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 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 A. 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. B. 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. C. 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. A. 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. 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. B. 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 A. Attorney Ms. Rigoni stated the closing for the Series 2024 Bonds is scheduled for Friday, November 8th. B. Engineer C. Ms. Adams stated the District Engineer is not in attendance so there are no Engineering related items. D. Field Manager Mr. Scheerer stated the pine trees are being checked on a regular basis. E. District Manager’s Report i. 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. ii. 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