WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT COLLIER COUNTY REGULAR BOARD MEETING DECEMBER 1, 2015 1:00 P.M. Special District Services, Inc. The Oaks Center 2501A Burns Road Palm Beach Gardens, FL 33410 www.windingcypresscdd.org 561.630.4922 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile AGENDA WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT Sales Office 7225 Wiregrass Court Naples, Florida 34114 REGULAR BOARD MEETING AND RECONVENED PUBLIC HEARING 3 December 1, 2015 1:00 p.m. A. Call to Order B. Proof of Publication……………………………………………………………………………………..Page 1 C. Establish a Quorum D. Additions or Deletions to Agenda E. Comments from the Public for Items Not on the Agenda F. Approval of Minutes 1. November 3, 2015 Special Board Meeting, Initial Landowners’ Meeting & Public Hearing Minutes……………………………………………………………………………Page 3 G. Reconvened Public Hearing 3 – Levy Non Ad-Valorem Assessments H. Old Business I. New Business 1. Consider Approval of Interlocal Agreement for the Preparation and Submission of Non-Ad Valorem Assessment Roll and the Related Uniform Collection and Enforcement………………..Page 15 2. Consider Resolution No. 2015-26 – Delegation Resolution………………………………………Page 22 3. Consider Resolution No. 2015-27 – Statewide Mutual Aid……………………………………….Page 32 4. Consider Approval of Revised Master Special Assessment Methodology Report………………..Page 59 5. Consider Resolution No. 2015-28 – Supplement to the Assessment Resolution No. 2015-24……Page 79 J. Administrative Matters K. Board Members Comments L. Adjourn Page 1 Page 2 WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING, INITIAL LANDOWNERS’ MEETING & PUBLIC HEARINGS NOVEMBER 3, 2015 A. CALL TO ORDER The Special Board Meeting of the Winding Cypress Community Development District was called to order at 1:05 p.m. in the Sales Office located at 7225 Wiregrass Court, Naples, Florida 34114. B. PROOF OF PUBLICATION Proof of publication was presented that Notice of the Special Board Meeting had been published in the Naples Daily News on October 20, 2015, and October 27, 2015, as legally required. C. RECESS SPECIAL BOARD MEETING The Special Board Meeting was then recessed at 1:07 p.m. D. INITIAL LANDOWNERS’ MEETING 1. Call to Order The Initial Landowners’ Meeting was called to order at 1:07 p.m. in the Sales Office located at 7225 Wiregrass Court, Naples, Florida 34114. 2. Proof of Publication Proof of publication was presented that Notice of the Initial Landowners’ Meeting had been published in the Naples Daily News on October 9, 2015, and October 16, 2015, as legally required. 3. Establish a Quorum It was determined that a quorum was established with the following Landowners present: Scott Brooks Mike Hueniken Laura Ray Patrick Butler David Genson Present Present Present Present Present 4. Consider Adoption of Election Procedures There was a consensus of the Landowners present to adopt the Election Procedures. Page 1 of 12 Page 3 WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING, INITIAL LANDOWNERS’ MEETING & PUBLIC HEARINGS NOVEMBER 3, 2015 5. Election of Chair for Landowners’ Meeting Mr. Brooks was elected Chair for the Landowners’ Meeting by a consensus of the Landowners present. 6. Election of Secretary for Landowners’ Meeting Mr. Todd Wodraska was elected Secretary for the Landowners’ Meeting by a consensus of the Landowners present. 7. Election of Supervisors Determine Number of Voting Units Represented or Assigned by Proxy It was determined that there were 75 voting units represented or assigned by proxy. Nomination of Candidates The following candidates were nominated: Scott Brooks, Mike Hueniken, Laura Ray, Patrick Butler and David Genson. Casting of Ballots Ballots were then cast. Ballot Tabulations The following ballot tabulations were announced: Scott Brooks received 75 votes and he was elected to a 4-year term of office; Mike Hueniken received 75 votes and he was elected to a 4-year term of office; Laura Ray received 74 votes and she was elected to a 2-year term of office; Patrick Butler received 74 votes and he was elected to a 2-year term of office; and David Genson received 74 votes and he was elected to a 2-year term of office Certification of Results The results of the election were certified by Mr. Brooks. 8. Landowner Comments There were no comments from the Landowners. Page 2 of 12 Page 4 WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING, INITIAL LANDOWNERS’ MEETING & PUBLIC HEARINGS NOVEMBER 3, 2015 9. Adjournment There being no further business to address, the Initial Landowners’ Meeting was adjourned at 1:09 p.m. E. RECONVENE SPECIAL BOARD MEETING The Special Board Meeting was then reconvened at 1:09 p.m. F. SEAT NEW BOARD MEMBERS Mr. Todd Wodraska swore in the newly elected Board Members. G. ADMINISTER OATH OF RESPONSIBILITIES AND DUTIES H. OFFICE & REVIEW BOARD MEMBER ESTABLISH A QUORUM It was determined that the attendance of the following Supervisors constituted a quorum and it was in order to proceed with the meeting: Scott Brooks Mike Hueniken Laura Ray Patrick Butler David Genson Present Present Present Present Present Also present were the following Staff members: District Manager District Manager District Counsel District Counsel District Engineer Bond Counsel Kathleen Dailey Todd Wodraska Jonathan Johnson Alyssa Willson Josh Evans Stephen Sanford (via telephone) Special District Services, Inc. Special District Services, Inc. Hopping Green & Sams Hopping Green & Sams JR Evans Engineering Greenberg Traurig Also present was Peter L. Pimentel of Special District Services (via telephone). Page 3 of 12 Page 5 WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING, INITIAL LANDOWNERS’ MEETING & PUBLIC HEARINGS NOVEMBER 3, 2015 I. ELECTION OF OFFICERS The Board discussed officers of the District and approved the following slate with one motion: Chairman Scott Brooks Vice Chairman Mike Hueniken Treasurer/Assistant Secretary Todd Wodraska Secretary/Assistant Treasurer Kathleen Dailey Assistant Secretaries Laura Ray, Patrick Butler and David Genson A motion was made by Mr. Hueniken, seconded by Ms. Ray to appoint the above slate of officers of the Winding Cypress Community Development District, as presented. Upon being put to a vote, the motion carried 5 to 0. J. ADDITIONS OR DELETIONS TO THE AGENDA There were no additions or deletions to the agenda. K. COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA There were no comments from the public for items not on the agenda. L. APPROVAL OF MINUTES 1. September 22, 2015, Special Organizational Board Meeting The minutes of the September 22, 2015, Special Organizational Board Meeting were presented for approval. A motion was made by Ms. Ray, seconded by Mr. Brooks and passed unanimously to approve the minutes of the September 22, 2015, Special Organizational Board Meeting, as presented. Page 4 of 12 Page 6 WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING, INITIAL LANDOWNERS’ MEETING & PUBLIC HEARINGS NOVEMBER 3, 2015 M. CONSIDER RESOLUTION NO. 2015-21 – CANVASSING AND CERTIFYING THE RESULTS OF THE LANDOWNERS’ ELECTION Resolution No. 2015-21 was presented, entitled: RESOLUTION 2015-21 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT CANVASSING AND CERTIFYING THE RESULTS OF THE LANDOWNERS ELECTION OF SUPERVISORS HELD PURSUANT TO SECTION 190.006(2), FLORIDA STATUTES, AND PROVIDING FOR AN EFFECTIVE DATE A motion was made by Ms. Ray, seconded by Mr. Brooks and passed unanimously to adopt Resolution No. 2015-21, as presented. The Special Board Meeting was then recessed and Public Hearing 1 was called to order. N. PUBLIC HEARING 1 – Rules of Procedure 1. Proof of Publication Proof of publication was presented that Notice of Public Hearing 1 – Rules of Procedure had been published in the Naples Daily News on September 30, 2015 and October 1, 2015, as legally required. 2. Establish a Quorum It was determined that the attendance of the following Supervisors constituted a quorum and it was in order to proceed with the meeting: Chairman Vice Chairman Supervisor Supervisor Supervisor Scott Brooks Mike Hueniken Laura Ray Patrick Butler David Genson Present Present Present Present Present Also present were the following Staff members: District Manager District Manager District Counsel Kathleen Dailey Todd Wodraska Jonathan Johnson Special District Services, Inc. Special District Services, Inc. Hopping Green & Sams Page 5 of 12 Page 7 WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING, INITIAL LANDOWNERS’ MEETING & PUBLIC HEARINGS NOVEMBER 3, 2015 District Counsel District Engineer Bond Counsel Alyssa Willson Josh Evans Stephen Sanford (via telephone) Hopping Green & Sams JR Evans Engineering Greenberg Traurig Also present was Peter L. Pimentel of Special District Services (via telephone). 3. Receive Public Comment on Adopting the Rules of Procedure There was no public comment on the Adoption of the Rules of Procedure. 4. Consider Resolution No. 2015-22 – Adopting Rules of Procedure Resolution No. 2015-22 was presented, entitled: RESOLUTION 2015-22 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT ADOPTING RULES OF PROCEDURE; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. Ms. Willson explained the purpose of the resolution. A motion was then made by Mr. Hueniken, seconded by Ms. Ray and passed unanimously to adopt Resolution No. 2015-22, as presented. 5. Adjournment There being no further business to conduct, Public Hearing 1 was adjourned. Public Hearing 2 was then called to order. O. PUBLIC HEARING 2 – Uniform Method (Chapter 197.3632, F.S.) 1. Proof of Publication Proof of publication was presented that Notice of Public Hearing 2 – Uniform Method had been published in the Naples Daily News on October 6, 2015, October 13, 2015, October 20, 2015, and October 27, 2015, as legally required. 2. Establish a Quorum Page 6 of 12 Page 8 WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING, INITIAL LANDOWNERS’ MEETING & PUBLIC HEARINGS NOVEMBER 3, 2015 It was determined that the attendance of the following Supervisors constituted a quorum and it was in order to proceed with the meeting: Chairman Vice Chairman Supervisor Supervisor Supervisor Scott Brooks Mike Hueniken Laura Ray Patrick Butler David Genson Present Present Present Present Present Also present were the following Staff members: District Manager District Manager District Counsel District Counsel District Engineer Bond Counsel Kathleen Dailey Todd Wodraska Jonathan Johnson Alyssa Willson Josh Evans Stephen Sanford (via telephone) Special District Services, Inc. Special District Services, Inc. Hopping Green & Sams Hopping Green & Sams JR Evans Engineering Greenberg Traurig Also present was Peter L. Pimentel of Special District Services (via telephone). 3. Receive Public Comment on Intent to Utilize the Uniform Method of Levying, Collecting and Enforcing Non-Ad Valorem Assessments There was no public comment on the Intent to Utilize the Uniform Method of Levying, Collecting and Enforcing Non-Ad Valorem Assessments. 4. Consider Resolution No. 2015-23 – Intent to Utilize the Uniform Method of Levying, Collecting and Enforcing Non-Ad Valorem Assessments Resolution No. 2015-23 was presented, entitled: RESOLUTION 2015-23 RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT EXPRESSING ITS INTENT TO UTILIZE THE UNIFORM METHOD OF LEVYING, COLLECTING, AND ENFORCING NON AD VALOREM ASSESSMENTS WHICH MAY BE LEVIED BY THE WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT IN ACCORDANCE WITH SECTION 197.3632, FLORIDA STATUTES; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. Page 7 of 12 Page 9 WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING, INITIAL LANDOWNERS’ MEETING & PUBLIC HEARINGS NOVEMBER 3, 2015 Ms. Willson explained the resolution was in accordance with statutory requirements to have the option to place special assessments on tax bills once bonds are issued. Mr. Brooks asked if this means the assessment goes on the bills next year, not this year. Mr. Johnson opined that it is anticipated that the Board would be collecting via the uniform method, at the earliest, next year. A motion was then made by Mr. Brooks, seconded by Ms. Ray and passed unanimously to adopt Resolution No. 2015-23, as presented. 5. Adjournment There being no further business to conduct, Public Hearing 2 was adjourned. Public Hearing 3 was then called to order. P. PUBLIC HEARING 3 – Levy Non Ad-Valorem Assessments 1. Proof of Publication Proof of publication was presented that Notice of Public Hearing 3 – Levy of Non-Ad Valorem Assessments had been published in the Naples Daily News on October 20, 2015, and October 27, 2015, as legally required. 2. Establish a Quorum It was determined that the attendance of the following Supervisors constituted a quorum and it was in order to proceed with the meeting: Chairman Vice Chairman Supervisor Supervisor Supervisor Scott Brooks Mike Hueniken Laura Ray Patrick Butler David Genson Present Present Present Present Present Also present were the following Staff members: District Manager District Manager District Counsel District Counsel District Engineer Bond Counsel Kathleen Dailey Todd Wodraska Jonathan Johnson Alyssa Willson Josh Evans Stephen Sanford (via telephone) Special District Services, Inc. Special District Services, Inc. Hopping Green & Sams Hopping Green & Sams JR Evans Engineering Greenberg Traurig Also present was Peter L. Pimentel of Special District Services (via telephone). Page 8 of 12 Page 10 WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING, INITIAL LANDOWNERS’ MEETING & PUBLIC HEARINGS NOVEMBER 3, 2015 3. Receive Public Comment Regarding Intent to Levy Non-Ad Valorem Assessments There was no public comment regarding the District’s Intent to Levy Non-Ad Valorem Assessments. 4. Consider Adjusting and Equalizing Non-Ad Valorem Special Assessments Based on Comments from the Public It was determined that there were no members of the public present and therefore no public comments. 5. Consider Approval of the Project and the Levy of Special Assessments Ms. Willson explained the Chapter 170 hearing process, stating that the purpose of this public hearing is to consider public comment on the District’s intent to levy the master special assessments that are required as security for repayment in order for the District to issue special assessment bond, the proceeds of which will be used to fund the District’s infrastructure improvements. In order for the assessments to be valid, the land that is subject to the special assessments must receive a benefit from the improvements, and the special assessments must be reasonably apportioned among the lands subject to the special assessments. Although the special assessments will be levied upon the adoption of Resolution No. 2015-24, there will be no obligation for landowners to pay special assessments until bonds are actually issued by the District. Mr. Evans went over the Engineering Report. Ms. Willson asked Mr. Evans if, based on his professional experience, the cost estimates in the Engineer’s Report are reasonable and proper, and Mr. Evans responded yes. Ms. Willson asked Mr. Evans if he was aware of any reason to believe that the project cannot be carried out by the District, and Mr. Evans responded no. Mr. Wodraska went over the Methodology Report. Ms. Willson asked Mr. Wodraska whether, in his professional opinion, the lands subject to the assessments receive special benefits from the District’s Capital Improvement Program, and he responded yes. Ms. Willson asked Mr. Wodraska if, in his professional opinion, the Special Assessments are reasonably apportioned among the lands subject to the special assessments, and he responded yes. Ms. Willson asked Mr. Wodraska if, in his professional opinion, it is reasonable, proper and just to assess the costs of the Capital Improvement Program against the lands in the District in accordance with the methodology which results in the Special Assessments set forth on the final assessment roll, and he responded yes. Ms. Willson asked if it is Mr. Wodraska’s opinion that the special benefits the lands will receive, as set forth in the final assessment roll, will be equal to or in excess of the Maximum Special Assessments thereon when allocated as set forth in the methodology, and he responded yes. Ms. Willson asked if it is Mr. Wodraska’s opinion that it is in the best interests Page 9 of 12 Page 11 WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING, INITIAL LANDOWNERS’ MEETING & PUBLIC HEARINGS NOVEMBER 3, 2015 of the District that the Maximum Special Assessments be paid and collected in accordance with the methodology and the District’s assessment resolutions, and he responded yes. 6. Consider Resolution No. 2015-24 – (1) Intent to Levy Non-Ad Valorem Assessments; (2) Adopting of Final Assessment Roll Pursuant to Chapter 170 F.S. Resolution No. 2015-24 was presented, entitled: RESOLUTION 2015-24 A RESOLUTION AUTHORIZING DISTRICT PROJECTS FOR CONSTRUCTION AND/OR ACQUISITION OF INFRASTRUCTURE IMPROVEMENTS; EQUALIZING, APPROVING, CONFIRMING, AND LEVYING SPECIAL ASSESSMENTS ON PROPERTY SPECIALLY BENEFITED BY SUCH PROJECTS TO PAY THE COST THEREOF; PROVIDING FOR THE PAYMENT AND THE COLLECTION OF SUCH SPECIAL ASSESSMENTS BY THE METHODS PROVIDED FOR BY CHAPTERS 170, AND 190, FLORIDA STATUTES; CONFIRMING THE DISTRICT'S INTENTION TO ISSUE SPECIAL ASSESSMENT BONDS; MAKING PROVISIONS FOR TRANSFERS OF REAL PROPERTY TO GOVERNMENTAL BODIES; PROVIDING FOR THE RECORDING OF AN ASSESSMENT NOTICE; PROVIDING FOR SEVERABILITY, CONFLICTS AND AN EFFECTIVE DATE. Ms. Willson read Resolution No. 2015-24 into the record and explained its purpose. She requested that the Board adopt the resolution, in form, to allow staff to make minor changes to statutory cites. A motion was made by Mr. Brooks, seconded by Ms. Ray and passed unanimously to approve Resolution No. 2015-24, in form. 7. Public Hearing 3 Continuance A motion was then made by Ms. Ray, seconded by Mr. Hueniken and passed unanimously to recess Public Hearing 3 until 1:00 p.m. on December 1, 2015, at the Sales Office located at 7225 Wiregrass Court, Naples, Florida 34114. The Special Board Meeting was then reconvened. Q. OLD BUSINESS Page 10 of 12 Page 12 WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING, INITIAL LANDOWNERS’ MEETING & PUBLIC HEARINGS NOVEMBER 3, 2015 There were no Old Business items to come before the Board. R. NEW BUSINESS 1. Consider Resolution No. 2015-25 – Adopting the Alternative Investment Guidelines Resolution No. 2015-25 was presented, entitled: RESOLUTION NO. 2015-25 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT, ADOPTING THE ALTERNATIVE INVESTMENT GUIDELINES FOR INVESTING PUBLIC FUNDS IN EXCESS OF AMOUNTS NEEDED TO MEET CURRENT OPERATING EXPENSES, IN ACCORDANCE WITH SECTION 218.415(17), FLORIDA STATUTES. Mr. Wodraska explained that these guidelines are recommended by the auditor in order to explain where funds will be invested. A motion was made by Ms. Ray, seconded by Mr. Hueniken and passed unanimously to adopt Resolution No. 2015-25, as presented. S. ADMINISTRATIVE MATTERS There were no Administrative Matters to come before the Board. T. BOARD MEMBER COMMENTS There were no comments from the Members of the Board. U. ADJOURNMENT There being no further business to come before the Board, Special Board Board Meeting was adjourned at 1:38 p.m. There were no objections. Page 11 of 12 Page 13 WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING, INITIAL LANDOWNERS’ MEETING & PUBLIC HEARINGS NOVEMBER 3, 2015 Chairman/Vice Chairman Secretary/Assistant Secretary Date Approved Page 12 of 12 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 RESOLUTION NO. 2015–26 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT (THE “DISTRICT”) AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $11,000,000 WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT, SPECIAL ASSESSMENT BONDS, SERIES 2015 (ASSESSMENT AREA ONE PROJECT) (THE “BONDS”) TO FINANCE CERTAIN PUBLIC INFRASTRUCTURE WITHIN THE DISTRICT; DETERMINING THE NEED FOR A NEGOTIATED LIMITED OFFERING OF THE BONDS AND PROVIDING FOR A DELEGATED AWARD OF SUCH BONDS; APPOINTING THE UNDERWRITER FOR THE LIMITED OFFERING OF THE BONDS; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND PURCHASE CONTRACT WITH RESPECT TO THE BONDS; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A FIRST SUPPLEMENTAL TRUST INDENTURE; AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER TRUST INDENTURE; APPROVING THE FORM OF AND AUTHORIZING THE DISTRIBUTION OF A PRELIMINARY LIMITED OFFERING MEMORANDUM; APPROVING THE EXECUTION AND DELIVERY OF A FINAL LIMITED OFFERING MEMORANDUM; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION OF A CONTINUING DISCLOSURE AGREEMENT, AND APPOINTING A DISSEMINATION AGENT; APPROVING THE APPLICATION OF BOND PROCEEDS; AUTHORIZING CERTAIN MODIFICATIONS TO THE ASSESSMENT METHODOLOGY REPORT AND ENGINEER’S REPORT; MAKING CERTAIN DECLARATIONS; PROVIDING FOR THE REGISTRATION OF THE BONDS PURSUANT TO THE DTC BOOK-ENTRY ONLY SYSTEM; AUTHORIZING THE PROPER OFFICIALS TO DO ALL THINGS DEEMED NECESSARY IN CONNECTION WITH THE ISSUANCE, SALE AND DELIVERY OF THE BONDS; AND PROVIDING FOR SEVERABILITY, CONFLICTS AND AN EFFECTIVE DATE. WHEREAS, the Winding Cypress Community Development District (the “District”) is a local unit of special-purpose government organized and existing in accordance with the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the “Act”), created by Ordinance No. 2015-7, duly enacted by the City Council of the City of Orlando, Florida, becoming effective on March 9, 2015 (the “Ordinance”); and WHEREAS, the District was created for the purpose of delivering certain community development services and facilities within and outside its jurisdiction; and WHEREAS, the Board of Supervisors of the District (herein, the “Board”) has previously adopted Resolution No. 2015-18 on March 26, 2015 (the “Initial Bond Resolution”), pursuant to which the District authorized the issuance of not to exceed $51,000,000 of its Special Page 22 Assessment Bonds to be issued in one or more series to finance all or a portion of the District’s capital improvement program; and WHEREAS, any capitalized term used herein and not otherwise defined shall have the meaning ascribed to such term in the Initial Bond Resolution; and WHEREAS, based on the current development plans of the Developer, the Board finds it necessary to finance a portion of the necessary public infrastructure necessary for the development within the District; and WHEREAS, the District has, pursuant to the Initial Bond Resolution, approved the form of and authorized the execution and delivery of the Master Trust Indenture (the “Master Indenture”) and First Supplemental Trust Indenture with Regions Bank, as the appointed trustee (the “Trustee”) ; and WHEREAS, the Board hereby determines to issue its Winding Cypress Community Development District Special Assessment Bonds, Series 2015 (Assessment Area One Project) (the “Bonds”) in the principal amount of not exceeding $11,000,000 for the purpose of providing funds to finance a portion of the public infrastructure within Assessment Area One (as herein defined) of the District – specifically, the “Assessment Area One Project” as described in the District’s Engineer’s Report dated June 25, 2015, as revised (“Engineer’s Report”); and WHEREAS, the Assessment Area One Project is hereby determined to be necessary to coincide with the Developer’s plan of development; and WHEREAS, in light of certain required changes, the Board hereby finds it necessary to approve the form of and authorize the execution and delivery of a new First Supplemental Trust Indenture (the “First Supplemental” and, together with the Master Indenture, the “Indenture”); and WHEREAS, there has been submitted to this meeting with respect to the issuance and sale of the Bonds and submitted to the Board forms of: (i) a Bond Purchase Contract with respect to the Bonds by and between fmsbonds, Inc., as the underwriter (the “Underwriter”) and the District, together with the form of a disclosure statement attached to the Bond Purchase Contract pursuant to Section 218.385, Florida Statutes, substantially in the form attached hereto as Exhibit A (the “Bond Purchase Contract”); (ii) a Preliminary Limited Offering Memorandum substantially in the form attached hereto as Exhibit B (the “Preliminary Limited Offering Memorandum”); (iii) a Continuing Disclosure Agreement among the District, the dissemination agent named therein and the obligated parties named therein, substantially in the form attached hereto as Exhibit C; and (iv) the First Supplemental between the District and the Trustee, substantially in the form attached hereto as Exhibit D. 2 Page 23 WHEREAS, in connection with the sale of the Bonds, it may be necessary that certain modifications be made to the Supplemental Assessment Methodology for Assessment Area One dated July 23, 2015 (“Assessment Methodology Report”) and the Engineer’s Report to conform such reports to the final terms of the Bonds; and WHEREAS, the proceeds of the Bonds shall also fund a debt service reserve account, provide for capitalized interest on the Bonds and pay the costs of the issuance of the Bonds. NOW, THEREFORE, BE IT RESOLVED by the Board of Supervisors of the Winding Cypress Community Development District (the “Board”), as follows: Section 1. Negotiated Limited Offering of Bonds. The District hereby finds that because of the complex nature of assessment bond financings and the volatile conditions prevailing in the market for special assessment bonds makes it necessary and in the best interest of the District that the Bonds, in the aggregate principal amount of not exceeding $11,000,000, be sold on a negotiated limited offering basis. The District hereby further finds that it will not be adversely affected if the Bonds are not sold pursuant to competitive sales. Section 2. Purpose; Assessment Area Designation. The District has authorized its capital improvement plan for Phase 1, as set forth in the Engineer’s Report, and hereby authorizes the financing of a portion of the acquisition and construction of certain public infrastructure benefiting the assessable lands within an area hereby designated as “Assessment Area One” within the District by issuing the Bonds to finance a portion of the Assessment Area One Project. The Assessment Area One Project includes, but is not limited to, stormwater drainage facilities including related earthwork, water and sewer facilities, reclaimed water facilities, public roadway improvements, entrance features, landscaping in public rights-of-way and related costs, all as more particularly described in the Engineer’s Report. Section 3. Sale of the Bonds. Except as otherwise provided in the last sentence of this Section 3, the proposal submitted by the Underwriter offering to purchase the Bonds at the purchase price established pursuant to the parameters set forth below and on the terms and conditions set forth in the Bond Purchase Contract (attached hereto as Exhibit A), are hereby approved and adopted by the District in substantially the form presented. Subject to the last sentence of this Section 3, the Chairperson (or, in the absence of the Chairperson, any other member of the Board) is hereby authorized to execute and deliver on behalf of the District, and the Secretary of the District is hereby authorized (if so required) to affix the Seal of the District and attest to the execution of the Bond Purchase Contract in substantially the form presented at this meeting. The disclosure statements of the Underwriter, as required by Section 218.385, Florida Statutes, to be delivered to the District prior to the execution of the Bond Purchase Contract, a copy of which is attached as an exhibit to the Bond Purchase Contract, will be entered into the official records of the District. The Bond Purchase Contract, in final form as determined by counsel to the District, may be executed by the District without further action provided that (i) the Bonds mature not later than the statutory permitted period; (ii) the principal amount of the Bonds issued does not exceed $11,000,000; (iii) the average coupon rate on the Bonds shall not exceed 5.75% per annum; (iv) if the Bonds are subject to optional redemption which determination will be made on or before the sale date of the Bonds, the first optional call date shall be not later than November 1, 2029 and the redemption price shall be equal to the 3 Page 24 principal amount of Bonds redeemed; and (v) the purchase price to be paid by the Underwriter for the Bonds is not less than 97.5% of the principal amount of the Bonds issued (exclusive of any original issuance discount and underwriter’s counsel fee). Section 4. The Limited Offering Memorandum. The Limited Offering Memorandum, in substantially the form of the Preliminary Limited Offering Memorandum (as herein defined and subject to the other conditions set forth herein) attached hereto as Exhibit B, with such changes as are necessary to conform to the details of the Bonds and the requirements of the Bond Purchase Contract, is hereby approved. The District hereby authorizes the execution of the Limited Offering Memorandum and the District hereby authorizes the Limited Offering Memorandum, when in final form, to be used in connection with the limited offering and sale of the Bonds. The District hereby authorizes and consents to the use by the Underwriter of a Preliminary Limited Offering Memorandum substantially in the form attached hereto as Exhibit B, in connection with the Limited Offering of the Bonds (the “Preliminary Limited Offering Memorandum”). The final form of a Preliminary Limited Offering Memorandum shall be determined by the Underwriter and the professional staff of the District. The Limited Offering Memorandum may be modified in a manner not inconsistent with the substance thereof and the terms of the Bonds as shall be deemed advisable by the Bond Counsel and counsel to the District. The Chairperson (or, in the absence of the Chairperson, any other member of the Board) is hereby further authorized to execute and deliver on behalf of the District, the Limited Offering Memorandum and any amendment or supplement thereto, with such changes, modifications and deletions as the member of the Board executing the same may deem necessary and appropriate with the advice of Bond Counsel and counsel to the District, such execution and delivery to be conclusive evidence of the approval and authorization thereof by the District. The District hereby authorizes the Chairperson (or, in the absence of the Chairperson, any other member of the Board) to deem “final” the Preliminary Limited Offering Memorandum except for permitted omissions all within the meaning of Rule 15c2-12 of the Securities Exchange Act of 1934 and to execute a certificate in that regard. Section 5. Details of the Bonds. The proceeds of the Bonds shall be applied in accordance with the provisions of the Indenture. The Bonds shall mature in the years and in the amounts, bear interest at such rates and be subject to redemption, all as provided in the Indenture. The execution of the Indenture shall constitute approval of such terms as set forth in the Indenture and this Resolution. The maximum aggregate principal amount of the Bonds authorized to be issued pursuant to this Resolution and the Indenture shall not exceed $11,000,000. Section 6. Continuing Disclosure; Dissemination Agent. The Board does hereby authorize and approve the execution and delivery of a Continuing Disclosure Agreement by the Chairperson (or, in the absence of the Chairperson, any other member of the Board) substantially in the form presented to this meeting and attached hereto as Exhibit C. The Continuing Disclosure Agreement is being executed by the District and the other parties thereto in order to assist the Underwriter in the marketing of the Bonds and compliance with Rule 15c2-12 of the Securities and Exchange Commission. Governmental Management Services - Central Florida, LLC is hereby appointed the initial dissemination agent. 4 Page 25 Section 7. Authorization of Execution and Delivery of the Master Trust Indenture and the First Supplemental Trust Indenture. The District does hereby authorize and approve the execution by the Chairperson (or, in the absence of the Chairperson, the Vice Chairperson or any other member of the Board) and the Secretary and the delivery of the Indenture between the District and the Trustee, as defined below. The Indenture shall provide for the security of the Bonds and express the contract between the District and the owners of the Bonds. The Master Trust Indenture shall be substantially in the form approved pursuant to the Initial Bond Resolution. The First Supplemental shall be substantially in the form attached hereto as Exhibit D and is hereby approved, with such changes therein as are necessary or desirable to reflect the terms of the sale of the Bonds as shall be approved by the Chairperson (or, in the absence of the Chairperson, the Vice Chairperson, or any other member of the Board) executing the same, with such execution to constitute conclusive evidence of such officer’s approval and the District’s approval of any changes therein from the form of the First Supplemental attached hereto as Exhibit D. Section 8. Authorization and Ratification of Prior Acts. All actions previously taken by or on behalf of District in connection with the issuance of the Bonds are hereby authorized, ratified and confirmed. Section 9. Appointment of Underwriter. fmsbonds, Inc. as the Underwriter for the Bonds. The Board hereby formally appoints Section 10. Book-Entry Only Registration System. The registration of the Bonds shall initially be by the book-entry only system established with The Depository Trust Company (“DTC”). Any member of the Board or the District Manager is authorized to execute the DTC Blanket Issuer Letter of Representations required by DTC. Section 11. Assessment Methodology Report. The Board hereby authorizes any modifications to the Assessment Methodology Report prepared by Governmental Management Services - Central Florida, LLC in connection with the Bonds if such modifications are determined to be appropriate in connection with the issuance of the Bonds. Section 12. Engineer’s Report. The Board hereby authorizes any modifications to the Engineer’s Report prepared by Poulos & Bennett in connection with the Bonds if such modifications are determined to be appropriate in connection with the issuance of the Bonds or modifications to the Assessment Area One Project. Section 13. Further Official Action. The Chairperson, the Vice Chairperson, the Secretary and each member of the Board and any other proper official or member of the professional staff of the District are each hereby authorized and directed to execute and deliver any and all documents and instruments and to do and cause to be done any and all acts and things necessary or desirable for carrying out the transactions contemplated by this Resolution. In the event that the Chairperson, the Vice Chairperson or the Secretary is unable to execute and deliver the documents herein contemplated, such documents shall be executed and delivered by the respective designee of such officer or official or any other duly authorized officer or official of the District herein authorized. The Secretary or any Assistant Secretary is hereby authorized and 5 Page 26 directed to apply and attest the official seal of the District to any agreement or instrument authorized or approved herein that requires such a seal and attestation. Section 14. Severability. If any section, paragraph, clause or provision of this Resolution shall be held to be invalid or ineffective for any reason, the remainder of this Resolution shall continue in full force and effect, it being expressly hereby found and declared that the remainder of this Resolution would have been adopted despite the invalidity or ineffectiveness of such section, paragraph, clause or provision. Section 15. Inconsistent Proceedings. All resolutions or proceedings, or parts thereof, in conflict with the provisions hereof are to the extent of such conflict hereby repealed or amended to the extent of such inconsistency. PASSED in public session of the Board of Supervisors of the Winding Cypress Community Development District, this 1st day of December, 2015. WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT ATTEST: By: Name: Title: Secretary, Board of Supervisors By: Name: Title: Chairperson, Board of Supervisors 6 Page 27 EXHIBIT A FORM OF BOND PURCHASE CONTRACT A-1 Page 28 EXHIBIT B DRAFT COPY OF PRELIMINARY LIMITED OFFERING MEMORANDUM B-1 Page 29 EXHIBIT C FORM OF CONTINUING DISCLOSURE AGREEMENT C-1 Page 30 EXHIBIT D FORM OF FIRST SUPPLEMENTAL TRUST INDENTURE WPB/383563971v1/162185.010100 D-1 Page 31 RESOLUTION NO. 2015-27 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT, STATE OF FLORIDA, APPROVING THE FLORIDA STATEWIDE MUTUAL AID AGREEMENT; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the State Emergency Management Act, Chapter 252, Florida Statutes, authorizes the state and its political subdivisions to develop and enter into mutual aid agreements for reciprocal emergency aid and assistance in case of emergencies too extensive to be dealt with unassisted; and WHEREAS, the Board of Supervisors of the Winding Cypress Community Development District (“District”) hereby approve an agreement with the State of Florida, Division of Emergency Management, concerning the Statewide Mutual Aid Agreement; and WHEREAS, the Florida Department of Emergency Management requires an independent special district to participate in the Statewide Mutual Aid Agreement to be eligible for funds under Administrative Rule 27P-19, Base Funding for County Emergency Management Agencies and Municipal Competitive Grant and Loan Programs; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT, STATE OF FLORIDA, THAT: Section 1. The above recitals are hereby adopted. Section 2. That execution of the attached Statewide Mutual Aid Agreement is hereby authorized, and the Agreement is hereby approved. PASSED, ADOPTED and EFFECTIVE this 1st day of December, 2015. ATTEST: By: WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT, FLORIDA By: Secretary/Assistant Secretary Chairperson/Vice Chairperson Page 32 S TAT E OF F L OR I D A DIVISION OF EMERGENCY MANAGEMENT RICK SCOTT Governor BRYAN W. KOON Director STATEWIDE MUTUAL AID AGREEMENT This Agreement is between the FLORIDA DIVISION OF EMERGENCY MANAGEMENT (“Division”) and the local government signing this Agreement (the “Participating Parties”). This agreement is based on the existence of the following conditions: A. The State of Florida is vulnerable to a wide range of disasters that are likely to cause the disruption of essential services and the destruction of the infrastructure needed to deliver those services. B. Such disasters are likely to exceed the capability of any one local government to cope with the emergency with existing resources. C. Such disasters may also give rise to unusual technical needs that the local government may be unable to meet with existing resources, but that other local governments may be able to offer. D. The Emergency Management Act, Chapter 252, provides each local government of the state the authority to develop and enter into mutual aid agreement within the state for reciprocal emergency aid and assistance in case of emergencies too extensive to dealt with unassisted, and through such agreements to ensure the timely reimbursement of costs incurred by the local governments which render such assistance. E. Pursuant to Chapter 252, the Division has the authority to coordinate assistance between local governments during emergencies and to concentrate available resources where needed. Based on the existence of the foregoing conditions, the parties agree to the following: ARTICLE I. Definitions. As used in this Agreement, the following expressions shall have the following meanings: 1 Page 33 A. The “Agreement” is this Agreement, which shall be referred to as the Statewide Mutual Aid Agreement (“SMAA”). B. The “Participating Parties” to this Agreement are the Division and any and all special districts, educational districts, and other local and regional governments signing this Agreement. C. The “Division” is the Division of Emergency Management. E. The “Requesting Parties” to this Agreement are Participating Parties who request assistance during a declared state of emergency. F. The “Assisting Parties” to this Agreement are Participating Parties who render assistance in a disaster to a Requesting Party. G. The “State Emergency Operations Center” is the facility designated by the State Coordinating Officer to manage and coordinate assistance to local governments during a disaster. H. The “Comprehensive Emergency Management Plan” is the biennial Plan issued by the Division in accordance with § 252.35(2)(a), Florida Statutes. I. The “State Coordinating Officer” is the official whom the Governor designates, by Executive Order, to act for the Governor in responding to a disaster, and to exercise the powers of the Governor in accordance with the Executive Order, Chapter 252, Florida Statutes, and the State Comprehensive Emergency Management Plan. J. The “Period of Assistance” is the time during which any Assisting Party renders assistance to any Requesting Party in a declared disaster, and shall include both the time necessary for the resources and personnel of the Assisting Party to travel to the place specified by the Requesting Party and the time necessary to return them to their place of origin or to the headquarters of the Assisting Party. K. A “special district” is any local or regional governmental entity which is an independent special district within the meaning of § 189.403(1), Florida Statutes, regardless of whether established by local, special, or general act, or by rule, ordinance, resolution, or interlocal agreement. Page 34 L. An “educational district” is any school district within the meaning of § 1001.30, Florida Statutes and any community school and state university within the meaning of § 1000.21, Florida Statutes. M. An “interlocal agreement” is any agreement between local governments within the meaning of § 163.01(3)(a), Florida Statutes. N. A “local government” is any educational district and any entity that is a “local governmental entity” within the meaning of § 11.45(1)(e), Florida Statutes. O. Any expressions not assigned definitions elsewhere in this Agreement shall have the definitions assigned them by the Emergency Management Act. ARTICLE II. Applicability of the Agreement. A Participating Party may request assistance under this Agreement only for a “major” or “catastrophic disaster” as defined in § 252.34, Florida Statutes. If the Participating Party has no other mutual aid agreement that covers a “minor” disaster, it may also invoke assistance under this Agreement for a “minor disaster.” ARTICLE III. Invocation of the Agreement. In the event of a disaster or threatened disaster, a Participating Party may invoke assistance under this Agreement by requesting it from any other Participating Party, or from the Division if, in the judgment of the Requesting Party, its own resources are inadequate to meet the disaster. A. Any request for assistance under this Agreement may be oral, but within five (5) calendar days must be confirmed in writing by the County Emergency Management Agency of the Requesting Party, unless the State Emergency Operations Center has been activated in response to the disaster for which assistance is requested. B. All requests for assistance under this Agreement shall be transmitted by County Emergency Management Agency of the Requesting Party to either the Division, or to another Participating Party. If Page 35 the Requesting Party transmits its request for Assistance directly to a Participating Party other than the Division, the Requesting Party and Assisting Party shall keep the Division advised of their activities. C. The Division shall relay any requests for assistance under this Agreement to such other Participating Parties as it may deem appropriate, and shall coordinate the activities of the Assisting Parties so as to ensure timely assistance to the Requesting Party. All such activities shall be carried out in accordance with the State’s Comprehensive Emergency Management Plan. D. Nothing in this Agreement shall be construed to allocate liability for the costs of personnel, equipment, supplies, services and other resources that are staged by the Division, or by other agencies of the State of Florida, for use in responding to a disaster pending the assignment of such personnel, equipment, supplies, services and other resources to a emergency support function/mission. The documentation, payment, repayment, and reimbursement of all such costs shall be rendered in accordance with the Comprehensive Emergency Management Plan, and general accounting best practices procedures and protocols. ARTICLE IV. Responsibilities of Requesting Parties. To the extent practicable, all Requesting Parties seeking assistance under this Agreement shall provide the following information to the Division and the other Participating Parties. In providing such information, the Requesting Party may use Form B attached to this Agreement, and the completion of Form B by the Requesting Party shall be deemed sufficient to meet the requirements of this Article: A. A description of the damage sustained or threatened; B. An identification of the specific Emergency Support Function or Functions for which such assistance is needed; C. A description of the specific type of assistance needed within each Emergency Support Function; Page 36 D. A description of the types of personnel, equipment, services, and supplies needed for each specific type of assistance, with an estimate of the time each will be needed; E. A description of any public infrastructure for which assistance will be needed; F. A description of any sites or structures outside the territorial jurisdiction of the Requesting Party needed as centers to stage incoming personnel, equipment, supplies, services, or other resources; G. The place, date and time for personnel of the Requesting Party to meet and receive the personnel and equipment of the Assisting Party; and H. A technical description of any communications or telecommunications equipment needed to ensure timely communications between the Requesting Party and any Assisting Parties. ARTICLE V. Responsibilities of Assisting Parties. Each Participating Party shall render assistance under this Agreement to any Requesting Party to the extent practicable that its personnel, equipment, resources and capabilities can render assistance. If a Participating Party which has received a request for assistance under this Agreement determines that it has the capacity to render some or all of such assistance, it shall provide the following information to the Requesting Party and shall transmit it without delay to the Requesting Party and the Division. In providing such information, the Assisting Party may use Form B attached to this Agreement, and the completion of Form B by the Assisting Party shall be deemed sufficient to meet the requirements of this Article: A. A description of the personnel, equipment, supplies and services it has available, together with a description of the qualifications of any skilled personnel; B. An estimate of the time such personnel, equipment, supplies, and services will continue to be available; C. An estimate of the time it will take to deliver such personnel, equipment, supplies, and services at the date, time and place specified by the Requesting Party; Page 37 D. A technical description of any communications and telecommunications equipment available for timely communications with the Requesting Party and other Assisting Parties; and E. The names of all personnel whom the Assisting Party designates as Supervisors. ARTICLE VI. Rendition of Assistance. After the Assisting Party has delivered its personnel, equipment, supplies, services, or other resources to the place specified by the Requesting Party, the Requesting Party shall give specific assignments to the Supervisor(s) of the Assisting Party, who shall be responsible for directing the performance of these assignments. The Assisting Party shall have authority to direct the manner in which the assignments are performed. In the event of an emergency that affects the Assisting Party, all personnel, equipment, supplies, services and other resources of the Assisting Party shall be subject to recall by the Assisting Party upon not less than five (5) calendar days notice or, if such notice is impracticable, as much notice as is practicable under the circumstances. A. For operations at the scene of catastrophic and major disasters, the Assisting Party shall to the fullest extent practicable give its personnel and other resources sufficient equipment and supplies to make them self-sufficient for food, shelter, and operations unless the Requesting Party has specified the contrary. For minor disasters, the Requesting Party shall be responsible to provide food and shelter for the personnel of the Assisting Party unless the Requesting Party has specified the contrary. In its request for assistance the Requesting Party may specify that Assisting Parties send only self-sufficient personnel or self-sufficient resources. B. Unless the Requesting Party has specified the contrary, it shall to the fullest extent practicable, coordinate all communications between its personnel and those of any Assisting Parties, and shall determine all frequencies and other technical specifications for all communications and telecommunications equipment to be used. C. Personnel of the Assisting Party who render assistance under this Agreement shall receive Page 38 their usual wages, salaries and other compensation, and shall have all the duties, responsibilities, immunities, rights, interests and privileges incident to their usual employment. ARTICLE VII. Procedures for Reimbursement. Unless the Division or the Assisting Party, as the case may be, state the contrary in writing, the ultimate responsibility for the reimbursement of costs incurred under this Agreement shall rest with the Requesting Party, subject to the following conditions and exceptions: A. In accordance with this Agreement, the Division shall pay the costs incurred by an Assisting Party in responding to a request that the Division initiates on its own, and not for another Requesting Party. B. An Assisting Party shall bill the Division or other Requesting Party as soon as practicable, but not later than thirty (30) calendar days after the Period of Assistance has closed. Upon the request of any of the concerned Participating Parties, the State Coordinating Officer may extend this deadline for cause. C. If the Division or the Requesting Party protests any bill or item on a bill from an Assisting Party, it shall do so in writing as soon as practicable, but in no event later than thirty (30) calendar days after the bill is received. Failure to protest any bill or billed item in writing within thirty (30) calendar days shall constitute agreement to the bill and the items on the bill and waive the right to contest the bill. D. If the Division protests any bill or item on a bill from an Assisting Party, the Assisting Party shall have thirty (30) calendar days from the date of protest to present the bill or item to the original Requesting Party for payment, subject to any protest by the Requesting Party. E. If the Assisting Party cannot reach a mutual agreement with the Division or the Requesting Party to the settlement of any protested bill or billed item, the Division, the Assisting Party, or the Requesting Party may elect binding arbitration to determine its liability for the protested bill or billed item in accordance with Section F of this Article. F. If the Division or a Participating Party elects binding arbitration it may select as an arbitrator Page 39 any elected official of another Participating Party, or any other official of another Participating Party whose normal duties include emergency management, and the other Participating Party shall also select such an official as an arbitrator, and the arbitrators thus chosen shall select another such official as a third arbitrator. G. The three (3) arbitrators shall convene by teleconference or videoconference within thirty (30) calendar days to consider any documents and any statements or arguments by the Department, the Requesting Party, or the Assisting Party concerning the protest, and shall render a decision in writing not later than ten (10) business days after the close of the hearing. The decision of a majority of the arbitrators shall bind the parties, and shall be final. H. If the Requesting Party has not forwarded a request through the Division, or if an Assisting Party has rendered assistance without being requested to do so by the Division, the Division shall not be liable for the costs of any such assistance. All requests to the Federal Emergency Management Agency (FEMA) for the reimbursement of costs incurred by any Participating Party shall be made by and through the Division. I. If FEMA denies any request for reimbursement of costs which the Division has already advanced to an Assisting Party, the Assisting Party shall repay such costs to the Division, but the Division may waive such repayment for cause. ARTICLE VIII. Costs Eligible for Reimbursement. The costs incurred by the Assisting Party under this Agreement shall be reimbursed as needed to make the Assisting Party whole to the fullest extent practicable. A. Employees of the Assisting Party who render assistance under this Agreement shall be entitled to receive from the Assisting Party all their usual wages, salaries, and any and all other compensation for mobilization, hours worked, and demobilization. Such compensation shall include any and all contributions for insurance and retirement, and such employees shall continue to accumulate Page 40 seniority at the usual rate. As between the employees and the Assisting Party, the employees shall have all the duties, responsibilities, immunities, rights, interests and privileges incident to their usual employment. The Requesting Party shall reimburse the Assisting Party for these costs of employment. B. The costs of equipment supplied by the Assisting Party shall be reimbursed at the rental rate established for like equipment by the regulations of the Federal Emergency Management Agency, or at any other rental rate agreed to by the Requesting Party. The Assisting Party shall pay for fuels, other consumable supplies, and repairs to its equipment as needed to keep the equipment in a state of operational readiness. Rent for the equipment shall be deemed to include the cost of fuel and other consumable supplies, maintenance, service, repairs, and ordinary wear and tear. With the consent of the Assisting Party, the Requesting Party may provide fuels, consumable supplies, maintenance, and repair services for such equipment at the site. In that event, the Requesting Party may deduct the actual costs of such fuels, consumable supplies, maintenance, and services from the total costs otherwise payable to the Assisting Party. If the equipment is damaged while in use under this Agreement and the Assisting Party receives payment for such damage under any contract of insurance, the Requesting Party may deduct such payment from any item or items billed by the Assisting Party for any of the costs for such damage that may otherwise be payable. C. The Requesting Party shall pay the total costs for the use and consumption of any and all consumable supplies delivered by the Assisting Party for the Requesting Party under this Agreement. In the case of perishable supplies, consumption shall be deemed to include normal deterioration, spoilage and damage notwithstanding the exercise of reasonable care in its storage and use. Supplies remaining unused shall be returned to the Assisting Party in usable condition upon the close of the Period of Assistance, and the Requesting Party may deduct the cost of such returned supplies from the total costs billed by the Assisting Party for such supplies. If the Assisting Party agrees, the Requesting Party may also replace any and all used consumable supplies with like supplies in usable condition and of like grade, Page 41 quality and quantity within the time allowed for reimbursement under this Agreement. D. The Assisting Party shall keep records to document all assistance rendered under this Agreement. Such records shall present information sufficient to meet the audit requirements specified in the regulations of FEMA and any applicable circulars issued by the State of Florida Office of Management and Budget. Upon reasonable notice, the Assisting Party shall make its records available to the Division and the Requesting Party for inspection or duplication between 8:00 a.m. and 5:00 p.m. on all weekdays, except for official holidays. ARTICLE IX. Insurance. Each Participating Party shall determine for itself what insurance to procure, if any. With the exceptions in this Article, nothing in this Agreement shall be construed to require any Participating Party to procure insurance. A. Each Participating Party shall procure employers’ insurance meeting the requirements of the Workers’ Compensation Act, as amended, affording coverage for any of its employees who may be injured while performing any activities under the authority of this Agreement, and shall file with the Division a certificate issued by the insurer attesting to such coverage. B. Any Participating Party that elects additional insurance affording liability coverage for any activities that may be performed under the authority of this Agreement shall file with the Division a certificate issued by the insurer attesting to such coverage. C. Any Participating Party that is self-insured with respect to any line or lines of insurance shall file with the Division copies of all resolutions in current effect reflecting its determination to act as a selfinsurer. D. Subject to the limits of such liability insurance as any Participating Party may elect to procure, nothing in this Agreement shall be construed to waive, in whole or in part, any immunity any Participating Party may have in any judicial or quasi-judicial proceeding. Page 42 E. Each Participating Party which renders assistance under this Agreement shall be deemed to stand in the relation of an independent contractor to all other Participating Parties, and shall not be deemed to be the agent of any other Participating Party. F. Nothing in this Agreement shall be construed to relieve any Participating Party of liability for its own conduct and that of its employees. G. Nothing in this Agreement shall be construed to obligate any Participating Party to indemnify any other Participating Party from liability to third parties. ARTICLE X. General Requirements. Notwithstanding anything to the contrary elsewhere in this Agreement, all Participating Parties shall be subject to the following requirements in the performance of this Agreement: A. To the extent that assistance under this Agreement is funded by State funds, the obligation of any statewide instrumentality of the State of Florida to reimburse any Assisting Party under this Agreement is contingent upon an annual appropriation by the Legislature. B. All bills for reimbursement under this Agreement from State funds shall be submitted in detail sufficient for auditing purposes. To the extent that such bills represent costs incurred for travel, such bills shall be submitted in accordance with applicable requirements for the reimbursement of state employees for travel costs. C. All Participating Parties shall allow public access to all documents, papers, letters or other materials subject to the requirements of the Public Records Act, as amended, and made or received by any Participating Party in conjunction with this Agreement. D. No Participating Party may hire employees in violation of the employment restrictions in the Immigration and Nationality Act, as amended. E. No costs reimbursed under this Agreement may be used directly or indirectly to influence legislation or any other official action by the Legislature of the State of Florida or any of its agencies. Page 43 F. Any communication to the Division under this Agreement shall be sent to the Director, Division of Emergency Management, 2555 Shumard Oak Boulevard, Tallahassee, Florida 32399-2100. Any communication to any other Participating Party shall be sent to the official or officials specified by that Participating Party on Form C attached to this Agreement. For the purpose of this Section, any such communication may be sent by the U.S. Mail, e-mail, or by facsimile. ARTICLE XI. Effect of Agreement. Upon its execution by a Participating Party, this Agreement shall have the following effect with respect to that Participating Party: A. The execution of this Agreement by any Participating Party which is a signatory to the Statewide Mutual Aid Agreement of 1994 shall terminate the rights, interests, duties, and responsibilities and obligations of that Participating Party under that agreement, but such termination shall not affect the liability of the Participating Party for the reimbursement of any costs due under that agreement, regardless of whether billed or unbilled. B. The execution of this Agreement by any Participating Party which is a signatory to the Public Works Mutual Aid Agreement shall terminate the rights, interests, duties, responsibilities and obligations of that Participating Party under that agreement, but such termination shall not affect the liability of the Participating Party for the reimbursement of any costs due under that agreement, regardless of whether billed or unbilled. C. Upon the activation of this Agreement by the Requesting Party, this Agreement shall supersede any other existing agreement between it and any Assisting Party to the extent that the former may be inconsistent with the latter. D. Unless superseded by the execution of this Agreement in accordance with Section A of this Article, the Statewide Mutual Aid Agreement of 1994 shall terminate and cease to have legal existence after June 30, 2001. Page 44 E. Upon its execution by any Participating Party, this Agreement will continue in effect for one (1) year from its date of execution by that Participating Party, and it shall automatically renewed one (1) year after its execution unless within sixty (60) calendar days before that date the Participating Party notifies the Division, in writing, of its intent to withdraw from the Agreement. F. The Division shall transmit any amendment to this Agreement by sending the amendment to all Participating Parties not later than five (5) business days after its execution by the Division. Such amendment shall take effect not later than sixty (60) calendar days after the date of its execution by the Division, and shall then be binding on all Participating Parties. Notwithstanding the preceding sentence, any Participating Party who objects to the amendment may withdraw from the Agreement by notifying the Division in writing of its intent to do so within that time in accordance with Section E of this Article. ARTICLE XII. Interpretation and Application of Agreement. The interpretation and application of this Agreement shall be governed by the following conditions: A. The obligations and conditions resting upon the Participating Parties under this Agreement are not independent, but dependent. B. Time shall be of the essence of this Agreement, and of the performance of all conditions, obligations, duties, responsibilities and promises under it. C. This Agreement states all the conditions, obligations, duties, responsibilities and promises of the Participating Parties with respect to the subject of this Agreement, and there are no conditions, obligations, duties, responsibilities or promises other than those expressed in this Agreement. D. If any sentence, clause, phrase, or other portion of this Agreement is ruled unenforceable or invalid, every other sentence, clause, phrase or other portion of the Agreement shall remain in full force and effect, it being the intent of the Division and the other Participating Parties that every portion of the Page 45 Agreement shall be severable from every other portion to the fullest extent practicable. The Division reserves the right, at its sole and absolute discretion, to change, modify, add, or remove portions of any sentence, clause, phrase or other portion of this Agreement that conflicts with state law, regulation, or policy. If the change is minor, the Division will notify the Participating Party of the change and such changes will become effective immediately; therefore, please check these terms periodically for changes. If the change is substantive, the Participating Party may be required to execute the Agreement with the adopted changes. Your continued or subsequent use of this Agreement following the posting of minor changes to this Agreement will mean you accept those changes. E. The waiver of any obligation or condition in this Agreement by a Participating Party shall not be construed as a waiver of any other obligation or condition in this Agreement. NOTE: On August 20, 2007, this Agreement was modified by the Division of Emergency Management. This document replaces the July 31, 2000 edition of the Statewide Mutual Aid Agreement; however, any and all Agreements previously executed shall remain in full force and effect. Any local government, special district, or educational institution which has yet to execute this Agreement should use the August 20, 2007 edition for the purposes of becoming a signatory. IN WITNESS WHEREOF, the Participating Parties have duly executed this Agreement on the date specified below: Page 46 FOR ADOPTION BY A COUNTY STATE OF FLORIDA DIVISION OF EMERGENCY MANAGEMENT By: Date: Director ATTEST: CLERK OF THE CIRCUIT COURT BOARD OF COUNTY COMMISSIONERS OF COUNTY, STATE OF FLORIDA By: By: Deputy Clerk Chairman Date: Approved as to Form: By: County Attorney Page 47 FOR ADOPTION BY A CITY STATE OF FLORIDA DIVISION OF EMERGENCY MANAGEMENT By: Date: Director ATTEST: CITY CLERK CITY OF STATE OF FLORIDA By: By: Title: Title: Date: Approved as to Form: By: City Attorney Page 48 FOR ADOPTION BY AN EDUCATIONAL DISTRICT STATE OF FLORIDA DIVISION OF EMERGENCY MANAGEMENT By: Director Date: SCHOOL DISTRICT, STATE OF FLORIDA By: By: Title: Title: Date: Approved as to Form: By: Attorney for District Page 49 FOR ADOPTION BY A COMMUNITY COLLEGE OR STATE UNIVERSITY STATE OF FLORIDA DIVISION OF EMERGENCY MANAGEMENT By: Date: Director ATTEST: BOARD OF TRUSTEES OF COMMUNITY COLLEGE, STATE OF FLORIDA BOARD OF TRUSTEES OF UNIVERSITY, STATE OF FLORIDA By: By: Clerk Chairman Date: Approved as to Form: By: Attorney for Board Page 50 FOR ADOPTION BY A SPECIAL DISTRICT STATE OF FLORIDA DIVISION OF EMERGENCY MANAGEMENT By: Date: Director SPECIAL DISTRICT, STATE OF FLORIDA By: By: Title: Title: Date: Approved as to Form: By: Attorney for District Page 51 FOR ADOPTION BY AN AUTHORITY STATE OF FLORIDA DIVISION OF EMERGENCY MANAGEMENT By: Date: Director ATTEST: BOARD OF TRUSTEES OF AUTHORITY, STATE OF FLORIDA By: By: Clerk Chairman Date: Approved as to Form: By: Attorney for Board Page 52 FOR ADOPTION BY A NATIVE AMERICAN TRIBE STATE OF FLORIDA DIVISION OF EMERGENCY MANAGEMENT By: Date: Director ATTEST: TRIBAL COUNCIL OF THE TRIBE OF FLORIDA By: By: Council Clerk Chairman Date: Approved as to Form: By: Attorney for Council Page 53 FOR ADOPTION BY A COMMUNITY DEVELOPMENT DISTRICT STATE OF FLORIDA DIVISION OF EMERGENCY MANAGEMENT By: Date: Director COMMUNITY DEVELOPMENT DISTRICT, STATE OF FLORIDA By: By: Title: Title: Date: Approved as to Form: By: Attorney for District Date: Page 54 STATEWIDE MUTUAL AID AGREEMENT FORM C CONTACT INFORMATION FOR AUTHORIZED REPRESENTATIVES New or Updated: Agreement Number: Type: County Municipality Independent University School Community Name: Name of Government: Mailing Address: Authorized Representative Contact Information Primary Authorized Representative Name: Title: Address: Day/Primary Phone #: Night/Alternate #: Fax #: Email: 1st Alternate Authorized Representative Name: Title: Address: Day/Primary Phone #: Night/Alternate #: Fax #: Email: 2nd Alternate Authorized Representative Name: Title: Address: Day/Primary Phone #: Night/Alternate #: Fax #: Email: Submitted by: *FDEM Use Only* Date Received: Personnel Signature: _______________ Page 55 SAMPLE AUTHORIZING RESOLUTION FOR ADOPTION OF STATEWIDE MUTUAL AID AGREEMENT RESOLUTION NO. WHEREAS, the State of Florida Emergency Management Act, Chapter 252, authorizes the State and its political subdivisions to provide emergency aid and assistance in the event of a disaster or emergency; and WHEREAS, the statutes also authorize the State to coordinate the provision of any equipment, services, or facilities owned or organized by the State or it political subdivisions for use in the affected area upon the request of the duly constituted authority of the area; and WHEREAS, this Resolution authorizes the request, provision, and receipt of interjurisdictional mutual assistance in accordance with the Emergency Management Act, Chapter 252, among political subdivisions within the State; and NOW, THEREFORE, be it resolved by that in order to maximize the prompt, full and effective use of resources of all participating governments in the event of an emergency or disaster we hereby adopt the Statewide Mutual Aid Agreement which is attached hereto and incorporated by reference. ADOPTED BY: DATE: I certify that the foregoing is an accurate copy of the Resolution adopted by on . BY: TITLE: DATE: Page 56 Attachment 1 STATEWIDE MUTUAL AID AGREEMENT Type or print all information except signatures Form B PART I TO BE COMPLETED BY THE REQUESTING PARTY Dated: Time: HRS (local) Contact Person: REQUESTING PARTY Telephone No: Fax No: Assisting Party: Authorized Rep: Incident Requiring Assistance: Type of Assistance/Resources Needed (use Part IV for additional space) Date & Time Resources Needed: Staging Area: Approximated Date/Time Resources Released: Authorized Official’s Name Title (Print/Type) Signature : Agency: PART II Mission No: TO BE COMPLETED BY THE ASSISTING PARTY Contact Person: Telephone No: Fax No: Type of Assistance Available: Date & Time Resources Available From: To: Staging Area Location: Approx. Daily Total Costs for Labor, Equipment and Materials: Transportation Costs from Home Base to Staging Area: Logistics Required from Requesting Party Yes $ $ Transportation Costs to Return to Home Base: (Provide information on attached Part III) Authorized Official's Name: Date: $ No Title: Time: PART III HRS (local) TO BE COMPLETED BY THE REQUESTING PARTY Authorized Official's Name: Title: Signature: Agency: Revised: November 23, 2010 Mission No: Page 57 Page 1 PART IV STATEWIDE MUTUAL AID AGREEMENT Type or print all information except signatures Form B (continued) MISCELLANEOUS ITEMS / OTHER MISSION INFORMATION Revised: November 23, 2010 Page 58 Page 2 MASTER SPECIAL ASSESSMENT REPORT WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT SPECIAL DISTRICT SERVICES, INC. September 22, 2015 Revised December 1, 2015 2501A Burns Road Palm Beach Gardens, Florida 33410 561-630-4922 Page 59 INDEX INTRODUCTION 1 PROJECTS TO BE FUNDED BY THE DISTRICT 1 FUNDING OF IMPROVEMENTS 2 ALLOCATION OF COSTS AND ASSESSMENTS 3 COLLECTION OF SPECIAL ASSESSMENTS 4 FINANCING STRUCTURE 4 MODIFICATIONS, REVISIONS AND TRUE-UP MECHANISIM 4 PRELIMINARY ASSESSMENT ROLL 5 TABLE A – PROJECT COST ESTIMATES 6 TABLE B – BOND SIZING 7 TABLE C – PROJECT BENEFIT, CONSTRUCTION DEBT & BOND DEBT ALLOCATIONS 8 TABLE D – CALCULATION OF ANNUAL DEBT ASSESSMENT 9 TABLE E – TAX ROLL FOR PHASE I 10 TABLE F – LEGAL DESCRIPTION FOR PHASE II 13 Page 60 1.0 INTRODUCTION Winding Cypress (the “Development”) is a planned residential development containing approximately 358.06 acres and is located in the unincorporated area of the Collier County, Florida. The Winding Cypress Community Development District (the “District”) is co-terminus with the Development and is planned for a total of 781 residential units as follows: Phase I Phase II Phase III Total Villas 42 52 28 122 50' Lot 63 247 136 446 65’ Lot 48 94 71 213 Total 153 393 235 781 The District has been established pursuant to Chapter 190, Florida Statutes (“F.S.”), to provide for the construction, and/or acquisition, financing, long-term administration and management of certain public infrastructure deemed necessary to develop the Development. The District infrastructure improvements, as more specifically described in the Engineer’s Report dated September 22, 2015, prepared by J.R. Evans Engineering, P.A., 9351 Corkscrew Road, Suite 102, Estero, Florida 33928 (the “Interim District’s Engineer”), consist of the 83.4 acres of stormwater management lakes that are to be located within the District. These lakes are to provide for both water quality treatment and water attenuation for the proposed 781 single family units, all associated roadways, common areas, and the amenity center (the “Project”). The Project will convey runoff from the individual residential lots via a system of gutters, inlets, piping, into the lakes for treatment purposes. The lakes within the district are designed with large pipe interconnects that allows for the cross conveyance of the stormwater runoff from lake to lake and ultimately into the adjacent wetland slough system. This Master Special Assessment Methodology Report will equitably allocate the costs being incurred by the District to provide infrastructure improvements to the assessable lands within Phases I and II of the District (hereinafter the “Phase I and Phase II Assessment Area”). The implementation of the improvements will convey special and peculiar benefits to such assessable properties in the District. 2.0 PROJECTS TO BE FUNDED BY THE DISTRICT The Project is currently being planned in phases; and as designed, is an integrated system of facilities that provides specific benefits to all of the assessable lands within the District. The total cost of the Project is currently estimated to be $ 13,124,882. The District anticipates issuing approximately $7,482,577 of Special Assessment Bonds, Series 2015 (Phase I and Phase II Assessment Area) (the “Series 2015 Bonds”) for the purpose of financing a portion of the infrastructure improvements for Phases I and II of the Project (hereinafter the “Phase I and Phase II Project). A detail of the total costs of the Project is included herein as Table A. The total cost for the Phase I and Phase II Project is currently estimated to be $ 9,501,741. A detail of the total costs of the Phase I and Phase II Project is shown below. Any improvements relating to the Phase I and Phase II Project not funded by the Series 2015 Bonds will be completed by the Developer as defined herein. Page 61 Project Cost Estimates Stormwater Management Phase I Phase II Total Phases I & II $266,498 $308,111 $574,609 Earthwork/Excavation $2,255,802 $2,756,233 $5,012,035 Drainage Pipes and Structures $1,587,103 $2,327,994 $3,915,097 Total $4,109,403 $5,392,338 $9,501,741 Gutters/Curbing Under the phasing plan, the Phase I and Phase II Project will be designed to be functional and confer special benefits to all landowners in the Phase I and Phase II Assessment Area prior to the subsequent phase(s) being completed. As such, the Phase I and Phase II Project can be financed independently of the other phases. As the finance program is implemented, supplemental methodology reports will be issued detailing the particulars of a specific bond issue. The supplemental report(s) will apply the principles set forth herein to determine the specific assessments required to repay the Series 2015 Bonds issued to fund the then current development program. The Series 2015 Bonds will be repaid through the levy of non-ad valorem special assessments on all assessable property within the Phase I and Phase II Assessment Area . Phases I and II have been designed to be functional and confer special benefits to all landowners in Phases I and II of the District. Any portion of the Phase I and Phase II Assessment Area not financed through the issuance of the Series 2015 Bonds will be paid for by DiVosta Homes, L.P. (the “Developer”). It is noted that although it is intended that the Developer will develop Phase III of the Project, the Developer does not yet own the land within that assessment area. The stormwater management system will be constructed by the Developer or the District, and if constructed by the Developer, acquired by the District upon certification of completion . Upon such transfer to the District, the ownership, operation and maintenance of the stormwater management system will be the responsibility of the District. The construction costs identified in this report were provided by the Interim District Engineer, J.R. Evans Engineering, P.A. Special District Services, Inc., as District Manager, makes no representation regarding the accuracy or validity of those costs and did not undertake any analysis or verification regarding such costs. 3.0 FUNDING OF IMPROVEMENTS To defray the costs of construction of the Phase I and Phase II Project, the District will impose non-ad valorem special assessments on benefited real property within the Phase I and Phase II Assessment Area. These assessments are based on the special and peculiar benefits accruing to such property from the improvements comprising the Phase I and Phase II Project. The use of non-ad valorem special assessments has an advantage in that the properties that receive the special benefits from the Project are the only properties that are obligated to pay for those facilities and services. Without these improvements, development of the property would not be possible. The capital facilities which will be funded through these special assessments include only facilities which may be undertaken by a community development district under Chapter 190, F.S. Page 62 In summary, special assessments may be levied only against certain property: (1) for facilities which provide special benefits to such property as distinct from general benefits, (2) only against property which receives that special benefit, (3) in proportion to the benefits received by the properties, and (4) according to fair and reasonable methods that the governing body of the jurisdiction determines. The special assessments placed upon various benefited properties in the Phase I and Phase II Assessment Area of the District must be sufficient to cover the debt service of the Series 2015 Bonds that will be issued for financing all or a portion of the Phase I and Phase II Project and the costs to maintain those portions of the infrastructure that remain under the ownership of the District. The assessments must be fairly and reasonably allocated to the properties being assessed. 4.0 ALLOCATION OF COSTS AND ASSESSMENTS In developing the methodology used for special assessments in the District, two interrelated factors were used: A. Allocation of benefit: Each parcel of land within the District benefits from the proposed improvements. B. Cost/Benefit: The special assessments imposed on each parcel of land cannot exceed the value of the benefits provided to such parcel. The Project is an integrated system of facilities designed to provide special and peculiar benefits to all the residential units in the District. For the purpose of this Master Report, it is determined that each villa is defined as .90 equivalent residential units (ERU); each 50’ single family residential unit is defined as one ERU and each 65’ single family residential unit is defined as 1.10 ERUs. These ERU factors are reasonable and consistent with those used in similarly situated communities. Upon the sale of Series 2015 Bonds, the District’s debt will be allocated to the gross acreage within the Phase I and Phase II Assessment Area which total 267.52 acres and upon platting to each platted lot in the Phase I and Phase II Assessment Area on an ERU basis as shown herein on Table E and on the remaining unplatted land on an equal acreage basis. As platting occurs the debt assessment will be assigned on a first platted first assessed basis to platted lots receiving property folio numbers; and allocated on an ERU basis as shown herein on Table E. Until all the land within the District has been platted and sold, the assessments on the portion of land that has not been platted and sold are not fixed and determinable. The reasons for this are (1) until the lands are platted, the number of developable acres within each tract against which the assessments are levied is not determined; (2) the lands are subject to re-plat, which may result in changes in development density and product type; and (3) until the lands are sold it is unclear of the timing of the absorptions. Only after the property has been platted and sold will the developable acreage be determined, the final plat be certain, the developable density known, the product types be confirmed, and the timing of the sales solidified. In addition to the special assessments imposed for debt service, the District will also levy an annual administrative assessment to fund the costs of operating and managing the District. As each residential dwelling unit will benefit equally from the operation and management of the Page 63 District and the Project, the annual operation and management assessments will be allocated equally to each residential lot on a per unit basis. Given the District’s land use plan and the type of infrastructure and/or services to be funded by the special assessments, this method will result in a fair allocation of benefits and services and an equitable allocation of costs for the proposed Series 2015 Bonds. However, if the future platting results in changes in land use or proportion of benefit per unit, this allocation methodology may not be applicable and it may be necessary for the District to revise this methodology. 5.0 COLLECTION OF SPECIAL ASSESSMENTS The proposed special assessments for the District will be collected through the Uniform Method of Collection described in Chapter 197, Section 197.3632; F.S. or any other legal means available to the District. Since there are costs associated with the collection of the special assessments (whether by uniform method of collection as authorized under Chapter 197.3632, F.S., or other legal means available to the District), these costs must also be included in the special assessment levy. These costs generally include the 1% collection fee of the County Tax Collector, a 1% service fee of the County Property Appraiser and a 4% discount for early payment of taxes. These additional costs may be reflected by dividing the annual debt service and maintenance assessment amounts by a factor of 0.94. 6.0 FINANCING STRUCTURE The estimated cost for the Phase I and Phase II Project is $9,501,741. The construction program and the costs associated therewith are identified herein in on Table A. A portion of the capital improvements comprising the Phase I and Phase II Project is assumed to be financed by the Series 2015 Bonds when issued which will be payable from and secured by special assessments levied annually against all assessable properties in Phases I and II of the District. Based on the current market conditions the total aggregate principal amount of the Series 2015 Bonds for the Phase I and Phase II Project is shown herein on Table B. The proceeds of the Series 2015 Bonds will provide approximately $7,351,707 for construction and related costs as shown on Table B. The sizing of the Series 2015 Bonds will include a debt service reserve fund currently assumed to be 50% of the maximum annual debt service, , issuance costs and other assumptions as shown herein on Table B. 7.0 MODIFICATIONS, REVISIONS AND TRUE-UP MECHANISIM Allocation of costs and benefit, shown herein on Table C, for the infrastructure improvements financed by the District shall be based on the planned 546 single family residential dwelling units in the Phase I and Phase II Assessment Area , all of which are benefited by the infrastructure improvements. Based on a par Bond size of $7,928,656 at an assumed interest rate of 5% the estimated annual debt service on the Series 2015 Bonds will be approximately $517,822 which has been grossed up to include the 1% County Tax Collector fee, 1% County Property Appraiser fee, and 4% discount for early payment of taxes. To ensure that each residential unit is assessed no more than their pro-rata amount of the annual debt service shown in Table D, the District will be required to perform a “True-Up” analysis, Page 64 which requires a computation at the time of submission of each plat or re-plat to determine the potential remaining assessable dwelling units. The District shall, at the time a plat or re-plat is submitted to the County: A. Assume that the total number of assessable residential units being utilized as a basis for this assessment methodology is 94 – villas, 310 - 50’single family residential units and 142 - 65’ single family residential units (“Total Assessable Units”). B. Ascertain the number of assessable residential dwelling units in the proposed plat or replat and all prior plats (“Planned Assessable Units”). C. Ascertain the current amount of potential remaining assessable dwelling unit (“Remaining Assessable Units”). If the Planned Assessable Units are equal to the Total Assessable Units no action would be required at that time. However, if the sum of the Planned Assessable Units and the Remaining Assessable Units are less than the Total Assessable Units, the Developer will be obligated to remit to the District an amount of money sufficient to enable the District to retire an amount of Series 2015 Bonds such that the amount of debt service allocated to each Planned Assessable Unit does not exceed the amount of debt service that would have been allocated thereto had the total number of Planned Assessable Units been 94 – villas, 310 - 50’single family residential units and 142 - 65’ single family residential units. Conversely, if the Planned Assessable Units or the mix of residential units is greater than the Total Assessable Units, then, there will be a prorata decrease in the annual non-ad valorem assessments to all of the benefited properties. All assessments levied run with the land. A determination of a true-up payment shall be at the sole discretion of the District. It is the responsibility of the landowner of record to make any required true-up payments that are due including any accrued interest. The District will not release any liens on the property for which true-up payments are due until provision for such payment has been satisfied. It is recommended that the true-up mechanism be formalized in an agreement between the District and the Developer. In the event that additional land is annexed into the District which is currently not subject to the assessments and is developed in such a manner as to receive special benefit from the Project described herein, it will be necessary for this assessment methodology to be re-applied to include such parcels. The additional land will, as a result of re-applying this allocation methodology, then be allocated an appropriate share of the special assessments while all currently assessed parcels will receive a relative reduction in their assessments. 8.0 PRELIMINARY ASSESSMENT ROLL When fully developed, the Phase I & Phase II Assessment Area will include a total of is 94 villas, 310 - 50’single family residential units and 142 - 65’ single family residential units as shown herein on Table E. Table F is a copy of the current tax roll from the Collier County Property Appraiser’s office for Phase I. Table G is a copy of the legal description of Phase II provided by Stantec Consulting Services, Inc. *************** Page 65 TABLE A WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT PHASES I & II PROJECT COST ESTIMATES Stormwater Management Phase I Phase II Total Phases I & II $266,498 $308,111 $574,609 Earthwork/Excavation $2,255,802 $2,756,233 $5,012,035 Drainage Pipes and Structures $1,587,103 $2,327,994 $3,915,097 Total $4,109,403 $5,392,338 $9,501,741 Gutters/Curbing Page 66 TABLE B WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT PHASES I & II BOND SIZING BOND SIZING Par Amount $ 7,928,656 * Less Debt Service Reserve Fund (50% MDSR) $ (243,376) Less Underwriter's Discount $ (158,573) Less Issuance Costs $ (175,000) Projected Construction Funds $ (7,351,707) Bond Interest Rate 5.00% * Capitalized Interest Period (Months) 12 Principal Amortization Period (Years) 30 Approximate Issue Date 30-Sep-15 *Subject to change due to market conditions Page 67 TABLE C WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT PHASES I & II PROJECT BENEFIT, CONSTRUCTION DEBT BOND DEBT ALLOCATIONS Development Plan Type of Use Number of Units by Type ERU Factor Total ERUs Project Benefit Allocation Per Unit Type* Project Benefit Allocation Per Unit* Single Family Villa 94 0.9 84.6 $ 1,459,418 $ 15,526 Single Family 50' Unit 310 1.00 310.0 $ 5,347,748 $ 17,251 Single Family 65' Unit 142 1.10 156.2 $ 2,694,575 $ 18,976 Total 546 N/A 550.8 $ 9,501,741 Development Plan Type of Use Number of Units by Type ERU Factor Total ERUs Construction Debt Allocation Per Unit Type* Construction Debt Allocation Per Unit* Single Family Villa 94 0.90 84.6 $ 1,129,184 $ 12,013 Single Family 50' Unit 310 1.00 310.0 $ 4,137,671 $ 13,347 Single Family 65' Unit 142 1.10 156.2 $ 2,084,852 $ 14,682 Total 546 N/A 550.8 $ 7,351,707 Development Plan Type of Use Number of Units by Type ERU Factor Total ERUs Single Family Villa 94 0.90 84.6 $ 1,217,800 $ 12,955 Single Family 50' Unit 310 1.00 310.0 $ 4,462,388 $ 14,395 Single Family 65' Unit 142 1.10 156.2 $ 2,248,468 $ 15,834 Total 546 N/A 550.8 $ 7,928,656 N/A N/A Bond Debt Allocation Per Unit Type* Bond Debt Allocation Per Unit* N/A *Rounded Page 68 TABLE D WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT PHASES I & II CALCULATION OF ANNUAL DEBT SERVICE ASSESSMENT BOND DEBT Maximum Annual Debt Service $ 486,752 Maximum Annual Debt Service Assessment to be Collected $ 517,821 * Total Number of Gross Acres in Phases I and II 267.52 Number of Single Family Villas 94 Number of 50' Single Family Residential Units Planned 310 Number of 65' Sinle Family Residential Units Planned 142 Total Number of Single Family Residential Units Planned 546 Estimated Annual Debt Service per Unit Type See Table E Maximum Annual Debt Service per Unit Type See Table E * *Grossed up to include 1% collection fee of the County Tax Collector, 1% service fee of the County Prope payment of taxes. Page 69 EXHIBIT E Owners Listed by Last Name NAME AKHAVI, HOMAYOON & MARIE BELCH II, HENRY A BRACHO, ROBERT F BROGNA, JOSEPH V CALVO FAMILY LIVING TRUST CARPENTIERI, ANTHONY J & LINDA DIVOSTA HOMES KP DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P PARCEL ID SITE NUMBER 82679001186 82679001102 82679002428 82679001924 82679001908 82679001128 82679001445 82679000022 82679000048 82679000064 82679000080 82679000103 82679000129 82679000145 82679000242 82679000349 82679000365 82679000381 82679000404 82679000420 82679000446 82679000462 82679000488 82679000501 82679000527 82679000543 82679000569 82679000585 82679000608 82679000624 82679000640 82679000666 82679000682 82679000705 82679000721 82679000747 82679000763 82679000789 82679000802 82679000828 82679000844 82679000860 82679000886 82679000909 82679000925 82679000967 82679001005 82679001021 82679001063 82679001144 82679001225 82679001241 82679001283 82679001306 82679001322 82679001348 82679001364 82679001380 82679001403 82679001429 82679001461 82679001487 82679001500 82679001526 82679001542 82679001568 82679001584 82679001607 82679001665 7132 7116 7081 7195 7199 7120 7036 7222 7218 7214 7210 7209 7213 7217 7221 7225 7229 7103 7111 7119 7123 7108 7124 7142 7082 7072 7068 7064 7060 7056 7052 7048 7042 7028 7022 7014 7010 7006 7267 7263 7259 7247 SITE STREET SITE TYPE SITE CITY SITE ZIP LEGAL 1 LOT # LILY LILY LIVE OAK LIVE OAK LIVE OAK LILY LIVE OAK WIREGRASS WIREGRASS WIREGRASS WIREGRASS WIREGRASS WIREGRASS WIREGRASS WIREGRASS WIREGRASS WIREGRASS LILY LILY LILY LILY LILY LILY LILY LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK WAY WAY DR DR DR WAY DR CT CT CT CT CT CT CT CT CT CT WAY WAY WAY WAY WAY WAY WAY DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR LOT 24 LOT 20 LOT 86 LOT 61 LOT 60 LOT 21 LOT 37 TRACT A TRACT B TRACT C TRACT D TRACT E TRACT F TRACT G TRACT H TRACT I TRACT J TRACT K1 TRACT L TRACT M1 TRACT N TRACT O TRACT P1 TRACT P2 TRACT P3 TRACT P4 TRACT P5 TRACT P6 TRACT Q TRACT R TRZCT R1 TRACT S TRACT T TRACT U LOT 1 LOT 2 LOT 3 LOT 4 LOT 5 LOT 6 LOT 7 LOT 8 LOT 9 LOT 10 LOT 11 LOT 13 LOT 15 LOT 16 LOT 18 LOT 22 LOT 26 LOT 27 LOT 29 LOT 30 LOT 31 LOT 32 LOT 33 LOT 34 LOT 35 LOT 36 LOT 38 LOT 39 LOT 40 LOT 41 LOT 42 LOT 43 LOT 44 LOT 45 LOT 48 1 NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE Page 70 EXHIBIT E Owners Listed by Last Name NAME DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P PARCEL ID 82679001681 82679001704 82679001720 82679001746 82679001762 82679001788 82679001801 82679001827 82679001843 82679001869 82679001885 82679001982 82679002004 82679002020 82679002046 82679002062 82679002088 82679002101 82679002127 82679002143 82679002169 82679002185 82679002208 82679002224 82679002240 82679002266 82679002282 82679002305 82679002321 82679002347 82679002363 82679002389 82679002402 82679002460 82679002486 82679002525 82679002541 82679002567 82679002583 82679002606 82679002622 82679002648 82679002664 82679002680 82679002703 82679002729 82679002745 82679002761 82679002787 82679002800 82679002826 82679002842 82679002868 82679002884 82679002907 82679002923 82679002949 82679002965 82679002981 82679003003 82679003029 82679003045 82679003061 82679003087 82679003100 82679003126 82679003142 82679003249 82679003265 82679003281 SITE NUMBER 7243 7239 7235 7231 7227 7223 7219 7215 7211 7207 7203 7183 7179 7175 7171 7167 7163 7155 7141 7137 7133 7129 7125 7121 7117 7113 7109 7105 7101 7097 7093 7089 7085 7073 7069 7061 7057 7053 7049 7045 7041 7037 7033 7029 7025 7021 7017 7013 7009 7005 7023 7031 7039 7047 7055 7063 7071 7079 7087 7268 7264 7260 7256 7252 7248 7244 7230 7168 7164 7160 SITE STREET LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK WINDING CYPRESS WINDING CYPRESS WINDING CYPRESS WINDING CYPRESS WINDING CYPRESS WINDING CYPRESS WINDING CYPRESS WINDING CYPRESS WINDING CYPRESS LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK 2 SITE TYPE DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR DR SITE CITY NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES SITE ZIP LEGAL 1 WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE LOT # LOT 49 LOT 50 LOT 51 LOT 52 LOT 53 LOT 54 LOT 55 LOT 56 LOT 57 LOT 58 LOT 59 LOT 64 LOT 65 LOT 66 LOT 67 LOT 68 LOT 69 LOT 70 LOT 71 LOT 72 LOT 73 LOT 74 LOT 75 LOT 76 LOT 77 LOT 78 LOT 79 LOT 80 LOT 81 LOT 82 LOT 83 LOT 84 LOT 85 LOT 88 LOT 89 LOT 91 LOT 92 LOT 93 LOT 94 LOT 95 LOT 96 LOT 97 LOT 98 LOT 99 LOT 100 LOT 101 LOT 102 LOT 103 LOT 104 LOT 105 LOT 106 LOT 107 LOT 108 LOT 109 LOT 110 LOT 111 LOT 112 LOT 113 LOT 114 LOT 115 LOT 116 LOT 117 LOT 118 LOT 119 LOT 120 LOT 121 LOT 122 LOT 127 LOT 128 LOT 129 Page 71 EXHIBIT E Owners Listed by Last Name NAME DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P DIVOSTA HOMES L P EVELYN J GROCH REV TRUST GIACOMETTI, GEORGE GRIGORIEV, ALEX & MILA HALL, JEAN HIRSHBERG, DAVID KLINGENSMITH, KIMBERLY J LACKEY, BROOKE LEDOUX, JANE E & CHRISTOPHER A LIEGGI, NICK MOORE, DALE B & SHARON L OLLES, RICHARD PELOSI, JERYL ANN & SILVINO STAFFORD, BRUCE & SHARON STECHO, WAYNE A & LAURIE B STONE, DONALD STUDZINSKI, MICHAEL VERBIST, JAMES P & IRENE M PARCEL ID 82679003304 82679003320 82679003346 82679003362 82679003388 82679003401 82679003427 82679003443 82679003469 82679003485 82679003508 82679003524 82679003540 82679003566 82679003582 82679003605 82679003621 82679003647 82679003663 82679003689 82679003702 82679003728 82679003744 82679003760 82679003168 82679001649 82679000941 82679001940 82679002509 82679001267 82679003207 82679001047 82679001966 82679001209 82679002444 82679000983 82679001089 82679001160 82679001623 82679003184 82679003223 SITE NUMBER 7156 7152 7148 7144 7140 7134 7122 7110 7098 7235 7239 7243 7247 7251 7255 7259 7263 7267 7273 7277 7281 7287 7291 7295 7202 7251 7107 7191 7065 7076 7190 7104 7187 7136 7077 7115 7112 7128 7255 7198 7176 SITE STREET LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK LIVE OAK CLAMSHELL CLAMSHELL CLAMSHELL CLAMSHELL CLAMSHELL CLAMSHELL CLAMSHELL CLAMSHELL CLAMSHELL CLAMSHELL CLAMSHELL CLAMSHELL CLAMSHELL CLAMSHELL CLAMSHELL LIVE OAK LIVE OAK LILY LIVE OAK LIVE OAK LIVE OAK LIVE OAK LILY LIVE OAK LILY LIVE OAK LILY LILY LILY LIVE OAK LIVE OAK LIVE OAK SITE TYPE DR DR DR DR DR DR DR DR DR LN LN LN LN LN LN LN LN LN LN LN LN LN LN LN DR DR WAY DR DR DR DR WAY DR WAY DR WAY WAY WAY DR DR DR 3 SITE CITY NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES NAPLES SITE ZIP LEGAL 1 WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE WINDING CYPRESS PHASE ONE LOT # LOT 130 LOT 131 LOT 132 LOT 133 LOT 134 LOT 135 LOT 136 LOT 137 LOT 138 LOT 139 LOT 140 LOT 141 LOT 142 LOT 143 LOT 144 LOT 145 LOT 146 LOT 147 LOT 148 LOT 149 LOT 150 LOT 151 LOT 152 LOT 153 LOT 123 LOT 47 LOT 12 LOT 62 LOT 90 LOT 28 LOT 125 LOT 17 LOT 63 LOT 25 LOT 87 LOT 14 LOT 19 LOT 23 LOT 46 LOT 124 LOT 126 Page 72 EXHIBIT F 3200 Bailey Lane, Suite 200 Naples FL 34105 LEGAL DESCRIPTION Being part of Section 35, Township 50 South, Range 26 East and Part of Section 2, Township 51 South, Range 26 East, Collier County, Florida (WINDING CYPRESS CDD PHASE 2) Being part of Section 35, Township 50 South, Range 26 East and Part of Section 2, Township 51 South, Range 26 East, Collier County, Florida and being more particularly described as follow: Beginning at the Northeast corner of said Section 2 Thence along the east line of said section South 00°40'26" West 2,801.59 feet; Thence continue along said east line South 00°40'46" West 1,424.99 feet; Thence leaving said east line North 90°00'00" West 20.00 feet; Thence North 86°53'29" West 233.86 feet; Thence North 26°43'02" West 170.36 feet; Thence North 50°20'48" West 175.24 feet; Thence 73.39 feet along the arc of a circular curve concave northeast having a radius of 780.00 feet through a central angle of 05°23'27" and being subtended by a chord which bears North 47°39'05" West 73.36 feet; Thence 199.56 feet along the arc of a non-tangential circular curve concave east having a radius of 110.00 feet through a central angle of 103°56'36" and being subtended by a chord which bears North 16°00'45" East 173.30 feet; Thence 264.83 feet along the arc of a non-tangential circular curve concave north having a radius of 1,275.79 feet through a central angle of 11°53'36" and being subtended by a chord which bears North 74°34'25" West 264.35 feet to a point of reverse curvature; Thence 116.25 feet along the arc of a circular curve concave south having a radius of 475.00 feet through a central angle of 14°01'22" and being subtended by a chord which bears North 75°38'18" West 115.96 feet to a point of reverse curvature; Thence 413.80 feet along the arc of a circular curve concave northeast having a radius of 325.00 feet through a central angle of 72°57'05" and being subtended by a chord which bears North 46°10'26" West 386.41 feet; Thence North 09°41'53" West 119.62 feet; Thence 217.32 feet along the arc of a circular curve concave west having a radius of 1,150.00 feet through a central angle of 10°49'38" and being subtended by a chord which bears North 15°06'42" West 217.00 feet; Thence North 20°31'32" West 615.95 feet; Thence 456.38 feet along the arc of a circular curve concave east having a radius of 325.00 feet through a central angle of 80°27'24" and being subtended by a chord which bears North 19°42'10" East 419.79 feet; Thence North 30°04'08" West 44.61 feet; Thence North 61°47'59" West 34.89 feet; Thence 66.69 feet along the arc of a non-tangential circular curve concave northeast having a radius of 80.00 feet through a central angle of 47°45'39" and being subtended by a chord which bears North 53°00'45" West 64.77 feet to a point of reverse curvature; Thence 24.77 feet along the arc of a circular curve concave southwest having a radius of 155.00 feet through a central angle of 09°09'23" and being subtended by a chord which bears North 33°42'37" West 24.74 feet; Thence North 87°36'05" East 0.03 feet; Thence 622.99 feet along the arc of a non-tangential circular curve concave east having a radius of 605.00 feet through a central angle of 58°59'57" and being subtended by a chord which bears North 07°43'45" West 595.82 feet to a point of reverse curvature; Thence 120.31 feet along the arc of a circular curve concave west having a radius of 395.00 1 Page 73 3200 Bailey Lane, Suite 200 Naples FL 34105 feet through a central angle of 17°27'04" and being subtended by a chord which bears North 13°02'42" East 119.84 feet; Thence North 04°19'10" East 928.14 feet; Thence 280.21 feet along the arc of a circular curve concave east having a radius of 455.00 feet through a central angle of 35°17'06" and being subtended by a chord which bears North 21°57'43" East 275.80 feet to a point of reverse curvature; Thence 479.15 feet along the arc of a circular curve concave west having a radius of 755.00 feet through a central angle of 36°21'43" and being subtended by a chord which bears North 21°25'25" East 471.15 feet to a point of reverse curvature; Thence 147.04 feet along the arc of a circular curve concave southeast having a radius of 165.00 feet through a central angle of 51°03'29" and being subtended by a chord which bears North 28°46'18" East 142.22 feet; Thence North 54°18'01" East 100.71 feet; Thence 8.07 feet along the arc of a non-tangential circular curve concave southwest having a radius of 960.00 feet through a central angle of 00°28'53" and being subtended by a chord which bears North 45°50'14" West 8.07 feet; Thence North 46°04'40" West 435.25 feet; Thence 292.02 feet along the arc of a non-tangential circular curve concave southwest having a radius of 920.00 feet through a central angle of 18°11'10" and being subtended by a chord which bears North 54°44'06" West 290.79 feet to a point of reverse curvature; Thence 245.24 feet along the arc of a circular curve concave northeast having a radius of 380.00 feet through a central angle of 36°58'37" and being subtended by a chord which bears North 45°20'23" West 241.01 feet; Thence North 26°51'05" West 178.94 feet; Thence 606.44 feet along the arc of a circular curve concave southwest having a radius of 460.00 feet through a central angle of 75°32'09" and being subtended by a chord which bears North 64°37'10" West 563.47 feet to a point of reverse curvature; Thence 515.19 feet along the arc of a circular curve concave north having a radius of 540.00 feet through a central angle of 54°39'50" and being subtended by a chord which bears North 75°03'19" West 495.88 feet to a point on the boundary line of Winding Cypress Phase One, as recorded in Plat Book 57, pages 89 through 97 of the public records of Collier County, Florida. Thence along said boundary line North 42°16'36" East 80.00 feet; Thence leaving said boundary line 438.87 feet along the arc of a non-tangential circular curve concave north having a radius of 460.00 feet through a central angle of 54°39'50" and being subtended by a chord which bears South 75°03'19" East 422.41 feet to a point of reverse curvature; Thence 584.33 feet along the arc of a circular curve concave south having a radius of 540.00 feet through a central angle of 61°59'59" and being subtended by a chord which bears South 71°23'15" East 556.24 feet; Thence North 26°51'05" West 28.49 feet; Thence 170.45 feet along the arc of a circular curve concave southeast having a radius of 95.00 feet through a central angle of 102°47'57" and being subtended by a chord which bears North 24°32'54" East 148.49 feet to a point of reverse curvature; Thence 104.46 feet along the arc of a circular curve concave northwest having a radius of 115.35 feet through a central angle of 51°53'11" and being subtended by a chord which bears North 50°00'16" East 100.93 feet to a point of reverse curvature; Thence 129.68 feet along the arc of a circular curve concave southeast having a radius of 145.00 feet through a central angle of 51°14'28" and being subtended by a chord which bears North 49°40'54" East 125.40 feet to a point of reverse curvature; Thence 81.60 feet along the arc of a circular curve concave northwest having a radius of 117.85 feet through a central angle of 39°40'20" and being subtended by a chord which bears North 55°27'58" East 79.98 feet to a point of reverse curvature; Thence 372.72 feet along the arc of a circular curve concave south having a radius of 175.00 2 Page 74 3200 Bailey Lane, Suite 200 Naples FL 34105 feet through a central angle of 122°01'43" and being subtended by a chord which bears South 83°21'21" East 306.16 feet to a point of reverse curvature; Thence 91.63 feet along the arc of a circular curve concave northeast having a radius of 158.38 feet through a central angle of 33°08'57" and being subtended by a chord which bears South 38°54'58" East 90.36 feet to a point of reverse curvature; Thence 166.84 feet along the arc of a circular curve concave southwest having a radius of 245.00 feet through a central angle of 39°01'04" and being subtended by a chord which bears South 35°58'54" East 163.64 feet to a point of reverse curvature; Thence 181.48 feet along the arc of a circular curve concave northeast having a radius of 429.65 feet through a central angle of 24°12'02" and being subtended by a chord which bears South 28°34'23" East 180.13 feet to a point of reverse curvature; Thence 239.71 feet along the arc of a circular curve concave west having a radius of 245.00 feet through a central angle of 56°03'32" and being subtended by a chord which bears South 12°38'38" East 230.26 feet to a point of reverse curvature; Thence 74.33 feet along the arc of a circular curve concave east having a radius of 185.76 feet through a central angle of 22°55'39" and being subtended by a chord which bears South 03°55'18" West 73.84 feet to a point of reverse curvature; Thence 67.75 feet along the arc of a circular curve concave west having a radius of 145.00 feet through a central angle of 26°46'20" and being subtended by a chord which bears South 05°50'39" West 67.14 feet; Thence 141.66 feet along the arc of a non-tangential circular curve concave northwest having a radius of 226.10 feet through a central angle of 35°53'49" and being subtended by a chord which bears South 22°41'58" West 139.35 feet to a point of compound curve; Thence 140.81 feet along the arc of a circular curve concave northwest having a radius of 187.54 feet through a central angle of 43°01'07" and being subtended by a chord which bears South 62°09'26" West 137.52 feet to a point of compound curve; Thence 19.01 feet along the arc of a circular curve concave north having a radius of 145.54 feet through a central angle of 07°29'02" and being subtended by a chord which bears South 87°24'30" West 19.00 feet to a point of compound curve; Thence 141.49 feet along the arc of a circular curve concave northeast having a radius of 80.00 feet through a central angle of 101°19'52" and being subtended by a chord which bears North 38°11'02" West 123.75 feet; Thence 12.05 feet along the arc of a non-tangential circular curve concave east having a radius of 319.94 feet through a central angle of 02°09'27" and being subtended by a chord which bears North 09°21'20" West 12.05 feet; Thence North 55°34'17" West 88.67 feet; Thence South 37°09'39" West 65.33 feet; Thence 38.05 feet along the arc of a circular curve concave east having a radius of 25.00 feet through a central angle of 87°12'14" and being subtended by a chord which bears South 06°26'28" East 34.48 feet to a point of reverse curvature; Thence 76.50 feet along the arc of a circular curve concave southwest having a radius of 1,000.00 feet through a central angle of 04°22'59" and being subtended by a chord which bears South 47°51'06" East 76.48 feet; Thence South 46°04'40" East 434.96 feet; Thence 35.03 feet along the arc of a circular curve concave southwest having a radius of 1,040.00 feet through a central angle of 01°55'48" and being subtended by a chord which bears South 45°06'46" East 35.03 feet; Thence North 48°19'55" East 103.32 feet; Thence 51.97 feet along the arc of a circular curve concave southeast having a radius of 157.42 feet through a central angle of 18°54'57" and being subtended by a chord which bears North 57°47'24" East 51.74 feet to a point of reverse curvature; Thence 84.65 feet along the arc of a circular curve concave northwest having a radius of 155.00 feet through a central angle of 31°17'34" and being subtended by a chord which bears 3 Page 75 3200 Bailey Lane, Suite 200 Naples FL 34105 North 51°36'06" East 83.61 feet to a point of reverse curvature; Thence 119.34 feet along the arc of a circular curve concave southeast having a radius of 145.00 feet through a central angle of 47°09'16" and being subtended by a chord which bears North 59°31'57" East 116.00 feet to a point of compound curve; Thence 220.29 feet along the arc of a circular curve concave south having a radius of 321.79 feet through a central angle of 39°13'22" and being subtended by a chord which bears South 77°16'44" East 216.01 feet; Thence 153.70 feet along the arc of a non-tangential circular curve concave south having a radius of 88.95 feet through a central angle of 99°00'10" and being subtended by a chord which bears South 78°14'19" East 135.28 feet; Thence 138.88 feet along the arc of a non-tangential circular curve concave southwest having a radius of 110.15 feet through a central angle of 72°14'33" and being subtended by a chord which bears South 33°25'12" East 129.87 feet; Thence 28.54 feet along the arc of a non-tangential circular curve concave southwest having a radius of 405.00 feet through a central angle of 04°02'16" and being subtended by a chord which bears South 38°28'30" East 28.54 feet to a point of reverse curvature; Thence 17.35 feet along the arc of a circular curve concave northeast having a radius of 55.00 feet through a central angle of 18°04'44" and being subtended by a chord which bears South 45°29'44" East 17.28 feet; Thence 12.84 feet along the arc of a non-tangential circular curve concave southwest having a radius of 127.56 feet through a central angle of 05°45'55" and being subtended by a chord which bears South 52°04'04" East 12.83 feet; Thence 88.93 feet along the arc of a non-tangential circular curve concave southwest having a radius of 139.88 feet through a central angle of 36°25'35" and being subtended by a chord which bears South 31°13'36" East 87.44 feet to a point of reverse curvature; Thence 45.34 feet along the arc of a circular curve concave east having a radius of 166.86 feet through a central angle of 15°34'09" and being subtended by a chord which bears South 20°47'53" East 45.20 feet; Thence 62.01 feet along the arc of a non-tangential circular curve concave south having a radius of 85.00 feet through a central angle of 41°48'04" and being subtended by a chord which bears South 76°38'18" East 60.65 feet to a point of compound curve; Thence 47.14 feet along the arc of a circular curve concave southwest having a radius of 140.00 feet through a central angle of 19°17'27" and being subtended by a chord which bears South 46°05'33" East 46.91 feet to a point of compound curve; Thence 45.05 feet along the arc of a circular curve concave west having a radius of 83.87 feet through a central angle of 30°46'38" and being subtended by a chord which bears South 21°03'30" East 44.51 feet; Thence 18.56 feet along the arc of a non-tangential circular curve concave southwest having a radius of 146.54 feet through a central angle of 07°15'25" and being subtended by a chord which bears South 36°34'08" East 18.55 feet to a point on the east line of said Section 35; Thence along said east line South 00°23'29" West 357.29 feet to the POINT OF BEGINNING. Containing 155.84 acres more or less. ALSO INCLUDING THE FOLLOWING: BEGINNING at the Southeast Corner of Tract S according to said Plat of Winding Cypress Phase One also being the east line of a 110’ wide Florida Power & Light Easement (FP&L); Thence along the east line of said FP&L easement South 00°42'08" West 2,106.76 feet; Thence continue along said line South 00°42'08" West 2,104.18 feet to a point on the northerly right of way line of U.S. 41 (Tamiami Trail); Thence along said northerly right of way line North 54°21'26" West 134.09 feet to the west line of said FP&L easement; Thence along said west line North 00°42'04" East 4,132.80 feet to the south line of said Tract 4 Page 76 3200 Bailey Lane, Suite 200 Naples FL 34105 “S”; Thence along said south line North 90°00'00" East 110.00 feet to the POINT OF BEGINNING. Containing 10.53 acres more or less. For a net Total of 166.37 Acres more or less: Bearings are based on the east line of said Section 2 being South 00°40'26" West; Subject to easements and restrictions of records; Certificate of authorization #LB-7866. Stantec Consulting Services Inc. Registered Engineers and Land Surveyors By: Date February 5, 2014 Lance T. Miller, Professional Surveyor and Mapper #LS5627 Not valid unless embossed with the Professional’s seal. Ref 4E-81C - SKETCH 5 Page 77 Page 78 RESOLUTION 2015-28 [AMENDING AND SUPPLEMENTING RESOLUTION 2015-24] A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT AMENDING RESOLUTION 2015-24 TO PROVIDE FOR THE ADOPTION OF A REVISED ASSESSMENT METHODOLOGY REPORT; TO PROVIDE FOR PAYMENT AND COLLECTION OF SPECIAL ASSESSMENTS BY THE METHODS PROVIDED FOR BY CHAPTER 197, FLORIDA STATUTES; RATIFYING AND REAFFIRMING RESOLUTION 2015-24 EXCEPT AS MODIFIED BY RESOLUTION 201528; ADDRESSING CONFLICTS; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Winding Cypress Community Development District (the “District”) is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, for the purpose of providing, operating and maintaining infrastructure improvements, facilities and services to the lands within the District; and WHEREAS, on November 3, 2015, the District Board of Supervisors (“Board”) adopted Resolution 2015-24 which, among other things, authorized district projects for construction, equalized, approved, confirmed, and levied special assessments on property specially benefitted by such projects, and provided for the payment and collection of such special assessments by the methods provided for by Chapters 170 and 190, Florida Statutes; and WHEREAS, the Board has considered the Master Special Assessment Report, dated September 22, 2015, revised December 1, 2015 (the “Assessment Report”); and WHEREAS, the Board noticed and conducted a public hearing pursuant to Chapter 197, Florida Statutes, relating to the imposition, levy, collection and enforcement of such assessments; and WHEREAS, the District desires to amend Resolution 2015-24 to provide for adoption of the Assessment Report and to add provisions relating to the collection of special assessments pursuant to Chapter 197, Florida Statutes. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT: SECTION 1. RECITALS. The recitals set forth above are true and correct and are incorporated herein and made a part of this resolution as if set forth herein verbatim. SECTION 2. AMENDMENT OF RESOLUTION 2015-24. Page 79 (a) Resolution 2015-24 is hereby amended by changing, in each place it appears in Resolution 2015-24, the references to the Assessment Report from the Master Special Assessment Report dated September 22, 2015, to the Master Special Assessment Report dated September 22, 2015, revised December 1, 2015. (b)The below sections and subsections of Resolution 2015-24, are hereby specifically amended and restated to read as follows: SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to Chapters 170, 190 and 197, Florida Statutes, including without limitation, Section 170.08, Florida Statutes. SECTION 2. FINDINGS. The Board hereby finds and determines as follows: (c) The District is authorized by Chapter 190, Florida Statutes, to levy and impose special assessments to pay all, or any part of, the cost of such infrastructure projects and services and to issue special assessment bonds payable from such special assessments as provided in Chapters 170, 190 and 197, Florida Statutes. (j) As required by Section 170.07, Florida Statutes, upon completion of the preliminary assessment roll, the Board adopted Resolution 2015-20, fixing the time and place of a public hearing at which owners of the property to be assessed and other persons interested therein may appear before the Board and be heard as to (1) the propriety and advisability of making the infrastructure improvements constituting the Project, (2) the cost thereof, (3) the manner of payment therefore, and (4) the amount thereof to be assessed against each specially benefited property or parcel and provided for publication of notice of such public hearing and individual mailed notice in accordance with Chapters 170, 190 and 197, Florida Statutes. (m) Having considered the estimated costs of the Project, estimates of financing costs and all complaints and evidence presented at such public hearing, the Board of Supervisors of the District further finds and determines: (i) that the estimated costs of the Project is as specified in the Engineer’s Report, which Engineer’s Report is hereby adopted and approved, and that the amount of such costs is reasonable and proper; and (ii) it is reasonable, proper, just and right to assess the cost of such Project against the properties within the District specially benefited thereby using the method determined by the Board set forth in the Master Special Assessment Report dated September 22, 2015, Revised December 1, 2015, Page 80 (the “Assessment Report,” attached hereto as Exhibit B and incorporated herein by this reference), which results in the special assessments set forth on the final assessment roll (the “Special Assessments”); and (iii) it is hereby declared that the Project will constitute a special benefit to all parcels of real property listed on said final assessment roll and that the benefit, in the case of each such parcel, will be equal to or in excess of the Special Assessments thereon when allocated as set forth in Exhibit B; and (iv) it is in the best interests of the District that the Special Assessments be paid and collected as herein provided. SECTION 7. PAYMENT OF SPECIAL ASSESSMENTS AND METHOD OF COLLECTION. (a) The Special Assessments may be paid in not more than thirty (30) substantially equal consecutive annual installments of principal and interest. The Special Assessments may be paid in full without interest at any time within thirty (30) days after the completion of the Project and the adoption by the Board of a resolution accepting the Project; provided, however, that the Board shall at any time make such adjustments by resolution, at a noticed meeting of the Board, to that payment schedule as may be necessary and in the best interests of the District to account for changes in long and short term debt as actually issued by the District. All impact fee credits received shall be applied against the outstanding indebtedness of any debt issuance that funded the improvement giving rise to the credits which application may be addressed by such resolutions. At any time subsequent to thirty (30) days after the Project has been completed and a resolution accepting the Project has been adopted by the Board, the Special Assessments may be prepaid in full including interest amounts to the next succeeding interest payment date or to the second succeeding interest payment date if such a prepayment is made within forty-five (45) calendar days before an interest payment date. The owner of property subject to Special Assessments may prepay the entire remaining balance of the Special Assessments, or a portion of the remaining balance of the Special Assessment at any time if there is also paid, in addition to the prepaid principal balance of the Special Assessment, an amount equal to the interest that would otherwise be due on such prepaid amount on the next succeeding interest payment date, or, if prepaid during the forty-five day (45) period preceding such interest payment date, to the interest payment date following such next succeeding interest payment date. Prepayment of Special Assessments does not entitle the property owner to any discounts for early payment. (b) The District may elect to use the method of collecting Special Assessments authorized by Sections 197.3632 and 197.3635, Florida Statutes (the “Uniform Method”). The District has heretofore taken or will use its best efforts Page 81 to take as timely required, any necessary actions to comply with the provisions of said Sections 197.3632 and 197.3635, Florida Statutes. Such Special Assessments, with consent of the Trustee, may be subject to all of the collection provisions of Chapter 197, Florida Statutes. Notwithstanding the above, in the event the Uniform Method of collecting its special or non-ad valorem assessments is not available to the District in any year, or if determined by the District to be in its best interest, the Special Assessments may be collected as is otherwise permitted by law. The District may, with consent of the Trustee, collect Special Assessments by directly assessing landowner(s) and enforcing said collection in any manner authorized by law. Such special assessments shall at all times be collected in a manner consistent with applicable trust indenture. (c) For each year the District uses the Uniform Method, the District shall enter into an agreement with the Tax Collector of Collier County who may notify each owner of a lot or parcel within the District of the amount of the special assessment, including interest thereon, in the manner provided in Section 197.3635, Florida Statutes. SECTION 3. RATIFICATION OF RESOLUTION 2015-24. Except as modified by this resolution, Resolution 2015-24 shall remain in full force and effect and is hereby ratified and reaffirmed. SECTION 4. SEVERABILITY. If any section or part of a section of this Resolution be declared invalid or unconstitutional, the validity, force and effect of any other section or part of a section of this Resolution shall not thereby be affected or impaired unless it clearly appears that such other section or part of a section of this Resolution is wholly or necessarily dependent upon the section or part of a section so held to be invalid or unconstitutional. SECTION 5. CONFLICTS. All resolutions or parts thereof in conflict herewith are, to the extent of such conflict, superseded and repealed. SECTION 6. EFFECTIVE DATE. This Resolution shall become effective upon its adoption. APPROVED AND ADOPTED THIS 21st DAY OF DECEMBER, 2015. ________________________________ Secretary/Assistant Secretary Exhibit B: ____________________________________ Chairman, Board of Supervisors Master Special Assessment Report, dated September 22, 2015, revised December 1, 2015 Page 82