MINUTES OF MEETING
OTC COMMUNITY DEVELOPMENT DISTRICT

A regular meeting of the Board of Supervisors of the OTC Community Development District was held Wednesday, July 13, 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
Rose Bock	Vice Chairperson
Rocky Morris	Supervisor
Kurt von der Osten	Supervisor

Also present were:
Jim Oliver	District Manager
Jennifer Kilinski	District Counsel
Lo Etienne	Bond Counsel
Rhonda Mossing	MBS Capital Markets, LLC

The following is a summary of the discussions and actions taken at the July 13, 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 at 10:30 a.m. and called the roll.

SECOND ORDER OF BUSINESS	Audience Comments
There being none, the next item followed.

THIRD ORDER OF BUSINESS	Financing Matters
Consideration of Resolution 2022-09, Authorizing the Issuance of Bonds
Master Trust Indenture
First Supplemental Indenture
Ms. Etienne noted resolution 2022-09 authorizes the issuance and private placement of the Series 2022 refunding bonds. The master and supplemental trust indentures contain the terms of the bonds.

On MOTION by Mr. Morris seconded by Ms. Pierce with all in favor Resolution 2022-09 authorizing the issuance of the Series 2022 refunding bonds was approved.

Mr. von der Osten joined the meeting at this time.
Consideration of Supplemental Assessment Resolution 2022-10
Ms. Kilinski informed the Board resolution 2022-10 sets forth the terms of the bonds and assessments that will secure the bonds.

On MOTION by Mr. Morris seconded by Ms. Bock with all in favor supplemental assessment Resolution 2022-10 was approved.

Consideration of Notice of Assessments
Ms. Kilinski noted the notice of assessments will be recorded in the public record.

On MOTION by Ms. Bock seconded by Mr. Morris with all in favor the notice of assessments was approved.

FOURTH ORDER OF BUSINESS	Approval of Minutes
May 11, 2022 Regular Board Meeting
June 17, 2022 Special Meeting
There were no comments on the minutes.

On MOTION by Ms. Pierce seconded by Mr. Morris with all in favor the minutes of the May 11, 2022 regular Board of Supervisors meeting and June 17, 2022 special Board of Supervisors meeting were approved as presented.

FIFTH ORDER OF BUSINESS	Public Hearing for the Purpose of Adopting
the Fiscal Year 2023 Budget
Mr. Oliver noted the Fiscal Year 2023 budget has not changed since approval in May and reminded the Board there is no change in assessments. There is a change in expenditures for the general fund, however the increase will be covered by carry forward surplus. He also informed the Board that once the bonds are closed, the numbers for the Series 2022 bonds will be included in the debt service fund, which will reflect a reduction in the debt service assessments for the property owners.

On MOTION by Ms. Bock seconded by Mr. Morris with all in favor the public hearing was opened.

There were no members of the public present.

On MOTION by Mr. Morris seconded by Ms. Bock with all in favor the public hearing was closed.

Consideration of Resolution 2022-11, Relating to Annual Appropriations and Adopting the Budget for Fiscal Year 2023
Ms. Kilinski noted Resolution 2022-11 adopts the Fiscal Year 2023 budget. As Mr.
Oliver noted the budget will be amended to reflect the Series 2022 bonds once they’re closed.

On MOTION by Mr. Morris seconded by Mr. von der Osten with all in favor Resolution 2022-11, relating to annual appropriations and adopting the budget for fiscal year 2023 was approved.

Consideration of Resolution 2022-12, Imposing Special Assessments and Certifying an Assessment Roll
Ms. Kilinski noted Resolution 2022-12 levies the operations and maintenance assessment to secure the budget.

On MOTION by Ms. Pierce seconded by Mr. Morris with all in favor the Resolution 2022-12 imposing special assessments and certifying an assessment roll was approved.

SIXTH ORDER OF BUSINESS	Staff Reports
District Counsel
There being nothing to report, the next item followed.

District Engineer – Acceptance of the 2022 Annual Engineer’s Report
Mr. Oliver informed the Board the engineer’s report was prepared per the requirements of the master trust indenture, and noted the engineer finds that the CDD’s stormwater management facilities have been maintained in good condition.

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

District Manager – Consideration of Designating a Regular Meeting Schedule for Fiscal Year 2023
The proposed meeting schedule for Fiscal Year 2023 contains three meetings, one in the month of February, one in the month of May and one in the month of July.

On MOTION by Mr. Morris seconded by Mr. von der Osten with all in favor the meeting schedule for Fiscal Year 2023 was approved as presented.

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

EIGHTH 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 100% collected was included in the agenda package.

Approval of Check Registers
May
June
Copies of the check registers totaling $4,762.43 for May and $5,831.34 for June were included in the agenda package.

On MOTION by Mr. Morris seconded by Ms. Bock with all in favor the Check Registers were approved.

NINTH ORDER OF BUSINESS	Next Scheduled Meeting – February 8, 2022
at 10:30 a.m. at the offices of Riverside Management Services

TENTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Morris seconded by Ms. Pierce with all in favor the meeting was adjourned.

 	

Secretary/Assistant Secretary	Chairman/Vice Chairman