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, December 4, 2024 at 12:30 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 Jason Lonas by phone Assistant Secretary Also present were: Tricia Adams District Manager, GMS Michelle Rigoni by phone District Counsel, Kutak Rock Alan Scheerer Field Manager, GMS FIRST ORDER OF BUSINESS Roll Call Ms. Adams called the meeting to order and called the roll. Three Board members were present in person constituting a quorum. One Board member participated by phone. 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 Zoom line. THIRD ORDER OF BUSINESS Approval of Minutes of the November 6, 2024, Board of Supervisors Meeting Ms. Adams presented the minutes from the November 6, 2024, Board of Supervisors meeting. She noted the minutes have been reviewed by staff. She asked the Board for any changes to the minutes. Hearing no changes to the minutes, Ms. Adams asked for a motion to approve. On MOTION by Mr. Iorio, seconded by Mr. Beasley, with all in favor, the Minutes of the November 6, 2024, Board of Supervisors Meeting, were approved FOURTH ORDER OF BUSINESS Consideration of Resolution 2025-03 Approving Acquisition of Phase 2 Improvements Ms. Adams stated this resolution ratifies, confirms, and approves the Phase 2 improvements. She noted this resolution was prepared by District Counsel. Ms. Rigoni added this resolution recognizes the amount the Board has already paid out. On MOTION by Mr. Iorio, seconded by Mr. Beasley, with all in favor, Resolution 2025-03, Approving Acquisition of Phase 2 Improvements, was approved. FIFTH ORDER OF BUSINESS Consideration of Resolution 2025-04 Ratifying Sale of Series 2024 bonds Ms. Adams stated this resolution ratifies, confirms, and approves the actions of Board and staff relative to the Series 2024 bond issuance. On MOTION by Mr. Beasley, seconded by Mr. Owen, with all in favor, Resolution 2025-04, Ratifying Sales of Series 2024 Bonds, was approved. SIXTH ORDER OF BUSINESS Consideration of Resolution 2025-05 Extending Terms to Match General Election Ms. Adams stated this resolution extends the terms of the Board member seats. She noted the elections will be held on even years from now on. On MOTION by Mr. Beasley, seconded by Mr. Owen, with all in favor, Resolution 2025-05 Extending Terms to Match General Election, was approved. SEVENTH ORDER OF BUSINESS Consideration of Fiscal Year 2025 Developer Funding Agreement Ms. Adams presented the Developer Funding agreement on page 29. She stated this is a supplement to the adopted budget and allows expenses such as landscape maintenance to be funded by the developer if needed. Ms. Adams stated that the adopted budget includes a contingency which will likely allow for the absorption of the additional maintenance expenses in 2025. On MOTION by Mr. Beasley, seconded by Mr. Owen, with all in favor, the Fiscal Year 2025 Developer Funding Agreement, was approved. EIGHTH ORDER OF BUSINESS Consideration of Amended and Restated Disclosure of Public Financing Ms. Adams noted this item was added to the agenda. She stated this addresses the amended and restated disclosure that is required after the Series 2024 bonds were issued. She added this will notify the public of the debt service on the property. On MOTION by Mr. Iorio, seconded by Mr. Owen, with all in favor, the Amended and Restated Disclosure of Public Financing, was approved. NINTH ORDER OF BUSINESS Presentation of Series 2023 Arbitrage Rebate Report Ms. Adams stated the tax-exempt bonds are regulated by the IRS and there is a penalty if they are earning more interest than what they are paying. She noted the report confirms that there is no rebate liability. On MOTION by Mr. Owen, seconded by Mr. Beasley, with all in favor, the Series 2023 Arbitrage Rebate Report, was approved. TENTH ORDER OF BUSINESS Consideration of Data Sharing & Usage Agreement with Osceola County Property Appraiser Ms. Adams stated the agreement would be effective January 1st, 2025, and would continue through December 31st of 2025. On MOTION by Mr. Iorio, seconded by Mr. Beasley, with all in favor, the Data Sharing & Usage Agreement with Osceola County Property Appraiser, was approved. ELEVENTH ORDER OF BUSINESS Staff Reports A. Attorney Ms. Rigoni reminded the Board of the ethics training that must be completed by the end of the year. B. Engineer There being no comments, the next item followed. C. Field Manager i. Consideration of Yellowstone Service Proposal Effective January 1st Mr. Scheerer stated they have met with Yellowstone onsite and have an additional meeting with them in the next few weeks over the irrigation system and other property details. He noted the alleyway on the map outlined is actually owned by the HOA and he will go back and fix the map. He stated the proposed work includes a one-time mulching, monthly irrigation inspections, and palm tree up-keep. Ms. Adams added for Fiscal Year 2025, the District adopted a landscape maintenance budget of $30,000 and the total cost for this proposal will be $63,282. She stated they believe they will be able to operate within the current budget by utilizing contingency funds. On MOTION by Mr. Iorio, seconded by Mr. Beasley with all in favor, the Yellowstone Service Proposal Effective January 1st, was approved. D. District Manager’s Report i. Approval of Check Register Ms. Adams presented the check register out of the general fund from October 1, 2024, through October 31, 2024, with a total amount of $7,709.11. On MOTION by Mr. Iorio, seconded by Mr. Beasley with all in favor, the Check Register, was approved. ii. Balance Sheet & Income Statement Ms. Adams presented the balance sheet that is included in the agenda packet. No action was required at this time. iii. Ratification of Series 2024 Bond Requisition No. 1 Ms. Adams stated this requisition is for $1,742,682.95 and it has been fully executed and processed. iv. Approval of Series 2024 Bond Requisition No. 2 Ms. Adams stated this bond requisition has not yet been signed by the District Engineer. She added this is for $4,781. On MOTION by Mr. Iorio, seconded by Mr. Beasley with all in favor, Ratification of Series 2024 Bond Requisition No. 1 and Approval of the Series 2024 Bond Requisition No. 2, was approved. TWELTH ORDER OF BUSINESS Other Business There being no comments, the next item followed. THIRTEENTH ORDER OF BUSINESS Supervisors Requests and Audience Comments There being no comments, the next item followed. FOURTEENTH ORDER OF BUSINESS Adjournment Ms. Adams asked for a motion to adjourn. On MOTION by Mr. Beasley, seconded by Mr. Owen, with all in favor, the meeting was adjourned. ______________________________ _____________________________ Secretary/Assistant Secretary Chairman/Vice Chairman