Deer Run Community Development.District

Agenda August 23, 2018

AGENDA

Deer Run
Community  Development District
135 W. Central Blvd., Suite 320, Orlando, Florida 32801
Phone: 407-841-5524- Fax: 407-839-1526

August 16, 2018
Board of Supervisors Deer Run Community Development District
Dear Board Members:
The Board of Supervisors of Deer Run Community Development District will meet Thursday, August 23, 2018 at 3:00 PM at the Government Services Building, 1769 E. Moody Blvd, Bunnell, FL. Following is the advance agenda for the meeting:
I. Roll Call
IL Public Comment Period
Approval of Minutes of the May 24, 2018 Meeting
Bond Related Items
Final Supplemental Engineer's Report .
Final Supplemental Assessment Methodology Report
Consideration of Resolution 2018-04 - Supplemental Assessment Resolution
Public Hearings
A Consideration of Resolution 2018-05 Adopting the Fiscal Year 2019 Budget and Relating to the Annual Appropriations
B.   Consideration  of  Resolution	2018-06  Imposing  Special	Assessments and Certifying an Assessment Roll
Consideration of Fiscal Year 2019 Budget Deficit Funding Agreement
VIL Ratification of LED Lighting Agreement with Florida Power & Light Company
Staff Reports
A Attorney
Engineer
District Manager's Report
Approval of Check Register
Balance Sheet and Income Statement
Approval of Fiscal Year 2019 Meeting Schedule
Field Manager's Report
Other Business
Supervisors Requests
Adjournment
The second order of business of the Board of Supervisors Meeting is the Public Comment Period where the public has an opportunity to be heard on propositions coming before the Board as reflected on the agenda, and any other items.
The third order of business is approval of the minutes from the May 24, 2018 meeting. A copy of the minutes is enclosed for your review.

The fourth order of business is bond related items. Section A is the Final Supplemental Engineer's Report. A copy of the report is enclosed for your review. Section B is the Final Supplemental Assessment Methodology Report. A copy of the report is enclosed for your review. Section C is consideration of Resolution 2018-04 - Supplemental Assessment Resolution. A copy of the resolution is being provided under separate cover.

The fifth order of business opens the public hearing. Section A is the consideration of Resolution 2018-05 adopting the Fiscal Year 2019 budget and relating to the annual appropriations. A copy of the Resolution and proposed budget are enclosed for your review. Section B is the consideration of Resolution 2018-06 imposing special assessments and certifying an assessment roll. A copy of the Resolution is enclosed for your review and the assessment roll will be available at the meeting for reference.

The sixth order of business is the consideration of Fiscal Year 2019 Budget Deficit Funding Agreement. A copy of the agreement is enclosed for your review.

The seventh order of business is ratification of LED lighting agreement with Florida Power & light Company. A copy of the agreement is enclosed for your review.

Section C of the eighth order of business is the District Manger's report. Section 1 includes the check registers being submitted for approval and Section 2 includes the  balance  sheet  and  income statement for your review. Section 3 is approval of Fiscal Year 2019 meeting schedule. A sample notice is enclosed for your review. Section 4 is the Field Manager's Report that  will update you on the status of any field or maintenance issues around the community. The report  will be provided under separate cover.

The balance of the agenda will be discussed at the meeting. In the meantime, if you have any questions, please contact me.

.,,.,

Sincerely,

(

(1I·7.J/'
ason M. Showe District Manager

CC:	Roy Van Wyk, District Counsel Rey Malave, District Engineer
Gina Grimes, Hill Ward Henderson Irvin Weinstein, Roger Towers, P.A.
Michael Dady, Lerner Real Estate Advisors Darrin Mossing, GMS

Enclosures

MINUTES

MINUTES OF MEETING DEER RUN
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Deer Run Community Development District was held Thursday, May 24, 2Pl8 at 3:00 p.m. in the Government Services Building, 1769 E. Moody Boulevard, Bunnell, Florida.

Present and constituting a quorum were: Robert Porter
Mark Dearing Duane Owen Jan Doan
Also present were:
Jason Showe Sarah Warren Jonathan Johnson John Shultheis Alan Scheerer Scott Barnes Mike Baldwin

FIRST ORDER OF BUSINESS

Chairman Vice Chairman
Assistant Secretary Assistant Secretary

District Manager
District Counsel by telephone District Counsel by telephone District Engineer- by telephone Field Manager
Yellowstone City of Bunnell

Roll Call

Mr. Porter called the meeting to order at 3:00 p.m.

SECOND ORDER OF BUSINESS	Public Comment Period
There being none, the next item followed.

TIDRD ORDER OF BUSINESS	Approval of the Minutes of the October 12,
2017 Meeting

On MOTION by Mr. Dearing seconded by Mr. Doan with all in favor the minutes of the October 12, 2017 meeting were approved as presented.

May 24,2018	Deer Run COD

FOURTH ORDER OF BUSINESS	Review  and  Acceptance  of  Revised Draft
Fiscal Year 2017 Audit Report

On MOTION by Mr. Dearing seconded by Mr. Doan with all in favor the Fiscal Year 20 17 audit was accepted and staff authorized to transmit the final document to the State of Florida.

FIFTH ORDER OF BUSINESS	Consideration	of	Resolution	2018-02
Approving the Proposed Fiscal Year 2019 Budget and Setting a Public Hearing
Mr. Showe gave an overview of the proposed budget that reflects an increase in assessments to offset some of the expenses and stated at this point we have no funding for the amenity center but we could include them and offset that expense with assessments. There is no contingency or capital reserve. Some of the individual line items have contingencies but we don't have anything major in terms of contingencies. We did not include anything for pump repair or fountain repair and we have a quote for those items that will be discussed later in the agenda. The thought process is that we would likely do those this year opposed to waiting. Depending on the Board's decision today we can adjust those assessments as well. We also didn't include any costs for the lake cleanup.
The 75-foot lots went up $ 150 per year, 60-foot lots went up $ 120, SO-foot lots went up
$ 100 and the townhomes went up $70.
Mr. Porter stated ultimately when we get through with the rezoning there will be no townhomes, there will be no 60's so we will have the existing 75's and everything else will end up being S0's. I do not want to subsidize the budget too much from the developer's standpoint then double everybody's assessment in a couple years. Ultimately, we are going to end up with O&M assessments of $600 or $700.
Mr. Showe stated if you want to provide us some direction in terms of you want the assessment levels at $600 or $700 we can adjust that now and put the rest in contingency.
Mr. Porter stated I don't want to do it yet. Basically, we are going up $10 a month for everybody and we will do that again for the next year and probably the year after and by then we should have something that is pretty much sustainable.
Mr. Showe stated we will likely need to enter into a deficit funding agreement with the developer.

2

May 24,2018	DeerRunCDD

Mr. Porter stated we will be happy to do that.
Mr. Showe stated later in the agenda is an addendum to the landscape contract that has been included in the proposed budget along with pump maintenance, which may or may not be needed depending on how we proceed with turning those over, but we also included fountain maintenance as well.
Mr. Porter stated we are going to end up turning over the reuse and end up doing work to clean up.
Mr. Scheerer stated that is what some of these proposals would address.

On MOTION by Mr. Doan seconded by Mr. Dearing with all in favor Resolution 2018-02 approving the proposed Fiscal Year 2019 budget and setting a public hearing for August 23, 20 18 at 3:00 p.m. in Government Services Building was approved.

SIXTH ORDER OF BUSINESS	Discussion of Proposals
Lake Clean Up with Applied Aquatic Management, Inc.
Mr. Porter stated we have a proposal to clean up the ponds and I just rode through and it doesn't appear to be that bad. We had a terrible growth of cattails and the rest of it, which we have gotten knocked down. I wouldn't spend $56,000 to speed up the process.

Landscaping with Yellowstone Landscape
Mr. Scheerer stated we understand that at some point in time it is going to be determined that the reclaimed system is going to be turned over !o the City ofBunnell. There are two pumps and the proposal is based on inspection of both pumps of some work that needs to be done to
both pumps. That is why the cost is duplicated at $16,972.
Mr. Porter stated before we start working on the pumps we ought to coordinate with the City. I don't have a problem, we will fix what needs to be fixed but we ought to have them look at it.
Mr. Showe stated we have tasked the Engineer to look at all those aspects and coordinating with the proper authorities to get the project turned over.
Mr. Porter stated before we spend money let's make sure that what we are doing is what the City would like to see done.

3

May 24, 2018	DeerRunCDD

Mr. Scheerer stated we figured if there is anything wrong with them we want them turned over in full working order and then they don't have any issues.
Mr. Porter stated check with the City and if the City approves it then just give me a call and I will go ahead and sign it.
Mr. Scheerer stated we will send these directly to you and let you know our conversations with the City of Bunnell and their recommendations.
The last item can be modified. We had included in the agenda for consideration today an amendment to the contract for landscape services. Part of that is the mowing and trimming for the pond banks should the CDD clear out those pond banks. We can remove that and $ 16,568 but in the interim rather than nickel and dime the installation of annuals and pine straw, fountain maintenance per month they would look to roll that into the actual contract and do that four times a year, pine straw twice a year, palm tree trimming twice a year just to keep it fresh. They are doing a great job and Scott spends a lot of time on the site and we appreciate that. We would like to do the $4,350, the $1,184 and $7,680 and $6,072 and add that to their contract. I will have to amend the pricing on that.
Mr. Showe stated we will get a revised agreement and send it to you.

On MOTION by Mr. Dearing seconded by Mr. Doan with all in favor addendum no. 2 to the contract with Yellowstone Landscape was approved minus the mowing.

Mr. Showe stated we will adjust the budget and instead of reducing assessments we will throw that into a contingency so there is some :flexibility going forward.

SEVENTH ORDER OF BUSINESS	Staff Reports
Attorney
There being none, the next item followed.

Engineer
Mr. Shultheis stated I want to report a conversation with Mike Baldwin of the City of Bunnell relating to the reclaimed lines and it sounds as though it is becoming timely to transfer the reclaimed water lines to the City of Bunnell because from Mike's point of view they are

4

May 24, 2018	DeerRunCDD
already getting service calls from customers to work on that system even though it has not yet been conveyed to the City. I ask the Board for direction for me to do the needed work to affect that transfer.
Mr. Porter stated as far as I'm concerned as quick as you can get it done, do so.
Mr. Baldwin stated I just checked with Kristen Bates, our community development and City Clerk. According to our legal and to make a smooth transaction a legal description of the infrastructure is needed, so some kind of as-built of the reclaimed system. That along with the bill of sale deeding of this legal description, which lays out the size of the pipe, the linear length of the pipe and that is pretty much what we are going to need and I would love to have any historical costs you have incurred and that will help us with our budgeting.
Mr. Scheerer stated I think we did that at one point in time and we can provide you with what we have spent on that and we can get with you to review the pump system. We will facilitate whatever repairs are needed.
Mr. Baldwin stated we have had some hesitation from some residents because we were going to install meters at every residence and as soon as they saw that they wanted to know if they were going to have to pay extra on their water bill. The reclaimed water is technically our product, but it is not being fed in our infrastructure. Before we got into a big pushing match we stopped installing meters and one of the things the residents mentioned is they already pay a fee to the CDD for reclaimed water, they said it was included in their dues or something.
Mr. Porter stated they are wrong. They pay an O&M charge and among the things that would be covered would be work on the reuse ifwe really did anything.
Mr. Showe stated we are not metering it ourselves or charging them directly for that.
Mr. Porter stated the bottom line is going to be you take it and they will not be charged in the future from us. It is not like we are charging them a usage fee.
Mr. Baldwin stated that was why I was curious ifyou were generating any revenue from the residents towards your maintenance.
Mr. Showe stated no.
Mr. Baldwin stated when we take on the infrastructure we are going to have to be able to budget that so we will have to do a charge and if you are charging we need to know that because we can't double charge the customer.
Mr. Porter stated we are not charging them.

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May 24,2018	Deer Run COD

Mr. Baldwin stated maybe an outline ofwhat you are charging or covering so when we get that question from residents we can provide that.
Mr. Showe stated I will show you our budget.
Mr. Doan asked is the builder going to meter new construction?
Mr. Porter stated we are planning on putting in reuse, we will have to work with Mike and figure out exactly what that means. I assume we would put in services and call you to come set the meter. We intend to have reuse everywhere.
Mr. Shultheis stated we started this conversation about a year ago, we have 50 to 60 homes now almost ready for occupancy and ifwe prplong and prolong end up having 200 homes and all ofa sudden, we are going to put in a meter you are going to get a lot ofresistance on that. You want to start something off and go from there and maybe we can grandfather some residents who have been there prior but there is a metering cost ofthe actual infrastructure plus usage.
Mr. Porter stated next time you get a permit and you tell them you are giving water away without a meter that is going to change anyway. Mike, ifyou will work with these guys we will get it done. There should have been as-builts but it was a long time ago.
Mr. Showe stated we definitely pulled some material together to provide in the past. Mr. Porter asked are the reuse lines in the right ofway or an easement outside ofit? Mr. Shultheis stated they are in the right ofway.
Mr. Porter stated the legal description is going to be pretty simple on the bill ofsale we are going to say all ofthe reuse lines and equipment are within the right ofway.
Mr. Johnson stated yes, however, I think the City is going to take one ofthe two pump stations and that being outside the right ofway I think a legal description needs to be created.
Mr. Porter asked is that platted?
Mr. Johnson responded it is platted but an additional piece is going to need to be created.
Is it the intent to convey real estate and the pump station?
Mr. Porter responded yes, they need to own that. Get with Parker and let Parker coordinate with our surveyor. Is there anything else that needs to be deeded?
Mr. Shultheis stated I believe the roadway we just put the reclaimed down all the way to
100.
Mr. Porter stated we are in the process I don't know ifwe got it done or not. Ms. Warren stated I could check the status ofthat.

May 24, 2018	DeerRunCOD

Mr. Shultheis stated that is the original one we started with because we were putting in reclaimed along that roadway and that roadway was still private and we had a construction easement for our reclaimed line, which is now on close-out we should be completely done and close-out paperwork this coming week. That project is done.
Mr. Porter stated be sure we get that process finished so we can dedicate it back to the
City.
Mr. Johnson asked on the two pump stations, the eastern and western, which one is going
to be deeded to the City?
Mr. Scheerer responded eastern.

Manager
Approval of Check Register
Mr. Showe presented the check registers from November 9, 2017 through January 16, 2018 and January 17, 2018 through May 14, 2018.

On MOTION by Mr. Dearing seconded by Mr. Doan with all in favor the check registers were approved.

Balance Sheet and Income Statement
A copy of the balance sheet and income statement were included in the agenda package.

Presentation of Number of Registered Voters - 38
A copy of the letter from the Supervisor of Elections indicating that there are 38 registered voters residing within the District was included in the agenda package.

Designation of November 15, 2018 as Landowners' Meeting Date
Mr. Showe state we have set November 15, 2018 as the landowners meeting. This will not be a full Board meeting we just need approval to hold the landowners meeting that day.

On MOTION by Mr. Dearing seconded by Mr. Doan with all in favor the landowners meeting schedul�d for November 15, 2018 at 3:00 p.m.
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May 24, 2018	DeerRun CDD

Field Manager's Report
Mr. Scheerer gave an overview of the Field Manager's report and stated we continue to have problems with the fountain.
Mr. Porter stated run a potable line and that will get rid of the problems with it silting up.

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

NINTH ORDER OF BUSINESS
There being none,

Supervisor's Requests

On MOTION by Mr. Doan seconded by Mr. Dearing with all in favor the meeting adjourned at 3:28 p.m.

SecretaryIAssistant Secretary	ChairmanNice Chairman

8

SECTION IV

SECTION A

9 Dewberry·

Second Supplemental Engineer 's Report

Deer Run
Community Development District

Prepared For
Board of Supervisors
Deer Run Community Development District Bunnell, Florida

Prepared    By Dewberry Engineers, Inc.

Revised July 2018
August 24, 2017
800 North Magnolia Avenue, Suite 1000 • Orlando, Florida•32803 • (407) 843-5120

SECOND SUPPLEMENTAL ENGINEER 'S REPORT FOR
DEER RUN COMMUNITY DEVELOPMENT DISTRICT

TABLE OF CONTENTS

SECTIONS
INTRODUCTION	1
OPINION OF  PROBABLE CONSTRUCTION COSTS	4
PERMITTING STATUS	4
ENGINEER'S CERTIFI CATI ON	5
TABLES
TABLE 1A:	LAND USE SUMMARY	5
TABLE 1 8:	UNIT MIX	6
TABLE 2A	OPINION OF  PROBABLE CONSTRUCTION COSTS	7
EXHIBITS
EXHIBIT A:	MASTER  PLAN	9
BOUN DARY SURVEY	10 

INTRODUCTION
1. 1	Report Overview

This second Supplemental Engineer's Report has been prepared by Dewberry Engineers Inc., District Engineer for the Deer Run Community Development District (COD) (herein called the "District"). This Supplemental Engineer's Report supplements the District Engineer's Master Report dated August 31 , 2007, and the Supplemental Engineer's Report for the 2008 Improvements, dated April 8, 2008, as revised, and approved by the District's Board of Supervisors (the "Board"). This report has been prepared at the direction of the Board to (i) provide an u pdate to the status of previously completed infrastructure; (ii) describe and  provide  costs  estimates  for the addition of new components to the District's capital improvement program (the "CIP") consisting of an amenity center; (iii) update the costs for  the  remainder  of the District's CIP based upon the updated development plan for the lands included within the boundaries of the District; (iv) provide an update to the permitting status for the CIP; and (v) describe the Series 2018 Project (hereinafter defined) to be funded with proceeds of the District's Series 2018 Special Assessment Revenue and Refunding Bonds (the "Series 2018 Bonds").

1 .2	Description of the District and the Development

The District encompasses approximately 690 gross acres and is located in the City of Bunnell, Florida, and generally situated north of SR 100 (Moody Avenue) and east of
U.S. 1. The District was established for the purpose of acquiring, constructing,
owning and maintaining public infrastructure improvements to the serve the lands within the Oistrict. The District has previously issued its Series 2008 Bonds to fund the acquisition and/or construction of a portion of the District's CIP including Grand Reserve Boulevard, the main spine road traversing the District, and infrastructure serving the initial phase of development consisting of 1 57 lots as well as the golf course and related facilities. It is the intent of the District to issue its Series 2018 Bonds to fund additional portions of the CIP consisting of the amenity center and certain landscaping and hardscaping improvements (the "Series 2018 Project"). The cost estimates for the District's entire CIP (both completed and planned) are illustrated in Table 2A.

Lands within the District were to have been zoned pursuant to two (2) separate zoning approvals. Approximately 602 acres were the subject of an amended and restated planned unit development (R-PUD) approved by the City Commission for the City on November 22, 2005 (the "Oak Branch R-PUD"). The Oak  Branch  R-PUD allowed (i) a mix of residential uses not to exceed 749 residential units (gross density of 1 .24 units per acre), including single-family and townhomes; (ii) approximately three (3) acres of commercial land; and (iii) approximately 114 acres for an 18-hole golf course and clubhouse. Approximately sixty percent (60%) of the land within the Oak Branch PUD was designated for conservation/open space, which includes the open areas on individual lots, natural wetland areas and the golf course.

3

The second zoning application encompassed approximately eighty-two (82) acres referred to as Deer Run (the "Deer Run PUD"). The Deer Run PUD would have allowed (i) a maximum of 328 residential units (4 units per acre) and three (3) acres of commercial property, but was never formally adopted by the City.

The Developer filed for rezoning of the undeveloped portions of the land included in the original Oak Branch R-PUD and the proposed Deer Run PUD. That rezoning includes approximately 1 95 acres, but does not include the previously zoned, permitted, developed and platted 1 57 lots or the existing 18-hole golf course. The property included in the new zoning ordinance is known as Grand Reserve (the "Grand Reserve PUD") The Grand Reserve PUD was effective May 29, 2018 and is recorded in Official Records Book 2283, page 48 of the public records of Flagler County, Florida. The Grand Reserve PUD allows development of 686 single family lots, with a minimum lot width of 40' and minimum lot size of 4,000 square feet, along with approximately two and one-half (2.5) acres of commercial property fronting on State Road 100.

D.R. Horton, Inc. - Jacksonville (the "Developer") serving as the new developer of the project has redesigned the project to be developed as a single-family residential community known as Grande Reserve (the "Development") which, in addition to the existing golf course and related facilities, is currently planned to include 843 residential units and an approximately 2.5-acre commercial parcel situated at the southeast comer of the entrance on U.S. 1. 

As depicted in Table 1 B, the current revised development plan for the Development consists of a total of 843 single-family residential lots consisting of the existing Grand Reserve and an additional six (6) units referred to as Grand Reserve. Pursuant to the approvals provided for in the Oak Branch R-PUD, the existing Grand Reserve was developed and platted as 1 57 tots (61 - seventy-five [75] foot lots and 96 - fifty [50] foot lots) and the golf course together with the golf clubhouse and maintenance facility.

As stated herein, the District intends to issue its Series 201 8 Bonds to acquire and/or construct the Series 2018 Project which consists of the amenity center and certain landscaping and hardscaping improvements which are estimated to cost $3.5 million. The amenity center included as part of the Series 2018 Project will be owned and operated by the District for the use of all residents in the District. The remainder of the infrastructure for the District is expected to be constructed by the Developer. The cost estimates for the completed and remaining portions of the District's CIP are shown in Table 2A.

1. 3	Purpose of the Report

The purpose of this Supplemental Engineer's Report is to (i) provide an update to the status of previously completed infrastructure; (ii) describe and provide costs estimates for the addition of new components to the District's CIP consisting of an amenity center; (iii) update the costs for the remainder of the District's CIP based upon the updated development plan for the lands included within the boundaries
4

of the District; (iv) provide an update to the permitting status for the GIP; and (v) describe the Series 2018 Project to be funded with proceeds of the District's Series 2018 Bonds. The District will finance, acquire and/or, construct, operate, and maintain certain components of the infrastructure improvements that are needed to serve the Development. The project description, site data and other supporting information presented in the original Engineer's Report dated August 31 , 2007, and as noted in the Supplemental Engineer's Report dated April 8, 2008, as revised, shall be referenced in its entirety except for the updates provided within this Supplemental Engineer's Report.

1 .4	Updated Land Use Descriptions

As depicted in Table 1 B, the current revised development plan for the Development consists of a total of 843 single-family residential lots to be developed in six (6) units referred to as Grand Reserve including the existing phase. Pursuant to the approvals provided for in the Oak Branch R-PUD, the existing  Grand  Reserve was developed and platted as of 157 lots (61 - seventy-five [75]  foot  lots and  96 - fifty [50]  foot lots) and the golf course together with the golf clubhouse and maintenance facility.

1 .5	Ownership and Maintenance

The ownership and maintenance responsibilities of the District's GIP are set forth as follows:

Proposed Infrastructure	Ownership	Constructed	Maintenance	
Improvements
Water Distribution and Sanitary Sewer	
City*	By
Developer	Responsibility
City	
Collection System				
Surface Water Management System	COD/Golf	Developer*	COD/Golf	
	Course**		Course**	
On-site and Off-site Wetland Mitigation	COD	COD	CDD	
On-site Transportation Improvements	City*	COD	City*	
On-site	ROW	Landscaping	and	CDD	COD	COD	
Maintenance				
Off-site Transportation Improvements	FOOT	COD	FOOT	
Recreation Facilities/Amenity Center	COD	COD	COD	
I rrigation System	COD	COD	COD	
Electrical Underground Conduits	Utility	Developer	Utility	
*City of Bunnell
**The portions ofthe stormwater management ponds that are being acquired bythe CDD with bond proceeds will be owned by the CDD.

5

OPINION OF PROBABLE CONSTRUCTION COSTS

Table 2A presents an updated summary of the costs for the District's CIP including drainage, roadways, water, sewer and reuse, landscaping, entry features, recreational amenities and under grounding of electrical service.

A portion of the CIP has previously been completed and was funded with proceeds of the Series 2008 Bonds and from the prior developer. The completed portions of the CIP and corresponding costs include the construction of the infrastructure associated with the existing Grand Reserve and Grand Reserve Boulevard consisting of water distribution, sanitary sewer collection, re-use mains, underground electrical conduits, and stormwater management systems. The remaining portions of the CIP that have not been completed will be constructed in phases to be determined.

The costs in Tables 2A are derived from estimates of expected quantities of infrastructure multiplied by unit costs typical in the area of the District. Included within these costs are technical services consisting of planning, land surveying, engineering, environmental permitting, soils and material testing related to such infrastructure. These services are necessary for the design, permitting and construction management of the infrastructure improvements. The costs are exclusive of legal, administrative, financing, operations or maintenance services necessary to finance, construct, and operate the infrastructure improvements proposed by the District. The District Engineer has considered and in certain instances relied upon opinions, information, and documentation prepared or supplied by others, which may have included public officials, public entities, engineering professionals and contractors.

PERMITTING STATUS

Permitting for the District's CIP has been ongoing since the beginning of the existing phase to the new phases of the D evelopment. A discussion of each of the required permits and tentative schedule for the CIP construction permits is presented below:

City of Bunnell - Rezoning: As previously discussed herein, the Development was zoned pursuant to two (2) separate zoning approvals.

U.S. Army Corps of Engineers (USACOEl - Dredge and Fill permit: Originally approved  for the entire property, a USACOE permit was obtained, which provided for the final determination of the wetland boundaries and the proposed impacts within the project. The proposed construction activities involve the removal and crossing of wetlands for development activities. Based on this permit, all the permitted encroachments were cleared and filled in conformity with the permit. We believe that within the Grand Reserve Phase 1 there is a possible wetland impact that is less than 0.1 acres of impacts. This additional impact will need to be permitted through the USACOE or satisfied via obtaining a letter stating that no permit would be required.

St. Johns River Water Management District (SJRW MDl - Environmental Resource Permit (ERP): This original ERP was issued for the overall property. This permit provided for the
6

development of the stormwater systems, ponds, roadways, and the mass grading of the project. It provided for the delineation of the wetland lines as well as any impacts to the same. This is the master permit for the infrastructures of the development. Most of the construction work under this permit has been completed. The basis for additional permit modifications for the next phases of Grand Reserve will  utilize this  permit.  The  permitting for the Grand Reserve additional phases will be submitted for approvals with the district as plans are completed . The SJRWMD permit is typically issued 60-90 days after submittal.

Florida Department of Environmental Protection {FDEP) -  Potable  Water  Permit:  Final perm its and construction plans for the next phase of Grand Reserve will be submitted for approval with the department.

Florida Department of Environmental Protection (FDEP) - Domestic Wastewater Permit: The FDEP Domestic Wastewater Permits for the proposed improvements in Grand Reserve will be submitted for approval with the department.

City of Bunnell Approvals: Final construction plan approvals for the Grand Reserve infrastructure systems will be submitted to the City for approval. In addition, the final plats will be reviewed and recorded bythe City.

ENGINEER'S CERTIFICATION

It is our opinion that the improvements proposed are necessary for the development of the lands within the District and that the estimated construction costs are fair and reasonable. It is also our opinion that the improvements included within the CIP are assessable improvements within the meaning of Chapter 1 90, F.S. We have no reason to believe that the CIP cannot be constructed at the cost described in this Supplemental Report. We believe that the District will be well served by the improvements discussed in this Supplemental Report.

I hereby certify that the foregoing is a true and correct copy of the Supplemental Report for the District.

�c?-�----
Reinardo Malave, P.E.
Florida Registration No. 31 588

7

TYPE OF USE

Stormwater Residential/Commercial Road Right of Way
Golf Course

TABLE 1A 
Deer Run COD Land Use Summary

Total Area (acres)

59.9

145.74

44.27

101 .23

Percent of Total

8.7%

21 .1% 

6.4%

14.6%

Open Space / Common Area/Amenity	26.53
Center
Wetland/Conservation	316.65
TOTAL	690.39

8

3.8%
45.4%
1 00.0%

8

57

TABLE 18 
Deer Run CDD Unit Mix

Phases

Grand Reserve (Existing and Platted)	Minimum Lot Sizes

50'X1 10'	Total Lots Per Phase

157	
Grand Reserve (Phase 1) 	50' X 11 0'	1 25	

Grand Reserve (Phase 2)	
50' X 11 0'	
117 	

Grand Reserve (Phase 3)	
40' X 1 20'		

Grand Reserve (Phase 4)	
40' X 1 20'	
135	

Grand Reserve (Phase 5)	
40' X 1 20'	
1 06	

Grand Reserve (Phase 6)	
40' X 11 5'	
146	
TOTAL LOTS		
843	
TOTAL ACREAGE - 690.405 acres
(Revised July 2018)			

9

9

DEER RUN CDD
OPINION OF PROBABLE CONSTRUCTION COSTS
PROJECT INFRASTRUCTURE BY PHASE
June 2018 Table 2A
Grand Reserve	Grand Reserve

Stormwater Management Systems	$3,533,000	$9,005,000		
Roadways	$4,056,914	$3,135,000		
Utilities (Water, Sanitary Sewer, Reuse)	$2,313,300	$5,643,000		
Landscape/Hardscape	$1,861,481		$455,000	
Underground Electrical Systems	$170,000	$632,000		
Clubhouse/Amenity Facilities			$3,000,000	
TOTALS	$11,934,695	$18,415,000	$3,455,000	

Description	Unit 1	(Units 2-4)

Series 2018 Project

I Grand Total - Project
Note: Grand Reserve Unit 1 Improvements were funded with proceeds of the Series 2008 Bonds in the amount of $6.995 million. The remainder ofthe Grand Reserve Unit 1 Improvements were funded by the prior developer.

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SECTION 8

FINAL SECOND SUPPLEMENTAL ASSESSMENT METHODOLOGY

FOR DEER RUN
COMMUNITY DEVELOPMENT DISTRICT

Date: August 23, 2018

Prepared by

Governmental Management Services - Central Florida, LLC 135 W. Central Blvd, Suite 320
Orlando, FL 32801

Table of Contents
In�oduction	3
Purpose	3
Background	3
Special Benefits  and General Benefits	4
Requirements of a Valid Assessment Methodology	5
Special Benefits  Exceed the Costs Allocated	5
Assessment Methodology	5
Overview	6
Allocation of Debt.	6
Allocation of Benefit	7
Lienability Test Special and Peculiar Benefit to the Property	7
Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay No11-Ad Valorem Assess1nents	7
3.0 True-Up Meclianism	8
4.0 Assessment Roll	8
5.0 Additional Disclosure	9
6.0 Appendix	10
Table 1: Development Program	10
Table 2: Bond Sizing	11
Table 3: Allocation of Benefit	12
Table 4: Allocation of Benefit/Total Par Debt for Each Product Type	13
Table 5: Allocation of Annual Assessments	14-15
Table 6: Preliminary Assessment Roll	16

2

Introduction

The Deer Run Community Development District is a local unit of special-purpose government organized and existing under Chapter 190, Florida Statutes (the "Distl'ict''), as amended. The District plans to issue $11,175,000 of Series 2018 Special AssessmentRevenue and Refunding Bonds (the "Series 2018 Bonds") for the purpose of refunding the outstanding Series 2008, Special Assessment Bonds ("Series 2008 Bonds"), financing certain additional infrastructure improvements within the District. The District desires to utilize the proceeds of the Series 2018 Bonds, in part, to refund the Series 2008 Bonds issued to finance a portion of the cost of the acquisition and/or construction of the public infrastructure improvements and facilities benefitting the lands within the District set forth in the Engineer's Report dated August 31, 2007 (the uSeries 2008 Project"), as well as to finance additional amenity improvements and associated landscaping and hardscaping as more specifically described in the Supple1111mtal Engineel''s Report dated August 24, 2017, as revised July 2018 (the "Series 2018 Project," and together with the Series 2008 Project, the "CIP"). Accordingly, the Series 2018 Bonds will consist of a refunding component ("Refunding Component") and a new money component ("New Money Component"). Itis anticipated that the Series 2018 Bonds will be secured by non-ad valorem special assessments levied upon benefitted lands within the District in accordance with this Second Supplemental Assessment Methodology Report (the "Assessment Report").

Purpose

This AssessmentReport provides for an assessment methodology for allocatingthe special assessments that will secure the Series 2018 Bonds. TI1e Refunding Component will be secured by the replacement of the original special assessments securing the Series 2008 Bonds with special assessments securing the Refunding Component (the "Series 2018 RefundingAssessments"). This AssessmentReport provides for the Series 2018 Refunding Assessments to be levied consistent with t:he methodology adopted when the District issued the Series 2008 Bonds. The New Money Component will be secured by special assessments levied on property benefitting from the Series 2018 Project (the "Series 2018 New Money Assessments'' and together with Series 2018 Refunding Assessments, the "Series 2018 Assessments"). The Assessment Report allocates the Series 2018 Assessments to properties based on the special benefits eacb receives from the CIP. This Assessment Report is designed to conform to the requirements of Chapl'ers 190 and 170, Florida Statutes with respect to special assessments and is consistent with our understanding of case Jaw on this subject.
It is anticipated that all of the proposed Series 2018 Assessments will be collected through the Uniform Method of Collection described in Chapter 197.3632, Florida Statutes or any other legal means availableto the District. Itis anticipated thatthe Series 2018 Assessments levied on unplatted property will be directly collected by the District and on platted property be collected via uniform method of collection. It is not the intent of this Assessment Report to address any other assessments, if applicable, that may be levied by the District, a homeowner's association, or any other unit of government.

3

Background

TheDistrictcurrently includes approximately 690 acres within the City of Bunnell, Flagler County, Florida. The development program. currently envisions approximately 843 i:esidential units, 15,000 square feet of Commercial Space and Golf Course (herein the "Development"). The proposed Development program is depicted ln Table 1. It is recognized that such land use plan may change, and this report will be modified accordingly.
The improvements contemplated by the District in the CIP provide facilities that benefit certain property withln the District. The CIP is delineated in the Engineer's Report. Specifically, the District will construct and/or acquire the stormwater management system, roadways, water, sewer and reuse systems, landscape/hardscape, underground elecb:ical systems, and clubhouse/amenity center. The estimated costs of the CIP are summarized in Table 2.

The assessment methodology is a three-step process.

The District Engineer must first determine the public infrastructure improvements and services that may be provided by the Oisbict and the costs to implement the CIP.
A calculation is made to determine the funding amounts necessary to acquire and/ or construct CIP.
Titis amount is initially divided equally among the benefited properties on a prorated gross acreage basis. Ultimately, as land is platted, this amount will be assigned to each of the benefited properties based on the number of developed units.

L3	Special Benefits and General Benefits
Improvements undertaken by the District create special and peculiar benefits to the property, differen.t in kind and degree than general benefits, for properties within its borders as well as general benefits to the public at large.

However, as discussed within this Assessment Report, these general benefits are incidental in nature and are readily distinguishable from the special and peculiar benefits, which accrue to property 1.-\'lthin the District The implementation of the CIP enables properties within its boundaries to be developed. Without the District's CIP, there would be no infrastructure to support development of land within the District. Without these improvements, development of the property within the District would be prohibited by law.

4

The1·e is no doubt thatthe general public and property owners outside the Districtwill benefit from the provision of the District's CIP. However, these benefits will be incidental to the D.isb:ict's CIP, which is designed solely to meet the needs of property withinthe Distlict Properties outside the Districtboundaries do not depend upon the District's CIP. TI1e property owners within the District are therefore receiving special benefits not received by those outside the District's boundaries.

Requirements of a Valid Assessment Methodology

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

The propettiesmustreceive a specialbenefit from the improvements being financed.
The special assessments must be fairly and reasonably apportioned among the properties being assessed.

Florida law provides for a wide application ofspecial assessments thatmeet these two chancteristics of special assessments.

Special Benefits Exceed the Costs Allocated

TI1e special benefits provided to the property owners. within the District are greater than the costs associated with providing these benefits. TI1e District Engineer estimates that the total cost of the ClP necessary to support full development of property is approximately $33,804,695. TI1e projected amount required to refund the Series 2008 Bonds and to additionally fund the Series 2018 Project, including the cost of issuance of the Bonds, the funding of debt service reserves and capitalized interest, is $11,175,000. Additionally, funding required to complete the CIP that is not funded by the Series 2018 Bonds is anticipated to be funded by the Developer. Without the CIP, the prope1ty would not be able to be developed and occupied by future residents of the community.

Assessment Methodology

Overview

Table 1 identifies the land uses by the Developer and cu1Tent landowners of the land withh\ the District The Disbict:'s Engineer's Repo1tfor the OP needed to support the Development, and these consrruction costs are outlined inTable 2. The improvements comprising the CIP and needed to supportthe Developmentare described in detail in the Engineer's Report and are estimated to cost $33,804,695.

The Series 2018 P1·oject is a portion of the ClP necessary to support the Development. The District is planning to issue $11,175,000 in Bonds to fund the Series 2018 Project,
s

provide for capitalized interest, a debt service reserve account and cost of issuance. The purpose of this Assessment Report is to confirm the benefit for the properties being assessed and to allocate the Series 2018 Assessments securing the Sei'ies 2018 Bonds to the properties benefiting from the CIP.

Allocatio11 of Debt

Allocation of debt assessments is a continuous process until the development plan is completed. The CIPanticipated tobe funded by DistrictBonds benefits theresidential, commercial, and golf course property within the District. However, the Distlict has determined that the portion of the CIP comprising the Series 2018 Project doesn't benefit the non-residential property owners.

Ute Series 2018 Assessments will be levied on an equal basis to undeveloped acres until the property is developed and a per unit basis for property within the District that is already developed. Once platting or the 1·ecording of declaration of condominium, ("Assigned Properties") has begun, the assessments will be levied to the Assigned Properties based on the be1tefits they receive. TI,e Unassigned Properties, defined as property thathas notbeen platted, assigned developmentlights or subjected to a declaration of condominium, will continue to be assessed on a per acre basis ("Unassigned Properties"). Eventually the development plan will be completed and the debt assessments relating to the Series 2018 Bonds will be allocated to the planned 843 residential units, 15,000 square feet of commercial space and the golf course wi1ltln the District, which are the beneficiaries of the CIP, as depicted in Table 5 and Table 6. If there are changes to the development plan, a true up of the assessment vvill be calculated to determine if a debt reduction or true-up payment from the Developer is required. The process is outlined in Section 3.0

The assignment of the Series 2018 Assessments in this Assessment Report sets forth the process by which debt is apportioned. Titis Assessment Report may be supplemented from time to time.

Allocation of Benefit

The CIP consists of stormwater management system, roadways, water, sewer and reuse systems, landscape/hardscape, underground electrical systems, and clubhouse/amenity center, along ·with related incidental costs. There are cum=:ntly 3 residential product types within the planned development The 75' single family lot size represents 1 ERU. Table 4 shows the allocation ofbenefit to the particular land uses. Itis important to note that the benefit derived from the improvements on the particular land uses exceeds the cost that the land uses will be paying for such benefits. In the event that additional land uses that derive benefit from the CIP are added to the District boundaries, whether by boundary amendment or increase in density, the Series 2018

6

Assessments will be allocated to such la11ds pursuant to fhe methodology described herein.

Lienability Test: Special and Peculiar Benefit to the Property
Construction and/01· acquisition by the District of its proposed CIP will provide sevel'al types of systems, facilities and services for its residents. These include stormwater management system, roadways, water, sewer and reuse systems, landscape/hardscape, underground electrical systems, and clubhouse/amenity center. These improvements accrue in differing amounts and are dependent on the type of land use receiving the special benefits peculiar to those properties, which flow from the logical relationship of the improvements to the properties.

For the provision of C1P, the special and peculiar benefits are:

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

These special and peculiar benefits are real and ascertainable, but are not yet capable of beh,g calculated as to value with maihematical certainty. However, each is more valuable than either the costofthe improvements, or the actual non-ad valoremspecial assessment levied for the improvements.

Lienability Test: Reasonable and Fair Apportionment ofthe Duty to Pay No11-Ad Valorem Assessments
A reasonable estimate of the proportion of special and peculiar benefits received from
the CIP is delineated n1 Table 3 (expressed as Benefit Per Unit).

The determination has been made that the duty to pay the non-ad valorem special assessments is fairly and reasonably apportioned because the special and peculiar benefits to the property derived from the acquisition and/or construction of the District's CIP have been apportio11ed to the property according to reasonable estimates of the special and peculiar benefits provided consistent with the land use categories.

Accordingly, no acre or parcel of property within the boundaries of the District will have a lien for the payment of any non-ad valo1·em special assessment more than the determined special benefit peculiar to that property and therefore, the debt allocation will notbe increased more than the debt allocation setforth in this Assessment Report

7

In accordance with the benefit allocation suggested for the product types in Table 3, a total debt per unit and ait annual assessment per unit have been calculated for each product type (Table 4 & 5). These amounts represent the preliminary anticipated per unit debt allocation assuming all anticipated units are built and sold as planned.

3.0	True Up Mechanisin
Although the District does not process plats, declaration of condominiun,s, site plans or revisions therel'O for the Developer, it does have an important role to play during the course of platting and site planning. Whenever a plat, declaration ofcondominium or site pla11 is processed, the District must allocate a portion of its debt to the property according to this Assessment Report outlined herein. In addition, the District must also prevent any buildup of debt on Unassigned Property. Otherwise, the land could be fully conveyed and/or platted without all of the debt being allocated. To preclude this, at the time Unassigned Properties become Assigned Ptoperlies, the District will dete1mine the amount of anticipated assessment revenue that remains on the Unassigned Properties, taking into account the proposed plat, or site plan approval. If the total anticipated assessment revenue l'O be generated from the Assigned and Unassigned Properties is greater than or equal l'O the maximum annual debt service then no adjustment is required. In the case that the revenue generated is less than the required amount then a debt reduction or true-up payment by the landowner in the amount necessary- to reduce the par amount of the outstanding bonds to a level that will be supported by the new net am,ual debt service assessments will be required. In the event that land uses that derive benefit from the CIP are added to the District boundaries, whether by boundary amendment or increase in density, the special assessments will be allocated to such lands pursuant to the methodology described herein.

4.0	Assessment Roll
TI,e Districtwill initially assigntheliens to the developed property within the District on a per unit basis and land use type. The remaining lien will be allocated 01, a gross acreage basis. As Assigned Property becomes known with certainty, the District will refine its allocation of the Series 2018 Assessments from a per acre basis to a per unit basis as shown in Table 4. If the land use plan changes, then the District will update Table 4 to reflect the changes.  As a result, the assessment liens are neither fixednor are they determinable with certainty on any acre of land in the District prior to the time final Assigned Properties become known. At this time the Series 2018 Assessments associated with the Dishict's OP "Will be djstributed evenly across the acres within the District. As the development process occurs, the debt will be distributed against the Assigned Property inthe maimer described in this Assessment Report. The current assessment roll is depicted in Table 6.

8

5.0	Additional Disclosure
Governmental Management Services-Central Florida, LLC ("GMS") is not acting or providing services to the District as a Municipal Advisor, Financial Advisor or providing inveshnent advice. GMS has prepared this reportbased upon information provided by the District's Engineer and Investment Banker in a form that meets the requirements of levying Special Assessments in accordance with Florida Statutes.

9

Land Use :	Units		
Single Family - 401		444	
Single Family 501 - Sold		6	
Single Family 501			
Single Family 751- Sold		1	
Single Family 751		60	
Commercial		15	
Golf Course		1	

Total

859

Prepared By
Governmental Management Services-Cenh'al Florida, LLC

Preliminary
Bond Sizing

Sources	Component	Component	Total	
Par amount of Bond Issue	$7,695,000	$3,480,000	$11,175,000	
Original Issue Discount	($48,094)	$0	($48,094)	
Series 2008A Revenue Fund	$219,139	$0	$219,139	
Series 2008A Construction Series 2008A Reserve Fund	$108
$21,283	$0	$108
$21,283	
Total Sources	$7,887,436	$3,480,000	$11,367,436	

Escrow Deposits/Defeasance	
$7,233,895	
$0	
$7,233,895	
Project Funds	$0	$3,183,794	$3,183,794	
Interest to 11/1/18	$77,335	$35,622	$112,956	
Reserve Fund	$277,702	$125,588	$403,290	
Underwriters Discount	$153,900	$69,600	$223,500	
Cost of Issuance	$144,604	$65,396	$210,000	
Total Uses	$7,887,436	$3,480,000	$11,367,436	

Refunding

New Money

I

Principal AmortizationInstallments Estimated Rate
Estimated Par Amount Fina\ Maturity Date

P1·ovided by: MBS Capital Markets, LLC

21
5.40%
$7,695,000
5/1/39

26
5.50%
$3,480,000
5/1/44

Prepared By

Governmental Management Services-Central Florida, LLC

TA6Lli 3
Deer Run CDD Allocation of Benefit Per Unit

Development Type :

Singhi Family 40' Single Family 50' •Sold(l) Sing!!! Filmily 50'
S"m;lc Family 75'-Sokl SinGlc Family 75' Commcrdal GolfCOU1'51!
Totnl

No. Of Units

4!1'l
6
332
1
60
1S
1
SS9

ERU
Value
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O.G7
0.67
1.00
1.00
0.50
1.69

Infrastructure Cost - No Amenities Total	Improvement

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ERU's	Cost AJlocation
237.98	44.51%	$13,308,316
4.02	0.75%	$224,803

1.00	0.19%	$55,921

222.44	41.61%	$12,439,079

G0,00	11.22"A,	53,355,263
7.50	1.40%	$419,408

---

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100",!,	52',897,296

Benefit Per Unit

529,974
53:7,467
$31,4617
$55,921 555,921
$2?,!161
S�,507

Par	Excess llenefit Debt/Unit		Per Unit

S8,95!1	$21,014
S6,720	$30,748
58,959	$211,508
$1D,D14	S!lS,847
510,014	$45,847
$5,004	$22,957
$12,633	581,874

lafu'!!!ln!ctu�e illlsl financing �lit • AmenHii:l! (2UJ}

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Tolol

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60

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843

1.00
1.00
J.00
LOO
1.00
0.00
0.00

444.00	52.67%	$2,057,989
6.00	0.'71%	$27,811
332.00	39.38%	$1,538,857
1.00	0.12'1/4,	54,635

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60.00	7.12'�	$278,107
o.oo	0.00%	so
0.00	0.00%	so
843.00	53,907,399
Iafra!itrudyr4Se CAo6"Ast-• Ci;m:il!h111d-

$4,.635
$4,635
$!l,635
$4,635
$4,635
so
so

5537
$3,014	$1,561
$4,098	$537
$4,609	$26
$26
$0	$0
so	$0

Single l'ilntlly 40'
Single Fomily 50' -Solt.I

44-l
6

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515,366,305
S252,613

$34,609
$42,102

$13,058	521,551
$9,793	$32,309

Single Family SO' Single Family 75'-Sold Singll! Fna11ly 75'

332
1
60

41,35%	$13,\l71,936
0.18%	$60,S56

Commercial	15	1.24%	
GolfCo=	1	0.28%	
Tomi		100%	

10.75%	$3,633,370
541!1,408
$94,507
$33,804,695

$42,102
$60,556
$60,556

$13,058	$29,044
$14,683	$45,873
514,683	HS,873
S.22,957
$12,633	$81,874

..Commercial and Golf Course do not benefit from the r=nlio11,tl in1proveu1e11ts being li11m1ccd with the Serles 2018 Bonds.

llle difference llehveen the p,,r debt/unltfor Single Fan1ily 50' •Sold andSingle Fomily 50' is at1ributc1ble to U1e reduced nmount of Series 2008 Bond prlnldJ>ill outstanillng on the SingleFamily50' •Sold Lots rcsultiog: from paymentofSeries 2008 Assessments andsubjl!ct to rcfun<llng.

The par debt P'\r unit for the infrastructure and financing costs oftire antcnilros is nllocated b11Sad on target assessment levels. TI11? District will recogni;ce a contribution of infrasttucturc from the Developer asa creditcorresponding to the ;iggragate difference between l11e por debt per unit and tlie bnsclln� ERU allocation ofcost.

n1e lot;il benefit for Amenitie is S,907,399 Dnd U11: par debt Issued is $3,480,000 tltllrc!orc infrastructure contributed will be in excess of$407',399.

TABLE 4
Deer Run CDD
Allocation of Serles 2018A Par Debt Assessments

Development Type :
Single Family 40'
Single Family 50' - Sold (1) Single Family 50'
Single Family 75'- Sold Single Family 75' Commercial
Golf Course

Sub Total

Numb er of Units
444
6
332
1

15
1

Total
Par Debt
$5,797,679
$58,760
$4,335,201
$14,683
$880,987
$75,057
$12,633
$11,175,000

(Refunding)	(New Money) Par Debt	Par Debt		Par Debt Per Unit	Per Unit		Per Unit
$13,058	$8,959	$4,098
$9,793	$6,720	$3,074
$13,058	$8,959	$4,098
$14,683	$10,074	$4,609
$14,683	$10,074
$5,004	$5,004	$0
$12,633	$12,633	$0

(1) The difference between U1e Refunding par debt/w1it for Single Family SO' - Sold and Single Family 50' is atlTibulable to U1e reduced amount of Series 2008 Bond pri.nicipal outstanding on the Single Family 50' - Sold Lots resulting from payment of Series 2008 Assessments and subject to refunding. The par debt per unit for the infrasll'uclure and financing costs of the amenities is allocated based on larget assessme1\t levels. The District will recognize a conb.'ibul:ion of illfrastructure from the Developer as a credit cor1·espcnding to the aggregate difference between the par debt per unitand the baseline ERU allocation of cost

TABLE S
Deer Run CDD Allocation of Series 2018 Annual
Debt Assessments

Develo_e_ment Type : Single Family 40'

Single Family 75'- Sold
Single Fa1nily 75' Commercial..,.
Golf Courseti
Sub Total

Refunding Bonds through 11-1-39

Number of	Par

Si11gle Family 50' - Sold (1)	6	$40,317	0.52%	$3,216		
Single Family 50'	332	$2,974,501	38.65%	$237,241	$760	

Units			Debt	11/u Allocation 444	$3,977,948		51.70%

1

$10,074	0.13%
60	$604,470	7.86%
15	$15,057	0.98%
1	$12,633	0.16%
859	$7,695,003	100.00%
New Mone)'. Bonds thi;:oygh 11-1-39

Net	Net Annual	Gross Annual Annual		Per Unit		Per Unit
$317,275	$715	$760

$804	$804	$855
$48,212	$804	$855
$5,986	$399	$425
$1,008	$1,008	$1,072
$ 613,741.00

Developmeilt Type : Single Fam ily 40'
Single Family 50' - Sold
Single Family 50'
Single Fan,ily 75'- Sold

Number of Units
444
6
332
1

Par Debt
$1,819,731
$18,443
$1,360,700
$4,609

% Allocation
52.29%
0.53%
39.10%
0.13%

Net	Net Annual	Gross Annual Annual(2)		Per Unit		PeJ." Unit
$100,085	$225	$240
$1,014	$169	$180
$74,839	$225
$253

Single Family 75'

60	$276,517

7.95%

$15,208

$270

Conuuercial""
Golf Course,i,t

Sub Total

0
0
843

$0
$0
$3,479,993

0.00%
0.00%
100.00%

$0	$0	$0
$0	$0	$0
$	191,400
Combined through 11-1�39

Development TX_pe : Single Family 40'
Single Family 50' - Sold

Net	Net Annual	Gross Annual Annual		Per Unit		Per Unit
$417,360	$940	$1,000

$940

$4,230	$705	$750

Single Family 50'

$31Z0SO

$1,000

Single Family 75'	$6-1,420	$1,057	$1,124	
Commercial"'"'	$5,986	$399	$425	

Single Family 751� Sold

$1,057	Sl,057	$1,124

GolfCourse**

Sub Total

$1,008	$1,008	$1,072
$805,141

TABLE S
Deer Run CDD Allocation of Series 2018 Annual
Debt Assessments

New Money Bonds through 11-2-39 through 5-1-44

52.29%

$18,443	0.53%6

Number of	Par	Net	Net Annual	Gross Annual

Single Family 40'

Develop01ent Type :

Units 444	$D1,e81b9t,731

11/,,  Allocation

$417,360

Annual(2)

$940

Per Unit

$1,000

Pet Unit

SSillgllee FFaammililyy 5500'' - Sold

332	$1,36$04,,760090	309..1130%%	$312,080

$94005	$1$,70500

0

SSiinnglee FFaammililyy 7755''- Sold
Comme1'cial....

610	$276,5$107	07..0950%%	$63,4$200

$$11,,00577	$1$1,,1244

$1,057

$0

$0

Golf Course,.,.

Sub Total

0	$0	0.00%	$0
843	$3,480,000	100.00%	$	798,147

$0	$0

TI1c difference between U1c nmtua.l asscssn,e1,1s per unit £or Single l'amily 50' -&ild end Single Family 50' is nltributablc lo U1e reduwd amount ofSeries2008 Bond prinidpal 011lsta11di11g on U,c Single Family SO' • Sold Lois resulting from payment of Series 2008 Asscssmcmls and subject lo lhe refunding.
The ;mnual assessments per w1itfor the NewMoney 501,ds are allOCillcd based on target IISSCSSRUll\t levels. TI1c District 1,ifl remg11i?.e n coi1lribulion of lnfrnstructure from the Developer as a credit COl'responding to U1e aggregate difference bctwoo11 lhe annual 11ssessn1enls per unit ancl Ute baseline ERU all01:11tion of asscs:smcn1s,
{3) Refer lo Noles l and 2.

Parcel ID

Table 6

DeerRun Community Development District Assessment Roll

Units	Owner	Lot Size

Par	Net	Gross
Debt	Annual	Annual

so

03-12-30-2975-00000-0130	1	SOWELLJOHN l< &: PATRICA H&W	75

so

0.H2-30-2975-00000-0S80	1	MCPHERSON MICHAEL & DOR01H

$14,683	$1,037	$1,124
$9,793	$705	$750

03-U-30-2975-00000-1020	1	BARNEY CHEISEA	$9,793	$705	$750
03-12-30-2975-00000-1050	1	PHILLIPS TAMMIE LYNN	50	$9,793	$705	$750
03-12-30-2975-00000-1070	1	JONE,JEROME P & CHERYL D	50	$9,793	$705	$750
03-12-30-2975-00000-1490	1	JDHNSfON ALBERT B JR &	50	$9,793	$705	$750

03-12-30-2975-00000-1500	1	JOHNsrON ALBERT B JR &

$9,793	$705

03-12-30-2975-00000-PARl	1.02	GRAND RFSERVE GOLF Il LLC	Comm - 10000	$50,038	$.3,991

�

03-U-30-2975-00000-PAR2	201	GRAND RESERVE GOl.F Il LLC	Comm - 2500	$12,510	$99&	$1,061
03-12-30-2975-00000-PAR3	3.11	GRANO RESERVE GOLF II LLC	Coq\Ql - .250()	$12,510	$998	$1,061
0H2-30-0000-00352-00U	447.41   GRAND RFSERVE GOLF II LLC	1/2 Golf	$6,316	$504	$536
12-12-30-0000-00352-0019	86.69	GRAND RESERVE GOLF II ILC	1/2 Golf	$6,316

03-12-30-2975-00000-0010	1	DR HORTON INC -JACKSONVILLE	75	514,683	$1,057
03-12-30-2975-00000-0020	1	DR HORTON lNC -JACI<SONVILL'E	75	$14,683	$1,(b"'l

$536
$1,124 51,124-

03-12-30-2975-00000-0030	1	DR HORTON INC -JACI<SONVJLLE	75	$14,683	$1,057	$1,124
03-12-30-2975-00000-0�0	1	DR HORTON IN'C - JACKSONVILLE	75	$14,683	$1,057	$1,124
03-12-30-2975-00000-0050	1	DR HORTON INC · JACIGONVIl..LE	75	$14,683	$1,057	$1,124

03-12�0-2975-00000-0060	1	DR HORTON INC - JACKSONVIU..E	75	$14,683
03-12-30-2975-00000-0070	1	DR HORTON INC - JAO:SONVILLE	75	$14,683
03-12-30-2975.QOOOO..OQ80	1	DR HORTON INC - JACKSONVILLE	75	$14,683

$1,124
$1,124
$1,124

SUM

03-12-30-2975-00000-0090	1	DR HORTON INC - JACKSONVILLE	75	$14,683	$1,057	$1,124
03-12-30-2975-00000-0100	1	DR HORTON INC - JACKSONVILLE	75	$14,683	$1,057
03-12-30-2975-00000-0110	1	DR HORTON INC - JACKSONVILLE	75	$14,683	Sl,057	$1,124
03-12-30-2975-00000-0120	1	DR HORTON INC -JACKSONVILLE	75	$14,683	$1,057	$1,124
03-12-30-29,:>-00000-0140	1	DR HORTON INC · JACKSONVILLE	75	$14,683	Sl.124
03-12-80-2975-00000-0150	1	DR HORTON  INC · JACKSONVILL'B	75	$14,683	$1,057	$1,124
03-12-30-2975-00000-0160	1	DR HORTON  INC - JACKSONVILLE	75	$14,683	$1,057	$1,124
03-12-30-2975-00000-0170	1	DR HORTON INC - JACKSONVILLE	75	$14,683	$1,057	$1,124
03-12-30-2975-00000-0180	1	DR  HORTON INC - JACKSONVILLE	75	$14,683	$1,057	$1,124
03-12-30-2975-00000-0190	l	DR HORTON INC- JACKSONVILLE	75	$14,683	$1,057	$1,1:U
03-12-30-2975-00000-0200	1	DR HORTON INC · JACKSONVILLE	'iS	$14,683	$1,057	$1,124
03-12-30-2975-00000-0210	1	DR HORTON INC - JACKSONVIU.E	75	$14,683	$1,057	$1,124.
03-ll-30·2975-00000-0220	1	DR HORTON lNC - JACKSONVILLE	75	$14,683	$1,057	$1,124
03-12-30-2975-00000-0;!30	1	DR HORTON INC · JACKSONVILLE	75	$14,683	$1,057	$1,124
03--12-30-2975-00000-0240	1	DR HORTON INC· JACI<SONVll..LE	75	$14,683	$1,057	$1.124
03-12-30-2975-00000-0250	1	DR HORTON INC ·JAasc>NVILLE	75	$14-,683	$1,057	$1,124
03-12-30-2975-00000-0260	1	DR HORTON INC - JACKSONVILLE	75	$14,683	$1,057	$1,124
03-12�2975-00000-0270	1	DR HORTON lNC - JACKSONVILLE	75	$14,683	$1,124
03-12-30-2975-0000D-0280	1        DR HORTON INC- JACKSONVILLE	75	$14,683 $1,057 $1,124 '03-12-30-2975-00000-0290	1       DR HORTON lNC • JACKSONVILLE	75	$14,683 $1, 057 $1,124 03-12-30-2975-00000.0300	1        DR HORTON lNC - JACK90NVll.LE	75	$14,683        $1,057      $1,124
03-12-30-2975-00000-0310	1        DR HORTON INC · JACJ<SONVILLE	75	514,683     $1,057     $1,124
03-12-30-29,:,.QOOl)()..()320	1         DR HORTON lNC - JACKSONVILLE	75	$14,683         $1,057          $1,124
03-12-30-2975-00000-0330	1            DR HORTON INC-JACKSONVILLE	75	$14,683        $1,057        $1,124
03-12-30-2975-00000-0340	1           DR HORTON INC- JACKSONVILLE	75	$14,683          $1,057        $1,124
03-12-30..2975-00000-0350	1        DR HORTON lNC -JACKSONVILLE	75	$14,683       $1,057       $1,124
03-12-30-2975--00000-0360	1         DR HORTON IN'C - JACKSONVILLE	75	$14.683       $1,057      $1,124
03-12-30-2975-00000-0370	1       DR HORTON INC·JACKSONVILLE	75	$14,683         $1,057       $1,124
03-12-30-2975-00000-0380	1        DR HORTON INC - JACKSONVILLE	75	$14,683      $1,057       $1,124
03-12-30-2975-00000-0�90	1         DR HORTON INC · JACJ<SONVILLE	75	$14,683         $1,057          $1,124

03-12-30-297":,-00000-0400	1	DR HORTON INC · JACI<SONVILLE	75	$14,6&3
03-12-30-2975.00000--0410	1	DR HORTON INC-JACKSONVILLE	75	$14,683

$1,124
$1,124

IParcel ID

Table 6
Deer Run Community Development District
ASRSsment Roll

Units	Owner	Lot Size	DPearbt

Net	Gross
Annual	Annual

03-12-30-2975-00000-0420	1	DR HORTON INC - )ACI<SONVJLLE	75	$14,683	$1,057	$1,124

75

03-12-30-2975-00000-0430	1	DR HORTON INC -JACKSONVILLE	75	$14,683

$1,124

03-12·30-2975-000IKHM40	1	DR HORTON INC·JACKSONVILLE

$14,683

Sl,124

1

03-12-30-2975-00000-0450	l	DR HORTON INC- JACJ<SONVILl..E	75	$14,683	$1,057	$1,124
03•12-30-2975-00000-0460	DR HORTON INC · JACI<SONVIllE	75	$1�683	$1,057	$1,124
03-12-30-2975-00000-0470	1	DR HORTON INC - JACI<SONVILLE	75	$14,683	$1,057	$1,124
03-12-30-2975-00000-0480	1	DR HORTON INC - JACKSONVILLE	75	$14,683	$1,057	$1,124
03-12-30-2975-00000-0490	1	DR HORTON INC - JACKSONVIl.LE	75	$14,683	$1,057	$1,124
03-12-30-2975-0IJ000-0500	1	DR HORTON INC - JACKSONVILLE	75	$14,683	$1,057	$1,124
03-12-30-2975-00000-0510	1	DR HORTON INC -JACKSONVILLE	75	$14,683	$1,057	$1,124
03-12-30-2975-00000-0520	1	DR HORTON INC - JACKSONVILLE	75	$14,683	$1,057	$1,124
03-12-30-2975-00000-0530	1	DR HORTON INC - JACI<SONVILLE	75	$14,683	$1,124

1

03-12-30-2975-00000-0540	1
03·12-30-2975-00000-0550

DR HORTON INC ·JACKSONVILLE DR HORTON INC -JACKSONVILLE

75	$$1144,,668633

$1,124
$1,057	$1,124

03-12-30-2975.00000-0560	1	DR HORTON INC - JACI<SONVILLE	75	$14,683	$1,124
03-12-30-2975-00000.0570	1	DR HORTON INC . JACKSONVJUE	75	$14, 663	$1,057	$1,124

1	DR HORTON INC -JACKSONVILLE	75	$14,683	$1,05703-12-30-2975-00000-0590

03-12-30-2975-00000-0580	1	DR HORTON INC • JACKSONVILLE	75	$14,683	$1,057	Sl,124
03-12-30-2975-00000,()6()()	1	DR HOR'I'ON INC - JACI<SONVILLE	75	$14,683	$1,057
03-12·30-2975-00000-0610	1	DR HORTON INC · JACKSONVILLE	75	$14,683	Sl,124
03-12-30-2975.00000-0620	1	DR HORTON INC -JACKSONVILLE	$13,058	$940

03-12-30-2975-00000-0630	1	DR HORTON INC ·JACI<SONVILLE	5so0	$13,058

$1,000

03•12·30-2975-00000-0640	1	DR HORTON INC ·JACI<SONVILLE
03-12-30-2975-00000-0650	1	DR HORlON INC · JACKSONVILLE	50
50

$13,058	$940	Sl,000
$13,058	$940	$1,000

1

03-12-30-2975-00000-0660
03-12-30-,297":>-00000-0670

1	DR HORlON JNC - JACKSONVILLE
DR HORTON INC ·JACKSONVILLE	50

$13,058
$13,058

$940	$1,000

$940

$1,000

03-12-30-2975-00000-0680	1	DR HORTON INC · JACKSONVILLE	50	$13,053	$940
03-12-30-2975-00000-o690	1	DR HORTON INC - JACKSONVILLE	50	$13,0SS	$940	$1,000
03-12-30-2975-00000-0700	1	DR HORTON INC -JACl<SONVILL"E	$13,058	$940	$1,000
03-12-30-2975-00000-0710	1	DR HORTON D'ilC •JACKSONVILLE	50	$13,058	!p940	$1,000
03-12.aG-2975-00000.()120	1	DR HORlON INC . JACKSONVILLE	50	$13,058	$940	Sl,000

03-12-30-2975--00000-0130	1	DR HORTON INC . JACl<SONVILLE
03-12-30-29'T:,-{10000-0740	1	DR HORTON INC - JACI<SONVILLE
03-12-30-2975-00000-0750	1	UR HORTON  1NC- JACI<SONVILLE

s50o

$13,058	$940	$1,000
$13,058	$940	$1,000
$13,058	$940	$1,000

03-12-30-2975-00000-0760	1	DR HORTON INC- JACI<SONVILLE	50	$13,058	$940	$1,000
03-12-30-297":xJ0000-0770	1	DR HORTON INC -JACI<SONVIll.E	50	$13,058	$940	$1,000

03-12-30-2975-00000-0780	1	OR HORTON INC - JACI<SONVILLE
03-12-30-29�0000-0790	1	DR HORTON INC -JACKSONVIlLE	50

$13,0SS	$940	$1,000
$13,058	$940	$1,000

03-12-30-2975-00000-0BOO	1	DR HORTON INC •JACI<SONVn.LE	50	$13,058

$1,000

03-12-30•2975-00000-0810	1	DR HORTON INC -JACKSONVILLE	50	$13,058	$940	$1,000

03-12-30-2975-00000-0820	1	DR HORTON INC ·JACI<SONVILLE

03-12-30-2975-00000-0840	1	DR HORTON INC - IACl<SON\IJLLE	50

03-12-30-2975--00000-0830	1	OR HORTON INC -JAO<SONV1LLE 	50

$13,058	$940	$1,000

$94.0	$1,000

$1$133,,005588	$940	$1,000

03-12-30-2975--00000-085D	1	DR HORTON lNC - JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-2975-00000.0860	1	DR HORTON INC · JACKSONVIl.LE	5500	$13,058	$940	$1,000

03-12-30-2975-00000-0870	1	DR HORTON INC -JACKSONVILLE

$13,058

$1,000

03-12-30-29?5-00000-0890	1	DR HORTON INC - JACl<SONVILLE	50	$13,058	S940	$1,000
03-12-30-2975-00000-0900	1	DR HORTON D'i!C - JACKSO�	50	$13,058	$940	$1,000

03-12-30-2975--00000.0910	1	DR HORTON lNC-JACl<SONVILLE	50	$13,058

$1,000

03-12-30-2975-00000-0920	1	DR HORTON INC -JACKSONVILLE
D3-12-30-2975-00000-0930	1	DR HORTON INC -JACKSONVILLE	50

$13,058	$940	$1,000
$13,058	$940	$1,000

03-12-30-2975-00000-0940	1	DR HORTON INC · JACKSONVIT..LE	50	$13,058	$940	$1,000

Table 6

Deer Run Community Development J)jstrict
Assessment Roll
Par	Net	Gross
Parcel ID	Units	Owner	Lot She	Debt	Annual	Annual
03-12-aD-2975-00000-0950	1	DR HORTON °'7C -JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-2975-00000-0960	1	DR HORTON  °'7C • JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-2975-00000-0970	1	DR HORTON INC ·JACKSONVILLE	50	$13,058	$940	$1,000
03-12-80-2975-00000-0980	1	DR HORTON INC - JACKSONVILLE	50	$940	$1,000
03-12-3{).29i'5-00000-0990	1.	DR HORTON INC - JACKSONVILLE	50	$13,058	$940	$1,000

so

D3-12-30-2975-0000D-1 01D	1	DR HORTON INC - JACKSONVILLE	50	513,058	$940	$1,000

03-12-30-2975-00000-1000	1	DR HORTON INC - JACKSONVILLE	50	$13,058	$940	$1,000

03-12-30-2975-0000D-1030	1	DR HORTON INC -JACKSONVILLE
03-12-30-29:75-00000-1040	1	DR HORTON  INC - JACI<SONVILLE
03-12-30-2915-0000D-1060	1	DR HORTON INC - JACKSONVILLE

ssoo

$13,058	$940
$13,058	$940	$1,000
$13,058	$940

03-12-30-29T:,-00000-1080	1	DR HORTON INC - JACKSONVItLE	50	$13,058	$940	$1,000
03-12�0-29:75-00000-1090	1	DR HORTON °'7C • JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-297S-OOOD0-1100	1	DR HORTON INC · JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-2975-0DD00-1110	1	DR HORTON INC -JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-2915-000D0-1120	1	DR HORTON INC · JACKSONVILLE	50	$13,058	S940	51,000

so

03-12-30-2975-0000D-1130	1	DR HORTON INC - JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-2975-0000Q.1140	1	DR HORTON INC - JACKSONVILLE	$13,058	$940	$1,000
03-12-30-2975-00000-1150	1	OR HORTON INC ·JACKSONVILLE	50	$13, 0SS	S940
i'S-OOOOD-1160	1	DR HORTON  INC -JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-2975-00000-1170	1	OR  HORTON  INC - JACKSONVILLE	50	$13,058	$940	$1,000
03-12-aD-29T:Kl0000-1180	1	DR HORTON INC · JACKSONVILLE	50	$13, 058	$1,000
03-12-30-2.975-00000-1190	1	DR HORTON INC·JAO<SONVILLE	50	513,058	$940	$1,000
03-12-30-2975-0DOOD-1200	1	DR HORTON INC -JACKSONVILLE	50	$13,038	$940	$1,000
03-12-30-251i'5-00000-1210	1	DR HORTON INC - JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30..2975-00000-1:UO	1	DR HORTON INC · JACKSONVILLE	50	$13,058	$5140	$1,000
03-12•30-2975-00000-1230	1	DR HORTON INC -JACKSON\IILLE	50	$13,058	$940	$1,000
03-12-30-29T:>-00000-1240	1	OR HORTON INC -JACl<SONVIU..E	50	$13,058	$940	$1,000
03-12-3D-2975-000DD-1250	1	DR HORTON INC · JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-2975-00000-1260	1	DR HORTON INC- JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-2975.0D000-1270	1	DR HORTON INC - JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-29'T:>-00000-1280	1	DR HORTON INC- JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-25175-000D0-1290	1	DR HORTON INC - JACKSONVIlLE	50	$13,058	$940	$1,000
03-12-30-2975-00000-1300	1	OR HORTON INC -JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-2975-00000-1310	1	DR HORTON INC ·JACI<SONVILLE	50	$13,05S	$940	$1,000

$940

03-12-30-2975-00000-1320	1	DR HOirrON INC · JACl<SONVILLE
03-12-30-2975-00000-1330	1	DR HORTON INC · JACK!DNVtl.LE	50

$13,058

$1,000
$1,000

03-12-30-2975-00000-1340	1	DR HORTON INC- JACI<SONVJLLE	50	$13,058	$940	$1,000
03-12-30-2975-0D000-1350	1	DR HORTON INC· JACl<SONVJI.l.E	50	$13,058	$940	$1,000
03-12-30-2975-00000-1360	1	DR HORTON INC • JACI<9'.)NVILT..E	50	$13,058	$940	$1,000
03-12-30-2975-00000-1370	l	DR HORTON INC · JACI<SONVlLLE	50	$13,058	$940	$1,000
03-12-30-2975-00000-1380	1	DR HORTON INC - JACl<SONVIl..LE	50	$13,058	$940	$1,000

s5o0

03-12-30-2975-00000-1390	1	DR HORTON INC-JACKSONVILLE	50	$13,058	$940	$1,000

03-12-30-2975-00000-1400	1	DR HORTON INC -JACKSONVJU.E
03-12-30-2975-00000-1410	1	DR HORTON INC - JAa<SONVILL'E

$13,058	$940	$1,000
$13,058	$940	$1,000

so

03-12-30-2975-000D0-1420	1	DR HORTON INC - JACl<SONVILLE	50	$13,05S	$940	$1,000
03-12-30-2.975-0000D-1430	1	DR HORTON INC ·JACKSONVILLE	50	$13,038	$940	$1.000

03-12-30-2975-00000-1440	1	DR HORTON INC - JACKSONVIl.LE	50
03-12-30-2975-00000-1450	1	DR HORTON INC • JACKSONVILLE	$13,058

$940	$1,000
$1,000

D3-12-30-2975-000DD-1460	1	DR HORTON  INC -JACKSONVILLE	50	$13, 058	$940	$1,000 03-12-30-2975-000D0-147D	1	DR HORTON  INC - JAO<SONVILLE	50	$13,058	$940	$1,000
03-12•30-2975-00000-1460	1	DR HORTON INC - JACKSONVILLE	50	$13,058	$940	$1,000
03-12-30-2975-0000D-1S10	1	DR HORTON Th.IC ·JACKSONVILLE	50	$13,058	$940	$1,000

Table 6

Deer R,mCommunity Development District Assessment Roll

Net	Gross
P;,rcel lD	UnilS     Owner	Lot Sixe	Debt Annual Annual
03-12-30-2975-00000-1520	1      DR HORTON INC - JACKSONVILLE             50	$13,058	$940      $1,000
03-12-30-2975-00000-1530	1      DR HORTON INC -JACl<SONVILLE	50	$13,058	$940        $1,000

so	$1,000

03-12-30-2975-0000o-1540	1      DR HORTON INC - JACKSONVILLE             50	$13,058	$940     $1,000
03-12-30-2975-0000IJ.1550	1    DR HORTON INC -JACKSONVILLE	$13,058	$940
03-12-30-2975-00D00-1560	1 DR HORTON INC · JACKSONVILLE	50	$13,058	$940
03-12-30-2975-00000-1570	1     DR HORTON INC · JACKSONVILLE	so	$13,058	$940      $1,000
03-12-30-0000.00352-0042	447.41    DR HORTON INC •JACKSONVILL'E	$7,280,999      $524,140        $557,596

I

11-12-30-0800-00010-0000	11.34    DR HORTON INC -JACKSONVILLE			$184,543 $13,285 $14,133 ll-12-30-5400-00010-0000		5.00   DR HORTON INC ·JACKSONVILLE				$81,368 $5,857 $6,231 12•12-30-0000-00352-0019	86.69 DR HORTON INC · JACl<SONVILLE		$1,410,764 $101,557 $108,040 Total			$11,175,000     $805,141     S8S6,S33

SECTION C

This item will be provided under separate cover

SECTION V

SECTION A

RESOLUTION 2018-05
THE ANNUAL APPROPRIATION RESOLUTION OF THE DEER RUN COMMUNITY DEVELOPMENT DISTRICT ("DISTRICT") RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET(S) FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2018, AND ENDING SEPTEMBER 30, 2019; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the District Manager has, prior to the fifteenth (1 5th)  day in June, 201 8, submitted to the Board of Supervisors ("Board") of the Deer Run Community Development District ("District") proposed budget(s) ("Proposed Budget") for the fiscal year beginning October 1, 2018 and ending September 30, 2019 ("Fiscal Year 2018/2019") along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and
WHEREAS, at least sixty (60) days prior to the adoption of the Proposed Budget, the District filed a copy of the Proposed Budget with the local governing authorities having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; and
WHEREAS, the Board set a public hearing thereon and caused notice of such public hearing to be given by publication pursuant to Section 190.008(2)(a), Florida Statutes; and
WHEREAS, the District Manager posted the Proposed Budget on the District's website at least two days before the public hearing; and
WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October pt of each year, the Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year; and
WHEREAS, the District Manager has prepared a Proposed Budget, whereby the budget shall project the cash receipts and disbursements anticipated during a given time period, including reserves for contingencies for emergency or other unanticipated expenditures during the fiscal year.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE DEER RUN COMMUNITY DEVELOPMENT DISTRICT:
SECTION 1. BUDGET
The Board has reviewed the Proposed Budget, a copy of which is on file with the office of the District Manager and at the District' s Local Records Office, and hereby approves certain amendments thereto, as shown in Section 2 below.

The Proposed Budget, attached hereto as Exhibit "A," as amended by the Board, is hereby adopted in accordance with the provisions of Section 190.008(2)(a), Florida Statutes ("Adopted Budget"), and incorporated herein by reference; provided, however, that the comparative figures contained in the Adopted Budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures.
The Adopted Budget, as amended, shall be maintained in the office of the District Manager and at the District's Local Records Office and identified as "The Budget for the Deer Run Community Development District for the Fiscal Year Ending September 30, 2019."
The Adopted Budget shall be posted by the District Manager on the District's official website within thirty (30) days after adoption, and shall remain on the website for at least 2 years.
SECTION 2. APPROPRIATIONS
There is hereby appropriated out of the revenues of the District, for Fiscal Year 2018/2019, the sum of $ 1,151,037 to be raised by the levy of assessments and/or otherwise, which sum is deemed by the Board to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion:

TOTAL GENERAL FUND
SERIES 2018 DEBT SERVICE FUND(S) TOTAL ALL FUNDS

$ 	2.._94...,,,5;:;.; 0:a.,a4,.____
$ 	8=5..;;;.6,=-53=3	_
$ 	1,.__1___51__,0__3__7  	

SECTION 3. BUDGET AMENDMENTS
Pursuant to Section 189.016, Florida Statutes, the District at any time within Fiscal Year 20 18/2019 or within 60 days following the end of the Fiscal Year 2018/2019 may amend its Adopted Budget for that fiscal year as follows:
The Board may authorize an increase or decrease in line item appropriations within a fund by motion recorded in the minutes if the total appropriations of the fund do not increase.
The District Manager or Treasurer may authorize an increase or decrease in line item appropriations within a fund if the total appropriations of the fund do not increase and if the aggregate change· in the original appropriation item does not exceed $10,000 or 10% of the original appropriation.

By resolution, the Board may increase any appropriation item and/or fund to reflect receipt of any additional unbudgeted monies and make the corresponding change to appropriations or the unappropriated balance.
Any other budget amendments shall be adopted by resolution and consistent with Florida law.
The District Manager or Treasurer must establish administrative procedures to ensure that any budget amendments are in compliance with this Section 3 and Section 189.016, Florida Statutes, among other applicable laws. Among other procedures, the District Manager or Treasurer must ensure that any amendments to budget under subparagraphs c. and d. above are posted on the District's website within 5 days after adoption and remain on the website for at least 2 years.
SECTION 4. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 23rd day of August, 2018.

ATTEST:

Secretary/Assistant Secretary

DEER RUN COMMUNITY DEVELOPMENT DISTRICT

Chair, Board of Supervisors

•

Ce.. •. . •. :.·,
Deer Run
Community Development District

Proposed Budget
FY 2019 

Table of Contents

1-2	General Fund

3-7	General Fund Narrative

8-10	Debt Service Fund - Series 2008/Series 2018

Debt Assessments Chart

Settlement Monitoring Fund

DEER RUN
COMMUNITY DEVELOPMENT DISTRICT
General Fund Budget
ADOPTED	ACTUAL	PROJECTED	TOTAL	PROPOSED FY2018		THRU		NEXT 2	AS OF		FY2019
DESCRIPTION	BUDGET	7/31/18	MONTH	9/30/18	BUDGET
Revenues
Assessments	$182,971	$182,462	$0	$182,462	$277,834

Deficit Funding	$0

Carry Forward Surplus	$1,791		$0	$1,749	$0	
TOTAL REVENUES

Expenditures	$189.562	$231.282	$1.005		$282,634	

Golf Course Lake Maintenance Contribution	$4,800 Miscellaneous Income		$0

$0	$43,576	$0
$1,005	$4,465	$4,800

$1,749

$0	$35

Administrative
Supervisor Fees	$4,000	$1,800	$1,000	$2,800	$4,000
FICA Expense	$306	$107	$61	$168	$306
Engineering	$3,550	$800	$0	$800	$3,550
Dissemination	$2,500	$2,500	$0	$2,500	$2,500
Attorney	$20,000	$6,976	$3,000	$9,976	$20,000
Annual Audit	$3,270	$3,270	$0	$3,270	$3,270
Trustee Fees	$3,500	$0	$3,500	$3,500	$3,500
Arbitrage	$600	$450	$0	$450	$450
Assessment Roll Services	$2,500	$2,500	$0	$2,500	$2,500
Management Fees	$30,000	$25,000	$5,000	$30,000	$30,000
Information Technology	$1,000	$833	$167	$1,000	$1,000
Telephone	$100	$29	$20	$49	$100
Postage	$600	$246	$50	$296	$600
Insurance	$8,141	$7,401	$0	$7,401	$8,200

$374

Printing & Binding	$800	$342	$100	$442	$800
Travel Per Diem	$500	$186	$560	$600
Legal Advertising	$500	$0	$500	$500	$500

$29

Other Current Charges	$800	$370	$84	$454	$800
Office Supplies	$150	$17	$46	$100
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175
TOTAL ADMINISTRATIVE	$82,992	$53,202	$13,685	$66,887	$82,951
Maintenance
Field Management	$15,000	$12,500	$2,500	$15,000	$15,000
Electric	$23,000	$21,230	$6,598	$27,828	$31,384
Water & Sewer	$5,200	$5,941	$800	$6,741	$7,800
Landscape Maintenance	$37,800	$60,622	$75,317	$100,000
Landscape Contingency	$6,000	$11,267	$0	$11,267	$6,000
Lake Maintenance	$17,000	$14,210	$2,560	$16,770	$17,000
Water Feature Maintenance	$0	$1,012	$9,429	$12,500
Irrigation Repairs	$2,000	$840	$500	$1,340	$10,000
Contingency	$570	$1,708	$0	$1,708	$0

--$189,936	$42,350
$4

$282,634

TOTAL MAINTENANCE	$1-06-,-5-70--$1-36-,-7-34---$281666	$165�0	$199,683

TOTAL EXPENSES

$189,562

EXCESS REVENUES/(EXPENDITURES)	$0

------ --
1,345	($41,345)

----

($0)

$0

Net Assessments	$2n,B34
Add: Discounts & Collections	116,670
Gross Assessments	!2941504

Oak Branch

I No. of Units

Deer Run
Community Development District Operations &. Maintenance Assessments

ERU Per Unit	Total ERUs	% of ERU

FY2019	FY2018
Per Unit Gross	Per Unit Gross Total Assessments Assessments	Assessments

75'	61

1.00	61.00	11.40%

$33,561.17	$550.18	$312.86

50'	338

Commercial	15,000
Golf Course	3,382

40'	444

225.33	42.10%
0.54	239.76	44.79%

$123,974.59
$131,911.89

$208.57
$146.00

0.00	7.50	1.40%
1.69	0.32%
535.28	100.00%

$4,126.37	$0.28	$0.16
i930.36	$0.28	$0.16 294,504.38

------------------

2

Deer Run
Community Development District
GENERAL FUND BUDGET

REVENUES:
Assessments

The District will levy a non-ad valorem special assessment on taxable property within the District to fund all general operating and maintenance expenditures for the Fiscal Year. It will also enter into a Deficit Funding Agreement with landowner to fund the District's general operating and maintenance expenses throughout the fiscal year.

Deficit Funding

The district has entered into a Deficit Funding Agreement with landowner to fund the District's general operating and maintenance expenses throughout the fiscal year.

GolfCourse Lake Maintenance Contribution

The District's Lake Maintenance expense will be partially funded by contributions from the Golf Course.

EXPENDITURES:
Administrative:

SupeNisor Fees

The Florida Statutes allows each supervisor to be paid per meeting, for the time devoted to District business and board meetings. The amount is based upon 5 Supervisors attending 4 meetings during the fiscal year.
FICA Expense

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

Engineering

The District's engineer, Dewberry Engineers, Inc., will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices, etc.

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. The District has contracted with Lerner Reporting Services.

3

Deer Run
Community Development District
GENERAL FUND BUDGET

Attorney

The District's legal counsel, Hopping, Green &  Sams,  will  be  providing  general  legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc.
Annual Audit

The District is required by Florida Statutes to arrange for  an  independent  audit  of its financial records on an annual basis. The District is contracted with Berger, Toombs, Elam Gaines & Frank to provide this service.
Trustee Fees

The District's Series 2008 Capital Improvement Revenue Bonds are held with a Trustee at Regions Bank.
Arbitrage

The District will contract with an independent certified public accountant, to annually calculate the District's Arbitrage Rebate Liability once the Bonds are issued. The District has contracted with AMTEC Corporation to provide this service.
Assessment Roll Services

Represents cost associated with certifying, invoicing and collections of annual operations and maintenance and debt service assessments.
Management Fees

The District has contracted with Governmental Management Services - Central  Florida,  LLC  to provide Management, Accounting and Recording Secretary Services for the District. The services include, but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financials reporting, annual audits, etc.
Information Technology

The District incurs costs related to the District's  accounting  and  information  systems, District's website creation and  maintenance,  electronic  compliance  with  Florida  Statutes and other electronic data requirements.
Telephone
Telephone and fax machine.
Postage

Mailing of agenda packages, overnight deliveries, checks for vendors, and any other  required correspondence, etc.

4

Deer Run
Community Development District
GENERAL FUND BUDGET

Insurance

Represents the District's general liability, public officials liability and property insurance coverage, which is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

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

Travel Per Diem

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

Legal Advertising

Advertising of monthly board meetings, public hearings, and any services that a re required to be advertised for public bidding, i.e. audit services, engineering service, maintenance contracts and any other advertising that may be required.

Other Current Charges

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

Office Supplies

The District incurs charges for supplies that need to be purchased during the fiscal year, including copier and printer toner cartridges, paper, file folders, binders, pens, paper clips, and other such office supplies.
Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Community Affairs for
$175. This is the only expense under this category for the District.

5

Deer Run
Community Development District
GENERAL FUND BUDGET

Maintenance:

Field Management

The District is contracted with  Governmental  Management Services,  Central  Florida  - LLC to provide onsite field management of contracts for District Services such as landscape maintenance. Services to include weekly site inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

The District incurs cost for electric and street lighting. The District has  the  following  accounts with Florida, Power & Light.

Description	Monthly	Annually	
Premium Lighting	$902	$10,824	
99 Grand Reserve Dr # Entrance	$175	$2,100	
100 Grand Reserve Pkwy # Entrance	$120	$1,440	
410 Grand Reserve Dr # B	$800	$9,600	
Decorative Lighting # Oak Branch	$585	$7,020	
Contingency		$400	
TOTAL		$31,384	
Water & Sewer			

The District incurs cost for water. The District has the following accounts with the City of Bunnell.

Description
100 Grand Reserve Pkwy
TOTAL
Landscape Maintenance

Monthly	Annually

......,_--I

$650 	$7,800
$7,800

The District will incur landscape maintenance expenses, which include mowing, edging, string-trimming, annual flower replacements, shrub and palm pruning,  weeding, fertilization, pine straw, pest control and irrigation inspections during the fiscal year. Yellowstone Landscape is contracted to provide these services.

Description	Monthly	Annually	
Landscape Maintenance	$5,741	$68,889	
Addendum	$1,101	$13,214	
Contingency		$17,897	
TOTAL		$100,000	

6

Deer Ru n
Community Development District
GENERAL FUND BUDGET

Landscape Contingency

To record the cost of landscape enhancements as well as any miscellaneous landscape items currently not budgeted or covered in landscape contract.

Lake Maintenance

The monthly aquatic management service of 24 waterways for the District is provided by Applied Aquatic Management. Services include monthly inspections and treatment for the continued control of torpedo grass, cattails, spike rush and algae.

Description
Aquatic Treatments - Entrance	Monthly
$110	Annually
$1,320	
Aquatic Treatments - 17 Ponds	$835	$10,020	
Golf Course Cost Share	$335	$4,020	
Contingency		$1,640	
TOTAL		$17,000	
Water Feature Repair and Maintenance			

The monthly inspections and repair and maintenance of Hwy 100 and USl Fountains and is contracted with Yellowstone Landscape.

Description	Monthly	Annually	
Fountain Cleaning	$506	$6,072	
Repair and Maintenance	$500	$6,000	
Contingency		$428	
TOTAL
Irrigation Repairs		$12,500	

To record the cost of repairs to the irrigation system and preventative maintenance on the irrigation pump station.

Description
Pump Station Qtrly Service Irrigation Repairs/Maintenance Contingency
TOTAL
Contingency

Monthly
$867
$500

Annually
$3,467
$6,000
$533
$10,000

To record the cost of any maintenance expenses not properly classified in any of the other accounts.

7

DEER RUN
COMMUNITY DEVELOPMENT DISTRICT
Debt Service Fund Budget

ADOPTED	PROPOSED FY2018		FY2019
DESCRIPTION	BUDGET	BUDGET

Revenues

Debt Assessments	$695,303 $806,580 Other Revenue Sources		$3,185	$0 Interest			$0	$0
Bonds Proceeds	$0	$0
carryforward	$0	$112,956
TOTAL REVENUES	$698,488	$919,536
Expenditures 2008
Interest - 1 1/1	$281,744	$0
Principal - 5/1	$135,000	$0
Interest - 5/1	$281,744	$0
2018
Interest - 1 1/1	$0	$112,956
Principal - 5/1	$0	$205,000
Interest - 5/1	$0	$303,465
TOTAL EXPENDITURES	$698,488	$621,421 EXCESS REVENUES		$0	$298,115
Interest 11/1	$297,930
Excess Revenues	$	51 6,246
Less: Debt Service Reserve	$	{403,290)
Carry Forward Surplus	$	11 2.956
8

BOND DEBT SERVICE

Deer Run Community Development District
Special Assessment Revenue and Refunding Bonds, Series 2018A (Flagler County, Florida)
FINAL NUMBERS

Dated Date	08/24/2018
Delivery Date	08/24/2018 

Period Ending	
Principal	
Coupon	
Interest	
Debt Service	Annual Debt Service	
11/01/2018			112,956.42	112,956.42	112,956.42	
05/01/2019 	205,000	5.400%	303,465.00	508,465.00		
1 1/01/2019			297,930.00	297,930.00	806,395.00	
05/01/2020	215,000	5.400%	297,930.00	512,930.00		
11/01/2020			292,125.00	292,125.00	805,055.00	
05/01 /202 1	225,000	5.400%	292, 125.00	517,125.00		
1 1/01/202 1			286,050.00	286,050.00	803, 175 .00	
05/01/2022	240,000	5.400%	286,050.00	526,050.00		
11/0 1/2022			279,570.00	279,570.00	805.620.00	
05/01 /2023	250,000	5.400%	279,570.00	529,570.00		
11/01/2023			272,820.00	272,820.00	802,390.00	
05/01/2024	265,000	5.400%	272,820.00	537,820.00		
11/0 1/2024			265,665.00	265,665.00	803,485.00	
05/01/2025	280,000	5.400%	265,665.00	545,665.00		
I 1/01/2025			258,1 05.00	258,105.00	803,770.00	
05/01/2026	295,000	5.400%	258,105.00	553,105.00		
11/01/2026			250,140.00	250,140.00	803,245.00	
05/01/2027	310,000	5.400%	250,140.00	560,140.00		
1 1/01/2027			241 ,770.00	241 ,770.00	801,910.00	
05/01/2028	330,000	5.400%	241,770.00	571 ,770.00		
1 1/01/2028			232,860.00	232,860.00	804,630.00	
05/01/2029	350,000	5.400%	232,860.00	582,860.00		
1 1/01/2029			223,410.00	223,410.00	806,270.00	
05/01 /2030	365,000	5.400%	223,410.00	588,410.00		
11/01/2030			21 3,555.00	213,555.00	801 ,965.00	
05/01 /203 1	390,000	5.400%	213,555.00	603,555.00		
11/01/203 1			203,025.00	203,025.00	806,580.00	
05/01/2032	410,000	5.400%	203,025.00	613,025.00		
1 1/01/2032			191 ,955.00	191 ,955.00	804,980.00	
05/01 /2033	430,000	5.400%	191,955.00	621 ,955.00		
1 1/01/2033			180,345.00	1 80,345.00	802,300.00	
05/01 /2034	455,000	5.400%	180,345.00	635,345.00		
11/01/2034			168,060.00	168,060.00	803,405.00	
05/01/2035	480,000	5.400%	168,060.00	648,060.00		
11/01/2035			155,100.00	155,100.00	803,160.00	
05/01/2036	505,000	5.400%	155,100.00	660,100.00		
11/01/2036			141 ,465.00	141 ,465.00	801 ,565.00	
05/01/2037	535,000	5.400%	141,465.00	676,465.00		
11/01/2037			127,020.00	127,020.00	803,485.00	
05/01/2038	565,000	5.400%	127,020.00	692,020.00		
11/01/2038			111 ,765.00	11 1,765.00	803,785.00	
05/01/2039	595,000	5.400%	111 ,765.00	706,765.00		
1 1/01/2039			95,700.00	95,700.00	802,465.00	
05/01/2040	620,000	5.500%	95,700.00	715,700.00		
11/01/2040			78,650.00	78,650.00	794,350.00	
05/01/204 1	655,000	5.500%	78,650.00	733,650.00		
11/0 1/204 1			60,637.50	60,637.50	794,287.50	
05/01/2042	695,000	5.500%	60,637.50	755,637.50		
1 1/0 1/2042	41 ,525.00	41 ,525.00	797,162.50

Aug I, 2018 3:32 pm	9	Page 5

BOND DEBT SERVICE

Deer Run Community Development District
Special Assessment Revenue and Refunding Bonds, Series 2018A (Flagler County, Florida)
FINAL NUMBERS

Period Ending	
Principal	
Coupon	
Interest	
Debt Service	Annual Debt Service	
05/01/2043	735,000	5.500%	41,525.00	776,525.00		
1 1/01/2043			21,312.50	21,312.50	797,837.50	
05/01/2044	775,000	5.500%	21,312.50	796,312.50		
11/01/2044					796,3 12.50	

11 ,175,000	9,797,541 .42	20,972,541 .42	20,972,541 .42

Aug 1, 2018 3:32 pm	10 

Page 6

Deer Run Community Development District
Debt Service Assessments
Allocation of Ser·,es 2018 through 11-1-39

Annual 2019 Annual 2019 Per Unit	Net
Product Tv�e	Units	Assessments Assessments
40'	444	$940	$417,360	
50'-Sold	6	$705	$4,230	
50'	332	$940	$312,080	
75'-Sold	1	$1,057	$1,05'7	
Commercial	60
15		$63,420
$5,985	
Golf Course	1	$1,008	$1,008	
Total	859			

444

Allocation of Series 2018 11-2-39 through 5-1-44

Product Tv�	

Units	Annual 2019
Per Unit Assessments	Annual 2019 Net
Assessments	
40'		$94(	$417,360	
50'-Sold	6	$705	$4,230	
SO'	332	$94(	$312,080	
75'-Sold	1	$1,057	$1,05'7	
	60	$1,057	$63,420	
Commercial	0	$0	$0	
Golf Course	0	$0	$0	
Total	843		$798,147	

11 

DEER RUN
COMMUNITY DEVELOPMENT DISTRICT
Settlement Monitoring Fund Budget

ADOPTED	ACTUAL	PROJECTED	TOTAL	PROPOSED FY2018		THRU		NEXT 2		AS OF		FY2019
DESCRIPTION	BUDGET	7/31/18	MONTH	9/30/18	BUDGET
Revenues

carry Forward Surplus	$23,800	$23,800
TOTAL REVENUES	$23,800	$23,800

Expenditures

$23,800	$18,000

$23,800	$18,000

ol-- - ------

TOTAL EXPENDITURES	$0	fS,050	!750	$5,800	!0-

Permit Monitoring	$-0	$5,050	$750	$-5-,8-00 	$-0
EXCESS REVENUESl{EXPENDITURES}	f23,800	f18,750	!f1s	$18,000	$18,000

12 

SECTION B

RESOLUTION 2018-06
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE DEER RUN COMMUNITY DEVELOPMENT DISTRICT MAKING A DETERMINATION OF BENEFIT AND IMPOSING SPECIAL ASSESSMENTS FOR FISCAL YEAR 2018/2019; PROVIDING FOR THE COLLECTION AND ENFORCEMENT OF SPECIAL ASSESSMENTS, INCLUDING BUT NOT LIMITED TO PENALTIES AND INTEREST THEREON; CERTIFYING AN ASSESSMENT ROLL; PROVIDING FOR AMENDMENTS TO THE ASSESSMENT ROLL; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Deer Run Community Development District ("District") is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, for the purpose  of providing,  operating  and  maintaining 'infrastructure  improvements,  facilities  and services to the lands within the District; and
WHEREAS, the District is located in the City of Bunnell within Flagler County, Florida
("County"); and
WHEREAS, the District has constructed or acquired various infrastructure improvements and provides certain services in accordance with the District's adopted capital improvement plan and Chapter 190, Florida Statutes; and
WHEREAS, the Board of Supervisors ("Board") of the District hereby determines to undertake various operations and maintenance and other activities described in the District's budget ("Adopted Budget") for the fiscal year beginning October 1, 2018 and ending September 30, 2019 ("Fiscal Year 2018/2019"), attached hereto as Exhibit "A;" and
WHEREAS, the District must obtain sufficient funds to provide for the operation and maintenance of the services and facilities provided by the District as described in the Adopted Budget; and
WHEREAS, the provision of such services, facilities, and operations is a benefit to lands within the District; and
WHEREAS, Chapter 190, Florida Statutes, provides that the District may impose special assessments on benefitted lands within the District; and
WHEREAS, it is in the best interests of the District to proceed with the imposition of the special assessments for operations and maintenance in the amount set forth in the Adopted Budget; and
WHEREAS, the District has previously levied an assessment for debt service, which the District desires to collect for Fiscal Year 2018/2019; and

WHEREAS, Chapter 197, Florida Statutes, provides a mechanism pursuant to which such special assessments may be placed on the tax roll and collected by the local tax collector ("Uniform Method"), and the District has previously authorized the use of the Uniform Method by, among other things, entering into agreements with the Property Appraiser and Tax Collector of the County for that purpose; and
WHEREAS, it is in the best interests of the District to adopt the assessment roll ("Assessment Roll") attached to this Resolution as Exhibit "B," and to certify the portion of the Assessment Roll related to certain developed property ("Tax Roll Property") to the County Tax Collector pursuant to the Uniform Method and to directly collect the portion of the Assessment Roll relating to the remaining property ("Direct Collect Property"), all as set forth in Exhibit "B;" and
WHEREAS, it is in the best interests of the District to permit the District Manager to amend the Assessment Roll adopted herein, including that portion certified to the County Tax Collector by this Resolution, as the Property Appraiser updates the property roll for the County, for such time as authorized by Florida law; and
WHEREAS, pursuant to that Budget Deficit Funding Agreement, dated August 23, 2018, in lieu of levying an increased amount of operations and maintenance assessments, the primary Landowner within the District has agreed to deficit fund the Adopted Budget to the extent the District's expenses for the Fiscal Year 2018/2019 exceed the amount of assessments collected to fund the Adopted Budget.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE DEER RUN COMMUNITY DEVELOPMENT DISTRICT:
SECTION 1. BENEFIT & ALLOCATION FINDINGS. The prov1s1on of the services, facilities, and operations as described in Exhibit "A" confers a special and peculiar benefit to the lands within the District, which benefit exceeds or equals the cost of the assessments. The allocation of the assessments to the specially benefitted lands is shown in Exhibits "A" and "B," and is hereby found to be fair and reasonable.
SECTION 2. ASSESSMENT IMPOSITION. Pursuant to Chapters 190 and 197, Florida Statutes, and using the procedures authorized by Florida law for the levy and collection of special assessments, a special assessment for operation and maintenance is hereby imposed and levied on benefitted lands within the District and in accordance with Exhibits "A" and "B." The lien of the special assessments for operations and maintenance imposed and levied by this Resolution shall be effective upon passage of this Resolution. Moreover, pursuant to Section 197.3632(4), Florida Statutes, the lien amount shall serve as the "maximum rate" authorized by law for operation and maintenance assessments.

SECTION 3. COLLECTION AND ENFORCE!VIENT; PENALTIES; INTEREST.
Tax Roll Assessments. The operations and maintenance special assessments and previously levied debt service special assessments imposed on the Tax Roll Property shall be collected at the same time and in the same manner as County taxes in accordance with the Uniform Method, as set forth in Exhibits "A" and "B."
Direct Bill Assessments. The operations and maintenance special assessments and previously levied debt service special assessments imposed on the Direct Collect Property shall be collected directly by the District in accordance with Florida law, as set forth in Exhibits "A" and "B." Assessments directly collected by the District are due in full on December 1, 20 18; provided, however, that, to the extent permitted by law, the assessments due may be paid in several partial, deferred payments and according to the following schedule: 50% due no later than December 1, 2018, 25% due no later than February 1, 2019 and 25% due no later than May 1, 20 19. In the event that an assessment payment is not made in accordance with the schedule stated above, the whole assessment - including any remaining partial, deferred payments for Fiscal Year 2018/2019, shall immediately become due and payable; shall accrue interest, penalties in the amount of one percent ( 1%) per month, and all costs of collection and enforcement; and shall either be enforced pursuant to a foreclosure action, or, at the District's sole discretion, collected pursuant to the Uniform Method on a future tax bill, which amount may include penalties, interest, and costs of collection and enforcement. Any prejudgment interest on delinquent assessments shall accrue at the rate of any bonds secured by the assessments, or at the statutory prejudgment interest rate, as applicable. In the event an assessment subject to direct collection by the District shall be delinquent, the District Manager and District
Counsel, without further authorization by the Board, may initiate foreclosure proceedings pursuant to Chapter 170, Florida Statutes, or other applicable law to collect and enforce the whole assessment, as set forth herein.

SECTION	ASSESSMENT ROLL.

Future Collection Methods. The decision to collect special assessments by any particular method - e.g., on the tax roll or by direct bill - does not mean that such method will be used to collect special assessments in future years, and the District reserves the right in its sole discretion to select collection methods in any given year, regardless ofpast practices.

SECTION 5. ASSESSMENT ROLL AMENDMENT.

The Assessment Roll, attached to this Resolution as Exhibit "B," is hereby certified for collection. That portion of the Assessment Roll which includes the Tax Roll Property is hereby certified to the County Tax Collector and shall be collected by the County Tax Collector in the same manner and time as County taxes. The proceeds therefrom shall be paid to the District.
The District Manager shall keep apprised of all updates made to the County property roll by the Property Appraiser after the date of this Resolution, and shall amend the Assessment Roll in accordance with any such updates,

for such time as authorized by Florida law, to the County property roll. After any amendment of the Assessment Roll, the District Manager shall file the updates in the District records.
SECTION 6. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.
SECTION 7. EFFECTIVE DATE. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board.
PASSED AND ADOPTED this 23rd day of August, 2018.

ATTEST:

Secretary I Assistant Secretary

DEER RUN COMMUNITY DEVELOPMENT DISTRICT

Chair, Board of Supervisors

Exhibit A: Exhibit B:

Budget
Assessment Roll (Uniform Method) Assessment Roll (Direct Collect)

SECTION VI 

THIS AGREEMENT

FISCAL YEAR 2018/2019 BUDGET DEFICIT FUNDING AGREEMENT BETWEEN DEER RUN COMMUNITY DEVELOPMENT DISTRICT AND D.R. HORTON, INC. - JACKSONVILLE

2018, by and between:

(the "Agreement") is made and entered into the 23rd day of August,

HORTON, INC. - JACKSONVILLE,

DEER RUN COMMUNITY DEVELOPMENT DISTRICT, a local unit of special­ purpose government established pursuant to Chapter 190, Florida Statutes, and located in the City of Bunnel, Florida whose mailing address is 1 35 W. Central Boulevard, Suite 320, Orlando, Florida 32801 (the "District"); and

Recitals

a Delaware corporation and the primary landowner in the District whose address is 4220 Race Track Road, Saint Johns, Florida 32259 (the "Landowner").

WHEREAS, the District was established pursuant to Chapter 190, Florida Statutes, for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure improvements including but not limited on-site and off-site roadways improvements, water and sewer utility improvements, stormwater management system, open space and right-of-way improvements, recreation amenities, public park and other infrastructure; and

WHEREAS,

WHEREAS,

the District, pursuant to Chapter 190, Florida Statutes, 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,

the District has adopted its operating budget for the Fiscal Year 20 18/20 19 (the "2019 O&M Budget"), which budget will commence on October 1, 2018, and conclude on September 30, 2019, a copy ofwhich is attached hereto as Exhibit A and incorporated herein by reference; and

WHEREAS,

Landowner is developing certain real property within the District and presently owns those lands identified in the District's Fiscal Year 201 8/20 19 Assessment Roll, attached to Exhibit A and incorporated herein by reference, which is located within the District and will benefit from the continued operations ofthe- District (the "Property"); and

WHEREAS,

following the adoption ofthe 2019 O&M Budget, the District has the option of levying non-ad valorem assessments on all land within its boundaries that will benefit from the activities, operations and services set forth in such budget (hereinafter referred to as the "O&M Assessment(s)"), or utilizing such other revenue sources as may be available to it; and
due to the nature of the ownership of the Property, the District is not able to predict with absolute certainty the amount of monies necessary to fund the District's activities, operations and services set forth in the 2019 O&M Budget; and

1

THEREFORE,

WHEREAS, in contemplation ofthe foregoing, and in lieu of levying an increased amount in O&M Assessments on the Property to fund the 2019 O&M Budget, the Landowner desires to provide the monies necessary to fund the actual expenditures for the Fiscal Year 201 8/20 19 (hereinafter referred to as the "O&M Budget Payment"), not otherwise funded by O&M Assessments levied upon other benefited lands located within the District.

SECTION	RECITALS.

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

SECTION	PAYMENT OF DISTRICT' S	BUDGET.

The recitals so stated are true and correct and by this reference are incorporated into and form a material part ofthis Agreement.
O&M
1.	Payment of O&M Budget Expenses. Upon the District Manager' s written request, the Landowner agrees to make available to the District the monies necessary to fund all expenditures of the 2018/2019 O&M Budget not otherwise funded through O&M Assessments levied upon other benefited lands located within the District, on a continuing basis, within fifteen (1 5) days of written request by the District. Funds provided hereunder shall be placed in the District's general checking account. In no way shall the foregoing in any way affect the District' s ability to levy special assessments upon the lands within the District, including the Property, in accordance with Florida law, to provide funds for any unfunded expenditures whether such expenditures are the result of an amendment to the District's 2019 O&M Budget or otherwise.

SECTION	CONTINUING LIEN.

11. Consent to Funding of 2019 O&M 13udget. The Landowner acknowledges and agrees that the O&M Budget Payment represents the funding of operations and maintenance expenditures that would otherwise be appropriately funded through O&M Assessments equitably allocated to the Property within the District in accordance with the District' s Assessment Methodology. Landowner agrees to pay, or caused to be paid, the O&M Budget Payment regardless of whether Landowner owns the Property at the time of such payment subject to the terms set forth in Section 10 herein. Landowner agrees that it will not contest the legality or validity of such imposition, collection or enforcement to the extent such imposition is made in accordance with the terms of this Agreement.
3.	The District shall have the right to file a continuing lien upon the Property described in Exhibit A for all payments due and owing under the terms of this Agreement and for interest thereon, and for reasonable attorneys' fees, paralegals' fees, expenses and court costs incurred by the District incident to the collection of funds under this Agreement or for enforcement of this lien, and all sums advanced and paid by the District for taxes and payment on account of superior interests, liens and encumbrances in order to preserve

2

Property owned by the Landowner.

and protect the District's lien. The lien shall be effective as ofthe date and time ofthe recording ofa "Notice ofLien for FY 2018/2019 O&M Budget" in the public records ofFlagler County, Florida, stating among other things, the description ofthe real property and the amount due as of the recording ofthe Notice, and the existence ofthis Agreement. The District Manager, in its sole discretion, is hereby authorized by the District to file the Notice ofLien for FY 20 18/20 19 O&M Budget on behalfofthe District, without the need offurther Board �ction authorizing or directing such filing. At the District Manager's direction, the District may also bring an action at law against the record title holder to the Property to pay the amount due under this Agreement, or may foreclose the lien against the Property in any manner authorized by law. The District may partially release any filed lien for portions of the Property subject to a plat if and when the Landowner has demonstrated, in the District's sole discretion, such release will not materially impair the ability of the District to enforce the collection offunds hereunder. In the event the Landowner sells any of the Property described in Exhibit A after the execution of this Agreement, the Landowner's rights and obligations under this Agreement shall remain the same, provided however that the District shall only have the right to file a lien upon the remaining

SECTION 4.	ALTERNATIVE COLLECTION METHODS.
1.		In the alternative or in addition to the collection method set forth in Section 3 above, the District may enforce the collection ofthe O&M Budget Payment(s) by action against the SPE in the appropriate judicial forum in and for Flagler County, Florida. The enforcement ofthe collection offunds in this manner shall be in the sole discretion ofthe District Manager on behalfofthe District. In the event that either 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 reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

SECTION	NOTICE.

11.	The District hereby finds that the activities, operations and services funded by the O&M Budget Payment(s) provide a special and peculiar benefit to the Property, which benefit is initially allocated on an equal developable acreage basis. The SPE agrees that the activities, operations and services that will be funded by the O&M Budget Payment(s) provide a special and peculiar benefit to the Property in excess ofthe costs thereofon an equal developable acreage basis. Therefore, in the alternative or in addition to the other methods of collection set forth in this Agreement, the District, in its sole discretion, may choose to certify amounts due hereunder as a non-ad valorem assessment on all or any part ofthe Property for collection, either through the Uniform Method ofCollection set forth in Chapter 197 or under any method ofdirect bill and collection authorized by Florida law. Such assessment, ifimposed, may be certified on the next available tax roll ofthe Flagler County property appraiser.
5.	All notices, payments and other communications hereunder ("Notices") shall be in writing and shall be delivered, mailed by First Class Mail, postage prepaid, or telecopied to the parties, as follows:

3

Ifto District:

With a copy to:

If to Landowner:

Deer Run Community Development District 135 W. Central Boulevard, Suite 320
Orlando, Florida 32801 Attn: District Manager
Hopping Green & Sams, P.A.
1 19 South Monroe Street, Suite 300
Tallahassee, Florida 32301 Attn: District Counsel
D.R. Horton, Inc. - Jacksonville 4220 Race Track Road
Saint Johns, Florida 32259
Attn: Robert Porter

SECTION	AUTHORITY.

SECTION 6. AMENDMENT. This instrument shall constitute the final and complete expression of the agreement between 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.

SECTION	ASSIGNMENT.

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 the requirements of law, and each party has full power and authority to comply with the terms and provisions ofthis instrument.

SECTION	DEFAULT.

This Agreement may not be assigned, in whole or in part, by either party except upon the written consent of the other, which consent shall not be unreasonably withheld.

described in Sections 3 and 4 above.

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 specific performance and specifically including the ability of the District to enforce any and all payment obligations under this Agreement in the matter

SECTION 10.	THIRD PARTY RIGHTS; TRANSFER OF PROPERTY.	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. In the event the Landowner sells or otherwise disposes of its business or of all or substantially all of its assets relating to improvements, work product, or lands within the District,

4

SECTION	APPLICABLE LAW AND VENUE.

including the Property, the Landowner shall continue to be bound by the terms of this Agreement and additionally shall expressly require that the purchaser agree to be bound by the terms of this Agreement. The Landowner shall give ninety (90) days prior written notice to the District under this Agreement ofany such sale or disposition.

SECTION	NEGOTIATION AT ARM'S LENGTH.

This Agreement and the prov1s1ons contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida. The parties agree that venue shall be in Flagler County, Florida.

SECTION	EFFECTIVE DATE.

This Agreement has been negotiated fully between 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.
The Agreement shall take effect as of August 23, 2018. The enforcement provisions of this Agreement shall survive its termination, until all payments due pursuant to this Agreement are paid in full.

[Signature pagefollows]

5

IN WITNESS WHEREOF, the parties execute this Agreement on the day and year first written above.

Attest:

Secretary/Assistant Secretary

Witness:

Witness

DEVERELROUPNMCENOTMMDIUSTNRITICYT

Chairperson, Board of Supervisors

D.R. HORTON, INC. - JACKSONVILLE, a Delaware corporation

Name: -------	------
Title: -	---	------	---

EXHIBIT A:	Fiscal Year 201 8/2019 O&M Budget & Assessment Roll

6

SECTION VI I

FPL Account Number: 32999541 01 FPLWork Request Number: 8228480

LED LIGHTING AGREEMENT

In accordance v.ith the follov,;ng tenns and. condillons, DEER RUN COMMUNITY DEVELOPMENT DISTRICT (hereinafter called the Customer), reques1s on this !! day of �. � ' from FLORIDA POWER & LIGHT COMPANY (hereinafter called FPL), a COIJ)Oralion organized and existing lllder the laws of the state of Florida, the following Installation or modification of lightilg facilities at (general boundaries) DECORATIVE LGTNGGolMewFairwary & Lakeside, located In §U.!!!!!!!, Florida.

lnstalallon and.'or removal of FPL-ov,,ned faciitles clesaibed as follows:

Wood

Pole Type

Poles
Existing Pole Count	# Installed
(Bl

# Removed	New Pole Count
(A+B.CI

S1anclard Conaete Standard Fiberglass
Decorative Concrete	17	17 
Decorative Fiberglass

Type

Underground Conductor
Existing Footage	Feet lnstaRecl
(Bl

Feet Removed	N- Footage
(C)	(A+B.CI

Under Pavement	N/A<1>
Not Under Pavement	2200
All new c:ondudor instaled is in condw.and billed a& Not Under Pavement

2200

Color

Fixtures 121

Existing

,

Fixture

New

•

Fbdure

Manufacturw	Walls	(LED Onl�

Type	Temperature
(HPSV,MV,LED)	LumeM
LED	Holophane	39	4990	3K

Style
Granville Black/8lack

Count (A)

Installed (B)  17 

Removed	Count
(C)	(A+B-C)
17

I

Cellllag of ,valable lildures ■nd the aaslgned bilng lierrateach can be viewed at www.fpl.c;cm/pal1nerlbulklenllighting.hlml
.....,....

Modlllcation to eiclstlng facililies olher than described abow (explain fuly): 	

That, for and in consideration ofthe C011enanls set forth herein, the parties hereto covenant and agree as follows: FPL AGREES:
To inslall or mocflfy the lighting facilities desaibed and identllied above (hereinafter caled the Lighting System), funishtotheCustomer the eledric energy necessary for lhe operation of Ille Lighting System, and furnish such Olher seruioes as are specified In Ins Agreement, an In ac;con:lance with the terms of FPL's wrrently effective 5� rale schedule on file at the Florida Public Service Commission (FPSC) or any sua:essive lighting rate schedule approved by !lie FPSC.

fflE CUSTOMER AGREES:

To pay a contribution in lhe amount of� prior lo FPL's initiating the requested instalation or modification.
To purchase from FPL al oftheelecll1cenergyused for the aperation ofthe Lighting Sys1em.

To be responsible for paying, Yllen due, all bills rendered by FPL pursuant to FPL's cunently effective lighting rate schedule on file at the FPSC or any successive fighting rateschedte approved by the FPSC, forfacililles and service prol.'ided in accordance with this agniement.
To provide access, final grading and, YAlell requested, good and sufficient easements, suitable construction drav,,ings showing the location of existing and proposed structures, identification of all non-FPL underground facilities within or near pole ortrench locations. and appropriate plat$ necessary for planning the deSign and completing the construction of FPL facilities associated with the Lighling System.
To pelform any clearing, compacting, removal of stumps or other obstructions that conflict with construction. and drainage of righls-of­ way or easememi required by FPL to aocommodale the lighting faalities.

IT IS MUTUALLY AGREED fflAT:

Modifications to the facilities pro,,1ded by FPL under this agreement, other lhan for maintenance, may only be made through the elCBCU!lon of an addltional lighting agreement delineating the modlftcations to be accomplished. Modification of FPL lighting facilities is defined as the followlng:

lheaddition of lighting faciHties:
Ille removal of lighting faciffties; and
Ille removal oflighting fact!Nies andthe replacement of such facilities with new facilities and/or additional facilities.

Modifications will be slbject to the costs identified in FPL's currently effective lighting rate schedule on file at the FPSC, or any successive schedule approved by the FPSC.

Lighting facilities will only be installed in locations that meet all applicable dear zone right-of.way setba<=lt requirements.
FPL wlll, al the request of Ille Customer, relocate the lighting facilities covered by this agreement, if provided sufficient right-of-ways or easements to do so and locations requested are consistent with dear zone right-of-way setback requirements. The Customer shall be responsible for 1he payment of au costs as&Ociated with any such Customer- requested relocation of FPL lighting fadlitieS. Payment shall be made by the Customer In advance of any relocaUon.

FPL may, at any lime, substitute for any luminaire installed hereunder another lumina.-e vnch shall be of at least equal illuminating capacity and efficiency.
This Agreement shaU be for a term of ten (10) years from the date of initiation of service, and, exceix as provided below, shall extend lhereafler for further successive periods of five (5) years from the expiration of the inltfal ten (10) year term or from the expiration of any extension thereof. The date of Initiation of seivtce Shall be defined as the date the first tights are energized and billing begins, not the date of this Agreement. Ths Agreement shall be extended automatically beyond the initial the (10) year term or any extension thereof, unless either party shaU have glwn \Mitten notice to the other of its desire to terminate this Agreement. The written notice shall be by
•�'''"

thercertieofiedf. mall and shall be given not less than ninety (90) days before the expiration of the initial ten (1O) year term. or any extension bInretahche eofventht ilsigAgreehting famcentiliti,esthecoveCusredtombeyrtshhisaagll bereeremespnont asreibleremforovedpay,ingeithtoerFaPtLtheanreaqmueousnt toef qthuealCtuso tthoemefixtur orret,hrpoougle,hatendrmcondinationuctoorr

charges for	period	ly active term of	plus the costtoremo11e the facilities.remaining on the current

the	seNice

electric energy or seivice until the Customer has paid the bll& dauewaainverd rendeof itsrrigedhotsr.has fuly ctRd such otherbreachof this Agreement.

coShnotuaildnedtheinCthusistomAgereemer fail tnot, psaayidaobligany biUtsiondsuebeiandng remndeateriredal apndursgouaingnt ttoo tthhise eagssreenceemenotf othir sotAheglWfreementse fail, tFoPpeL mrformay cetheaseobtoligsautpiopnlys
Aofnty faNurupplyie ofngFPoLfteloectexerriceiesnee irgyts rioghr tssehereiviceusndhaerll snhotalconsl nottbeitute a breach of this AgreeII ismundersent by tFoodPL,, hnowevor shaelrl, that such discontinuance

thehobe lsigation

lo pefform any of the terms and condition& of this Agreement.

it relieve the Customer of

prevented from compliance, apond FryPLosrhaenlltnireotshhaveut-dtownhe oblorgation to fumish service 11 11 iops l)re)lented from complying with this Agrery ement

15.  This Agreementpectsutopersedes el prwlous Agl'Nll'lents or representations, either written, oral, or otherwise betweengthe Customer and

ATghereemeoblignattbioynsttriokfurnies, losckh outsor p,ufirerchsa,srieostse,rviceacts sohf aGllodbe, lheexcuspubliced aetneamnyy,toimr ebythcaatueseithoerrcapausrteysisnoptreuvnednetredthefrcoomntcrooml opfltheyingpaIMlhrty ththuiss puyrpreoasseonoforefpaaniriynpgartoriaml,atkeming mraoreefficient all or any part ofserviceIts genewhk:hrating, ionrtohethesroleelectriincaiolneqoufipFmPeLn, tis.  reasonably necessa   for the

herein and constitutes the entire Agreement between the parties. This A reement does not

creFPLa,tev.tatnhyresrights or prtheovidfacilite anyiesremedrefereienceds   third parties or create any additional duty, obligation or undertakings by FPL tothird parties.
lo
beIn theasseigvenednt obyf the sale of the real property upon which theignfmenaeilitiet sshaarell reinlsietavelled, upon the written consent of FPL, this Agreement may

obligations have thbeee nCuassstoummeedr tobyththeePasurscighaneseera. ndNoagassreed to by FPL.

the Customer from Its obllgations hereunder IJ'ltil such

This Agreement shaD lrue to the benefit of, and be binding 14>0n the successors and assigns of the Customer and FPL.
The Hghting facHities shall remain the property of FPL in perpetuity.

Rules of the FPSC, as they are now �en. or as they may be hereafter revised. amended or SUPPiemented. In the event of any

cothenflict	is Agreement and	pr	pr

This Agreement Is subject to FPL's Electric Tariff, Including, but not timited to, the General Rules and Regulations for Eleclric Service and

Bectric betweeTariff andn theFPSteCrmRsuleofs tshhaN control. as they theare noowviSwrlonsitteno.fortheas FthePLy Electric Tariff or the FPSC Rules, the

ppleovisionS of the

may be hereafter revised, amended or su	mented.

of the day and year first written above.

represenIN WItatTiveNEs StoSbeWHeffectEREiveOFa,s the parties  hereby caused this  Agreement to be executed  in triplicate by their duly authorized

Charges and Terms Accepted:
DEECRuRstUomeN COr (PMriMnUt oNrItTYypeDnEameVELOPof O!MgEaNnTlzaDlioISTn)RICT

FLORIDA POWER & LIGHTCOMPANY

By:	R:?�Signatfi1n-�(Authoriz------"'ed Rl!l)res-entatvei  ) -

By.

ScC-"'t:-'_�_(Sig""'n·�ature-)   ----

Trtt e: _....::C-=-� ....:......:-' R.,

f¼A-

(Print or type name)
 	J	

Scot T(hrPrainptpor type name)
TiUe: ----�Sr,.,_. =Sa.., re.., s..., R=e..,p'-----------

,�..·""

SECTION VI 1 1

SECTION	C

SECTION 1

Deer Run
Community Development District
Summarv  of CheckRegister
May 14, 2018 to August 14, 2018

Fund	Date	Check No.'s	Amount

747.63

General Fund	5/ 18/18	862	$
5/30/18	863-866	$	6,405.73
6/1/18	867	$	47.78
6/4/18	868-872	$	8,650.36
6/18/18	873-874	$	2,481.76
6/20/18	875-878	$	7,929.87
7/2/18	879-881	$	11,723.35
7/6/18	882	$	3,844.40
7/9/18	883-886	$	3,118.99
7 /13/18	887	$	764.09
7/16/18	888-890	$	1,208.13
7/23/18	891	$	1,081.98
8/6/18	892	$	3,876.53
8/8/18	893-896	$	14,451.31
8/13/18	897	$	885.29

Payroll	M_ya    2017

$	67,217.20

Duane Owen	50064	$	200.00
Jan Doan	50065	$	184.70
Mark Dearing	50066	$	184.70
Robert Porter	50067	$	184.70
$	754.10
$	67,971.30 I

A*P* *300R	YEA*R* *-TO-DATE  ACCOUNTS  PAYABLE  PREPAID/COMPUTER  CHECK  REGISTER	RUN	8/14/18	PAGE	1

CHECK DATES 05/14/2018 - 08/14/2018 

DBANEEKR  ARUDNECEORDRU-NGECNOEDRAL  FUND

DATE

CHECK    VEND#	• • D• A• T• EINVOIINCEVO. I• C• E• •   • Y• R. EMXOPENDPSTEDATCOCT. #. . SUB	SUBCLASS 5/18/18 00027		5/07/18 49885-9 1 201 804 320-53800-43000 

VENDOR NAME

STATU*S

AMOUNT
747 . 63

A• M• O• U• NCHTECK • • #• • • 

- - - -

4-1 0- G-RA-ND-

R-E-SER-VE- D-R-#B- - -FL-ORIDA  POWER  &  LIGHT  COMPANY

*	- - - - - - - - - - - -7 4-7 -. 6-3  000862 

115 .56 000863 

5/30/18 00045 

5/30/18 00002 

5-/24 /-18-0M5E2 E4 2TI0N1G-8  M2 0IL-1E8A0G5E31 0- 5-1300 --4-2600 

-					JAN  DOAN-	-	- -	-	- -

-

- - -

-

- - - -

-

DU-ANE  OWEN

-

-

-

-

- - - - - -

FE-DEX

5/2-2 /-18   6 D--E1 L8 8IV--E9R6 Y-2 0-58/01 57 /32 01 01-8 51300 --4-2000 

*	-	- - - - -11 5- .56

-

-

- -

-

- -

*	-	- - - - -7 2- . 08

- - - - -

72 . 08 000864 

5/30/18 00048 

5/30/18 00042 

5/24/18  0M5E2 E4 T2 I0N1G8  M2I0L1E8A0G5E310-51300-42600 
-	- - -	- - -	- - -	-
5/31/18 214633	201 805 320-53800-46100 

*	- - - -

70.09

-

- -

- -	- - -
6, 148 .00

70 .09 000865 

- - - -

N-DS-CA-PE- C-ON-T-ING-EN-CY- - - -YE-LLOWSTONE  LANDSCAPE

*	- - - - - - - - - -

6, 148 . 00 000866 

- -		FLAGLER  COUNTY  TAX  COLLECTOR-	- - -		-

6/01/18 00044 

4/30/18  0T4A3X0 2C0O1M8M2IS0S1 8IO0N5S3 -0 0A-P2R0 71 800-10200 
-	- - - -	-	- - - - - -

*	- - -

47 .78
-	- - -

47 . 78 000867 

6/04/18 00035 

6/01/18 060	018 201 8 06 300 -207 0-10100 

FY1 8 DEBT ASMNT - DS2 0 0 8

DEER RUN COD C/0 REGIONS BANK

*	- - - - -

1, 827 . 58
- - - - -	1, 827.58 000868 

6/04/ 18  00007  .    5/29/18  0 11-0 0  G6R0A-ND2 0R1S8R0V4

43 2/01 -4 -543 8/ 30 0 -43100 

*	244 .48 

CITY OF BUNNELL

5/29/18  0 1 -0 00G6R0A-ND2 0R1S8R0V5  352/01 -5 /81 400-4 3100 

*	- - - - - -

2-4 4- . 4-9 -

- - -	-

- - - - - - - -	- -33-.5 9   000870 

488 . 97 000869 

6/04/18 00002 

6/04/18 00004 

6/04/18 00042 

5/29/18   6 D--E1 L9-6IV--E4R9Y2 058/0158 /31 81 0- 5-13 00- 4-2000 

- - - -		-	FE-DEX- - - - - - -	-

-	- -	-	HOPPING GREEN & SAMS

5/22/18   1A0U0 4D3IT7OR  L2T0R1 8/R0VW4   3A1 0UD- 5R1 E3 P00-31500 
-	- - -	- - - - -	- - - - - -
6/01/18 214710	201 806 320-53800-46000 
MTHLY LANDSCAPE MNT JUN18	YELLOWSTONE LANDSCAPE
DRUN DEER RUN	BPEREGRINO

33 . 59

*

*	559 . 50
- - - - - - - - - - - -5 -59 -. 5-0   000871 5,740 . 72
5, 740 . 72 000872 

BANK A DEER RUN COD

A*P* *30C0HRECK  DATES  05/14/2018  -  08/14/201Y8EA*R* -*TO-DATEDAEECRCORUUNNTSCOPADYA-BLGENEPRAELPAFIUDN/CDOMPUTER  CHECK  REGISTER	RUN    8/14/18 

PAGE	2

CHDAETCEK    VEND#	. . D• A• T. EINVOINCEVO• I. C. E. .   . Y. R. MEOXPEDNPSTEDATCOCT. #. . SUB	SUBCLASS  VENDOR  NAME

STATUS

AMOUNT

A. M. O• U• NCTHECK • . #• • • 

6/18/18 00027 

6/06/18 
6/06/18 

13496-61 201 805 320-53800-43000 
99 GRAND RESERVE DR #ENTR
3 D2E9C9O9R-A54TIV2 E01L8G0T5NG3 2#0 -OA5K3B8R0N0C-43000 

*	173 .36
*	582. 92

6/18/18 00027 

6/20/18 00051 

6/20/18 00043 

6/06/18  4 94 81 08 5G-RA91ND2 0R1E8 S0E5RV3E2 0D-R5 3#80B0-43000	*
6/06/18   6 81 05 808 -GRA2 1ND2 0R1 E8 S0E5RV3E2 0D-R5 3#8 E0N0 T-43000	*
FLORIDA POWER & LIGHT COMPANY

STREET  LIGHTNING  -  JUN   18

6/01/18 18 0 01614 2 0180 6 320 -5 3 80 0 -43000	*
FLORIDA POWER & LIGHT COMPANY

*

5/31/18   1A6Q9U9A3 T1 IC  M2G0M1T80 5SRV3C2 S0 -M5A3Y8 0108-47000	*

AQUATIC MGMT SRVCS MAY1 8 

5/31/18 169 9 3 2	2 0 180 5 320 -5 38 0 0 -47000 
APPLIED AQUATIC MANAGEMENT , INC .
6/12/18 1559809	201805 310-51300-3 1100	*

725 .6 1
97 . 87

902 . 00

110 .oo
1, 170. 00

575 . 00

1,579 .76 000873 

902 .00 000874 

1,2 80 .00 000875 

- - - - -INT-ER-IM- -SVC- /C-OO-R-BO-ND-

C- -DE-WBERRY  ENGINEERS   INC .

575 .00 000876 

6/20/18 00001 

6/01/18  2M0A8NAGEMEN2T01F8E0E6 S3J1U0N-51 18 300-34000 
6/01/18  2 I0N8FO  TECH2N0O1L8O0G6Y3J1U0N- 51 81300-35100 
6/01/18  2O0 F8 FICE  SU2 P0P1 L8 0IE6 S31 0-51300-51000 

*	2,5 00 .00
*	83 . 33
*	15 . 72 

6/01/18  2 P0O8STAGE
6/01/18  2C0O8 PIES

201806 310-51300-42000 
201806 310-51300-42500 

*	17 . 55
*	65 . 10

6/ 0-1/18  2F0 9IELD  MAN2A0G1E8ME06N-T3 2J0U-N5 31 800-12000 

*	1,2 50 .00

-	- - - - - - - - -

- - - - - -GO-VERNMENTAL  MANAGEMENT  SERVICES

3,931 .70 000877 

6/20/18 00042 

5/31/18  2W1A7 T5E0R5FAAL2 0T1 8IM0E5R3R2P0L-C53800-47200 
5/31/18  2W1A7T5E0R6FALL2 0P1U8M0P5  P3L2U0M-B5I3N8G00-47200 

*	336 . 00

*

*	200 . 00

6/01/18 214710A 20 1806 320-53800-46000 
-  - -  -  - - - - - - -  - M-T-HLY- L-AN-DSCAPE  MNT  JUN18	Y-ELLOWSTONE  LANDSCAPE

1,607 . 17

2, 143 .1 7 000878 

- - - - -  -  - - -	- - - - - - - - - - - - - -
DRUN DEER RUN	BPEREGRINO

A* *P3* 00R	YEA*R* -*TO-DATE  ACCOUNTS  PAYABLE  PREPAID/COMPUTER  CHECK  REGISTER	RUN	8/14/18	PAGE	3

CHECK DATES 05/14/2018 - 08/14/2018 

BDAEENRK  ARUDNECEDRDRU-NGECDNDERAL  FUND

- - - - - - - - - - - -

- - - - -BE-RGER, TOOMBS , ELAM, GAINES  &  FRANK

CHDAETCEK    VEND#	. . D. A• T• EINVOIINCEVO• I. C. E. •   • Y• R. EMXOPENDPSETDATCCOT. #. . SUB	SUBCLASS

VENDOR NAME

STATUS

AMOUNT

A• M. O• U• NCTHECK . .#. . . 

7/02/18 00046 

6/16/18  2F1 Y1 6157 3A7UDI2T0 1 S8E0R6 V3IC-1E0S-51300-32200 

*

-	-	- -	-

*

*	- - - - -

3,2 70.00 - - - - - -

-					HOPPING  GREEN  &  SAMS-	-	- - -	-	-		-

3, 270.00 000879 

7/02/18 00004 

6/25/18   1P0R1E0P18RVW2B0U1D8G0E5 T3/M1E0 E-T5I1N3G00-31500 

- - - - - - - - - -YE-LLOWSTONE  LANDSCAPE

-	-	-	- - -	-	- - -

1, 105 .46

- - -	-

- - - -

- - -	-	- - -1 -, 1-05 -. 46   000880 

7/02/18 00042 

7/ 06/18 00001 

7 -/ 01 /-18-2M-1 T9 H3L8-Y6  L-AN2D0 S1C8A0P7E3M2T0N-5J3U8L0 01-8 46000 

-

-

7/ 02/18  2M1A0NAGEMEN2T01F8E0E7 S3 J1U0L- 5181300-34000 
7/02/18  2 I1N0FO  TECH2N0O1L8O0G7Y3 J1U0L-51 81300-35 100 

*	- - - - -

**

*

*

7 , 34 7 .89

- - - - - -

7, 347 . 89 000881 
2,500 . 00
83 .33

7/ 02/18  2P1O0STAGE
7/02/18   2C1O0 PIES

201807 310-51300-42000 
201807 310-51300-42500 

18

1,2 50 .00

10 .89

-

-

- - - - - - - - - -GO-VERNMENTAL  MANAGEMENT  SERVICES

-

-

7/ 0-2/18-2F-1I1E-LD- M-AN2A0G1E8M0E7NT3 2J0U-L513 800-12000 

- - - - - -	-	- -3 -, 8-44 -.4 -0   000882 

7/09/18 00036 

5-/21/ 18  3A4 R4 B0-IT0R5A--GE-2 -0S-1E8 R0 5.   23 -10 085F-1Y3 0108 -- 3-12 0-0 

*	- - - - - - -45 0- .00	-	-

- - - - - -

- -	-	-

AMTEC

*	- - -

4-50 -. 00   000883 

7 /09/18 00051 

7/09/18 00007 

7/09/18 0002 7

7/13/18 00035 

6/30/18   1E7N0T5RA86NCE2P0O1N8D06JU3N2 01 8-53800-4 7QOO 

6/30/18 170587	201806 320-53800-47000 

-							CITY  OF  BUNNELL-	-	-	- -	-	-	- -

- - - - -17 -PO-ND-S---SV-C-JU-N-18- - - -A-PPLIED  AQUATIC  MANAGEMENT ,   INC . 6/28/18   0 1-0 00G6R0A-ND2 0R1 S8R0V5   352/01 -4 5-35 8/0301 -43100 
6/28/18  0 1 -0 00G6R0A-ND2 0R1S8R0V6  63 2/01--563/81 03 0-43100 

-	-	- -	- - -

-	- -	-	-	-	- -	-
7/01/18   1S8T0R0E1E6T38LI2G0H1T8I0N7G3-2 0J-U5L3 81 08 0-43000 
-	- -	- - -	- - - -	FL-ORIDA  POWER  &  LIGHT  COMPANY 7/11/18   0F7 Y1 128 0F1L8A2GL0 E1R8 0C7TY30-D0-S2 20 07 0 08 -10100 
DEER RUN COD C/0 REGIONS BANK
DRUN DEER RUN	BPEREGRINO

110 . oo

-	- - -	-	-	-

*	1, 170 . 00
- - - -	- -	1-, 280 -.0 0   000884 
*	275 .64

-	-	-	- -

*	21 1. 35
-	-	-	- - - -4 -86 -. 9 -9   000885 

- -	-	- -

*	902 . 00
- - - -	- - -	-	902 -. 0-0   000886 
*	764 . 09
764 .09 000887 

BANK A DEER RUN CDD

A*P* 3* 0 C0RHECK  DATES  05/14/2018  -  08/14/201Y8EA* R* *-TO-DATEDAEECRCORUUNNTSCPDADYA-BGLENEPRAEPLAFIUDN/CDOMPUTER  CHECK  REGISTER	RUN	8/14/18	PAGE	4

CHDAECTKE    VEND#	. . D. A. T. EINVOIINCEVO. I. C• E. .   . Y. R. MEXOPENDPSTEDATCCOT. #. . SUB	SUBCLASS

VENDOR NAME

STATU* S	AMOUNT

A. M• O• U. CNHTECK . . #. . . 

7/16/18 00044 

6/29 /-18   1T1AX  COMM2I0SS1 I8O0N6S 3J0U0N-2108 700-10200 

19 .98 

- -	- - - - - - - - - - - - - - -FL-AGLER  COUNTY  TAX  COLLECTOR

- - - - - - - - - -

19 . 98 000888 

7/16/18 00027 

6/06/18   6 81 50 08 8G-R2A1ND2 0R1E8S0E6RV3E2 0D-R5 3#8E0N0T-43000 
7/06/18 32999-54  201 806 320-53800-43000 

*	99 .2 8
582 . 87

- - - -

D-EC-OR-AT-IV-E-LG-TN-G-#O-A-KBR-NC- -FL-ORIDA  POWER  &  LIGHT  COMPANY

*	- - - - - - - - - - - -6 -82 -. 1-5   000889 

*

*

7/16/18 00042 

6/30/18 218995	201805 320-53800-47200 

506 .00

- - - -

F-OU-NT-A-IN-M-AIN-T-.   M-AY- 1-8  - - -YE-LLOWSTONE  LANDSCAPE

- - - - - - - - - - - -5-06 -. 0 -0   000890 

7/23/18 00027 

7/06/18   1 39 499G6R-AN61D2R0E1 S8E0R6VE3 2D0 -R5#3E8N0T0R-43000 
7/06 /-18   4 9481 08 5G-R9A1ND2 0R1 8E0SE6RV3E2 0D-R5 3#8 0B0-43000 

*	181. 10 
900.8 8

-	- - - - - - - - - - - - - - -FL-ORIDA  POWER  &  LIGHT  COMPANY

*	- - - - - - - - - - -1 -,0 -8 1-. 98-

000891 

8/06/18 00001 

8/01/18  2M1A2NAGEMEN2T0 1F8E0E8 S3A1U0G-1581300-34000 
8/01/18   2 I1N2FO  TECH2N0O1L8O0G8Y3A1 U0G- 51 81300-35 100 
8/01/18  2O1F2 FICE  S2U0PP1 L8 0IE8S 310-51300-51000 

2,500 .00

*

*	83 . 33

*

69

8/01/18  2P1O2STAGE
8/Ql/18   2C1O2 PIES

201 808 310-51300-42000 
201808  310-513 00-42500 

12 . 95

*

21 .3 0
*

8/01/18   2T1E2LEPHONE201808   310-51300-4 1000 
8/01/18 213	201808  320-53800-12000 

8. 26 
1,2 50 .00

- - - -

F-IE-LD-

M-AN-AG-EME-

U-G-18 - - -GO-VERNMENTAL  MANAGEMENT  SERVICES

*	- - - - - - - - - - -3 -, 8 -76 -. 5-3   000892 

8/08/18 00051 

7/31/18   1E7N1T0R1A7NCE2P0O1N8D07JU3L2 018-53800-47000 

110. 00 
*

7/31 /-18-1 -71 71 0P1O8NDS2-0 1S8V0C7  J3U2L0 -1 853800-47000 

1, 170 .00

000893 

- -	- - - - - - - - - - - - -A-PPLIED  AQUATIC  MANAGEMENT ,   INC .

*	- - - - - - - - - - -1-, 2-8 0-. 0-0

8/08/18 00007 

7/31/18   01 0-0 0G6RA0-ND2 0R1 S8R0V7   372/ 01--573/81030-43100 

*	351 . 92

7/31/18   0 1 -0 00G6R0A-ND2 0R1S8R0V6 

63 2/ 013--536 8/03 00 -43100 
CITY OF BUNNELL
DRUN DEER RUN	BPEREGRINO

466 . 50

818 .42 000894 

A*P* 3* 00R	YEA* R* -*TO-DATEDAEECRCOURUNNTSCDPADYA-BGLENEPRAELPAFIUDN/CDOMPUTER  CHECK  REGISTER	RUN	8/14/18 

PAGE	5

CHECK DATES 05/14/2018 - 08/14/2018 

BANK A DEER RUN COD

CDHAECTKE

VEND#	. . D• A. T. EINVOINCVEO. I. C. E. .   . Y• R. MEOXPENDPSTEDATCOCT. #. . SUB	SUBCLASS

VENDOR NAME	STATUS

AMOUNT

A. M. O. U. CNHTECK . . #. . . 

8/08/18 00043 

7/ 16/18   1C5O7O1R4 3R3PT2/S0P1U8P06EN3G0 0R-E1P3O1R0T0-10100 
7 -/16 /-18-1R-5E7U6 S1E3 6/PUM2P0 1S8I0TE6 /E3N0G0 -R1E3P1O0R0T-10100 

*	3,050 . 00
1, 955 . 00

-	- - - - - - - - - - - - -DE-WBERRY  ENGINEERS  INC .	*

5, 005 .00 000895 

*

8/08/18 00042 

8/01/18 222769	201808 320-53800-46000 

7, 347 .89

- - - -

M-TH-LY- L-AN-D-SCA-PE- M-TN-

G-1 -8

-YE-LLOWSTONE  LANDSCAPE

7, 347 . 89 000896 

8/13/18 00004 

7/27/18   1C0O1N6 F2 E3 R  PU2 D0 /1A8P0P6OV3A1L0 -S/5A1D3A00-31500	*
HOPPING GREEN & SAMS
TOTAL FOR BANK A
TOTAL FOR REGISTER

885 .29

67 ,2 17 .20
67, 217 .2 0

885 .2 9 000897 

DRUN DEER RUN	BPEREGRINO

SECTION 2

•	•	•	•	•	•	•	•	•	•	•

C·e : .• .• .• :e·'J

Deer Run
Community Development District
Unaudited Financial Reporting July 31, 2018

Gh4,S

Governmental
�anagement Semc:es

•	•	•	•	•	•	•	•	•	•	•	•	•	•	•

Table of Contents

Balance Sheet

General Fund

Settlement  Monitoring Fund

Debt Service Fund

Capital  Projects Fund

Month to Month

Long-Term Debt

Assessment  Receipt Schedule

ASSETS
CASH

DEER RU N
COMMUNITY DEVELOPMENT DISTRICT
COMBINED BALANCE SHEET
For The Period Ending July 31, 2018
GOVERNMENTAL FUND SETTLEMENT
GENERAL	MONITORING	DEBT SERVICE
$46,990	$18,750	----·---

TOTALS
(memorandum only)
CAPITAL PROJ ECTS	2018

----------

---------

$65,740

INVESTMENTS

----------

-------·-----	$21,283

------·--

$21,283

RESERVE

--------

$21-9--,1-3-9--

$219,139

REVENUE
CONSTRUCTION
DUE FROM GOLF COURSE DUE FROM CAPITAL

----------	----------

-------

----------

$8,903	--------

---$--1-0--8--

$108
$0
$8,903

--------

IToTAL ASSETS
LIABILITIES

$55,893	$18,750	$240,422

$108	$315,112 1

ACCOUNTS PAYABLE DUE TO GENERAL FUND

----------

$8,495

----------	----------

-------	-------

---------------

----------
$--3--,8--9--8-- 1.	$3,898

DUE TO OTH ER (TAX COLLECTOR) ACCRUED INTEREST PAYABLE

$0	----------	---------
$4,318,038

----------

$0
$4,318,038

ACCRUED PRINCIPAL PAYABLE
FUND EQUITY

UNASSIGNED	$47,398	$18,750	($4,912,616)	($3,790)	($4,850,258)	
IToTAL LIABILITIES & FUND EQUITY	$55,893	$18,750	$240,422	$108	$315,172 1	

FUND BALANCES

--------	-------	$835,000

-------	$835,000

1. $3898.00 DUE FROM NEW BONDS 2018 CAPITAL PROJECTS

$3,550

$740
$325

$374

$475

Deer Run
COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUND
Statement of Revenues & Expenditures For The Period Ending July 31, 2018
PRORATED BUDGET	ACTUAL
BUDGET	Thru 07/31/18	Thru 07/31/18	VARIANCE
REVENUES:
ASSESSMENTS/TRUSTEE CONTRIBUTIONS	
$182,971	
$182,971	
$182,462	
($509)	
GOLF COURSE LAKE MAINTENANCE CONTRIBUTIONS	$4,800	$4,800	$3,460	($1,340)	
DEFICIT FUNDING	$0	$0	$43,576	$43,576	
MISCELLANEOUS INCOME	$0	$0	$35		
TOTAL REVENUES	$187,771	$187,771	$229,533	$41,762	
EXPENDITURES:					
ADMINISTRATIVE					
SUPERVISOR FEES	$4,000	$2,000	$1,800	$200	
FICA EXPENSE	$306	$107	$107	$0	
ENGINEERING		$2,958	$800	$2,158	
DISSEMINATION	$2,500	$2,500	$2,500	$0	
ATTORNEY	$20,000	$16,667	$6,976	$9,691	
ANNUAL AUDIT	$3,270	$3,270	$3,270	$0	
TRUSTEE FEES	$3,500	$0	$0	$0	
ARBITRAGE	$600	$600	$450	$150	
ASSESSMENT ROLL	$2,500	$2,500	$2,500	$0	
MANAGEMENT FEES	$30,000	$25,000	$25,000	$0	
INFORMATION TECHNOLOGY	$1,000	$833	$833	$0	
TELEPHONE	$100	$83	$29		
POSTAGE	$600	$S00	$246	$254	
INSURANCE	$8,141	$8,141	$7,401		
PRINTING & BINDING	$800	$667	$342		
TRAVEL PER DIEM	$500	$417		$43	
LEGAL ADVERTISING	$500	$417	$0		
OTHER CURRENT CHARGES	$800	$667	$370	$297	
OFFICE SUPPLIES	$150	$125	$29	$96	
DUES, LICENSE, & SUBSCRIPTIONS	$175	$175		$0	
TOTAL ADMINISTRATIVE	$82,992	$67,626	$53,202	$14,424	
MAINTENANCE					
FIELD MANAGEMENT	$15,000	$12,500	$12,500	$0	
ELECTRIC	$23,000	$19,167	$21,230	($2,063)	
WATER & SEWER	$5,200	$S,941	($1,608)	
LANDSCAPE MAINTENANCE	$37,800	$31,500	$60,622	($29,122)	
LANDSCAPE CONTINGENCY	$6,000	$5,000	$11,267	($6,267}	
LAKE MAINTENANCE	$17,000	$14,167	$14,210	($43)	
WATER FEATURE MAINTENANCE	$0	$0	$8,417	($8,417)	
IRRIGATION REPAIRS	$2,000	$1,667	$840	$827	
CONTINGENCY	$570		$1,708	($1,233)	
TOTAL MAINTENANCE	$106,570	$88,808	$136,734	($47,926)	
TOTAL EXPENDITURES	$189,562	$156,435	$189,936	($33,501}	
EXCESS REVENUES (EXPENDITURES)	($1,791)		$39,597		
FUND BALANCE - BEGINNING	$1,791		$7,801		
FUND BAlANCE - ENDING	$0		$47,398		
	
2				

DEER RUN
COMMUNITY DEVELOPMENT DISTRICT

SETTLEMENT MONITORING FUND
Statement of Revenues & Expenditures For The Period Ending July 31, 2018

	SITTLEMENT MONITORING	PRORATEO BUDGET	ACTUAL		

REVENUES:	BUDGET	Thru 07/31/18	Thru 07/31/18	VARIANCE	
ENVIRONMENTAL MITIGATION CREDIT	$0	$0	$0	$0	

TOTAL REVENUES	$0	$0	
$0	$0	

EXPENDITURES:					
PERMIT MONITORING	$0	$0	$5,050	($5,050)	
TOTAL EXPENDITURES:	$0	$0			

EXCESS REVENUES (EXPENDITURES)	$0		
($5,050)		

FUND BALANCE • BEGINNING	$23,800		$23,800		
FUND BALANCE • ENDING	$23,800		$18,750		

3

DEER RUN
COMMUNITY DEVELOPMENT DISTRICT
DEBT SERVICE FUND
Statement of Revenues & Expenditures For The Period Ending July 31, 2018

	DEBT SERVICE BUDGET	PRORATED BUDGET
Thru 07/31/18	ACTUAL
Thru 07/31/18	
VARIANCE	
REVENUES:					
ASSESSMENTS - TAX COLLECTOR	$13,942	$13,942	$140,911	$126,969	
ASSESSMENTS - SPE (FORBEARANCE)	$681,361	$567,801	$0	($567,801)	
INTEREST	$0	$0	$1,602	$1,602	
OTHER REVENUE SOURCES	$3,185	$2,654	$0	($2,654)	
TOTAL REVENUES	$698,488	$584,397	$142,513	($441,883)	

EXPENDITURES:					
INTEREST EXPENSE 11/01	$281,744	$281,744	$308,431	($26,688)	
PRINCIPAL EXPENSE 05/01	$135,000	$135,000	$135,000		
INTEREST EXPENSE 05/01	$281,744	$281,744	$308,431	($26,688)	
TOTAL EXPENDITURES	$698,488	$698,488	$751,863	($53,375)	

EXCESS REVENUES (EXPENDITURES}	$0		($609,349)		
FUND BALANCE - BEGINNING	$0		($4,303,266)		

FUND BALANCE - ENDING	$0		($4,912,616)		

4

DEER RUN
COMMUNITY DEVELOPMENT DISTRICT
CAPITAL PROJECTS FUND - SERIES 2008
Statement of Revenues & Expenditures For The Period Ending July 31, 2018

CONSTRUCTION FUND BUDGET

PRORATED BUDGET
Thru 07/31/18

ACTUAL
Thru 07/31/18

VARIANCE

REVENUES:

TOTAL REVENUES	$0	$0	
$1	
$1	
EXPENDITURES:					
CAPITAL OUTLAY	$0	$0	$0	$0	

TOTAL EXPENDITURES	$0	$0	$0	$0	
FUND BALANCE · BEGINNING	$0				

FUND BALANCE • ENDING	$0		
($3,790)		

INTEREST
-

$0	$0

$1	$1

5

RMNUES:

Deer Run
Community Development District
i5cr	NOV	DEC	JAN	FEB	MAR	APR	MAY	JUN	JU[	AUG	SEPT	TOTAL

$335

�S0.670

GOLF COURSE LAKE MAINTENANCE CONTRIBUTION	$780

$335	$335	$0	$670	$0	$0	$1,005	$0	$0	$D

DEFICIT FUNDING	$0	$0	$0

$0	$0	$0	$0

$D	$0	$35	$0	$0	$0

ASSESSMENTS/TRUSTeE CONTRIBUTIONS	$71,424	$D	$36,106	$197	$D	$S0,000	$2,582

MISCELLANEOUS INCOME	$0	$D	$0	$0

11mu. REVDI\JU	I	�n.-	J335	J36,441	�32	so

$21,424	$215	$D	$0	$182,462

$43,576

$0	$D	$0	$43,S76

$3,460

$35

�9	566,005	5215	so	so	5229,533j

EXPl:NDfTURES:
ADMINISTRA11VE
SUPERVISOR FEES	$1,000	$0	$0	$0	$0	$0	$0	$800	$0	$0	$0	$0	$1,800

$575

FICA EXPENSE	$61	$0	$0	$0	$0	$0	$0	$46	$0	$0

$0	$107

ENGINEERING	$0	$0	$0	$225	$0	$0	$0

$0	$0	$0	$0	$800

DISSEMINATION	$2,SOO	$0	$0	$0
ATTORNEY	$4,169	$118	$D	$114	$0

$0	$0	$0

$25

$S60	$1,10S

$0	$0	$0	$2,SOO
$0	$0	$0	$6,976

ANNUAL AUDIT	$0	$0	$0	$0	$0	$0	$0	$0	$3,270	$0	$0	$0	$3,270

TRUST!£ FEES	$0	$0	$0	$0
ARBITRAGE	$0	$0	$0	$0	$0

$0	$0	$0	$0	$0	$0	$0	$0
$0	$4SO	$0	$0	$0	$0	$4SO

$2,500

$2,500

ASSESSMENT ROLl	$2,SOO	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$2,500

MANAGEMENT FEES	$2,S00	$2,S00

$2,SOO	$2,SOO	$2,500	$2,500	$2,500

$0	$0	$25,000

$29

$29

COMPUTER TIME	$83	$83	$83	$83	$83	$83	$83	$83	$83	$83	$0	$0	$833
TEl£PHONE	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

POSTAGE	$33	$5	$11	$3	$29

$4	$111	$18	$0	$0	$0

INSURANCE	$7,401

$0	$0	$0	$0

$0	$0	$0	$0	$0	$7,401

PRINTING & BINDING	$99

$1	$73	$40	$0	$1

$11	$0	$0	$342

$65

TRAVEL PER DIEM	$188	$0	$0	$0	$0	$0	$0	$186	$0	$0	$0	$0	$374

$23

LEGAL ADVERTISING	$0	$0	$0	$0	$0	$0	$0	$0	$0

$D	$D	$0

DllfER WRRENT OiARGES	$24	$25

$15	$88	$36	$40	$36	$41	$41	$D	$0	$370

OFFICE SUPPLIES

$8	$1

$0	$0

$16	$D

$0	$29

DUES, UCENSES & SUBSCRIPTIONS

$175

$0	$0	$0	$0	$0

TOTALADMINl57RA1111!'	I	$10?65	$2,786	$2,619	!�947	$2,774	$2,717

$0	$0	$0	$0	$D	$175

$5,894

$2,635

$0	$53.202I

MAl�NANCE

FIELD MANAGEMENT	$1,250	$1,250	$1,2SO	$1,250	$1,250	$1,2SO	$1,2SO	$1,250	$1,2SO	$1,2SO

$0	$12,500

ELECTAIC	$2,138	$1,806	$1,789	$1,951	$2,511	$2,SOB	sz.•n	$2,482	$2,666	$902	$0	$0	$21,230

$5,741

$5,741
$2,605

WATER& SEWER	$564	$754	$1,023	$360	$618	$519	$520	$678	$352	$0	$0	$5,941

IANOSCAPE MAINTENANCt:	$S,741	$5,741	$5,741

$5,741	$7,348

$0	$0	$60,622

LANDSCAPE CONTINGENCY	$0	$0	$0	$0	$2,514	$0	$6,148	$0	$0	$0	$0	$11,267

$8,417

lAKE MAINTENANCE	$2,690	$1,280	$1,280	51,280	$945	$1,615	$1,280	$1,280	$1,280	$1,280	$0	$0	$14,210

WATER FEATIJRE MAINTENANCE	$0	$0	$0	$1,948	$2,723

$1,467	$1,042

$0	$0	$0

I

IRRIGATION  REPAIRS	$840	$0	$0	$D		$0	$0	$0	$0	$0	$0	$0	$0		$840 CONTINGENCY		$0	$8	$0	$0	$1,700	$0	$0	$0	$0	$0	$0	$0	$1,708

($15,1361

TOTAL MAINTENANCE	$13,222	$10,840	$11,083	$12,722	$17,744	$12,462	$1s,33g	$18,463	$13,728	$11,132	$0	$0	$136,7341

TOTAL EXPENDITURES	L_	533,988	$131626	$13,702	$15,669	$20,518	$15,179	$18,526

V1CESS REVEM/ES (EXPENOITIJRH)	I

rsu,2911	$22,739

$24, 356

$20,606	$13,767

$0

!$20,518)	$35,491	($15,945)	!$23,807)	$45,399	1su.ss21	$0	$0

6

Deer Run
Community Development District
LONG TERM DEBT REPORT

INTEREST RATE: MATURITY DATE:
RESERVE FUND DEFINITION

SERIES 2008, SPECIAL ASSESSMENT BONDS

7.625%
5/1/2039
MAXIMUM ANNUAL DE BT SERVICE

RESERVE FUND REQUIREMENT RESERVE FUND BALANCE
BONDS OUTSTANDING - 9/30/13 LESS: PRINCIPAL PAYMENT 5/1/14 LESS: PRINCIPAL PAYMENT 5/1/15 LESS: PRINCIPAL PAYMENT 5/1/16 LESS: PRINCI PAL PAYMENT 5/1/17 LESS: PRINCIPAL PAYMENT 5/1/18
CURRENT BONDS OUTSTANDING

$717,981
$21,283

$8,090,000
$0
$0
$0
$0
$0
$8,090,000

7

DEER RUN
COMMUNITY DMLOPMENT DISTRICT SPECIAL ASSESSMENT RECEIPTS • FY2018 TAX COLLECTOR
Gross Assessments  $
Net Assessments  $

191,320     $
179,841    $

41,983   $
39,464    $

149,337
140,377
2008

Date
Received	Check#
1 2/8/17	55471
1 /8/18	55520
4/1 7/18	56141
5/17/1 8	56367
7/5/18	56570
Totals

Gross Assessments Received

s

$	1 67,897.51 $

s

$	91 7.63
12,005.09   $
$	2,389.15   $
$	998.88     $
$	1 84,208.26   $

Discounts/	Commissions	Interest	Net Amount	General Fund Debt Svc Fund Penalties		Paid	Income		Received		21.94"	78.06%

s

$	3,357.95    $	$  1 64,539.56    $   36,1 06.27   $  1 28,433.29
$	18.35   $	899.28    $	1 97.34   $	701.95

s

$	240.1 0    $	$  1 1 ,764.99    $  2,581 .69    $	9,1 83.30

s

$	47.78    $	$	2,341.37   $	51 3.79	1 ,827.58
$	1 9.98	$	978.90    $	21 4.81   $	764.09
$	3,684.16   $	$  1 80,524.1 0    $   39,61 3.89   $ 140,910.22

Total 100%
$ 164,539.56
$	899.28
$     1 1 ,764.99
$	2,341.37
$	978.90
$ 1 80,524.10 

DIRECT ASSESSENTS
DR HORTON INC - JACKSONVILLE			$695,271.22	$142,848.12	$S52,423.09 DATE	DATE	Check	NET AMOUNT NET AMOUNT GENERAL FUND S£RIE5 2008
RECEIVED	DUE	Num	ASSESSED	RECEIVED
1 0/23/1 7	10/1/17	656522	$173,817.80	$35,712.03	$35,712.03	$0.00
1 0/23/1 7	1/1/18	656522	$173,817.80	$35,712.03	$35,712.03	$0.00
3/27/18	4/1/18	724093	$173,817.80	$35,712.03	$35,712.03	$0.00
6/1 4/1 8	7/1/18	759393	$173,817.80	$35,712.03	$35,712.03	$0.00
$695,271.20	$142,848.12	$142,848.12	$0.00
TOTALASSESSMENTS    $ 1 82,462.01    $  1 40,91 0.22

8

Total
$35,712.03
$35,712.03
$35,712.03
$35,712.03
$142,848.12
$  323,372.22

SECTION 3

NOTICE OF MEETINGS DEER RUN
COMMUNITY DEVELOPMENT DISTRICT

The Board of Supervisors of the Deer Run Community Development District will hold their regularly scheduled public meetings for Fiscal Year 2019 at 3:00 pm at the Government Services Building, 1 769 E. Moody Blvd., Bunnell, FL 32110 on the fourth Thursday of the following months:

Exception: November 29, 2018
January 24, 2019
May 23, 2019
August 22, 2019

The meetings are open to the public and will be conducted in accordance with the provisions of Florida Law for Community Development Districts.  A copy of the agenda for a particular meeting may be obtained from the District Manager at 135 W. Central Blvd., Suite 320, Orlando, FL 32801.

The meetings may be continued to a date, time, and place as evidenced by motion of the majority of Board Members participating at the meeting. There may be occasions when one or more Supervisors, staff or other individuals will participate by speaker telephone.

Any person requiring special accommodations at the meetings because of a disability or physical impairment should contact the District Office at (407) 841-5524 at least forty-eight (48) hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service 1 -800-955-8770, for aid in contacting the District Office.
Each person who decides to appeal any action taken at these meetings is advised that person will need a record of the proceedings and that accorctingly, the person may need to ensure that a verbatim record of the proce dings is made, including the testimony and evidence upon which such app al is to be based.

George S. Flint
Governmental Management Services - Central Florida, LLC District Manager

SECTION 4

This item will be provided under separate cover