OTC
Community Development District
May 11, 2022

AGENDA

OTC
Community Development District 475 West Town Place, Suite 114 St. Augustine, Florida 32092 www.OTCCDD.com

May 4, 2022

Board of Supervisors
OTC Community Development District
Call In # 1-800-264-8432 Code 421714

Dear Board Members:

The OTC Community Development District meeting is scheduled to be held Wednesday, May 11, 2022 at 10:30 a.m. at the offices of Riverside Management Services, 9655 Florida Mining Boulevard, Building 300, Suite 305, Jacksonville, Florida 32257.
Following is the revised agenda for the meeting:

Roll Call

Audience Comments

Approval of the Minutes of the February 9, 2022 Meeting

Consideration of Agreement for Underwriting Services with MBS Capital Markets for Refunding the Series 2007A Bonds

Consideration of Resolution 2022-06, Designating Officers

Consideration of Resolution 2022-07, Authorizing a Change in the Registered Agent

Acceptance of the Fiscal Year 2021 Audit Report

Consideration of Resolution 2022-08, Approving the Proposed Budget for Fiscal Year 2023 and Setting a Public Hearing Date

Consideration of Amendment to Agreement with GMS for District Management Services

Staff Reports
District Counsel

District Engineer – Update on the Stormwater Needs Analysis Report

District Manager

Supervisor Requests and Audience Comments

Financial Reports
Balance Sheet and Income Statement

Assessment Receipts Schedule

Check Register

Next Scheduled Meeting – July 13, 2022 at 10:30 a.m. at the offices of Riverside Management Services, 9655 Florida Mining Blvd. West, Building 300, Suite 305, Jacksonville, Florida 32257

Adjournment

MINUTES

MINUTES OF MEETING
OTC COMMUNITY DEVELOPMENT DISTRICT

A regular meeting of the Board of Supervisors of the OTC Community Development District was held Wednesday, February 9, 2022 at 10:30 a.m. at the offices of Riverside Management Services, Inc., 9655 Florida Mining Boulevard West, Building 300, Suite 305, Jacksonville, Florida 32257.

Present were:
Michelle Pierce	Chairperson
Rocky Morris	Supervisor
Kurt von der Osten	Supervisor

Also present were:
Jim Oliver	District Manager
Peter Ma	District Engineer
Jennifer Kilinski	District Counsel (by phone)
Johnathan Smith	KPR Centers (by phone)

The following is a summary of the discussions and actions taken at the February 9, 2022 meeting. An audio copy of the proceedings can be obtained by contacting the District Manager.

FIRST ORDER OF BUSINESS	Roll Call
Mr. Oliver called the meeting to order and called the roll.

SECOND ORDER OF BUSINESS	Audience Comments
There were no members of the public in attendance.

THIRD ORDER OF BUSINESS	Organizational Matters
Oath of Office for Newly Elected Supervisors
Mr. Oliver, being a notary public for the State of Florida administered an oath of office to Ms. Pierce and Mr. Morris.

Consideration of Resolution 2022-01, Canvassing and Certifying the Results of the Landowners Election
Mr. Oliver stated that 40 votes each were cast for Michelle Pierce and Rocky Morris, providing them each with four-year terms. There was no nomination to fill Seat 5, therefore it remains vacant.

On MOTION by Mr. Morris seconded by Mr. von der Osten with all in favor Resolution 2022-01, canvassing and certifying the results of the landowners election was approved.

Consideration of Resolution 2022-02, Designating Officers
Mr. Oliver reminded the Board that currently Ms. Pierce serves as Chairperson, Ms. Bock serves as Vice Chairperson, the remaining supervisors serve as Assistant Secretaries and there are GMS staff members serving as Secretary, Treasurer, Assistant Secretaries and Assistant Treasurers in order to be able to execute documents between meetings. The Board members agreed to keep the slate of officers the same.

On MOTION by Mr. Morris seconded by Ms. Pierce with all in favor Resolution 2022-02, designating officers was approved.

FOURTH ORDER OF BUSINESS	Minutes
Approval of the Minutes of the July 14, 2021 Meeting
There were no comments on the minutes.

On MOTION by Mr. Morris seconded by Mr. von der Osten with all in favor the minutes of the July 14, 2021 Board of Supervisors meeting were approved as presented.

Acceptance of the Minutes of the November 10, 2021 Landowners Election
There were no comments on the minutes.

On MOTION by Mr. Morris seconded by Ms. Pierce with all in favor the minutes of the November 10, 2021 Landowners Election meeting were accepted as presented.

FIFTH ORDER OF BUSINESS	Ratification of Engagement Letter with Grau
& Associates for the Fiscal Year 2021 Audit
Mr. Oliver noted the engagement letter with Grau & Associates was executed in order to being the audit process. The fee in the amount of $3,500 is under the budgeted amount.

On MOTION by Mr. Morris seconded by Mr. von der Osten with all in favor the engagement letter with Grau & Associates for the Fiscal Year 2021 audit was ratified.

SIXTH ORDER OF BUSINESS	Ratification of Transfer of Legal Services to
KE Law Group

Mr. Oliver noted the letter regarding the transfer of legal services to KE Law Group was executed in August. Ms. Kilinski stated that the fee agreement is consistent with the hourly rates the District has been charged in the past.

On MOTION by Ms. Pierce seconded by Mr. von der Osten with all in favor the transfer of legal services to KE Law Group was ratified.

SEVENTH ORDER OF BUSINESS	Acceptance of the 2021 Annual Engineer’s
Report
Mr. Oliver summarized that the letter states that the District maintains in good repair the capital assets, which are the two stormwater management facilities.

On MOTION by Mr. Morris seconded by Mr. von der Osten with all in favor 2021 annual engineer’s report was accepted.

EIGHTH ORDER OF BUSINESS	Consideration	of	Resolution	2022-03,
Waiving a Portion of the Rules of Procedure Relating to Meeting Notices
Ms. Kilinski informed the Board that the District’s Rules of Procedure currently require a notice be run in a newspaper for every regularly scheduled meeting. This resolution would waive that requirement and allow for relying on the annual meeting schedule that is published both in a newspaper and on the District’s website. This would in turn save the District money on the regular meeting notices.

On MOTION by Ms. Pierce seconded by Mr. Morris with all in favor Resolution 2022-03, waiving a portion of the Rules of Procedure relating to meeting notices was approved.

NINTH ORDER OF BUSINESS	Consideration	of	Resolution	2022-04,
Authorizing a Change in Registered Agent and Registered Office
Mr. Oliver pointed out that the registered agent is proposed to be changed to Ernesto Torres, and the registered office changed to the offices of GMS.

On MOTION by Mr. von der Osten seconded by Mr. Morris with all in favor Resolution 2022-04, authorizing a change in registered agent and registered office was approved.

TENTH ORDER OF BUSINESS	Consideration	of	Resolution	2022-05,
Adopting Amended Prompt Payment Policies
Ms. Kilinski stated that the District has prompt payment policies in place that are statutorily required by law for all local governments. There have been several changes to the legislative structure, including the payment responsibilities, the timeline for payment and the interest applicable if a payment is made late. The policies included in the agenda package include these legislative changes. She’s included in the policy the ability for the District to change the policies after each session to the extent there are further changes without having to go through a more formal process.

On MOTION by Mr. Morris seconded by Ms. Pierce with all in favor Resolution 2022-05, adopting amended prompt payment policies was approved.

ELEVENTH ORDER OF BUSINESS	Staff Reports
District Counsel – Memo Regarding Stormwater Needs Analysis
Ms. Kilinski informed the Board that during the last legislative session there was a law passed that requires all local governments to do a stormwater needs analysis that would be a 20- year study and has to be updated every five years. The first report is due in June.

District Engineer – Consideration of Work Authorization for Preparation of a Stormwater Needs Analysis Report
Mr. Ma presented the work authorization for preparation of a stormwater needs analysis report with the estimated fee not to exceed $6,000. Mr. Oliver noted that while this is an unbudgeted expense, the capital reserves can cover the cost.

On MOTION by Mr. Morris seconded by Mr. von der Osten with all in favor the work authorization for preparation of a stormwater needs analysis report at an amount not to exceed $6,000 was approved.

District Manager

Mr. Oliver noted the budget will be brought to the next meeting for approval.

TWELFTH ORDER OF BUSINESS	Supervisor’s	Requests	and	Audience
Comments
There being none, the next item followed.

THIRTEENTH ORDER OF BUSINESS	Financial Reports
Balance Sheet and Income Statement
Copies of the financial statements were included in the agenda package.

Assessment Receipt Schedule
A copy of the assessment receipt schedule showing the district is 96.5% collected was included in the agenda package.

Approval of Check Register
A copy of the check register totaling $315,550.59 was included in the agenda package.

On MOTION by Mr. Morris seconded by Ms. Pierce with all in favor the Check Register was approved.

FOURTEENTH ORDER OF BUSINESS	Next Scheduled Meeting – May 11, 2022 at
10:30	a.m.	at	the	offices	of	Riverside Management Services

FIFTEENTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Morris seconded by Mr. von der Osten with all in favor the meeting was adjourned.

Secretary/Assistant Secretary	Chairman/Vice Chairman

FOURTH ORDER OF BUSINESS

AGREEMENT FOR UNDERWRITING SERVICES OTC COMMUNITY DEVELOPMENT DISTRICT

May 11, 2022

Board of Supervisors
OTC Community Development District

Dear Supervisors:

MBS Capital Markets, LLC (the “Underwriter”) offers to enter into this agreement (the “Agreement”) with the OTC Community Development District (the “District”) which, upon your acceptance of this offer, will be binding on the District and the Underwriter. This agreement relates to the proposed issuance of the District’s Series 2022 Bonds (the “Bonds”) for the purpose of refunding the District’s outstanding Series 2007A (the “Prior Bonds”). This Agreement will cover the engagement for the Bonds and will be supplemented for future bond issuances as may be applicable.

Scope of Services: MBS intends to serve as the underwriter, and not as a financial advisor or municipal advisor, in connection with the issuance of the Bonds. The scope of services to be provided in a non-fiduciary capacity by the Underwriter for this transaction will include those listed below.

Advice regarding the structure, timing, terms, and other similar matters concerning the particular municipal securities described above.
Preparation of rating strategies and presentations related to the issue being underwritten.
Preparations for and assistance with investor “road shows,” if any, and investor discussions related to the issue being underwritten.
Advice regarding retail order periods and institutional marketing if the District decides to engage in a negotiated sale.
Assistance in the preparation of the Preliminary Official Statement, if any, and the Final Official Statement.
Assistance with the closing of the issue, including negotiation and discussion with respect to all documents, certificates, and opinions needed for the closing.
Coordination with respect to obtaining CUSIP numbers and the registration with the Depository Trust Company.
Preparation of post-sale reports for the issue, if any.
Structuring	of	refunding	escrow	cash	flow	requirements,	but	not	the recommendation of and brokerage of particular municipal escrow investments.
Member: FINRA/SIPC
Tampa, FL  Winter Park, FL  Kingston, TN  Nashville, TN

Fees: The Underwriter will be responsible for its own out-of-pocket expenses other than the fees and disbursements of underwriter’s or disclosure counsel which fees shall be paid from the proceeds of the Bonds. Any fees payable to the Underwriter will be contingent upon the successful sale and delivery or placement of the Bonds. The underwriting fee for the sale or placement of the Bonds will be the greater of $50,000 or 1.50% of the total par amount of Bonds issued.

The Underwriter shall also bear the cost of obtaining an investment grade rating with the actual cost of the rating to be paid from the proceeds of the Bonds only to the extent Bonds are issued.

Termination: Both the District and the Underwriter will have the right to terminate this Agreement without cause upon written notice to the non-terminating party.

Purchase Contract: At or before such time as the District gives its final authorization for the Bonds, the Underwriter and its counsel will deliver to the District a purchase or placement contract (the “Purchase Contract”) detailing the terms of the Bonds.

Notice of Meetings: The District shall provide timely notice to the Underwriter for all regular and special meetings of the District. The District will provide, in writing, to the Underwriter, at least one week prior to any meeting, except in the case of an emergency meeting for which the notice time shall be the same as that required by law for the meeting itself, of matters and items for which it desires the Underwriter's input.

Disclosures Concerning the Underwriter’s Role Required by MSRB Rule G-17. The Municipal Securities Rulemaking Board’s Rule G-17 requires underwriters to make certain disclosures to issuers in connection with the issuance of municipal securities. Those disclosures are attached hereto as “Exhibit A.” By execution of this Agreement, you are acknowledging receipt of the same. If you or any other Issuer officials have any questions or concerns about these disclosures, please make those questions or concerns known immediately to the undersigned. In addition, you should consult with the Issuer’s own financial and/or municipal, legal, accounting, tax and other advisors, as applicable, to the extent you deem appropriate. It is our understanding that you have the authority to bind the Issuer by contract with us, and that you are not a party to any conflict of interest relating to the subject transaction. If our understanding is incorrect, please notify the undersigned immediately.

This Agreement shall be effective upon your acceptance hereof and shall remain effective until such time as the Agreement has been terminated in accordance with Section 3 hereof.

We are required to seek your acknowledgement that you have received the disclosures referenced herein and attached hereto as Exhibit A. By execution of this agreement, you are acknowledging receipt of the same.

Sincerely,
MBS Capital Markets, LLC

Rhonda Mossing

Rhonda Mossing Managing Partner

Approved and Accepted By:		

Title:		

Date:		

EXHIBIT A

Disclosures Concerning the Underwriter’s Role

MSRB Rule G-17 requires an underwriter to deal fairly at all times with both municipal issuers and investors.

The underwriter’s primary role is to purchase the Bonds with a view to distribution in an arm’s- length commercial transaction with the Issuer. The underwriters has financial and other interests that differ from those of the District.

	Unlike a municipal advisor, the underwriter does not have a fiduciary duty to the District under the federal securities laws and are, therefore, is required by federal law to act in the best interests of the District without regard to their own financial or other interests.

The underwriter has a duty to purchase the Bonds from the Issuer at a fair and reasonable price but must balance that duty with their duty to sell the Bonds to investors at prices that are fair and reasonable.

The underwriter will review the official statement for the Bonds in accordance with, and as part of, its respective responsibilities to investors under the federal securities laws, as applied to the facts and circumstances of this transaction.

Disclosure Concerning the Underwriter’s Compensation

The underwriter will be compensated by a fee and/or an underwriting discount that will be set forth in the bond purchase agreement to be negotiated and entered into in connection with the issuance of the Bonds. Payment or receipt of the underwriting fee or discount will be contingent on the closing of the transaction and the amount of the fee or discount may be based, in whole or in part, on a percentage of the principal amount of the Bonds. While this form of compensation is customary in the municipal securities market, it presents a conflict of interest since the underwriter may have an incentive to recommend to the District a transaction that is unnecessary or to recommend that the size of the transaction be larger than is necessary.

Conflicts of Interest

The Underwriter has not identified any additional potential or actual material conflicts that require disclosure including those listed below.

Payments to or from Third Parties. There are no undisclosed payments, values, or credits to be received by the Underwriter in connection with its underwriting of this new issue from parties other than the District, and there are no undisclosed payments to be made by the Underwriter in connection with this new issue to parties other than the District (in either case including payments, values, or credits that relate directly or indirectly to collateral transactions integrally related to the issue being underwritten). In addition, there are no third-party arrangements for the marketing of the District’s securities.

Profit-Sharing with Investors. There are no arrangements between the Underwriter and an investor purchasing new issue securities from the Underwriter (including purchases that are contingent upon the delivery by the District to the Underwriter of the securities) according to which profits realized from the resale by such investor of the securities are directly or indirectly split or otherwise shared with the Underwriter.

Credit Default Swaps. There will be no issuance or purchase by the Underwriter of credit default swaps for which the reference is the District for which the Underwriter is serving as underwriter, or an obligation of that District.

Retail Order Periods. For new issues in which there is a retail order period, the Underwriter will honor such agreement to provide the retail order period. No allocation of securities in a manner that is inconsistent with a District’s requirements will be made without the District’s consent. In addition, when the Underwriter has agreed to underwrite a transaction with a retail order period, it will take reasonable measures to ensure that retail clients are bona fide.

Dealer Payments to District Personnel. Reimbursements, if any, made to personnel of the District will be made in compliance with MSRB Rule G-20, on gifts, gratuities, and non-cash compensation, and Rule G-17, in connection with certain payments made to, and expenses reimbursed for, District personnel during the municipal bond issuance process.

Disclosures Concerning Complex Municipal Securities Financing

Since the Underwriter has not recommended a “complex municipal securities financing” to the Issuer, additional disclosures regarding the financing structure for the Bonds are not required under MSRB Rule G-17.

FIFTH ORDER OF BUSINESS

OTC COMMUNITY DEVELOPMENT DISTRICT DESIGNATING THE OFFICERS OF THE DISTRICT, AND PROVIDING FOR AN EFFECTIVE DATE.

WHEREAS, OTC Community Development District (the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within the City of Jacksonville, Florida; and

WHEREAS, the Board of Supervisors of the District desires to designate the Officers of the District.

NOW, THEREFORE, be it resolved by the Board of Supervisors of OTC Community Development District:

SECTION 1.		 is appointed Chairman.

SECTION 2.		 is appointed Vice Chairman.

SECTION 3.		 is appointed Secretary and Treasurer.

	 is appointed Assistant Secretary.

	 is appointed Assistant Secretary.

	 is appointed Assistant Secretary.

	 is appointed Assistant Treasurer.

	 is appointed Assistant Secretary.

SECTION 4.	This Resolution shall become effective immediately upon its adoption.

PASSED AND ADOPTED THIS 11TH DAY OF MAY, 2022.

ATTEST	OTC COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman/Vice Chairman

SIXTH ORDER OF BUSINESS

THE OTC COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING AND APPROVING CHANGE OF DESIGNATED REGISTERED AGENT AND REGISTERED OFFICE.

WHEREAS, the OTC Community Development District (“District”) is a local unit of limited special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within the City of Jacksonville, Florida; and

WHEREAS, the District is statutorily required to designate a registered agent and a registered office location for the purposes of records keeping and accepting any process, notice, or demand required or permitting by law to be served upon the District in accordance with Section 189.014(1), Florida Statutes.

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

Section 1. James Oliver is hereby designated as Registered Agent for the District.

Section 2. The District's Registered Office shall be located at Governmental Management Services – North Florida, LLC, 475 West Town Place, Suite 114, St. Augustine, FL 32092.

Section 3. In accordance with Section 189.014(1), Florida Statutes, the District’s Secretary is hereby directed to file certified copies of this resolution with Duval County and the Florida Department of Economic Opportunity.

Section 4. This Resolution shall become effective on upon its adoption.

PASSED AND ADOPTED THIS 11TH DAY OF MAY, 2022.

ATTEST:

OTC COMMUNITY DEVELOPMENT DISTRICT

 	
Secretary/Assistant Secretary	Chairperson, Board of Supervisors

SEVENTH ORDER OF BUSINESS

OTC
COMMUNITY DEVELOPMENT DISTRICT CITY OF JACKSONVILLE, FLORIDA FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2021

OTC COMMUNITY DEVELOPMENT DISTRICT CITY OF JACKSONVILLE, FLORIDA

TABLE OF CONTENTS

	  Page		
INDEPENDENT AUDITOR’S REPORT	1-2	
MANAGEMENT’S DISCUSSION AND ANALYSIS	3-6	
BASIC FINANCIAL STATEMENTS		
Government-Wide Financial Statements:		
Statement of Net Position	7	
Statement of Activities	8	
Fund Financial Statements:		
Balance Sheet – Governmental Funds	9	
Reconciliation of the Balance Sheet - Governmental Funds to the
Statement of Net Position	
10	
Statement of Revenues, Expenditures and Changes in Fund Balances –
Governmental Funds	
11	
Reconciliation of the Statement of Revenues, Expenditures and Changes in
Fund Balances of Governmental Funds to the Statement of Activities	
12	
Notes to the Financial Statements	13-21	
REQUIRED SUPPLEMENTARY INFORMATION		
Schedule of Revenues, Expenditures and Changes in Fund Balance –
Budget and Actual – General Fund	
22	
Notes to Required Supplementary Information	23	
OTHER INFORMATION		
Data Elements required by FL Statute 218.39 (3) (c)	24	
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS	

25-26	
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10)
OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	

27	
MANAGEMENT LETTER REQUIRED BY CHAPTER 10.550 OF THE RULES OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA	
28-29	

INDEPENDENT AUDITOR’S REPORT

To the Board of Supervisors
OTC Community Development District City of Jacksonville, Florida

Report on the Financial Statements

951 Yamato Road ▪ Suite 280 Boca Raton, Florida 33431 (561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

We have audited the accompanying financial statements of the governmental activities and each major fund of OTC Community Development District, City of Jacksonville, Florida (“District”) as of and for the fiscal year ended September 30, 2021, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Opinions

In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities and each major fund of the District as of September 30, 2021, and the respective changes in financial position thereof for the fiscal year then ended in accordance with accounting principles generally accepted in the United States of America.

Other Matters

Required Supplementary Information

Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis and budgetary comparison information be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Other Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the District’s basic financial statements. The information for compliance with FL Statute 218.39
(c) is not a required part of the basic financial statements. The information for compliance with FL Statute 218.39 (3) (c) has not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on it.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated April 18, 2022, on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance.

April 18, 2022

MANAGEMENT’S DISCUSSION AND ANALYSIS

Our discussion and analysis of OTC Community Development District, City of Jacksonville, Florida (“District”) provides a narrative overview of the District’s financial activities for the fiscal year ended September 30, 2021. Please read it in conjunction with the District’s Independent Auditor’s Report, basic financial statements, accompanying notes and supplementary information to the basic financial statements.

FINANCIAL HIGHLIGHTS

The liabilities of the District exceeded its assets at the close of the most recent fiscal year resulting in a net position deficit balance of ($2,297,729).

The change in the District’s total net position in comparison with the prior fiscal year was
$269,355, an increase. The key components of the District’s net position and change in net position are reflected in the table in the government-wide financial analysis section.

At September 30, 2021, the District’s governmental funds reported combined ending fund balances of $663,596, an increase of $31,853 in comparison with the prior fiscal year. A portion of fund balance is non-spendable for prepaid items, restricted for debt service, assigned to subsequent year’s expenditures and renewal and replacement, and the remainder is unassigned fund balance which is available for spending at the District’s discretion.

OVERVIEW OF FINANCIAL STATEMENTS

This discussion and analysis are intended to serve as the introduction to the District’s basic financial statements. The District’s basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other supplementary information in addition to the basic financial statements themselves.

Government-Wide Financial Statements

The government-wide financial statements are designed to provide readers with a broad overview of the District’s finances, in a manner similar to a private-sector business.

The statement of net position presents information on all the District’s assets, deferred outflows of resources, liabilities, and deferred inflows of resources with the residual amount being reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the District is improving or deteriorating.

The statement of activities presents information showing how the government’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods.

The government-wide financial statements include all governmental activities that are principally supported by special assessments. The District does not have any business-type activities. The governmental activities of the District include the general government (management) function and maintenance functions.

Fund Financial Statements

A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. The District has one fund category: governmental funds.

OVERVIEW OF FINANCIAL STATEMENTS (Continued)

Governmental Funds

Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating a District’s near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the District’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The District maintains three governmental funds for external reporting. Information is presented separately in the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances for the general fund, debt service fund and capital projects fund which are considered major funds.

The District adopts an annual appropriated budget for its general and debt service funds. A budgetary comparison schedule has been provided for the general fund to demonstrate compliance with the budget.

Notes to the Financial Statements

The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements.

GOVERNMENT-WIDE FINANCIAL ANALYSIS

As noted earlier, net position may serve over time as a useful indicator of an entity’s financial position. In the case of the District, liabilities exceeded assets at the close of the most recent fiscal year.

Key components of the District’s net position are reflected in the following table:

NET POSITION SEPTEMBER 30,
	2021	2020	

Current and other assets

$	663,693	$

635,339

Capital assets, net of depreciation		3,840,640	3,868,880  Total assets		4,504,333	4,504,219 
Current liabilities	147,062	156,303
Long-term liabilities		6,655,000	6,915,000 
Total liabilities		6,802,062	7,071,303  Net position
Net investment in capital assets	(2,814,360)	(3,046,120) Restricted		421,628		387,100
Unrestricted		95,003	91,936 
Total net position	 $  (2,297,729) $	(2,567,084)
The District’s net position reflects its investment in capital assets (e.g. land, land improvements, and infrastructure) less any related debt used to acquire those assets that is still outstanding. These assets are used to provide services to residents; consequently, these assets are not available for future spending. Although the District’s investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.

GOVERNMENT-WIDE FINANCIAL ANALYSIS (Continued)

The restricted portion of the District’s net position represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net position may be used to meet the District’s other obligations.

The District’s net position increased during the most recent fiscal year. The majority of the increase represents the extent to which ongoing program revenues exceeded the cost of operations and depreciation expense.

Key elements of the change in net position are reflected in the following table:

CHANGES IN NET POSITION
FOR THE FISCAL YEAR ENDED SEPTEMBER 30,
	2021	2020	
Revenues:
Program revenues
Charges for services	$	729,423	$	729,935	
Operating grants and contributions	58	4,512	
Capital grants and contributions			67		841  Total revenues		729,548	735,288 
Expenses:
General government	71,731	73,872	
Maintenance and operations	28,240	29,464	
Interest		360,222	378,089 	
Total expenses		460,193	481,425 	
Change in net position		269,355	253,863 	
Net position - beginning		(2,567,084)	(2,820,947)	
Net position - ending	 $  (2,297,729) $	(2,567,084)	

As noted above and in the statement of activities, the cost of all governmental activities during the fiscal year ended September 30, 2021 was $460,193. The costs of the District’s activities were paid by program revenues. As in the prior fiscal year, program revenues are comprised primarily of assessments. The District also received funds from investment earnings which are included in program revenues. The majority of the change in expenses results from the decrease in interest. Based on the amortization schedule of the Bonds, as the balance outstanding of the Bonds decreases over time, the portion of each debt service payment allocated to principal increases accordingly thereby decreasing the amount allocated to interest.

GENERAL BUDGETING HIGHLIGHTS

An operating budget was adopted and maintained by the governing board for the District pursuant to the requirements of Florida Statutes. The budget is adopted using the same basis of accounting that is used in preparation of the fund financial statements. The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2021.

CAPITAL ASSETS AND DEBT ADMINISTRATION

Capital Assets

At September 30, 2021, the District had $4,236,000 invested in capital assets for its governmental activities. In the government-wide financial statements, depreciation of $395,360 has been taken, which resulted in a net book value of $3,840,640. More detailed information about the District’s capital assets is presented in the notes of the financial statements.

Capital Debt

At September 30, 2021, the District had $6,655,000 in Bonds outstanding for its governmental activities. More detailed information about the District’s capital debt is presented in the notes of the financial statements.

ECONOMIC FACTORS AND NEXT YEAR’S BUDGETS

The District does not anticipate any major projects or significant changes to its infrastructure maintenance program for the subsequent fiscal year. In addition, it is anticipated that the general operations of the District will remain fairly constant.

CONTACTING THE DISTRICT’S FINANCIAL MANAGEMENT

This financial report is designed to provide our citizens, land owners, customers, investors and creditors with a general overview of the District’s finances and to demonstrate the District’s accountability for the financial resources it manages and the stewardship of the facilities it maintains. If you have questions about this report or need additional financial information, contact the OTC Community Development District’s Finance Department at 475 West Town Place, Suite 114, St. Augustine, Florida, 32092.

OTC COMMUNITY DEVELOPMENT DISTRICT CITY OF JACKSONVILLE, FLORIDA STATEMENT OF NET POSITION SEPTEMBER 30, 2021

	Governmental
	Activities		
ASSETS		
Cash and cash equivalents	$	48,754	
Investments	39,615	
Prepaid items	6,731	
Restricted assets:		
Investments	568,593	
Capital assets		
Nondepreciable	3,388,800	
Depreciable, net		451,840 	
Total assets		4,504,333 	

LIABILITIES		
Accounts payable	97	
Accrued interest payable	146,965	
Non-current liabilities:		
Due within one year	250,000	
Due in more than one year		6,405,000 	
Total liabilities		6,802,062 	

NET POSITION		
Net investment in capital assets	(2,814,360)	
Restricted for debt service	421,628	
Unrestricted		95,003 	
Total net position	 $	(2,297,729) 	

See notes to the financial statements

OTC COMMUNITY DEVELOPMENT DISTRICT CITY OF JACKSONVILLE, FLORIDA STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2021

Charges for

Program Revenues
Operating Grants and

Capital Grants and

Net (Expense) Revenue and Changes in Net Position

Governmental

Functions/Programs		Expenses	Services	Contributions	Contribution	Activities	 Primary government:
Governmental activities:
General government	$	71,731	$	74,731	$	-	$	-		$	3,000	
Maintenance and operations	28,240	-	-	67	(28,173)	
Interest on long-term debt		360,222	654,692	58	-	294,528 
Total governmental activities		460,193	729,423	58	67	269,355 

Change in net position		269,355 	
Net position - beginning		(2,567,084) 	
Net position - ending	 $	(2,297,729) 	

See notes to the financial statements

BALANCE SHEET GOVERNMENTAL FUNDS SEPTEMBER 30, 2021

	Major Funds	
Capital

Total Governmental

General

Debt Service

Projects

Funds

ASSETS		
Cash and cash equivalents	$	48,754	$	-	$	-	$	48,754	
Investments	-	568,593	39,615	608,208	
Prepaid items	6,731	-	-	6,731	
Total assets	 $	55,485	$	568,593	$	39,615	$	663,693 

LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable	$

97	$

-	$	-	$	97

Total liabilities	97	-	-	97

Fund balances:
Nonspendable:
Prepaid items Restricted for:
Debt service	6,731

-	-

568,593	-

-	6,731

568,593	
Assigned to:
Subsequent year's expenditures		
7,714		
-		
-		
7,714	
Renewal and replacement		-		-		39,615		39,615	
Unassigned		40,943		-		-		40,943	
Total fund balances		55,388		568,593		39,615		663,596	

Total liabilities and fund balances	
$	
55,485	
$	
568,593	
$	
39,615	
$	
663,693	

See notes to the financial statements

RECONCILIATION OF THE BALANCE SHEET - GOVERNMENTAL FUNDS TO THE STATEMENT OF NET POSITION
SEPTEMBER 30, 2021

Fund balance - governmental funds
Amounts reported for governmental activities in the statement of net position are different because:

$	663,596

Capital assets used in governmental activities are not financial resources and, therefore, are not reported as assets in the governmental funds. The statement of net position includes those capital assets, net of any accumulated depreciation, in the net position of the government as a whole.
Cost of capital assets	4,236,000
Accumulated depreciation	  (395,360) 	3,840,640

Liabilities not due and payable from current available resources are not reported as liabilities in the governmental fund financial statements. All liabilities, both current and long- term, are reported in the government-wide financial statements.
Accrued interest payable	(146,965)	
Bonds payable	  (6,655,000)	(6,801,965) 	
Net position of governmental activities	 $	(2,297,729) 	

See notes to the financial statements

STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2021

	Major Funds		Total

General

Debt Service

Capital Projects

Governmental Funds

REVENUES		
Assessments	$	74,731	$ 654,692	$	-		$	729,423	
Interest	-	58		67	125	
Total revenues	74,731	654,750		67	729,548	

EXPENDITURES
Current:
General government Debt service:
Principal	71,731

-	-

260,000	-

-		71,731

260,000	
Interest	-	365,964	-		365,964	
Total expenditures	71,731	625,964	-		697,695	

Excess (deficiency) of revenues over (under) expenditures	

3,000	

28,786		

67	

31,853	

OTHER FINANCING SOURCES (USES)						
Interfund transfer in (out)	(2,728)	-	2,728	-	
Total other financing sources (uses)	(2,728)	-	2,728	-	

Net change in fund balances	
272	
28,786	
2,795	
31,853	
Fund balances - beginning	55,116	539,807	36,820	631,743	

Fund balances - ending	
$	55,388	
$ 568,593	
$	39,615	
$	663,596	

See notes to the financial statements

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2021

Net change in fund balances - total governmental funds	$ Amounts reported for governmental activities in the statement of activities
are different because:
Repayments of long-term liabilities are reported as expenditures in the governmental fund financial statements, but such repayments reduce liabilities in the statement of net position and are eliminated in the

31,853

statement of activities.	260,000
Depreciation of capital assets is not recognized in the governmental fund financial statements, but is reported as an expense in the statement
of activities.	(28,240)
The change in accrued interest on long-term liabilities between the current and prior fiscal year is recorded in the statement of activities but
not in the governmental fund financial statements.		5,742 
Change in net position of governmental activities	 $	269,355 

See notes to the financial statements

NOTES TO FINANCIAL STATEMENTS NOTE 1 – NATURE OF ORGANIZATION AND REPORTING ENTITY
OTC Community Development District (the "District") was created by City of Jacksonville, Florida Ordinance 2006-1198-E, enacted November 28, 2006, effective December 6, 2006, pursuant to the Uniform Community Development District Act of 1980, otherwise known as Chapter 190, Florida Statutes. The Act provides among other things, the power to manage basic services for community development, power to borrow money and issue Bonds, and to levy and assess non-ad valorem assessments for the financing and delivery of capital infrastructure. The District’s boundaries encompass approximately 99.4 acres.

The District was established for the purposes of financing and managing the acquisition, construction, maintenance and operation of a portion of the infrastructure necessary for community development within the District.

The District is governed by the Board of Supervisors (the "Board"), which is composed of five members. The Supervisors are elected by the owners of the property within the District. The Board of Supervisors of the District exercise all powers granted to the District pursuant to Chapter 190, Florida Statutes. The Supervisors are elected on at large basis by the owners of the property within the District.

The Board has the responsibility for:
Assessing and levying assessments.
Approving budgets.
Exercising control over facilities and properties.
Controlling the use of funds generated by the District.
Approving the hiring and firing of key personnel.
Financing improvements.

The financial statements were prepared in accordance with Governmental Accounting Standards Board (“GASB”) Statements. Under the provisions of those standards, the financial reporting entity consists of the primary government, organizations for which the District is considered to be financially accountable and other organizations for which the nature and significance of their relationship with the District are such that, if excluded, the financial statements of the District would be considered incomplete or misleading. There are no entities considered to be component units of the District; therefore, the financial statements include only the operations of the District.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Government-Wide and Fund Financial Statements
The basic financial statements include both government-wide and fund financial statements.

The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the non-fiduciary activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements.

The statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include 1) charges to customers who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment. (Operating- type special assessments for maintenance and debt service are treated as charges for services.); and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Other items not included among program revenues are reported instead as general revenues.

Measurement Focus, Basis of Accounting and Financial Statement Presentation
The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Assessments are recognized as revenues in the year for which they are levied. Grants and similar items are to be recognized as revenue as soon as all eligibility requirements imposed by the provider have been met.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures are recorded only when payment is due.

Assessments
Assessments are non-ad valorem assessments on benefited property within the District. Operating and maintenance assessments are based upon the adopted budget and levied annually at a public hearing of the District. Debt service assessments are levied when Bonds are issued and assessed and collected on an annual basis. The District may collect assessments directly or utilize the “Uniform Method of Collection” under Florida Statutes. Direct collected assessments are due as set forth in the annual assessment resolution adopted by the Board of Supervisors. Assessments collected under the Uniform Method are noticed by the County Tax Collector on November 1 and due on or before March 31 of each year. Property owners may prepay a portion or all of the debt service assessments on their property subject to various provisions in the Bond documents.

Assessments and interest associated with the current fiscal period are considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. The portion of assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period.

The District reports the following major governmental funds:

General Fund
The general fund is the general operating fund of the District. It is used to account for all financial resources except those required to be accounted for in another fund.

Debt Service Fund
The debt service fund is used to account for the accumulation of resources for the annual payment of principal and interest on long-term debt.

Capital Projects Fund
This fund accounts for the financial resources to be used for the acquisition or construction of major infrastructure and for the accumulation of renewal and replacement funds for future repairs within the District.

As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements.

When both restricted and unrestricted resources are available for use, it is the government’s policy to use restricted resources first for qualifying expenditures, then unrestricted resources as they are needed.

Assets, Liabilities and Net Position or Equity

Restricted Assets
These assets represent cash and investments set aside pursuant to Bond covenants or other contractual restrictions.

Deposits and Investments
The District’s cash and cash equivalents are considered to be cash on hand and demand deposits (interest and non-interest bearing).

The District has elected to proceed under the Alternative Investment Guidelines as set forth in Section
218.415 (17) Florida Statutes. The District may invest any surplus public funds in the following:

The Local Government Surplus Trust Funds, or any intergovernmental investment pool authorized pursuant to the Florida Inter-local Cooperation Act;
Securities and Exchange Commission registered money market funds with the highest credit quality rating from a nationally recognized rating agency;
Interest bearing time deposits or savings accounts in qualified public depositories;
Direct obligations of the U.S. Treasury.

The State Board of Administration’s (“SBA”) Local Government Surplus Funds Trust Fund (“Florida PRIME”) is a“2a-7 like” pool. A “2a-7 like” pool is an external investment pool that is not registered with the Securities and Exchange Commission (“SEC”) as an investment company, but nevertheless has a policy that it will, and does, operate in a manner consistent with the SEC’s Rule 2a-7 of the Investment Company Act of 1940, which comprises the rules governing money market funds. Thus, the pool operates essentially as a money market fund. The District has reported its investment in Florida PRIME at amortized cost for financial reporting purposes.

Securities listed in paragraph c and d shall be invested to provide sufficient liquidity to pay obligations as they come due.

The District records all interest revenue related to investment activities in the respective funds. Investments are measured at amortized cost or reported at fair value as required by generally accepted accounting principles.

Prepaid Items
Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in both government-wide and fund financial statements.

Capital Assets
Capital assets which include property, plant and equipment, and infrastructure assets (e.g., roads, sidewalks and similar items) are reported in the government activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial, individual cost of more than $5,000 (amount not rounded) and an estimated useful life in excess of two years. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at acquisition value at the date of donation.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed.

Capital Assets (Continued)
Property, plant and equipment of the District are depreciated using the straight-line method over the following estimated useful lives:
Assets	Years	
Infrastructure – stormwater system	30	
In the governmental fund financial statements, amounts incurred for the acquisition of capital assets are reported as fund expenditures. Depreciation expense is not reported in the governmental fund financial statements.

Unearned Revenue
Governmental funds report unearned revenue in connection with resources that have been received, but not yet earned.

Long-Term Obligations
In the government-wide financial statements long-term debt and other long-term obligations are reported as liabilities in the statement of net position. Bond premiums and discounts are deferred and amortized ratably over the life of the Bonds. Bonds payable are reported net of applicable premiums or discounts. Bond issuance costs are expensed when incurred.

In the fund financial statements, governmental fund types recognize premiums and discounts, as well as issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

Deferred Outflows/Inflows of Resources
In addition to assets, the statement of financial position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then.

In addition to liabilities, the statement of financial position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time.

Fund Equity/Net Position
In the fund financial statements, governmental funds report non spendable and restricted fund balance for amounts that are not available for appropriation or are legally restricted by outside parties for use for a specific purpose. Assignments of fund balance represent tentative management plans that are subject to change.

Fund Equity/Net Position (Continued)
The District can establish limitations on the use of fund balance as follows:

Committed fund balance – Amounts that can be used only for the specific purposes determined by a formal action (resolution) of the Board of Supervisors. Commitments may be changed or lifted only by the Board of Supervisors taking the same formal action (resolution) that imposed the constraint originally. Resources accumulated pursuant to stabilization arrangements sometimes are reported in this category.

Assigned fund balance – Includes spendable fund balance amounts established by the Board of Supervisors that are intended to be used for specific purposes that are neither considered restricted nor committed. The Board may also assign fund balance as it does when appropriating fund balance to cover differences in estimated revenue and appropriations in the subsequent year’s appropriated budget. Assignments are generally temporary and normally the same formal action need not be taken to remove the assignment.

The District first uses committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used.

Net position is the difference between assets and deferred outflows of resources less liabilities and deferred inflows of resources. Net position in the government-wide financial statements are categorized as net investment in capital assets, restricted or unrestricted. Net investment in capital assets represents net position related to infrastructure and property, plant and equipment. Restricted net position represents the assets restricted by the District’s Bond covenants or other contractual restrictions. Unrestricted net position consists of the net position not meeting the definition of either of the other two components.

Other Disclosures

Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenditures during the reporting period. Actual results could differ from those estimates.

NOTE 3 – BUDGETARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budget. Annual Budgets are adopted on a basis consistent with generally accepted accounting principles for the general fund. All annual appropriations lapse at fiscal year-end.

The District follows these procedures in establishing the budgetary data reflected in the financial statements.

Each year the District Manager submits to the District Board a proposed operating budget for the fiscal year commencing the upcoming October 1.
Public hearings are conducted to obtain comments.
Prior to October 1, the budget is legally adopted by the District Board.
All budget changes must be approved by the District Board.
The budgets are adopted on a basis consistent with generally accepted accounting principles.
Unused appropriation for annually budgeted funds lapse at the end of the year.

The District’s cash balances were entirely covered by federal depository insurance or by a collateral pool pledged to the State Treasurer. Florida Statutes Chapter 280, "Florida Security for Public Deposits Act", requires all qualified depositories to deposit with the Treasurer or another banking institution eligible collateral equal to various percentages of the average daily balance for each month of all public deposits in excess of any applicable deposit insurance held. The percentage of eligible collateral (generally, U.S. Governmental and agency securities, state or local government debt, or corporate bonds) to public deposits is dependent upon the depository's financial history and its compliance with Chapter 280. In the event of a failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses.

Investments
The District’s investments were held as follows at September 30, 2021:

 Amortized Cost	Credit Risk	Maturities	

Fidelity Investments Money Market Government Portfolio - Class III
Investment in Local Government Surplus Funds Trust

$	568,593	S&P AAAm

39,615	S&P AAAm

Weighted average of the fund portfolio: 45 days
Weighted average of the fund

Fund (Florida PRIME)		
 $	608,208 

portfolio: 48 days

Credit risk – For investments, credit risk is generally the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Investment ratings by investment type are included in the preceding summary of investments.

Concentration risk – The District places no limit on the amount the District may invest in any one issuer.

Interest rate risk – The District does not have a formal policy that limits investment maturities as a means of managing exposure to fair value losses arising from increasing interest rates.

However, the Bond Indenture limits the type of investments held using unspent proceeds.

Fair Value Measurement – When applicable, the District measures and records its investments using fair value measurement guidelines established in accordance with GASB Statements. The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques.

These guidelines recognize a three-tiered fair value hierarchy, in order of highest priority, as follows:

Level 1:	Investments whose values are based on unadjusted quoted prices for identical investments in active markets that the District has the ability to access;
Level 2: Investments whose inputs - other than quoted market prices - are observable either directly or indirectly; and,
Level 3: Investments whose inputs are unobservable.

The fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the entire fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs.

Money market investments that have a maturity at the time of purchase of one year or less and are held by governments other than external investment pools should be measured at amortized cost. For external investment pools that qualify to be measured at amortized cost, the pool’s participants should also measure their investments in that external investment pool at amortized cost for financial reporting purposes. Accordingly, the District’s investments have been reported at amortized cost above.

External Investment Pool – With regard to redemption gates, Chapter 218.409(8)(a), Florida Statutes, states that “The principal, and any part thereof, of each account constituting the trust fund is subject to payment at any time from the moneys in the trust fund. However, the Executive Director may, in good faith, on the occurrence of an event that has a material impact on liquidity or operations of the trust fund, for 48 hours limit contributions to or withdrawals from the trust fund to ensure that the Board can invest moneys entrusted to it in exercising its fiduciary responsibility. Such action must be immediately disclosed to all participants, the Trustees, the Joint Legislative Auditing Committee, the Investment Advisory Council, and the Participant Local Government Advisory Council. The Trustees shall convene an emergency meeting as soon as practicable from the time the Executive Director has instituted such measures and review the necessity of those measures. If the Trustees are unable to convene an emergency meeting before the expiration of the 48-hour moratorium on contributions and withdrawals, the moratorium may be extended by the Executive Director until the Trustees are able to meet to review the necessity for the moratorium. If the Trustees agree with such measures, the Trustees shall vote to continue the measures for up to an additional 15 days. The Trustees must convene and vote to continue any such measures before the expiration of the time limit set, but in no case may the time limit set by the Trustees exceed 15 days.”

With regard to liquidity fees, Florida Statute 218.409(4) provides authority for the SBA to impose penalties for early withdrawal, subject to disclosure in the enrollment materials of the amount and purpose of such fees. At present, no such disclosure has been made.

As of September 30, 2021, there were no redemption fees or maximum transaction amounts, or any other requirements that serve to limit a participant’s daily access to 100% of their account value.

NOTE 5 – CAPITAL ASSETS

Capital asset activity for the fiscal year ended September 30, 2021 was as follows:

Governmental activities

Total capital assets, not being depreciated	3,388,800	-	-	3,388,800	

Capital assets, being depreciated Infrastructure - stormwater system	

847,200	

-	

-	

847,200	
Total capital assets, being depreciated	847,200	-	-	847,200	

Less accumulated depreciation for: Infrastructure - stormwater system	

367,120	

28,240	

-	

395,360	
Total accumulated depreciation	367,120	28,240	-	395,360	

Total capital assets, being depreciated, net	
480,080	
(28,240)	
-	451,840	

Governmental activities capital assets, net	
$  3,868,880	
$	(28,240)	
$	-	$  3,840,640	

Capital assets, not being depreciated Land and land improvements

Beginning Balance

$	3,388,800	$

Additions	Reductions

-	$	-

Ending Balance

$	3,388,800

Depreciation expense was charged to the Maintenance and Operations function.

On March 15, 2007, the District issued $9,770,000 of Special Assessment Bonds, Series 2007A. The Bonds are due May 1, 2038 with a fixed interest rate of 5.3%. The Bonds were issued to finance the acquisition and construction of certain improvements for the benefit of the District. Interest is to be paid semiannually on each May 1 and November 1, and the principal is to be paid serially on each May 1, commencing May 1, 2009.

The Bonds are subject to optional redemption prior to maturity as outlined in the Bond Indenture. The Bonds are also subject to extraordinary mandatory redemption prior to their selected maturity in the manner outlined in the Bond Indenture.

The Bond Indenture established a debt service reserve requirement as well as other restrictions and requirements relating principally to the use of proceeds to pay for the infrastructure improvements and the procedures to be followed by the District on assessments to property owners. The District agrees to levy special assessments in annual amounts adequate to provide payment of debt service and to meet the reserve requirements. The District was in compliance with the requirements at September 30, 2021.

Changes in long-term liability activity for the fiscal year ended September 30, 2021 were as follows:

Governmental activities Bonds payable:
Series 2007A Total

Beginning Balance

Additions	Reductions

Ending Balance

Due Within One Year

$	6,915,000	$	-	$	260,000	$	6,655,000	$	250,000	
$	6,915,000	$	-	$	260,000	$	6,655,000	$	250,000	

At September 30, 2021, the scheduled debt service requirements on the long-term debt were as follows:

Year ending

	Governmental Activities	

  September 30	Principal	Interest	Total	
2022	$	250,000	$	352,716	$	602,716	
2023	260,000	339,466	599,466	
2024	275,000	325,686	600,686	
2025	290,000	311,110	601,110	
2026	305,000	295,740	600,740	
2027-2031	1,800,000	1,217,680	3,017,680	
2032-2036	2,345,000	685,558	3,030,558	
2037-2038		1,130,000	90,630	1,220,630 
Total	 $	6,655,000	$	3,618,586	$	10,273,586 

NOTE 7 – DEVELOPER TRANSACTIONS

The Developer owns a portion of land within the District; therefore, assessment revenues in the general and debt service funds include the assessments levied on those lots owned by the Developer.

NOTE 8 – CONCENTRATION

A significant portion of the District’s activity is dependent upon the continued involvement of the Developer, the loss of which could have a material adverse effect on the District’s operations.

NOTE 9 – MANAGEMENT COMPANY

The District has contracted with a management company to perform management advisory services, which include financial and accounting services. Certain employees of the management company also serve as officers of the District. Under the agreement, the District compensates the management company for management, accounting, financial reporting, computer and other administrative costs.

NOTE 10 – RISK MANAGEMENT

The District is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; and natural disasters. The District has obtained commercial insurance from independent third parties to mitigate the costs of these risks; coverage may not extend to all situations. There were no settled claims during the past three years.

SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL – GENERAL FUND FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2021

	
Budgeted
	Amounts	 Original & Final	

Actual Amounts	Variance with Final Budget - Positive
(Negative)	
REVENUES
Assessments	
$	74,525	
$	74,731	
$	206	
Total revenues	74,525	74,731	206	

EXPENDITURES
Current:
General government	81,471	71,731	9,740	
Maintenance and operations	2,448	-	2,448	
Total expenditures	83,919	71,731	12,188	

Excess (deficiency) of revenues over (under) expenditures	

(9,394)	

3,000	

12,394	

OTHER FINANCING SOURCES (USES)
Carry forward	9,394	-	(9,394)	
Transfer in (out)	-	(2,728)	(2,728)	
Total other financing sources (uses)	9,394	(2,728)	(12,122)	

Net change in fund balance	
 $	-		
272  $	272 	
Fund balance - beginning			55,116 	
Fund balance - ending		 $	55,388 	

See notes to required supplementary information

NOTES TO REQUIRED SUPPLEMENTARY INFORMATION

The District is required to establish a budgetary system and an approved Annual Budget for the general fund. The District’s budgeting process is based on estimates of cash receipts and cash expenditures which are approved by the Board. The budget approximates a basis consistent with accounting principles generally accepted in the United States of America (generally accepted accounting principles).

The legal level of budgetary control, the level at which expenditures may not exceed budget, is in the aggregate. Any budget amendments that increase the aggregate budgeted appropriations must be approved by the Board of Supervisors. Actual general fund expenditures did not exceed appropriations for the fiscal year ended September 30, 2021.

OTHER INFORMATION – DATA ELEMENTS REQUIRED BY FL STATUTE 218.39(3)(C) UNAUDITED

Element	Comments	
Number of district employees compensated at 9/30/2021	0	
Number of independent contractors compensated in September 2021	2	
Employee compensation for FYE 9/30/2021 (paid/accrued)	$0.00	
Independent contractor compensation for FYE 9/30/2021	$62,081.33	
Construction projects to begin on or after October 1; (>$65K)		
Series 2007	Not applicable	
Budget variance report	See page 22 of annual financial report	
Ad Valorem taxes;	Not applicable	
Millage rate FYE 9/30/2021	Not applicable	
Ad valorem taxes collected FYE 9/30/2021	Not applicable	
Outstanding Bonds:	Not applicable	
Non ad valorem special assessments:		
Special assessment rate FYE 9/30/2021	Operations and maintenance -	
	$0.10 per SqFt and $0.02 SqFt	
	Debt Service Series 2007 -	
	$0.90 per SqFt and $0.16 SqFt	
Special assessments collected FYE 9/30/2021	Operations and maintenance - $74,731.28	
	Debt Service Series 2007 - $654,692.21	
Outstanding Bonds:		
Series 2007, due May 1, 2038, see Note 6 for details	$6,655,000	

951 Yamato Road ▪ Suite 280 Boca Raton, Florida 33431 (561) 994-9299 ▪ (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

To the Board of Supervisors
OTC Community Development District City of Jacksonville, Florida

We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities and each major fund of OTC Community Development District, City of Jacksonville, Florida (“District”) as of and for the fiscal year ended September 30, 2021, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our opinion thereon dated April 18, 2022.
Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the District’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.
Compliance and Other Matters
As part of obtaining reasonable assurance about whether the District’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

Purpose of this Report

The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.

April 18, 2022

INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE WITH THE REQUIREMENTS OF SECTION 218.415, FLORIDA STATUTES, REQUIRED BY RULE 10.556(10) OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

To the Board of Supervisors
OTC Community Development District City of Jacksonville, Florida

We have examined OTC Community Development District, City of Jacksonville, Florida’s (“District”) compliance with the requirements of Section 218.415, Florida Statutes, in accordance with Rule 10.556(10) of the Auditor General of the State of Florida during the fiscal year ended September 30, 2021. Management is responsible for District’s compliance with those requirements. Our responsibility is to express an opinion on District’s compliance based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether the District complied, in all material respects, with the specified requirements referenced in Section 218.415, Florida Statutes. An examination involves performing procedures to obtain evidence about whether the District complied with the specified requirements. The nature, timing, and extent of the procedures selected depend on our judgment, including an assessment of the risks of material noncompliance, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion. Our examination does not provide a legal determination on the District’s compliance with specified requirements.

In our opinion, the District complied, in all material respects, with the aforementioned requirements for the fiscal year ended September 30, 2021.

This report is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, management, and the Board of Supervisors of OTC Community Development District, City of Jacksonville, Florida and is not intended to be and should not be used by anyone other than these specified parties.

April 18, 2022

MANAGEMENT LETTER PURSUANT TO THE RULES OF THE AUDITOR GENERAL FOR THE STATE OF FLORIDA

To the Board of Supervisors
OTC Community Development District City of Jacksonville, Florida

Report on the Financial Statements

We have audited the accompanying basic financial statements of OTC Community Development District, City of Jacksonville, Florida ("District") as of and for the fiscal year ended September 30, 2021, and have issued our report thereon dated April 18, 2022.

Auditor’s Responsibility

We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and Chapter 10.550, Rules of the Florida Auditor General.

Other Reporting Requirements

We have issued our Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance with Government Auditing Standards; and Independent Auditor’s Report on an examination conducted in accordance with AICPA Professional Standards, AT-C Section 315, regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in those reports, which are dated April 18, 2022, should be considered in conjunction with this management letter.

Purpose of this Letter

The purpose of this letter is to comment on those matters required by Chapter 10.550 of the Rules of the Auditor General for the State of Florida. Accordingly, in connection with our audit of the financial statements of the District, as described in the first paragraph, we report the following:

Current year findings and recommendations.
Status of prior year findings and recommendations.
Compliance with the Provisions of the Auditor General of the State of Florida.

Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, as applicable, management, and the Board of Supervisors of OTC Community Development District, City of Jacksonville, Florida and is not intended to be and should not be used by anyone other than these specified parties.

We wish to thank OTC Community Development District, City of Jacksonville, Florida and the personnel associated with it, for the opportunity to be of service to them in this endeavor as well as future engagements, and the courtesies extended to us.

April 18, 2022

REPORT TO MANAGEMENT

CURRENT YEAR FINDINGS AND RECOMMENDATIONS

None

PRIOR YEAR FINDINGS AND RECOMMENDATIONS

None

COMPLIANCE WITH THE PROVISIONS OF THE AUDITOR GENERAL OF THE STATE OF FLORIDA

Unless otherwise required to be reported in the auditor’s report on compliance and internal controls, the management letter shall include, but not be limited to the following:

A statement as to whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report.

There were no significant findings and recommendations made in the preceding annual financial audit report for the fiscal year ended September 30, 2020.

Any recommendations to improve the local governmental entity's financial management.

There were no such matters discovered by, or that came to the attention of, the auditor, to be reported for the fiscal year ended September 30, 2021.

Noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance.

There were no such matters discovered by, or that came to the attention of, the auditor, to be reported, for the fiscal year ended September 30, 2021.

The name or official title and legal authority of the District are disclosed in the notes to the financial statements.

The District has not met one or more of the financial emergency conditions described in Section 218.503(1), Florida Statutes.

We applied financial condition assessment procedures and no deteriorating financial conditions were noted as of September 30, 2021. It is management’s responsibility to monitor financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same.

Management has provided the specific information required by Section 218.39(3)(c) in the Other Information section of the financial statements on page 24.

EIGHTH ORDER OF BUSINESS

RESOLUTION 2022-08

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE OTC COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2022/2023 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW;	ADDRESSING	TRANSMITTAL,	POSTING	AND	PUBLICATION REQUIREMENTS; ADDRESSING SEVERABILITY; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has heretofore prepared and submitted to the Board of Supervisors (“Board”) of the OTC Community Development District (“District”) prior to June 15, 2022, a proposed budget (“Proposed Budget”) for the fiscal year beginning October 1, 2022 and ending September 30, 2023 (“Fiscal Year 2022/2023”); and

WHEREAS, the Board has considered the Proposed Budget and desires to set the required public hearing thereon.

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

PROPOSED BUDGET APPROVED. The Proposed Budget prepared by the District Manager for Fiscal Year 2022/2023 attached hereto as Exhibit A is hereby approved as the basis for conducting a public hearing to adopt said Proposed Budget.

SETTING A PUBLIC HEARING. A public hearing on said approved Proposed Budget is hereby declared and set for the following date, hour and location:
DATE:	July 13, 2022
HOUR:	10:30 a.m.
LOCATION:	Riverside Management Services, Inc.
9655 Florida Mining Blvd., Bldg. 300, Ste 305
Jacksonville, Florida 32257

TRANSMITTAL OF PROPOSED BUDGET TO LOCAL GENERAL PURPOSE GOVERNMENTS. The District Manager is hereby directed to submit a copy of the Proposed Budget to the City of Jacksonville and Duval County at least 60 days prior to the hearing set above.

POSTING OF PROPOSED BUDGET. In accordance with Section 189.016, Florida Statutes, the District’s Secretary is further directed to post the approved Proposed Budget on the District’s website at least two days before the budget hearing date as set forth in Section 2, and shall remain on the website for at least 45 days.

PUBLICATION OF NOTICE. Notice of this public hearing shall be published in the manner prescribed in Florida law.

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.
EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 11TH DAY OF MAY, 2022.
ATTEST:	OTC COMMUNITY
DEVELOPMENT DISTRICT

By:	

Secretary	Its:	

OTC
Community Development District

Fiscal Year 2023
Proposed Budget

OTC
Community Development District

TABLE OF CONTENTS

General Fund

Summary of Revenues and Expenses	Page 1

Narrative	Page 2-5

Series 2007A Debt Service Fund

Summary of Revenues and Expenses	Page 6

Amortization Schedule	Page 7

Capital Reserve Fund	Page 8

Proposed Operating Budget

Adopted	Actual as of		Projected		Projected		Proposed	
	Budget FY 22	3/31/2022		6 Months		9/30/2022		Budget FY 23	
Revenues									
Assessments - Tax Collector	$	74,525	$	73,031		$	1,494		$	74,525		$	74,525	
Carry Forward Surplus	$	7,714	$	7,714		$	-		$	7,714		$	9,723	
Total Revenues	
 $	82,239 	 $	80,745 		 $	1,494 		 $	82,239 		 $	84,248 	
Expenditures									
Administrative									
Supervisors	$	1,800	$	-		$	600		$	600		$	1,800	
FICA Expense	$	138	$	-		$	46		$	46		$	138	
Engineering Fees	$	2,000	$	-		$	1,000		$	1,000		$	2,000	
Attorney Fees	$	7,500	$	1,660		$	2,500		$	4,160		$	7,500	
Arbitrage	$	600	$	-		$	600		$	600		$	600	
Annual Audit	$	3,900	$	3,400		$	-		$	3,400		$	4,000	
Assessment Roll	$	5,000	$	5,000		$	-		$	5,000		$	5,000	
Dissemination	$	5,825	$	2,781		$	2,813		$	5,594		$	5,825	
Trustee Fees	$	3,600	$	3,500		$	-		$	3,500		$	3,600	
Management Fees - GMS	$	35,000	$	17,500		$	17,500		$	35,000		$	36,750	
Information Technology	$	1,675	$	837		$	840		$	1,677		$	2,010	
Website Maintenance	$	825	$	344		$	413		$	756		$	990	
Telephone	$	50	$	-		$	25		$	25		$	25	
Postage	$	400	$	32		$	150		$	182		$	200	
Printing & Binding	$	700	$	47		$	150		$	197		$	300	
Insurance	$	7,153	$	6,731		$	-		$	6,731		$	7,572	
Travel	$	250	$	-		$	125		$	125		$	250	
Legal Advertising	$	2,000	$	409		$	1,550		$	1,959		$	2,000	
Other Current Charges	$	1,000	$	68		$	300		$	368		$	966	
Office Supplies	$	100	$	1		$	95		$	96		$	100	
Dues, Licenses, Subscriptions	$	175	$	175		$	-		$	175		$	175	
Capital Outlay	$	100	$	-		$	100		$	100		$	-	
Maintenance									
Stormwater maintenance	$	2,448	$	-		$	1,224		$	1,224		$	2,448	
Total Expenditures	
 $	82,239 	 $	42,485 		 $ 30,030 		 $	72,515 		 $	84,248 	
Excess Revenues (Expenditures)	
 $	-		 $	38,259 		 $ (28,536)		 $	9,723 		 $	-		
						FY 2022		FY 2023	
	Net Assessments					$	74,525		$	74,525	
Discounts & Collections (7.5%)	 $	6,043 		 $	6,043 	
Gross Assessments	 $	80,568 		 $	80,568 	
Square Footage - 780,000				
Net Assessment per square ft	$	0.096		$	0.096	
Gross Assessment per Square Ft	$	0.103		$	0.103	

1

1

REVENUES:

Assessments

Annual assessments will be levied on all assessable property within the District to fund the operating budget for the fiscal year. The assessments will be collected by the Duval County Tax Collectors Office.

EXPENDITURES:

Administrative:

Supervisor Fees

The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year. The amount for the fiscal year is based upon 5 supervisors for 4 quarterly meetings.

FICA Expense

These expenses represent the Employer's share of Social Security and Medicare taxes withheld from the Board of Supervisors checks.

Engineering Fees

The District’s engineering firm, England Thims, and Miller, will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Attorney

The District’s legal counsel, Ke Law Group, will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Arbitrage

The District is required to annually have an arbitrage rebate calculation on the District’s Series 2007 Special Assessment Revenue Bonds. The District has contracted with Grau and Company to calculate the rebate liability and submit a report to the District.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The District has contracted Grau and Associates to conduct their annual audit.

Assessment Roll

Governmental Management Services, LLC serves as the District’s collection agent and certifies the District’s non-ad valorem assessments with the county tax collector.

Dissemination Agent

The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un- rated bond issues. The District has contracted with Governmental Management Services, LLC, the District’s bond underwriter, to provide this service.

Trustee Fees

The District’s Series 2007 Special Assessment Revenue Bonds are held by a trustee at Region’s Bank. The amount represents the fee for the administration of the District’s bond issue.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. These services are further outlined in Exhibit “A” of the Management Agreement. District website services are included in the GMS agreement to be compliant with section 189 of the Florida Statutes.

Information Technology
Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Website Maintenance
Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding

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

Insurance

The District’s General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance (FIA). The amount is based upon prior year’s premiums.

Travel

Expenses the Board of Supervisors may incur due to attending an OTC Community Development District meeting or other District related travel expenses.

Legal Advertising

The District is required to advertise various notices for Board meetings, public hearings etc. in a newspaper of general circulation.

Other Current Charges

This includes bank charges and any other miscellaneous expenses that are incurred during the year by the District.

Office Supplies

Miscellaneous 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.

Maintenance:

Storm water

The District has entered into an agreement with Jacksonville MZL, LLC for pond maintenance services dated January 2017. The agreement provides for Argyle to provide services related to District pond/storm water facilities and to maintain compliance with St. Johns Water River Management District permit #04-031- 65850-43.

Vendor	Monthly Amount	Annual Amount	

Jacksonville MZL, LLC	$204.00	$2,448

OTC
Community Development District
Debt Service Fund Series 2007A

	Adopted		Actual as of		Projected		Projected		Proposed	
 Description			 Budget FY 22 		 3/31/2022 		  6 Months 		  9/30/2022 		 Budget FY 23 	

Revenues											
Carry Forward Surplus (1)		$	270,415		$  303,292		$	-		$	303,292		$	353,522	
Assessments - Tax Collector		$	652,885		$  639,799		$	13,086		$	652,885		$	652,885	
Interest Income		$	100		$30		$	30		$	60		$	100	
Total Revenues		 $	979,050 		 $ 943,121 		 $	13,116 		 $	956,237 		 $ 1,006,507 	

Expenditures											
Series 2007A											
Interest 11/1		$	176,358		$  176,358		$	-		$	176,358		$	169,733	
Interest 5/1		$	176,358		$	-		$	176,358		$	176,358		$	169,733	
Principal 5/1		$	250,000		$	-		$	250,000		$	250,000		$	260,000	
Total Expenditures		 $	602,715 		 $ 176,358 		 $ 426,358 		 $	602,715 		 $  599,465 	
EXCESS REVENUES / (EXPENDITURES)		 $	376,335 		 $ 766,763 		 $ (413,241)		 $	353,522 		 $  407,042 	

(1) Carryforward Surplus is net of reserve fund requirements			
	11/01/2023 Interest Payment	$  162,842.5	
	
Net Assessments	
$  652,885	
	Discounts & Collections (7.5%)	 $	52,937 	
	Gross Assessments	 $  705,822 	
	Square Footage - 780,000
Net Assessemnts per square ft	
$	0.837	
	Gross Assessments per square ft	$	0.900	

OTC
Community Development District Series 2007A Special Assessment Bonds Amortization Schedule

DATE	RATE	PRINCIPAL	INTEREST	TOTAL

5/1/2022	5.30%	$	250,000	$	176,358	$	602,715	
11/1/2022	5.30%		$	169,733	$	596,090	
5/1/2023	5.30%	$	260,000	$	169,733		
11/1/2023	5.30%		$	162,843	$	592,575	
5/1/2024	5.30%	$	275,000	$	162,843		
11/1/2024	5.30%		$	155,555	$	593,398	
5/1/2025	5.30%	$	290,000	$	155,555		
11/1/2025	5.30%		$	147,870	$	593,425	
5/1/2026	5.30%	$	305,000	$	147,870		
11/1/2026	5.30%		$	139,788	$	592,658	
5/1/2027	5.30%	$	320,000	$	139,788		
11/1/2027	5.30%		$	131,308	$	591,095	
5/1/2028	5.30%	$	340,000	$	131,308		
11/1/2028	5.30%		$	122,298	$	593,605	
5/1/2029	5.30%	$	360,000	$	122,298		
11/1/2029	5.30%		$	112,758	$	595,055	
5/1/2030	5.30%	$	380,000	$	112,758		
11/1/2030	5.30%		$	102,688	$	595,445	
5/1/2031	5.30%	$	400,000	$	102,688		
11/1/2031	5.30%		$	92,088	$	594,775	
5/1/2032	5.30%	$	420,000	$	92,088		
11/1/2032	5.30%		$	80,958	$	593,045	
5/1/2033	5.30%	$	445,000	$	80,958		
11/1/2033	5.30%		$	69,165	$	595,123	
5/1/2034	5.30%	$	465,000	$	69,165		
11/1/2034	5.30%		$	56,843	$	591,008	
5/1/2035	5.30%	$	495,000	$	56,843		
11/1/2035	5.30%		$	43,725	$	595,568	
5/1/2036	5.30%	$	520,000	$	43,725		
11/1/2036	5.30%		$	29,945	$	593,670	
5/1/2037	5.30%	$	550,000	$	29,945		
11/1/1937	5.30%		$	15,370	$	595,315	
5/1/2038	5.30%	$	580,000	$	15,370		
11/1/2038				$	595,370	
$ 6,655,000	$ 3,618,575	$ 10,699,933	

7

OTC
Community Development District
Capital Reserve Fund

 Description			Adopted
 Budget FY 22 		Actual as of
 3/31/2022 		Projected
  6 Months 		Projected
  9/30/2022			Proposed
 Budget FY 23 	

Revenues											
Interest Income		$	100		$	30		$	40		$	70		$	100	
Carry Forward Surplus		$	74,907		$	39,645		$	-		$	39,645		$	39,715	
Total Revenues		 $	75,007 		 $  39,675 		 $	40 		 $	39,715 		 $	39,815 	

Expenditures											

Capital Outlay	
$	
-	
$	
-	
$	
-	
$	
-	
$	
-	
Total Expenditures	 $	-			 $	-			 $	-			 $	-			 $	-		

 				

EXCESS REVENUES / (EXPENDITURES)

 $	75,007 

 $  39,675 

 $	40 

 $	39,715 

 $	39,815 

NINTH ORDER OF BUSINESS

AMENDMENT TO THE AGREEMENT FOR DISTRICT MANAGEMENT SERVICES

This Amendment (the “Amendment”) to the Agreement for District Management Services, dated December 11, 2006 as amended from time to time (the “Contract”) is made effective as of the 11th day of May 2022, by and between:

OTC Community Development District, a local unit of special purpose government established pursuant to Chapter 190, Florida Statutes having a mailing address of 475 West Town Place, Suite 114, St. Augustine, Florida 32092 (the “District”); and

Governmental Management Services, L.L.C., a Florida limited liability company, with offices located at 475 West Town Place, Suite 114, St. Augustine, Florida 32092 (the “Manager”).

RECITALS

WHEREAS, the District and the Manager previously entered into the Contract for the provision of district management services; and

WHEREAS, the District and the Manager wish to amend the Contract to include an insurance provision, an E-Verify provision, a financial advisor disclaimer, an updated address for notices sent to the District, a public records provision, and a revised indemnification provision; and

WHEREAS, the parties now desire to amend the Contract to provide accordingly.

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

RECITALS. The foregoing recitals are true and correct and by this reference are incorporated as a material part of this Amendment.

AMENDED ADDRESS FOR NOTICES. All notices required under the Contract shall be sent by certified mail, return receipt requested, or express mail with proof of receipt. If sent to the District, notice shall be sent to:

OTC Community Development District c/o District Counsel
KE Law Group, PLLC
2016 Delta Boulevard, Suite 101
Tallahassee, Florida 32303

AMENDED INDEMNIFICATION PROVISION. The indemnification provision set forth in the General Terms and Conditions of the Contract is replaced with the following:

To the extent allowable under applicable law and except to the extent caused by the gross negligence or willful misconduct of the District, the Manager agrees to defend (if required by the District), indemnify and hold the District and its supervisors, agents, employees, representatives, successors and assigns (together, the “District Indemnitees”) harmless from and against any and all demands, claims, causes of action, proceedings, obligations, settlements, liabilities,

damages, injunctions, penalties, liens, losses, charges and expenses of every kind or nature (including, without limitation, reasonable fees of attorneys and other professionals retained by the District in the event Manager fails to retain counsel to represent the District Indemnitees, who is reasonably acceptable to the District), incurred by the District Indemnitees arising out of or in connection with: (i) any management servicesto be provided by the Manager pursuant to this Contract; (ii) any failure by Manager to perform any of its obligations under this Contract; (iii) any accident, injury or damage to property or persons, if caused by the acts or omissions of Manager or Manager’s officers, partners, employees, contractors, subcontractors, invitees, representatives, or agents; (iv) any and all accidents or damage that may occur in connection with Managers or Manager’s officers, employees, contractors, subcontractors, invitees, representatives, or agents’ use of the District’s property; (v) any failure of Manager or Manager’s officers, employees, contractors, subcontractors, invitees, representatives, or agents to comply with any applicable codes, laws, ordinances, or governmental requirements, agreements, approvals, or permits affecting District property; and (vi) any other negligent, reckless, and/or intentionally wrongful acts or omissions of the Manager or its officers, partners, employees, contractors, subcontractors, invitees, representatives, or agents. The indemnification provided for herein shall not be deemed exclusive of any other rights to which the District Indemnitees may be entitled and shall continue after the Manager has ceased to be engaged under this Contract. The provisions of this paragraph shall survive the expiration or sooner termination of this Contract.

To the extent the Manager or its officers, partners, employees, contractors, subcontractors, invitees, representatives, or agents (together, the “Manager Indemnitees”) are serving as the District’s employees, officers, or agents pursuant to the terms, conditions and requirements of this Contract, and as may be allowable under applicable law (and without waiving the limitations of liability set forth in Section 768.28, Florida Statutes), the District agrees to indemnify, defend, and hold harmless the Manager Indemnitees from and against any and all liability, claims, actions, suits, demands, assessments or judgments asserted and any and all losses, liabilities, damages, costs, court costs, and expenses, including attorney's fees, that Manager Indemnitees may hereafter incur, become responsible for, or be caused to pay out arising out of or relating to the grossly negligent or intentionally wrongful acts or omissions of the District, except to the extent caused, in whole or in part, by the negligence or recklessness and/or willful misconduct of the Manager Indemnitees. The District’s obligation to defend, indemnify, and hold harmless the Manager Indemnitees as set forth herein shall not exceed the monetary limits of any endorsement listing the Manager or Manager Indemnitees as an additional insured party under the District’s insurance policy. If there is no such endorsement, the District’s defense, indemnity, and hold harmless obligations as set forth in this Section shall not exceed the monetary limitations of liability set forth in Section 768.28, Florida Statutes. The indemnification provided for herein shall not be deemed exclusive of any other rights to which the Manager may be entitled and shall continue after the Manager has ceased to be engaged under this Contract.

INSURANCE REQUIREMENTS. Manager shall, at its own expense, maintain insurance during the performance of the Services under this Contract, with limits of liability not less than the following:

Workers’ Compensation	Statutory	
General Liability
Bodily Injury (including contractual)	
$1,000,000	
Property Damage (including contractual)	$1,000,000	
Commercial Crime/Fidelity Insurance	$1,000,000	
Professional Liability Insurance	$2,000,000	
Automobile Liability (if applicable)*
Bodily Injury and Property Damage	
$1,000,000	
Covering owned, non-owned, and hired vehicles		

*Automobile liability insurance is required if the Manager will use any vehicles on-site, including owned, non-owned, and hired vehicles.

The District and its agents, staff, consultants and supervisors shall be named as additional insureds on the General Liability Insurance, Commercial Crime/Fidelity Insurance, and Automobile Liability Insurance. Contractor shall furnish the District with the Certificate of Insurance evidencing compliance with this requirement. Coverage for additional insureds shall apply as primary and non-contributing insurance before any other insurance or self-insurance, including any deductible, maintained by or provided to the additional insured. No certificate shall be acceptable to the District unless it provides that any change or termination within the policy periods of the insurance coverages, as certified, shall not be effective within thirty (30) days of prior written notice to the District. Insurance coverage shall be from a reputable insurance carrier, licensed to conduct business in the State of Florida, and such carrier shall have a Best’s Insurance Reports rating of at least A-VII.

If Manager fails to have secured and maintained the required insurance, the District has the right (without any obligation to do so, however), to secure such required insurance in which event Manager shall pay the cost for that required insurance and shall furnish, upon demand, all information that may be required in connection with the District’s obtaining the required insurance.

FINANCIAL SERVICES DISCLAIMER. The District acknowledges that the Manager is not a Municipal Advisor or Securities Broker, nor is the Manager registered to provide such services as described in Section 15B of the Securities and Exchange Act of 1934, as amended. Similarly, the District acknowledges that the Manager will not provide the District with financial advisory services or offer investment advice.

E-VERIFY. Effective immediately, the Manager shall comply with and perform all applicable provisions of Section 448.095, Florida Statutes. Accordingly, to the extent required by Florida Statutes, Manager shall register with and use the United States Department of Homeland Security’s E-Verify system to verify the work authorization status of all newly hired employees and shall comply with all requirements of Section 448.095, Florida Statutes, as to the use of subcontractors. The District may terminate the Contract immediately for cause if there is a good faith belief that the Manager has knowingly violated Section 448.091, Florida Statutes. By entering into this Amendment, the Manager represents that no public employer has terminated a contract with the Manager under Section 448.095(2)(c), Florida Statutes, within the year immediately preceding the date of this Amendment.

PUBLIC RECORDS. Manager acknowledges that the Contract and all the documents pertaining thereto may be public records and subject to the provisions of Chapter 119, Florida Statutes.

IF THE MANAGER HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE MANAGER’S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (904) 940-5850 OR BY EMAIL AT JOLIVER@GMSNF.COM OR BY REGULAR MAIL AT 475 WEST TOWN PLACE, SUITE 114, ST. AUGUSTINE, FLORIDA 32092.
AUTHORITY. By execution below, the undersigned represent that they have been duly authorized by the appropriate body or official of their respective entity to execute this Amendment, and that the respective parties have complied with all requirements of law and have full power and authority to comply with the terms and provisions of this Amendment.

CONFLICTS. The Contract remains in full force and effect, except to the extent expressly amended pursuant to this Amendment.

[Signatures on following page]

IN WITNESS WHEREOF, the parties have caused this instrument to be executed by their duly authorized officers to be effective as of the day and year first above written.

OTC COMMUNITY DEVELOPMENT DISTRICT

By:	 Name:	 Title:	

GOVERNMENTAL MANAGEMENT SERVICES, L.L.C

By:	 Name:	 Title:	

TWELFTH ORDER OF BUSINESS

A.

OTC
Community Development District
Unaudited Financial Reporting March 31, 2022

OTC
Community Development District Combined Balance Sheet
March 31, 2022

Governmental Fund Types	Totals
Debt	Capital	(Memorandum Only)

Assets:		General				Service				Reserve				2022		
Cash Investments:
Reserve	$90,882

---		---

$298,048		$39,645

---		$130,528

$298,048	
Revenue	---		$724,329		---		$724,329	
Sinking	---		$1		---		$1	
Redemption	---		$133		---		$133	
Due from General Fund	---		$5,187		---		$5,187	
Assessment Receivable		$498 			$4,366 			--- 			$4,865 	
Total Assets		$91,381 			$1,032,064 			$39,645 			$1,163,090 	
Liabilities:
Accounts Payable	

$259		

---		

---		

$259	
Due to Debt Service	$5,187		---		---		$5,187	
Fund Balances:
Restricted for Debt Service	
---		
$1,032,064		
---		
$1,032,064	
Unassigned		$85,935 			--- 			$39,645 			$125,580 	
Total Liabilities and Fund Equity		$91,381 			$1,032,064 			$39,645 			$1,163,090 	

OTC
Community Development District Statement of Revenues & Expenditures For The Period Ending March 31, 2022

ADOPTED	PRORATED
BUDGET	
ACTUAL		
Description	BUDGET	THRU 3/31/22	THRU 3/31/22	VARIANCE	

Revenues:					
Assessments-Tax Collector	$74,525	$73,031	$73,031	$0	
Total Revenues	$74,525	$73,031	$73,031	$0	

Expenditures					
Administrative					
Supervisors	$1,800	$900	$0	$900	
FICA Expense	$138	$69	$0	$69	
Engineering Fees	$2,000	$1,000	$0	$1,000	
Attorney Fees	$7,500	$3,750	$1,660	$2,091	
Arbitrage	$600	$300	$0	$300	
Annual Audit	$3,900	$3,900	$3,400	$500	
Assessment Roll	$5,000	$5,000	$5,000	$0	
Dissemination	$5,825	$2,913	$2,781	$131	
Trustee Fees	$3,600	$3,600	$3,500	$100	
Management Fees - GMS	$35,000	$17,500	$17,500	($0)	
Information Technology	$1,675	$838	$837	$0	
Website Maintenance	$825	$413	$344	$69	
Telephone	$50	$25	$0	$25	
Postage	$400	$200	$32	$168	
Printing & Binding	$700	$350	$47	$303	
Insurance	$7,153	$7,153	$6,731	$422	
Travel	$250	$125	$0	$125	
Legal Advertising	$2,000	$1,000	$409	$591	
Other Current Charges	$1,000	$500	$68	$432	
Office Supplies	$100	$50	$1	$49	
Dues, Licenses, Subscriptions	$175	$175	$175	$0	
Capital Outlay	$100	$50	$0	$50	
Total Administrative Expenses	$79,791	$49,809	$42,485	$7,324	

Maintenace					
Stormwater Maintenance	$2,448	$1,224	$0	$1,224	
Total Maintenance Expenses	$2,448	$1,224	$0	$1,224	
					
Total Expenditures	$82,239	$51,033	$42,485	$8,548	
					
Excess Revenues/Expenses	($7,714)		$30,546		

Net Change in Fund Balance	
($7,714)		
$30,546		
Fund Balance - Beginning	$0		$55,389		

Carry Forward Surplus	
$7,714		
$0		
Fund Balance - Ending	$0		$85,935		

OTC
Community Development District General Fund
Month By Month Income Statement Fiscal Year 2022

October	
November	
December	
January	
February	
March	
April		
May		
June		
July		
August		
September	
Total	
Revenues:																			
Assessments-Tax Collector	$0	$27,848	$44,093	$0	$0	$1,090		$0		$0		$0		$0		$0	$0	$73,031	
Total Revenues	$0	$27,848	$44,093	$0	$0	$1,090		$0		$0		$0		$0		$0	$0	$73,031	

Expenditures:																			
Administrative
Supervisors	
$0	
$0	
$0	
$0	
$0	
$0		
$0		
$0		
$0		
$0		
$0	
$0	
$0	
FICA Expense	$0	$0	$0	$0	$0	$0		$0		$0		$0		$0		$0	$0	$0	
Engineering Fees	$0	$0	$0	$0	$0	$0		$0		$0		$0		$0		$0	$0	$0	
Attorney Fees	$453	$175	$183	$205	$385	$259		$0		$0		$0		$0		$0	$0	$1,660	
Arbitrage	$0	$0	$0	$0	$0	$0		$0		$0		$0		$0		$0	$0	$0	
Annual Audit	$0	$0	$0	$0	$0	$3,400		$0		$0		$0		$0		$0	$0	$3,400	
Assessment Roll	$5,000	$0	$0	$0	$0	$0		$0		$0		$0		$0		$0	$0	$5,000	
Dissemination	$438	$469	$469	$469	$469	$469		$0		$0		$0		$0		$0	$0	$2,781	
Trustee Fees	$3,500	$0	$0	$0	$0	$0		$0		$0		$0		$0		$0	$0	$3,500	
Management Fees - GMS	$2,917	$2,917	$2,917	$2,917	$2,917	$2,917		$0		$0		$0		$0		$0	$0	$17,500	
Information Technology	$140	$140	$140	$140	$140	$140		$0		$0		$0		$0		$0	$0	$837	
Website Maintenance	$0	$69	$69	$69	$69	$69		$0		$0		$0		$0		$0	$0	$344	
Telephone	$0	$0	$0	$0	$0	$0		$0		$0		$0		$0		$0	$0	$0	
Postage	$2	$3	$0	$1	$26	$1		$0		$0		$0		$0		$0	$0	$32	
Printing & Binding	$2	$0	$2	$6	$3	$34		$0		$0		$0		$0		$0	$0	$47	
Insurance	$6,731	$0	$0	$0	$0	$0		$0		$0		$0		$0		$0	$0	$6,731	
Travel	$0	$0	$0	$0	$0	$0		$0		$0		$0		$0		$0	$0	$0	
Legal Advertising	$313	$0	$0	$97	$0	$0		$0		$0		$0		$0		$0	$0	$409	
Other Current Charges	$35	$0	$25	$0	$0	$7		$0		$0		$0		$0		$0	$0	$68	
Office Supplies	$0	$0	$0	$0	$0	$0		$0		$0		$0		$0		$0	$0	$1	
Dues, Licenses, Subscriptions	$175	$0	$0	$0	$0	$0		$0		$0		$0		$0		$0	$0	$175	
Capital Outlay	$0	$0	$0	$0	$0	$0		$0		$0		$0		$0		$0	$0	$0	
Total Administrative	$19,704	$3,773	$3,803	$3,902	$4,008	$7,295		$0		$0		$0		$0		$0	$0	$42,485	

Maintenace
Stormwater Maintenance	

$0	

$0	

$0	

$0	

$0	

$0		

$0		

$0		

$0		

$0		

$0	

$0	

$0	
Total Maintenance	$0	$0	$0	$0	$0	$0		$0		$0		$0		$0		$0	$0	$0	
																			
Total Expenditures	$19,704	$3,773	$3,803	$3,902	$4,008	$7,295		$0		$0		$0		$0		$0	$0	$42,485	
																			
Excess Revenues (Expenditures)	($19,704)	$24,075	$40,290	($3,902)	($4,008)	($6,205)		$0		$0		$0		$0		$0	$0	$30,546	

Debt Service Fund Statement of Revenues & Expenditures For The Period Ending March 31, 2022

ADOPTED	PRORATED
BUDGET	
ACTUAL		
Description	BUDGET	THRU 3/31/22	THRU 3/31/22	VARIANCE	

Revenues:					
Assessment - On Roll	$652,885	$639,799	$639,799	$0	
Interest Income	$100	$50	$30	($20)	
Total Revenues	$652,985	$639,849	$639,829	($20)	

Expenditures					
Series 2007
Interest Expense - 11/1	
$176,358	
$176,358	
$176,358	
$0	
Interest Expense - 5/1	$176,358	$0	$0	$0	
Principal Expense - 5/1	$250,000	$0	$0	$0	
Total Expenditures	$602,715	$176,358	$176,358	$0	
					
Excess Revenues (Expenditures)	$50,270		$463,471		
					
Fund Balance - Beginning	$323,665		$568,593		
					
Fund Balance - Ending	$373,935		$1,032,064		

Capital Reserve Fund Statement of Revenues & Expenditures For The Period Ending March 31, 2022

ADOPTED	PRORATED
BUDGET	
ACTUAL		
Description	BUDGET	THRU 3/31/22	THRU 3/31/22	VARIANCE	

Revenues:

Interest - SBA	

$100	

$50	

$30	

($20)	
Total Revenues	$100	$50	$30	($20)	

Expenditures

Capital Outlay	

$0	

$0	

$0	

$0	
Total Expenditures	$0	$0	$0	$0	
					
Excess Revenues (Expenditures)	$100		$30		

Net Change in Fund Balance	
$100		
$30		
Fund Balance - Beginning	$81,131		$39,615		
					
Fund Balance - Ending	$81,231		$39,645		

OTC
Community Development District Long Term Debt Report

Series 2007A Special Assessments Bonds		
Interest Rate:	5.33%	
Maturity Date:	5/1/2038	
Reserve Fund Definition:	50% Max Annual Debt	
Reserve Fund Requirement:	$298,045.00	
Reserve Fund Balance:	$298,047.98	

Bonds outstanding - 9/30/2013	
$8,850,000	
Less: November 1, 2013 (Special Call)	($15,000)	
Less: May 1, 2014 (Mandatory)	($175,000)	
Less: November 1, 2014 (Special Call)	($15,000)	
Less: May 1, 2015 (Mandatory)	($230,000)	
Less: November 1, 2015 (Special Call)	($15,000)	
Less: May 2, 2016 (Mandatory)	($210,000)	
Less: November 1, 2016 (Special Call)	($20,000)	
Less: May 1, 2017 (Mandatory)	($215,000)	
Less: November 1, 2017 (Special Call)	($230,000)	
Less: May 1, 2018 (Mandatory)	($210,000)	
Less: May 1, 2019 (Mandatory)	($225,000)	
Less: May 1, 2020 (Mandatory)	($235,000)	
Less: May 1, 2020 (Special Call)	($140,000)	
Less: November 1, 2020 (Special Call)	($20,000)	
Less: May 1, 2021(Mandatory)	($235,000)	
Less: May 1, 2021 (Special Call)	($5,000)	
Current Bonds Outstanding	$6,655,000	

B.

OTC COMMUNITY DEVELOPMENT DISTRICT	
SUMMARY OF FY2022 ASSESSMENT RECEIPTS	

TOTAL TAX ROLL	# UNITS
ASSESSED	
DEBT ASSESSED	
O&M ASSESSED	TOTAL
ASSESSED	
NET REVENUE TAX ROLL	780,000
 		652,885.01	74,525.00	727,410.01	

SUMMARY TAX ROLL COLLECTIONS	
DUVAL COUNTY
DISTRIBUTION	TOTAL
RECEIVED	SERIES 2007 DEBT
RECEIVED	
O&M RECEIVED	DATE
RECEIVED	
1	-	-	-	11/10/21	
2	271,811.80	243,963.99	27,847.81	11/19/21	
3	-	-	-	12/06/21	
4	192,952.02	173,183.60	19,768.42	12/08/21	
5	4,669.94	4,191.49	478.45	12/09/21	
6	232,752.71	208,906.60	23,846.11	12/22/21	
7	-	-	-	01/11/22	
8	-	-	-	01/21/22	
9	-	-	-	02/09/22	
10	-	-	-	03/07/22	
11	5,779.05	5,186.97	592.08	03/23/22	
12	4,864.52	4,366.14	498.38	04/21/22	
		-	-		
		-	-		
		-	-		
		-	-		
		-	-		
		-	-		
		-	-		
		-	-		
TOTAL COUNTY
DISTRIB.	
712,830.04	
639,798.79	
73,031.25		

BALANCE DUE	
14,579.97	
13,086.22	
1,493.75		

% COLLECTED	98.0%	

C.

OTC
Community Development District
Check Run Summary from 2/1/22 thru 4/30/22

Fund	Date	Check Numbers	Amount	

General Fund				
Payroll			
$	-	
		Subtotal	 $	-		
Accounts Payable				
	2/11/22	732-735	$	7,525.09	
	3/14/22	736	$	386,281.69	
	3/15/22	737-739	$	7,414.23	
	3/23/22	740-741	$	350.00	
	4/7/22	742-743	$	3,899.38	
		Subtotal	 $	405,470.39 	
Total			$	405,470.39	

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	5/01/22	PAGE	1
*** CHECK DATES 02/01/2022 - 04/30/2022 ***	OTC - GENERAL
BANK A OTC - GENERAL
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...	VENDOR NAME	STATUS	AMOUNT	....CHECK.....
DATE	DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS	AMOUNT	#

2/11/22 00002	1/01/22	
	1/01/22	
	1/01/22	
	1/01/22	
	1/01/22	
	1/01/22	
	1/01/22	

	*	2,916.67		
	*	68.75			
	*	139.58			
	*	468.75			
		*	.03			

207	202201 310-51300-34000
JAN MANAGEMENT FEES
207	202201 310-51300-35100
JAN WEBSITE ADMIN
207	202201 310-51300-35100
JAN INFORMATION TECH
207	202201 310-51300-31400
JAN DISSEM AGENT SERVICES
207	202201 310-51300-51000

202201 310-51300-42000	*	.53	
202201 310-51300-42500	*	6.26	

OFFICE SUPPLIES 207
POSTAGE 207
TELEPHONE
GOVERNMENTAL MANAGEMENT SERVICES	3,600.57 000732

2/11/22 00002	2/01/22	
	2/01/22	
	2/01/22	
	2/01/22	
	2/01/22	
	2/01/22	
	2/01/22	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 208	202202 310-51300-34000	*	2,916.67
FEB MANAGEMENT FEES
208	202202 310-51300-35100	*	68.75
FEB WEBSITE ADMIN
208	202202 310-51300-35100	*	139.58
FEB INFORMATION TECH
208	202202 310-51300-31400	*	468.75
FEB DISSEM AGENT SERVICES
208	202202 310-51300-51000	*	.33

202202 310-51300-42000	*	26.24	
202202 310-51300-42500	*	2.70	

OFFICE SUPPLIES 208
POSTAGE 208
COPIES
GOVERNMENTAL MANAGEMENT SERVICES	3,623.02 000733
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2/11/22 00010	1/27/22 22-00553 202201 310-51300-48000	*	96.50
NOTICE OF MTG BOS 1/27
JACKSONVILLE DAILY RECORD	96.50 000734
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2/11/22 00030	2/05/22 1215	202201 310-51300-31500	*	205.00
JAN GENERAL COUNSEL
KE LAW GROUP	205.00 000735
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3/14/22 00021	3/14/22 03142022 202203 300-20700-10100	*	173,183.60
DUVAL CNTY TAX DIST 3
3/14/22 03142022 202203 300-20700-10100	*	4,191.49
DUVAL CNTY TAX DIST 4
3/14/22 03142022 202203 300-20700-10100	*	208,906.60
DUVAL CNTY TAX DIST 5
OTC CDD - REVENUE ACCOUNT	386,281.69 000736
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
OTC	OAKLEAF	OKUZMUK

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	5/01/22	PAGE	2
*** CHECK DATES 02/01/2022 - 04/30/2022 ***	OTC - GENERAL
BANK A OTC - GENERAL
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...	VENDOR NAME	STATUS	AMOUNT	....CHECK.....
DATE	DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS	AMOUNT	#

3/15/22 00002	3/01/22	
	3/01/22	
	3/01/22	
	3/01/22	
	3/01/22	
	3/01/22	
	3/01/22	

209	202203 310-51300-34000	*	2,916.67
MAR MANAGEMENT FEES
209	202203 310-51300-35100	*	68.75
MAR WEBSITE ADMIN
209	202203 310-51300-35100	*	139.58
MAR INFORMATION TECH
209	202203 310-51300-31400	*	468.75
MAR DISSEM AGENT SERVICES
209	202203 310-51300-51000	*	.06

202203 310-51300-42000	*	1.06	
202203 310-51300-42500	*	34.36	

OFFICE SUPPLIES 209
POSTAGE 209
COPIES
GOVERNMENTAL MANAGEMENT SERVICES	3,629.23 000737
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3/15/22 00013	3/01/22 22134	202203 300-51300-32200	*	3,400.00
AUDIT FYE 9/30/21
GRAU AND ASSOCIATES	3,400.00 000738
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3/15/22 00030	3/06/22 1510	202202 310-51300-31500	*	385.00
FEB GENERAL COUNSEL
KE LAW GROUP	385.00 000739
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3/23/22 00030 12/07/21 886	202111 310-51300-31500	*	175.00
NOV MEETING (VIRTUAL)
KE LAW GROUP	175.00 000740
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 3/23/22 00030 10/03/21 335	202110 310-51300-31500	*	175.00
SEPT GENERAL COUNSEL
KE LAW GROUP	175.00 000741

	*	2,916.67	
	*	68.75	
	*	139.58	
	*	468.75	
	*	.09	
	*	1.59	

OKUZMUK	*	29.70	

4/07/22 00002	4/01/22	
	4/01/22	
	4/01/22	
	4/01/22	
	4/01/22	
	4/01/22	
	4/01/22	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 210	202204 310-51300-34000
APR MANAGEMENT FEES
210	202204 310-51300-35100
APR WEBSITE ADMIN
210	202204 310-51300-35100
APR INFORMATION TECH
210	202204 310-51300-31400
APR DISSEM AGENT SERVICES
210	202204 310-51300-51000
OFFICE SUPPLIES
210	202204 310-51300-42000
POSTAGE
210	202204 310-51300-42500
COPIES
OTC	OAKLEAF

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	5/01/22	PAGE	3
*** CHECK DATES 02/01/2022 - 04/30/2022 ***	OTC - GENERAL
BANK A OTC - GENERAL
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...	VENDOR NAME	STATUS	AMOUNT	....CHECK.....
DATE	DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS	AMOUNT	#
4/01/22 210	202204 310-51300-41000	*	15.25
TELEPHONE
GOVERNMENTAL MANAGEMENT SERVICES	3,640.38 000742
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4/07/22 00030	4/04/22 1841	202203 310-51300-31500	*	259.00
MAR GENERAL COUNSEL
KE LAW GROUP	259.00 000743
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A	405,470.39
TOTAL FOR REGISTER	405,470.39

OTC	OAKLEAF	OKUZMUK

OTCCDD
475 West Town Place St. Augustine, FL 32092

P.O. Number:

Description

Jfr

Hours/Qty	Rate	Amount

Management Fees - January 2022 001. 310 :5/'3. 34000
Website Administration - January 2022 001. '310.'51 . 3510 0
Information Technology- January 2022 00\. 310. 513. 3 5 I() O Dissemination Agent Services -January2022001. i ,o. '5 1I. 3l'10 0 Office Supplies	()ot . '3 JO . 513 . " I 6 c0
Postage	001. 310. 513. '/2.00D
Telephone	Ool.  oJO. qjJ'?,. '/ZGOO		2,916.67
68.75
139.58
468.75
0.03
0.53
6.26	2,916.67
68.75
139.58
468.75
0.03
0.53
6.26		

OTC COD
475 West Town Place
St. Augustine, FL 32092

P.O. Number:

Description

Pr
Hours/Qty	Rate	Amount

Management Fees - February 2022 00\. \0. 51 . 4000
Website Administration - February2022 I.,l0.'?l', 35100 lnfonnation Technology - February 2022 001. '? lO. Sl i. 351QO Dissemination Agent Services - February 2022 <rot - i 10 . '51'.?. 31 00
Office Supplies	OOI. o\O. '513. '51000
Postage	001. 310 .<;"13. 1/2000
Copies	001- '?>IQ.515.  /./2500		2,916.67
68.75
139.58
468.75
0.33
26.24
2.70	2,916.67
68.75
139.58
468.75
0.33
26.24
2.70	

Jacksonville Daily Record
A Division of
DAILY RECORD & OBSERVER, LLC
P.O. Box 1769 Jacksonville, FL 32201
(904) 356-2466
INVOICE	January 27, 2022
Date

Attn: Courtney Hogge GMS, LLC
475 WEST TOWN PLACE, STE 114
SAINT AUGUSTINE	FL	32092	\\)r°\
l,.,,o ,sr	.	o

Payment Due Upon Receipt

Serial # 22-00553D	PO/File# 			$96.50
Amount Due
Notice of Meeting of the Board of Supervisors

Amount Paid
OTC Community Development District		$96.50
Payment Due
Case Number Publication Dates 1/27

County

-Duval	

Payment is due before the Proof of Publication is released.

For your convenience, you may remit payment at https:/lwww. jaxdailyrecord.com/send-payment.

Your notice can be found at www.jaxdailyrecord.com
TERMS: Net 30 days. Past due amounts will be charged a finance charge of 1.5% per month.

Preliminary Proof Of Legal Notice
(This is not a proof of publication.)

Please read copy of this advertisement and advise us of any necessary corrections before further publications.

NOTICE OF MEETING OF THE BOARD OF SUPERVISORS OF THE OTC COMl\UJNITY
DEVELOPMENT DISTRICT
Notice is hereby given that the Board of Supervisors of the OTC Community Development Dis­ trict ("District") is scheduled to meet on Wednesday, February 9, 2022 at 10:30 a.m. at the offices of Riverside Management Ser­ vices, Inc., 9655 Florida Mining Boulevard West, Building 300, Suite 305, Jacksonville, Florida 32257 to consider any business that may properly come before the Board.
The meeting is open to the
public and will be conducted in accordance with the provisions of Florida Law for Communitv Development Districts. A copy of the agenda for this meeting may be obtained from the office of the District Manager, 475 West Town Place, Suite 114, St. Augustine, Florida 32092, (904) 940-5850,
etorres@gmsnf.com, or on the District's website, www.otccdd. com. The meeting may be contin­ ued to a date, time, and place to be specified on the record at the meeting. There may be occasions when one or more Supervisors will participate by telephone.
Any person requiring special accommodations at the meeting because of a disability or physi­ cal impairment should contact the Disllict Manager's Office at least forty-eight (48) hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dial­ ing 7-1-1, orl-800-955-8771(TTY)
/ l-800-955-8770 (Voice), for aid in contacting the Distrid Man­ ager's Office.
A person who decides to appeal any decision made by the Board with respect to any matter con­ sidered at the meeting is advised that this same person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, includ­ ing the testimony and evidence upon which the appeal is to be based.

Ernesto Torres
District Manager
Jan. 27	oo (22-00553D)

£ L!W	INVOICE

C  R  O  U  P

P.O. Box 6386 Tallahassee, Florida 32314

OTCCDD
475 West Town Place Suite 114 St. Augustine, Florida 32092

OTCDD-01

f	RECEIVED FEB O 7 2022

Invoice# 1215 Date: 02/05/2022 Due On: 03/07/2022

"3:)t,
I . la, 5/3. ''!>tr

OTC - GENERAL COUNSEL/MONTHLY MEETING

Type	Date	Notes	Quantity	Rate	Total

Service	 01/19/2022 Monitor legislation and prepare newsletter for same Service	01/31/2022 Confirm District's website is listed on DEC's site; audit
District website to ensure compliance with statutory
requirements for content; search county records to confirm recording of Public Facilities Report.

0.30	$350.00	$105.00

0.40	$250.00	$100.00

Total	$205.00

Detailed Statement of Account

Other Invoices

Invoice Number	.Due on	Amount Due	Payments Received	Balance Due	
335	11/02/2021	$175.00	$0.00	$175.00	
886	01/06/2022	$175.00	$0.00	$175.00	
Current Invoice					
Invoice Number	Due On	Amount Due	Payments Received	Balance Due	
1215	03/07/2022	$205.00	$0.00	$205.00	
			Outstanding Balance	$555.00	
			Total Amount Outstanding	$555.00	

Invoice# 1215 - 02/05/2022

Please make all amounts payable to: KE Law Group, PLLC Please pay within 30 days.

OTC
COMMUNITY DEVELOPMENT DISTRICT

General Fund

Check Request

Date	Amount	Autll_orized_By	

March 14.2022	
$3861281.69	
Oksana Kuzmuk	

Pa.:y_able to:		
	
OTC COD - Revenue Account #21		

I

 Date Check Needed:	Budget Category: ASAP		001.300.20700.10100
Intended Use of Funds Requested·
DUYAL COUNTY TAXES	

12/8/21 $	173 183.60  Duval Tax Dist 3	

12/9/21 $	4 191.49  Duval Tax Dist 4	

12/22/21 $	208,906.60  Duval Tax Dist 5	

$	386,281.69	

	

(Attach suooortinq documentation tor request.)	

Governmental Management Services, LLC
1001 Bradford Way
Kingston, TN 37763

Invoice

Bill To:
OTCCDD
475 West Town Place St. Augustine, FL 32092

Invoice#: 209
Invoice Date: 3/1/22
Due Date: 3/1/22
Case:
P.O. Number:

2
Description

Hours/Qty	Rate	Amount

Management Fees - March 2022	I, Jl'- H .-31{0 Website Administration - March 2022		 t,"'l10 - '1. 3S1 Information Technology- March 2022		I. 111> • s11. 3 n Dissemination Agent Services - March 2022 I, J11> .,S°IJ. l le./
Office Supplies I. '?:,111 • S 13 • fl 1> Postage , . '3 , o . '1 '?>.1.rz.o Copies I' .ZIO. s l'J • IIU		2,916.67
68.75
139.58
468.75
0.06
1.06
34.35	2,916.67
68.75
139.58
468.75
0.06
1.06
34.35	

Total	$3,629.22	
Payments/Credits	$0.00	
Balance Due	$3,629.22	

Grau and Associates
951 W. Yamato Road, Suite 280 Boca Raton, FL 33431- www.graucpa.com

Phone: 561-994-9299	Fax: 561-994-5823

OTC Community Development District 1001 Bradford Way
Kingston, TN 37763

Invoice No.	 22134 Date	03/01/2022
	13A	

SERVICE

Audit FYE 09/30/2021	$

AMOUN

3,400.00

/, 3 C>C .')} ,32-"L	Current Amount Due	$= 	_3AQJLO.Q

RECEIVED MAR O 1 2022

0 • 30	31-60	61 -90	91-120	Over 120	Balance	
3,400.00	0.00	0.00	0.00	0.00	3,400.00	
Payment due upon receipt.

£ L!W	INVOICE

C  R  O  !J  P

P.O. Box 6386 Tallahassee, Florida 32314

OTCCDD
475 West Town Place Suite 114 St. Augustine, Florida 32092

OTCDD-01

)t)(-\

RECEIVED MArt O 8 2022

l  I  ')lti •S,''?1«;'

Invoice# 1510 Date: 03/06/2022 Due On: 04/05/2022

OTC - GENERAL COUNSEUMONTHL Y MEETING

Type	Date	Notes	Quantity	Rate	Total	
Service	02/06/2022	Confer with disclosure counsel re: notice of trustee change and draft same	0.10	$350.00	$35.00	
Service	02/09/2022	Attend monthly Board meeting; follow up from same; confer re: ETM work authorization	0.70	$350.00	$245.00	
Service	02/11/2022	Monitor legislation and prepare newsletter for same	0.30	$350.00	$105.00	

Total	
$385.00	

Detailed Statement of Account

Other Invoices

l.nvoice Number	Due On	Amount Due	Payments Received	Balance Due	
335	11/02/2021	$175.00	$0.00	$175.00	
886	01/06/2022	$175.00	$0.00	$175.00	
Current Invoice					
Invoice Number	Due On	Amoun.t Due	Payments Received	Balance Due	
1510	04/05/2022	$385.00	$0.00	$385.00	
			Outstanding Balance	$735.00	
			Total Amount Outstanding	$735.00	

Invoice # 1510 - 03/06/2022

Please make all amounts payable to: KE Law Group, PLLC Please pay within 30 days.

LW
Q  A  D  U  P

P.O. Box 6386 Tallahassee, Florida 32314

INVOICE
Invoice # 335 Date: 10/03/2021 Due On: 11/02/2021

/

OTCCDD
475 West Town Place Suite 114 St. Augustine, Florida 32092

OTCDD-01

OTC - GENERAL COUNSEUMONTHL Y MEETING

Type	Date	Notes

Service	09/29/2021 Review status of pending district business and
upcoming agenda items.

").of\	C\? :,\'->
,..,_\ O ·':>
\.	"7

Quantity	Rate	Total

0.50	$350.00	$175.00

RECEIVED MAH 1 5 ZO.	Total	$175.00

Detailed Statement of Account

Other Invoices

Invoice Number	Due On	Amount Due	Payments Received	Balance Due	
886	01/06/2022	$175.00	$0.00	$175.00	
1510	04/05/2022	$385.00	$0.00	$385.00	
Current Invoice					
Invoice Number	Due On	Amount Due	Payments Received	Balance Due	
335	11/02/2021	$175.00	$0.00	$175.00	
			Outstanding Balance	$735.00	
			Total Amount Outstanding	$735.00	

Please make all amounts payable to: KE Law Group, PLLC Please pay within 30 days.

Invoice# 335 - 10/03/2021

£ L:.W	INVOICE

t;  R  O  1.J  P

P.O. Box 6386 Tallahassee, Florida 32314

oA-

Invoice # 886 Date: 12/07/2021 Due On: 01/06/2022

OTCCDD
475 West Town Place Suite 114 St. Augustine, Florida 32092

OTCDD-01

1 /'3ID ,513 .3/'S

OTC - GENERAL COUNSEL/MONTHLY MEETING

Type	Date	Notes	Quantity	Rate	Total

Service	11/10/2021 Attempt to attend meeting virtually (no connection) and
review landowner election documents to ensure consistency with law

0.50	$350.00	$175.00

Total	$175.00

Detailed Statement of Account

Other Invoices

REc£1v£0 MAK is	znzz

Invoice Number	Due On	Amount Due	Payments Received	Balance Due	
335	11/02/2021	$175.00	$0.00	$175.00	
1510	04/05/2022	$385.00	$0.00	$385.00	
Current Invoice					
Invoice Number	Due On	Amount Due	Payments Received	Balance Due	
886	01/06/2022	$175.00	$0.00	$175.00	
			Outstanding Balance	$735.00	
			Total Amount Outstanding	$735.00	

Please make all amounts payable to: KE Law Group, PLLC

Invoice# 886 - 12/07/2021

Please pay within 30 days.

Governmental Management Services, LLC
1001 Bradford Way
Kingston, TN 37763

Invoice

Bill To:
OTCCDD
475 West Town Place St. Augustine, FL 32092

Invoice#: 21O
Invoice Date: 4/1/22
Due Date: 4/1/22
Case:
P.O. Number:

Description	?.. A

Houra/Qty	Rate	Amount

Management Fees - April 2022	t , ") 1o . fT}  • "540
Website Administration -April 2022	I,  •t> •57'1• 3 n
Information Technology - April 2022		,I '"311> • S1'1•-3 51 Dissemination Agent Services - April 2022	I • "'5 / u	•	. "3 I'/
Office Supplies	t • '311) • 51'3 • >I u
Postage			l • 31o .S")"3 • l.f-z..o Copies	\ • 10		.51 "'3 • 4-i< Telephone		I, "3 tO ,57:i , 4f0		2,916.67	2,916.67	
		68.75	68.75	
		139.58	139.58	
		468.75	468.75	
		0.09	0.09	
		1.59	1.59	
		29.70	29.70	
		15.25	15.25	

Total	$3,640.38	
Payments/Credits	$0.00	
Balance Due	$3,640.38	

£  L:.W	INVOICE

C  R  O  tJ  P

KE Law Group, PLLC

Invoice# 1841 Date: 04/04/2022 Due On: 05/04/2022

P.O. Box 6386 Tallahassee, Florida 32314

OTCCDD
475 West Town Place Suite 114 St. Augustine, Florida 32092

OTCDD-01

-So A
1 .	-;	, u	,s··y1:, . -,-;

"S'""""

OTC - GENERAL COUNSEL/MONTHLY MEETING

Type	Professional	Date	Notes	Quantity	Rate	Total	
Service	JK	03/01/2022	Monitor legislation and prepare newsletter for same; analyze and transmit final legislative recap of bill passage.	0.30	$350.00	$105.00	
Service	JK	03/01/2022	Review auditor letter and audit request; transmit response to same	0.10	$350.00	$35.00	
Service	MG	03/02/2022	Draft Auditor letter response; confer with	0.70	$170.00	$119.00	

e)

Kilinski; finalize and transmit to auditor

Total

Detailed Statement of Account

,	RECEIVED APR O 5 2022

Current Invoice		
Invoice Number	Due On	Amount Due	Payments Received	Balance Due	
1841	05/04/2022	$259.00	$0.00	$259.00	
			Outstanding Balance	$259.00	
			Total Amount Outstanding	$259.00	

Please make all amounts payable to: KE Law Group, PLLC

Invoice # 1841 - 04/04/2022

Please pay within 30 days.