District (Osceola, Florida)
Capital Improvement Revenue Bonds, Series 2023 (2023 Assessment Area)
Debt Service Reserve Fund

ARBITRAGE REBATE CALCULATION DETAIL REPORT
FUTURE VALUE @
RECEIPTS	BOND YIELD OF
DATE	DESCRIPTION	(PAYMENTS)	(5.372859%)

07/07/23	Beg	Bal	-120,012.50	-156,443.32	
08/02/23			361.84	469.95	
09/05/23			545.32	704.81	
10/03/23			527.73	679.27	
11/02/23			545.39	699.01	
12/04/23			523.94	668.36	
01/04/24			538.48	683.88	
02/05/24			533.74	674.77	
03/01/24			499.54	629.12	
04/03/24			533.95	669.29	
05/03/24			516.60	644.69	
06/05/24			533.81	663.04	
07/03/24			516.60	639.02	
08/05/24			533.49	656.81	
09/05/24			533.56	654.00	
10/03/24			496.53	606.11	
10/31/24	Bal		120,012.50	145,916.12	
10/31/24	Acc		513.08	623.82	
07/07/28	TOTALS:	8,253.60	-161.25	

ISSUE DATE:	07/07/23	
REBATABLE ARBITRAGE:	
-161.25	
COMP DATE:	07/07/28	NET INCOME:	8,253.60	
BOND YIELD: 5.372859%	TAX INV YIELD:	5.278752%	

$3,535,000
Lake Lizzie Community Development District (Osceola, Florida)
Capital Improvement Revenue Bonds, Series 2023 (2023 Assessment Area)
Capitalized Interest Fund

ARBITRAGE REBATE CALCULATION DETAIL REPORT
FUTURE VALUE @
RECEIPTS	BOND YIELD OF
DATE	DESCRIPTION	(PAYMENTS)	(5.372859%)

07/07/23	Beg	Bal	-58,964.92	-76,864.22	
08/02/23			-361.84	-469.95	
09/05/23			-545.32	-704.81	
10/03/23			-527.73	-679.27	
11/01/23			58,964.92	75,584.48	
11/02/23			-545.39	-699.01	
12/04/23			-523.94	-668.36	
12/06/23			1,069.33	1,363.68	
12/06/23			2,438.08	3,109.20	
01/03/24			2.32	2.95	
07/07/28	TOTALS:	1,005.51	-25.31	

ISSUE DATE:	07/07/23	
REBATABLE ARBITRAGE:	
-25.31	
COMP DATE:	07/07/28	NET INCOME:	1,005.51	
BOND YIELD: 5.372859%	TAX INV YIELD:	5.268870%	

$3,535,000
Lake Lizzie Community Development District (Osceola, Florida)
Capital Improvement Revenue Bonds, Series 2023 (2023 Assessment Area)
Cost of Issuance Fund

ARBITRAGE REBATE CALCULATION DETAIL REPORT
FUTURE VALUE @
RECEIPTS	BOND YIELD OF
DATE	DESCRIPTION	(PAYMENTS)	(5.372859%)

07/07/23	Beg	Bal	-176,075.00	-229,524.07	
07/07/23			45,000.00	58,660.13	
07/07/23			45,000.00	58,660.13	
07/07/23			35,000.00	45,624.55	
07/07/23			30,000.00	39,106.76	
07/07/23			6,000.00	7,821.35	
07/07/23			2,000.00	2,607.12	
07/13/23			6,125.00	7,977.24	
02/22/24			7,163.63	9,033.84	
10/31/24	Bal		22.27	27.08	
10/31/24	Acc		0.09	0.11	
07/07/28	TOTALS:	235.99	-5.76	

ISSUE DATE:	
07/07/23	
REBATABLE ARBITRAGE:	
-5.76	
COMP DATE:	07/07/28	NET INCOME:	235.99	
BOND YIELD:	5.372859%	TAX INV YIELD:	5.271155%	

$3,535,000
Lake Lizzie Community Development District (Osceola, Florida)
Capital Improvement Revenue Bonds, Series 2023 (2023 Assessment Area)
Rebate Computation Credit

	ARBITRAGE REBATE CALCULATION DETAIL REPORT		
	
RECEIPTS	FUTURE VALUE @ BOND YIELD OF	
DATE	DESCRIPTION	(PAYMENTS)	(5.372859%)	
07/07/24	-2,070.00	-2,559.03	
07/07/28	TOTALS:	-2,070.00	-2,559.03	

ISSUE DATE:	07/07/23	REBATABLE ARBITRAGE: -2,559.03 COMP DATE:	07/07/28
BOND YIELD: 5.372859%

Section X

Section C

Section 1

Landscape Maintenance Services Proposal
prepared for
LAKE LIZZIE CDD

November 12, 2024

ALAN SCHEERER

GOVERMENTAL MANAGEMENT SERVICES
FIELD MANAGER

SERVICE MAP
The image below depicts the boundaries of the serviceable areas of your landscape as understood for the purposes of developing this proposal.

Landscape Maintenance Services Proposal	1

MONTHLY GRAND TOTAL

$5.273.50

ANNUAL GRAND TOTAL

$63,282

YOUR INVESTMENT

J.L

Landscape Maintenance Services Proposal	2

Landscape Maintenance Services Proposal

3

YOUR SERVICE CALENDAR
Managing the needs of your unique landscape requires careful planning and attention to detail. Our experienced professionals use their extensive training and state-of-the-art equipment to ensure the health and sustainability of your living investment. Should you ever have additional needs, questions or concerns, please ask us.
Geographic location and climate play a major role in the timing of our service delivery; schedules are adjusted to coincide with seasonal growth rates in order to maintain a consistent, healthy appearance. Services missed due to inclement weather will be made up as soon as possible. The following table summarizes our planned visits for completing each of the services performed on your property:

SERVICE		
Mowing	42	
Pruning/Trimming	12	
Weeding	12	
Irrigation Inspections	12	
IPM - Fertilization & Pest Control - Tree & Shrubs	4	
Mulch	1	
Palm Pruning	1	
Annual Flowers	Upon Request	

THANK YOU FOR YOUR TRUST
We look forward to working with you!

YELLOWSTONELANDSCAPE.COM

Section D

Section 1

Lake Lizzie
Community Development District

	Summary of Checks	

October 01, 2024 to October 31, 2024

Bank	Date	Check No.'s	Amount	

General Fund	

10/1/24	

88	

$	2,289.00	
	10/16/24	89-90	$	5,129.43	
	10/28/24	91	$	290.68	
			$	7,709.11	

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN 11/27/24	PAGE	1
*** CHECK DATES 10/01/2024 - 10/31/2024 ***	LAKE LIZZIE GENERAL FUND
BANK A LAKE LIZZE CDD-GF

DATE	DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS		AMOUNT	#	
10/01/24 00004	9/27/24	3454172	202408 310-51300-31500	*	2,289.00			
	GENERAL COUNSEL AUG24
KUTAK ROCK LLP											2,289.00	000088	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - -	- - - - - -	- -	-	-	- - -	-	-	-	-	- - - - -	- - - - -	- - -	
10/16/24 00002	10/01/24 91595	202410 310-51300-54000					*					175.00			
	SPECIAL DISTRICT FEE FY25													
	FLORIDA DEPARTMENT	OF ECONOMIC	OPP									175.00	000089	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - -	- - - - - -	- -	-	-	- - -	-	-	-	-	- - - - -	- - - - -	- - -	
10/16/24 00001	10/01/24 37	202410 310-51300-34000					*					3,333.33			
	MANAGEMENT FEES OCT24													
	10/01/24 37	202410 310-51300-35200					*					100.00			
	WEBSITE ADMIN OCT24													
	10/01/24 37	202410 310-51300-35100					*					150.00			
	INFORMATION TECH OCT24													
	10/01/24 37	202410 310-51300-31300					*					416.67			
	DISSEMINATION SVCS OCT24													
	10/01/24 37	202410 310-51300-51000					*					.09			

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

OFFICE SUPPLIES OCT24
10/01/24 37	202410 310-51300-42000	*	30.00
POSTAGE OCT24
10/01/24 38	202410 320-53800-34000	*	875.00
FIELD MANAGEMENT OCT24
10/01/24 38	202410 310-51300-49000	*	49.34
HOLIDAY INN MEETING ROOM
GOVERNMENTAL MANAGEMENT SERVICES	4,954.43 000090
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
10/28/24 00003	9/30/24 10122473 202409 310-51300-48000	*	290.68
NOT BOS MEETING DATES
TRIBUNE PUBLISHING COMPANY LLC DBA	290.68 000091
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A	7,709.11
TOTAL FOR REGISTER	7,709.11

LLIZ LAKE LIZZI	IARAUJO

Section 2

Lake Lizzie
Community Development District

Unaudited Financial Reporting
October 31, 2024

Table of Contents

	Balance Sheet

	General Fund

	Debt Service

	Capital Projects

	Month to Month

	Long-Term Debt

Lake Lizzie
Community Development District Combined Balance Sheet
October 31, 2024

	General Fund	Debt Service Fund	Capital Projects Fund	Totals Governmental Funds	
Assets:
Operating Account	
$	80,848	
$	-	
$	-	
$	80,848	
Due from General Fund
Investments:	$	-	$	2,008	$	-	$	2,008	
Series 2023				
Reserve	$	-	$	120,013	$	-	$	120,013	
Revenue	$	-	$	107,519	$	-	$	107,519	
Construction	$	-	$	-	$	9,941	$	9,941	
Cost of Issuance	$	-	$	-	$	22	$	22	
Total Assets	$	80,848	$	229,539	$	9,963	$	320,351	
Liabilities:			
Accounts Payable	$	1,576	$	-	$	-	$	1,576	
Due to Debt Service	$	2,008	$	-	$	-	$	2,008	
Total Liabilites	$	3,584	$	-	$	-	$	3,584	

Fund Balance:
Restricted For:
Debt Service - Series 2022	

$	-	$	229,539	$	-	

$	229,539	
Capital Projects	$	-	$	-	$	9,963	$	9,963	
Unassigned	$	77,265	$	-	$	-	$	77,265	
Total Fund Balances	$	77,265	$	229,539	$	9,963	$	316,767	
					
Total Liabilities & Fund Balance	$	80,848	$	229,539	$	9,963	$	320,351	

Lake Lizzie
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending October 31, 2024

Adopted	Prorated Budget	Actual	
Budget	Thru 10/31/24	Thru 10/31/24	Variance	

Revenues:		
Assessments - On Roll	$	237,611	$	-	$	-	$	-	
Total Revenues	$	237,611	$	-	$	-	$	-	

Expenditures:					
General & Administrative:					
Supervisors Fees	$	12,000	$	1,000	$	400	$	600	
FICA Expense	$	918	$	77	$	31	$	46	
Engineering	$	15,000	$	1,250	$	-	$	1,250	
Attorney	$	25,000	$	2,083	$	-	$	2,083	
Annual Audit	$	3,900	$	-	$	-	$	-	
Assessment Administration	$	5,000	$	5,000	$	5,000	$	-	
Arbitrage	$	900	$	-	$	-	$	-	
Dissemination	$	6,000	$	500	$	417	$	83	
Trustee Fees	$	8,081	$	-	$	-	$	-	
Management Fees	$	40,000	$	3,333	$	3,333	$	0	
Information Technology	$	1,800	$	150	$	150	$	-	
Website Maintenance	$	1,200	$	100	$	100	$	-	
Telephone	$	300	$	25	$	-	$	25	
Postage & Delivery	$	1,000	$	83	$	30	$	53	
Insurance	$	6,000	$	6,000	$	5,200	$	800	
Printing	$	1,000	$	83	$	-	$	83	
Legal Advertising	$	15,000	$	1,250	$	-	$	1,250	
Contingency	$	5,000	$	417	$	88	$	329	
Office Supplies	$	625	$	52	$	0	$	52	
Travel Per Diem	$	660	$	55	$	-	$	55	
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-	
Total General & Administrative:	$	149,559	$	21,634	$	14,924	$	6,710	

Operation and Maintenance					
Field Expenditures
Field Management	

$	10,500	

$	875	

$	875	

$	-	
Pond Mowing	$	30,000	$	2,500	$	-	$	2,500	
Pond Maintenance	$	12,000	$	1,000	$	569	$	431	
Contingency	$	35,552	$	2,963	$	-	$	2,963	
Subtotal	$	88,052	$	7,338	$	1,444	$	5,894	
					
Total O&M Expenditures:	$	88,052	$	7,338	$	1,444	$	5,894	
					
Total Expenditures	$	237,611	$	28,971	$	16,368	$	12,603	
					
Excess Revenues (Expenditures)	$	-		$	(16,368)		
					
Fund Balance - Beginning	$	-		$	93,632		
					
Fund Balance - Ending	$	-		$	77,265		

Lake Lizzie
Community Development District Debt Service Fund - Series 2023
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending October 31, 2024

Adopted	Prorated Budget	Actual	
Budget	Thru 10/31/24	Thru 10/31/24	Variance	

Revenues:		
Assessments	$	240,025	$	-	$	-	$	-	
Interest	$	4,811	$	401	$	813	$	412	
Total Revenues	$	244,836	$	401	$	813	$	412	

Expenditures:					
Interest Expense 11/1	$	91,978	$	-	$	-	$	-	
Principal Expense 5/1	$	55,000	$	-	$	-	$	-	
Interest Expense 5/1	$	91,978	$	-	$	-	$	-	
Total Expenditures	$	238,955	$	-	$	-	$	-	
					
Excess Revenues (Expenditures)	$	5,881		$	813		
					
Fund Balance - Beginning	$	106,527		$	228,726		
					
Fund Balance - Ending	$	112,407		$	229,539		

Lake Lizzie
Community Development District Capital Projects Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending October 31, 2024

Adopted	Prorated Budget	Actual	
Budget	Thru 10/31/24	Thru 10/31/24	Variance	

Revenues:

Interest	

$	

-	$	

-	$	41	

$	41	
Total Revenues	$	-	$	-	$	41	$	41	

Expenditures:

Capital Outlay-Construction	

$	

-	$	

-	$	-	

$	-	
Total Expenditures	$	-	$	-	$	-	$	-	
					
Excess Revenues (Expenditures)	$	-	$	41		
					
Fund Balance - Beginning	$	-	$	9,922		
					
Fund Balance - Ending	$	-	$	9,963		

Lake Lizzie
Community Development District Month to Month

	Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept		Total		

Revenues:

Assessment - On Roll	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$		

-	

Assessment - Direct Developer Contributions	$	-
$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-
$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Total Revenues	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	

Expenditures:			
General & Administrative:			
Supervisor Fees	$	400	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	400	
FICA Expenditures	$	31	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	31	
Engineering	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Attorney	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Annual Audit	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Assessment Administration	$	5,000	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	5,000	
Arbitrage	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Disemination Fees	$	417	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	417	
Trustee Fees	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Management Fees	$	3,333	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	3,333	
Information Technology	$	150	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	150	
Website Maintenance **	$	100	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	100	
Telephone	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Postage & Delivery	$	30	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	30	
Insurance	$	5,200	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	5,200	
Printing	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Legal Advertising	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Contingency	$	88	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	88	
Office Supplies	$	0	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	0	
Travel Per Diem	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Dues, Licenses & Subscriptions	$	175	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	175	
Total General & Administrative:	$	14,924	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	14,924	

Operation and Maintenance			
Field Expenses
Field Management	

$	875	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	875	
Pond Mowing	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Pond Maintenance	$	569	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	569	
Contingency	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Subtotal	$	1,444	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	1,444	
			
Total Expenditures	$	16,368	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	16,368	
			
Excess Revenues (Expenditures)	$	(16,368)	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	(16,368)	

Lake Lizzie
Community Development District Long Term Debt Report

Series 2023, Special Assessment Revenue Bonds	
Interest Rate:	4.500%, 4.600%, 5.300%, 5.500%	
Maturity Date:	5/1/2053	
Reserve Fund Definition	50% of Maximum Annual Debt Service	
Reserve Fund Requirement	$120,013	
Reserve Fund Balance	$120,013	
Bonds Outstanding - 07/07/2023	$3,535,000	
Less: Principal Payment - 05/01/2024	($50,000)	
Current Bonds Outstanding	$3,485,000	

Section 3

REQUISTION FOR SERIES 2024 PROJECT
The undersigned, an Authorized Officer of Lake Lizzie Community Development District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture between the District and U.S. Bank Trust Company, National Association, Fort Lauderdale, Florida, as trustee (the "Trustee"), dated as of July 1, 2023 (the "Master Indenture"), as supplemented by the Second Supplemental Trust Indenture between the District and the Trustee, dated as of November 1, 2024 (the "Supplemental Indenture" and together with the Master Indenture, the "Indenture") (all capitalized terms used herein shall have the meaning ascribed to such term in the Indenture):
Requisition Number:	1
Name of Payee:	Hanover Tyson, LLC
Amount Payable:	$2,519,763.00, plus all residual interest in the Series 2024 Acquisition and Construction Account
NOTE: Summary of eligible Acquisition Cost and Amount Payable requested hereunder below. See Table 1 attached hereto for additional information.
Phase 2 Acquisition Cost	$2,519,763.00	
Amount Payable by this Requisition (Estimated)	$1,743,682.95	
Unpaid Requisition Amount	$776,080.05	

Purpose for which paid or incurred (refer also to specific contract if amount is due and payable pursuant to a contract involving progress payments or state costs of issuance, if applicable): Acquisition of Trinity Place - Phase 2 Infrastructure Improvements
Fund or Account and subaccount, if any, from which disbursement to be
made:
The undersigned hereby certifies that:
IXI obligations in the stated amount set forth above have been incurred by the District, that each disbursement set forth above is a proper charge against the Series 2024 Acquisition and Construction Account referenced above, that each disbursement set forth above was incurred in connection with the acquisition and/or construction of the Series 2024 Project and each represents a Cost of the Series 2024 Project, and has not previously been paid out of such Account;
OR

C-1

D  this requisition is for costs of issuance payable from the Series 2024 Costs of Issuance Account that has not previously been paid out of such Account.
The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.
The undersigned hereby further certifies that such requisition contains no item representing payment on account of any retained percentage which the District is at the date of such certificate entitled to retain.
Originals or copies of the invoice(s) from the vendor of the property acquired or services rendered with respect to which disbursement is hereby requested are on file with the District.
LAKE LIZZIE COMMUNITY DEVELOPMENT DISTRICT

By,dJwJf ¥
Authorized Officer

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CONSULTING ENGINEER'S APPROVAL FOR NON-COST OF ISSUANCE REQUESTS ONLY
If this requisition is for a disbursement from other than the Series 2023 Costs of Issuance Account, the undersigned Consulting Engineer hereby certifies that this disbursement is for a Cost of the Series 2023 Project and is consistent with (a) the applicable acquisition or construction contract, (b) the plans and specifications for the portion of the Series 2023 Project with respect to which such disbursement is being made, and (c) the report of the Consulting Engineer attached as an exhibit to the Supplemental Indenture, as such report shall have been amended or modified on the date hereof.

Consulting Engineer

Summary of Phase 2 Acquisition Costs

Trinity Place - Phase 2 Improvements
Master Stormwater, Potable Water, Reclaimed Water, Sanitary Sewer, and Roadway Improvements

Less Required Developer Contribution2
TOTAL ELIGIBLE
PHASE 2 ACQUISITION COST3	Acquisition Cost
$2,519,763.001	
	$0
$2,519,763.00	
Less Amount Payable by this Requisition	$1,743,682.95
Unfunded Requisition Amount4	$776,080.05	

Table 1 Footnotes:
1 Fully paid, with all retainages released.
2 No Developer Contribution requirement.
3 Note, this Requisition represents Acquisition Cost for the Trinity Place - Phase 2 Improvements eligible for payment out ofthe Series 2024 Acquisition and Construction Account in the total amount of$2,519,763.00, which exceeds the amount available for payment in the Series 2024 Acquisition and Construction Account as ofthe date ofthis Requisition.
4 Represents the remaining Acquisition Cost not paid pursuant to this Requisition and eligible to be paid as future funds may be released and deposited in the Series 2024 Acquisition and Construction Account, under Section 403 of the Second Supplemental Trust Indenture, dated as ofNovember 1, 2024, all in accordance therewith.

C-4