Doc# 2008078640. OR BK 14438 Page 1219.

Number Pages. 13
Filed & Recorded 03.28,2008 at 0945 AM.

JIM FULLER CLERK CIRCUIT COURT DUVAL

COUNTY

RECORDING $112 00

This Instrument Prepared by and return to:

Cheryl G. Stuart, Esq.

Hopping, Green & Sams, P.A.

123 South Calhoun Street

Tallahassee, Florida 32301

DISCLOSURE OF PUBLIC FINANCING AND MAINTENANCE

OF IMPROVEMENTS TO REAL PROPERTY UNDERTAKEN BY

THE OTC COMMUNITY DEVELOPMENT DISTRICT

Board of Supervisors 1
OTC Community Development District

David Murphy	Jose Borrego	
Chairman	Assistant Secretary	
Tom Hareas	Rachel Wein	
Vice Chairman	Assistant Secretary	
Joan Silves		
Assistant Secretary		

District Manager

Governmental Management Services, Inc.

14 785 St. Augustine Road, Suite 4

Jacksonville, Florida 32258

(904) 288-9130

District records are on file at the offices of the District Manager, 14785 St. Augustine Road, Suite 4, Jacksonville, Florida 32258. District records are available for public inspection upon request during normal business hours.

This list reflects the composition of the Board of Supervisors as of March 11, 2008. For a current list, please call the District Manager, above.

TABLE OF CONTENTS

Introduction	1

What is the District and how is it governed?	2

What infrastructure improvements does the

District provide and how are the improvements paid for?	3

Transportation Improvements	3

Water & Sewer Improvements	4

Stormwater Management Facilities	4

Signalization	4

Assessments, Fees, and Charges	5

Method of Collection	6

Introduction

On behalf of the Board of Supervisors of the OTC Community Development District (the "District"), the following information is provided to give you a description of the District's services, the assessments that have been levied within the District to pay for certain community infrastructure and the manner in which the District is operated. The District is a unit of special purpose local government created pursuant to and existing under the provisions of Chapter 190, Florida Statutes. Unlike city and county governments, the District has only certain limited powers and responsibilities. These powers and responsibilities include, for example, certain storm water management and drainage control facilities that serve the Oakleaf Town Center shopping center (the "Shopping Center").

Under Florida law, community development districts are required to take affirmative steps to provide for the full disclosure of information relating to the public financing and maintenance of improvements to real property undertaken by such districts. The law specifically provides that this information shall be made available to all persons currently owning land within the District and to all prospective District landowners. The following information, describing the District and the assessments, fees and charges that are anticipated to be levied within the District to pay for certain community infrastructure serving the Shopping Center, is provided to fulfill this statutory requirement.

The District is here to serve the needs of the Shopping Center landowners and the community and we encourage your participation in District activities.

What is the District and how is it governed'?

The District is an independent special taxing district, created pursuant to and existing under the provisions of Chapter 190, Florida Statutes, and was established by Ordinance No. 2006-1198, enacted by the consolidated government of Duval County and the City of Jacksonville, Florida on December 6, 2006. The District currently encompasses approximately 99 .41 acres of land located entirely within the jurisdictional boundaries of the City of Jacksonville, Duval County, Florida. The legal description of the lands that encompass the District is attached hereto as Exhibit "A". As a local unit of special-purpose government, the District provides an alternative means for financing, acquiring, operating and maintaining various public improvements and community facilities.

The District is governed by a five-member "Board of Supervisors," (alternatively, the "Board"), the members of which must be residents of the State of Florida and citizens of the United States. Within ninety (90) days of appointment of the initial Board of Supervisors, members were elected on an at-large basis by the owners of property within the District (the "Landowner(s)"), each Landowner being entitled to one vote for each acre of land with fractions thereof rounded upward to the nearest whole number. Thereafter, elections for the Board of Supervisors are held every two (2) years in November. There are currently no residential uses located in or planned for the lands within the District. However, in the event there are ever any residential uses authorized and residential units are constructed, then commencing six (6) years after the initial appointment of the Board of Supervisors and when the District attains a minimum of two hundred and fifty (250) "Qualified Electors," the positions of two members of the Board of Supervisors whose terms are expiring would be filled by Qualified Electors of the District. A "Qualified Elector" in this instance is any person at least eighteen ( 18) years of age who is a citizen of the United States, a legal resident of Florida and of the District, and who is also registered with the Supervisor of Elections to vote in Duval County. The remaining Board member whose term is expiring shall be selected by Landowners within the District and is not required to be a Qualified Elector. Thereafter, as terms expire, Board members would be Qualified Electors elected by Qualified Electors of the District for a term of four years. If there are fewer than two hundred and fifty (250) Qualified Electors at the six-year mark, then elections will continue on a one-acre, one-vote basis until that threshold is reached, if ever. Notwithstanding the foregoing, if at any time the Board proposes to exercise its ad valorem taxing power, it shall, prior to the exercise of such power, call an election at which all members of the Board shall be elected by Qualified Electors of the District.

Notices of Board of Supervisor meetings are published in the local newspaper and are conducted in a public forum in which public participation is permitted. Consistent with the State of Florida's public records laws, the records of the District are available for public inspection during normal business hours at the office of the District Manager at the address set forth on the first page of this Disclosure. Elected members of the Board of Supervisor are similarly bound by the State of Florida's open meetings law and are subject to the same disclosure requirements as other elected officials under the State of Florida's ethics laws.

2

What infrastructure improvements does the

District provide and how are the improvements paid for?

The District currently consists of approximately 99.41 acres of land located in the City of Jacksonville, Duval County, Florida near the intersection of Argyle Forest Boulevard and Old Middleburg Road. Current development plans for the District include construction of approximately 790,924 square feet of retail development. The public infrastructure necessary to support the development program within the District includes, but is not limited to, transportation improvements, water and sewer facilities, stormwater management facilities and signalization improvements. Each of these infrastructure improvements is more fully detailed below.

To plan the infrastructure improvements necessary for the District, the District adopted an Engineer's Report (the "Improvement Plan"), which details all of the improvements contemplated for the completion of the infrastructure of the District. Copies of the Improvement Plan are available for review at the office of the District Manager at the address set forth on the first page of this Disclosure.

These public infrastructure improvements are funded in part by the District's sale of bonds. On March 27, 2007, the District issued $9,770,000.00 of its OTC Community Development District Special Assessment Bonds, Series 2007 A ("Series 2007 Bonds") for the purpose of: (1) financing the cost of acquiring, constructing, and equipping certain infrastructure improvements (described below); (2) paying certain costs associated with the issuance of the Series 2007 Bonds; (3) making a deposit into the Series 2007 A Reserve Account for the benefit of the Series 2007 Bonds; and ( 4) paying a portion of the interest to become due on the Series 2007 Bonds.

Transportation Improvements

The District has financed the construction of certain transportation facilities within the District, including the design, permitting, and construction necessary for all work. These transportation improvements have been conveyed to, and are maintained by, the City of Jacksonville upon acceptance and completion. The transportation improvements include:

Merchants Way

Approximately 1,100 linear foot entrance road consisting of a four-lane, curb and gutter median roadway and associated drainage on the westerly edge of the District's property, including a traffic rotary.

Merchants Way Extension Improvements

Approximately 400 foot extension of Merchants Way continuing the road north with the same four-lane curb and gutter median section and associated drainage.

Old Middleburg Road Widening

3

Adding two additional travel lanes to approximately 1,700 feet of Old Middleburg Road. Milling and resurfacing approximately 360 linear feet of existing roadway.

Water

&

Argyle Forest Boulevard Improvements		
An approximately 2,400 linear feet	of improvement to Argyle Forest Boulevard	
consisting of adding tum lanes and modifying the median opening of the existing	
roadway.		
Sewer Improvements		

The sanitary sewer system improvements consist of a pump station and 8" forcemain as	
required to serve the District and an 8-inch trunk main within the Merchants Way right-of-way.	
The water system improvements consist of a 1O" and 8" main loop line connecting an existing	
16" main on Old Middleburg Road through the District and a 10" main within Merchants Way	
right of way connecting to an existing 20" main in Argyle Forest Blvd.  required to  serve the	
District and as required by the 'JEA'.	Upon completion and acceptance, the JEA will perform	
the operation and maintenance for these improvements.	
Stormwater Management Facilities		
The stormwater management facilities provide water quality, water treatment and flood	
control measures for all of the property within the District.  The facilities consist of treatment	
ponds, equalizer pipes and control structures.  Upon completion of these facilities, the District	
will  be  responsible  for  their  operation  and  maintenance.   The  District  may  or  has  already	
contracted with the property management company to provide operation and maintenance for the	
treatment ponds.		
Signalization		
The signalization improvements consist of two traffic signals including mast arms, traffic	
loops,  fiber  optic  cables  and  pedestrian  detectors.   One  is  installed  at  an  entrance  to  the	
development  along  Old  Middleburg  Road,  and  the  other  at  an  entrance  along  Argyle  Forest	
Boulevard.Improvements  also  include  modifications  made  to  two  signals,  one  at  the	
intersection of Old Middleburg Road and Argyle Forest Blvd., and the other at the intersection of	
Merchants Way and Argyle Forest Blvd.  The City of Jacksonville is responsible for performing	
operation and maintenance of these completed and accepted improvements.	

4

Assessments, Fees, and Charges

The  costs	of  acquisition  or  construction	of	
improvements have  been financed  by the  District through	
Bonds, Series 2007A, in the amount of $9,770,000.00.  The	
2007 Bonds is attached hereto as Exhibit "B."		

a	portion	of	these  infrastructure	
the  sale of	its	Special Assessment	
amortization schedule for the Series	

The annual debt service payments, including interest due thereon, for the Bonds are payable solely from and secured by the levy of non-ad valorem or special assessments against lands within the District which benefit from the construction, acquisition, establishment and operation of the District's improvements. The schedule of annual debt service obligations of a particular parcel which must be defrayed by the annual assessments will depend upon the square footage of the property assessed. Provided below are the current maximum annual debt assessment levels for the Series 2007 Bonds by land use. Interested persons are encouraged to contact the District Manager at the address set forth on the first page of this Disclosure for infonnation regarding special assessments on a particular parcel of land. A copy of the District's assessment methodology and assessment roll are available for review in the District's public records at the office of the District Manager.

The current maximum annual debt assessment for

the

Series 2007

Bonds is

as

follows:

Land Use	Maximum Annual			
	Debt Assessment			
				
Retail	$0.9589 per square foot			
Note: The maximum annual debt assessment per unit is grossed up to include 2% for costs	of		
collection and the 4% maximum discount for early payment authorized by Florida law.			
The  amounts  described  above  exclude  any  operations  and  maintenance  assessments		
("O&M Assessments") which are determined and calculated annually by the District's Board of		
Supervisors and are levied against all benefited lands in the District.			
A detailed  description  of	all  costs  and  allocations  which  result  in the  formulation	of		
assessments, fees and charges is available for public inspection upon request.			
The District may undertake the construction, acquisition, or installation of other future		
improvements and facilities, which may be financed by bonds, notes or other methods authorized		
by Chapter 190, Florida Statutes.				

5

Method of Collection

The District's O&M Assessments may appear on that portion of the annual real estate tax bill entitled "non-ad valorem assessments," and may be collected by the Duval County Tax Collector in the same manner as are county ad valorem taxes. Each property owner subject to the collection of special assessments by this method must pay both ad valorem and non-ad valorem assessments at the same time. Property owners will, however, be entitled to the same discounts as provided for ad valorem taxes. As with any tax bill, if all taxes and assessments due are not paid within the prescribed time limit, the tax collector is required to sell tax certificates which, if not timely redeemed, may result in the loss of title to the property. The District may also elect to collect the assessment directly.

The debt service assessments for the Series 2007 Bonds are or may also be collected by the Duval County Tax Collector in the same manner as are Duval County ad valorem taxes. As indicated above, each property owner subject to the collection of special assessments, including debt service assessments, by this method must pay both ad valorem and non-ad valorem assessments at the same time. Property owners will, however, be entitled to the same discounts as provided for ad valorem taxes. As with any tax bill, if all taxes and assessments due are not paid within the prescribed time limit, the tax collector is required to sell tax certificates which, if not timely redeemed, may result in the loss of title to the property.

This description of the District's operation, services and financing structure is intended to provide assistance to landowners and purchasers concerning the important role that the District plays in providing infrastructure improvements essential to the development of new communities.

If you have questions or would simply like additional information about the District, please write to: District Manager, OTC Community Development District, 14785 St. Augustine Road, Suite 4, Jacksonville, Florida 32258 or call (904) 288-9130.

6

IN WITNESS  WHEREOF,  this  Disclosure  of Public  Financing  and  Maintenance  of

Improvements  to  Real  Property  Undertaken  has  been  executed  as  of  the  __21i day  of

____,_tJ~A:~Q o,\	, 2008, and recorded in the Official Records of Duval County, Florida.

fi)~&ls.~
W tn  ss

Judie K. Glenn

Print Name	Print Name

STATE OF FLORIDA
COUNTY OF --------

The	foregoing	instrument	was   acknowledged	before	me	this	Zo	day   of	
fv! f3 ;zcH		, 2008,  by  David  Murphy,  Chairperson	of	the	OTC  Community	
Development	District,	who  [ ~s	personally  known	to  me	or	who  [  ]  has	produced	
-------------- as identification, and did	[	] or did not  [	] take the	
0 at h.										

,,,i)',$:•'~/./1,,,  MICHELLE M. MCINTOSH
-"i'·"   "¥,

:•: ·.•: MY COMMISSION # DD709960 :.t.,. ,~'= EXPIRES August 29, 2011
(407) ,398-~153	FlorldaNolal)'Servlce.com

Notary Public, State _of Florida
Print Name:   t-.,ll~ELLE  H . Mc I NTbSH
Commission No.: ------------
My Commission Expires: _________

7

	EXHIBIT A	
Robert M.	Angas Associates, Inc.	
land		
Surveyors, Planners and Civil Engineers	
	Since 1924	
January 8, 2007		

14775 St. Augustine Road

Jacksonville, FL 32258

Tel: (904) 642-8550

Fax: (904) 642-4165

W.O. No. 2006-33 .04

								OTCCDD					
A portion of Sections 31 and 32,	Township 3 South, Range 25 East, said Section 32 also		
being  a portion of							
	Jacksonville  Heights,  as	recorded in  Plat Book 5,  page 93  of the		
current Public Records	of	Duval County, Florida,  also  being a portion of those  lands		
described and recorded in Official Records Book 7546, page 1491, said Public Records,		
also being all	of those lands described and	recorded in Official Records Book 13094,		
page 1133, said Public							
	Records, also being all	of those lands described and recorded in		
Official  Records  Book  13094,  page  1211,  said  Public  Records  and  being  more		
particularly described as follows:								
For a Point	of	Reference, commence at the intersection	of the centerline of Branan Field /		
Chaffee Road, a variable width limited access right	of	way, with the centerline of Argyle		
Forest Boulevard,  a	variable width limited access right of way, both as shown on the		
Florida Department of Transportation Right of Way Map, Section 72016-2501; thence		
South 89°27'34" East, along said	centerline of Argyle Forest Boulevard, 1635.97 feet to a		
point lying on the Easterly					
	terminus of said Argyle Forest Boulevard; thence continue		
South  89°27'34"  East,  departing  said  Easterly  Terminus  and  along  the  centerline  of		
Argyle Forest	Boulevard, a 200 foot right of	way as presently established, a distance of		
146.17 feet; thence North 00°32'26" East, departing said centerline, 100.00 feet to a point		
lying on the	Northerly right of way line of said Argyle Forest Boulevard, and the Point of		
Beginning.			
														
From said Point of Beginning, thence North	89°27'34" West, along said Northerly right		
of way line of Argyle Forest					
	Boulevard,  146.23 feet to  a point lying on said Easterly		
Terminus of Argyle Forest Boulevard; thence North	00°30'12" East, along said Easterly		
Terminus,  49.06  feet;  thence  Due  East,  departing  said  Easterly Terminus,  9.55  feet;		
thence North 00°52'41" East, 417.07 feet to a point on a curve concave Easterly having a		
radius  of 150.00 feet;  thence Northerly along the  arc	of said curve,  through  a central		
angle of	121°05'32",	an	arc length of 317.02 feet to		a point on said curve, said arc being		
subtended by a chord bearing and distance of North	00°52'41" East, 261.23 feet; thence		
North  00°52'41"  East,  787.40  feet;  thence  South  89°27'30"  East,  137.00  feet  to  the		
Northwesterly	comer of said  lands  described  and		recorded  in  Official  Records  Book		
13094, page 1133; thence South 89°27'30" East,  1659.39 feet; thence Due North, 57.52		
feet; thence Due East, 302.02 feet; thence South	79°33'29" East, 50 .74 feet; thence South		
88°47'41" East, 339.98 feet to the point of curvature of a curve concave Southwesterly,		

having a radius of 275.00 feet; thence Southeasterly along the arc of said curve, through a central angle of 41°53'50 11 , an arc length of 201.09 feet to a point of reverse curvature, said arc being subtended by a chord bearing and distance of South 67°50' 46" East, 196.64 feet; thence Southeasterly along the arc of a curve concave Northeasterly, having a radius of 112.00 feet, through a central angle of 43°05'1411 , an arc length of 84.23 feet to the point of tangency of said curve, said arc being subtended by a chord bearing and distance of South 68°26'29 11 East, 82.25 feet; thence South 89°59'06 11 East, 286.82 feet to a point lying on the Westerly right of way line of Old Middleburg Road, a variable width right of way as presently established; thence along said Westerly right of way line of Old Middleburg Road the following six (6) courses: 1) South 15°29'55 11 West, 756.12 feet to the point of curvature of a curve concave Northwesterly, having a radius of 1835.08 feet; 2) Southwesterly, along the arc of said curve, through a central angle of 05°30'0011 , an arc length of 176.16 feet to the point of tangency of said curve, said arc being subtended by a chord bearing and distance of South 18°14'55 11 West, 176.09 feet; 3) South 20°59'55 11 West, 200.30 feet; 4) North 69°00'05 11 West, 5.00 feet; 5) South 20°59'55 11 West, 387.21 feet to the point of curvature of a curve concave Northwesterly, having a radius of 25.00 feet; 6) Southwesterly, along the arc of said curve, through a central angle of 73°03'58 11 , an arc length of 31.88 feet to a point on said curve, said point also lying on said Northerly right of way line of Argyle Forest Boulevard, said arc being subtended by a chord bearing and distance of South 57°31 '5411 West, 29.76 feet; thence on a non-tangent bearing, North 89°27'34 11 West, departing said Westerly right of way line and along said Northerly right of way line, 2422.40 feet to the Point of Beginning.

Containing 99.41 acres, more or less.

Peter S. Chase

Professional Surveyor and Mapper
State of Florida LS No. 6335

MonthNear

05/01/2007 11/01/2007 05/01/2008 11/01/2008 05/01/2009 11/01/2009 05/01/2010 11/01/2010 05/01/2011 11/01/2011 05/01/2012 11/01/2012 05/01/2013 11/01/2013 05/01/2014 11/01/2014 05/01/2015 11/01/2015 05/01/2016 11/01/2016 05/01/2017 11/01/2017 05/01/2018 11/01/2018 05/01/2019 11/01/2019 05/01/2020 11/01/2020 05/01/2021 11/01/2021 05/01/2022 11/01/2022 05/01/2023 11/01/2023 05/01/2024 11/01/2024 05/01/2025 11/01/2025

	EXHIBITB		
DEBT SERVICE REQUIREMENTS		
	Series 2007 A Bonds		
Principal	Interest	Total Annual P&I	
	$86,301.67		
	258,905.00	$345,206.67	
	258,905.00		
	258,905.00	517,810.00	
$135,000	258,905.00		
	255,327.50	649,232.50	
145,000	255,327.50		
	251,485.00	651,812.50	
150,000	251,485.00		
	247,510.00	648,995.00	
160,000	247,510.00		
	243,270.00	650,780.00	
170,000	243,270.00		
	238,765.00	652,035.00	
180,000	238,765.00		
	233,995.00	652,760.00	
185,000	233,995.00		
	229,092.50	648,087.50	
200,000	229,092.50		
	223,792.50	652,885.00	
210,000	223,792.50		
	218,227.50	652,020.00	
220,000	218,227.50		
	212,397.50	650,625.00	
230,000	212,397.50		
	206,302.50	648,700.00	
245,000	206,302.50		
	199,810.00	651,112.50	
255,000	199,810.00		
	193,052.50	647,862.50	
270,000	193,052.50		
	185,897.50	648,950.00	
285,000	185,897.50		
	178,345.00	649,242.50	
300,000	178,345.00		
	170,395.00	648,740.00	
320,000	170,395.00		
	161,915.00	652,310.00	

05/01/2026	335,000	161,915.00		
11/01/2026		153,037.50	649,952.50	
05/01/2027	355,000	153,037.50		
11/01/2027		143,630.00	651,667.50	
05/01/2028	375,000	143,630.00		
11/01/2028		133,692.50	652,322.50	
05/01/2029	395,000	133,692.50		
11/01/2029		123,225.00	651,917.50	
05/01/2030	415,000	123,225.00		
11/01/2030		112,227.50	650,452.50	
05/01/2031	435,000	112,227.50		
11/01/2031		100,700.00	647,927.50	
05/01/2032	460,000	100,700.00		
11/01/2032		88,510.00	649,210.00	
05/01/2033	485,000	88,510.00		
11/01/2033		75,657.50	649,167.50	
05/01/2034	510,000	75,657.50		
11/01/2034		62,142.50	647,800.00	
05/01/2035	540,000	62.142.50		
11/01/2035		47,832.50	649,975.00	
05/01/2036	570,000	47,832.50		
11/01/2036		32,727.50	650,560.00	
05/01/2037	600,000	32,727.50		
11/01/2037		16,827.50	649,555.00	
05/01/2038*	635,000	16,827.50		
11/01/2038			651,827.50	
Total	$9,770,000	$10,601,501.67	$20,371,501.67	

Note:	Annual debt service totals are based on 5/1 and 11/1 payments in each year.
Totals are subject to change due to reamortizations resulting from prepayments of assessments.

*Final Maturity