North Powerline Road Community Development District
Meeting Agenda February 23, 2022

February 16, 2022
North Powerline Road
Community Development District
219 E. Livingston St., Orlando, Florida 32801 Phone: 407-841-5524 – Fax: 407-839-1526

Board of Supervisors North Powerline Road
Community Development District

Dear Board Members:

A meeting of the Board of Supervisors of North Powerline Road Community Development District will be held Wednesday, February 23, 2022 at 1:00 PM at 346 East Central Ave., Winter Haven, FL 33880.

Zoom Video Link: https://us06web.zoom.us/j/87871687159

Call-In Information: 1-646-876-9923
Meeting ID: 878 7168 7159

Following is the advance agenda for the meeting:

Roll Call
Public Comment Period (1Speakers will fill out a card and submit it to the District Manager prior to the beginning of the meeting)
Approval of Minutes of the January 19, 2022 Board of Supervisors Meeting
Public Hearings
Public Hearing on the Imposition of Special Assessments on Boundary Amendment Parcels
Presentation of Third Amended and Restated Engineer’s Report Dated February 2022
Presentation of Amended and Restated Master Assessment Methodology
Consideration of Resolution 2022-04 Levying Special Assessments on Boundary Amendment Parcels
Consideration of Fourth Amended and Restated Notice of Special Assessments
Public Hearing on the District’s Use of the Uniform Method of Levying, Collection & Enforcement of Non-Ad Valorem Assessments on Boundary Amendment Parcels
Consideration of Resolution 2022-05 Expressing the District’s Intent to Utilize the Uniform Method of Collection on Boundary Amendment Parcels
Presentation and Approval of Supplemental Assessment Methodology for AA2

Comments will be limited to three (3) minutes
Consideration of Resolution 2022-06 Delegation Resolution
Consideration of Letter from FMS Bonds for Underwriter Services
Consideration of Resolution 2022-07 Setting a Public Hearing on the Adoption of Amenity Policies and Rates
Consideration of Conveyance Documents for Horse Creek Phase 1 and Phase 2
Consideration	of	Equipment	Lease/Purchase	Agreement	for	Playground Equipment (to be provided under separate cover)
Staff Reports
Attorney
Engineer
Field Manager’s Report
Consideration of Proposal for Security System at Amenity
District Manager’s Report
Approval of Check Register
Balance Sheet & Income Statement
Discussion Regarding Insurance on Bridge
Other Business
Supervisors Requests and Audience Comments
Adjournment

MINUTES
MINUTES OF MEETING NORTH POWERLINE ROAD
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the North Powerline Road Community Development District was held on Wednesday, January 19, 2022 at 1:30 p.m. at 346 East Central Ave., Winter Haven, Florida.

Present and constituting a quorum:

Rennie Heath	Chairman
Patrick Marone	Assistant Secretary
Kevin Chinoy	Assistant Secretary Also present were:
Jill Burns	District Manager/GMS
Roy Van Wyk	KE Law
Heather Wertz	District Engineer/Absolute
Marshall Tindall	GMS

The following is a summary of the discussions and actions taken at the January 19, 2022 North Powerline Road Community Development District’s Regular Board of Supervisor’s Meeting.

FIRST ORDER OF BUSINESS	Roll Call
Ms. Burns called the meeting to order and called the roll. Three Board members were present in person constituting a quorum.

SECOND ORDER OF BUSINESS	Public Comment Period
No members of the public were present via Zoom or in person. There being no public comments, the next item followed.

THIRD ORDER OF BUSINESS	Approval of Minutes of the December 15,
2021 Board of Supervisors Meeting
Ms. Burns presented the December 15, 2021 meeting minutes and asked for any comments, corrections, or changes. The Board had no changes to the minutes.
January 19, 2022	North Powerline Road CDD

FOURTH ORDER OF BUSINESS	Consideration of Notice of Boundary
Amendment
Ms. Burns noted that the boundary amendment was approved on January 4th and asked for a motion to approve.

FIFTH ORDER OF BUSINESS	Presentation	and	Approval	of	Third
Amended and Restated Engineer’s Report
Ms. Wertz presented the amended report and asked if there were any questions. Hearing none, Ms. Burns asked for a motion to approve.

SIXTH ORDER OF BUSINESS	Presentation and Approval of Amended
and	Restated	Master	Assessment Methodology
Ms. Burns noted that this report would amend the previous Master Assessment Methodology and presented the report. The Board had no questions.

SEVENTH ORDER OF BUSINESS	Consideration	of	Resolution	2022-01
Declaring	Special	Assessments	on Boundary Amendment Parcels
Ms. Burns presented the resolution and asked for approval. The Board had no questions.
January 19, 2022	North Powerline Road CDD

EIGHTH ORDER OF BUSINESS	Consideration	of	Resolution	2022-02
Setting a Public Hearing on the Imposition of Special Assessment on Boundary Amendment Parcels
Ms. Burns presented the contract and asked for approval. The Board had no questions. The Board set the public hearing for February 23, 2022 at 1:00 p.m.

NINTH ORDER OF BUSINESS	Consideration	of	Resolution	2022-03
Setting a Public Hearing Expressing the District’s Intent to Utilize the Uniform Method of Levying, Collecting, and Enforcing Non-Ad Valorem Assessments on Boundary Amendment Parcels

Ms. Burns presented the resolution, noting that it set a public hearing expressing the District’s intent to utilize the uniform method. She added they needed at least 30 days to send the mail notice for the public hearings and to place the advertising. The regular meeting would occur on February 16th, therefore there wouldn’t be enough time to place the notices. The Board decided to wait until February 23, 2022 at 1:00 p.m. to have the February meeting.

January 19, 2022	North Powerline Road CDD

TENTH ORDER OF BUSINESS	Consideration of Construction Funding
Agreement for Bella Vita Phase 3 and South Phase
Ms. Burns presented the agreement and asked for approval. The Board had no questions.

ELEVENTH ORDER OF BUSINESS	Consideration of Temporary Construction
and Access Easement Agreement for Bella Vita Phase 3 and South Phase RFP
Ms. Burns presented the agreement and asked for approval. The Board had no questions.

TWELTH ORDER OF BUSINESS	Rejection of Bid Received for South Phase
RFP
Ms. Burns presented the rejection of the bid and asked for approval of a notice of rejection.
The Board had no questions.

THIRTEENTH ORDER OF BUSINESS	Consideration of Notice of RFP for South
Phase Construction Services
*This item was tabled until further notice from Mr. Marone.

FOURTEENTH ORDER OF BUSINESS	Consideration of Arbitrage Rebate Report
for Series 2020 Bonds
Ms. Burns presented the report and asked for approval. The Board had no questions.
January 19, 2022	North Powerline Road CDD

FIFTEENTH ORDER OF BUSINESS	Staff Reports
Attorney
Mr. Van Wyk noted he had nothing further to report.

Engineer
Ms. Wertz had nothing further to report. There being none, the next item followed.

Field Manager’s Report
Mr. Tindall present the field manager’s report to the Board.

Consideration of Updated Landscape Maintenance Contract for Inclusion of New Phase
Mr. Tindall presented the updated contract from Prince, and Ms. Burns asked for a motion to approve. Mr. Van Wyk’s office will draft an addendum to the existing contract.

District Manager’s Report
Approval of Check Register
Ms. Burns reviewed the check register. The Board had no questions.

Balance Sheet and Income Statement
Ms. Burns stated that these were included in the packet and no action was needed.
SIXTEENTH ORDER OF BUSINESS	Other Business
There being none, the next item followed.
January 19, 2022	North Powerline Road CDD

SEVENTEENTH ORDER OF BUSINESS	Supervisors Requests and Audience
Comments
There being none, the next item followed.

EIGHTEENTH ORDER OF BUSINESS	Adjournment
Ms. Burns asked for a motion to adjourn.

Secretary / Assistant Secretary	Chairman / Vice Chairman

SECTION IV

SECTION A

S ECTION 1

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

ENGINEER’S REPORT
FOR CAPITAL IMPROVEMENTS
THIRD AMENDED AND RESTATED

Prepared for:

BOARD OF SUPERVISORS NORTH POWERLINE ROAD
COMMUNITY DEVELOPMENT DISTRICT

Prepared by:

ABSOLUTE ENGINEERING, INC. 1000 N. ASHLEY DRIVE, SUITE 925
TAMPA, FLORIDA 33602

FEBRUARY 2022

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

TABLE OF CONTENTS
INTRODUCTION	1
PURPOSE AND SCOPE	2
THE DEVELOPMENT	3
THE CAPITAL IMPROVEMENTS	3
CAPITAL IMPROVEMENT PLAN COMPONENTS	4
Stormwater Management Facilities	4
Public Roadways	5
Water and Wastewater Facilities	6
Off-site Improvements	6
Amenities and Parks…	6
Electric and Lighting…	6
Entry Features…	7
Miscellaneous	7
PERMITTING	7
RECOMMENDATION.	10
REPORT MODIFICATION	10
CONCLUSION	10
LIST OF EXHIBITS

EXHIBIT 1- Location Map
EXHIBIT 2- Legal Description Existing District EXHIBIT 3- Legal Description Expansion Parcels EXHIBIT 4- Legal Description After Boundary Expansion EXHIBIT 5- Summary of Proposed District Facilities EXHIBIT 6- Summary of Opinion of Probable Costs
EXHIBIT 7- Composite Exhibit Existing and Future Land Use EXHIBIT 8- Water and Sewer Locations
EXHIBIT 9- Overall Site Plan
ENGINEER’S REPORT NORTH POWERLINE ROAD
COMMUNITY DEVELOPMENT DISTRICT

INTRODUCTION

The North Powerline Road Community Development District (the “District”) is north of North Blvd East and east of Hwy 17-92 N partially within unincorporated Polk County, (the “County”) Florida and partially within Davenport (the “City”). The District currently contains approximately 271.64 gross acres, and is expected to be constructed in Six (6) phase and consist of 1825 single family lots, recreation / amenity areas, parks, and associated infrastructure. The District previously amended its boundaries (“Boundary Amendment No. 3”) to include an additional 154.43 acres (“Expansion Parcels”) to the lands within the District. This report includes information regarding the Expansion Parcels in various exhibits.

The District was established under County Ordinance No. 18-036, as approved by the County Commission on June 5, 2018, further amended by County Ordinance 20-028 and county Ordinance 20-046 and County Ordinance 22-001. The District will own and operate the public roadways and stormwater management facilities, as well as the landscape, irrigation, signage, and recreational facilities within the development.

Public improvements and facilities financed, acquired, and/or constructed by the District will be designed and constructed to conform to regulatory criteria from the City, the County, Southwest Florida Water Management District (SWFWMD), and other applicable agencies with regulatory jurisdiction over the development. An overall estimate of probable cost of the public improvements is provided in Exhibit 6 of this report.

This “Capital Improvement Plan” or “Report” reflects the present intentions of the District and the landowners. It should be noted that the location of proposed facilities and improvements may be adjusted during the final design, permitting, and implementation phases. It should also be noted that these modifications are not expected to diminish the
benefits received by the property within the District. The District reserves the right to make reasonable adjustments to the development plan to meet applicable regulatory requirements of agencies with jurisdiction over the development, while maintaining comparable level of benefits to the lands served by the improvements. Changes and modifications are expected as changes in regulatory criteria are implemented.

Implementation of any proposed facilities or improvements outlined in this Report requires written approval from the District’s Board of Supervisors. Estimated costs outlined in this report are based on best available information, which includes but is not limited to previous experience with similar projects. Actual costs could be different than estimates because final engineering and specific field conditions may affect construction costs.

All roadway improvements including common area sidewalks in the right-of-way and storm drainage collection systems (from the curb inlets to their connection to the stormwater ponds) within the development will be maintained by the District. Water distribution and wastewater collection systems (gravity lines, force mains, and lift stations) will, upon completion, be dedicated to the City for ownership and maintenance.

PURPOSE AND SCOPE

The purpose of this Report is to provide engineering support to fund improvements in the current District and to reflect changes in the Capital Improvement Plan. Phase 1 and Phase 2 remain unchanged. This Report will identify the proposed public infrastructure to be constructed or acquired by the District along with an opinion of probable cost.

Contained within this Report is a brief description of the public infrastructure to be constructed or acquired by the District. The District will finance, construct, acquire, operate, and maintain all or specific portions of the proposed public infrastructure. An assessment methodology consultant has been retained by the District, who will develop the assessment and financing methodology to be applied using this Report. The predominant portion of this Report provides descriptions of the proposed public infrastructure improvements, determination of estimated probable construction costs, and the corresponding benefits associated with the implementation of the described improvements.
Detailed site construction plans and specifications have not yet been completed and permitted for the improvements described herein. The engineer has considered, and in specific instances has relied upon, the information and documentation prepared or supplied by others, and information that may have been provided by public entities, public employees, the landowner, site construction contractors, other engineering professionals, land surveyors, the District Board of Supervisors, and its staff and consultants.

THE DEVELOPMENT

The Development will consist of 1825 single family homes and associated infrastructure (“Development”). The Development is a planned residential community located north of South Blvd East and east of Hwy 17-92 N partially within the County and partially within the City. The Development has received zoning approval by the City and County. The property has an underlying Future Land Use Designation of RM (Residential Medium) in the City and County. It is currently anticipated that the development will be constructed in six (6) phases. Following is a summary of proposed lot sizes per phase:
	SF Lot Width	SF Lot Width	SF Lot Width	SF Lot Width	SF Lot Width	SF Lot Width	SF TOTAL	
Phase	20'	40'	50'	55'	65'	80'		
1		244		48	3		295	
2		228	44				272	
3			158			4	162	
4	300	8					308	
5	532						532	
6		164	92				256	
Total	832	644	294	48	3	4	1825	

THE CAPITAL IMPROVEMENTS

The current Capital Improvement Plan, (the “CIP”), consists of public infrastructure in phases 1-6 including stormwater pond construction, roadways, water and sewer facilities and public off-site improvements (including public turn lanes and extension of roadway, water mains and sewer mains to serve the development).
There will also be stormwater structures and conveyance culverts within the CIP which will outfall into the on-site retention ponds. These structures and pond areas comprise the overall stormwater facilities of the CIP. Installation of the water distribution and wastewater collection system will also occur at this time. Below ground installation of power, telecommunications and cable TV will occur, but will not be funded by the District. Installation of street lights within the public right of way will not be funded by the District.

As a part of the recreational component of the CIP, a public park/amenity center will be constructed adjacent to Horse Creek in Phase 1 of the existing District. The public park/amenity center will have connectivity via sidewalks to the other portions of the District. The public park/amenity center will be accessed by the public roadways and sidewalks.

CAPITAL IMPROVEMENT PLAN COMPONENTS

The system of improvements comprising the Capital Improvement Plan for the District includes the following:

Stormwater Management Facilities
Stormwater management facilities consist of storm conveyance systems and retention ponds contained within the District boundaries. Stormwater runs off via roadway curb and gutter to storm inlets. Storm culverts convey the runoff into the proposed retention ponds for water quality treatment and attenuation. The proposed stormwater systems will utilize wet retention for biological pollutant assimilation to achieve water quality treatment. The design criteria for the District’s stormwater management systems is regulated by the City, the County, and the SWFWMD. There are no known surface waters, but there are natural wetlands on or immediately adjacent to the Development.

Federal Emergency Management Agency Flood Insurance Rate Map (FEMA FIRM) Panel No. 12105C-0240G (dated 12/22/2016) demonstrates that the majority of the property is located within Flood Zone X and the remainder in Flood Zone A. Based on this information and the site topography, floodplain compensation will be required.

During the construction of stormwater management facilities, utilities and roadway improvements, the contractor will be required to adhere to a Stormwater Pollution Prevention Plan (SWPPP) as required by Florida Department of Environmental Protection (FDEP) as delegated by the Environmental Protection Agency (EPA). The SWPPP will be prepared to depict for the contractor the proposed locations of required erosion control measures and staked turbidity barriers specifically along the down gradient side of any proposed construction activity. The site contractor will be required to provide the necessary reporting on various forms associated with erosion control, its maintenance and any rainfall events that occur during construction activity.

Public Roadways
The proposed internal public roadway sections are to be 40’ and 50' R/W with 24’ of asphalt and Miami curb and gutter on both sides. The proposed roadway section will consist of stabilized subgrade, lime rock, crushed concrete or cement treated base and asphalt wearing surface. The proposed curb is to be 2' wide and placed along the edge of the proposed roadway section for purposes of protecting the integrity of the pavement and also to provide stormwater runoff conveyance to the proposed stormwater inlets. Underdrain is provided as necessary to control groundwater and protect the roadway base material. The extension of Powerline Road from 17-92 to South Boulevard is a four lane divided collector road, comprised of 110' R/W consisting of 4 travel lanes, bike lanes and sidewalks on both sides. This section includes 58’ of asphalt and Type F curb and gutter on both sides. The proposed roadway section will consist of stabilized subgrade, lime rock, crushed concrete or cement treated base and asphalt wearing surface. The proposed curb is to be 2' wide and placed along the edge of the proposed roadway section for purposes of protecting the integrity of the pavement and also to provide stormwater runoff conveyance to the proposed stormwater inlets. Underdrain is provided as necessary to control groundwater and protect the roadway base material. There is a bridge over Horse Creek connecting Phases 1 and 2.

The proposed roadways will also require signing and pavement markings within the public rights-of-way, as well as street signs depicting street name identifications, and addressing, which will be utilized by the residents and public. As stated above, the District's funding of roadway construction will occur for all public roadways.
Water and Wastewater Facilities
A potable water system inclusive of water main, gate valves, fire hydrants and appurtenances will be installed for the Development. The water service provider will be the City of Davenport Public Utilities. The water system will be a "looped" system. These facilities will be installed within the proposed public rights-of-way within the District. This water will provide the potable (domestic) and fire protection services which will serve the entire District.

A domestic wastewater collection system inclusive of gravity sanitary sewer mains and sewer laterals will be installed. The gravity sanitary sewer mains will be 8" diameter PVC. The gravity sanitary sewer lines will be placed inside of the proposed public rights-of-way, under the proposed paved roadways. Branching off from these sewer lines will be laterals to serve the individual lots. No funds provided by the District will be used to provide lines on privately held lands. A lift station is anticipated for this CIP. Flow from the lift station shall be connected to a proposed sewer manhole southwest of the site.

Reclaimed water is not available for this site. An irrigation well to be funded by the District will be installed onsite to provide irrigation within the public right of way or irrigation water service shall be provided as part of the domestic water system design. Any water, sewer, or reclaim water pipes or facilities placed on private property will not be publicly funded.

Off-Site Improvements
The District will provide funding for the anticipated roadway connections to the Development and offsite utility extensions required for the Development. The site construction activities associated with the CIP are anticipated for completion in 2023. Upon completion of these improvements, inspection/certifications will be obtained from the SWFWMD; the Polk County Health Department (water distribution system), Florida Department of Environmental Protection (FDEP) (wastewater collection) and the City/County.
Amenities and Parks

The District will provide funding for the recreational facilities including parks and an Amenity Center to include the following: parking area, pavilion with restroom facilities, pool, tot lot, dog park/all-purpose play field, and walking trails between the phases to provide connectivity to the Amenity Center. All amenities and parks provided by the District will be accessible and available for use by the general public.
Electric and Lighting
The District presently intends to fund and construct the incremental cost of undergrounding of the electric
conduit for the required electrical system. The electrical system, including conduit, transformer/cabinet pads, and electric manholes not funded by the District will be owned and maintained by DUKE, with DUKE providing underground electrical service to the Development. The purchase and installation of street lighting along internal roadways within the District will not be funded by the District. These lights will be owned, operated and maintained by DUKE after dedication, with the District funding maintenance services. All improvements funded by the District will be on land owned by, or on which a permanent easement is granted in favor of the District or other governmental entity.

Entry Feature
Landscaping, irrigation, entry features and buffer walls at the entrances and along the outside boundary of the Development will be provided by the District. The irrigation system will use an irrigation well. The well and irrigation watermains to the various phases of the development will be constructed or acquired by the District with District funds and operated and maintained by the District. Landscaping for the roadways will consist of sod, annual flowers, shrubs, ground cover and trees for the internal roadways within the District. It should be noted that the District is only funding the capital landscaping costs. Perimeter buffer fencing will be provided at the site entrances and perimeters. These items will be funded, owned and maintained by the District.
Miscellaneous
The electric distribution system throughout the District is currently planned to be underground. The stormwater improvements, landscaping and irrigation, recreational improvements, street lighting, and certain permits and professional fees as described in this report, are being financed by the District with the intention for benefiting all of the developable real property within the District. The construction and maintenance of the proposed public improvements will benefit the development for the intended use as a single-family planned development.

PERMITTING
Construction permits for all phases are required and include the SWFWMD Environmental Resource Permit (ERP), Polk County Health Department, Florida Department of Environmental Protection (FDEP), Army Corps of Engineer Permit (ACOE), and City and County construction plan approval. Following is a summary of required permits obtained and pending for the construction of the public infrastructure improvements for the District:
PHASE 1

Permits / Approvals	Approval / Expected Date	
Zoning Approval	City Ordinances 878, 946, 947,952 and 960	
Preliminary Plat	7-20-20	
SWFWMD ERP	43044217.002 and 43044217.003	
Construction Permits	200760	
Polk County Health Department Water	139102-070 & 0139102-073 DS/C	
FDEP Sewer	CS53-0232639-040-DWC/CM & CS53-0232639-048-DWC/CM	

PHASE 2

Permits / Approvals	Approval / Expected Date	
Zoning Approval	City Ordinances 878, 945, 953,954 and 960	
Preliminary Plat	7-20-20	
SWFWMD ERP	43044217.003 and 43044217.004	
Construction Permits	200975	
Polk County Health Department Water	0139102-073 DS/C & 0139102-074 DS/C	
FDEP Sewer	CS53-0232639-048-DWC/CM &CS53-0232639-048-DWC/CM	

PHASE 3

Permits / Approvals	Approval / Expected Date	
Zoning Approval	City Ordinances 936, 937,941 and 960	
Preliminary Plat	Approved	
SWFWMD ERP	Approved	
Construction Permits	February 2022	
Polk County Health Department Water	March 2022	
FDEP Sewer	March 2022	

PHASE 4

Permits / Approvals	Approval / Expected Date	
Zoning Approval	County RMX	
Preliminary Plat	N/A	
SWFWMD ERP	February 2022	
Construction Permits	Approved	
Polk County Health Department Water	March 2022	
FDEP Sewer	March 2022	

PHASE 5

Permits / Approvals	Approval / Expected Date	
Zoning Approval	County RMX	
Preliminary Plat	June 2022	
SWFWMD ERP	June 2022	
Construction Permits	June 2022	
Polk County Health Department Water	June 2022	
FDEP Sewer	June 2022	

PHASE 6

Permits / Approvals	Approval / Expected Date	
Zoning Approval	County RMX	
Preliminary Plat	June 2022	
SWFWMD ERP	June 2022	
Construction Permits	June 2022	
Polk County Health Department Water	June 2022	
FDEP Sewer	June 2022	

RECOMMENDATION

As previously described within this report, the public infrastructure as described is necessary for the development and functional operation as required by the City and County. The site planning, engineering design and construction plans for the infrastructure are in accordance with the applicable requirements of the City, County, SWFWMD, FDEP and ACOE. It should be noted that the infrastructure will provide its intended use and function so long as the construction and installation is in substantial conformance with the design construction plans and regulatory permits.

Items utilized in the Opinion of Probable Costs for this report are based upon proposed plan infrastructure as shown on construction drawings incorporating specifications in the most current SWFWMD and the City regulations.

REPORT MODIFICATION

During development and implementation of the public infrastructure improvements as described for the District, it may be necessary to make modifications and/or deviations for the plans. However, if such deviations and/or revisions do not change the overall primary objective of the plan for such improvements, then the costs differences would not materially affect the proposed cost estimates. This report may be further amended or supplemented from time to time to provide for such changes in the development plan.

CONCLUSION

It is our professional opinion that the public infrastructure costs for the CIP provided in this Report are reasonable to complete the construction of the public infrastructure improvements. Furthermore, the public infrastructure improvements will benefit and add value to lands within the District at least equal to the costs of such improvements.

The Opinion of Probable Costs of the public infrastructure improvements is only an estimate and is not a guaranteed maximum price. The estimated costs are based upon unit prices currently experienced on an ongoing and similar basis for work in the County. However, labor market, future
costs of equipment, materials, changes to the regulatory permitting agencies activities, and the actual construction processes employed by the chosen site contractor are beyond the engineer’s control. Due to this inherent opportunity for changes (upward or downward) in the construction costs, the total, final construction cost may be more or less than this estimate.

Based upon the presumption that the CIP construction continues in a timely manner, it is our professional opinion that the proposed public infrastructure improvements when constructed and built in substantial conformance with the approved plans and specifications, can be completed and used for their intended function. Be advised that we have utilized historical costs and direct unit costs from site contractors and consultants in the City and County, which we believe to be necessary in order to facilitate accuracy associated with the Opinion of Probable Costs. Based upon the information above, it is our professional opinion that the acquisition and construction costs of the proposed CIP can be completed at the cost as stated.

CDD ADDITION
MAP ID PARCELID
21	272702713000040190
22	272702713000040210
23	272702713000040230

01
12	02	03
04

28	272710730000022700
29	272715739500010011
29	272715739500010050
30	272715740000000010
31	272702713000030191
32	272702713000030211
33	272710730000010904
05

06	11
07	09 10	31	32
08 20

13	21  22	23
15	14	24
33 16
25
CDD EXISTING
16

17 18

19
19
26

MAP ID PARCELID
01	272634000000022030
02	272634000000022020
03	272635000000044010
04	272703713500010031
05	272703000000011000
06	272703713500010200
07	272703713500010294
08	272703713500010282
09	272703713500010220

CDD
27
28
29	29
30
10	272703713500010231
11	272702713000030172
12	272634000000024120
13	272702713000040170
14	272702713000040310
15	272703713500020070
16	272710730000011202
16	272710730000010901
17	272710730000012000
18	272710730000012200
19	272710733500006011
CDD Addition
19	272710730000020500
Garmin, USGS, Intermap, INCREMENT P, NRCan, Esri Japan, METI, Esri China (Hong Kong), E	, (c)
CDD Contraction
20	272703713500010232
OpenStreetMap contribu	nity
¯

MAP DATE: 8/30/2021
Absolute Engineering,Inc makes no Warranty, representation, or guaranty as to the content, sequence, accuracy,timeliness,or completeness of any of the geodata information provided herein. Service Layer Credit:ESRI,HERE,Delorme,USGS,Intermap,OpenStreetMap contributors, and the GIS community.

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LEGAL DESCRIPTION.:

PARCEL 19: (272710- 730000-0 20500, 272710 -733500- 006011)

TRACTS 5  AND 6 IN SE 1/4	OF SECTION 10, TOWNSHIP 27 SOUTH, RANGE 27 EAST, FLORIDA DEVELOPMENT COMPANY TRACT, ACCORDING  TO THE MAP OR  PLAT THEREOF f,S  RECORDED  IN PLAT BOOK 3, PAGE 60, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, L£SS THE NORTH 25 FEET FOR ROAD
RIGHT-OF-WAY.

AND

THE WEST 45 FEET OF BLOCK 6, AND THE WEST 45 FEET OF SYLVAN WAY, DRUID HILLS UNIT NUMBER ONE ACCORDING TO THE MAP OR PLAT THEREOF >S RECORDED IN PLAT BOOK 15, PAGE 19, PUBLIC RECORDS OF POLK COUNTY, FLORIDA.

PARCEL 20: (272703- 713 500-0 10232)
SOUTH 100 FEET OF WEST 84.74 FEET OF TRACT 23, SOUTH 15 FEET OF TRACT 25 AND SOUTH 15' OF E ¾ OF TRACT 26 AND W J4 OF TRACT 26 AND SOUTH 15 FEET OF TRACT 27, FLORIDA DEVELOPMENT COMPANY SUBDMSION, ACCORDING TO PLAT THEREOF AND RECORDED IN PLAT BOOK 3 PAGES 60 THROUGH 63, PUBLIC RECORDS OF POLK COUNTY, FLORIDA.

NOTE: SUBJECT TO AN EASEMENT TO FLORIDA POWER CO. FOR POWER LINE f,S OF RECORD AND/OR IN USE.

CONTAINING 271.64 ACRES MORE OR LESS•

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 LEGAL DESCRIPTION:
 PARCEL NUMBER 21: (272702-713000-040190)

 PARCEL NUMBER 22: (272702-713000-040210

 PARCEL NUMBER 23: (272702-713000-040230)

 PARCEL NUMBER24: (272702-713000-040251)

 PARCEL NUMBER 25: (272702-713000-040260)

 PARCEL NUMBER 26: 272710-730000-021201)

 PARCEL NUMBER 27:  (272710-730000-022200)

 PARCEL NUMBER 28:  (272710-730000-022700)

 PARCEL NUMBER 29: (272715-739500-010011 AND 272715-739500-010050)

 LEGAL DESCRIPTION:
 PARCEL NUMBER 30: (272715-740000-000010)

 PARCEL NUMBER 31: 272702-713000-030191

  

 	

 LESS A PORTION OF PARCEL 31: 27-27-02-713000-030191						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 3
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
2 OF 3	

 LEGAL DESCRIPTION:
 PARCEL NUMBER 32: 272702-713000-030211

 PARCEL NUMBER 33: 272710-730000-010904

 LESS A PORTION OF EXISTING PARCEL 4: 272703-713500-010031

 LESS EXISTING PARCEL 20: (272703-713500-010232)	
¾							
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 3
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
2 OF 3	

 LEGAL DESCRIPTION:

 PARCEL  1 (272634-000000-022030)

 PARCEL  2 (272634-000000-022020)

 PARCEL  3 (272635-000000-044010)

 	     	
 PARCEL 4 (272703-713500-010031)

 PARCEL 5 (272703-000000-011000)	
 	 	 	 	 
 PARCEL 6 (272703-713500-010200)	                  

 PARCEL 7 (272703-713500-010294)						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
1 OF 7	

 LEGAL DESCRIPTION:

 PARCEL  8 (272703-713500-010282)

 PARCEL  9 (272703-713500-010220)

  

 PARCEL 10 (272703-713500-010231)

 PARCEL 11 (272702-713000-030172)	           

 PARCEL 12 (272634-000000-024120)	

	 ”

 PARCEL 13: (272702-713000-040170)						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
2 OF 7	

 LEGAL DESCRIPTION:

 PARCEL  14: (272702-713000-040310)

 PARCEL  15: (272703-713500-020070)

  
 PARCEL	
 	 	
·
 	 	 	 	
(1)		 

(2)	

(3)	
 	
(4)	                              
   	 	
(5)							
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
3 OF 7	

 LEGAL DESCRIPTION:

·

 PARCEL 17: (272710-730000-012000)

AND	

 PARCEL 18: (272710-730000-012200)							
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
4 OF 7	
 LEGAL DESCRIPTION:

 PARCEL 19: (272710-730000-020500, 272710-733500-006011)

 AND

 PARCEL 20: (272703-713500-010232)

¾

 PARCEL NUMBER 21: (272702-713000-040190)

 PARCEL NUMBER 22: (272702-713000-040210

 PARCEL NUMBER 23: (272702-713000-040230)

 PARCEL NUMBER24: (272702-713000-040251)

 PARCEL NUMBER 25: (272702-713000-040260)

 PARCEL NUMBER 26: 272710-730000-021201)

 PARCEL NUMBER 27:  (272710-730000-022200)

 PARCEL NUMBER 28:  (272710-730000-022700)

 LEGAL DESCRIPTION:
 PARCEL NUMBER 29: (272715-739500-010011 AND 272715-739500-010050)

 PARCEL NUMBER 30: (272715-740000-000010)

 PARCEL NUMBER 31: 272702-713000-030191

 LESS A PORTION OF PARCEL 31: 27-27-02-713000-030191						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
6 OF 7	

 LEGAL DESCRIPTION:

 PARCEL NUMBER 32: 272702-713000-030211

 PARCEL NUMBER 33: 272710-730000-010904

 LESS A PORTION OF EXISTING PARCEL 4: 272703-713500-010031

 	

 LESS EXISTING PARCEL 20: (272703-713500-010232)	      
¾	  						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
7 OF 7	
Exhibit 5
Summary of Proposed District Facilities

District Infrastructure	Construction	Ownership	Capital Financing*	Operation and
Maintenance	
Entry Feature & Signage	District	District	District Bonds	District	
Stormwater Facilities	District	District	District Bonds	District	
Lift Stations/Water/Sewer	District	City of Davenport	District Bonds	City of Davenport	
Street Lighting/Conduit	District	Duke/District**	District Bonds	Duke/District***	
Road Construction	District	District	District Bonds	District	
Parks & Amenities	District	District	District Bonds	District	
Offsite Improvements	District	FDOT	District Bonds	FDOT	
*Costs not funded by bonds will be funded by the developer
** District will fund undergrounding of electrical conduit
***District will fund street lighting maintenance services

Exhibit 6 Summary of Probable Cost

Infrastructure (12)	Phase 1 (295 Lots)
2020‐2023	Phase 2 (272 Lots)
2020‐2023	Phase 3 (162 Lots)
2021‐2023	Phase 4 (308 Lots)
2022‐2023	Phase 5 (532 Lots)
2022‐2023	Phase 6 (256 Lots)
2022‐2023	Powerline Road
Extension	Total
(1825 Lots)	
Offsite Improvements(1)(5)(7)(11)	$1,150,467	$1,060,770	$819,867	$1,297,418	$2,248,295	$1,098,791	$0	$7,675,609	
Stormwater Management
(1)(2)(3)(5)(6)(7)	$1,936,035	$1,785,089	$1,379,692	$2,183,327	$3,783,485	$1,849,071	$1,500,000	$14,416,699	
Utilities (Water, Sewer, & Street Lighting) (1) (5)(7) (9)(11)	$1,765,823	$1,628,148	$1,258,392	$1,991,374	$3,450,849	$1,686,505	$500,000	$12,281,092	
Roadway (1)(4)(5)(7)	$878,980	$1,897,225	$603,766	$955,444	$1,655,688	$809,171	$7,900,000	$14,700,274	
Entry Feature (1)(7)(8)911)	$109,348	$100,823	$66,803	$105,713	$183,191	$89,529	$0	$655,407	
Parks and Amenities (1)(7)(11)	$459,264	$423,456	$280,571	$443,996	$769,400	$376,023	$0	$2,752,710	
Contingency(11)	$692,425	$638,440	$440,909	$697,728	$1,209,092	$590,910	$100,000	$4,369,504	
TOTAL	$6,992,342	$7,533,951	$4,850,000	$7,675,000	$13,300,000	$6,500,000	$10,000,000	$56,851,293	

Notes:
Infrastructure consists of public roadway improvements, Stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and public neighborhood parks, all of which will be located on land owned by or subject to a permanent easement in favor of the District or another governmental entity.
Excludes grading of each lot in conjunction with lot development and home construction, which will be provided by home builder.
Includes Stormwater pond excavation. Does not include the cost of transportation of fill for use of private lots.
Includes sub‐grade, base, asphalt paving, curbing, and civil/site engineering.
Includes subdivision infrastructure and civil/site engineering.
Stormwater does not include grading associated with building pads.
Estimates are based on 2022 cost.
Includes entry features, signage, hardscape, landscape, irrigation and fencing.
CDD will enter into a Lighting Agreement with Duke Energy for the street light poles and lighting service. Includes only the incremental cost of undergrounding.
Estimates based on 1825 lots.
The costs associated with the infrastructure are a master cost and is effectively shared by the entire project (All phases).
Phasing and cost figures provided herein relate to the existing District.

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EC-EmploymentCenter BPC-1-Busines ParkCenter

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S E CTION 2	-

AMENDED AND RESTATED MASTER ASSESSMENT METHODOLOGY

FOR

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

Date: January 19, 2022

Prepared by

Governmental Management Services – Central Florida, LLC 219 E. Livingston St.
Orlando, FL 32801

Table of Contents

Introduction	3
Purpose	3
Background	4
Special Benefits and General Benefits	5
Requirements of a Valid Assessment Methodology	5
Special Benefits Exceed the Costs Allocated	6
Assessment Methodology	6
Overview	6
Allocation of Debt	6
Allocation of Benefit	7
Lienability Test: Special and Peculiar Benefit to the Property	7
Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments	8
3.0 True-Up Mechanism	9
4.0 Assessment Roll	9
5.0 Appendix	10
Table 1: Development Program	10
Table 2: Capital Improvement Cost Estimates	11
Table 3: Bond Sizing	12
Table 4: Allocation of Improvement Costs	13
Table 5: Allocation of Total Par Debt to Each Product Type	14
Table 6: Par Debt and Annual Assessments	15
Table 7: Preliminary Assessment Roll	16

GMS-CF, LLC does not represent the North Powerline Road Community Development District as a Municipal Advisor or Securities Broker nor is GMS-CF, LLC registered to
provide such services as described in Section 15B of the Securities and Exchange Act of 1934, as amended. Similarly, GMS-CF, LLC
does not provide the North Powerline Road Community Development District with financial advisory services or offer investment advice in any form.
Introduction

The North Powerline Road Community Development District (the “District”) is a local unit of special-purpose government organized and existing under Chapter 190, Florida Statutes as amended. The District anticipates the issuance at this time of not to exceed
$73,000,000 of tax exempt bonds in one or more series (the “Bonds”) for the purpose of financing certain infrastructure improvements (“Capital Improvement Plan”) within the District more specifically described in the Engineer’s Report for Capital Improvements Third Amended and Restated dated October 2021 prepared by Absolute Engineering, Inc. as may be amended and supplemented from time to time (the “Engineer’s Report”). The District anticipates the construction of all or a portion of the Capital Improvement Plan that benefit property owners within the District.

Purpose

The Board of Supervisors (“Board”) of the District previously approved the Master Assessment Methodology, dated February 2, 2020 (the “Master Report”). The Master Report established an assessment methodology the District followed to allocate debt assessments to properties within the District benefitting from the District’s CIP. Such assessments secure repayment of the Bonds. The District also previously adopted as a supplement to the Master Report, at the time of the issuance of the District’s
$12,685,000 Special Assessment Bonds, Series 2020 (“Series 2020 Bonds”), Supplemental Assessment Methodology report dated December 2, 2020 (“Series 2020 Supplemental Report”). The Series 2020 Bonds remain unchanged by this report. The Series 2020 Supplemental Report applied the methodology to the details of the Series 2020 Bonds to allocate debt assessments (“Series 2020 Assessments”) to properties within the District to secure the repayment of the Series 2020 Bonds.

The methodology established by the Master Report allocated debt assessments to planned future units of residential product types. Since adoption of the Master Report, there have been expansions to the Districts boundaries to add new parcels within the District, such that not all of the assumed planned lots found in the Master Report represent the development planned for the District and so must be revised. Specifically, the revised development plan revises the unit mix to include additional 591 lots in Phase 3, Phase 4, Phase 5 and Phase 6 as well as additional of-site improvements as indicated in the Engineers Report.

This Amended and Restated Master Assessment Methodology amends and restates the original approved Master Report (collectively, the “Assessment Report”) provides for an assessment methodology that reflects the additional parcels, improvements, and planned lots.
This Assessment Report continues to allocate the debt to properties based on the special benefits each receives from the Capital Improvements. This Assessment Report will be supplemented with one or more supplemental methodology reports to reflect the actual terms and conditions at the time of the issuance of each series of Bonds issued to finance all or a portion of the Capital Improvements. This Assessment Report is designed to conform to the requirements of Chapters 190 and 170, Florida Statutes, with respect to special assessments and is consistent with our understanding of case law on this subject.

The District intends to levy, impose and collect non ad valorem special assessments (“Special Assessments”) on the benefited lands within the District securing repayment of the Bonds based on this Assessment Report. It is anticipated that all of the proposed Special Assessments will be collected through the Uniform Method of Collection described in Section 197.3632, Florida Statutes or any other legal means available to the District. It is not the intent of this Assessment Report to address any other assessments, if applicable, that may be levied by the District including those for maintenance and operation of the Bonds, a homeowner’s association, or any other unit of government.

Background

The District currently includes approximately 271.64 acres partially located within City of Davenport and partially within unincorporated Polk County, Florida. The District is also being expanded to include an additional 157.87 acres, for a total of
acres after expansion. The development program for the District currently envisions approximately 1,868 residential units. The proposed development program is depicted in Table 1. It is recognized that such land use plan may change, and this Assessment Report will be modified or supplemented accordingly.

The improvements contemplated by the District in the Capital Improvement Plan will provide facilities that benefit property within the District. Specifically, the District will construct and/or acquire certain offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features. The acquisition and construction costs are summarized in Table 2.

The assessment methodology is a four-step process.

The District Engineer must first determine the public infrastructure improvements that are to be provided by the District and the costs to implement the Capital Improvement Plan.
The District Engineer determines the assessable acres that benefit from the District’s Capital Improvement Plan.
A calculation is made to determine the funding amounts necessary to acquire and/or construct the Capital Improvement Plan.
This amount is initially divided equally among the benefited properties on a prorated assessable acreage basis. Ultimately, as land is platted, this amount will be assigned to each of the benefited properties based on the number of platted units.

Special Benefits and General Benefits

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

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

There is no doubt that the general public and property owners outside of the District will benefit from the provision of the Capital Improvement Plan. However, these benefits will be incidental for the purpose of the Capital Improvement Plan, which is designed solely to meet the needs of property within the District. Properties outside of the District boundaries do not depend upon the District’s Capital Improvement Plan. The property owners within the District are therefore receiving special benefits not received by those outside the District’s boundaries.

Requirements of a Valid Assessment Methodology

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

The properties must receive a special benefit from the improvements being paid for.
The assessments must be fairly and reasonably allocated to the properties being assessed based on the special benefit such properties receive.

Florida law provides for a wide application of special assessments that meet these two characteristics of special assessments.

Special Benefits Exceed the Costs Allocated

The special benefits provided to the property owners within the District will be greater than the costs associated with providing these benefits. The District Engineer estimates that the District’s Capital Improvement Plan that is necessary to support full development of property within the District will cost approximately $56,891,293. The District’s Underwriter projects that financing costs required to fund the Capital Improvement Plan costs, the cost of issuance of the Bonds, the funding of a debt service reserve account and capitalized interest, will be approximately $73,000,000. Without the Capital Improvement Plan, the property within the District would not be able to be developed and occupied by future residents of the community.

Assessment Methodology

Overview

The District anticipates issuing approximately $73,000,000 in Bonds in one or more series to fund the District’s entire Capital Improvement Plan, provide for capitalized interest, a debt service reserve account and pay cost of issuance. It is the purpose of this Assessment Report to allocate the $73,000,000 in debt to the properties within the District benefiting from the Capital Improvement Plan. This report will be supplemented to reflect actual bond terms.

Table 1 identifies the land uses as identified by the Developer within the District. The District has commissioned an Engineer’s Report that includes estimated construction costs for the Capital Improvement Plan needed to support the development, which these construction costs are outlined in Table 2. The improvements needed to support the development are described in detail in the Engineer’s Report and are estimated to cost $56,891,293. Based on the estimated costs, the size of the bond issue under current market conditions needed to generate funds to pay for the Capital Improvement Plan and related costs was determined by the District’s Underwriter to total approximately $73,000,000. Table 3 shows the breakdown of the bond sizing.

Allocation of Debt

Allocation of debt is a continuous process until the development plan for the District is completed. Until the platting process occurs, the Capital Improvement Plan funded by District bonds benefits all assessable acres within the District.

The initial assessments will be levied on an equal basis to all assessable acreage within the District. A fair and reasonable methodology allocates the debt incurred by the District proportionately to the properties receiving the special benefits. At this point all of the lands within the District are benefiting from the improvements.

Once platting or the recording of a declaration of condominium of any portion of the District into individual lots or units (“Assigned Properties”) has begun, the assessments will be levied to the Assigned Properties based on the benefits they receive, on a first platted, first assigned basis. The “Unassigned Properties” defined as property that has not been platted or subjected to a declaration of condominium, will continue to be assessed on a per acre basis. Eventually the development plan will be completed and the debt relating to the bonds will be allocated to the platted units within the District, which are the beneficiaries of the Capital Improvement Plan, as depicted in Table 5 and Table 6. If there are changes to development plan, a true up of the assessment will be calculated to determine if a debt reduction or true-up payment from the Developer is required. The process is outlined in Section 3.0.

The assignment of debt in this Assessment Report sets forth the process by which debt is apportioned. As mentioned herein, this Assessment Report will be supplemented from time to time.

Allocation of Benefit

The Capital Improvement Plan consists of offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features and professional fees along with related incidental costs. There are five product categories within the planned development. The single family 40’ home has been set as the base unit and has been assigned one equivalent residential unit (“ERU”). Table 4 shows the allocation of benefit to the particular land uses. It is important to note that the benefit derived from the improvements on the particular units exceeds the cost that the units will be paying for such benefits.

Lienability Test: Special and Peculiar Benefit to the Property

Construction and/or acquisition by the District of its proposed Capital Improvement Plan will provide several types of systems, facilities and services for its residents. These include offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features. These improvements accrue in differing amounts and are somewhat dependent
on the type of land use receiving the special benefits peculiar to those properties, which flow from the logical relationship of the improvements to the properties.

Once these determinations are made, they are reviewed in the light of the special benefits peculiar to the property, which flow to the properties as a result of their logical connection from the improvements in fact actually provided.

For the provision of the Capital Improvement Plan, the special and peculiar benefits are:

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

These special and peculiar benefits are real and ascertainable, but are not yet capable of being calculated as to value with mathematical certainty. However, each is more valuable than either the cost of, or the actual non-ad valorem special assessment levied for the improvement or the debt as allocated.

Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non- Ad Valorem Assessments

A reasonable estimate of the proportion of special and peculiar benefits received from the public improvements described in the Engineer’s Report is delineated in Table 5 (expressed as Allocation of Par Debt per Product Type). This is also shown on Table 7 depicting Allocation of Par Debt per Product Type.

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

Accordingly, no acre or parcel of property within the boundaries of the District will have a lien for the payment of any non-ad valorem special assessment more than the determined special benefit peculiar to that property and therefore, the debt allocation will not be increased more than the debt allocation set forth in this Assessment Report.

In accordance with the benefit allocation suggested for the product types in Table 4, a total debt per unit and an annual assessment per unit have been calculated for
each product type (Table 6). These amounts represent the preliminary anticipated per unit debt allocation assuming all anticipated units are built and sold as planned, and the entire proposed Capital Improvement Plan is constructed.

3.0	True Up Mechanism

Although the District does not process plats, declaration of condominiums, site plans or revisions thereto for the developer, it does have an important role to play during the course of platting and site planning. Whenever a plat, declaration of condominium or site plan is processed, the District must allocate a portion of its debt to the property according to this Assessment Report outlined herein. In addition, the District must also prevent any buildup of debt on Unassigned Properties. Otherwise, the land could be fully conveyed and/or platted without  all of the debt being allocated. To preclude this, when platting for 25%, 50%, 75% and 100% of the units planned for platting has occurred within the District, the District will determine the amount of anticipated assessment revenue that remains on the Unassigned Properties, taking into account the full development plan of the District. If the total anticipated assessment revenue to be generated from the Assigned and Unassigned Properties is greater than or equal to the maximum annual debt service then no debt reduction or true-up payment is required. In the case that the revenue generated is less then the required amount then a debt reduction or true-up payment by the landowner in the amount necessary to reduce the par amount of the outstanding bonds plus accrued interest to a level that will be supported by the new net annual debt service assessments will be required.

If a true-up payment is made less than 45 days prior to an interest payment date, the amount of accrued interest will be calculated to the next succeeding interest payment date.

Assessment Roll

The District will initially distribute the liens across the property within the District boundaries on a assessable acreage basis. As Assigned Properties becomes known with certainty, the District will refine its allocation of debt from a per acre basis to a per unit basis as shown in Table 6. If the land use plan changes, then the District will update Table 6 to reflect the changes as part of the foregoing true-up process. As a result, the assessment liens are neither fixed nor are they determinable with certainty on any acre of land in the District prior to the time final Assigned Properties become known. The current assessment roll is attached as Table 7.

Land Use*	ERUs per Unit (1)	Units	Total ERUs	
TH/20' Lot	0.5	832	416	
40' Lot	1.00	845	845	
50' Lot	1.25	136	170	
55' and 65' Lot	1.38	51	70	
80' Lot	2.00	4	8	
Total Units		1,868	1,509	

Benefit is allocated on an ERU basis; based on density of planned development, with 40' lot at 1 ERU

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

 Capital Improvement Plan ("CIP")  (1)	Total Cost Estimate 

Offsite Improvements	$	7,675,609	
Stormwater Management	$	14,416,699	
Utilities (Water, Sewer, & Street Lighting)	$	12,281,092	
Roadway	$	14,700,274	
Entry Feature	$	655,407	
Parks and Amenities	$	2,752,710	
Contingencies	$	4,369,504	
 	$	56,851,293 

(1) A detailed description of these improvements is provided in the Third Amended and Restated Engineer's Report dated October 2021.

Prepared by: Governmental Management Services - Central Florida, LLC

TABLE 3
NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT BOND SIZING
AMENDED AND RESTATED MASTER ASSESSMENT METHODOLOGY		

Bond Sizing		
Description	Total	
Construction Funds	$	56,851,293	
Debt Service Reserve	$	5,303,371	
Capitalized Interest	$	8,760,000	
Underwriters Discount	$	1,460,000	
Cost of Issuance	$	220,000	
Contingency	$	405,336	

 Par Amount*	$	73,000,000 

Bond Assumptions:
Average Coupon	6.00%
Amortization	30 years
Capitalized Interest	36 months
Debt Service Reserve	Max Annual
Underwriters Discount	2%

* Par amount is subject to change based on the actual terms at the sale of the bonds Prepared by: Governmental Management Services - Central Florida, LLC

Land Use	No. of Units *	ERU Factor	Total ERUs	% of Total
ERUs	Total Improvements
Costs Per Product Type	Improvement Costs
Per Unit		
TH/20' Lot	832	0.50	416.0	28%	$	15,671,424	$	18,836	
40' Lot	845	1.00	845.0	56%	$	31,832,580	$	37,672	
50' Lot	136	1.25	170.0	11%	$	6,404,188	$	47,090	
55' and 65' Lot	51	1.38	70.1	5%	$	2,641,727	$	51,799	
80' Lot	4	2.00	8.0	1%	$	301,374	$	75,343	
	1,868		1,509	100%	$	56,851,293		

* Unit mix is subject to change based on marketing and other factors

TH/20' Lot	832	$	15,671,424	$	20,122,919	$	24,186	
40' Lot	845	$	31,832,580	$	40,874,679	$	48,372	
50' Lot	136	$	6,404,188	$	8,223,308	$	60,466	
55' and 65' Lot	51	$	2,641,727	$	3,392,115	$	66,512	
80' Lot	 	4	$	301,374	$	386,979	$	96,745 
 	1,868	$	56,851,293	$	73,000,000	

Unit mix is subject to change based on marketing and other factors

Land Use	

No. of Units *	
Allocation of Par Debt Per Product Type	
Total Par Debt Per Unit	
Maximum Annual Debt Service	Net Annual Debt Assessment Per Unit	Gross Annual Debt Assessment Per Unit (1)	
TH/20' Lot	832	$	20,122,919	$	24,186	$	1,461,908	$	1,757	$	1,889	
40' Lot	845	$	40,874,679	$	48,372	$	2,969,501	$	3,514	$	3,779	
50' Lot	136	$	8,223,308	$	60,466	$	597,414	$	4,393	$	4,723	
55' and 65' Lot	51	$	3,392,115	$	66,512	$	246,433	$	4,832	$	5,196	
80' Lot	 	4	$	386,979	$	96,745    $	28,114    $	7,028    $	7,557 
 	1,868	$	73,000,000	$	5,303,371	

This amount includes estimated collection fees and early payment discounts when collected on the Polk County Tax Bill

Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Platted Lots							
				Total Par Debt	Net Annual Debt	Gross Annual	
				Allocation Per	Assessment	Debt Assessment	
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)	
JMBI REAL ESTATE LLC	272634710501000010	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000020	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000030	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000040	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000050	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000060	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000070	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000080	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000090	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000100	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000110	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000120	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000130	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000140	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000150	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000160	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000170	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000180	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000190	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000200	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000210	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000220	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000230	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000240	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000250	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000260	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000270	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000280	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000290	55/65	1	$	66,512	$	4,832	$	5,196	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501000300	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000310	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000320	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000330	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000340	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000350	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000360	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000370	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000380	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000390	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000400	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000410	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000420	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000430	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000440	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000450	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000460	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000470	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000480	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000490	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000500	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000510	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000520	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000530	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000540	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000550	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000560	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000570	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000580	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000590	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000600	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000610	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000620	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000630	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000640	40	1	$	48,372	$	3,514	$	3,779	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501000650	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000660	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000670	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000680	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000690	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000700	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000710	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000720	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000730	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000740	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000750	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000760	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000770	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000780	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000790	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000800	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000810	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000820	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000830	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000840	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000850	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000860	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000870	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000880	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000890	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000900	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000910	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000920	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000930	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000940	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000950	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000960	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000970	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000980	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000990	55/65	1	$	66,512	$	4,832	$	5,196	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501001000	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001010	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001020	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001030	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001040	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001050	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001060	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001070	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001080	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001090	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001100	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001110	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001120	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001130	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001140	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001150	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001160	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001170	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001180	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001190	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001200	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001210	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001220	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001230	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001240	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001250	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001260	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001270	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001280	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001290	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001300	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001310	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001320	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001330	40	1	$	48,372	$	3,514	$	3,779	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501001350	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001360	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001370	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001380	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001390	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001400	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001410	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001420	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001430	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001440	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001450	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001460	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001470	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001480	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001490	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001500	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001510	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001520	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001530	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001540	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001550	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001560	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001570	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001580	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001590	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001600	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001610	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001620	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001630	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001640	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001650	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001660	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001670	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001680	40	1	$	48,372	$	3,514	$	3,779	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501001700	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001710	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001720	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001730	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001740	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001750	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001760	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001770	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001780	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001790	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001800	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001810	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001820	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001830	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001840	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001850	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001860	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001870	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001880	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001890	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001900	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001910	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001920	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001930	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001940	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001950	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001960	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001970	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001980	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001990	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002000	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002010	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002020	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002030	40	1	$	48,372	$	3,514	$	3,779	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501002050	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002060	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002070	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002080	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002090	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002100	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002110	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002120	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002130	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002140	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002150	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002160	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002170	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002180	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002190	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002200	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002210	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002220	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002230	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002240	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002250	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002260	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002270	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002280	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002290	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002300	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002310	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002320	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002330	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002340	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002350	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002360	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002370	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002380	40	1	$	48,372	$	3,514	$	3,779	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501002400	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002410	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002420	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002430	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002440	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002450	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002460	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002470	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002480	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002490	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002500	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002510	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002520	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002530	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002540	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002550	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002560	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002570	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002580	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002590	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002600	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002610	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002620	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002630	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002640	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002650	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002660	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002670	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002680	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002690	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002700	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002710	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002720	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002730	40	1	$	48,372	$	3,514	$	3,779	

Owner			

Property ID #'s	

Lot Size	

Unit Count	Total Par Debt Allocation Per Lot	N	et Annual Debt Assessment Allocation	Gross Annual Debt Assessment Allocation (1)		
JMBI REAL	ESTATE	LLC	272634710501002750	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002760	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002770	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002780	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002790	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002800	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002810	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002820	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002830	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002840	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002850	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002860	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002870	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002880	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002890	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002900	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002910	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002920	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002930	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002940	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002950	40	 	1		$	48,372		$		3,514 	$		3,779 	
Platted Totals	 	295	$	15,194,981	$	1,103,899    $	1,186,988 											
			Par Per Undeveloped	
Total Par	Net Annual Assessment	Gross Annual Assessment					

CH Dev LLC	
272634710501002980	
6.47	Acre
$ 142,044.53	Allocated
$	919,028	$	Allocation
66,766 $	Allocation
71,792					
CH Dev LLC	272703000000011010	21.63	$ 142,044.53	$	3,072,423	$	223,208 $	240,009					
CH Dev LLC	272703713500010203	10.03	$ 142,044.53	$	1,424,707	$	103,503 $	111,294					
CH Dev LLC	272703713500010294	0.81	$ 142,044.53	$	115,056	$	8,359 $	8,988					
CH Dev LLC	272703713500010282	2.47	$ 142,044.53	$	350,850	$	25,489 $	27,407					
CH Dev LLC	272703713500010220	9.78	$ 142,044.53	$	1,389,195	$	100,924 $	108,520					
CH Dev LLC	272703713500010231	18.26	$ 142,044.53	$	2,593,733	$	188,432 $	202,615					
CH Dev LLC	272702713000030172	20.13	$ 142,044.53	$	2,859,356	$	207,729 $	223,365					

	Par Per
Undeveloped Acre	
Total Par Allocated	Net Annual
Assessment Allocation	Gross Annual
Assessment Allocation			
Lowey Watters Investors LLC	272702713000040170	9.44	$ 142,044.53	$	1,340,900	$	97,415	$	104,747	
Northeast Polk Land Investments LLC	272702713000040310	9.45	$ 142,044.53	$	1,342,321	$	97,518	$	104,858	
Northeast Polk Land Investments LLC	272703713500020070	9.66	$ 142,044.53	$	1,372,150	$	99,685	$	107,188	
GLK Real Estate LLC	272710730000010901	5.48	$ 142,044.53	$	778,404	$	56,550	$	60,807	
GLK Real Estate LLC	272710730000011202	7.41	$ 142,044.53	$	1,052,550	$	76,467	$	82,222	
Northeast Polk Land Investments LLC	272710730000012000	13.23	$ 142,044.53	$	1,879,249	$	136,525	$	146,802	
Cassidy Property Investments LLC	272710730000012200	9.67	$ 142,044.53	$	1,373,571	$	99,788	$	107,299	
Cassidy Property Investments LLC	272710730000020500	9.59	$ 142,044.53	$	1,362,207	$	98,963	$	106,412	
Cassidy Property Investments LLC	272710733500006011	0.32	$ 142,044.53	$	45,454	$	3,302	$	3,551	
Flanagan Kenneth Walter Jr	272702713000040190	9.66	$ 142,044.53	$	1,372,150	$	99,685	$	107,188	
Smith Gerald S	272702713000040210	9.63	$ 142,044.53	$	1,367,889	$	99,376	$	106,856	
Smith Gerald S	272702713000040230	9.45	$ 142,044.53	$	1,342,321	$	97,518	$	104,858	
Smith Gerald S	272702713000040251	4.71	$ 142,044.53	$	669,030	$	48,604	$	52,263	
Smith Gerald S	272702713000040260	3.00	$ 142,044.53	$	426,134	$	30,958	$	33,288	
CH Dev LLC	272710730000021201	3.94	$ 142,044.53	$	559,655	$	40,658	$	43,719	
Cassidy Property Investments LLC	272710730000022200	4.95	$ 142,044.53	$	703,120	$	51,081	$	54,926	
JMBI Real Estate	272710730000022700	9.90	$ 142,044.53	$	1,406,241	$	102,162	$	109,851	
Nielsen Jan Douglas	272715739500010050	9.81	$ 142,044.53	$	1,393,457	$	101,233	$	108,853	
Nielsen Jan Douglas	272715739500010011	19.13	$ 142,044.53	$	2,717,312	$	197,410	$	212,269	
Cassidy Property Investments LLC	272715740000000010	24.58	$ 142,044.53	$	3,491,454	$	253,650	$	272,742	
Barnhill Teressa Ann	272702713000030191	30.95	$ 142,044.53	$	4,396,278	$	319,385	$	343,425	
Williams Terry	272702713000030211	31.54	$ 142,044.53	$	4,480,084	$	325,473	$	349,971	
GLK Real Estate LLC	272710730000010904	0.54	$ 142,044.53	$	76,704	$	5,572	$	5,992	
JMBI REAL ESTATE LLC	272634710501002960	 	71.33		$   142,044.53		$	10,132,036		$	736,081 	$	791,485 	
Unplatted Totals	 	406.95	$	57,805,019	$	4,199,472	$	4,515,561 

Totals
$	73,000,000	$
5,303,371	$
5,702,549

Annual Assessment Periods
Projected Bond Rate (%)	30
6.00%	
Maximum Annual Debt Service	$5,303,371	

Prepared by: Governmental Management Services - Central Florida, LLC		

 LEGAL DESCRIPTION:

 PARCEL  1 (272634-000000-022030)

 PARCEL  2 (272634-000000-022020)

 PARCEL  3 (272635-000000-044010)

 	     	
 PARCEL 4 (272703-713500-010031)

 PARCEL 5 (272703-000000-011000)	
 	 	 	 	 
 PARCEL 6 (272703-713500-010200)	                  

 PARCEL 7 (272703-713500-010294)						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
1 OF 7	

 LEGAL DESCRIPTION:

 PARCEL  8 (272703-713500-010282)

 PARCEL  9 (272703-713500-010220)

  

 PARCEL 10 (272703-713500-010231)

 PARCEL 11 (272702-713000-030172)	           

 PARCEL 12 (272634-000000-024120)	

	 ”

 PARCEL 13: (272702-713000-040170)						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
2 OF 7	

 LEGAL DESCRIPTION:

 PARCEL  14: (272702-713000-040310)

 PARCEL  15: (272703-713500-020070)

  
 PARCEL	
 	 	
·
 	 	 	 	
(1)		 

(2)	

(3)	
 	
(4)	                              
   	 	
(5)							
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
3 OF 7	

 LEGAL DESCRIPTION:

·

 PARCEL 17: (272710-730000-012000)

AND	

 PARCEL 18: (272710-730000-012200)							
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
4 OF 7	
 LEGAL DESCRIPTION:

 PARCEL 19: (272710-730000-020500, 272710-733500-006011)

 AND

 PARCEL 20: (272703-713500-010232)

¾

 PARCEL NUMBER 21: (272702-713000-040190)

 PARCEL NUMBER 22: (272702-713000-040210

 PARCEL NUMBER 23: (272702-713000-040230)

 PARCEL NUMBER24: (272702-713000-040251)

 PARCEL NUMBER 25: (272702-713000-040260)

 PARCEL NUMBER 26: 272710-730000-021201)

 PARCEL NUMBER 27:  (272710-730000-022200)

 PARCEL NUMBER 28:  (272710-730000-022700)

 LEGAL DESCRIPTION:
 PARCEL NUMBER 29: (272715-739500-010011 AND 272715-739500-010050)

 PARCEL NUMBER 30: (272715-740000-000010)

 PARCEL NUMBER 31: 272702-713000-030191

 LESS A PORTION OF PARCEL 31: 27-27-02-713000-030191						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
6 OF 7	

 LEGAL DESCRIPTION:

 PARCEL NUMBER 32: 272702-713000-030211

 PARCEL NUMBER 33: 272710-730000-010904

 LESS A PORTION OF EXISTING PARCEL 4: 272703-713500-010031

 	

 LESS EXISTING PARCEL 20: (272703-713500-010232)	      
¾	  						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
7 OF 7	

SECTION 3
RESOLUTION 2022-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT AMENDING AND SUPPLEMENTING RESOLUTION 2018-32, AS FURTHER AMENDED; AUTHORIZING DISTRICT PROJECTS FOR CONSTRUCTION AND/OR ACQUISITION OF INFRASTRUCTURE IMPROVEMENTS; EQUALIZING, APPROVING, CONFIRMING, AND LEVYING SPECIAL ASSESSMENTS ON THE 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, 190, AND 197, FLORIDA STATUTES; MAKING PROVISIONS FOR TRANSFERS OF REAL PROPERTY TO GOVERNMENTAL BODIES; PROVIDING FOR THE RECORDING OF AN AMENDED ASSESSMENT NOTICE; PROVIDING FOR SEVERABILITY, CONFLICTS AND AN EFFECTIVE DATE.

RECITALS

WHEREAS, the North Powerline Road Community Development District (the “District”) previously indicated its intention to construct certain types of public infrastructure improvements and to finance such infrastructure improvements through the issuance of bonds, which bonds would be repaid by the imposition of special assessments on benefited property within the District including the Boundary Amendment Parcels, hereinafter defined; and

WHEREAS, the District Board of Supervisors (“Board”) noticed and conducted a public hearing pursuant to Chapters 170, 190, and 197, Florida Statutes, relating to the imposition, levy, collection, and enforcement of such assessments and now desires to adopt a resolution imposing and levying such assessments.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT 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:

The District is a local unit of special-purpose government organized and existing under the pursuant to Chapter 190, Florida Statutes, as amended.
The District is authorized by Chapter 190, Florida Statutes, to finance, fund, plan, establish, acquire, install, equip, operate, extend, construct, or reconstruct stormwater management facilities; roadways; water and wastewater facilities; off-site improvements (turn lanes); electrical utilities (street lighting); entry features and signage; parks and amenities, and other infrastructure projects and services necessitated by the development of, and serving lands within, the District (collectively, the “Improvements”), and evidenced its intent to defray the cost of such Improvements pursuant to Resolution Nos. 2018-23, 2018-24, 2018-32, 2020-04, 2020-05, 2020-08, 2020-11, 2020-12, 2020-15, 2021-07, 2021-08, 2021-19, 2022-01, and 2022-02 (together, the “Assessment Resolutions”).
On January 4, 2022, the Board of County Commissioners of Polk County, Florida adopted Ordinance No. 22-001, effective January 4, 2022 (the “Expansion Ordinance”), amending and supplementing Ordinance No. 18-036, effective June 5, 2018, as further amended (“Establishing Ordinance” and together with the Expansion Ordinance, the “Ordinance”), amending the external boundaries of the District to include an additional 153.5 acres of land, more or less, and contracting approximately 4.303 acres of land, more or less (together, the “Boundary Amendment Parcels”).
The Board determined it is in the District’s best interest to revise the estimated costs of the Improvements and modify the development plan to incorporate additional improvements to serve lands currently within the District including the Boundary Amendment Parcels.
As a result of the annexation of the Boundary Amendment Parcels, on January 19, 2022, the Board adopted Resolution 2022-01, approving Third Amended and Restated Engineer’s Report for Capital Improvements, dated February 2022 (the “Engineer’s Report”), which Engineer’s Report details the revised scope and cost of Improvements necessary to serve the lands located within the District, including the Boundary Amendment Parcels.
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.
It is necessary to the public health, safety and welfare and in the best interests of the District that (i) the District provide the Improvements relative to the Boundary Amendment Parcels, the nature and location of which was initially described in Resolution 2022-01, and is described in the Engineer’s Report, attached as Exhibit A hereto; (ii) The plans and specifications for the Improvements are on file at the office of the District Manager c/o Governmental Management Services-Central Florida, LLC, 219 E. Livingston Street, Orlando, Florida 32801 (“District Records Offices”); (iii) the cost of such Improvements be assessed against the lands within the Boundary Amendment Parcels specially benefited by such Improvements; and (iv) the District issue bonds to provide funds for such purposes pending the receipt of such special assessments.
The provision of said Improvements, the levying of such Assessments (hereinafter defined) on the Boundary Amendment Parcels, and the sale and issuance of such bonds serves a proper, essential and valid public purpose and is in the best interests of the District, its landowners and residents.
In order to provide funds with which to pay all or a portion of the costs of the Improvements which are to be assessed against the benefitted properties including the Boundary Amendment Parcels, pending the collection of such Assessments, it is necessary for the District from time to time to sell and issue its bonds, in one or more series.
By Resolution 2022-01, the Board determined to provide the Improvements and to defray the costs thereof by imposing Assessments on the Boundary Amendment Parcels and expressed an intention to issue bonds to provide a portion of the funds needed for the Improvements prior to the collection of such Assessments. Resolution 2022-01 was adopted in compliance with the requirements of Section 170.03, Florida Statutes, and prior to the time it was adopted, the requirements of Section 170.04, Florida Statutes, had been met.
As directed by Resolution 2022-01, said Resolution 2022-01 was published as required by Section 170.05, Florida Statutes, and a copy of the publisher’s affidavit of publication is on file with the Secretary of the Board.
As directed by Resolution 2022-01, a preliminary assessment roll was adopted and filed with the Board as required by Section 170.06, Florida Statutes.
As required by Section 170.07, Florida Statutes, upon completion of the preliminary assessment roll, the Board adopted Resolution 2022-02, 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 Improvements, (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 including the Boundary Amendment Parcels, and provided for publication of notice of such public hearing and individual mailed notice in accordance with Chapters 170, 190, and 197, Florida Statutes.
Notice of such public hearing was given by publication and also by mail as required by Section 170.07, Florida Statutes. Affidavits as to such publications and mailings are on file in the office of the Secretary of the Board.
On February 23, 2022, at the time and place specified in Resolution 2022-02, and the notice referred to in paragraph (n) above, the Board met as an Equalization Board, conducted such public hearing, and heard and considered all complaints and testimony as to the matters described in paragraph (m) above. The Board has made such modifications in the preliminary assessment roll as it deems necessary, just and right in the making of the final assessment roll.
Having considered the estimated costs of the Improvements, the estimated
financing costs and all comments and evidence presented at such public hearing, the Board further finds and determines that:
the estimated costs of the Improvements are as specified in the Engineer’s Report, which is hereby adopted, approved and confirmed, and that the amount of such costs is reasonable and proper; and
it is reasonable, proper, just and right to assess the cost of such Improvements against the properties specially benefited thereby within the Boundary Amendment Parcels using the method determined by the Board set forth in the Amended and Restated Master Assessment Methodology, dated January 19, 2022 (the “Master Methodology”); and
the Assessment Report is hereby approved, adopted and confirmed; and
it is hereby declared that the Improvements 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 Assessments thereon when allocated as set forth in Exhibit B; and
that the costs of the Improvements are fairly and reasonably apportioned to the properties specifically benefitted as set forth in Exhibit B; and
it is in the best interests of the District that the Assessments be paid and collected as herein provided; and
it is reasonable, proper, just and right for the District to utilize the true-up mechanisms and calculations contained in the Assessment Report in order to ensure that all parcels of real property benefiting from the Improvements are assessed accordingly and that sufficient assessment receipts are being generated in order to pay the corresponding bond debt-service when due.
SECTION 3. AUTHORIZATION OF DISTRICT PROJECT. That construction of Improvements initially described in Resolution 2022-01, and more specifically identified and described in Exhibit A attached hereto, is hereby authorized, and approved and the proper officers, employees and/or agents of the District are hereby authorized and directed to take such further action as may be necessary or desirable to cause the same to be made.

SECTION 4. ESTIMATED COST OF IMPROVEMENTS. The total estimated costs of the Improvements and the costs to be paid by Assessments on all specially benefited property within the Boundary Amendment Parcels are set forth in Exhibit A and Exhibit B, respectively, hereto.

SECTION 5.	EQUALIZATION, APPROVAL, CONFIRMATION AND LEVY OF SPECIAL
ASSESSMENTS. The Assessments on the parcels within the Boundary Amendment Parcels specially
benefited by the Improvements, all as specified in the final assessment roll set forth in Exhibit B, attached hereto, are hereby equalized, approved, confirmed and levied. Immediately following the adoption of this Resolution, these Assessments, as reflected in Exhibit B attached hereto, shall be recorded by the Secretary of the Board of the District in a special book, to be known as the “Improvement Lien Book.” The Assessment or assessments against each respective parcel shown on such final assessment roll and interest, costs and penalties thereon, as hereafter provided, shall be and shall remain a legal, valid and binding first lien on such parcel until paid and such lien shall be coequal with the lien of all state, county, district, municipal or other governmental taxes and superior in dignity to all other liens, titles and claims. Prior to the issuance of any bonds, including refunding bonds, the District may, by subsequent resolution, adjust the acreage assigned to particular parcel identification numbers listed on the final assessment roll to reflect accurate apportionment of acreage within the District amongst individual parcel identification numbers. The District may make any other such acreage and boundary adjustments to parcels listed on the final assessment roll as may be necessary in the best interests of the District as determined by the Board by subsequent resolution. Any such adjustment in the assessment roll shall be consistent with the requirements of law. In the event the issuance of bonds, including refunding bonds, by the District would result in a decrease of the Assessments, then the District shall by subsequent resolution, adopted within sixty (60) days of the sale of such bonds at a publicly noticed meeting and without the need for further public hearing, evidence such a decrease and amend the final assessment roll as shown in the Improvement Lien Book to reflect such a decrease.

SECTION 6. FINALIZATION OF SPECIAL ASSESSMENTS. When the Improvements have both been constructed or otherwise provided to the satisfaction of the Board, the Board shall adopt a resolution accepting the same and determining the actual costs (including financing costs) thereof, as required by Sections 170.08 and 170.09, Florida Statutes. Pursuant to the provisions of Section 170.08, Florida Statutes, regarding completion of a project funded by a particular series of bonds, the District shall credit to each Assessment the difference, if any, between the Assessment as hereby made, approved and confirmed and the proportionate part of the actual costs of the Improvements, as finally determined upon completion thereof, but in no event shall the final amount of any such special assessment exceed the amount of benefits originally assessed hereunder. In making such credits, no credit shall be given for bond financing costs, capitalized interest, funded reserves, or bond discounts. Such credits, if any, shall be entered in the Improvement Lien Book.

SECTION 7. PAYMENT OF SPECIAL ASSESSMENTS AND METHOD OF COLLECTION.

The Assessments may be paid in not more than thirty (30) substantially equal consecutive annual installments of principal and interest. The Assessments may be paid in full without interest at any time within thirty (30) days after the completion of the Improvements and the adoption by the Board of a resolution accepting the Improvements complete, unless such option has been waived by the owner of the land subject to the Assessments; 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. At any time, subsequent to thirty (30) days after the Improvements have been completed and a resolution accepting the Improvements has been adopted by the Board, the 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 Assessments may prepay the entire remaining balance of the Assessments at any time, or a portion of the remaining balance of the Assessment one time if there is also paid, in addition to the prepaid principal balance of the 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 Assessments does not entitle the property owner to any discounts for early payment.
The District may elect to use the method of collecting 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 to take as timely required, any necessary actions to comply with the provisions of said Sections 197.3632 and 197.3635, Florida Statutes. Such Assessments 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 Assessments may be collected as is otherwise permitted by law. The District may, in its sole discretion, collect Assessments by directly assessing landowner(s) and enforcing said collection in any manner authorized by law.
For the period the District uses the Uniform Method, the District shall enter into an agreement with the Tax Collector of Polk 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 8. APPLICATION OF TRUE-UP PAYMENTS.

Pursuant to the Assessment Report, attached hereto as Exhibit B, and any reports supplemental thereto, there may be required from time to time certain true-up payments. As parcels of land or lots are platted, the Assessments securing the bonds shall be allocated as set forth in such reports. In furtherance thereof, at such time as parcels or land or lots are platted, it shall be an express condition of the lien established by this Resolution that any and all initial plats of any portion of the lands within the District, as the District’s boundaries may be amended from time to time, shall be presented to the District Manager for review, approval and calculation of the percentage of acres and numbers of units which will be, after the plat, considered to be developed. No further action by the Board of Supervisors shall be required. The District’s review shall be limited solely to this function and the enforcement of the lien established by this Resolution. The District Manager shall cause the Assessments to be reallocated to the units being platted and the
remaining property in accordance with such Assessment Report and supplemental assessment methodology report(s), as applicable, cause such reallocation to be recorded in the District’s Improvement Lien Book, and shall perform the true-up calculations described in Exhibit B, which process is incorporated herein as if fully set forth (the “True-Up Methodology”). Any resulting true- up payment shall become due and payable that tax year by the landowner(s) of record of the remaining unplatted property, in addition to the regular assessment installment payable with respect to such remaining unplatted acres.
The District will take all necessary steps to ensure that true-up payments are made in a timely fashion to ensure its debt service obligations are met. The District shall record all true- up payments in its Improvement Lien Book.
The foregoing is based on the District’s understanding with the landowner and primary developer of the lands within the Boundary Amendment Parcels, that it intends to develop the unit numbers and types shown in Exhibit B, on the net developable acres within the Boundary Amendment Parcels and is intended to provide a formula to ensure that the appropriate ratio of the Assessments to gross acres is maintained if fewer units are developed. However, no action by the District prohibits more than the maximum units shown in Exhibit B from being developed relative to the Boundary Amendment Parcels. In no event shall the District collect Assessments pursuant to this Resolution in excess of the total debt service related to the Improvements, including all costs of financing and interest. The District recognizes that such events as regulatory requirements and market conditions may affect the timing and scope of the development in the District. If the strict application of the True-Up Methodology to any assessment reallocation pursuant to this paragraph would result in Assessments collected in excess of the District’s total debt service obligation for the Improvements, the Board shall by resolution take appropriate action to equitably reallocate the Assessments. Further, upon the District’s review of the final plat for the developable acres within the Boundary Amendment Parcels, any unallocated Assessments shall become due and payable and must be paid prior to the District’s approval of that plat.
The application of the monies received from true-up payments or Assessments to the actual debt service obligations of the District, whether long term or short term, shall be set forth in the supplemental assessment resolution adopted for each series of bonds actually issued. Such subsequent resolution shall be adopted at a noticed meeting of the District, and shall set forth the actual amounts financed, costs of issuance, expected costs of collection, and the total amount of the assessments pledged to that issue, which amount shall be consistent with the lien imposed by this Resolution.
SECTION 9. GOVERNMENT PROPERTY; TRANSFERS OF PROPERTY TO UNITS OF LOCAL,
STATE AND FEDERAL GOVERNMENT. Property owned by units of local, state and federal government shall not be subject to the Assessments without specific consent thereto. If at any time, any real property on which Assessments are imposed by this Resolution is sold or otherwise transferred to a unit of local, state or federal government (without consent of such governmental unit to the imposition of Assessments thereon), all future unpaid Assessments for such tax parcel shall become due and payable immediately prior to such transfer without any further action of the
District.

SECTION 10. ASSESSMENT NOTICE. The District’s Secretary is hereby directed to record an Amended Notice of Assessments in the Official Records of Polk County, Florida, which shall be updated from time to time in a manner consistent with changes in the boundaries of the District.

SECTION 11. 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 12. CONFLICTS. This Resolution is intended to amend and supplement the Assessment Resolutions relating to the District’s levy of special assessments on the lands within the boundaries of the District benefitting from the public infrastructure improvements set forth in the Engineer’s Report. As such, all such prior resolutions, including but not limited to the Assessment Resolutions, remain in full force and effect, except to the extent provided for herein.
SECTION 13. EFFECTIVE DATE. This Resolution shall become effective upon its adoption. [Remainder of this page intentionally left blank]
APPROVED AND ADOPTED this 23rd day of February 2022.
ATTEST:	NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Exhibit A:	Third Amended and Restated Engineer’s Report for Capital Improvements, dated February 2022
Exhibit B:	Amended and Restated Master Assessment Methodology, dated January 19, 2022

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

ENGINEER’S REPORT
FOR CAPITAL IMPROVEMENTS
THIRD AMENDED AND RESTATED

Prepared for:

BOARD OF SUPERVISORS NORTH POWERLINE ROAD
COMMUNITY DEVELOPMENT DISTRICT

Prepared by:

ABSOLUTE ENGINEERING, INC. 1000 N. ASHLEY DRIVE, SUITE 925
TAMPA, FLORIDA 33602

FEBRUARY 2022

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

TABLE OF CONTENTS
INTRODUCTION	1
PURPOSE AND SCOPE	2
THE DEVELOPMENT	3
THE CAPITAL IMPROVEMENTS	3
CAPITAL IMPROVEMENT PLAN COMPONENTS	4
Stormwater Management Facilities	4
Public Roadways	5
Water and Wastewater Facilities	6
Off-site Improvements	6
Amenities and Parks…	6
Electric and Lighting…	6
Entry Features…	7
Miscellaneous	7
PERMITTING	7
RECOMMENDATION.	10
REPORT MODIFICATION	10
CONCLUSION	10
LIST OF EXHIBITS

EXHIBIT 1- Location Map
EXHIBIT 2- Legal Description Existing District EXHIBIT 3- Legal Description Expansion Parcels EXHIBIT 4- Legal Description After Boundary Expansion EXHIBIT 5- Summary of Proposed District Facilities EXHIBIT 6- Summary of Opinion of Probable Costs
EXHIBIT 7- Composite Exhibit Existing and Future Land Use EXHIBIT 8- Water and Sewer Locations
EXHIBIT 9- Overall Site Plan
ENGINEER’S REPORT NORTH POWERLINE ROAD
COMMUNITY DEVELOPMENT DISTRICT

INTRODUCTION

The North Powerline Road Community Development District (the “District”) is north of North Blvd East and east of Hwy 17-92 N partially within unincorporated Polk County, (the “County”) Florida and partially within Davenport (the “City”). The District currently contains approximately 271.64 gross acres, and is expected to be constructed in Six (6) phase and consist of 1825 single family lots, recreation / amenity areas, parks, and associated infrastructure. The District previously amended its boundaries (“Boundary Amendment No. 3”) to include an additional 154.43 acres (“Expansion Parcels”) to the lands within the District. This report includes information regarding the Expansion Parcels in various exhibits.

The District was established under County Ordinance No. 18-036, as approved by the County Commission on June 5, 2018, further amended by County Ordinance 20-028 and county Ordinance 20-046 and County Ordinance 22-001. The District will own and operate the public roadways and stormwater management facilities, as well as the landscape, irrigation, signage, and recreational facilities within the development.

Public improvements and facilities financed, acquired, and/or constructed by the District will be designed and constructed to conform to regulatory criteria from the City, the County, Southwest Florida Water Management District (SWFWMD), and other applicable agencies with regulatory jurisdiction over the development. An overall estimate of probable cost of the public improvements is provided in Exhibit 6 of this report.

This “Capital Improvement Plan” or “Report” reflects the present intentions of the District and the landowners. It should be noted that the location of proposed facilities and improvements may be adjusted during the final design, permitting, and implementation phases. It should also be noted that these modifications are not expected to diminish the
benefits received by the property within the District. The District reserves the right to make reasonable adjustments to the development plan to meet applicable regulatory requirements of agencies with jurisdiction over the development, while maintaining comparable level of benefits to the lands served by the improvements. Changes and modifications are expected as changes in regulatory criteria are implemented.

Implementation of any proposed facilities or improvements outlined in this Report requires written approval from the District’s Board of Supervisors. Estimated costs outlined in this report are based on best available information, which includes but is not limited to previous experience with similar projects. Actual costs could be different than estimates because final engineering and specific field conditions may affect construction costs.

All roadway improvements including common area sidewalks in the right-of-way and storm drainage collection systems (from the curb inlets to their connection to the stormwater ponds) within the development will be maintained by the District. Water distribution and wastewater collection systems (gravity lines, force mains, and lift stations) will, upon completion, be dedicated to the City for ownership and maintenance.

PURPOSE AND SCOPE

The purpose of this Report is to provide engineering support to fund improvements in the current District and to reflect changes in the Capital Improvement Plan. Phase 1 and Phase 2 remain unchanged. This Report will identify the proposed public infrastructure to be constructed or acquired by the District along with an opinion of probable cost.

Contained within this Report is a brief description of the public infrastructure to be constructed or acquired by the District. The District will finance, construct, acquire, operate, and maintain all or specific portions of the proposed public infrastructure. An assessment methodology consultant has been retained by the District, who will develop the assessment and financing methodology to be applied using this Report. The predominant portion of this Report provides descriptions of the proposed public infrastructure improvements, determination of estimated probable construction costs, and the corresponding benefits associated with the implementation of the described improvements.
Detailed site construction plans and specifications have not yet been completed and permitted for the improvements described herein. The engineer has considered, and in specific instances has relied upon, the information and documentation prepared or supplied by others, and information that may have been provided by public entities, public employees, the landowner, site construction contractors, other engineering professionals, land surveyors, the District Board of Supervisors, and its staff and consultants.

THE DEVELOPMENT

The Development will consist of 1825 single family homes and associated infrastructure (“Development”). The Development is a planned residential community located north of South Blvd East and east of Hwy 17-92 N partially within the County and partially within the City. The Development has received zoning approval by the City and County. The property has an underlying Future Land Use Designation of RM (Residential Medium) in the City and County. It is currently anticipated that the development will be constructed in six (6) phases. Following is a summary of proposed lot sizes per phase:
	SF Lot Width	SF Lot Width	SF Lot Width	SF Lot Width	SF Lot Width	SF Lot Width	SF TOTAL	
Phase	20'	40'	50'	55'	65'	80'		
1		244		48	3		295	
2		228	44				272	
3			158			4	162	
4	300	8					308	
5	532						532	
6		164	92				256	
Total	832	644	294	48	3	4	1825	

THE CAPITAL IMPROVEMENTS

The current Capital Improvement Plan, (the “CIP”), consists of public infrastructure in phases 1-6 including stormwater pond construction, roadways, water and sewer facilities and public off-site improvements (including public turn lanes and extension of roadway, water mains and sewer mains to serve the development).
There will also be stormwater structures and conveyance culverts within the CIP which will outfall into the on-site retention ponds. These structures and pond areas comprise the overall stormwater facilities of the CIP. Installation of the water distribution and wastewater collection system will also occur at this time. Below ground installation of power, telecommunications and cable TV will occur, but will not be funded by the District. Installation of street lights within the public right of way will not be funded by the District.

As a part of the recreational component of the CIP, a public park/amenity center will be constructed adjacent to Horse Creek in Phase 1 of the existing District. The public park/amenity center will have connectivity via sidewalks to the other portions of the District. The public park/amenity center will be accessed by the public roadways and sidewalks.

CAPITAL IMPROVEMENT PLAN COMPONENTS

The system of improvements comprising the Capital Improvement Plan for the District includes the following:

Stormwater Management Facilities
Stormwater management facilities consist of storm conveyance systems and retention ponds contained within the District boundaries. Stormwater runs off via roadway curb and gutter to storm inlets. Storm culverts convey the runoff into the proposed retention ponds for water quality treatment and attenuation. The proposed stormwater systems will utilize wet retention for biological pollutant assimilation to achieve water quality treatment. The design criteria for the District’s stormwater management systems is regulated by the City, the County, and the SWFWMD. There are no known surface waters, but there are natural wetlands on or immediately adjacent to the Development.

Federal Emergency Management Agency Flood Insurance Rate Map (FEMA FIRM) Panel No. 12105C-0240G (dated 12/22/2016) demonstrates that the majority of the property is located within Flood Zone X and the remainder in Flood Zone A. Based on this information and the site topography, floodplain compensation will be required.

During the construction of stormwater management facilities, utilities and roadway improvements, the contractor will be required to adhere to a Stormwater Pollution Prevention Plan (SWPPP) as required by Florida Department of Environmental Protection (FDEP) as delegated by the Environmental Protection Agency (EPA). The SWPPP will be prepared to depict for the contractor the proposed locations of required erosion control measures and staked turbidity barriers specifically along the down gradient side of any proposed construction activity. The site contractor will be required to provide the necessary reporting on various forms associated with erosion control, its maintenance and any rainfall events that occur during construction activity.

Public Roadways
The proposed internal public roadway sections are to be 40’ and 50' R/W with 24’ of asphalt and Miami curb and gutter on both sides. The proposed roadway section will consist of stabilized subgrade, lime rock, crushed concrete or cement treated base and asphalt wearing surface. The proposed curb is to be 2' wide and placed along the edge of the proposed roadway section for purposes of protecting the integrity of the pavement and also to provide stormwater runoff conveyance to the proposed stormwater inlets. Underdrain is provided as necessary to control groundwater and protect the roadway base material. The extension of Powerline Road from 17-92 to South Boulevard is a four lane divided collector road, comprised of 110' R/W consisting of 4 travel lanes, bike lanes and sidewalks on both sides. This section includes 58’ of asphalt and Type F curb and gutter on both sides. The proposed roadway section will consist of stabilized subgrade, lime rock, crushed concrete or cement treated base and asphalt wearing surface. The proposed curb is to be 2' wide and placed along the edge of the proposed roadway section for purposes of protecting the integrity of the pavement and also to provide stormwater runoff conveyance to the proposed stormwater inlets. Underdrain is provided as necessary to control groundwater and protect the roadway base material. There is a bridge over Horse Creek connecting Phases 1 and 2.

The proposed roadways will also require signing and pavement markings within the public rights-of-way, as well as street signs depicting street name identifications, and addressing, which will be utilized by the residents and public. As stated above, the District's funding of roadway construction will occur for all public roadways.
Water and Wastewater Facilities
A potable water system inclusive of water main, gate valves, fire hydrants and appurtenances will be installed for the Development. The water service provider will be the City of Davenport Public Utilities. The water system will be a "looped" system. These facilities will be installed within the proposed public rights-of-way within the District. This water will provide the potable (domestic) and fire protection services which will serve the entire District.

A domestic wastewater collection system inclusive of gravity sanitary sewer mains and sewer laterals will be installed. The gravity sanitary sewer mains will be 8" diameter PVC. The gravity sanitary sewer lines will be placed inside of the proposed public rights-of-way, under the proposed paved roadways. Branching off from these sewer lines will be laterals to serve the individual lots. No funds provided by the District will be used to provide lines on privately held lands. A lift station is anticipated for this CIP. Flow from the lift station shall be connected to a proposed sewer manhole southwest of the site.

Reclaimed water is not available for this site. An irrigation well to be funded by the District will be installed onsite to provide irrigation within the public right of way or irrigation water service shall be provided as part of the domestic water system design. Any water, sewer, or reclaim water pipes or facilities placed on private property will not be publicly funded.

Off-Site Improvements
The District will provide funding for the anticipated roadway connections to the Development and offsite utility extensions required for the Development. The site construction activities associated with the CIP are anticipated for completion in 2023. Upon completion of these improvements, inspection/certifications will be obtained from the SWFWMD; the Polk County Health Department (water distribution system), Florida Department of Environmental Protection (FDEP) (wastewater collection) and the City/County.
Amenities and Parks

The District will provide funding for the recreational facilities including parks and an Amenity Center to include the following: parking area, pavilion with restroom facilities, pool, tot lot, dog park/all-purpose play field, and walking trails between the phases to provide connectivity to the Amenity Center. All amenities and parks provided by the District will be accessible and available for use by the general public.
Electric and Lighting
The District presently intends to fund and construct the incremental cost of undergrounding of the electric
conduit for the required electrical system. The electrical system, including conduit, transformer/cabinet pads, and electric manholes not funded by the District will be owned and maintained by DUKE, with DUKE providing underground electrical service to the Development. The purchase and installation of street lighting along internal roadways within the District will not be funded by the District. These lights will be owned, operated and maintained by DUKE after dedication, with the District funding maintenance services. All improvements funded by the District will be on land owned by, or on which a permanent easement is granted in favor of the District or other governmental entity.

Entry Feature
Landscaping, irrigation, entry features and buffer walls at the entrances and along the outside boundary of the Development will be provided by the District. The irrigation system will use an irrigation well. The well and irrigation watermains to the various phases of the development will be constructed or acquired by the District with District funds and operated and maintained by the District. Landscaping for the roadways will consist of sod, annual flowers, shrubs, ground cover and trees for the internal roadways within the District. It should be noted that the District is only funding the capital landscaping costs. Perimeter buffer fencing will be provided at the site entrances and perimeters. These items will be funded, owned and maintained by the District.
Miscellaneous
The electric distribution system throughout the District is currently planned to be underground. The stormwater improvements, landscaping and irrigation, recreational improvements, street lighting, and certain permits and professional fees as described in this report, are being financed by the District with the intention for benefiting all of the developable real property within the District. The construction and maintenance of the proposed public improvements will benefit the development for the intended use as a single-family planned development.

PERMITTING
Construction permits for all phases are required and include the SWFWMD Environmental Resource Permit (ERP), Polk County Health Department, Florida Department of Environmental Protection (FDEP), Army Corps of Engineer Permit (ACOE), and City and County construction plan approval. Following is a summary of required permits obtained and pending for the construction of the public infrastructure improvements for the District:
PHASE 1

Permits / Approvals	Approval / Expected Date	
Zoning Approval	City Ordinances 878, 946, 947,952 and 960	
Preliminary Plat	7-20-20	
SWFWMD ERP	43044217.002 and 43044217.003	
Construction Permits	200760	
Polk County Health Department Water	139102-070 & 0139102-073 DS/C	
FDEP Sewer	CS53-0232639-040-DWC/CM & CS53-0232639-048-DWC/CM	

PHASE 2

Permits / Approvals	Approval / Expected Date	
Zoning Approval	City Ordinances 878, 945, 953,954 and 960	
Preliminary Plat	7-20-20	
SWFWMD ERP	43044217.003 and 43044217.004	
Construction Permits	200975	
Polk County Health Department Water	0139102-073 DS/C & 0139102-074 DS/C	
FDEP Sewer	CS53-0232639-048-DWC/CM &CS53-0232639-048-DWC/CM	

PHASE 3

Permits / Approvals	Approval / Expected Date	
Zoning Approval	City Ordinances 936, 937,941 and 960	
Preliminary Plat	Approved	
SWFWMD ERP	Approved	
Construction Permits	February 2022	
Polk County Health Department Water	March 2022	
FDEP Sewer	March 2022	

PHASE 4

Permits / Approvals	Approval / Expected Date	
Zoning Approval	County RMX	
Preliminary Plat	N/A	
SWFWMD ERP	February 2022	
Construction Permits	Approved	
Polk County Health Department Water	March 2022	
FDEP Sewer	March 2022	

PHASE 5

Permits / Approvals	Approval / Expected Date	
Zoning Approval	County RMX	
Preliminary Plat	June 2022	
SWFWMD ERP	June 2022	
Construction Permits	June 2022	
Polk County Health Department Water	June 2022	
FDEP Sewer	June 2022	

PHASE 6

Permits / Approvals	Approval / Expected Date	
Zoning Approval	County RMX	
Preliminary Plat	June 2022	
SWFWMD ERP	June 2022	
Construction Permits	June 2022	
Polk County Health Department Water	June 2022	
FDEP Sewer	June 2022	

RECOMMENDATION

As previously described within this report, the public infrastructure as described is necessary for the development and functional operation as required by the City and County. The site planning, engineering design and construction plans for the infrastructure are in accordance with the applicable requirements of the City, County, SWFWMD, FDEP and ACOE. It should be noted that the infrastructure will provide its intended use and function so long as the construction and installation is in substantial conformance with the design construction plans and regulatory permits.

Items utilized in the Opinion of Probable Costs for this report are based upon proposed plan infrastructure as shown on construction drawings incorporating specifications in the most current SWFWMD and the City regulations.

REPORT MODIFICATION

During development and implementation of the public infrastructure improvements as described for the District, it may be necessary to make modifications and/or deviations for the plans. However, if such deviations and/or revisions do not change the overall primary objective of the plan for such improvements, then the costs differences would not materially affect the proposed cost estimates. This report may be further amended or supplemented from time to time to provide for such changes in the development plan.

CONCLUSION

It is our professional opinion that the public infrastructure costs for the CIP provided in this Report are reasonable to complete the construction of the public infrastructure improvements. Furthermore, the public infrastructure improvements will benefit and add value to lands within the District at least equal to the costs of such improvements.

The Opinion of Probable Costs of the public infrastructure improvements is only an estimate and is not a guaranteed maximum price. The estimated costs are based upon unit prices currently experienced on an ongoing and similar basis for work in the County. However, labor market, future
costs of equipment, materials, changes to the regulatory permitting agencies activities, and the actual construction processes employed by the chosen site contractor are beyond the engineer’s control. Due to this inherent opportunity for changes (upward or downward) in the construction costs, the total, final construction cost may be more or less than this estimate.

Based upon the presumption that the CIP construction continues in a timely manner, it is our professional opinion that the proposed public infrastructure improvements when constructed and built in substantial conformance with the approved plans and specifications, can be completed and used for their intended function. Be advised that we have utilized historical costs and direct unit costs from site contractors and consultants in the City and County, which we believe to be necessary in order to facilitate accuracy associated with the Opinion of Probable Costs. Based upon the information above, it is our professional opinion that the acquisition and construction costs of the proposed CIP can be completed at the cost as stated.

CDD ADDITION
MAP ID PARCELID
21	272702713000040190
22	272702713000040210
23	272702713000040230

01
12	02	03
04

28	272710730000022700
29	272715739500010011
29	272715739500010050
30	272715740000000010
31	272702713000030191
32	272702713000030211
33	272710730000010904
05

06	11
07	09 10	31	32
08 20

13	21  22	23
15	14	24
33 16
25
CDD EXISTING
16

17 18

19
19
26

MAP ID PARCELID
01	272634000000022030
02	272634000000022020
03	272635000000044010
04	272703713500010031
05	272703000000011000
06	272703713500010200
07	272703713500010294
08	272703713500010282
09	272703713500010220

CDD
27
28
29	29
30
10	272703713500010231
11	272702713000030172
12	272634000000024120
13	272702713000040170
14	272702713000040310
15	272703713500020070
16	272710730000011202
16	272710730000010901
17	272710730000012000
18	272710730000012200
19	272710733500006011
CDD Addition
19	272710730000020500
Garmin, USGS, Intermap, INCREMENT P, NRCan, Esri Japan, METI, Esri China (Hong Kong), E	, (c)
CDD Contraction
20	272703713500010232
OpenStreetMap contribu	nity
¯

MAP DATE: 8/30/2021
Absolute Engineering,Inc makes no Warranty, representation, or guaranty as to the content, sequence, accuracy,timeliness,or completeness of any of the geodata information provided herein. Service Layer Credit:ESRI,HERE,Delorme,USGS,Intermap,OpenStreetMap contributors, and the GIS community.

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LEGAL DESCRIPTION.:

PARCEL 19: (272710- 730000-0 20500, 272710 -733500- 006011)

TRACTS 5  AND 6 IN SE 1/4	OF SECTION 10, TOWNSHIP 27 SOUTH, RANGE 27 EAST, FLORIDA DEVELOPMENT COMPANY TRACT, ACCORDING  TO THE MAP OR  PLAT THEREOF f,S  RECORDED  IN PLAT BOOK 3, PAGE 60, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, L£SS THE NORTH 25 FEET FOR ROAD
RIGHT-OF-WAY.

AND

THE WEST 45 FEET OF BLOCK 6, AND THE WEST 45 FEET OF SYLVAN WAY, DRUID HILLS UNIT NUMBER ONE ACCORDING TO THE MAP OR PLAT THEREOF >S RECORDED IN PLAT BOOK 15, PAGE 19, PUBLIC RECORDS OF POLK COUNTY, FLORIDA.

PARCEL 20: (272703- 713 500-0 10232)
SOUTH 100 FEET OF WEST 84.74 FEET OF TRACT 23, SOUTH 15 FEET OF TRACT 25 AND SOUTH 15' OF E ¾ OF TRACT 26 AND W J4 OF TRACT 26 AND SOUTH 15 FEET OF TRACT 27, FLORIDA DEVELOPMENT COMPANY SUBDMSION, ACCORDING TO PLAT THEREOF AND RECORDED IN PLAT BOOK 3 PAGES 60 THROUGH 63, PUBLIC RECORDS OF POLK COUNTY, FLORIDA.

NOTE: SUBJECT TO AN EASEMENT TO FLORIDA POWER CO. FOR POWER LINE f,S OF RECORD AND/OR IN USE.

CONTAINING 271.64 ACRES MORE OR LESS•

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 LEGAL DESCRIPTION:
 PARCEL NUMBER 21: (272702-713000-040190)

 PARCEL NUMBER 22: (272702-713000-040210

 PARCEL NUMBER 23: (272702-713000-040230)

 PARCEL NUMBER24: (272702-713000-040251)

 PARCEL NUMBER 25: (272702-713000-040260)

 PARCEL NUMBER 26: 272710-730000-021201)

 PARCEL NUMBER 27:  (272710-730000-022200)

 PARCEL NUMBER 28:  (272710-730000-022700)

 PARCEL NUMBER 29: (272715-739500-010011 AND 272715-739500-010050)

 LEGAL DESCRIPTION:
 PARCEL NUMBER 30: (272715-740000-000010)

 PARCEL NUMBER 31: 272702-713000-030191

  

 	

 LESS A PORTION OF PARCEL 31: 27-27-02-713000-030191						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 3
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
2 OF 3	

 LEGAL DESCRIPTION:
 PARCEL NUMBER 32: 272702-713000-030211

 PARCEL NUMBER 33: 272710-730000-010904

 LESS A PORTION OF EXISTING PARCEL 4: 272703-713500-010031

 LESS EXISTING PARCEL 20: (272703-713500-010232)	
¾							
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 3
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
2 OF 3	

 LEGAL DESCRIPTION:

 PARCEL  1 (272634-000000-022030)

 PARCEL  2 (272634-000000-022020)

 PARCEL  3 (272635-000000-044010)

 	     	
 PARCEL 4 (272703-713500-010031)

 PARCEL 5 (272703-000000-011000)	
 	 	 	 	 
 PARCEL 6 (272703-713500-010200)	                  

 PARCEL 7 (272703-713500-010294)						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
1 OF 7	

 LEGAL DESCRIPTION:

 PARCEL  8 (272703-713500-010282)

 PARCEL  9 (272703-713500-010220)

  

 PARCEL 10 (272703-713500-010231)

 PARCEL 11 (272702-713000-030172)	           

 PARCEL 12 (272634-000000-024120)	

	 ”

 PARCEL 13: (272702-713000-040170)						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
2 OF 7	

 LEGAL DESCRIPTION:

 PARCEL  14: (272702-713000-040310)

 PARCEL  15: (272703-713500-020070)

  
 PARCEL	
 	 	
·
 	 	 	 	
(1)		 

(2)	

(3)	
 	
(4)	                              
   	 	
(5)							
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
3 OF 7	

 LEGAL DESCRIPTION:

·

 PARCEL 17: (272710-730000-012000)

AND	

 PARCEL 18: (272710-730000-012200)							
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
4 OF 7	
 LEGAL DESCRIPTION:

 PARCEL 19: (272710-730000-020500, 272710-733500-006011)

 AND

 PARCEL 20: (272703-713500-010232)

¾

 PARCEL NUMBER 21: (272702-713000-040190)

 PARCEL NUMBER 22: (272702-713000-040210

 PARCEL NUMBER 23: (272702-713000-040230)

 PARCEL NUMBER24: (272702-713000-040251)

 PARCEL NUMBER 25: (272702-713000-040260)

 PARCEL NUMBER 26: 272710-730000-021201)

 PARCEL NUMBER 27:  (272710-730000-022200)

 PARCEL NUMBER 28:  (272710-730000-022700)

 LEGAL DESCRIPTION:
 PARCEL NUMBER 29: (272715-739500-010011 AND 272715-739500-010050)

 PARCEL NUMBER 30: (272715-740000-000010)

 PARCEL NUMBER 31: 272702-713000-030191

 LESS A PORTION OF PARCEL 31: 27-27-02-713000-030191						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
6 OF 7	

 LEGAL DESCRIPTION:

 PARCEL NUMBER 32: 272702-713000-030211

 PARCEL NUMBER 33: 272710-730000-010904

 LESS A PORTION OF EXISTING PARCEL 4: 272703-713500-010031

 	

 LESS EXISTING PARCEL 20: (272703-713500-010232)	      
¾	  						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
7 OF 7	
Exhibit 5
Summary of Proposed District Facilities

District Infrastructure	Construction	Ownership	Capital Financing*	Operation and
Maintenance	
Entry Feature & Signage	District	District	District Bonds	District	
Stormwater Facilities	District	District	District Bonds	District	
Lift Stations/Water/Sewer	District	City of Davenport	District Bonds	City of Davenport	
Street Lighting/Conduit	District	Duke/District**	District Bonds	Duke/District***	
Road Construction	District	District	District Bonds	District	
Parks & Amenities	District	District	District Bonds	District	
Offsite Improvements	District	FDOT	District Bonds	FDOT	
*Costs not funded by bonds will be funded by the developer
** District will fund undergrounding of electrical conduit
***District will fund street lighting maintenance services

Exhibit 6 Summary of Probable Cost

Infrastructure (12)	Phase 1 (295 Lots)
2020‐2023	Phase 2 (272 Lots)
2020‐2023	Phase 3 (162 Lots)
2021‐2023	Phase 4 (308 Lots)
2022‐2023	Phase 5 (532 Lots)
2022‐2023	Phase 6 (256 Lots)
2022‐2023	Powerline Road
Extension	Total
(1825 Lots)	
Offsite Improvements(1)(5)(7)(11)	$1,150,467	$1,060,770	$819,867	$1,297,418	$2,248,295	$1,098,791	$0	$7,675,609	
Stormwater Management
(1)(2)(3)(5)(6)(7)	$1,936,035	$1,785,089	$1,379,692	$2,183,327	$3,783,485	$1,849,071	$1,500,000	$14,416,699	
Utilities (Water, Sewer, & Street Lighting) (1) (5)(7) (9)(11)	$1,765,823	$1,628,148	$1,258,392	$1,991,374	$3,450,849	$1,686,505	$500,000	$12,281,092	
Roadway (1)(4)(5)(7)	$878,980	$1,897,225	$603,766	$955,444	$1,655,688	$809,171	$7,900,000	$14,700,274	
Entry Feature (1)(7)(8)911)	$109,348	$100,823	$66,803	$105,713	$183,191	$89,529	$0	$655,407	
Parks and Amenities (1)(7)(11)	$459,264	$423,456	$280,571	$443,996	$769,400	$376,023	$0	$2,752,710	
Contingency(11)	$692,425	$638,440	$440,909	$697,728	$1,209,092	$590,910	$100,000	$4,369,504	
TOTAL	$6,992,342	$7,533,951	$4,850,000	$7,675,000	$13,300,000	$6,500,000	$10,000,000	$56,851,293	

Notes:
Infrastructure consists of public roadway improvements, Stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and public neighborhood parks, all of which will be located on land owned by or subject to a permanent easement in favor of the District or another governmental entity.
Excludes grading of each lot in conjunction with lot development and home construction, which will be provided by home builder.
Includes Stormwater pond excavation. Does not include the cost of transportation of fill for use of private lots.
Includes sub‐grade, base, asphalt paving, curbing, and civil/site engineering.
Includes subdivision infrastructure and civil/site engineering.
Stormwater does not include grading associated with building pads.
Estimates are based on 2022 cost.
Includes entry features, signage, hardscape, landscape, irrigation and fencing.
CDD will enter into a Lighting Agreement with Duke Energy for the street light poles and lighting service. Includes only the incremental cost of undergrounding.
Estimates based on 1825 lots.
The costs associated with the infrastructure are a master cost and is effectively shared by the entire project (All phases).
Phasing and cost figures provided herein relate to the existing District.

01
12	02	03
04
05

060910 1
07
0820

31	32

13 21 2	23
15 14	24
3  16	25
16

17 18

19
19
26

27
28
29
30

CDD
CDDAdition
FutureLandUse2030
MU IAC
   	CITY
LAKES
C -ConvenienceCenter
NAC-NeighborhodActivityCenter CAC-ComunityActivityCenter TC-TownCenter
RAC-RegionalActivityCenter
HIC-High-ImpactCommercialCenters TC -TourismCommercialCenters LC -LinearCommercialCoridor
CE-CommercialEnclave OC-OficeCenter
EC-EmploymentCenter BPC-1-Busines ParkCenter

IND-Industrial
PI-ProfesionalInstitutional PM-PhosphateMining
LR-Lesuire/Recreation INST-1-Institutional INST-2-Institutional
ROS-RecreationOpenSpace PRESV-Preservation
CORE-CARMPCore
RC -RuralClusterCenter(Non-Residential) RC-R- RuralClusterCenter(Residential) RS-ResidentialSuburban
RL-1-ResidentialLow RL-2-ResidentialLow RL-3-ResidentialLow RL-4-ResidentialLow RM-ResidentialMedium RH-ResidentialHigh
A/R -Agriculture/ResidentialRural
Sources:Esri,HERE,Garmin,USGS,Intermap,INCREMENTP,NRCan,
BPC-2Busines ParkCenter
DRI-DevelopmentofRegionalImpact   c)
OpenStretMapcontributors,andtheGISUserCommunity

MAPDATE:5/17/2021
AbsoluteEnginering,IncmakesnoWaranty,representation,orguarantyastothecontent,sequence,acuracy,timelines,orcompletenes ofanyofthegeodatainformation providedherein.ServiceLayerCredit:ESRI,HERE,Delorme,USGS,Intermap,OpenStretMapcontributors,andtheGIScommunity.

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AMENDED AND RESTATED MASTER ASSESSMENT METHODOLOGY

FOR

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

Date: January 19, 2022

Prepared by

Governmental Management Services – Central Florida, LLC 219 E. Livingston St.
Orlando, FL 32801

Table of Contents

Introduction	3
Purpose	3
Background	4
Special Benefits and General Benefits	5
Requirements of a Valid Assessment Methodology	5
Special Benefits Exceed the Costs Allocated	6
Assessment Methodology	6
Overview	6
Allocation of Debt	6
Allocation of Benefit	7
Lienability Test: Special and Peculiar Benefit to the Property	7
Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments	8
3.0 True-Up Mechanism	9
4.0 Assessment Roll	9
5.0 Appendix	10
Table 1: Development Program	10
Table 2: Capital Improvement Cost Estimates	11
Table 3: Bond Sizing	12
Table 4: Allocation of Improvement Costs	13
Table 5: Allocation of Total Par Debt to Each Product Type	14
Table 6: Par Debt and Annual Assessments	15
Table 7: Preliminary Assessment Roll	16

GMS-CF, LLC does not represent the North Powerline Road Community Development District as a Municipal Advisor or Securities Broker nor is GMS-CF, LLC registered to
provide such services as described in Section 15B of the Securities and Exchange Act of 1934, as amended. Similarly, GMS-CF, LLC
does not provide the North Powerline Road Community Development District with financial advisory services or offer investment advice in any form.
Introduction

The North Powerline Road Community Development District (the “District”) is a local unit of special-purpose government organized and existing under Chapter 190, Florida Statutes as amended. The District anticipates the issuance at this time of not to exceed
$73,000,000 of tax exempt bonds in one or more series (the “Bonds”) for the purpose of financing certain infrastructure improvements (“Capital Improvement Plan”) within the District more specifically described in the Engineer’s Report for Capital Improvements Third Amended and Restated dated October 2021 prepared by Absolute Engineering, Inc. as may be amended and supplemented from time to time (the “Engineer’s Report”). The District anticipates the construction of all or a portion of the Capital Improvement Plan that benefit property owners within the District.

Purpose

The Board of Supervisors (“Board”) of the District previously approved the Master Assessment Methodology, dated February 2, 2020 (the “Master Report”). The Master Report established an assessment methodology the District followed to allocate debt assessments to properties within the District benefitting from the District’s CIP. Such assessments secure repayment of the Bonds. The District also previously adopted as a supplement to the Master Report, at the time of the issuance of the District’s
$12,685,000 Special Assessment Bonds, Series 2020 (“Series 2020 Bonds”), Supplemental Assessment Methodology report dated December 2, 2020 (“Series 2020 Supplemental Report”). The Series 2020 Bonds remain unchanged by this report. The Series 2020 Supplemental Report applied the methodology to the details of the Series 2020 Bonds to allocate debt assessments (“Series 2020 Assessments”) to properties within the District to secure the repayment of the Series 2020 Bonds.

The methodology established by the Master Report allocated debt assessments to planned future units of residential product types. Since adoption of the Master Report, there have been expansions to the Districts boundaries to add new parcels within the District, such that not all of the assumed planned lots found in the Master Report represent the development planned for the District and so must be revised. Specifically, the revised development plan revises the unit mix to include additional 591 lots in Phase 3, Phase 4, Phase 5 and Phase 6 as well as additional of-site improvements as indicated in the Engineers Report.

This Amended and Restated Master Assessment Methodology amends and restates the original approved Master Report (collectively, the “Assessment Report”) provides for an assessment methodology that reflects the additional parcels, improvements, and planned lots.
This Assessment Report continues to allocate the debt to properties based on the special benefits each receives from the Capital Improvements. This Assessment Report will be supplemented with one or more supplemental methodology reports to reflect the actual terms and conditions at the time of the issuance of each series of Bonds issued to finance all or a portion of the Capital Improvements. This Assessment Report is designed to conform to the requirements of Chapters 190 and 170, Florida Statutes, with respect to special assessments and is consistent with our understanding of case law on this subject.

The District intends to levy, impose and collect non ad valorem special assessments (“Special Assessments”) on the benefited lands within the District securing repayment of the Bonds based on this Assessment Report. It is anticipated that all of the proposed Special Assessments will be collected through the Uniform Method of Collection described in Section 197.3632, Florida Statutes or any other legal means available to the District. It is not the intent of this Assessment Report to address any other assessments, if applicable, that may be levied by the District including those for maintenance and operation of the Bonds, a homeowner’s association, or any other unit of government.

Background

The District currently includes approximately 271.64 acres partially located within City of Davenport and partially within unincorporated Polk County, Florida. The District is also being expanded to include an additional 157.87 acres, for a total of
acres after expansion. The development program for the District currently envisions approximately 1,868 residential units. The proposed development program is depicted in Table 1. It is recognized that such land use plan may change, and this Assessment Report will be modified or supplemented accordingly.

The improvements contemplated by the District in the Capital Improvement Plan will provide facilities that benefit property within the District. Specifically, the District will construct and/or acquire certain offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features. The acquisition and construction costs are summarized in Table 2.

The assessment methodology is a four-step process.

The District Engineer must first determine the public infrastructure improvements that are to be provided by the District and the costs to implement the Capital Improvement Plan.
The District Engineer determines the assessable acres that benefit from the District’s Capital Improvement Plan.
A calculation is made to determine the funding amounts necessary to acquire and/or construct the Capital Improvement Plan.
This amount is initially divided equally among the benefited properties on a prorated assessable acreage basis. Ultimately, as land is platted, this amount will be assigned to each of the benefited properties based on the number of platted units.

Special Benefits and General Benefits

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

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

There is no doubt that the general public and property owners outside of the District will benefit from the provision of the Capital Improvement Plan. However, these benefits will be incidental for the purpose of the Capital Improvement Plan, which is designed solely to meet the needs of property within the District. Properties outside of the District boundaries do not depend upon the District’s Capital Improvement Plan. The property owners within the District are therefore receiving special benefits not received by those outside the District’s boundaries.

Requirements of a Valid Assessment Methodology

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

The properties must receive a special benefit from the improvements being paid for.
The assessments must be fairly and reasonably allocated to the properties being assessed based on the special benefit such properties receive.

Florida law provides for a wide application of special assessments that meet these two characteristics of special assessments.

Special Benefits Exceed the Costs Allocated

The special benefits provided to the property owners within the District will be greater than the costs associated with providing these benefits. The District Engineer estimates that the District’s Capital Improvement Plan that is necessary to support full development of property within the District will cost approximately $56,891,293. The District’s Underwriter projects that financing costs required to fund the Capital Improvement Plan costs, the cost of issuance of the Bonds, the funding of a debt service reserve account and capitalized interest, will be approximately $73,000,000. Without the Capital Improvement Plan, the property within the District would not be able to be developed and occupied by future residents of the community.

Assessment Methodology

Overview

The District anticipates issuing approximately $73,000,000 in Bonds in one or more series to fund the District’s entire Capital Improvement Plan, provide for capitalized interest, a debt service reserve account and pay cost of issuance. It is the purpose of this Assessment Report to allocate the $73,000,000 in debt to the properties within the District benefiting from the Capital Improvement Plan. This report will be supplemented to reflect actual bond terms.

Table 1 identifies the land uses as identified by the Developer within the District. The District has commissioned an Engineer’s Report that includes estimated construction costs for the Capital Improvement Plan needed to support the development, which these construction costs are outlined in Table 2. The improvements needed to support the development are described in detail in the Engineer’s Report and are estimated to cost $56,891,293. Based on the estimated costs, the size of the bond issue under current market conditions needed to generate funds to pay for the Capital Improvement Plan and related costs was determined by the District’s Underwriter to total approximately $73,000,000. Table 3 shows the breakdown of the bond sizing.

Allocation of Debt

Allocation of debt is a continuous process until the development plan for the District is completed. Until the platting process occurs, the Capital Improvement Plan funded by District bonds benefits all assessable acres within the District.

The initial assessments will be levied on an equal basis to all assessable acreage within the District. A fair and reasonable methodology allocates the debt incurred by the District proportionately to the properties receiving the special benefits. At this point all of the lands within the District are benefiting from the improvements.

Once platting or the recording of a declaration of condominium of any portion of the District into individual lots or units (“Assigned Properties”) has begun, the assessments will be levied to the Assigned Properties based on the benefits they receive, on a first platted, first assigned basis. The “Unassigned Properties” defined as property that has not been platted or subjected to a declaration of condominium, will continue to be assessed on a per acre basis. Eventually the development plan will be completed and the debt relating to the bonds will be allocated to the platted units within the District, which are the beneficiaries of the Capital Improvement Plan, as depicted in Table 5 and Table 6. If there are changes to development plan, a true up of the assessment will be calculated to determine if a debt reduction or true-up payment from the Developer is required. The process is outlined in Section 3.0.

The assignment of debt in this Assessment Report sets forth the process by which debt is apportioned. As mentioned herein, this Assessment Report will be supplemented from time to time.

Allocation of Benefit

The Capital Improvement Plan consists of offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features and professional fees along with related incidental costs. There are five product categories within the planned development. The single family 40’ home has been set as the base unit and has been assigned one equivalent residential unit (“ERU”). Table 4 shows the allocation of benefit to the particular land uses. It is important to note that the benefit derived from the improvements on the particular units exceeds the cost that the units will be paying for such benefits.

Lienability Test: Special and Peculiar Benefit to the Property

Construction and/or acquisition by the District of its proposed Capital Improvement Plan will provide several types of systems, facilities and services for its residents. These include offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features. These improvements accrue in differing amounts and are somewhat dependent
on the type of land use receiving the special benefits peculiar to those properties, which flow from the logical relationship of the improvements to the properties.

Once these determinations are made, they are reviewed in the light of the special benefits peculiar to the property, which flow to the properties as a result of their logical connection from the improvements in fact actually provided.

For the provision of the Capital Improvement Plan, the special and peculiar benefits are:

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

These special and peculiar benefits are real and ascertainable, but are not yet capable of being calculated as to value with mathematical certainty. However, each is more valuable than either the cost of, or the actual non-ad valorem special assessment levied for the improvement or the debt as allocated.

Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non- Ad Valorem Assessments

A reasonable estimate of the proportion of special and peculiar benefits received from the public improvements described in the Engineer’s Report is delineated in Table 5 (expressed as Allocation of Par Debt per Product Type). This is also shown on Table 7 depicting Allocation of Par Debt per Product Type.

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

Accordingly, no acre or parcel of property within the boundaries of the District will have a lien for the payment of any non-ad valorem special assessment more than the determined special benefit peculiar to that property and therefore, the debt allocation will not be increased more than the debt allocation set forth in this Assessment Report.

In accordance with the benefit allocation suggested for the product types in Table 4, a total debt per unit and an annual assessment per unit have been calculated for
each product type (Table 6). These amounts represent the preliminary anticipated per unit debt allocation assuming all anticipated units are built and sold as planned, and the entire proposed Capital Improvement Plan is constructed.

3.0	True Up Mechanism

Although the District does not process plats, declaration of condominiums, site plans or revisions thereto for the developer, it does have an important role to play during the course of platting and site planning. Whenever a plat, declaration of condominium or site plan is processed, the District must allocate a portion of its debt to the property according to this Assessment Report outlined herein. In addition, the District must also prevent any buildup of debt on Unassigned Properties. Otherwise, the land could be fully conveyed and/or platted without  all of the debt being allocated. To preclude this, when platting for 25%, 50%, 75% and 100% of the units planned for platting has occurred within the District, the District will determine the amount of anticipated assessment revenue that remains on the Unassigned Properties, taking into account the full development plan of the District. If the total anticipated assessment revenue to be generated from the Assigned and Unassigned Properties is greater than or equal to the maximum annual debt service then no debt reduction or true-up payment is required. In the case that the revenue generated is less then the required amount then a debt reduction or true-up payment by the landowner in the amount necessary to reduce the par amount of the outstanding bonds plus accrued interest to a level that will be supported by the new net annual debt service assessments will be required.

If a true-up payment is made less than 45 days prior to an interest payment date, the amount of accrued interest will be calculated to the next succeeding interest payment date.

Assessment Roll

The District will initially distribute the liens across the property within the District boundaries on a assessable acreage basis. As Assigned Properties becomes known with certainty, the District will refine its allocation of debt from a per acre basis to a per unit basis as shown in Table 6. If the land use plan changes, then the District will update Table 6 to reflect the changes as part of the foregoing true-up process. As a result, the assessment liens are neither fixed nor are they determinable with certainty on any acre of land in the District prior to the time final Assigned Properties become known. The current assessment roll is attached as Table 7.

Land Use*	ERUs per Unit (1)	Units	Total ERUs	
TH/20' Lot	0.5	832	416	
40' Lot	1.00	845	845	
50' Lot	1.25	136	170	
55' and 65' Lot	1.38	51	70	
80' Lot	2.00	4	8	
Total Units		1,868	1,509	

Benefit is allocated on an ERU basis; based on density of planned development, with 40' lot at 1 ERU

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

 Capital Improvement Plan ("CIP")  (1)	Total Cost Estimate 

Offsite Improvements	$	7,675,609	
Stormwater Management	$	14,416,699	
Utilities (Water, Sewer, & Street Lighting)	$	12,281,092	
Roadway	$	14,700,274	
Entry Feature	$	655,407	
Parks and Amenities	$	2,752,710	
Contingencies	$	4,369,504	
 	$	56,851,293 

(1) A detailed description of these improvements is provided in the Third Amended and Restated Engineer's Report dated October 2021.

Prepared by: Governmental Management Services - Central Florida, LLC

TABLE 3
NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT BOND SIZING
AMENDED AND RESTATED MASTER ASSESSMENT METHODOLOGY		

Bond Sizing		
Description	Total	
Construction Funds	$	56,851,293	
Debt Service Reserve	$	5,303,371	
Capitalized Interest	$	8,760,000	
Underwriters Discount	$	1,460,000	
Cost of Issuance	$	220,000	
Contingency	$	405,336	

 Par Amount*	$	73,000,000 

Bond Assumptions:
Average Coupon	6.00%
Amortization	30 years
Capitalized Interest	36 months
Debt Service Reserve	Max Annual
Underwriters Discount	2%

* Par amount is subject to change based on the actual terms at the sale of the bonds Prepared by: Governmental Management Services - Central Florida, LLC

Land Use	No. of Units *	ERU Factor	Total ERUs	% of Total
ERUs	Total Improvements
Costs Per Product Type	Improvement Costs
Per Unit		
TH/20' Lot	832	0.50	416.0	28%	$	15,671,424	$	18,836	
40' Lot	845	1.00	845.0	56%	$	31,832,580	$	37,672	
50' Lot	136	1.25	170.0	11%	$	6,404,188	$	47,090	
55' and 65' Lot	51	1.38	70.1	5%	$	2,641,727	$	51,799	
80' Lot	4	2.00	8.0	1%	$	301,374	$	75,343	
	1,868		1,509	100%	$	56,851,293		

* Unit mix is subject to change based on marketing and other factors

TH/20' Lot	832	$	15,671,424	$	20,122,919	$	24,186	
40' Lot	845	$	31,832,580	$	40,874,679	$	48,372	
50' Lot	136	$	6,404,188	$	8,223,308	$	60,466	
55' and 65' Lot	51	$	2,641,727	$	3,392,115	$	66,512	
80' Lot	 	4	$	301,374	$	386,979	$	96,745 
 	1,868	$	56,851,293	$	73,000,000	

Unit mix is subject to change based on marketing and other factors

Land Use	

No. of Units *	
Allocation of Par Debt Per Product Type	
Total Par Debt Per Unit	
Maximum Annual Debt Service	Net Annual Debt Assessment Per Unit	Gross Annual Debt Assessment Per Unit (1)	
TH/20' Lot	832	$	20,122,919	$	24,186	$	1,461,908	$	1,757	$	1,889	
40' Lot	845	$	40,874,679	$	48,372	$	2,969,501	$	3,514	$	3,779	
50' Lot	136	$	8,223,308	$	60,466	$	597,414	$	4,393	$	4,723	
55' and 65' Lot	51	$	3,392,115	$	66,512	$	246,433	$	4,832	$	5,196	
80' Lot	 	4	$	386,979	$	96,745    $	28,114    $	7,028    $	7,557 
 	1,868	$	73,000,000	$	5,303,371	

(1) This amount includes estimated collection fees and early payment discounts when collected on the Polk County Tax Bill

Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Platted Lots							
				Total Par Debt	Net Annual Debt	Gross Annual	
				Allocation Per	Assessment	Debt Assessment	
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)	
JMBI REAL ESTATE LLC	272634710501000010	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000020	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000030	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000040	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000050	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000060	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000070	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000080	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000090	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000100	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000110	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000120	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000130	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000140	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000150	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000160	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000170	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000180	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000190	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000200	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000210	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000220	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000230	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000240	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000250	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000260	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000270	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000280	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000290	55/65	1	$	66,512	$	4,832	$	5,196	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501000300	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000310	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000320	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000330	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000340	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000350	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000360	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000370	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000380	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000390	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000400	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000410	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000420	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000430	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000440	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000450	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000460	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000470	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000480	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000490	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000500	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000510	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000520	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000530	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000540	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000550	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000560	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000570	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000580	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000590	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000600	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000610	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000620	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000630	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000640	40	1	$	48,372	$	3,514	$	3,779	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501000650	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000660	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000670	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000680	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000690	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000700	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000710	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000720	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000730	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000740	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000750	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000760	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000770	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000780	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000790	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000800	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000810	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000820	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000830	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000840	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000850	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000860	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000870	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000880	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000890	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000900	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000910	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000920	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000930	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501000940	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000950	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000960	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000970	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000980	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501000990	55/65	1	$	66,512	$	4,832	$	5,196	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501001000	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001010	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001020	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001030	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001040	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001050	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001060	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001070	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001080	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001090	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001100	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001110	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001120	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001130	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001140	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001150	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001160	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001170	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001180	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001190	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001200	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001210	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001220	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001230	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001240	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001250	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001260	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001270	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001280	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001290	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001300	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001310	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001320	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001330	40	1	$	48,372	$	3,514	$	3,779	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501001350	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001360	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001370	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001380	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001390	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001400	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001410	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001420	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001430	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001440	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001450	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001460	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001470	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001480	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001490	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001500	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001510	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001520	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001530	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001540	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001550	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001560	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001570	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001580	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001590	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001600	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001610	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001620	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001630	55/65	1	$	66,512	$	4,832	$	5,196	
JMBI REAL ESTATE LLC	272634710501001640	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001650	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001660	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001670	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001680	40	1	$	48,372	$	3,514	$	3,779	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501001700	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001710	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001720	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001730	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001740	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001750	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001760	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001770	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001780	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001790	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001800	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001810	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001820	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001830	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001840	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001850	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001860	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001870	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001880	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001890	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001900	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001910	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001920	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001930	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001940	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001950	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001960	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001970	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001980	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501001990	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002000	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002010	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002020	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002030	40	1	$	48,372	$	3,514	$	3,779	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501002050	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002060	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002070	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002080	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002090	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002100	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002110	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002120	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002130	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002140	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002150	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002160	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002170	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002180	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002190	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002200	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002210	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002220	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002230	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002240	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002250	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002260	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002270	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002280	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002290	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002300	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002310	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002320	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002330	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002340	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002350	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002360	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002370	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002380	40	1	$	48,372	$	3,514	$	3,779	

Total Par Debt	Net Annual Debt		Gross Annual Allocation Per		Assessment	Debt Assessment
Owner	Property ID #'s	Lot Size	Unit Count	Lot	Allocation	Allocation (1)							
JMBI REAL ESTATE LLC	272634710501002400	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002410	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002420	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002430	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002440	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002450	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002460	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002470	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002480	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002490	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002500	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002510	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002520	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002530	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002540	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002550	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002560	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002570	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002580	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002590	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002600	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002610	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002620	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002630	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002640	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002650	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002660	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002670	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002680	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002690	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002700	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002710	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002720	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL ESTATE LLC	272634710501002730	40	1	$	48,372	$	3,514	$	3,779	

Owner			

Property ID #'s	

Lot Size	

Unit Count	Total Par Debt Allocation Per Lot	N	et Annual Debt Assessment Allocation	Gross Annual Debt Assessment Allocation (1)		
JMBI REAL	ESTATE	LLC	272634710501002750	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002760	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002770	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002780	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002790	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002800	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002810	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002820	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002830	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002840	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002850	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002860	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002870	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002880	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002890	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002900	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002910	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002920	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002930	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002940	40	1	$	48,372	$	3,514	$	3,779	
JMBI REAL	ESTATE	LLC	272634710501002950	40	 	1		$	48,372		$		3,514 	$		3,779 	
Platted Totals	 	295	$	15,194,981	$	1,103,899    $	1,186,988 											
			Par Per Undeveloped	
Total Par	Net Annual Assessment	Gross Annual Assessment					

CH Dev LLC	
272634710501002980	
6.47	Acre
$ 142,044.53	Allocated
$	919,028	$	Allocation
66,766 $	Allocation
71,792					
CH Dev LLC	272703000000011010	21.63	$ 142,044.53	$	3,072,423	$	223,208 $	240,009					
CH Dev LLC	272703713500010203	10.03	$ 142,044.53	$	1,424,707	$	103,503 $	111,294					
CH Dev LLC	272703713500010294	0.81	$ 142,044.53	$	115,056	$	8,359 $	8,988					
CH Dev LLC	272703713500010282	2.47	$ 142,044.53	$	350,850	$	25,489 $	27,407					
CH Dev LLC	272703713500010220	9.78	$ 142,044.53	$	1,389,195	$	100,924 $	108,520					
CH Dev LLC	272703713500010231	18.26	$ 142,044.53	$	2,593,733	$	188,432 $	202,615					
CH Dev LLC	272702713000030172	20.13	$ 142,044.53	$	2,859,356	$	207,729 $	223,365					

	Par Per
Undeveloped Acre	
Total Par Allocated	Net Annual
Assessment Allocation	Gross Annual
Assessment Allocation			
Lowey Watters Investors LLC	272702713000040170	9.44	$ 142,044.53	$	1,340,900	$	97,415	$	104,747	
Northeast Polk Land Investments LLC	272702713000040310	9.45	$ 142,044.53	$	1,342,321	$	97,518	$	104,858	
Northeast Polk Land Investments LLC	272703713500020070	9.66	$ 142,044.53	$	1,372,150	$	99,685	$	107,188	
GLK Real Estate LLC	272710730000010901	5.48	$ 142,044.53	$	778,404	$	56,550	$	60,807	
GLK Real Estate LLC	272710730000011202	7.41	$ 142,044.53	$	1,052,550	$	76,467	$	82,222	
Northeast Polk Land Investments LLC	272710730000012000	13.23	$ 142,044.53	$	1,879,249	$	136,525	$	146,802	
Cassidy Property Investments LLC	272710730000012200	9.67	$ 142,044.53	$	1,373,571	$	99,788	$	107,299	
Cassidy Property Investments LLC	272710730000020500	9.59	$ 142,044.53	$	1,362,207	$	98,963	$	106,412	
Cassidy Property Investments LLC	272710733500006011	0.32	$ 142,044.53	$	45,454	$	3,302	$	3,551	
Flanagan Kenneth Walter Jr	272702713000040190	9.66	$ 142,044.53	$	1,372,150	$	99,685	$	107,188	
Smith Gerald S	272702713000040210	9.63	$ 142,044.53	$	1,367,889	$	99,376	$	106,856	
Smith Gerald S	272702713000040230	9.45	$ 142,044.53	$	1,342,321	$	97,518	$	104,858	
Smith Gerald S	272702713000040251	4.71	$ 142,044.53	$	669,030	$	48,604	$	52,263	
Smith Gerald S	272702713000040260	3.00	$ 142,044.53	$	426,134	$	30,958	$	33,288	
CH Dev LLC	272710730000021201	3.94	$ 142,044.53	$	559,655	$	40,658	$	43,719	
Cassidy Property Investments LLC	272710730000022200	4.95	$ 142,044.53	$	703,120	$	51,081	$	54,926	
JMBI Real Estate	272710730000022700	9.90	$ 142,044.53	$	1,406,241	$	102,162	$	109,851	
Nielsen Jan Douglas	272715739500010050	9.81	$ 142,044.53	$	1,393,457	$	101,233	$	108,853	
Nielsen Jan Douglas	272715739500010011	19.13	$ 142,044.53	$	2,717,312	$	197,410	$	212,269	
Cassidy Property Investments LLC	272715740000000010	24.58	$ 142,044.53	$	3,491,454	$	253,650	$	272,742	
Barnhill Teressa Ann	272702713000030191	30.95	$ 142,044.53	$	4,396,278	$	319,385	$	343,425	
Williams Terry	272702713000030211	31.54	$ 142,044.53	$	4,480,084	$	325,473	$	349,971	
GLK Real Estate LLC	272710730000010904	0.54	$ 142,044.53	$	76,704	$	5,572	$	5,992	
JMBI REAL ESTATE LLC	272634710501002960	 	71.33		$   142,044.53		$	10,132,036		$	736,081 	$	791,485 	
Unplatted Totals	 	406.95	$	57,805,019	$	4,199,472	$	4,515,561 

Totals
$	73,000,000	$
5,303,371	$
5,702,549

Annual Assessment Periods
Projected Bond Rate (%)	30
6.00%	
Maximum Annual Debt Service	$5,303,371	

Prepared by: Governmental Management Services - Central Florida, LLC		

 LEGAL DESCRIPTION:

 PARCEL  1 (272634-000000-022030)

 PARCEL  2 (272634-000000-022020)

 PARCEL  3 (272635-000000-044010)

 	     	
 PARCEL 4 (272703-713500-010031)

 PARCEL 5 (272703-000000-011000)	
 	 	 	 	 
 PARCEL 6 (272703-713500-010200)	                  

 PARCEL 7 (272703-713500-010294)						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
1 OF 7	

 LEGAL DESCRIPTION:

 PARCEL  8 (272703-713500-010282)

 PARCEL  9 (272703-713500-010220)

  

 PARCEL 10 (272703-713500-010231)

 PARCEL 11 (272702-713000-030172)	           

 PARCEL 12 (272634-000000-024120)	

	 ”

 PARCEL 13: (272702-713000-040170)						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
2 OF 7	

 LEGAL DESCRIPTION:

 PARCEL  14: (272702-713000-040310)

 PARCEL  15: (272703-713500-020070)

  
 PARCEL	
 	 	
·
 	 	 	 	
(1)		 

(2)	

(3)	
 	
(4)	                              
   	 	
(5)							
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
3 OF 7	

 LEGAL DESCRIPTION:

·

 PARCEL 17: (272710-730000-012000)

AND	

 PARCEL 18: (272710-730000-012200)							
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
4 OF 7	
 LEGAL DESCRIPTION:

 PARCEL 19: (272710-730000-020500, 272710-733500-006011)

 AND

 PARCEL 20: (272703-713500-010232)

¾

 PARCEL NUMBER 21: (272702-713000-040190)

 PARCEL NUMBER 22: (272702-713000-040210

 PARCEL NUMBER 23: (272702-713000-040230)

 PARCEL NUMBER24: (272702-713000-040251)

 PARCEL NUMBER 25: (272702-713000-040260)

 PARCEL NUMBER 26: 272710-730000-021201)

 PARCEL NUMBER 27:  (272710-730000-022200)

 PARCEL NUMBER 28:  (272710-730000-022700)

 LEGAL DESCRIPTION:
 PARCEL NUMBER 29: (272715-739500-010011 AND 272715-739500-010050)

 PARCEL NUMBER 30: (272715-740000-000010)

 PARCEL NUMBER 31: 272702-713000-030191

 LESS A PORTION OF PARCEL 31: 27-27-02-713000-030191						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
6 OF 7	

 LEGAL DESCRIPTION:

 PARCEL NUMBER 32: 272702-713000-030211

 PARCEL NUMBER 33: 272710-730000-010904

 LESS A PORTION OF EXISTING PARCEL 4: 272703-713500-010031

 	

 LESS EXISTING PARCEL 20: (272703-713500-010232)	      
¾	  						
ABSOLUTE
ENGINEERING, INC.
(813) 221-1516  TEL	1000 N. ASHLEY DRIVE, SUITE 925
(813) 344-0100  FAX	C.A.  NO. 28358	TAMPA,  FLORIDA 33602	EXHIBIT 4
NORTH POWER LINE ROAD CDD

	SEC TWP RGE

	JOB NUMBER
0002.0002	DRAWN BY
JJM	DATE
5-14-2021	SHEET
7 OF 7	

SECTION 4

This instrument prepared by and return to:

Roy Van Wyk, Esq.
KE LAW GROUP, PLLC
2016 Delta Boulevard, Suite 101
Tallahassee, Florida 32303

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT FOURTH AMENDED NOTICE OF IMPOSITION OF
MASTER SPECIAL ASSESSMENTS1

PLEASE TAKE NOTICE that the Board of Supervisors of the North Powerline Road Community Development District (the “District”) in accordance with Chapters 170, 190, and 197, Florida Statutes, adopted Resolution Nos. 2018-23, 2018-24, 2018-32, 2020-04, 2020-05,
2020-08, 2020-11, 2020-12, 2020-15, 2021-07, 2021-08, 2021-19,  2022-01, 2022-02, and 2022-

(collectively, the “Assessment Resolutions”) providing for and levying non-ad valorem special assessments constituting a governmental lien on certain real property within the boundaries of the District that will be specially benefitted by the Capital Improvement Plan provided by the District and described in the District’s adopted Third Amended and Restated Engineer’s Report for Capital Improvements, dated October 2021, as amended and supplemented (the “Engineer’s
Report”). The legal description of the lands on which said special assessments are imposed is

attached to this Notice as Exhibit A.  The special assessments are imposed on benefitted parcels

1 The intent of this Notice is to amend and supplement that certain North Powerline Road Community Development District Notice of Imposition of Master Special Assessments, dated November 1, 2018, recorded in the Official Records Book 10660, Pages 1104-1108, inclusive, of the Public Records of Polk County, Florida, as amended by that Amended Notice of Imposition of Master Special Assessments, dated March 11, 2020, recorded in the Official Records Book 11174, Pages 0808-0812, inclusive, of the Public Records of Polk County, Florida, as further amended by the North Powerline Road Community Development District Second Amended Notice of Imposition of Master Special Assessments dated August 5, 2020, recorded in the Official Records Book 11339, Pages 1599-1603, inclusive, of the Public Records of Polk County, Florida, and further amended by the North Powerline Road Community Development District Third Amended Notice of Imposition of Master Special Assessments dated September 22, 2021, recorded in Official Records Book 11914, Pages 0143-0151, inclusive, of the Public Records of Polk County, Florida.
within the District as described in the District’s Amended and Restated Master Assessment Methodology, dated January 19, 2022, as amended and supplemented (“Assessment Report”) approved by the District. A copy of the Engineer’s Report, the Assessment Report, and the Assessment Resolutions may be obtained by contacting the District at: North Powerline Road
Community Development District, c/o Governmental Management Services Central Florida, LLC, 219 East Livingston Street, Orlando, Florida 32801, Ph.: (407) 841-5524.
The non-ad valorem special assessments provided for in the Assessment Resolutions were legally and validly determined and levied in accordance with all applicable requirements of Florida law, and these non-ad valorem special assessments constitute and will at all relevant times in the future constitute, legal, valid and binding first liens on the land against which assessed until paid, coequal with the lien of all state, county, district and municipal taxes, and superior in dignity to all other liens, titles and claims.
The District is a special-purpose form of local government established pursuant to and governed by Chapter 190, Florida Statutes. Pursuant to Section 190.048, Florida Statutes, you are hereby notified that: THE NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT MAY IMPOSE AND LEVY TAXES OR ASSESSMENTS, OR BOTH TAXES AND ASSESSMENTS, ON THIS PROPERTY. THESE TAXES AND ASSESSMENTS PAY THE CONSTRUCTION, OPERATION, AND MAINTENANCE COSTS OF CERTAIN PUBLIC FACILITIES AND SERVICES OF THE  DISTRICT AND ARE SET ANNUALLY BY THE GOVERNING BOARD OF THE DISTRICT. THESE TAXES AND ASSESSMENTS ARE IN ADDITION TO COUNTY AND OTHER LOCAL GOVERNMENTAL TAXES AND ASSESSMENTS AND ALL OTHER TAXES AND ASSESSMENTS PROVIDED FOR BY LAW.
IN  WITNESS  WHEREOF,  this  Notice  has  been  executed  on  the 		day of

 	, 2022, and recorded in the Public Records of Polk County, Florida.

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

Chairperson, Board of Supervisors

Witness	Witness

Print Name	Print Name

STATE OF FLORIDA COUNTY OF  	

The foregoing instrument was acknowledged before me by means of ▢ physical presence or ▢ online notarization, this 	day of 	, 2022, by 	, as Vice/Chairperson of the Board of Supervisors of the North Powerline Road Community Development District.

(Official Notary Signature)
Name:  	
Personally Known  	
[notary seal]	OR Produced Identification  	
Type of Identification  	
EXHIBIT A

LEGAL DESCRIPTION

SECTION B

S ECTION 1
RESOLUTION 2022-05

RESOLUTION OF THE BOARD OF SUPERVISORS OF THE NORTH POWERLINE ROAD 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 NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT IN ACCORDANCE WITH SECTION 197.3632, FLORIDA STATUTES; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the North Powerline Road Community Development District (the “District”) was established pursuant to the provisions of Chapter 190, Florida Statutes, which authorizes the District to levy certain assessments which include benefit and maintenance assessments and further authorizes the District to levy special assessments pursuant to Chapters 170 and 197, Florida Statutes, for the acquisition, maintenance, construction, or reconstruction of assessable improvements authorized by Chapter 190, Florida Statutes; and

WHEREAS, the above referenced assessments are non-ad valorem in nature and, therefore, may be levied and collected under the provisions of Section 197.3632, Florida Statutes, in which the State of Florida has provided a uniform method for the levying, collecting, and enforcing such non-ad valorem assessments (the “Uniform Method”); and

WHEREAS, effective January 4, 2022, the boundaries of the District were subsequently amended by Ordinance No. 22-001, of the Board of County Commissioners of Polk County, Florida, to include an additional 153.5 acres of land, more or less, and contracting approximately
4.303 acres of land, more or less (together, the “Boundary Amendment Parcels”); and

WHEREAS, the Board has previously adopted Resolution 2022-03 declaring the intent to use the Uniform Method over the Boundary Amendment Parcels for the levy, collection and enforcement of non-ad valorem special assessments authorized by Section 197.3632, Florida Statutes, over certain lands within the District as described therein; and

WHEREAS, pursuant to Section 197.3632, Florida Statutes, the District has caused notice of a public hearing on the District’s intent to use the Uniform Method to be advertised weekly in a newspaper of general circulation within Polk County for four (4) consecutive weeks prior to such hearing; and

WHEREAS, the District has held a public hearing pursuant to Section 197.3632, Florida Statutes, where public and landowners were allowed to give testimony regarding the use of the Uniform Method; and

WHEREAS, the District desires to use the Uniform Method for the levy, collection and enforcement of non-ad valorem special assessments authorized by Section 197.3632, Florida
Statutes, for special assessments, including benefit and maintenance assessments, over all the lands in the District as further described in Exhibit A.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. The North Powerline Road Community Development District upon conducting its public hearing as required by Section 197.3632, Florida Statutes, hereby expresses its need and intent to use the Uniform Method of collecting assessments imposed by the District over the lands described in Exhibit A, as provided in Chapters 170 and 190, Florida Statutes, each of which are non-ad valorem assessments which may be collected annually pursuant to the provisions of Chapter 190, Florida Statutes, for the purpose of paying principal and interest on any and all of its indebtedness and for the purpose of paying the cost of operating and maintaining its assessable improvements. The legal description of the boundaries of the real property subject to a levy of assessments is attached and made a part of this Resolution as Exhibit
The non-ad valorem assessments and the District’s use of the uniform method of collecting its non-ad valorem assessment(s) may continue in any given year when the Board of Supervisors determines that use of the uniform method for that year is in the best interests of the District.

SECTION 2. The District’s Secretary is authorized to provide the Property Appraiser and Tax Collector of Polk County and the Department of Revenue of the State of Florida with a copy of this Resolution and enter into any agreements with the Property Appraiser and/or Tax Collector necessary to carry out the provisions of this Resolution.

SECTION 3. If any provision of this Resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.

SECTION 4.    This Resolution shall become effective upon its passage and shall remain in effect unless rescinded or repealed.
PASSED AND ADOPTED this 23rd day of February, 2022.
ATTEST:	NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Exhibit A:	Legal Description of Boundary Amendment Parcels
EXHIBIT A - Legal Description of Boundary Amendment Parcels

S	ECTION ·

SUPPLEMENTAL

ASSESSMENT METHODOLOGY - ASSESSMENT AREA TWO

FOR

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

Date: February 23, 2022

Prepared by

Governmental Management Services - Central Florida, LLC 219 E. Livingston St.
Orlando, FL 32801

Table of Contents
lntroduction	3
Purpose	3
Background	3
Special Benefits and General Benefits	4
Requirements of a Valid Assessment Methodology	4
Special Benefits Exceed the Costs Allocated	5
2.0 Assessment Methodology ..................................................•.	5
2.1 Overview .................................................................................._ 	5
2.2 Allocation of Debt ....................................................................................6...
Allocation of Benefit	6
Lienability Test: Special and Peculiar Benefit to the Property	6
Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments	7
3.0 True-Up Mechanism ........................................•.	8
4.0 Assessment Roll	8
5.0 Appendix	9
Table 1: Development Program	9
Table 2: Capital Improvement Cost Estimates	10
Table 3: Bond Sizing	11
Table 4: Allocation of Improvement Costs	12
Table 5: Allocation of Total Par Debt to Each Product Type	13
Table 6: Par Debt and Annual Assessments	14
Table 7: Preliminary Assessment Roll	15

GMS-CF, LLC does not represent the North Powerline Road Community Development District as a Municipal Advisor or Securities Broker nor is GMS-CF, LLC registered to
provide such services as described in Section 158 of the Securities and Exchange Act of 1934, as amended. Similarly, GMS-CF, LLC
does not provide the North Powerline Road Community Development District with financial advisory services or offer investment advice in any form.
Introduction

The North Powerline Road Community Development District (the "District") is a local unit of special-purpose government organized and existing under Chapter 190, Florida Statutes as amended. The District anticipates issuing $8,130,000 of tax-exempt bonds (the "Series 2022 Bonds") for the purpose of financing certain infrastructure improvements for Phase 3 and Phase 4 ("Capital Improvement Plan", also known as the Assessment Area Two Project) within the District more specifically described in the Third Amended and Restated Engineer's Report for Capital Improvements dated February 2022 prepared by Absolute Engineering, Inc., as may be amended and supplemented from time to time (the "Engineer's Report"). The District anticipates the construction of all or a portion of the Capital Improvement Plan that benefit property owners within the District.

Purpose

This Supplemental Assessment Methodology (the "Assessment Report") supplements the Amended and Restated Master Assessment Methodology, dated January 19, 2022. The Assessment Report provides for an assessment methodology that allocates the Assessment Area Two Special Assessments to benefiting properties within the District bonndaries known as Assessment Area Two. This Assessment Report allocates the debt to properties based on the special benefits each receives from the Capital Improvement Plan. This Assessment Report may be supplemented with one or more supplemental methodology reports to reflect the actual terms and conditions at the time of the issuance. This Assessment Report is designed to conform to the requirements of Chapters 190, 197 and 170, Florida Statutes with respect to special assessments and is consistent with our understanding of case law on this subject.

The District intends to impose non ad valorem special assessments on the benefited lands within the District based on this Assessment Report. It is anticipated that all of the proposed special assessments will be collected through the Uniform Method of Collection described in Chapter 197.3632, Florida Statutes or any other legal means available to the District. It is not the intent of this Assessment Report to address any other assessments, if applicable, that may be levied by the District, a homeowner's association, or any other unit of government.

Background

The District currently includes approximately 426 acres in Poll< County, Florida. The development program for Assessment Area Two of the District currently envisions approximately 470 residential units. The proposed development program is depicted in Table 1. It is recognized that such land use plan may change, and this Assessment Report will be modified or supplemented accordingly.

The improvements contemplated by the District in the Assessment Area Two Capital Improvement Plan will provide facilities that benefit certain property within Assessment Area Two of the District. Specifically, the District will construct and/or acquire certain offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features. The acquisition and construction costs are summarized in Table 2.

The assessment methodology is a four-step process.

The District Engineer must first determine the public infrastructure improvements that may be provided by the District and the costs to implement the Capital Improvement Plan.
The District Engineer determines the assessable acres that benefit from the District's Capital Improvement Plan.
A calculation is made to determine the funding amounts necessary to acquire and/ or construct the Capital Improvement Plan.
This amount is initially divided equally among the benefited properties on a prorated assessable acreage basis. Ultimately, as land is platted, this amount will be assigned to each of the benefited properties based on the number of platted units.

Special Benefits and General Benefits

Improvements undertaken by the District create special and peculiar benefits to the property within Assessment Area Two, different in kind and degree than general benefits, for properties within its borders as well as general benefits to the public at large.

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

There is no doubt that the general public and property owners outside of the District will benefit from the provision of the Assessment Area Two Capital Improvement Plan. However, these benefits will be incidental for the purpose of the Assessment Area Two Capital Improvement Plan, which is designed solely to meet the needs of property within Assessment Area Two of the District. Properties outside of the Assessment Area Two of District boundaries do not depend upon the District's Assessment Area Two Capital Improvement Plan. The property owners within the District are therefore receiving special benefits not received by those outside the Assessment Area Two of the District's boundaries.

Requirements of a Valid Assessment Methodology

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

The properties must receive a special benefit from the improvements being paid for.
The assessments must be fairly and reasonably allocated to the properties being assessed based on the special benefit such properties receive.

Florida law provides for a wide application of special assessments that meet these two characteristics of special assessments.

Special Benefits Exceed the Costs Allocated

The special benefits provided to the property owners within the District will be greater than the costs associated with providing these benefits. The District Engineer estimates that the District's Assessment Area Two Capital Improvement Plan that is necessary to support full development of property within the District will cost approximately
$12,525,000. The District's Underwriter projects that financing costs required to fund a portion of the Assessment Area Two Capital Improvement Plan costs, the cost of issuance of the Assessment Area Two Bonds, the funding of a debt service reserve account and capitalized interest, is $8,130,000. JMBI Real Estate, LLC and CH Dev, LLC as developers (the "Developer") would fund any additional funds needed to complete the Assessment Area Two Capital Improvement Plan. Without the Assessment Area Two Capital Improvement Plan, the property within the District would not be able to be developed and occupied by future residents of the community.

Assessment Methodology

Overview

The District anticipates issuing $8,130,000 in Assessment Area Two Bonds to fund a portion of the District's Capital Improvement Plan, provide for capitalized interest, a debt service reserve account and pay cost of issuance. It is the purpose of this Assessment Report to allocate the $8,130,000 in debt to the properties benefiting from the Assessment Area Two Capital Improvement Plan. This report will be supplemented to reflect actual bond terms.

Table 1 identifies the land uses as identified by the Developer within Assessment Area Two of the District. The District has approved an Engineer's Report that includes estimated construction costs for the Assessment Area Two Capital Improvement Plan needed to support the development, which these construction costs are outlined in Table 2. The improvements needed to support the development are described in detail in the Engineer's Report and are estimated to cost $12,525,000. The size of the bond issue under current
market conditions needed to generate funds to pay for a portion of the Assessment Area Two Capital Improvement Plan and related costs was determined by the District's Underwriter to total $8,130,000. It is anticipated that the District will issue less than the full cost to complete the Assessment Area Two Capital Improvement Plan. The Developer will pay the cost to complete the Assessment Area Two Capital Improvement Plan. This obligation is anticipated to be formalized by a Completion Agreement executed at the time of the issuance of bonds. Table 3 shows the breakdown of the bond sizing.

Allocation of Debt

Allocation of debt is a continuous process until the development plan for Assessment Area Two of the District is completed. Until the platting process occurs, the Assessment Area Two Improvement Plan funded by Assessment Area Two District bonds benefits all developable property within Assessment Area Two of the District.

The initial assessments will be levied on an equal basis to all gross acreage within the Assessment Area Two of District. A fair and reasonable methodology allocates the debt incurred by the District proportionately to the properties receiving the special benefits. At this point all of the lands within the District are benefiting equally from the improvements.

Once platting or the recording of a declaration of condominium of any portion of the District into individual lots or units ("Assigned Properties") has begun, the assessments will be approved to the Assigned Properties based on the benefits they receive, on a first platted, first assigned basis. The "Unassigned Properties" defined as property that hasnot been platted or subjected to a declaration of condominium, will continue to be assessed on a per acre basis. Eventually the development plan will be completed and the debt relating to the bonds will be allocated to the platted units within the District, which are the beneficiaries of the Capital Improvement Plan, as depicted in Table 5 and Table 6. If there are changes to development plan, a true up of the assessment will be calculated to determine if a debt reduction or true-up payment from the Developer is required. The process is outlined in Section 3.0. Developer is contributing infrastructure to reduce par debt to bring debt allocations to target levels.

The assignment of debt in this Assessment Report sets forth the process by which debt is apportioned. As mentioned herein, this Assessment Report may be supplemented from time to time.

Allocation of Benefit

The Capital Improvement Plan consists of offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features and professional fees along with related incidental costs. There are two product types within the planned development. The single family 40/ 45' home has been set as the base unit and has been assigned one equivalent residential unit ("ERU"). The Townhome lot is set at .5 ERU. Table 4 shows the allocation of benefit to the particular land uses. It is important to
note that the benefit derived from the improvements on the particular units exceeds the cost that the units will be paying for such benefits.

Lienability Test: Special and Peculiar Benefit to the Property

Construction and/ or acquisition by the District of its proposed Assessment Area Two Capital Improvement Plan will provide several types of systems, facilities and services for its residents. These include offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features. These improvements accrue in differing amounts and are somewhat dependent on the type of land use receiving the special benefits peculiar to those properties, which flow from the logical relationship of the improvements to the properties.

Once these determinations are made, they are reviewed in the light of the special benefits peculiar to the property, which flow to the properties as a result of their logical connection from the improvements in fact actually provided.

For the provision of the Assessment Area Two Capital Improvement Plan, the special and peculiar benefits are:

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

These special and peculiar benefits are real and ascertainable but are not yet capable of being calculated as to value with mathematical certainty. However, each is more valuable than either the cost of, or the actual non-ad valorem special assessment levied for the improvement or the debt as allocated.

Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments

A reasonable estimate of the proportion of special and peculiar benefits received from the public Improvements described in the Engineer's Report is delineated in Table 5 (expressed as Allocation of Par Debt per Product Type). This is also shown on Table 7 depicting Allocation of Par Debt per Product Type.

The determination has been made that the duty to pay the non-ad valorem special assessments is fairly and reasonably apportioned because the special and peculiar benefits to the property derived from the acquisition and/ or construction of the Capital Improvement Plan have been apportioned to the property within the Assessable Parcels according to reasonable estimates of the special and peculiar benefits provided consistent with the land use categories.

Accordingly, no acre or parcel of property within the boundaries of the Assessable Parcels
will have a lien for the payment of any non-ad valorem special assessment  more than the
determined special benefit peculiar to that property and therefore, the debt allocation will not be increased more than the debt allocation set forth in this Assessment Report.

In accordance with the benefit allocation suggested for the product types in Table 4, a total debt per unit and an annual assessment per unit have been calculated for each product type (Table 6). These amounts represent the preliminary anticipated per unit debt allocation assuming all anticipated units are built and sold as planned, and the entire proposed Assessment Area Two Capital Improvement Plan is constructed.

3.0	True Up Mechanism

Although the District does not process plats, declaration of condominiums, site plans or revisions thereto for the Developer, it does have an important role to play during the course of platting and site planning. Whenever a plat, declaration of condominium or site plan is processed, the District must allocate a portion of its debt to the property according to this Assessment Report outlined herein. In addition, the District must also prevent any buildup of debt on Unassigned Properties. Otherwise, the land could be fully conveyed and/ or platted without all of the debt being allocated. To preclude this, when platting for 25%, 50%, 75% and 100% of the units planned for platting has occurred within Phase 1 Assessment Area of the District, the District will determine the amount of anticipated assessment revenue that remains on the Unassigned Properties, taking into account the full development plan of Assessment Area Two of the District. If the total anticipated assessment revenue to be generated from the Assigned and Unassigned Properties is greater than or equal to the maximum annual debt service, then no debt reduction or true­ up payment is required. In the case that the revenue generated is less then the required amount then a debt reduction or true-up payment by the landowner in the amount necessary to reduce the par amount of the outstanding bonds plus accrued interest to a level that will be supported by the new net annual debt service assessments will be required.

If a true-up payment is made less than 45 days prior to an interest payment date, the amount of accrued interest will be calculated to the next succeeding interest payment date.

Assessment Roll

The District will initially distribute the liens across the 308 lots planned for the Assessment Area Two within the District boundaries on a gross acreage basis. As Assigned Properties become known with certainty, the District will refine its allocation of debt from a per acre basis to a per unit basis as shown in Table 6. If the land use plan changes, then the District will update Table 6 to reflect the changes as part of the foregoing true-up process. As a result, the assessment liens are neither fixed nor are they determinable with certainty on any acre of land in the District prior to the time final Assigned Properties become known. The cmrent assessment roll is attached as Table 7.

Land Use	 District	ERUs per Unit (1)	Total ERUs	

	Deer Run Phase 3- Single Family	162	1.00	162	
	Horse Creek Phase 4 - Townhome	300	0.5	150	
	Horse Creek Phase 4 - Single Famil\	8	1.00	8	
	Total Units	470		320	

Benefit is allocated on an ERU basis; based on density of planned development, with Single Family= 1 ERU

* Unit mix is subject to change based on marketing and other factors
<O

Prepared by: Governmental Management Services - Central Florida, LLC

		Capital Improvement Plan ("CIP") (1)	Phase 3	Phase 4	Total		
		
Offsite Improvements	
$	819,867	
$	1,297,418	
$	2,117,285		
		Stormwater Management	$	1,379,692	$	2,183,327	$	3,563,019		
		Utilities (Water, Sewer, & Street Lighting)	$	1,258,392	$	1,991,374	$	3,249,766		
		Roadway	$	603,766	$	955,444	$	1,559,210		
		Entry Feature	$	66,803	$	105,713	$	172,516		
		Parks and Amenities	$	280,571	$	443,996	$	724,567		
		Contingencies	$	440,909	$	697,729	$	1,138,638		
			$	4,850,000	$	7,675,000	$	12,525,000		

0							

(1) A detailed description of these improvements is provided in the Third Amended and Restated Engineer's Report dated February 2022

Description	Total
Construction Funds - Deer Run	$	3,884,873	
Construction Funds - Horse Creek 4	$	3,196,470	
Debt Service Reserve	$	484,500	
Capitalized Interest	$	201,556	
Underwriters Discount	$	162,600	
Cost of lssua nee	$	200,000	
Par Amount*	$	8,130,000	

Bond Assum_E>_tions:		
Average Coupon	4.25%	
Amortization	30 years	
Capitalized Interest	7 months	
Debt Service Reserve	Max Annual	
Underwriters Discount	2%	

* Par amount is subject to change based on the actual terms at the sale of the bonds

% of Total	Total Improvements	Improvement Costs
Land Use	No. of Units*	ERU Factor Total ERUs	ERUs	 Costs Per Product Type		Per Unit

Deer Run Phase 3- Single Family	162	1.00	162	50.63%	$	4,850,000	$	29,938
Horse Creek Phase 4 - Townhome	300	0.50	150	46.88%	$	7,286,392	$	24,288
Horse Creek Phase 4 - Single Famii·	8	1.00	8	2.50%	$	388,608	$	48,576

Totals	470	320	100.00%	$	12,525,000

* Unit mix is subject to change based on marketing and other factors

N

Prepared by: Governmental Management Services - Central Florida, LLC

Land Use	

Total Improvements Costs Per Product
No. of Units * 	Type	
Par Debt at Issue Per Product Type - Before Developer
Contribution	

Developer Contribution	
Par Debt Per Product Type After Developer
Contributon	

Per Unit Revised Par		

Deer Run Phase 3- Single Family	
162	
$	4,850,000	
$	4,621,263	
$	951,437	
$	3,669,827	
$	22,653	
Horse Creek Phase 4 - Townhome	300	$	7,286,392	$	4,278,947	$	-	$	4,278,947	$	14,263	
Horse Creek Phase 4 - Single Family	8	$	388,608	$	228,211	$	46,985	$	181,226	$	22,653	
Totals	462	$	12,525,000	$	9,128,421	$	998,421	$	8,130,000		

w	* Unit mix is subject to change based on marketing and otherfactors

Prepared by: Governmental Management Services - Central Florida, LLC

Net Annual Gross Annual
Allocation of Par			Maximum		Debt		Debt Debt Per Product	Total Par Debt Per	Annual Debt	Assessment	Assessment
Land Use	No. of Units *	Type	 	Unit	Service	Per Unit	Per Unit (1)

Deer Run Phase 3- Single Family	162	$	3,669,827	$	22,653	$	218,700	$	1,350    $	1,452	
Horse Creek Phase 4 - Townhome	300	$	4,278,947	$	14,263	$	255,000	$	850    $	914	
Horse Creek Phase 4 - Single Family	8	$	181,226	$	22,653	$	9,450	$	1,181   $	1,270	

Totals	470	$	8,130,000	$	484,500

This amount includes an estimated 7% collection fees and early payment discounts when collected on the Polk County Tax Bill

* Unit mix is subject to change based on marketing and other factors

-1:>

Total Par Debt		Net Annual Debt		Gross Annual Allocation Per	Total Par Debt		Assessment	Debt Assessment
Owner	 	Property ID #'s	Acres	Acre	Allocated	Allocation	Allocation (1)

CH DEV LLC	27-27-02-713000-030211	31.54	$81,923	$	2,583,839	$	153,982	$	165,572	
CH DEV LLC	27-27-02-713000-030191	30.95	$81,923	$	2,535,505	$	151,101	$	162,474	
NORTHEAST POLK LAND INVESTMENTS LLC	27-27-10-730000-012000	13.23	$81,923	$	1,083,836	$	64,590	$	69,452	
CASSIDY PROPERTY INVESTMENTS LLC	27-27-10-733500-006011	0.32	$81,923	$	26,215	$	1,562	$	1,680	
CASSIDY PROPERTY INVESTMENTS LLC	27-27-10-730000-020500	9.59	$81,923	$	785,638	$	46,819	$	50,343	
CASSIDY PROPERTY INVESTMENTS LLC	27-27-10-730000-012200	9.67	$81,923	$	792,192	$	47,210	$	50,763	
CH DEV LLC	27-27-10-73000-021201	3.94	$81,923	$	322,775	$	19,235	$	20,683	

Totals	99.24	$	8,130,000	$	484,500	$	520,968

(11	(1) This amount includes an estimated 7% to cover collection fees and early payment discounts when collected utilizing the uniform method.

- -·-  -  --=

S ECTION VI
RESOLUTION 2022-06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING THE ISSUANCE OF ITS NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS, SERIES 2022 (THE "SERIES 2022 BONDS"); DETERMINING CERTAIN DETAILS OF THE SERIES 2022 BONDS AND ESTABLISHING CERTAIN PARAMETERS FOR THE SALE THEREOF; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A SECOND SUPPLEMENTAL TRUST INDENTURE; AUTHORIZING THE NEGOTIATED SALE OF THE SERIES 2022 BONDS; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND PURCHASE CONTRACT WITH RESPECT TO THE SERIES 2022 BONDS AND AWARDING THE SERIES 2022 BONDS TO THE UNDERWRITER NAMED THEREIN; APPROVING THE FORM OF AND AUTHORIZING THE DISTRIBUTION OF A PRELIMINARY LIMITED OFFERING MEMORANDUM RELATING TO THE SERIES 2022 BONDS AND ITS USE BY THE UNDERWRITER IN  CONNECTION WITH THE OFFERING FOR SALE OF THE SERIES 2022 BONDS; APPROVING THE EXECUTION AND DELIVERY OF A FINAL LIMITED OFFERING MEMORANDUM RELATING TO THE SERIES 2022 BONDS; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A CONTINUING DISCLOSURE AGREEMENT; PROVIDING FOR THE APPLICATION OF SERIES 2022 BOND PROCEEDS; AUTHORIZING THE PROPER OFFICIALS TO DO ALL THINGS DEEMED NECESSARY IN CONNECTION WITH THE ISSUANCE, SALE AND DELIVERY OF THE SERIES 2022 BONDS; MAKING CERTAIN DECLARATIONS; PROVIDING AN EFFECTIVE DATE AND FOR OTHER PURPOSES.

WHEREAS, North Powerline Road Community Development District (the "District") is a local unit of special purpose government duly organized and existing under the provisions of the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the "Act") created pursuant to Ordinance No. 18-036 enacted by the Board of County Commissioners of Polk County, Florida (the "County") on June 5, 2018, as amended by Ordinance Nos. 20-028, 20-046 and 22-001, enacted by the Board of County Commissioners of the County on June 16, 2020, December 2, 2020 and January 4, 2022, respectively, and approved and consented to by the City Commission of the City of Davenport, Florida pursuant to Resolution Nos. 387-18, 456-20 and 474-21, adopted on March 19, 2018, November 16, 2020
and December 6, 2021, respectively; and

WHEREAS, pursuant to the Act and Resolution No. 2018-25 duly adopted by the Board of Supervisors of the District (the "Board") on July 18, 2018 (the "Original Bond Resolution"), as amended by Resolution No. 2021-23 adopted by the Board on September 22, 2021 (the
"Amending Bond Resolution" and together with the Original Bond Resolution, the "Bond Resolution") increasing the maximum aggregate principal amount of Bonds authorized to be issued by the District in one or more series from $22,000,000 to $62,000,000, the Board has approved the form of a Master Trust Indenture (the "Master Indenture"), between the District and
U.S. Bank Trust Company, National Association (successor to U.S. Bank National Association), as Trustee (the "Trustee"); and

WHEREAS, pursuant to the Original Bond Resolution and Resolution Nos. 2020-02 and 2021-01, adopted by the Board on February 5, 2020 and October 7, 2020, respectively, the District issued $12,685,000 aggregate principal amount of North Powerline Community Development District Special Assessment Bonds, Series 2020, pursuant to the Master Indenture, as amended and supplemented from time to time, in particular as supplemented by the First Supplemental Trust Indenture dated as of December 1, 2020 between the District and Trustee, the proceeds of which were used to provide funds for the payment of a portion of the costs of the Projects known as Phases 1 and 2; and

WHEREAS, the District duly adopted Resolution No. 2022-01 on January 19, 2022, declaring the levy and collection of special assessments (the "Special Assessments") pursuant to the Act and Chapter 170, Florida Statues, indicating the location, nature and estimated cost of the improvements which cost is to be defrayed by the Special Assessments, providing the manner in which the Special Assessments will be made, designating the lands upon which the Special Assessments will be levied, authorizing the preparation of a preliminary assessment roll and fixing the time and place of a public hearing; and

WHEREAS, in connection with the adoption of Resolution No. 2022-01, the District adopted the Engineer's Report (as hereinafter defined) and the Amended and Restated Master Assessment Methodology dated January 19, 2022 (the "Amended Master Assessment Methodology"), prepared by the District's methodology consultant, Governmental Management Services – Central Florida, LLC (the "Methodology Consultant"), setting forth the District's methodology for allocating debt to property within the District; and
WHEREAS, the District duly adopted Resolution No. 2022-02 on January 19, 2022, setting a public hearing to be held on February 23, 2022, for the purpose of hearing public comment on imposing the Special Assessments; and

WHEREAS, the first portion of the Project is to be financed with the proceeds of the Series 2022 Bonds (as hereinafter defined), as described more particularly in the Engineer's Report for Capital Improvements Third Amended and Restated dated February 2022 (the "Engineer's Report"), and prepared by Absolute Engineering, Inc., and summarized in Schedule I attached to this Resolution and referred to therein as "Phase 3" and "Phase 4" (the "Series 2022 Project"); and

WHEREAS, prior to the issuance of the Series 2022 Bonds the District will duly adopt a Resolution authorizing the undertaking of the Project and equalizing, approving, confirming and levying the Special Assessments on the property within the District benefitted by the Series 2022 Project; and
WHEREAS, the District has determined to issue its North Powerline Road Community Development District Special Assessment Bonds, Series 2022 (the "Series 2022 Bonds") for the primary purpose of providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2022 Project as summarized in Schedule I, attached hereto; and

WHEREAS, the Series 2022 Bonds constitute Bonds validated and confirmed by a final judgment of the Tenth Judicial Circuit Court in and for Hardee, Highlands and Polk Counties, Florida, rendered on 25th day of September, 2018; and

WHEREAS, the Series 2022 Bonds will be secured by special assessments levied and imposed on assessable land within the District in accordance with the Assessment Methodology Report; and
WHEREAS, there has been submitted to this meeting with respect to the issuance and sale of the Series 2022 Bonds and submitted to the Board:
a form of Second Supplemental Trust Indenture between the Trustee and the District attached hereto as Exhibit A (the "Second Supplemental Indenture" and together with the Master Indenture, the "Indenture"); and

a form of Bond Purchase Contract with respect to the Series 2022 Bonds between FMSbonds, Inc. (the "Underwriter") and the District attached hereto as Exhibit B (the "Bond Purchase Contract"), together with the form of a disclosure statement attached to the Bond Purchase Contract in accordance with Section 218.385, Florida Statutes; and

a form of Preliminary Limited Offering Memorandum relating to the Series 2022 Bonds attached hereto as Exhibit C (the "Preliminary Limited Offering Memorandum"); and

a form of Rule 15c2-12 Certificate of the District relating to the Preliminary Limited Offering Memorandum, attached hereto as Exhibit D (the "Rule 15c2-12 Certificate"); and
a form of the Continuing Disclosure Agreement (the "Continuing Disclosure Agreement") to be entered into among the District, the dissemination agent named therein (the "Dissemination Agent"), and any landowner constituting an "Obligated Person" under the terms of the Continuing Disclosure Agreement, attached hereto as Exhibit E;

WHEREAS, any capitalized term used herein and not otherwise expressly defined herein shall have the meaning ascribed thereto in the Indenture; and

NOW, THEREFORE, BE IT RESOLVED by the Board of Supervisors of North Powerline Road Community Development District, as follows:
Section 1. Authorization of Issuance of Series 2022 Bonds. There are hereby authorized and directed to be issued North Powerline Road Community Development District Special Assessment Bonds, Series 2022 in an aggregate principal amount not to exceed
$9,315,000, for the purposes of (i) providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2022 Project, (ii) making a deposit to the Series 2022 Reserve Account in an amount equal to the Series 2022 Reserve Requirement, (iii) funding a portion of the interest coming due on the Series 2022 Bonds, and (iv) paying certain costs of issuance in respect of the Series 2022 Bonds. The Series 2022 Bonds shall be issued under and secured by the Indenture the form of which by reference is hereby incorporated by reference into this resolution as if set forth in full herein.

Section 2. Details of the Series 2022 Bonds. The District hereby determines that the Series 2022 Bonds shall mature in the amounts and at the times, shall bear interest at the rates, be redeemable at the redemption prices and in the manner as determined by the Chairperson of the Board of Supervisors of the District (the "Chairperson") or any member of the Board of Supervisors designated by the Chairperson (a "Designated Member"), prior to the sale of said Series 2022 Bonds, all in a manner consistent with the requirements of the Bond Resolution and within the parameters set forth in Section 5 hereof.

Section 3. Second Supplemental Indenture. The District hereby approves and authorizes the execution of the Second Supplemental Indenture by the Chairperson or any Designated Member and the Secretary or any Assistant Secretary of the Board of Supervisors (the "Secretary") and the delivery of the Second Supplemental Indenture in substantially the form thereof attached hereto as Exhibit A, with such changes therein as shall be approved by the Chairperson or Designated Member 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 Second Supplemental Indenture attached hereto.

Section 4.     Negotiated Sale. The Series 2022 Bonds shall be sold by a negotiated sale to the Underwriter. It is hereby determined by the District that a negotiated sale of the Series 2022 Bonds to the Underwriter will best effectuate the purposes of the Act, is in the best interests of the District and is necessitated by, in general, the characteristics of the issues and prevailing market conditions and specifically, the following additional reasons:

because of the complexity of the financing structure of the Series 2022 Bonds, including the pledge of Special Assessments as security for the Series 2022 Bonds, it is desirable to sell the Series 2022 Bonds pursuant to a negotiated sale so as to have an underwriter involved from the outset of the financing to assist in these matters;

because of changing market conditions for tax-exempt bonds and the necessity of being able to adjust the terms of the Series 2022 Bonds, it is in the best interests of the District to sell the Series 2022 Bonds by a negotiated sale;
the Underwriter has participated in structuring the issuance of the Series 2022 Bonds and can assist the District in attempting to obtain the most attractive financing for the District;
the Series 2022 Bonds do not bear a credit rating and will be offered initially only to accredited investors within the meaning of Chapter 517, Florida Statutes, and the rules of the Florida Department of Financial Services promulgated thereunder; and
the District will not be adversely affected if the Series 2022 Bonds are not sold pursuant to a competitive sale.
Section 5. Bond Purchase Contract.  The District hereby approves the form of the  Bond Purchase Contract submitted by the Underwriter and attached hereto as Exhibit B, and the sale of the Series 2022 Bonds by the District upon the terms and conditions set forth in the Bond Purchase Contract is hereby approved. The Chairperson or a Designated Member are each hereby authorized, acting individually, to execute the Bond Purchase Contract and to deliver the Bond Purchase Contract to the Underwriter. The Bond Purchase Contract shall be in substantially the form of the Bond Purchase Contract attached hereto as Exhibit B with such changes, amendments, modifications, omissions and additions as may be approved by the Chairperson or the Designated Member; provided, however,

If the Series 2022 Bonds are subject to optional redemption, which determination will be made on or before the sale date of the Series 2022 Bonds, the first optional call date and the redemption price shall be determined on or before the Bond Purchase Contract is executed;
The interest rate on the Series 2022 Bonds shall not exceed an average net interest cost rate, which shall be computed by adding 300 basis points to The Bond Buyer "20 Bond Index" published immediately preceding the first day of the calendar month in which the bonds are sold, as provided in Section 215.84(3), Florida Statutes, as amended;
The aggregate principal amount of the Series 2022 Bonds shall not exceed
$9,315,000;
The Series 2022 Bonds shall have a final maturity not later than the maximum term allowed by Florida law, with a principal amortization period of no longer than thirty (30) years; and

The price at which the Series 2022 Bonds shall be sold to the Underwriter shall not be less than 98% of the aggregate face amount of the Series 2022 Bonds, exclusive of original issue discount.
Execution by the Chairperson or a Designated Member of the Bond Purchase Contract shall be deemed to be conclusive evidence of approval of such changes.
Section 6. Preliminary Limited Offering Memorandum; Final Limited Offering Memorandum. The District hereby approves the form of the Preliminary Limited Offering Memorandum submitted to this meeting and attached hereto as Exhibit C and authorizes its distribution and use in connection with the limited offering for sale of the Series 2022 Bonds. The preparation of a final Limited Offering Memorandum relating to the Series 2022 Bonds (the "Limited Offering Memorandum") is hereby approved and the Chairperson or any Designated Member is hereby authorized to execute such final Limited Offering Memorandum to be dated the date of the award of the Series 2022 Bonds and, upon such award, to deliver the same to the
Underwriter for use by it in connection with the sale and distribution of the Series 2022 Bonds. The Limited Offering Memorandum shall be substantially in the form of the Preliminary Limited Offering Memorandum attached hereto as Exhibit C, with such changes as shall be approved by the Chairperson or Designated Member as necessary to conform the details of the Series 2022 Bonds and such other insertions, modifications and changes as may be approved by the Chairperson or Designated Member. The execution and delivery of the Limited Offering Memorandum by the Chairperson or Designated Member shall constitute evidence of the approval thereof. The District hereby authorizes the use of the Limited Offering Memorandum and the information contained therein in connection with the offering and sale of the Series 2022 Bonds. The Chairperson is further authorized to deem the Preliminary Limited Offering Memorandum "final" within the meaning of Rule 15c2-12 of the Securities and Exchange Commission under the Securities Exchange Act of 1934, in the form as mailed, and in furtherance thereof to execute the Rule 15c2-12 Certificate evidencing the same substantially in the forms attached hereto as Exhibit D.

Section 7. Continuing Disclosure. The District hereby authorizes and approves the execution and delivery of the Continuing Disclosure Agreement by and among the District, the Dissemination Agent and any landowner constituting an "Obligated Person" under the Continuing Disclosure Agreement, by the Chairperson or a Designated Member substantially in the form presented to this meeting and attached hereto as Exhibit E, with such changes therein as shall be approved by the Chairperson or Designated Member 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 Continuing Disclosure Agreement attached hereto. The Continuing Disclosure Agreement is being executed by the District in order to assist the Underwriter in complying with Rule 15c2-12(b)(5) promulgated by the U.S. Securities and Exchange Commission.

Section 8.  Application of Bond Proceeds.  The proceeds of the Series 2022 Bonds  shall be applied in the manner required in the Second Supplemental Indenture.
Section 9.   Further Official Action; Ratification of Prior and Subsequent Acts.    The Chairperson, the Secretary and each member of the Board of Supervisors of the District and any other proper official of the District are each hereby authorized and directed to execute and deliver any and all documents and instruments (including, without limitation, any documents required by the Trustee to evidence its rights and obligations with respect to the Series 2022 Bonds, any documents required in connection with implementation of a book-entry system of registration, and investment agreements relating to the investment of the proceeds of the Series 2022 Bonds and any agreements in connection with maintaining the exclusion of interest on the Series 2022 Bonds from gross income of the holders thereof) 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 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. The Secretary or any Assistant Secretary is hereby authorized and 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. The Chairperson or any Designated Member may, among other things, change the date of any document accompanying this
Resolution as an exhibit. Execution by the Chairperson or a Designated Member of such document shall be deemed to be conclusive evidence of approval of such change of date. All of the acts and doings of such members of the Board, the officers of the District, and the agents and employees of the District, which are in conformity with the intent and purposes of this Resolution, whether heretofore or hereafter taken or done, shall be and are hereby ratified, confirmed and approved.

Section 10. 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 12. 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.

Section 13.   Ratification of Prior Acts.   All actions previously taken by or on behalf  of the District in connection with the issuance of the Series 2022 Bonds are hereby authorized, ratified and confirmed.
Section 14. Public Meetings. It is hereby  found  and  determined  that  all  formal actions of the District concerning and relating to the adoption of this Resolution and the consummation of the transactions contemplated by this Resolution were adopted in open meetings of the District, and that all deliberations of the District that resulted in such formal action were in meetings open to the public, in compliance with all legal requirements.

Section 15. Effective Date. This Resolution shall take effect immediately upon its adoption.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK – SIGNATURE PAGE
FOLLOWS]
PASSED in Public Session of the Board of Supervisors of North Powerline Road Community Development District, this 23rd day of February, 2022.

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

Attest:

Secretary,	Chairperson, Board of Supervisors
Board of Supervisors

SCHEDULE I DESCRIPTION OF SERIES 2022 PROJECT
The Series 2022 Project includes but is not limited to, the following improvements identified for Phases 3 and 4:

Infrastructure(12)	Phase 1
(295 Lots) 2020‐2023	Phase 2
(272 Lots) 2020‐2023	Phase 3
(162 Lots) 2021‐2023	Phase 4
(308 Lots) 2022‐2023	Phase 5
(532 Lots) 2022‐2023	Phase 6
(256 Lots) 2022‐2023	Powerline Road Extension	
Total (1825 Lots)	
Offsite
Improvements(1)(5)(7)(11)	$1,150,467	$1,060,770	$ 819,867	$1,297,418	$ 2,248,295	$1,098,791	-	$ 7,675,609	
Stormwater
Management(1)(2)(3)(5)(6)(7)	1,936,035	1,785,089	1,379,692	2,183,327	3,783,485	1,849,071	$1,500,000	14,416,699	
Utilities (Water, Sewer, &
Street Lighting) (1)(5)(7)(9)(11)	1,765,823	1,628,148	1,258,392	1,991,374	3,450,849	1,686,505	500,000	12,281,092	
Roadway (1)(4)(5)(7)	878,980	1,897,225	603,766	955,444	1,655,688	809,171	7,900,000	14,700,274	
Entry Feature (1)(7)(8)(11)	109,348	100,823	66,803	105,713	183,191	89,529	-	655,407	
Parks and Amenities (1)(7)(11)	459,264	423,456	280,571	443,996	769,400	376,023	-	2,752,710	
Contingency(11)	692,425	638,440	440,909	697,728	1,209,092	590,910	100,000	4,369,504	
TOTAL	$6,992,342	$7,533,951	$4,850,000	$7,675,000	$13,300,000	$6,500,000	$10,000,000	$56,851,293	

Notes:
Infrastructure consists of public roadway improvements, Stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and public neighborhood parks, all of which will be located on land owned by or subject to a permanent easement in favor of the District or another governmental entity.
Excludes grading of each lot in conjunction with lot development and home construction, which will be provided by home builder.
Includes Stormwater pond excavation. Does not include the cost of transportation of fill for use of private lots.
Includes sub‐grade, base, asphalt paving, curbing, and civil/site engineering.
Includes subdivision infrastructure and civil/site engineering.
Stormwater does not include grading associated with building pads.
Estimates are based on 2022 cost.
Includes entry features, signage, hardscape, landscape, irrigation and fencing.
CDD will enter into a Lighting Agreement with Duke Energy for the street light poles and lighting service. Includes only the incremental cost of undergrounding.
Estimates based on 1825 lots.
The costs associated with the infrastructure are a master cost and is effectively shared by the entire project (All phases).
Phasing and cost figures provided herein relate to the existing District.

Source:	North Powerline Road Community Development District Engineer's Report for Capital Improvements Third Amended and Restated dated February 2022, prepared by Absolute Engineering,
Inc.

Schedule I
EXHIBIT A

FORM OF SECOND SUPPLEMENTAL TRUST INDENTURE

A-1

SECOND SUPPLEMENTAL TRUST INDENTURE

between

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT (POLK COUNTY, FLORIDA)

and

U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION (successor to U.S. Bank National Association)

as Trustee

Dated as of March 1, 2022

Authorizing and Securing
$ 	
NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS, SERIES 2022
TABLE OF CONTENTS

ARTICLE I DEFINITIONS

ARTICLE II
THE SERIES 2022 BONDS

SECTION 2.01.	Amounts and Terms of Series 2022 Bonds; Issue of Series 2022

Page
Bonds	11
SECTION 2.02.	Execution	11
SECTION 2.03.	Authentication	11
SECTION 2.04.	Purpose, Designation and Denominations of, and Interest Accruals
on, the Series 2022 Bonds	11
SECTION 2.05.	Debt Service on the Series 2022 Bonds	12
SECTION 2.06.	Disposition of Series 2022 Bond Proceeds	13
SECTION 2.07.	Book-Entry Form of Series 2022 Bonds	13
SECTION 2.08.	Appointment of Registrar and Paying Agent	14
SECTION 2.09.	Conditions Precedent to Issuance of the Series 2022 Bonds	14
ARTICLE III REDEMPTION OF SERIES 2022 BONDS
SECTION 3.01.	Redemption Dates and Prices	16
SECTION 3.02.	Notice of Redemption	18
ARTICLE IV
ESTABLISHMENT OF CERTAIN FUNDS AND ACCOUNTS; ADDITIONAL COVENANTS OF THE ISSUER; PREPAYMENTS; REMOVAL OF SERIES 2022 SPECIAL ASSESSMENT LIENS
SECTION 4.01.	Establishment of Certain Funds and Accounts	20
SECTION 4.02.	Series 2022 Revenue Account	24
SECTION 4.03.	Power to Issue Series 2022 Bonds and Create Lien	24
SECTION 4.04.	Series 2022 Project to Conform to Engineer's Report	25
SECTION 4.05.	Prepayments; Removal of Series 2022 Special Assessment Liens	25
ARTICLE V
COVENANTS AND DESIGNATIONS OF THE ISSUER
SECTION 5.01.	Collection of Series 2022 Special Assessments	27
SECTION 5.02.	Continuing Disclosure	27
SECTION 5.03.	Investment of Funds and Accounts	27
SECTION 5.04.	Additional Bonds	27
SECTION 5.05.	Requisite Owners for Direction or Consent	28
SECTION 5.06.	Acknowledgement Regarding the Moneys in the Series 2022 Acquisition and Construction Account Following an Event of
Default	28
ARTICLE VI
THE TRUSTEE; THE PAYING AGENT AND REGISTRAR
SECTION 6.01.	Acceptance of Trust	29
SECTION 6.02.	Trustee's Duties	29
ARTICLE VII MISCELLANEOUS PROVISIONS
SECTION 7.01.	Interpretation of Second Supplemental Trust Indenture	30
SECTION 7.02.	Amendments	30
SECTION 7.03.	Counterparts	30
SECTION 7.04.	Appendices and Exhibits	30
SECTION 7.05.	Payment Dates	30
SECTION 7.06.	No Rights Conferred on Others	30
EXHIBIT A DESCRIPTION OF SERIES 2022 PROJECT EXHIBIT B FORM OF SERIES 2022 BOND
EXHIBIT C FORMS OF REQUISITIONS EXHIBIT D FORM OF INVESTOR LETTER
THIS SECOND SUPPLEMENTAL TRUST INDENTURE (the "Second Supplemental Trust Indenture"), dated as of March 1, 2022 between the NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT (together with its successors and assigns, the "Issuer" or the "District"), a local unit of special-purpose government organized and existing under the laws of the State of Florida, and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION (successor to U.S. Bank National Association), a national banking association duly organized and existing under the laws of the United States of America and having a designated corporate trust office in Orlando, Florida, as trustee (said national banking association and any bank or trust company becoming successor trustee under this Second Supplemental Trust Indenture being hereinafter referred to as the "Trustee");

W I T N E S S E T H:
WHEREAS, the Issuer is a local unit of special purpose government duly organized and existing under the provisions of the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the "Act") created pursuant to Ordinance No. 18-036 enacted by the Board of County Commissioners of Polk County, Florida (the "County") on June 5, 2018, as amended by Ordinance Nos. 20-028, 20-046 and 22-001, enacted by the Board of
County Commissioners of the County on June 16, 2020, December 2, 2020 and January 4, 2022, respectively, and approved and consented to by the City Commission of the City of Davenport, Florida pursuant to Resolution Nos. 387-18, 456-20 and 474-21, adopted on March 19, 2018,
November 16, 2020 and December 6, 2021, for the purposes of delivering community development services and facilities to property to be served by the District (as defined below); and
WHEREAS, the premises governed by the Issuer (as further described in Exhibit A to the Master Indenture (as defined herein) currently consists of approximately 271.64 gross acres of land (the "District Lands") located partially within unincorporated Polk County (the "County") and partially within the City; and
WHEREAS, the Issuer has been created for the purpose of delivering certain community development services and facilities for the benefit of the District Lands; and
WHEREAS, the Issuer has determined to undertake, in one or more phases, the acquisition and/or construction of public infrastructure improvements and community facilities for the special benefit of the District Lands, as described in the Engineer's Report for Capital Improvements Third Amended and Restated dated February 2022, prepared by Absolute Engineering, Inc. and summarized in Exhibit A attached hereto; and

WHEREAS, the Issuer had previously adopted Resolution No. 2018-25 on July 18, 2018 (the "Original Bond Resolution"), as amended by Resolution No. 2021-23 (the "Amending Bond Resolution" and together with the Original Bond Resolution, the "Bond Resolution") increasing the maximum aggregate principal amount of its Special Assessment Bonds from $22,000,000 to
$62,000,000 (the "Bonds") to finance all or a portion of the planning, design, acquisition and construction costs of the Project pursuant to the Act for the special benefit of the District Lands or portions thereof and approving the form of and authorizing the execution and delivery of the Master Indenture; and
WHEREAS, pursuant to the Original Bond Resolution and Resolution Nos. 2020-02 and 2021-01 adopted by the Board on February 5, 2020 and October 7, 2020, respectively, the District issued its $12,685,000 aggregate principal amount of North Powerline Community Development District Special Assessment Bonds, Series 2020, pursuant to the Master Trust Indenture (the "Master Indenture"), as amended and supplemented from time to time, in particular as supplemented by the First Supplemental Trust Indenture each dated as of December 1, 2020, each by and between the District and Trustee, the proceeds of which were used to provide funds for the payment of a portion of the costs of the Project known as Phases 1 and 2 (as presented in Schedule "I" of the Original Bond Resolution); and

WHEREAS, the District has determined to undertake the development of the public infrastructure necessary for the development of "Phase 3" comprised of 162 residential units and "Phase 4" comprised of 308 residential units within the District (the "Series 2022 Project"); and

WHEREAS, the Issuer has determined to issue a second Series of Bonds, designated as the North Powerline Road Community Development District Special Assessment Bonds, Series 2022 (the "Series 2022 Bonds"), pursuant to that certain Master Indenture and this Second Supplemental Trust Indenture (hereinafter sometimes collectively referred to as the "Series 2022 Indenture"); and

WHEREAS, in the manner provided herein, the net proceeds of the Series 2022 Bonds will be used for the purposes of (i) providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2022 Project, (ii) funding a deposit to the Series 2022 Reserve Account in the amount of the Series 2022 Reserve Requirement, (iii) paying a portion of the interest coming due on the Series 2022 Bonds, and (iv) paying the costs of issuance of the Series 2022 Bonds; and
WHEREAS, the Series 2022 Bonds will be secured by a pledge of Series 2022 Pledged Revenues (as herein defined) to the extent provided herein.
NOW, THEREFORE, THIS SECOND SUPPLEMENTAL TRUST INDENTURE
WITNESSETH, that to provide for the issuance of the Series 2022 Bonds, the security and payment of the principal or redemption price thereof (as the case may be) and interest thereon, the rights of the Bondholders and the performance and observance of all of the covenants contained herein and in said Series 2022 Bonds, and for and in consideration of the mutual covenants herein contained and of the purchase and acceptance of the Series 2022 Bonds by the Holders thereof, from time to time, and of the acceptance by the Trustee of the trusts hereby created, and intending to be legally bound hereby, the Issuer does hereby assign, transfer, set over and pledge to U.S. Bank Trust Company, National Association (successor to U.S. Bank National Association), as Trustee, its successors in trust and its assigns forever, and grants a lien on all of the right, title and interest of the Issuer in and to the Series 2022 Pledged Revenues as security for the payment of the principal, redemption or purchase price of (as the case may be) and interest on the Series 2022 Bonds issued hereunder, all in the manner hereinafter provided, and the Issuer further hereby agrees with and covenants unto the Trustee as follows:

TO HAVE AND TO HOLD the same and, to the extent the same may be lawfully granted, any other revenues, property, contracts or contract rights, accounts receivable, chattel paper,
instruments, general intangibles or other rights and the proceeds thereof, which may, by delivery, assignment or otherwise, be subject to the lien created by the Series 2022 Indenture with respect to the Series 2022 Bonds.
IN TRUST NEVERTHELESS, for the equal and ratable benefit and security of all present and future Holders of the Series 2022 Bonds issued and to be issued under this Second Supplemental Trust Indenture, without preference, priority or distinction as to lien or otherwise (except as otherwise specifically provided in this Second Supplemental Trust Indenture) of any one Series 2022 Bond over any other Series 2022 Bond, all as provided in the Series 2022 Indenture.
PROVIDED, HOWEVER, that if the Issuer, its successors or assigns, shall well and truly pay, or cause to be paid, or make due provision for the payment of the principal or redemption price of the Series 2022 Bonds issued, secured and Outstanding hereunder and the interest due or to become due thereon, at the times and in the manner mentioned in such Series 2022 Bonds and the Series 2022 Indenture, according to the true intent and meaning thereof and hereof, and the Issuer shall well and truly keep, perform and observe all the covenants and conditions pursuant to the terms of the Series 2022 Indenture to be kept, performed and observed by it, and shall pay or cause to be paid to the Trustee all sums of money due or to become due to it in accordance with the terms and provisions hereof, then upon such final payments this Second Supplemental Trust Indenture and the rights hereby granted shall cease and terminate, otherwise this Second Supplemental Trust Indenture to be and remain in full force and effect.

ARTICLE I DEFINITIONS

In this Second Supplemental Trust Indenture capitalized terms used without definition shall have the meanings ascribed thereto in the Master Indenture and, in addition to certain terms defined in the recitals above, the following terms shall have the meanings specified below, unless otherwise expressly provided or unless the context otherwise requires:

"Acquisition Agreements" shall mean the certain Agreements by and between the District and each of the Series 2022 Landowners, respectively, regarding the acquisition of certain work product, improvements, and/or real property dated 	 , 2022.
"Arbitrage Certificate" shall mean that certain Arbitrage Certificate, including arbitrage rebate covenants, of the Issuer, dated 	 , 2022, relating to certain restrictions on arbitrage under the Code with respect to the Series 2022 Bonds.

"Assessment Resolutions" shall mean Resolution Nos. 2018-23, 2018-24, 2018-32, 2020-
04, 2020-05, and 2020-08, 2022-01, 2022-02, 2022-04 and 2022-     of the Issuer adopted on July
18, 2018, July 18, 2018, September 19, 2018, February 5, 2020, February 5, 2020, March 11, 2020,
January 19, 2022, January 19, 2022, February 23, 2022 and 	 , 2022, respectively, as amended and supplemented from time to time.
"Authorized Denomination" shall mean, with respect to the Series 2022 Bonds, on the date of issuance in the denominations of $5,000 and any integral multiple thereof provided, however,
if any initial Beneficial Owner (as defined in the Master Indenture) does not purchase at least
$100,000 of the Series 2022 Bonds at the time of initial delivery of the Series 2022 Bonds, such Beneficial Owner must either execute and deliver to the Issuer and the Underwriter on the date of delivery of the Series 2022 Bonds the investor letter in the form attached hereto as Exhibit D or otherwise establish to the satisfaction of the Underwriter that such Beneficial Owner is an "accredited investor," as described in Rule 501(a) under Regulation D of the Securities Act of 1933, as amended.
"CH Dev" shall mean CH Dev LLC, a Florida limited liability company, and its successors and assigns, and initial landowner of Phase 4.
"Collateral Assignments" shall mean the agreements wherein certain rights and material documents necessary to complete the development planned by each of the Series 2022 Landowners, respectively on the District Lands are collaterally assigned to the District as security for each of the Series 2022 Landowners' obligation to pay the Series 2022 Special Assessments imposed against such lands which are within the Series 2022 Assessment Area subject to the Series 2022 Special Assessments and owned by each of the Series 2022 Landowners, respectively, from time to time.

"Completion Agreements" shall mean the Agreements between the District and each of the Series 2022 Landowners regarding the completion of certain improvements dated 	 , 2022.

"Continuing Disclosure Agreement" shall mean the Continuing Disclosure Agreement for the benefit of the Beneficial Owners of the Series 2022  Bonds, dated 	 , 2022 by and among the Issuer, the dissemination agent named therein and the Series 2022 Landowners, in connection with the issuance of the Series 2022 Bonds.
"Declaration of Consents" shall mean those certain instruments executed by the Series 2022 Landowners, respectively, declaring consent to the jurisdiction of the District and the imposition of the Series 2022 Special Assessments.

"District Lands" shall mean the approximately 271.64 gross acres of land located within the County and partially within the City, including Phases 3 and 4.

"District Manager" shall mean Governmental Management Services – Central Florida, LLC, and its successors and assigns.

"Electronic Means" shall mean telecopy, facsimile transmission, email transmission or other similar electronic means of communicating providing evidence of transmission.

"Engineer's Report" shall mean the Engineer's Report for Capital Improvements Third Amended and Restated dated February 2022, prepared by Absolute Engineering, Inc.

"GLK" shall mean GLK Real Estate, LLC, a Florida limited liability company, and its successors and assigns, and initial landowner of Phase 3.
"Government Obligations" shall mean direct obligations of, or obligations the timely payment of principal of and interest on which are unconditionally guaranteed by, the United States of America.
"Interest Payment Date" shall mean May 1 and November 1 of each year, commencing November 1, 2022.
"Investment Securities" shall mean and include any of the following securities, if and to the extent that such securities are legal investments for funds of the Issuer:
Government Obligations;

money market deposit accounts, time deposits, and certificates of deposits issued by commercial banks, savings and loan associations or mutual savings banks whose short-term obligations are rated, at the time of purchase, in one of the two highest rating categories, without regard to gradation, by Moody's and S&P;

commercial paper (having maturities of not more than 270 days) rated, at the time of purchase, in one of the two highest rating categories, without regard to gradation, by Moody's and S&P;

obligations of any state of the United States or political subdivision thereof or constituted authority thereof the interest on which is exempt from federal income taxation under Section 103 of the Code and rated in one of the top two rating categories by both Moody's and S&P at the time of purchase;
both (A) shares of a diversified open-end management investment company (as defined in the Investment Company Act of 1940) or a regulated investment company (as defined in Section 851(a) of the Code) that is a money market fund that is rated in the highest rating category for such funds by both Moody's and S&P, and (B) shares of money market mutual funds that invest only in Government Obligations and repurchase agreements secured by such obligations, which funds are rated in the highest categories for such funds by both Moody's and S&P at the time of purchase;

bonds, notes and other debt obligations of any corporation organized under the laws of the United States, any state or organized territory of the United States or the District of Columbia, if such obligations are rated in one of the three highest ratings by both Moody's and S&P or in one of the two highest categories by either S&P or Moody's at the time of purchase; and

the Local Government Surplus Funds Trust Fund as described in Florida Statutes, Section 218.405 or the corresponding provisions of subsequent laws provided that such fund, at the time of purchase, is rated at least "AA" by S&P (without regard to gradation) or at least "Aa" by Moody's (without regard to gradation).

Under all circumstances, the Trustee shall be entitled to request and receive from the Issuer and conclusively rely upon as accurate an Officer's Certificate setting forth that any investment directed by the Issuer is permitted under this Indenture and is a legal investment for the funds of the Issuer under Florida law.
"Majority Holders" means the Beneficial Owners of more than fifty percent (50%) in aggregate principal amount of the Outstanding Series 2022 Bonds.

"Master Indenture" shall mean the Master Trust Indenture, dated as of December 1, 2020, by and between the Issuer and the Trustee, as supplemented and amended with respect to matters pertaining solely to the Master Indenture or the Series 2022 Bonds (as opposed to supplements or amendments relating to any Series of Bonds other than the Series 2022 Bonds as specifically defined in this Second Supplemental Trust Indenture).

"Paying Agent" shall mean U.S. Bank Trust Company, National Association, and its successors and assigns as Paying Agent hereunder.
"Phase 3" means approximately [ ] acres of District Lands planned for 162 residential units in the development known as "Deer Run" owned by GLK.
"Phase 3 Acquisition and Construction Account" shall mean the Account so designated, established as a separate Account within the Acquisition and Construction Fund pursuant to Section 4.01(a) of this Second Supplemental Trust Indenture in connection with components of the Series 2022 Project related to Phase 3.
"Phase 4" means approximately [ ] acres of District Lands planned for 308 residential units in the development known as "Horse Creek" owned by CH Dev.
"Phase 4 Acquisition and Construction Account" shall mean the Account so designated, established as a separate Account within the Acquisition and Construction Fund pursuant to Section 4.01(a) of this Second Supplemental Trust Indenture in connection with components of the Series 2022 Project related to Phase 4.
"Prepayment" shall mean the payment by any owner of property of the amount of Series 2022 Special Assessments encumbering its property, in whole or in part, prior to its scheduled due date, including optional prepayments. The term "Prepayment" also means any proceeds received as a result of accelerating and/or foreclosing the Series 2022 Special Assessments. "Prepayments" shall include, without limitation, Series 2022 Prepayment Principal.

"Project" shall mean all of the public infrastructure deemed necessary for the development of the District including, but not limited to, the Series 2022 Project.

"Quarterly Redemption Date" shall mean each February 1, May 1, August 1, and November 1 of any calendar year.

"Redemption Price" shall mean the principal amount of any Series 2022 Bond plus the applicable premium, if any payable upon redemption thereof pursuant to this Second Supplemental Trust Indenture.
"Registrar" shall mean U.S. Bank Trust Company, National Association and its successors and assigns as Registrar hereunder.
"Regular Record Date" shall mean the fifteenth day (whether or not a Business Day) of the calendar month next preceding each Interest Payment Date or the date on which the principal of the Series 2022 Bonds are to be paid.
"Reserve Release Conditions #1" shall mean collectively (i) all lots in the Series 2022 Assessment Area have been sold and closed to homebuilders, as certified by the District Manager in writing and upon which the Trustee may conclusively rely, and (ii) there shall be no Events of Default under the Series 2022 Indenture with respect to the Series 2022 Bonds, as certified by the District Manager.

"Reserve Release Conditions #2" shall mean collectively (i) satisfaction of Reserve Release Conditions #1 and (ii) all homes within the Series 2022 Assessment Area have been built, sold and closed with end-users.
"Resolution" shall mean, collectively, (i) Resolution No. 2018-25 of the Issuer adopted on July 18, 2018, pursuant to which the Issuer authorized the issuance of not exceeding $22,000,000 aggregate principal amount of its Bonds to finance the construction or acquisition of the Series 2022 Project, and (ii) Resolution No. 2022-06 of the Issuer adopted on February 23, 2022 and pursuant to which the Issuer authorized, among other things, the issuance of the Series 2022 Bonds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2022 Project, specifying the details of the Series 2022 Bonds and awarding the Series 2022 Bonds to the purchasers of the Series 2022 Bonds.

"Series 2022 Acquisition and Construction Accounts" shall mean the Phase 3 Acquisition and Construction Account and the Phase 4 Acquisition and Construction Account established as separate Accounts within the Acquisition and Construction Fund pursuant to Section 4.01(a) of this Second Supplemental Trust Indenture.
"Series 2022 Assessment Area" shall mean the [ ] acres of land within the District which constitutes all of the assessable land therein, currently planned for 162 residential units comprising Phase 3 and 308 residential units comprising Phase 4, and the recreation areas, parks, and related infrastructure, of the residential community, the recreation areas, parks and related infrastructure.
"Series 2022 Bond Redemption Account" shall mean the Account so designated, established as a separate Account within the Bond Redemption Fund pursuant to Section 4.01(g) of this Second Supplemental Trust Indenture.

"Series  2022  Bonds"  shall  mean the $ 	aggregate principal amount of North
Powerline Road Community Development District Special Assessment Bonds, Series 2022, to be issued as fully registered Bonds in accordance with the provisions of the Master Indenture and this Second Supplemental Trust Indenture, and secured and authorized by the Master Indenture and this Second Supplemental Trust Indenture.
"Series 2022 Costs of Issuance Account" shall mean the Account so designated, established as a separate Account within the Acquisition and Construction Fund pursuant to Section 4.01(a) of this Second Supplemental Trust Indenture.
"Series 2022 General Redemption Subaccount" shall mean the subaccount so designated, established as a separate subaccount under the Series 2022 Bond Redemption Account pursuant to Section 4.01(g) of this Second Supplemental Trust Indenture.
"Series 2022 Indenture" shall mean collectively, the Master Indenture and this Second Supplemental Trust Indenture.
"Series 2022 Interest Account" shall mean the Account so designated, established as a separate Account within the Debt Service Fund pursuant to Section 4.01(d) of this Second Supplemental Trust Indenture.

"Series 2022 Landowners" shall mean collectively GLK and CH Dev.
"Series 2022 Optional Redemption Subaccount" shall mean the subaccount so designated, established as a separate subaccount under the Series 2022 Bond Redemption Account pursuant to Section 4.01(g) of this Second Supplemental Trust Indenture.

"Series 2022 Pledged Revenues" shall mean with respect to the Series 2022 Bonds (a) all revenues received by the Issuer from Series 2022 Special Assessments levied and collected on the assessable lands within the Series 2022 Assessment Area, benefitted by the Series 2022 Project, including, without limitation, amounts received from any foreclosure proceeding for the enforcement of collection of such Series 2022 Special Assessments or from the issuance and sale of tax certificates with respect to such Series 2022 Special Assessments, and (b) all moneys on deposit in the Funds and Accounts established under the Series 2022 Indenture created and established with respect to or for the benefit of the Series 2022 Bonds; provided, however, that Series 2022 Pledged Revenues shall not include (A) any moneys transferred to the Series 2022 Rebate Fund and investment earnings thereon, (B) moneys on deposit in the Series 2022 Costs of Issuance Account of the Acquisition and Construction Fund, and (C) "special assessments" levied and collected by the Issuer under Section 190.022 of the Act for maintenance purposes or "maintenance assessments" levied and collected by the Issuer under Section 190.021(3) of the Act (it being expressly understood that the lien and pledge of the Series 2022 Indenture shall not apply to any of the moneys described in the foregoing clauses (A), (B) and (C) of this proviso).

"Series 2022 Prepayment Principal" shall mean the portion of a Prepayment corresponding to the principal amount of Series 2022 Special Assessments being prepaid pursuant to Section 4.05 of this Second Supplemental Trust Indenture or Series 2022 Special Assessments collected as a result of an acceleration of the Series 2022 Special Assessments pursuant to Section 170.10, Florida Statutes, if such Series 2022 Special Assessments are being collected through a direct billing method.
"Series 2022 Prepayment Subaccount" shall mean the subaccount so designated, established as a separate subaccount under the Series 2022 Bond Redemption Account pursuant to Section 4.01(g) of this Second Supplemental Trust Indenture.

"Series 2022 Project" shall mean the public infrastructure described in Exhibit A attached hereto benefitting the Series 2022 Assessment Area and referred to herein as Phase 3 and Phase 4.
"Series 2022 Rebate Account" shall mean the Account so designated, established as a separate Account within the Rebate Fund pursuant to Section 4.01(j) of this Second Supplemental Trust Indenture.
"Series 2022 Reserve Account" shall mean the Account so designated, established as a separate Account within the Reserve Fund pursuant to Section 4.01(f) of this Second Supplemental Trust Indenture.

"Series 2022 Reserve Requirement" or "Reserve Requirement" shall be (i) initially, an amount equal to the maximum annual debt service on the Series 2022 Bonds as calculated from time to time; (ii) upon the occurrence of the Reserve Release Conditions #1, fifty percent (50%) of the maximum annual debt service on the Series 2022 Bonds as calculated from time to time; and (iii) upon the occurrence of the Reserve Release Conditions #2, ten percent (10%) of the maximum annual debt service on the Series 2022 Bonds as calculated from time to time. Upon satisfaction of the Reserve Release Conditions #1 or Reserve Release Conditions #2, as applicable, such excess amount shall be released from the Series 2022 Reserve Account and transferred to either or both of the respective Series 2022 Acquisition and Construction Accounts in accordance with the provisions of Sections 4.01(a) and 4.01(f) hereof. For the purpose of calculating the Series 2022 Reserve Requirement, maximum annual debt service, fifty percent (50%) of maximum annual debt service, or ten percent (10%) of maximum annual debt service, as the case may be, shall be recalculated in connection with the extraordinary mandatory redemption described in Sections 3.01(b)(i), 3.01(b)(iii) and 3.01(b)(iv) hereof (but not upon the optional or mandatory sinking fund redemption thereof) and such excess amount shall be released from the Series 2022 Reserve Account and, other than as provided in the immediately preceding sentence, transferred to the Series 2022 General Redemption Subaccount or the Series 2022 Prepayment Subaccount as applicable, in accordance with the provisions of Sections 3.01(b)(i), 3.01(b)(iii), 3.01(b)(iv), 4.01(f), 4.01(i) and 4.05(a) hereof. Amounts on deposit in the Series 2022 Reserve Account may, upon final maturity or redemption of all Outstanding Series 2022 Bonds be used to pay principal of and interest on the Series 2022 Bonds at that time. Initially, the Series 2022 Reserve Requirement shall be equal to $ 	.

"Series 2022 Revenue Account" shall mean the Account so designated, established as a separate Account within the Revenue Fund pursuant to Section 4.01(b) of this Second Supplemental Trust Indenture.
"Series 2022 Sinking Fund Account" shall mean the Account so designated, established as a separate Account within the Debt Service Fund pursuant to Section 4.01(e) of this Second Supplemental Trust Indenture.

"Series 2022 Special Assessments" shall mean a portion of the Special Assessments levied on the assessable lands within the Series 2022 Assessment Area as a result of the Issuer's acquisition and/or construction of the Series 2022 Project, corresponding in amount to the debt service on the Series 2022 Bonds and designated as such in the methodology report relating thereto.

"Substantially Absorbed" means the date at least 90% of the principal portion of the Series 2022 Special Assessments have been assigned to residential units within the Series 2022 Assessment Area that have received certificates of occupancy.   The District shall present the
Trustee with a certification that the Series 2022 Special Assessments are Substantially Absorbed and the Trustee may rely conclusively upon such certification and shall have no duty to verify if the Series 2022 Special Assessments are Substantially Absorbed.
"True-Up Agreements" shall mean each of the Agreements dated 	, 2022, by and between the Issuer and each of the Series 2022 Landowners, respectively, relating to the true-up of Series 2022 Special Assessments.

"Underwriter" shall mean FMSbonds, Inc., the underwriter of the Series 2022 Bonds.
The words "hereof," "herein," "hereto," "hereby," and "hereunder" (except in the form of Series 2022 Bonds), refer to the entire Series 2022 Indenture.
Every "request," "requisition," "order," "demand," "application," "notice," "statement," "certificate," "consent," or similar action hereunder by the Issuer shall, unless the form or execution thereof is otherwise specifically provided, be in writing signed by the Chairperson or Vice Chairperson and the Treasurer or Assistant Treasurer or the Secretary or Assistant Secretary or Responsible Officer of the Issuer.

All words and terms importing the singular number shall, where the context requires, import the plural number and vice versa.

[END OF ARTICLE I]
ARTICLE II
THE SERIES 2022 BONDS

SECTION 2.01. Amounts and Terms of Series 2022 Bonds; Issue of  Series  2022 Bonds. No Series 2022 Bonds may be issued under this Second Supplemental Trust Indenture except in accordance with the provisions of this Article and Articles II and III of the Master Indenture.

The total principal amount of Series 2022 Bonds that may be issued under this Second Supplemental Trust Indenture is expressly limited to $ 	. The Series 2022 Bonds shall be numbered consecutively from R-1 and upwards.
Any and all Series 2022 Bonds shall be issued substantially in the form attached hereto as Exhibit B, with such appropriate variations, omissions and insertions as are permitted or required by the Series 2022 Indenture and with such additional changes as may be necessary or appropriate to conform to the provisions of the Resolution. The Issuer shall issue the Series 2022 Bonds upon execution of this Second Supplemental Trust Indenture and satisfaction of the requirements of Section 3.01 of the Master Indenture; and the Trustee shall, at the Issuer's request, authenticate such Series 2022 Bonds and deliver them as specified in the request.

SECTION 2.02. Execution. The Series 2022 Bonds shall be executed by the Issuer as  set forth in the Master Indenture.

SECTION 2.03. Authentication. The Series 2022 Bonds shall be authenticated as set forth in the Master Indenture. No Series 2022 Bond shall be valid until the certificate of authentication shall have been duly executed by the Trustee, as provided in the Master Indenture.
SECTION 2.04. Purpose, Designation and Denominations of, and Interest Accruals on, the Series 2022 Bonds.
The Series 2022 Bonds are being issued hereunder in order to provide funds for the purposes of (i) providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2022 Project, (ii) funding a deposit to the Series 2022 Reserve Account in the amount of the Series 2022 Reserve Requirement,
(iii) paying a portion of the interest coming due on the Series 2022 Bonds and (iv) paying the costs of issuance of the Series 2022 Bonds. The Series 2022 Bonds shall be designated "North Powerline Road Community Development District Special Assessment Bonds, Series 2022," and shall be issued as fully registered Bonds without coupons in Authorized Denominations.
The Series 2022 Bonds shall be dated as of the date of initial delivery. Interest on the Series 2022 Bonds shall be payable on each Interest Payment Date to maturity or prior redemption. Interest on the Series 2022 Bonds shall be payable from the most recent Interest Payment Date next preceding the date of authentication thereof to which interest has been paid, unless the date of authentication thereof is a May 1 or November 1 to which interest has been paid, in which case from such date of authentication, or unless the date of authentication thereof is prior to May 1, 20 , in which case from the date of initial delivery or unless the date of authentication thereof is between a Record Date and the next succeeding Interest Payment Date, in which case from such Interest Payment Date.
Except as otherwise provided in Section 2.07 of this Second Supplemental Trust Indenture in connection with a book entry only system of registration of the Series 2022 Bonds, the principal or Redemption Price of the Series 2022 Bonds shall be payable in lawful money of the United States of America at the designated corporate trust office of the Paying Agent upon presentation of such Series 2022 Bonds. Except as otherwise provided in Section 2.07 of this Second Supplemental Trust Indenture in connection with a book entry only system of registration of the Series 2022 Bonds, the payment of interest on the Series 2022 Bonds shall be made on each Interest Payment Date to the Registered Owners of the Series 2022 Bonds by check or draft drawn on the Paying Agent and mailed on the applicable Interest Payment Date to each Registered Owner as such Registered Owner appears on the Bond Register maintained by the Registrar as of the close of business on the Regular Record Date, at his address as it appears on the Bond Register. Any interest on any Series 2022 Bond which is payable, but is not punctually paid or provided for on any Interest Payment Date (hereinafter called "Defaulted Interest") shall be paid to the Registered Owner in whose name the Series 2022 Bond is registered at the close of business on a Special Record Date to be fixed by the Trustee, such date to be not more than fifteen (15) nor less than ten
(10) days prior to the date of proposed payment. The Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be sent by Electronic Means or mailed, first-class, postage-prepaid, to each Registered Owner of record as of the fifth (5th) day prior to such mailing, at his address as it appears in the Bond Register not less than ten
days prior to such Special Record Date. The foregoing notwithstanding, any Registered Owner of Series 2022 Bonds in an aggregate principal amount of at least $1,000,000 shall be entitled to have interest paid by wire transfer to such Registered Owner to the bank account number on file with the Paying Agent, upon requesting the same in a writing received by the Paying Agent at least fifteen (15) days prior to the relevant Record Date, which writing shall specify the bank, which shall be a bank within the continental United States, and bank account number to which interest payments are to be wired. Any such request for interest payments by wire transfer shall remain in effect until rescinded or changed, in a writing delivered by the Registered Owner to the Paying Agent, and any such rescission or change of wire transfer instructions must be received by the Paying Agent at least fifteen (15) days prior to the relevant Record Date.

SECTION 2.05.	Debt Service on the Series 2022 Bonds.

The Series 2022 Bonds will mature on May 1 in the years and in the principal amounts, and bear interest at the rates all set forth below, subject to the right of prior redemption in accordance with their terms.

Year	Amount	Interest Rate
  
$	%

Interest on the Series 2022 Bonds will be computed in all cases on the basis of a 360 day year of twelve 30 day months. Interest on overdue principal and, to the extent lawful, on overdue interest will be payable at the numerical rate of interest borne by the Series 2022 Bonds on the day before the default occurred.
SECTION 2.06.	Disposition of Series 2022 Bond Proceeds. From the net proceeds of the Series 2022 Bonds received by the Trustee in the amount of $ 	(par amount of $ 	,
[plus/minus  original  issue  premium/discount] of $ 	and  less  underwriter's  discount of
$ 	which is retained by the underwriter of the Series 2022 Bonds):

$ 	, which is an amount equal to the initial Series 2022 Reserve Requirement, shall be deposited in the Series 2022 Reserve Account of the Reserve Fund;

$ 	, shall be deposited into the Series 2022 Interest Account and applied to pay interest coming due on the Series 2022 Bonds through May 1, 20 ;

$ 	, shall be deposited into the Series 2022 Costs of Issuance Account of the Acquisition and Construction Fund for payment of the costs of issuing the Series 2022 Bonds;

$	, shall be deposited to the Series 2022 Acquisition and Construction

Account of the Acquisition and Construction Fund which the Issuer shall cause to be applied only
to the payment of costs of the Series 2022 Project in accordance with Section 4.01(a) hereof, Article V of the Master Indenture and the terms of the Acquisition Agreement.

SECTION 2.07. Book-Entry Form of Series 2022 Bonds. The Series 2022 Bonds shall be issued as one fully registered bond for each maturity of Series 2022 Bonds and deposited with The Depository Trust Company ("DTC"), New York, New York, which is responsible for establishing and maintaining records of ownership for its participants.

As long as the Series 2022 Bonds are held in book-entry-only form, Cede & Co. shall be considered the Registered Owner for all purposes hereof and in the Master Indenture. The Series 2022 Bonds shall not be required to be presented for payment. DTC shall be responsible for maintaining a book-entry-only system for recording the ownership interest of its participants ("DTC Participants") and other institutions that clear through or maintain a custodial relationship with a DTC Participant, either directly or indirectly ("Indirect Participants"). The DTC Participants and Indirect Participants will be responsible for maintaining records with respect to the beneficial ownership interests of individual purchasers of the Series 2022 Bonds ("Beneficial Owners").

Principal and interest on the Series 2022 Bonds registered in the name of Cede & Co. prior to and at maturity shall be payable directly to Cede & Co. in care of DTC. Disbursal of such amounts to DTC Participants shall be the responsibility of DTC. Payments by DTC Participants to Indirect Participants, and by DTC Participants and Indirect Participants to Beneficial Owners shall be the responsibility of DTC Participants and Indirect Participants and not of DTC, the Trustee or the Issuer.
Individuals may purchase beneficial interests in Authorized Denominations in book-entry- only form, without certificated Series 2022 Bonds, through DTC Participants and Indirect Participants.

During the period for which Cede & Co. is Registered Owner of the Series 2022 Bonds, any notices to be provided to any Beneficial Owner will be provided to Cede & Co. DTC shall be responsible for notices to DTC Participants and DTC Participants shall be responsible for notices
to Indirect Participants, and DTC Participants and Indirect Participants shall be responsible for notices to Beneficial Owners.

The Issuer and the Trustee, if appropriate, shall enter into a blanket letter of representations with DTC providing for such book-entry-only system. Such agreement may be terminated at any time by either DTC or the Issuer in accordance with the procedures of DTC. In the event of such termination, the Issuer shall select another securities depository and in that event, all references herein to DTC or Cede & Co., shall be deemed to be for reference to such successor. If the Issuer does not replace DTC, the Trustee will register and deliver to the Beneficial Owners replacement Series 2022 Bonds in the form of fully registered Series 2022 Bonds in accordance with the instructions from Cede & Co.

In the event DTC, any successor of DTC or the Issuer, but only in accordance with the procedures of DTC, elects to discontinue the book-entry only system, the Trustee shall deliver bond certificates in accordance with the instructions from DTC or its successor and after such time Series 2022 Bonds may be exchanged for an equal aggregate principal amount of Series 2022 Bonds in other Authorized Denominations upon surrender thereof at the designated corporate trust office of the Trustee.

SECTION 2.08. Appointment of Registrar and Paying Agent. The Issuer shall keep, at the designated corporate trust office of the Registrar, books (the "Bond Register") for the registration, transfer and exchange of the Series 2022 Bonds, and hereby appoints U.S. Bank Trust Company, National Association, as its Registrar to keep such books and make such registrations, transfers, and exchanges as required hereby. U.S. Bank Trust Company, National Association hereby accepts its appointment as Registrar and its duties and responsibilities as Registrar hereunder. Registrations, transfers and exchanges shall be without charge to the Bondholder requesting such registration, transfer or exchange, but such Bondholder shall pay any taxes or other governmental charges on all registrations, transfers and exchanges.

The Issuer hereby appoints U.S. Bank Trust Company, National Association as Paying Agent for the Series 2022 Bonds. U.S. Bank Trust Company, National Association hereby accepts its appointment as Paying Agent and its duties and responsibilities as Paying Agent hereunder.

SECTION 2.09. Conditions Precedent to Issuance of the Series 2022 Bonds. In addition to complying with the requirements set forth in the Master Indenture in connection with the issuance of the Series 2022 Bonds, all the Series 2022 Bonds shall be executed by the Issuer for delivery to the Trustee and thereupon shall be authenticated by the Trustee and delivered to the Issuer or upon its order, but only upon the further receipt by the Trustee of:

Certified copies of the Assessment Resolutions;

A copy of the executed Master Indenture and an executed copy of this Second Supplemental Trust Indenture;

Customary closing opinions of District Counsel and Bond Counsel;
A certificate of an Authorized Officer to the effect that, upon the authentication and delivery of the Series 2022 Bonds, the Issuer will not be in default in the performance of the terms and provisions of the Master Indenture or this Second Supplemental Trust Indenture;
Copies of executed investor letters in the form attached hereto as Exhibit D if such investor letter is required, as determined by the Underwriter; and
Executed copies of the Arbitrage Certificate, the True-Up Agreements, the Acquisition Agreements, Declaration of Consents, the Completion Agreements, the Continuing Disclosure Agreement and the Collateral Assignments.

Payment to the Trustee of the net proceeds of the Series 2022 Bonds shall be conclusive evidence that the foregoing conditions have been fulfilled to the satisfaction of the Issuer and the Underwriter as the initial purchaser of the Series 2022 Bonds.

[END OF ARTICLE II]
ARTICLE III REDEMPTION OF SERIES 2022 BONDS

SECTION 3.01. Redemption Dates and Prices.  The Series 2022 Bonds shall be subject to redemption at the times and in the manner provided in Article VIII of the Master Indenture and in this Article III. All payments of the Redemption Price of the Series 2022 Bonds shall be made on the dates hereinafter required. Except as otherwise provided in this Section 3.01, if less than all the Series 2022 Bonds of a maturity are to be redeemed pursuant to an extraordinary mandatory redemption, the Trustee shall select the Series 2022 Bonds or portions of the Series 2022 Bonds to be redeemed by lot. Partial redemptions of Series 2022 Bonds shall, to the extent possible, be made in such a manner that the remaining Series 2022 Bonds held by each Bondholder shall be in Authorized Denominations, except for the last remaining Series 2022 Bond.

The Series 2022 Bonds are subject to redemption prior to maturity in the amounts, at the times and in the manner provided below. All payments of the Redemption Price of the Series 2022 Bonds shall be made on the dates specified below. Upon any redemption of Series 2022 Bonds other than in accordance with scheduled mandatory sinking fund redemptions, the Issuer shall cause to be recalculated and delivered to the Trustee revised mandatory sinking fund redemption amounts recalculated so as to amortize the Outstanding principal amount of Series 2022 Bonds in substantially equal annual installments of principal and interest (subject to rounding to Authorized Denominations of principal) over the remaining term of the Series 2022 Bonds. The mandatory sinking fund redemption amounts as so recalculated shall not result in an increase in the aggregate of the mandatory sinking fund redemption amounts for all Series 2022 Bonds in any year. In the event of a redemption or purchase occurring less than forty- five (45) days prior to a date on which a mandatory sinking fund redemption amount is due, the foregoing recalculation shall not be made to the mandatory sinking fund redemption amounts due in the year in which such redemption occurs, but shall be made to the mandatory sinking fund redemption amounts for the immediately succeeding and subsequent years.

Optional Redemption. The Series 2022 Bonds maturing on or after May 1, 20 may, at the option of the Issuer be called for redemption prior to maturity as a whole or in part, at any time, on or after May 1, 20 (less than all Series 2022 Bonds of a maturity to be selected by lot), at a Redemption Price equal to the principal amount of Series 2022 Bonds to be redeemed, plus accrued interest from the most recent Interest Payment Date through which interest has been paid to the redemption date from moneys on deposit in the Series 2022 Optional Redemption Subaccount of the Series 2022 Bond Redemption Account. If such optional redemption shall be in part, the Issuer shall select such principal amount of Series 2022 Bonds to be optionally redeemed from each maturity so that debt service on the remaining Outstanding Series 2022 Bonds is substantially level.

Extraordinary Mandatory Redemption in Whole or in Part. The Series 2022 Bonds are subject to extraordinary mandatory redemption prior to maturity by the Issuer in whole or in part, on any date (other than in the case of clause (i) below, which extraordinary mandatory redemption in part must occur on a Quarterly Redemption Date), at a Redemption Price equal to 100% of the principal amount of the Series 2022 Bonds to be redeemed, plus interest accrued to the redemption date, as follows:
from Series 2022 Prepayment Principal deposited into the Series 2022 Prepayment Subaccount of the Series 2022 Bond Redemption Account following the payment in whole or in part of Series 2022 Special Assessments on any assessable property within the District in accordance with the provisions of Section 4.05(a) of this Second Supplemental Trust Indenture, together with any excess moneys transferred by the Trustee from the Series 2022 Reserve Account to the Series 2022 Prepayment Subaccount as a result of such Prepayment and pursuant to Sections 4.01(f) and 4.05(a) of this Second Supplemental Trust Indenture. If such redemption shall be in part, the Issuer shall select such principal amount of Series 2022 Bonds to be redeemed from each maturity so that debt service on the remaining Outstanding Series 2022 Bonds is substantially level.

from moneys, if any, on deposit in the Funds, Accounts and subaccounts held by the Trustee hereunder (other than the Series 2022 Rebate Fund and the Series 2022 Acquisition and Construction Accounts) sufficient to pay and redeem all Outstanding Series 2022 Bonds and accrued interest thereon to the redemption date or dates in addition to all amounts owed to Persons under the Master Indenture.

upon the Completion Date, from any funds remaining on deposit in the Series 2022 Acquisition and Construction Accounts in accordance with the provisions of Section 4.01(a) hereof, not otherwise reserved to complete the Series 2022 Project and transferred to the Series 2022 General Redemption Subaccount of the Series 2022 Bond Redemption Account, together with moneys on deposit as a result of the recalculation of the Series 2022 Reserve Requirement. If such redemption shall be in part, the Issuer shall select such principal amount of Series 2022 Bonds to be redeemed from each maturity so that debt service on the remaining Outstanding Series 2022 Bonds is substantially level.

Mandatory Sinking Fund Redemption. The Series 2022 Bonds maturing on May 1, 20 are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2022 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption
Amount	Year

$
Mandatory Sinking Fund Redemption Amount

*

* Maturity

The Series 2022 Bonds maturing on May 1, 20 are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2022 Sinking Fund Account on May 1 in the
years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption
Amount	Year

$
Mandatory Sinking Fund Redemption Amount

*

* Maturity

The Series 2022 Bonds maturing on May 1, 20 are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2022 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

 	Year	
Mandatory Sinking Fund Redemption
 	Amount	 	Year	
$

*
Mandatory Sinking Fund Redemption
 	Amount	

* Maturity
The Series 2022 Bonds maturing on May 1, 20 are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2022 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption
Amount	Year

$
Mandatory Sinking Fund Redemption Amount

*

* Maturity
SECTION 3.02. Notice of Redemption. When required to redeem Series 2022 Bonds under any provision of this Second Supplemental Trust Indenture or directed to redeem Series 2022 Bonds by the Issuer, the Trustee shall give or cause to be given to Registered Owners of the
Series 2022 Bonds to be redeemed, notice of the redemption, as set forth in Article VIII of the Master Indenture.

[END OF ARTICLE III]
ARTICLE IV
ESTABLISHMENT OF CERTAIN FUNDS AND ACCOUNTS; ADDITIONAL COVENANTS OF THE ISSUER; PREPAYMENTS; REMOVAL OF SERIES 2022 SPECIAL ASSESSMENT LIENS

SECTION 4.01.	Establishment of Certain Funds and Accounts.
The Trustee shall establish separate accounts within the Acquisition and Construction Fund designated as the "Phase 3 Acquisition and Construction Account" and "Phase 4 Acquisition and Construction Account." Net proceeds of the Series 2022 Bonds shall initially be deposited into the Phase 3 Acquisition and Construction Account in the amounts set forth in Section 2.06 of this Second Supplemental Trust Indenture, together with any moneys subsequently transferred or deposited thereto or to the Phase 4 Acquisition and Construction Account, including moneys transferred from the Series 2022 Reserve Account after satisfaction of either the Reserve Release Conditions #1 or Reserve Release Conditions #2 as certified in writing by the District Manager and upon which the Trustee may conclusively rely, and such moneys shall be applied as set forth in this Section 4.01(a), Section 5.01 of the Master Indenture, the Acquisition Agreement and the Engineer's Report. Funds on deposit in the Phase 3 Acquisition and Construction Account and the Phase 4 Acquisition and Construction Account shall only be requested by the Issuer to be applied to the Costs of the Series 2022 Project, subject to Section 4.01(f) herein. Upon satisfaction of the Reserve Release Conditions #1 and Reserve Release Conditions #2, the amount on deposit in the Series 2022 Reserve Account in excess of the Series 2022 Reserve Requirement, as applicable and as calculated by the District shall then be transferred to the Phase 3 Acquisition and Construction Account and/or the Phase 4 Acquisition and Construction Account, as directed in writing to the Trustee by the District Manager, upon consultation with the Consulting Engineer, and applied as provided in this Section 4.01(a).

In the event the Completion Date for Phase 3 occurs prior to the Completion Date for Phase 4, or vice versa, moneys remaining in the Phase 3 Acquisition and Construction Account after retaining costs to complete Phase 3 portion of the Series 2022 Project shall be transferred to the Phase 4 Acquisition and Construction Account, or moneys remaining in the Phase 4 Acquisition and Construction Account after retaining costs to complete Phase 4 portion of the Series 2022 Project shall be transferred to the Phase 3 Acquisition and Construction Account, as the case may be, as directed in writing to the Trustee by the District Manager, upon consultation with the Consulting Engineer. Following the Completion Date for both Phase 3 and Phase 4 of the Series 2022 Project, all moneys remaining in either or both of the Series 2022 Acquisition and Construction Accounts shall be transferred to the Series 2022 General Redemption Subaccount, as directed in writing by the District Manager, on behalf of the Issuer to the Trustee to be applied as provided in Section 3.01(b)(iii).

The Trustee shall make no such transfers from the respective Series 2022 Acquisition and Construction Accounts to the Series 2022 General Redemption Subaccount if an Event of Default exists with respect to the Series 2022 Bonds of which the Trustee has notice as described in Section
11.06 of the Master Indenture or of which the Trustee has actual knowledge as described in Section
11.06 of the Master Indenture. Except as provided in Section 5.06, Section 3.01(b)(iii) hereof, only upon presentment to the Trustee of a properly signed requisition in substantially the form attached hereto as Exhibit C, shall the Trustee withdraw moneys from the respective Series 2022
Acquisition and Construction Accounts or subaccounts therein. After no funds remain in the respective Series 2022 Acquisition and Construction Accounts, such Accounts shall be closed.

Notwithstanding the foregoing, neither of the Series 2022 Acquisition and Construction Accounts shall be closed until the Reserve Release Conditions #2 shall have occurred and the excess funds from the Series 2022 Reserve Account shall have been transferred to either or both of the Series 2022 Acquisition and Construction Accounts, as directed in writing to the Trustee by the District Manager, and applied in accordance with this Section 4.01(a) and Section 4.01(f) hereof. The Trustee shall not be responsible for determining the amounts in the respective Series 2022 Acquisition and Construction Accounts and subaccounts allocable to the respective components of the Series 2022 Project or any transfers made to such Accounts in accordance with direction from the District Manager.

Pursuant to the Master Indenture, the Trustee shall establish a separate account within the Acquisition and Construction Fund designated as the "Series 2022 Costs of Issuance Account." Net proceeds of the Series 2022 Bonds shall be deposited into the Series 2022 Costs of Issuance Account in the amount set forth in Section 2.06 of this Second Supplemental Trust Indenture. Upon presentment to the Trustee of a properly signed requisition in substantially the form attached hereto as Exhibit C, the Trustee shall withdraw moneys from the Series 2022 Costs of Issuance Account to pay the costs of issuing the Series 2022 Bonds. Six months after the issuance of the Series 2022 Bonds, any moneys remaining in the Series 2022 Costs of Issuance Account in excess of the amounts requested to be disbursed by the Issuer shall be deposited into the Series 2022 Interest Account and the Series 2022 Costs of Issuance Account shall be closed. Any deficiency in the amount allocated to pay the cost of issuing the Series 2022 Bonds shall be paid from excess Series 2022 Pledged Revenues on deposit in the Series 2022 Revenue Account as provided in Section 4.02. After no funds remain therein, the Series 2022 Costs of Issuance Account shall be closed.

Pursuant to Section 6.03 of the Master Indenture, the Trustee shall establish a separate Account within the Revenue Fund designated as the "Series 2022 Revenue Account." Series 2022 Special Assessments (except for Prepayments of Series 2022 Special Assessments which shall be identified as such by the Issuer to the Trustee and deposited in the Series 2022 Prepayment Subaccount) shall be deposited by the Trustee into the Series 2022 Revenue Account which shall be applied as set forth in Section 6.03 of the Master Indenture and Section 4.02 of this Second Supplemental Trust Indenture. The Trustee may conclusively rely that unless expressly indicated in writing by the District as a Prepayment upon deposit thereof with the Trustee, payments of Series 2022 Special Assessments are to be deposited into the Series 2022 Revenue Account.

[RESERVED].

Pursuant to Section 6.04 of the Master Indenture and Section 4.02 of this Second Supplemental Trust Indenture, the Trustee shall establish a separate Account within the Debt Service Fund designated as the "Series 2022 Interest Account." Moneys deposited into the Series 2022 Interest Account pursuant to Section 6.04 of the Master Indenture and Sections 2.06 and 4.02 of this Second Supplemental Trust Indenture, shall be applied for the purposes provided therein and used to pay interest on the Series 2022 Bonds.
Pursuant to Section 6.04 of the Master Indenture, the Trustee shall establish a separate account within the Debt Service Fund designated as the "Series 2022 Sinking Fund Account." Moneys shall be deposited into the Series 2022 Sinking Fund Account as provided in Section 6.04 of the Master Indenture and Section 4.02 of this Second Supplemental Trust Indenture, and applied for the purposes provided therein and in Section 3.01(c) of this Second Supplemental Trust Indenture.

Pursuant to Section 6.05 of the Master Indenture, the Trustee shall establish a separate Account within the Reserve Fund designated as the "Series 2022 Reserve Account." Net proceeds of the Series 2022 Bonds shall be deposited into the Series 2022 Reserve Account in the amount set forth in Section 2.06 of this Second Supplemental Trust Indenture, and such moneys, together with any other moneys deposited into the Series 2022 Reserve Account shall be applied for the purposes provided in the Master Indenture and in this Section 4.01(f) and Section 4.05 of this Second Supplemental Trust Indenture. Notwithstanding any provisions in the Master Indenture to the contrary, the Issuer covenants not to substitute the cash and Investment Securities on deposit in the Series 2022 Reserve Account with a Debt Service Reserve Insurance Policy or a Debt Service Reserve Letter of Credit. Except as provided in the next paragraph, all investment earnings on moneys in the Series 2022 Reserve Account shall remain on deposit therein.

On each March 15 and September 15 (or, if such date is not a Business Day, on the Business Day next preceding such day), the Trustee shall determine the amount on deposit in the Series 2022 Reserve Account and transfer any excess therein above the Series 2022 Reserve Requirement to the Series 2022 Revenue Account in accordance with Section 4.02 hereof.
Subject to the provisions of Section 4.05 hereof, on any date the Issuer receives notice from the District Manager that a landowner wishes to prepay its Series 2022 Special Assessments relating to the benefited property of such landowner within the Series 2022 Assessment Area, or as a result of a mandatory true-up payment, the Issuer shall, or cause the District Manager, on behalf of the Issuer, to calculate the principal amount of such Prepayment taking into account a credit against the amount of Series 2022 Prepayment Principal due by the amount of money in the Series 2022 Reserve Account that will exceed the Series 2022 Reserve Requirement for the Series 2022 Bonds, taking into account the proposed Prepayment. Such excess shall be transferred to the Series 2022 Prepayment Subaccount of the Series 2022 Bond Redemption Account, as a result of such Prepayment. The District Manager, on behalf of the Issuer, shall make such calculation within ten (10) Business Days after such Prepayment and shall instruct the Trustee in writing to transfer such amount of credit given to the respective landowner from the Series 2022 Reserve Account to the Series 2022 Prepayment Subaccount of the Series 2022 Bond Redemption Account to be used for the extraordinary mandatory redemption of the Series 2022 Bonds in accordance with Section 3.01(b)(i) hereof. The Trustee is authorized to make such transfers and has no duty to verify such calculations. Notwithstanding any of the foregoing, amounts on deposit in the Series 2022 Reserve Account shall be transferred by the Trustee, in the amounts directed in writing by the Majority Holders of the Series 2022 Bonds to the Series 2022 General Redemption Subaccount, if as a result of the application of Article X of the Master Indenture, the proceeds received from lands sold subject to the Series 2022 Special Assessments and applied to redeem a portion of the Series 2022 Bonds is less than the principal amount of Series 2022 Bonds indebtedness attributable to such lands.
In addition, and together with the moneys transferred from the Series 2022 Reserve Account pursuant to this paragraph, if the amount on deposit in the Series 2022 General Redemption Subaccount or the Series 2022 Prepayment Subaccount, as the case may be, is not sufficient to redeem a principal amount of the Series 2022 Bonds in an Authorized Denomination, the Trustee is authorized to withdraw amounts from the Series 2022 Revenue Account to round up the amount in the Series 2022 Prepayment Subaccount or Series 2022 General Redemption Subaccount to the nearest Authorized Denomination. Notwithstanding the foregoing, no transfers from the Series 2022 Revenue Account shall be made to pay interest on and/or principal of the Series 2022 Bonds for the redemption pursuant to Sections 3.01(b)(i) or 3.01(b)(iii) if as a result the deposits required under Section 4.02 FIRST through FIFTH cannot be made in full.

Pursuant to Section 6.06 of the Master Indenture, the Trustee shall establish a separate Series Bond Redemption Account within the Bond Redemption Fund designated as the "Series 2022 Bond Redemption Account" and within such Account, a "Series 2022 General Redemption Subaccount," a "Series 2022 Optional Redemption Subaccount," and a "Series 2022 Prepayment Subaccount." Except as otherwise provided in this Second Supplemental Trust Indenture regarding Prepayments or in connection with the optional redemption of the Series 2022 Bonds, moneys to be deposited into the Series 2022 Bond Redemption Account as provided in Section 6.06 of the Master Indenture, shall be deposited to the Series 2022 General Redemption Subaccount.

Moneys that are deposited into the Series 2022 General Redemption Subaccount (including all earnings on investments held therein) shall be used to call for the extraordinary mandatory redemption (i) in whole, pursuant to Section 3.01(b)(ii) hereof, the Outstanding amount of Series 2022 Bonds or (ii) in whole or in part pursuant to Section 3.01(b)(iii) and Section 4.01(a) hereof.

Moneys in the Series 2022 Prepayment Subaccount (including all earnings on investments held in such Series 2022 Prepayment Subaccount) shall be accumulated therein to be used to call for redemption pursuant to Section 3.01(b)(i) hereof an amount of Series 2022 Bonds equal to the amount of money transferred to the Series 2022 Prepayment Subaccount of the Series 2022 Bond Redemption Account for the purpose of such extraordinary mandatory redemption on the dates and at the price provided in such Section 3.01(b)(i) hereof. In addition, and together with the moneys transferred from the Series 2022 Reserve Account pursuant to paragraph (f) above, if the amount on deposit in the Series 2022 Prepayment Subaccount is not sufficient to redeem a principal amount of the Series 2022 Bonds in an Authorized Denomination, the Trustee upon written direction from the Issuer, shall be authorized to withdraw amounts from the Series 2022 Revenue Account to deposit to the Series 2022 Prepayment Subaccount to round-up the amount to the nearest Authorized Denomination. Notwithstanding the foregoing, no transfers from the Series 2022 Revenue Account shall be directed by the Issuer to pay interest on and/or principal of the Series 2022 Bonds for the redemption pursuant to Section 3.01(b)(i) if as a result the deposits required under Section 4.02 FIRST through FIFTH cannot be made in full.

The Issuer hereby directs the Trustee to establish a separate account in the Rebate Fund designated as the "Series 2022 Rebate Account." Moneys shall be deposited into the Series 2022 Rebate Account, as provided in the Arbitrage Certificate and applied for the purposes provided therein.
Moneys on deposit in the Series 2022 Optional Redemption Subaccount shall be used to optionally redeem all or a portion of the Series 2022 Bonds pursuant to Section 3.01(a) hereof.

SECTION 4.02. Series 2022 Revenue Account. The Trustee shall transfer  from  amounts on deposit in the Series 2022 Revenue Account to the Funds and Accounts designated below, the following amounts, at the following times and in the following order of priority:

FIRST, upon receipt but no later than the Business Day next preceding each Interest Payment Date, commencing [May 1, 2022], to the Series 2022 Interest Account of the Debt Service Fund, an amount equal to the interest on the Series 2022 Bonds becoming due on the next succeeding Interest Payment Date, less any amount on deposit in the Series 2022 Interest Account not previously credited;

SECOND, no later than the Business Day next preceding each May 1, commencing [May 1, 20 ], to the Series 2022 Sinking Fund Account, an amount equal to the principal amount of Series 2022 Bonds subject to sinking fund redemption on such May 1, less any amount on deposit in the Series 2022 Sinking Fund Account not previously credited;
THIRD, upon receipt but no later than the Business Day next preceding each Interest Payment Date while Series 2022 Bonds remain Outstanding, to the Series 2022 Reserve Account, an amount equal to the amount, if any, which is necessary to make the amount on deposit therein equal to the Reserve Requirement for the Series 2022 Bonds;
FOURTH, notwithstanding the foregoing, at any time the Series 2022 Bonds are subject to redemption on a date which is not a May 1 or November 1 Interest Payment Date, the Trustee shall be authorized to transfer to the Series 2022 Interest Account, the amount necessary to pay interest on the Series 2022 Bonds subject to redemption on such date; and
FIFTH, subject to the foregoing paragraphs, the balance of any moneys remaining after making the foregoing deposits shall be first deposited into the Series 2022 Costs of Issuance Account upon the written request of the Issuer to cover any deficiencies in the amount allocated to pay the cost of issuing the Series 2022 Bonds and next, any balance in the Series 2022 Revenue Account shall remain on deposit in such Series 2022 Revenue Account, unless needed for the purposes of rounding the principal amount of a Series 2022 Bond subject to extraordinary mandatory redemption pursuant to Section 4.01(i) hereof to an Authorized Denomination, or unless pursuant to the Arbitrage Certificate, it is necessary to make a deposit into the Series 2022 Rebate Fund, in which case, the Issuer shall direct the Trustee to make such deposit thereto.

Notwithstanding the foregoing, in the event of a redemption of Series 2022 Bonds from Prepayments on deposit in the Series 2022 Prepayments Subaccount, the Trustee is further authorized, upon written direction from the Issuer, to transfer from the Series 2022 Revenue Account to the Series 2022 Prepayment Subaccount sufficient funds to cause the redemption of the next closest Authorized Denomination of Series 2022 Bonds, as provided in Section 4.01(f) and 4.01(i) hereinabove.

SECTION 4.03. Power to Issue Series 2022 Bonds and Create Lien. The Issuer is duly authorized under the Act and all applicable laws of the State to issue the Series 2022 Bonds, to
execute and deliver the Series 2022 Indenture and to pledge the Series 2022 Pledged Revenues for the benefit of the Series 2022 Bonds to the extent set forth herein. The Series 2022 Pledged Revenues are not and shall not be subject to any other lien senior to or on a parity with the lien created in favor of the Series 2022 Bonds, except as otherwise permitted under the Master Indenture and in Section 5.04 hereof. The Series 2022 Bonds and the provisions of the Series 2022 Indenture are and will be valid and legally enforceable obligations of the Issuer in accordance with their respective terms. The Issuer shall, at all times, to the extent permitted by law, defend, preserve and protect the pledge created by the Series 2022 Indenture and all the rights of the Holders of the Series 2022 Bonds under the Series 2022 Indenture against all claims and demands of all persons whomsoever.

SECTION 4.04. Series 2022 Project to Conform to Engineer's Report. Simultaneously with the issuance of the Series 2022 Bonds, the Issuer will promptly proceed to construct and/or acquire the Series 2022 Project, as described in Exhibit A hereto and in the Engineer's Report relating thereto, all pursuant to the terms and provisions of the Acquisition Agreement.

SECTION 4.05.	Prepayments; Removal of Series 2022 Special Assessment Liens.
At any time any owner of property subject to the Series 2022 Special Assessments may, at its option, or as a result of acceleration of the Series 2022 Special Assessments because of non-payment thereof, shall, or by operation of law, require the Issuer to reduce or release and extinguish the lien upon its property by virtue of the levy of the Series 2022 Special Assessments by paying or causing there to be paid, to the Issuer all or a portion of the Series 2022 Special Assessment, which shall constitute Series 2022 Prepayment Principal, plus, except as provided below, accrued interest to the next succeeding Quarterly Redemption Date (or the first succeeding Quarterly Redemption Date that is at least 45 days after such Prepayment, if such Prepayment is made within 45 calendar days before the next succeeding Quarterly Redemption Date, as the case may be), attributable to the property subject to Series 2022 Special Assessments owned by such owner. To the extent that such Prepayments are to be used to redeem Series 2022 Bonds pursuant to Section 3.01(b)(i) hereof, in the event the amount on deposit in the Series 2022 Reserve Account will exceed the Series 2022 Reserve Requirement for the Series 2022 Bonds as a result of a Prepayment in accordance with this Section 4.05(a) and the resulting extraordinary mandatory redemption in accordance with Section 3.01(b)(i) of this Second Supplemental Trust Indenture of Series 2022 Bonds, the excess amount shall be transferred from the Series 2022 Reserve Account to the Series 2022 Prepayment Subaccount, as a credit against the Series 2022 Prepayment Principal otherwise required to be paid by the owner of such lot or parcel, upon written instructions of the Issuer to the Trustee together with a certificate of a Responsible Officer of the Issuer, upon which the Trustee may conclusively rely, stating that, after giving effect to such transfers sufficient moneys will be on deposit in the Series 2022 Reserve Account to equal or exceed the Series 2022 Reserve Requirement.

Upon receipt of Series 2022 Prepayment Principal as described in paragraph (a) above, subject to satisfaction of the conditions set forth therein, the Issuer shall immediately pay the amount so received to the Trustee, and the Issuer shall take such action as is necessary to record in the official improvement lien book of the District that the Series 2022 Special Assessment has been paid in whole or in part and that such Series 2022 Special Assessment lien is thereby reduced, or released and extinguished, as the case may be.
The Trustee may conclusively rely on the Issuer's determination of what moneys constitute Prepayments. The Trustee shall calculate the amount available for the extraordinary mandatory redemption of the applicable Series 2022 Bonds pursuant to Section 3.01(b)(i) forty-five (45) days prior to each Quarterly Redemption Date.

[END OF ARTICLE IV]
ARTICLE V
COVENANTS AND DESIGNATIONS OF THE ISSUER

SECTION 5.01. Collection of Series 2022 Special Assessments. The Series 2022  Special Assessments levied for each full year on platted lots shall be collected pursuant to the uniform method provided for in Sections 197.3632 and 197.3635 Florida Statutes, (the "Uniform Method") unless the District determines that it is in its best interests to collect directly. The Series 2022 Special Assessments levied on unplatted lots or lands shall be billed and collected directly by the District pursuant to the Act and Chapters 170 and 197, Florida Statutes, and not pursuant to the Uniform Method unless the District determines that it is in its best interests to do so. Prior to an Event of Default, the election to collect and enforce Series 2022 Special Assessments in any year pursuant to any one method shall not, to the extent permitted by law, preclude the District from electing to collect and enforce Series 2022 Special Assessments pursuant to any other method permitted by law in any subsequent year. Following an Event of Default, Series 2022 Special Assessments levied on platted lots shall be collected pursuant to the Uniform Method and Series 2022 Special Assessments levied on unplatted lots or lands shall be billed and collected directly by the District pursuant to the Act and Chapters 170 and 197, Florida Statutes, and not pursuant to the Uniform Method, in each case unless the Trustee, acting at the direction of the Majority Holders of the Series 2022 Bonds Outstanding, provides written consent/direction to a different method of collection. All Series 2022 Special Assessments that are billed and collected directly by the District and not via the Uniform Method shall be due and payable by the landowner no later than thirty
(30) days prior to each Interest Payment Date; provided, however, that such Series 2022 Special Assessments shall not be deemed to be delinquent unless and until they are not paid by the applicable Interest Payment Date with respect to which they have been billed. The assessment methodology shall not be amended without the written consent of the Majority Holders.

SECTION 5.02. Continuing Disclosure. Contemporaneously with the execution and delivery hereof, the Issuer and the Series 2022 Landowners have executed and delivered a Continuing Disclosure Agreement in order to assist the Underwriter in complying with the requirements of Rule 15c2-12 promulgated under the Securities and Exchange Act of 1934. The Issuer covenants and agrees to comply with the provisions of the Continuing Disclosure Agreement applicable to it; however, as set forth therein, failure to so comply shall not constitute an Event of Default hereunder, but shall instead be enforceable by mandamus or any other means of specific performance.

SECTION 5.03. Investment of Funds and Accounts. The provisions of Section 7.02 of the Master Indenture shall apply to the investment and reinvestment of moneys in the Funds, Accounts and subaccounts therein created hereunder.
SECTION 5.04. Additional Bonds.  The Issuer covenants not to issue any other Bonds  or other debt obligations secured by the Series 2022 Special Assessments. In addition, the Issuer covenants not to issue any other Bonds or debt obligations for capital projects, secured by Special Assessments on the assessable lands within the District that are subject to the Series 2022 Special Assessments, until the Series 2022 Special Assessments are Substantially Absorbed. The District shall present the Trustee with a certification that the Series 2022 Special Assessments are Substantially Absorbed and the Trustee may rely conclusively upon such certification and shall have no duty to verify if the Series 2022 Special Assessments are Substantially Absorbed. In the
absence of such written certification, the Trustee is entitled to assume that the Series 2022 Special Assessments have not been Substantially Absorbed. Such covenant shall not prohibit the Issuer from issuing refunding Bonds or any Bonds or other obligations secured by Special Assessments levied on District Lands outside of the Series 2022 Assessment Area, or to finance any other capital project that is necessary to remediate any natural disaster, catastrophic damage or failure with respect to the Series 2022 Project.

SECTION 5.05. Requisite Holders for Direction or Consent. Anything in the Master Indenture to the contrary notwithstanding, any direction or consent or similar provision which requires fifty-one percent (51%) of the Holders, shall in each case be deemed to refer to, and shall mean, the Majority Holders.

SECTION 5.06. Acknowledgement Regarding the Moneys in the Series 2022 Acquisition and Construction Accounts Following an Event of Default . In accordance with the provisions of the Series 2022 Indenture, the Series 2022 Bonds are payable solely from the Series 2022 Pledged Revenues and any other moneys held by the Trustee under the Series 2022 Indenture for such purpose. Anything in the Series 2022 Indenture to the contrary notwithstanding, the Issuer hereby acknowledges that the Series 2022 Pledged Revenues include, without limitation, all amounts on deposit in the respective Series 2022 Acquisition and Construction Accounts then held by the Trustee, and that (i) upon the occurrence of an Event of Default with respect to the Series 2022 Bonds, the Series 2022 Pledged Revenues may not be used by the Issuer (whether to pay costs of the Series 2022 Project or otherwise) without the consent of the Majority Holders and (ii) the Series 2022 Pledged Revenues may be used by the Trustee, at the direction or with the approval of the Majority Holders, to pay costs and expenses incurred in connection with the pursuit of remedies under the Series 2022 Indenture, provided, however notwithstanding anything herein to the contrary the Trustee is also authorized to utilize the Series 2022 Pledged Revenues to pay fees and expenses as provided in Section 10.12 of the Master Indenture.

[END OF ARTICLE V]
ARTICLE VI
THE TRUSTEE; THE PAYING AGENT AND REGISTRAR

SECTION 6.01. Acceptance of Trust. The Trustee accepts and agrees to execute the trusts hereby created and agrees to perform such trusts upon the terms and conditions set forth in the Series 2022 Indenture. The Trustee agrees to act as Paying Agent, Registrar and Authenticating Agent for the Series 2022 Bonds.

SECTION 6.02. Trustee's Duties. The Trustee shall not be responsible in any manner  for the due execution of this Second Supplemental Trust Indenture by the Issuer or for the recitals contained herein (except for the certificate of authentication on the Series 2022 Bonds), all of which are made solely by the Issuer. Nothing contained herein shall limit the rights, benefits, privileges, protection and entitlement inuring to the Trustee under the Master Indenture.

[END OF ARTICLE VI]
ARTICLE VII MISCELLANEOUS PROVISIONS

SECTION 7.01. Interpretation of Second Supplemental Trust Indenture. This Second Supplemental Trust Indenture amends and supplements the Master Indenture with respect to the Series 2022 Bonds, and all of the provisions of the Master Indenture, to the extent not inconsistent herewith, are incorporated in this Second Supplemental Trust Indenture by reference. To the maximum extent possible, the Master Indenture and the Second Supplemental Trust Indenture shall be read and construed as one document.

SECTION 7.02. Amendments. Any amendments to this Second Supplemental Trust Indenture shall be made pursuant to the provisions for amendment contained in the Master Indenture.
SECTION 7.03. Counterparts. This Second Supplemental Trust Indenture may be executed in any number of counterparts, each of which when so executed and delivered shall be an original; but such counterparts shall together constitute but one and the same instrument.

SECTION 7.04. Appendices and Exhibits. Any and all schedules, appendices  or  exhibits referred to in and attached to this Second Supplemental Trust Indenture are hereby incorporated herein and made a part of this Second Supplemental Trust Indenture for all purposes.
SECTION 7.05. Payment Dates. In any case in which an Interest Payment Date or the maturity date of the Series 2022 Bonds or the date fixed for the redemption of any Series 2022 Bonds shall be other than a Business Day, then payment of interest, principal or Redemption Price need not be made on such date but may be made on the next succeeding Business Day, with the same force and effect as if made on the due date, and no interest on such payment shall accrue for the period after such due date if payment is made on such next succeeding Business Day.
SECTION 7.06. No Rights Conferred on Others. Nothing herein contained shall confer any right upon any Person other than the parties hereto and the Holders of the Series 2022 Bonds, and no other person is intended to be a third party beneficiary hereof to be entitled to assert or preserve any claim hereunder.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK – SIGNATURE PAGE FOLLOWS]
IN WITNESS WHEREOF, North Powerline Road Community Development District has caused this Second Supplemental Trust Indenture to be executed by the Chairperson of its Board of Supervisors and its corporate seal to be hereunto affixed and attested by the Secretary of its Board of Supervisors and U.S. Bank Trust Company, National Association (successor to U.S. Bank National Associaton) has caused this Second Supplemental Trust Indenture to be executed by one of its authorized signatories, all as of the day and year first above written.

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT
[SEAL]

Attest:

By:  	
Name: Jill Burns
Title:	Secretary, Board of Supervisors
DISTRICT

By:  	
Name:
Title:	Chairperson, Board of Supervisors

BANK	TRUST	COMPANY, NATIONAL ASSOCIATION,
as Trustee, Paying Agent and Registrar

By:  	
Name:	Stacey L. Johnson Title:	Vice President

EXHIBIT B

FORM OF BOND PURCHASE CONTRACT

B-1

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT (POLK COUNTY, FLORIDA)

$ 	
SPECIAL ASSESSMENT BONDS, SERIES 2022 BOND PURCHASE CONTRACT
 	, 2022

Board of Supervisors
North Powerline Road Community Development District Polk County, Florida

Dear Ladies and Gentlemen:

FMSbonds, Inc. (the "Underwriter") offers to enter into this Bond Purchase Contract (the "Purchase Contract") with North Powerline Road Community Development District (the "District"). The District is located partially within unincorporated Polk County, Florida (the "County") and partially within the City of Davenport, Florida (the "City"). This offer of the Underwriter shall, unless accepted by the District, acting through its Board of Supervisors (the "Board"), expire at [2:00 P.M.] prevailing time within the jurisdiction of the District on the date hereof, unless previously withdrawn or extended in writing by the Underwriter. This Purchase Contract shall be binding upon the District and the Underwriter upon execution and delivery. Any capitalized word not defined herein shall have the meaning ascribed thereto in the Preliminary Limited Offering Memorandum (as hereinafter defined). In conformance with Section 218.385, Florida Statutes, as amended, the Underwriter hereby delivers to the District the Disclosure and Truth-In- Bonding Statements attached hereto as Exhibit A.

Purchase and Sale. Upon the terms and conditions and upon the basis of the representations, warranties and agreements set forth herein, the Underwriter hereby agrees to purchase from the District and the District hereby agrees to sell and deliver to the Underwriter, all (but not less than all) of its $ 	aggregate principal amount of North Powerline Road Community Development District Special Assessment Bonds, Series 2022 (the "Bonds"). The Bonds shall be dated their date of delivery and shall mature on the dates, shall bear interest at the rates, and shall be subject to redemption prior to maturity, all as provided in Exhibit B attached hereto. The purchase price for the Series 2022 Bonds shall be
$ 	(representing the $ 	aggregate  principal  amount  of  the  Series  2022 Bonds,
[plus/less net original issue premium/discount of $ 	and] less an underwriter's discount of
$ 	). The payment for and delivery of the Bonds and the other actions contemplated hereby to take place at the Closing Date (as hereinafter defined) being hereinafter referred to as the "Closing."

The Bonds. The Bonds are to be issued by the District, a local unit of special-purpose government of the State of Florida (the "State"), created pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended, any successor statute thereto, the Florida Constitution, and other applicable provisions of law (the "Act"), and by Ordinance No. 18-036 enacted by the Board of County Commissioners of Polk County, Florida (the "County") on June 5, 2018, as amended by Ordinance Nos. 20-028, 20-046 and 22-001, enacted by the Board of County Commissioners of Polk County, Florida on June 16, 2020, December 2, 2020 and January 4, 2022, respectively (collectively, the "Ordinance"), and approved and consented to by the City Commission of the City of Davenport, Florida (the "City") by Resolution Nos. 387-18, 456-20 and 474-21, adopted on March 19, 2018, November 16, 2020 and December 6, 2021, respectively. The Series 2022 Bonds are being issued pursuant to the Act and
secured pursuant to the provisions of a Master Trust Indenture dated as of December 1, 2020 (the "Master Indenture"), as supplemented by a Second Supplemental Trust Indenture dated as of March 1, 2022 (the "Second Supplemental Indenture" and, together with the Master Indenture, the "Indenture"), each by and between the District and U.S. Bank Trust Company, National Association, as trustee (the "Trustee"), and Resolution No. 2018-25 adopted by the Board of Supervisors (the "Board") of the District on July 18, 2018 as amended by Resolution No. 2021-23 adopted by the Board on September 22, 2021 and Resolution No. 2022-06 adopted on February 23, 2022 (collectively, the "Bond Resolution"). The Series 2022 Special Assessments, the revenues from which constitute part of the Series 2022 Pledged Revenues, have been, or will be prior to the time of Closing, levied by the District on the lands within the District specially benefited by the Series 2022 Project pursuant to the Assessment Resolutions (as such terms are defined in the Indenture).

Limited Offering; Establishment of Issue Price. It shall be a condition to the District's obligation to sell and to deliver the Bonds to the Underwriter, and to the Underwriter's obligation to purchase, accept delivery of and pay for the Bonds, that the entire principal amount of the Bonds be issued, sold and delivered by the District and purchased, accepted and paid for by the Underwriter at the Closing and that the District and the Underwriter receive the opinions, documents and certificates described in Section 8(c) hereof.

The Underwriter agrees to assist the District in establishing the issue price of the Bonds and shall execute and deliver to the District at Closing an "issue price" or similar certificate, together with the supporting pricing wires or equivalent communications, in a form reasonably satisfactory to Bond Counsel, with such modifications as may be appropriate or necessary, in the reasonable judgment of the Underwriter, the District and Bond Counsel, to accurately reflect, as applicable, the sales price or prices or the initial offering price or prices to the public of the Bonds.

Except as otherwise indicated in Exhibit B, the District will treat the first price at which 10% of each maturity of the Bonds (the "10% test") is sold to the public as the issue price of that maturity. At or promptly after the execution of this Purchase Contract, the Underwriter shall report to the District the price or prices at which the Underwriter has sold to the public each maturity of Bonds. If at that time the 10% test has not been satisfied as to any maturity, the Underwriter agrees to promptly report to the District the prices at which the Bonds of that maturity have been sold by the Underwriter to the public. That reporting obligation shall continue, whether or not the Closing Date has occurred, until the 10% test has been satisfied as to the Bonds of that maturity or until all Bonds of that maturity have been sold to the public provided that, the Underwriter's reporting obligation after the Closing Date may be at reasonable periodic intervals or otherwise upon request of the Issuer or bond counsel. For purposes of this Section, if Bonds mature on the same date but have different interest rates, each separate CUSIP number within that maturity will be treated as a separate maturity of the Bonds.

The Underwriter confirms that it has offered the Bonds to accredited investors constituting the public on or before the date of this Purchase Contract at the offering price or prices (the "initial offering price"), or at the corresponding yield or yields, set forth in Exhibit B attached hereto, except as otherwise set forth therein. Exhibit B also sets forth, as of the date of this Purchase Contract, the maturities of the Bonds for which the 10% test has not been satisfied and for which the District and the Underwriter agree that the restrictions set forth in the next sentence shall apply, which will allow the District to treat the initial offering price to the public of each such maturity as of the sale date as the issue price of that maturity (the "hold-the-offering-price rule"). So long as the hold-the-offering-price rule remains applicable to any maturity of the Bonds, the Underwriter will neither offer nor sell unsold Bonds of that maturity to any person at a price that is higher than
the initial offering price to the public during the period starting on the sale date and ending on the earlier of the following:

the close of the fifth (5th) business day after the sale date; or

the date on which the Underwriter has sold at least 10% of that maturity of the Bonds to the public at a price that is no higher than the initial offering price to the public.

The Underwriter will advise the District promptly after the close of the fifth (5th) business day after the sale date whether it has sold 10% of that maturity of the Bonds to the public at a price that is no higher than the initial offering price to the public.

The Underwriter confirms that:

any selling group agreement and any third-party distribution agreement relating to the initial sale of the Bonds to the public, together with the related pricing wires, contains or will contain language obligating each dealer who is a member of the selling group and each broker-dealer that is a party to such third-party distribution agreement, as applicable:

(i) to report the prices at which it sells to the public the unsold Bonds of each maturity allocated to it, whether or not the Closing Date has occurred, until either all Bonds of that maturity allocated to it have been sold or it is notified by the Underwriter that the 10% test has been satisfied as to the Bonds of that maturity, provided that, the reporting obligation after the Closing Date may be at reasonable periodic intervals or otherwise upon request of the Underwriter, and (ii) to comply with the hold-the-offering- price rule, if applicable, if and for so long as directed by the Underwriter,

to promptly notify the Underwriter of any sales of Bonds that, to its knowledge, are made to a purchaser who is a related party to an underwriter participating in the initial sale of the Bonds to the public (each such term being used as defined below), and

to acknowledge that, unless otherwise advised by the dealer or broker- dealer, the Underwriter shall assume that each order submitted by the dealer or broker- dealer is a sale to the public.

any selling group agreement relating to the initial sale of the Bonds to the public, together with the related pricing wires, contains or will contain language obligating each dealer that is a party to a third-party distribution agreement to be employed in connection with the initial sale of the Bonds to the public to require each broker-dealer that is a party to such third-party distribution agreement to (A) report the prices at which it sells to the public the unsold Bonds of each maturity allocated to it, whether or not the Closing Date has occurred, until either all Bonds of that maturity allocated to it have been sold or it is notified by the Underwriter or the dealer that the 10% test has been satisfied as to the Bonds of that maturity, provided that, the reporting obligation after the Closing Date may be at reasonable periodic intervals or otherwise upon request of the Underwriter or the dealer, and (B) comply with the hold-the-offering-price rule, if applicable, if and for so long as directed by the Underwriter or the dealer and as set forth in the related pricing wires.
The District acknowledges that, in making the representations set forth in this section, the Underwriter will rely on (i) in the event a selling group has been created in connection with the initial sale of the Bonds to the public, the agreement of each dealer who is a member of the selling group to comply with the requirements for establishing issue price of the Bonds, including, but not limited to, its agreement to comply with the hold-the-offering-price rule, if applicable to the Bonds, as set forth in a selling group agreement and the related pricing wires, and
(ii) in the event that a third-party distribution agreement was employed in connection with the initial sale of the Bonds to the public, the agreement of each broker-dealer that is a party to such agreement to comply with the requirements for establishing issue price of the Bonds, including, but not limited to, its agreement to comply with the hold-the-offering-price rule, if applicable to the Bonds, as set forth in the third-party distribution agreement and the related pricing wires. The District further acknowledges that the Underwriter shall not be liable for the failure of any dealer who is a member of a selling group, or of any broker-dealer that is a party to a third-party distribution agreement, to comply with its corresponding agreement to comply with the requirements for establishing issue price of the Bonds, including, but not limited to, its agreement to comply with the hold-the-offering- price rule, if applicable to the Bonds.

The Underwriter acknowledges that sales of any Bond to any person that is a related party to an Underwriter participating in the initial sale of the Bonds to the public (each such term being used as defined below) shall not constitute sales to the public for purposes of this section. Further, for purposes of this section:

"public" means any person other than an underwriter or a related party,

"underwriter" means (A) any person that agrees pursuant to a written contract with the District (or with the Underwriter to form an underwriting syndicate) to participate in the initial sale of the Bonds to the public and (B) any person that agrees pursuant to a written contract directly or indirectly with a person described in clause (A) to participate in the initial sale of the Bonds to the public (including a member of a selling group or a party to a third-party distribution agreement participating in the initial sale of the Bonds to the public),

a purchaser of any of the Bonds is a "related party" to an underwriter if the underwriter and the purchaser are subject, directly or indirectly, to (A) more than 50% common ownership of the voting power or the total value of their stock, if both entities are corporations (including direct ownership by one corporation of another), (B) more than 50% common ownership of their capital interests or profits interests, if both entities are partnerships (including direct ownership by one partnership of another), or (C) more than 50% common ownership of the value of the outstanding stock of the corporation or the capital interests or profit interests of the partnership, as applicable, if one entity is a corporation and the other entity is a partnership (including direct ownership of the applicable stock or interests by one entity of the other), and

"sale date" means the date of execution of this Purchase Contract by all
parties.

Use of Documents. Prior to the date hereof, the District has caused to be prepared and provided to the Underwriter the Preliminary Limited Offering Memorandum, dated 	, 2022 (the "Preliminary Limited Offering Memorandum"), of the District, relating to the Bonds that the District has deemed final as of its date, except for certain permitted omissions (the "Permitted Omissions"), as contemplated by Rule 15c2-12 of the Securities and Exchange Commission (the "Rule") in connection with
the limited offering of the Bonds. The Underwriter has reviewed the Preliminary Limited Offering Memorandum prior to the execution of this Purchase Contract. The District has, prior to the date hereof, authorized the use of the Preliminary Limited Offering Memorandum by the Underwriter. The District shall deliver, or cause to be delivered, at its expense, to the Underwriter within seven (7) business days after the date hereof but not later than the Closing Date (as hereinafter defined) and in sufficient time to accompany any confirmation that requests payment from any customer such number of copies of the final Limited Offering Memorandum (the "Limited Offering Memorandum" and, together with the Preliminary Limited Offering Memorandum, the "Limited Offering Memoranda") as the Underwriter shall reasonably request to comply with the requirements of the Rule and all applicable rules of the Municipal Securities Rulemaking Board (the "MSRB"). The Underwriter agrees to file the Limited Offering Memorandum with the MSRB not later than two (2) business days after the Closing Date. The Underwriter agrees that it will not confirm the sale of any Bonds unless a final written confirmation of sale is accompanied or preceded by the delivery of a copy of the Limited Offering Memorandum. The District hereby approves the circulation and use by the Underwriter of the Limited Offering Memoranda with respect to the Bonds.

Definitions. For purposes hereof, (a) this Purchase Contract, the Bonds, the Indenture, the Continuing Disclosure Agreement to be dated as of the Closing Date, by and among the District, GLK Real Estate, LLC, a Florida limited liability company the "Phase 3 Landowner") and CH Dev, LLC, a Florida limited liability company (the "Phase 4 Landowner" and, together with the Phase 3 Landowner, the "Landowners"), and Governmental Management Services - Central Florida, LLC, a Florida limited liability company, as dissemination agent (the "Dissemination Agent"), the Trustee and the District Manager in substantially the form attached to the Preliminary Limited Offering Memorandum as APPENDIX E thereto (the "Disclosure Agreement") and the DTC Blanket Issuer Letter of Representations entered into by the District are referred to herein collectively as the "Financing Documents," and (b) [the Agreements Regarding the Completion of Certain Improvements by and between the District and each of the Landowners dated as of the Closing Date (the "Completion Agreements"), the Agreements Regarding the Acquisition of Real Property by and between the District and each of the Landowners dated as of the Closing Date (the "Acquisition Agreements"), the Collateral Assignments and Assumptions of Development Rights Relating to the Series 2022 Project by and between the District and each of the Landowners dated as of the Closing Date in recordable form (the "Collateral Assignments"), and the Agreements Regarding True-Up by and between the District and each of the Landowners dated as of the Closing Date in recordable form (the "True-Up Agreements")] are collectively referred to herein as the "Ancillary Agreements."

Representations, Warranties and Agreements. The District hereby represents, warrants and agrees as follows:

The Board is the governing body of the District and the District is and will be on the Closing Date duly organized and validly existing as a unit of special-purpose government created pursuant to the Constitution and laws of the State, including, without limitation, the Act;

The District has full legal right, power and authority to: (i) adopt the Bond Resolution and the Assessment Resolutions; (ii) enter into the Financing Documents and Ancillary Agreements; (iii) sell, issue and deliver the Bonds to the Underwriter as provided herein; (iv) apply the proceeds of the sale of the Bonds for the purposes described in the Limited Offering Memoranda;
authorize and acknowledge the use of the Limited Offering Memoranda and authorize the execution of the Limited Offering Memorandum; and (vi) carry out and consummate the transactions contemplated by the Bond Resolution, the Assessment Resolutions, the Financing Documents, the Ancillary Agreements, and the Limited Offering Memoranda. The District has complied, and on the Closing Date will be in compliance in all material respects, with the terms of
the Act and with the obligations on its part contained in the Bond Resolution, the Assessment Resolutions, the Financing Documents, the Ancillary Agreements and the Bonds;

At meetings of the Board that were duly called and noticed and at which a quorum was present and acting throughout, the Board duly adopted the Bond Resolution and the Assessment Resolutions, and the same are in full force and effect and have not been supplemented, amended, modified or repealed, except as set forth therein. By all necessary official Board action, the District has duly authorized and approved the use and delivery of the Preliminary Limited Offering Memorandum and the execution and delivery of the Financing Documents, the Ancillary Agreements, the Bonds and the Limited Offering Memorandum, has duly authorized and approved the performance by the District of the obligations on its part contained in the Financing Documents, the Ancillary Agreements and the Bonds and the consummation by it of all other transactions contemplated by this Purchase Contract and the Limited Offering Memoranda in connection with the issuance of the Bonds. Upon execution and delivery by the District and the Trustee (and assuming the due authorization, execution and delivery of the Indenture by the Trustee), the Indenture will constitute a legal, valid and binding obligation of the District, enforceable in accordance with its terms, subject only to applicable bankruptcy, insolvency, and similar laws affecting creditors' rights and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law). Upon execution by the District and the other parties thereto (and assuming the due authorization, execution and delivery of such agreements by the other parties thereto) the Financing Documents and the Ancillary Agreements will constitute the legal, valid and binding obligations of the District, enforceable in accordance with their respective terms; subject only to applicable bankruptcy, insolvency and similar laws affecting creditors' rights and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law);

Except as may be expressly disclosed in the Preliminary Limited Offering Memorandum, the District is not in material breach of or material default under any applicable provision of the Act or any applicable constitutional provision or statute or, to the best of its knowledge, administrative regulation of the State or the United States of America or any applicable judgment or decree, or any loan agreement, indenture, bond, note, resolution, agreement, or other material instrument to which the District is a party or to which the District or any of its property or assets is otherwise subject, and to the best of its knowledge, no event has occurred and is continuing which with the passage of time or the giving of notice, or both, would constitute a material default or material event of default under any such instrument; and the execution and delivery of the Bonds, the Financing Documents, the Ancillary Agreements and the Limited Offering Memorandum, the approval of the delivery of the Preliminary Limited Offering Memorandum, and the adoption of the Bond Resolution and the Assessment Resolutions, and compliance with the provisions on the District's part contained therein, will not conflict with or constitute a material breach of or material default under any applicable constitutional provision, or law, or, to the best of its knowledge, any administrative regulation, judgment, decree, loan agreement, indenture, bond, note, resolution, agreement, or other instrument to which the District is a party or to which the District or any of its property or assets is otherwise subject, nor will any such execution, delivery, adoption, or compliance result in the creation or imposition of any lien, charge, or other security interest or encumbrance of any nature whatsoever upon any of the property or assets of the District or under the terms of any such law, regulation or instrument, except as provided by the Assessment Resolutions, the Bonds and the Indenture. To the best of its knowledge, no event has occurred which, with the lapse of time or the giving of notice, or both, would constitute an event of default (as therein defined) under the Bonds, the Financing Documents or the Ancillary Agreements;
All authorizations, approvals, licenses, permits, consents and orders of any governmental authority, legislative body, board, agency or commission having jurisdiction of the matters which are required for the due authorization by, or which would constitute a condition precedent to, or the absence of which would materially adversely affect, the due performance by the District of its obligations, to issue the Bonds, or under the Bonds, the Bond Resolution, the Assessment Resolutions, Financing Documents or the Ancillary Agreements have been duly obtained, except for such approvals, consents and orders as may be required under the Blue Sky or securities laws of any state in connection with the offering and sale of the Bonds;

The descriptions of the Bonds, the Financing Documents, the Ancillary Agreements and the Series 2022 Project to the extent referred to in the Limited Offering Memoranda, conform in all material respects to the Bonds, the Financing Documents, the Ancillary Agreements and the Series 2022 Project, respectively;

The Bonds, when issued, executed and delivered in accordance with the Indenture and when sold to the Underwriter as provided herein, will be validly issued and outstanding obligations of the District, entitled to the benefits of the Indenture and upon such issuance, execution and delivery of the Bonds, the Indenture will provide, for the benefit of the holders from time to time of the Bonds, a legally valid and binding pledge of and first lien on the Series 2022 Pledged Revenues. On the Closing Date, all conditions precedent to the issuance of the Bonds set forth in the Indenture will have been complied with or fulfilled;

As of the date hereof, there is no claim, action, suit, proceeding, inquiry or investigation, at law or in equity, before or by any court, government agency, public board or body, pending or, to its best knowledge, threatened against the District: (i) contesting the corporate existence or powers of the Board or the titles of the respective officers of the Board to their respective offices; (ii) affecting or seeking to prohibit, restrain or enjoin the sale, issuance or delivery of the Bonds or the application of the proceeds of the sale thereof for the purposes described in the Limited Offering Memoranda or the collection of the Series 2022 Special Assessments or the pledge of and lien on the Series 2022 Pledged Revenues, pursuant to the Indenture; (iii) contesting or affecting specifically as to the District the validity or enforceability of the Act or any action of the District in any respect relating to the authorization for the issuance of the Bonds, or the authorization of the Series 2022 Project, the Bond Resolution, the Assessment Resolutions, the Financing Documents and Ancillary Agreements to which the District is a party, or the application of the proceeds of the Bonds for the purposes set forth in the Limited Offering Memoranda; (iv) contesting the federal tax status of the Bonds; or (v) contesting the completeness or accuracy of the Limited Offering Memoranda or any supplement or amendment thereto;

To the extent applicable, the District will furnish such information, execute such instruments and take such other action in cooperation with the Underwriter as the Underwriter may reasonably request in order to: (i) qualify the Bonds for offer and sale under the Blue Sky or other securities laws and regulations of such states and other jurisdictions of the United States as the Underwriter may designate; and (ii) determine the eligibility of the Bonds for investment under the laws of such states and other jurisdictions, and the District will use its best efforts to continue such qualifications in effect so long as required for the initial limited offering and distribution of the Bonds; provided, however, that the District shall not be required to execute a general or special consent to service of process or to qualify to do business in connection with any such qualification or determination in any jurisdiction or register as a broker/dealer;

As of its date (unless an event occurs of the nature described in paragraph (1) of this Section 6) and at all times subsequent thereto, up to and including the date hereof the statements
and information contained in the Preliminary Limited Offering Memorandum (other than Permitted Omissions) and in the Limited Offering Memorandum are and will be accurate in all material respects for the purposes for which their use is authorized and do not and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made therein, in the light of the circumstances under which they were made, not misleading; provided, however, that no representation is made concerning information contained in the Limited Offering Memoranda under the captions "DESCRIPTION OF THE SERIES 2022 BONDS – Book- Entry Only System," "THE DEVELOPMENT," "THE LANDOWNERS," "TAX MATTERS," "SUITABILITY FOR INVESTMENT," "LITIGATION – The Landowners,"
"UNDERWRITING" and, with respect to the Landowners, as set forth under the caption "CONTINUING DISCLOSURE";

If the Limited Offering Memorandum is supplemented or amended pursuant to subsection (1) of this Section 6, at the time of each supplement or amendment thereto and (unless subsequently again supplemented or amended pursuant to such paragraph) at all times subsequent thereto up to and including the Closing Date, the Limited Offering Memorandum as so supplemented or amended will be accurate in all material respects for the purposes for which their use is authorized and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that no representation is made concerning information contained in the Limited Offering Memoranda under the captions "DESCRIPTION OF THE SERIES 2022 BONDS – Book-Entry Only System," "THE DEVELOPMENT," "THE LANDOWNERS," "TAX MATTERS," "SUITABILITY FOR INVESTMENT," "LITIGATION – The Landowners," "UNDERWRITING" and, with respect to the Landowners, as set forth under the caption "CONTINUING DISCLOSURE";

If between the date of this Purchase Contract and the earlier of (i) the date that is ninety (90) days from the end of the "Underwriting Period" as defined in the Rule, or (ii) the time when the Limited Offering Memorandum is available to any person from the MSRB's Electronic Municipal Market Access system (but in no event less than twenty-five (25) days following the end of the Underwriting Period), any event shall occur, of which the District has actual knowledge, which might or would cause the Limited Offering Memorandum, as then supplemented or amended, to contain any untrue statement of a material fact or to omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, the District shall notify the Underwriter thereof, and, if in the opinion of the Underwriter such event requires the preparation and publication of a supplement or amendment to the Limited Offering Memorandum, the District will at its expense (unless such supplement or amendment is the direct result of information provided by the Landowners or Underwriter, then at the expense of said relevant person) supplement or amend the Limited Offering Memorandum in a form and in a manner approved by the Underwriter. The end of the Underwriting Period shall be the next business day after the Closing Date;

Since its inception, there has been no material adverse change in the properties, businesses, results of operations, prospects, management or financial or other condition of the District, except as disclosed in the Limited Offering Memoranda, and the District has not incurred liabilities that would materially adversely affect its ability to discharge its obligations under the Bond Resolution, the Assessment Resolutions, either Series of the Bonds, the Financing Documents or the Ancillary Agreements, direct or contingent, other than as set forth in or contemplated by the Limited Offering Memoranda;
The District has not and is not now in default in the payment of the principal of or the interest on any governmental security issued or guaranteed by it after December 31, 1975 which would require the disclosure pursuant to Section 517.051, Florida Statutes or Rule 69W-400.003 of the Florida Department of Financial Services;

The District has disclosed in the Preliminary Limited Offering Memorandum any failure in the previous five (5) years to comply, in all material respects, with any previous continuing disclosure obligations undertaken by the District in accordance with the continuing disclosure requirements of the Rule;

Any certificate signed by any official of the District and delivered to the Underwriter will be deemed to be a representation by the District to the Underwriter as to the statements made therein; and

From the date of this Purchase Contract through the Closing Date, the District will not issue any bonds (other than the Bonds), notes or other obligations payable from the Series 2022 Pledged Revenues.

Closing. At 10:00 a.m. prevailing time on 	, 2022 (the "Closing Date") or at such later time as may be mutually agreed upon by the District and the Underwriter, the District will, subject to the terms and conditions hereof, deliver to the Underwriter, the Bonds in definitive book-entry only form, duly executed and authenticated, together with the other documents hereinafter mentioned, and, subject to the terms and conditions hereof, the Underwriter will accept such delivery and pay the purchase price of the Bonds as set forth in Section 1 hereof, in federal or other immediately available funds to the order of the District. Delivery of the Bonds as aforesaid shall be made pursuant to the FAST system of delivery of The Depository Trust Company, New York, New York, or at such other place as may be mutually agreed upon by the District and the Underwriter. The Bonds shall be typewritten, shall be prepared and delivered as fully registered bonds in book-entry only form, with one bond for each maturity, registered in the name of Cede & Co. and shall be made available to the Underwriter at least one (1) business day before the Closing Date for purposes of inspection and packaging, unless otherwise agreed by the District and the Underwriter.

Closing Conditions. The Underwriter has entered into this Purchase Contract in reliance upon the representations, warranties and agreements of the District contained herein, and in reliance upon the representations, warranties and agreements to be contained in the documents and instruments to be delivered on the Closing Date and upon the performance by the District of its obligations hereunder, both as of the date hereof and as of the Closing Date. Accordingly, the Underwriter's obligations under this Purchase Contract to purchase, to accept delivery of and to pay for the Bonds are conditioned upon the performance by the District of its obligations to be performed hereunder and under such documents and instruments at or prior to the Closing Date, and are also subject to the following additional conditions:

The representations and warranties of the District contained herein shall be true, complete and correct, on the date hereof and on and as of the Closing Date, as if made on the Closing Date;

At the time of the Closing, the Bond Resolution, the Assessment Resolutions, the Bonds, the Financing Documents and the Ancillary Agreements shall each be in full force and effect in accordance with their respective terms and the Bond Resolution, the Assessment Resolutions, the Indenture and the Limited Offering Memoranda shall not have been supplemented, amended, modified or repealed, except in any such case as may have been agreed to by the Underwriter;
At or prior to the Closing Date, the Underwriter and the District shall have received each of the following:

The Limited Offering Memorandum and each supplement or amendment, if any, thereto, executed on behalf of the District by the Chairperson of the Board or such other authorized member of the Board;

A copy of each of the Bond Resolution and the Assessment Resolutions certified by the Secretary or an Assistant Secretary of the Board under seal as having been duly adopted by the Board of the District and as being in full force and effect;

Executed copies of each of the Financing Documents and Ancillary Agreements in form and substance acceptable to the Underwriter and Underwriter's counsel;

The opinion, dated as of the Closing Date and addressed to the District, of Greenberg Traurig, P.A., Bond Counsel, in the form included in the Preliminary Limited Offering Memorandum as APPENDIX C or otherwise in form and substance acceptable to the Underwriter and Underwriter's Counsel, together with a letter of such counsel, dated as of the Closing Date and addressed to the Underwriter and the Trustee, to the effect that the foregoing opinion addressed to the District may be relied upon by the Underwriter and the Trustee to the same extent as if such opinion were addressed to them;

The supplemental opinion, dated as of the Closing Date and addressed to the Underwriter, of Greenberg Traurig, P.A., Bond Counsel, in the form annexed as Exhibit C hereto or otherwise in form and substance acceptable to the Underwriter and Underwriter's Counsel;

The opinion, dated as of the Closing Date of KE Law Group, PLLC, counsel to the District, in the form annexed as Exhibit D hereto or in form and substance otherwise acceptable to the Underwriter and its counsel;

An opinion, dated as of the Closing Date and addressed to the Underwriter, Underwriter's Counsel, the District and Bond Counsel, of counsel to the Trustee, in form and substance acceptable to Bond Counsel, Underwriter, Underwriter's Counsel, and the District;

A customary authorization and incumbency certificate, dated as of the Closing Date, signed by authorized officers of the Trustee in form and substance acceptable to the Underwriter and Underwriter's Counsel;

The opinion, dated as of the Closing Date and addressed to the District, the Trustee and the Underwriter, of Straughn & Turner, P.A., counsel to the Landowners, in the form annexed as Exhibit E hereto or in form and substance otherwise acceptable to the Underwriter and Underwriter's counsel;

Certificate of the Landowners dated as of the Closing Date, in the form annexed as Exhibit F hereto or otherwise in form and substance acceptable to the Underwriter and Underwriter's Counsel;

A copy of the Original Ordinance;
A certificate, dated as of the Closing Date, signed by the Chairperson or Vice-Chairperson and the Secretary or an Assistant Secretary of the Board, setting forth that: (i) each of the representations of the District contained herein was true and accurate in all material respects on the date when made, has been true and accurate in all material respects at all times since, and continues to be true and accurate in all material respects on the Closing Date as if made on such date; (ii) the District has performed all obligations to be performed hereunder as of the Closing Date; (iii) except as may be disclosed in the Limited Offering Memorandum, the District has never been in default as to principal or interest with respect to any obligation issued or guaranteed by the District; (iv) the District agrees to take all reasonable action necessary to use the Uniform Method as the means of collecting the Series 2022 Special Assessments as described in the Indenture; and (v) the Limited Offering Memoranda (other than the information under the captions "DESCRIPTION OF THE SERIES 2022 BONDS – Book-Entry Only System," "THE DEVELOPMENT," "THE LANDOWNERS," "TAX MATTERS," "SUITABILITY FOR INVESTMENT," "LITIGATION – The Landowners," "UNDERWRITING" and, with respect to the Landowners, as set forth under the caption "CONTINUING DISCLOSURE," as to which no view need be expressed) as of their respective dates, and as of the date hereof, do not contain any untrue statement of a material fact or omits to state a material fact which should be included therein for the purposes for which the Limited Offering Memoranda are to be used, or which is necessary in order to make the statements contained therein, in the light of the circumstances under which they were made, not misleading;

A customary signature and no litigation certificate, dated as of the Closing Date, signed on behalf of the District by the Chairperson or Vice-Chairperson and Secretary or an Assistant Secretary of the Board in form and substance acceptable to the Underwriter and Underwriter's Counsel;

Evidence of compliance by the District with the requirements of Section 189.051, Florida Statutes;

Executed copies of the District's certification as to arbitrage and other matters relative to the tax status of the Bonds under Section 148 of the Internal Revenue Code of 1986, as amended;

Executed copy of Internal Revenue Service Form 8038-G relating to the
Bonds;

A certificate of the District's consulting engineer, dated as of the Closing Date, in the form annexed as Exhibit G hereto or otherwise in form and substance acceptable to the Underwriter and Underwriter's Counsel;

A certificate of the District Manager and Methodology Consultant in the form annexed as Exhibit H hereto or otherwise in form and substance acceptable to the Underwriter and Underwriter's Counsel;

A certificate of the District whereby the District deemed the Preliminary Limited Offering Memorandum final for purposes of the Rule as of the date of the Preliminary Limited Offering Memorandum except for the Permitted Omissions;

To the extent required under the Indenture, an investor letter from each initial beneficial owner of the Bonds in the form attached to the Indenture;
Such additional documents as may be required by the Indenture to be delivered as a condition precedent to the issuance of either Series of the Bonds;

Evidence of compliance by the District with the requirements of Section 215.84, Florida Statutes;

A certified copy of the final judgment of the Tenth Judicial Circuit Court of Florida in and for Polk County, validating the Bonds and appropriate certificate of no- appeal;

A copy of the Master Assessment Methodology for North Power Line Road Community Development District dated February 5, 2020, as supplemented by the Supplemental Assessment Methodology dated the date hereof, as the same may be amended and supplemented from time to time, relating to the Bonds;

A copy of the Engineer's Report for Capital Improvements, Third Amended and Restated, dated October 2021 (the "Engineer's Report");

Acknowledgments in recordable form by all mortgage holders, if any, on lands within the Series 2022 Assessment Area as to the superior lien of the Series 2022 Special Assessments, in form and substance acceptable to the Underwriter and Underwriter's Counsel;

A Declaration of Consent to Jurisdiction of the District, and to Imposition of Special Assessments by the Landowners and any other landowners with respect to all real property which is subject to the Series 2022 Special Assessments, in recordable form and otherwise in form and substance acceptable to the Underwriter and Underwriter's Counsel;

Evidence acceptable to the Underwriter in its sole discretion that the District has engaged a dissemination agent acceptable to the Underwriter (the "Dissemination Agent") for the Bonds;

A certificate of the Dissemination Agent (i) acknowledging its agreement to serve as the initial Dissemination Agent for the District and undertake the obligations of the Dissemination Agent as set forth in the Continuing Disclosure Agreements (ii) representing that the Dissemination Agent is aware of the continuing disclosure requirements set forth in the Continuing Disclosure Agreements and the Rule and that it has policies and procedures in place to ensure its compliance with its obligations under the Disclosure Agreements, and (iii) covenanting to comply with its obligations under the Disclosure Agreements; and

Such additional legal opinions, certificates, instruments and other documents as, the Underwriter, Underwriter's Counsel or Bond Counsel may reasonably request to evidence the truth and accuracy, as of the date hereof and as of the Closing Date, of the District's representations and warranties contained herein and of the statements and information contained in the Limited Offering Memoranda and the due performance or satisfaction by the District and the Landowners on or prior to the Closing of all the agreements then to be performed and conditions then to be satisfied by each.
If the District shall be unable to satisfy the conditions to the obligations of the Underwriter to purchase, to accept delivery of and to pay for the Bonds contained in this Purchase Contract (unless waived by the Underwriter in its sole discretion), or if the obligations of the Underwriter to purchase, to accept delivery of and to pay for the Bonds shall be terminated for any reason permitted by this Purchase Contract, this Purchase Contract shall terminate and neither the Underwriter nor the District shall be under any further obligation hereunder, except that the respective obligations of the District and the Underwriter set forth in Section 10 hereof shall continue in full force and effect.

Termination. The Underwriter shall have the right to terminate its obligations under this Purchase Contract to purchase, to accept delivery of and to pay for the Bonds by notifying the District in writing of its election to do so if, after the execution hereof and prior to the Closing: (i) legislation shall have been introduced in or enacted by the Congress of the United States or enacted by the State, or legislation pending in the Congress of the United States shall have been amended, or legislation shall have been recommended to the Congress of the United States or otherwise endorsed for passage (by press release, other form of notice or otherwise) by the President of the United States, the Treasury Department of the United States, the Internal Revenue Service or the Chairperson or ranking minority member of the Committee on Finance of the United States Senate or the Committee on Ways and Means of the United States House of Representatives, or legislation shall have been proposed for consideration by either such committee, by any member thereof, or legislation shall have been favorably reported for passage to either House of Congress of the United States by a committee of such House to which such legislation has been referred for consideration, or a decision shall have been rendered by a court of the United States or the State, including the Tax Court of the United States, or a ruling shall have been made or a regulation shall have been proposed or made or a press release or other form of notice shall have been issued by the Treasury Department of the United States, or the Internal Revenue Service or other federal or State authority, with respect to federal or State taxation upon revenues or other income of the general character to be derived by the District or by any similar body, or upon interest on obligations of the general character of the Bonds, which may have the purpose or effect, directly or indirectly, of materially and adversely affecting the tax exempt status of the District, its property or income, its securities (including the Bonds) or the interest thereon, or any tax exemption granted or authorized by the State or, which in the reasonable opinion of the Underwriter, affects materially and adversely the market for the Bonds, or the market price generally of obligations of the general character of the Bonds; (ii) the District or the Landowners has, without the prior written consent of the Underwriter, offered or issued any bonds, notes or other obligations for borrowed money, or incurred any material liabilities, direct or contingent, or there has been an adverse change of a material nature in the financial position, results of operations or condition, financial or otherwise, of the District or the Landowners, other than in the ordinary course of their respective business; (iii) any event shall have occurred or shall exist which, in the reasonable opinion of the Underwriter, would or might cause the information contained in the Limited Offering Memorandum, as then supplemented or amended, to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; or (iv) the District fails to adopt the Assessment Resolutions or fails to perform any action to be performed by it in connection with the levy of the Series 2022 Special Assessments.

Expenses.

The District agrees to pay, and the Underwriter shall not be obligated to pay, any expenses incident to the performance of the District's obligations hereunder, including, but not limited to: (i) the cost of the preparation and distribution of the Indenture; (ii) the cost of the preparation and printing, if applicable, of the Limited Offering Memoranda and any supplements thereto, together with a reasonable number of copies which the Underwriter may request; (iii) the cost of registering the Bonds in the name of Cede & Co., as nominee of DTC, which will act as securities depository for such Bonds; (iv) the fees and disbursements of counsel to the District, the District Manager, the Dissemination Agent, Bond Counsel, the
Consulting Engineer, the Underwriter, Underwriter's Counsel, the District's Methodology Consultant and any other experts or consultants retained by the District; and (v) the cost of recording in the Official Records of the County any Financing Documents, Ancillary Agreements or other documents or certificates that are required to be recorded pursuant to the terms of this Purchase Contract. It is anticipated that such expenses shall be paid from the proceeds of the Bonds. The District shall submit for recording all documents required to be provided in recordable form hereunder within three business days after the Closing Date, which obligation shall survive the Closing.

The Underwriter agrees to pay all advertising expenses in connection with the Bonds, if
any.

No Advisory or Fiduciary Role. The District acknowledges and agrees that (i) the purchase and sale of the Bonds pursuant to this Agreement is an arm's-length commercial transaction between the District and the Underwriter, (ii) in connection with such transaction and with the discussions, undertakings and processes leading up to such transaction, the Underwriter is and has been acting solely as a principal and not as an advisor (including, without limitation, a Municipal Advisor (as such term is defined in Section 975(e) of the Dodd-Frank Wall Street Reform and Consumer Protection Act)), agent or a fiduciary of the District, (iii) the Underwriter has not assumed an advisory or a fiduciary responsibility in favor of the District with respect to the limited offering of the Bonds or the discussions, undertakings and process leading thereto (whether or not the Underwriter, or any affiliate of the Underwriter, has provided or is currently advising or providing services to the District on other matters) or any other obligation to the District except the obligations expressly set forth in this Agreement, (iv) the Underwriter has financial and other interests that differ from those of the District, (v) the District has consulted with its own legal and financial advisors to the extent it deemed appropriate in connection with the offering of the Bonds, and (vi) the Underwriter has provided to the District prior disclosures under Rule G-17 of the MSRB, which have been received by the District.

Notices. Any notice or other communication to be given to the District under this Purchase Contract may be given by delivering the same in writing to the District Manager at Governmental Management Services – Central Florida, LLC, 219 E. Livingston Street, Orlando, Florida 32801, and any notice or other communication to be given to the Underwriter under this Purchase Contract may be given by delivering the same in writing to FMSbonds, Inc., 20660 W. Dixie Highway, North Miami Beach, Florida 33180, Attention: Jon Kessler.

Parties in Interest; Survival of Representations. This Purchase Contract is made solely for the benefit of the District and the Underwriter (including the successors or assigns of the Underwriter) and no other person shall acquire or have any right hereunder or by virtue hereof. All of the District's representations, warranties and agreements contained in this Purchase Contract shall remain operative and in full force and effect and survive the closing on the Bonds, regardless of: (i) any investigations made by or on behalf of the Underwriter and (ii) delivery of and payment for the Bonds pursuant to this Purchase Contract.

Effectiveness. This Purchase Contract shall become effective upon the execution by the appropriate officials of the District and shall be valid and enforceable at the time of such acceptance. To the extent of any conflict between the provisions of this Purchase Contract and any prior contract between the parties hereto, the provisions of this Purchase Contract shall govern.

Headings. The headings of the sections of this Purchase Contract are inserted for convenience only and shall not be deemed to be a part hereof.
Amendment. No modification, alteration or amendment to this Purchase Contract shall be binding upon any party until such modification, alteration or amendment is reduced to writing and executed by all parties hereto.

Governing Law. This Purchase Contract shall be governed and construed in accordance with the laws of the State.

Counterparts; Facsimile; PDF. This Purchase Contract may be signed in any number of counterparts with the same effect as if the signatures thereto and hereto were signatures upon the same instrument. Facsimile and pdf signatures shall be deemed originals.

[Signature page follows.]
Very truly yours,

FMSBONDS, INC.

Accepted and agreed to this
 	day of 	, 2022.
By:   	
Theodore A. Swinarski
Senior Vice President - Trading

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

By:   	
Warren K. "Rennie" Heath II Chairman, Board of Supervisors
EXHIBIT A

DISCLOSURE AND TRUTH-IN-BONDING STATEMENT

 	, 2022

North Powerline Road Community Development District Polk County, Florida

Re: $ 	North Powerline Road Community Development District Special Assessment Bonds, Series 2022 (the "Bonds")

Dear Ladies and Gentlemen:

Pursuant to Chapter 218.385, Florida Statutes, and with respect to the issuance of the above- referenced Bonds, FMSbonds, Inc. (the "Underwriter"), having purchased the Bonds pursuant to a Bond Purchase  Contract  dated 	, 2022 (the "Bond Purchase Contract"), by and between the Underwriter and North Powerline Road Community Development District (the "District"), furnishes the following information in connection with the limited offering and sale of the Bonds. Capitalized terms used and not defined herein shall have the meanings given to them under the Bond Purchase Contract.

The total underwriting discount paid to the Underwriter pursuant to the Bond Purchase Contract for the Bonds is approximately $ 	per $1,000.00 or $ 	.

There are no "finders" as such term is used in Sections 218.385 and 218.386, Florida Statutes, in connection with the issuance of the Bonds.

The nature and estimated amounts of expenses to be incurred by the Underwriter in connection with the issuance of the Bonds are set forth in Schedule I attached hereto.

The management fee charged by the Underwriter is: $0/$1,000 or $0.

Any other fee, bonus or other compensation estimated to be paid by the Underwriter in connection with the Bonds to any person not regularly employed or retained by the Underwriter in connection with the Bonds to any person not regularly employed or retained by the Underwriter is as follows: None. GrayRobinson, P.A. has been retained as counsel to the Underwriter and will be compensated by the District.

Pursuant to the provisions of Sections 218.385(2) and (3), Florida Statutes, as amended, the following truth-in-bonding statements are made with respect to the Bonds.
The address of the Underwriter is: FMSbonds, Inc.
20660 W. Dixie Highway
North Miami Beach, Florida 33180

The District is proposing to issue $ 	aggregate amount of the Bonds for the purposes of:
(i) providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2022 Project, (ii) funding a deposit to the Series 2022 Reserve Account in the amount of the Series 2022 Reserve Requirement, (iii) paying a portion of the interest coming
due on the Bonds and (iv) paying the costs of issuance of the Bonds. This debt or obligation is expected to be repaid over a period  of approximately 		(    ) years and 	( ) months. At a net interest cost of approximately 	% for the Bonds, total interest paid over the life of the Bonds will be $ 	.

The source of repayment for the Bonds is the Series 2022 Special Assessments, imposed and collected by the District. Based solely upon the assumptions set forth in the paragraph above, the issuance of  the Bonds  will  result in approximately $ 	(representing the average annual debt service payments due on the Bonds) of the District's special assessment revenues not being available to the District on an annual basis to finance other services of the District each year for 	( ) years and
 	 ( ) months; provided however, that in the event that the Bonds were not issued, the District would not be entitled to impose and collect the Series 2022 Special Assessments in the amount of the principal of and interest to be paid on the Bonds.

[Remainder of page intentionally left blank.]

Sincerely,

By:	 Theodore A. Swinarski
Senior Vice President - Trading
Schedule I  Expenses for Bonds:

Expense	Amount
DALCOMP	$ 	
Clearance CUSIP DTC
FINRA/SIPC MSRB
Electronic Orders
TOTAL:	$ 	
EXHIBIT B

TERMS OF BONDS

Purchase Price: $ 	(representing the $ 	aggregate principal amount of the Series 2022 Bonds, [plus/less net original issue premium/discount of $ 	and] less an underwriter's discount of $ 		).

Principal Amounts, Maturities, Interest Rates, [Yields] and Prices:

Series 2022 Bonds

Interest
Amount	Maturity	Rate	[Yield]	Price

* Yield calculated to first optional redemption date of May 1, 20 .

The Underwriter has offered the Series 2022 Bonds to the public on or before the date of this Purchase Contract at the initial offering prices set forth herein and has sold at least 10% of each maturity of the Series 2022 Bonds to the public at a price that is no higher than such initial offering prices[, except for the following maturities: 	].

Redemption Provisions: Optional Redemption
The Series 2022 Bonds maturing on or after May 1, 20  may, at the option of the District be  called for redemption prior to maturity as a whole or in part, at any time, on or after May 1, 20  (less   than all Series 2022 Bonds of a maturity to be selected by lot), at a Redemption Price equal to the principal amount of Series 2022 Bonds to be redeemed, plus accrued interest from the most recent Interest Payment Date through which interest has been paid to the redemption date from moneys on deposit in the Series 2022 Optional Redemption Subaccount of the Series 2022 Bond Redemption Account. If such optional redemption shall be in part, the District shall select such principal amount of Series 2022 Bonds to be optionally redeemed from each maturity so that debt service on the remaining Outstanding Series 2022 Bonds is substantially level.

Mandatory Sinking Fund Redemption

The  Series  2022  Bonds  maturing  on  May 1,  20 	are subject to mandatory sinking fund
redemption from the moneys on deposit in the Series 2022 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

The  Series  2022  Bonds  maturing  on  May 1,  20 	are subject to mandatory sinking fund
redemption from the moneys on deposit in the Series 2022 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

The  Series  2022  Bonds  maturing  on  May 1,  20 	are subject to mandatory sinking fund
redemption from the moneys on deposit in the Series 2022 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

The  Series  2022  Bonds  maturing  on  May 1,  20 	are subject to mandatory sinking fund
redemption from the moneys on deposit in the Series 2022 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

Upon any redemption of Series 2022 Bonds other than in accordance with scheduled mandatory sinking fund redemption, the District shall cause to be recalculated and delivered to the Trustee revised mandatory sinking fund redemption amounts recalculated so as to amortize the Outstanding principal amount of Series 2022 Bonds in substantially equal annual installments of principal and interest (subject to
rounding to Authorized Denominations of principal) over the remaining term of the Series 2022 Bonds. The mandatory sinking fund redemption amounts as so recalculated shall not result in an increase in the aggregate of the mandatory sinking fund redemption amounts for all Series 2022 Bonds in any year. In the event of a redemption or purchase occurring less than 45 days prior to a date on which a mandatory sinking fund redemption amount is due, the foregoing recalculation shall not be made to mandatory sinking fund redemption due in the year in which such redemption or purchase occurs, but shall be made to mandatory sinking fund redemption for the immediately succeeding and subsequent years.

Extraordinary Mandatory Redemption

The Series 2022 Bonds are subject to extraordinary mandatory redemption prior to maturity by the District in whole or in part, on any date (other than in the case of clause (i) below, which extraordinary mandatory redemption in part must occur on a Quarterly Redemption Date), at a Redemption Price equal to 100% of the principal amount of the Series 2022 Bonds to be redeemed, plus interest accrued to the redemption date, as follows:

from Series 2022 Prepayment Principal deposited into the Series 2022 Prepayment Subaccount of the Series 2022 Bond Redemption Account following the payment in whole or in part of Series 2022 Special Assessments on any assessable property within the District in accordance with the provisions of the Second Supplemental Indenture, together with any excess moneys transferred by the Trustee from the Series 2022 Reserve Account to the Series 2022 Prepayment Subaccount as a result of such Series 2022 Prepayment and pursuant the Second Supplemental Indenture. If such redemption shall be in part, the District shall select such principal amount of Series 2022 Bonds to be redeemed from each maturity so that debt service on the remaining Outstanding Series 2022 Bonds is substantially level;

from moneys, if any, on deposit in the Funds, Accounts and subaccounts held by the Trustee(other than the Series 2022 Rebate Fund and the Series 2022 Acquisition and Construction Accounts) sufficient to pay and redeem all Outstanding Series 2022 Bonds and accrued interest thereon to the redemption date or dates in addition to all amounts owed to Persons under the Master Indenture; and

upon the Completion Date, from any funds remaining on deposit in the respective Series 2022 Acquisition and Construction Accounts in accordance with the provisions the Second Supplemental Indenture, not otherwise reserved to complete the Series 2022 Project and transferred to the Series 2022 General Redemption Subaccount of the Series 2022 Bond Redemption Account. If such redemption shall be in part, the District shall select such principal amount of Series 2022 Bonds to be redeemed from each maturity so that debt service on the remaining Outstanding Series 2022 Bonds is substantially level.

[Remainder of page intentionally left blank.]
EXHIBIT C

BOND COUNSEL'S SUPPLEMENTAL OPINION

 	, 2022

North Powerline Road Community Development District City of Davenport, Florida

FMSbonds, Inc.
North Miami Beach, Florida

Re:	$ 	North Powerline Road Community Development District (Polk County, Florida) Special Assessment Bonds, Series 2022

Ladies and Gentlemen:

We have acted as Bond Counsel to the North Powerline Road Community Development District (the "District"), a community development district established and existing pursuant to Chapter 190 of the Florida Statutes, as amended (the "Act"), in connection with the issuance by the District of its $ 	 aggregate principal amount of Special Assessment Bonds, Series 2022 (the "Series 2022 Bonds"). In such capacity, we have rendered our final approving opinion (the "Opinion") of even date herewith relating to the Series 2022 Bonds. The Series 2022 Bonds are secured pursuant to that certain Master Trust Indenture, dated as of December 1, 2020 (the "Master Indenture"), as supplemented by that certain Second Supplemental Trust Indenture, dated as of March 1, 2022 (the "Second Supplemental Indenture" and, together with the Master Indenture, the "Series 2022 Indenture") each by and between the District and U.S. Bank Trust Company, National Association, as trustee (the "Trustee").

In connection with the rendering of the Opinion, we have reviewed records of the acts taken by the District in connection with the authorization, sale and issuance of the Series 2022 Bonds, were present at various meetings and participated in various discussions in connection therewith and have reviewed such other documents, records and other instruments as we deem necessary to deliver this opinion.

The District has entered into a Bond Purchase Contract dated 	, 2022 (the "Purchase Contract"), for the purchase of the Series 2022 Bonds. Capitalized words used, but not defined, herein shall have the meanings ascribed thereto in the Purchase Contract.

Based upon the forgoing, we are of the opinion that:

The sale of the Series 2022 Bonds by the District is not subject to the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to the exemption provided in Section 3(a)(2) of the Securities Act.

The Series 2022 Indenture is exempt from qualification pursuant to the Trust Indenture Act of 1939, as amended.

The information in the Limited Offering Memorandum under the captions "INTRODUCTION," "DESCRIPTION OF THE SERIES 2022 BONDS," and "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2022 BONDS" insofar as such statements constitute
descriptions of the Series 2022 Bonds or the Series 2022 Indenture, are accurate as to the matters set forth or documents described therein (provided, we express no opinion with respect to any financial, statistical and demographic information and information under the caption "DESCRIPTION OF THE SERIES 2022 BONDS - Book-Entry Only System," and any other information in the Limited Offering Memorandum concerning DTC and its book-entry system of registration), and the information under the captions "TAX MATTERS" and "AGREEMENT BY THE STATE" are correct as to matters of law.

This letter is furnished by us as Bond Counsel. No attorney-client relationship has existed or exists between our firm and FMSbonds, Inc. (the "Underwriter") in connection with the Series 2022 Bonds or by virtue of this letter. This letter is delivered to the Underwriter solely for its benefit as Underwriter and may not be used, circulated, quoted or otherwise referred to or relied upon by the Underwriter for any other purpose or by any other person other than the addressees hereto. This letter is not intended to, and may not be, relied upon by holders of the Series 2022 Bonds.

Respectfully submitted,
EXHIBIT D

ISSUER'S COUNSEL'S OPINION

 	, 2022

North Powerline Road Community Development District Polk County, Florida

FMSbonds, Inc.
North Miami Beach, Florida

U.S. Bank, National Association, as Trustee Orlando, Florida
(solely for reliance upon Sections C.1., C.2. and C.3.)

Re:	$ 	North Powerline Road Community Development District Special
Assessment Bonds, Series 2022 Ladies and Gentlemen:
We serve as counsel to the North Powerline Road Community Development District (the "District"), a local unit of special-purpose government established pursuant to the laws of the State of Florida, in connection with the sale by the District of its $ 	North Powerline Road Community Development District Special Assessment Bonds, Series 2022 (the "Bonds"). This letter is delivered to you pursuant to Sections 3.01(2) and 3.01(3), of the Master Indenture (defined below), Section 2.09(c) of the Second Supplemental Trust Indenture (defined below), and Section 8(c)(6) of the Bond Purchase Contract (referenced below), and is effective as of the date first written above. Each capitalized term not otherwise defined herein has the meaning given it to it in the Indenture (defined herein).

DOCUMENTS EXAMINED

In rendering the opinions set forth below, we have examined and/or relied upon the following documents and have made such examination of law as we have deemed necessary or appropriate:

Ordinance No. 18-036 enacted by the Board of County Commissioners of Polk County, Florida (the "County") on June 5, 2018, as amended by Ordinance Nos. 20-028, 20-046 and 22-001, enacted by the Board of County Commissioners of Polk County, Florida on June 16, 2020, December 2, 2020 and January 4, 2022, respectively, as approved and consented to by the City Commission of the City of Davenport, Florida (the "City"), by Resolution Nos. 387-18, 456-20 and 474-21, adopted on March 19, 2018, November 16, 2020 and December 6, 2021, respectively (collectively, the "Ordinance");
the Master Trust Indenture, dated as of December 1, 2020 ("Master Indenture"), as supplemented with respect to the Series 2022 Bonds by the Second Supplemental Trust Indenture, dated as of March 1, 2022 ("Second Supplemental Trust Indenture" and, together with the Master Indenture, "Indenture"), each by and between the District and
U.S. Bank Trust Company, National Association, as trustee ("Trustee");
Resolutions Nos. 2018-25, 2021-23 and 2022-06 adopted by the District on July 18, 2018, September 22, 2021 and February 23, 2022, respectively (collectively, "Bond Resolution");
Engineer's Report for Capital Improvements, Third Amended and Restated, dated October 2021, (the "Engineer's Report") which describes among other things, the capital infrastructure improvements for the District (the "Series 2022 Project");
Master Assessment Methodology for North Power Line Road Community Development District dated February 5, 2020, as supplemented by the Supplemental Assessment Methodology, dated 	, 2022 (together, the "Assessment Methodology");
6.	Resolution Nos. [2018-23, 2018-24, 2018-32, 2020-04, 2020-05, 2020-08, 2020-11, 2020-
12, 2020-15 and 2022- ] (collectively, "Assessment Resolution"), establishing the debt service special assessments ("Debt Assessments"), securing a portion of the Bonds;
the Final Judgment issued on September 25, 2018, by the Circuit Court for the Tenth Judicial Circuit in and for Polk County, Florida in Case No. 53-2018-CA-002951 and the Certificate of No Appeal issued on October 29, 2018;
the Preliminary Limited Offering Memorandum dated 	, 2022 ("PLOM") and Limited Offering Memorandum dated 	, 2022 ("LOM");
certain certifications by FMSbonds, Inc. ("Underwriter"), as underwriter to the sale of the Bonds;
certain certifications of Absolute Engineering, Inc., as District Engineer;
certain certifications of Governmental Management Services – Central Florida, LLC, as District Manager;
certain certifications of Governmental Management Services – Central Florida, LLC, as Methodology Consultant;
general and closing certificate of the District;
an opinion of Greenberg Traurig, P.A. ("Bond Counsel"), issued to the District in connection with the sale and issuance of the Bonds;
an opinion of Aponte & Associates Law Firm, P.L.L.C. ("Trustee Counsel"), issued to the District and Underwriter in connection with the sale and issuance of the Bonds;
an opinion of Straughn & Turner, P.A., counsel to the Landowners (defined herein), issued to the District and the Underwriter in connection with the sale and issuance of the Bonds;
the following agreements ("Bond Agreements"):
the Continuing Disclosure Agreement dated 	, 2022, by and among the District, GLK Real Estate, LLC, a Florida limited liability company the "Phase 3 Landowner") and CH Dev, LLC, a Florida limited liability company (the "Phase 4 Landowner" and, together with the Phase 3 Landowner, the "Landowners") and Governmental Management Services-Central Florida, LLC, as dissemination agent;
the Bond Purchase Contract between Underwriter and the District and dated
 	, 2022 ("BPA");
the Acquisition Agreements (Series 2022 Bonds), between the District and the Landowners, dated 	, 2022;
the Completion Agreements (Series 2022 Bonds), between the District and the Landowners and dated 	, 2022;
the True-Up Agreements (Series 2022 Bonds), between the District and the Landowners, dated 	, 2022;
the Collateral Assignment and Assumption Agreements (Series 2022 Bonds), between the District and the Landowners and dated 	, 2022;
Declarations of Consent to Jurisdiction executed by the Landowners;
Certificates of the Landowners;
The following Executive Orders of Governor DeSantis of the State of Florida: 2020-52 issued March 9, 2020 and 2020-69 issued March 20, 2020, as amended, extended and supplemented, respectively; and
such other documents as we have deemed necessary or appropriate in rendering the opinions set forth below.
We have also attended various meetings of the District and have participated in conferences from time to time with representatives of the District, the District Engineer, the District Manager, the Assessment Consultant, the Underwriter, Bond Counsel, counsel to the Underwriter, the Landowners, counsel to the Landowners, and others relative to the Limited Offering Memorandum and the related documents described herein.

RELIANCE

This opinion is solely for the benefit of the (i) District; (ii) the Underwriter; and (iii) the Trustee; however, the Trustee may only rely on this opinion for the limited purposes of the opinions stated in Sections C.1, C.2, and C.3. This opinion may not be relied on by any other party or for any other purpose without our prior written consent.

OPINIONS

Based on the foregoing, and subject to the qualifications and assumptions set forth herein, we are of the opinion that:

Authority – Under the Florida Constitution and laws of the State, the District has been duly established and validly exists as a local unit of special purpose government and a community development district under Chapter 190, Florida Statutes (the "Act"), with such powers as set forth in the Act, and with good, right and lawful authority: (a) to enter into and to consummate the transactions contemplated by the Bond Resolution, the Assessment Resolution, the Indenture, the Bonds and the Bond Agreements; (b) to issue the Bonds for the purposes for which they are issued; (c) to impose, levy, collect and enforce the Debt Assessments and pledge the Pledged Revenues to secure the Bonds as provided in the Indenture; (d) to adopt the Bond Resolution and the Assessment Resolution; and (e) to perform its obligations under the terms and conditions of the Bond Resolution, the Assessment Resolution, the Bond Agreements, the Bonds and the Indenture.

Assessments – The proceedings by the District with respect to the Debt Assessments have been in accordance with Florida law. The District has taken all action necessary to levy and impose the Debt Assessments as set forth in the Assessment Resolution. The Debt Assessments constitute legal, valid, binding and enforceable first liens upon the property against which such Debt Assessments are assessed, co-equal with the lien of all state, county, district and municipal taxes and assessments, and superior in dignity to all other liens, titles and claims, until paid.

Agreements – The (a) Bond Resolution, (b) Assessment Resolution, (c) Bonds, (d) Indenture, and (e) Bond Agreements (assuming due authorization, execution and delivery of documents (c)
– (e) listed herein by any parties thereto other than the District) have been duly and validly authorized, executed and delivered by the District, have been duly approved and adopted and/or issued by the District, are in full force and effect, constitute legal, valid and binding obligations of the District, and are enforceable against the District in accordance with their respective terms. All conditions prescribed in the Indenture as precedent to the issuance of the Bonds have been fulfilled.

Validation – The District has validated up to $22,000,000 in Special Assessment Bonds that have been validated by a final judgment of the Tenth Circuit in and for Polk County, Florida, of which no timely appeal was filed.

Governmental Approvals – As of the date hereof, all necessary consents, approvals, waivers or other actions by or filings with any governmental authority or other entity that are required for:
(a) the adoption of the Bond Resolution and the Assessment Resolution; (b) the issuance, sale, execution and delivery of the Bonds upon the terms set forth in the BPA, PLOM, and LOM; (c) the execution and delivery of the Indenture and Bond Agreements; and (d) the performance by the District of the transactions required hereby, have been duly obtained or made or are reasonably expected to be made.

PLOM and LOM – The District has duly authorized the execution, delivery and distribution by the Underwriter of the PLOM and LOM. To our knowledge, and based upon our review of the PLOM and LOM and without having undertaken to determine independently the accuracy, completeness or fairness of the statements contained in the PLOM and LOM, and as of the date of their respective issuances, and with respect to the PLOM, the date of the BPA, and with respect to the LOM, the date hereof, nothing has come to our attention which would lead us to believe that the PLOM and LOM contain an untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein, in light of the circumstances under which they were made, not misleading, provided however that the opinions stated herein extend only to the following provisions of the PLOM and LOM: "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2022 BONDS – Prepayment of Series 2022 Special Assessments" (as to the first two paragraphs thereof), "ENFORCEMENT OF ASSESSMENT COLLECTIONS," "THE DISTRICT" (excluding the subcaption "The District Manager and Other Consultants"), "THE DEVELOPMENT – Landowners' Agreements" (solely as to the description of the agreements), "AGREEMENT BY THE STATE," "LEGALITY FOR INVESTMENT," "LITIGATION – The District," "CONTINUING DISCLOSURE" (as it relates to the District only), "VALIDATION," and "AUTHORIZATION AND APPROVAL," and further provided however that the opinions stated herein do not extend to any statements that constitute descriptions of the Bonds or the Indenture. No information or opinion is offered as to any remaining provisions of the PLOM or LOM.

Litigation – As the District's Registered Agent for service of process and the fact that we have not been served with notice, there is no litigation pending or, to the best of our knowledge, threatened against the District: (a) seeking to restrain or enjoin the issuance or delivery of the Bonds or the application of the proceeds thereof, or the imposition, levy or collection of the Debt Assessments or the Pledged Revenues pledged for the payment of the debt service on the Bonds; (b) contesting or affecting the authority for the Debt Assessments, the authority for the issuance of the Bonds or the validity or enforceability of the Bonds, the Indenture, the Bond Agreements or the transactions contemplated thereunder; (c) contesting or affecting the establishment or existence of the District or any of its Supervisors, officers or employees, its assets, property or condition, financial or otherwise, or contesting or affecting any of the powers of the District, including its power to enter into the Indenture or the Bond Agreements, or its power to determine, assess, levy, collect and pledge the Debt Assessments for the payment of the debt service on the Bonds; or
(d) specifically contesting the exclusion from federal gross income of interest on the Bonds.

Compliance with Laws – To the best of our knowledge, the District is not, in any manner material to the issuance of the Bonds or the Debt Assessments, in breach of or default under any applicable provision of the Act or constitutional provision, statute, or administrative regulation of the State of Florida, or any applicable judgment or decree, any loan agreement, indenture, bond, note, resolution, agreement (including the Bond Agreements and Indenture), or any other material instrument to which the District is a party or to which the District or any of its property or assets is otherwise subject, and to the best of our knowledge, no event has occurred and is continuing which with the passage of time or the giving of notice, or both, would constitute a material default or event of default by the District under any such instrument; provided, however, that no opinion is expressed as to compliance with any state or federal tax or securities laws.

Authority to Undertake the Series 2022 Project – The District has good right and lawful authority under the Act to undertake, finance, acquire, construct, own, and operate the Series 2022 Project,
subject to obtaining such licenses, orders or other authorizations as are, at the date of such opinion, required to be obtained from any agency or regulatory body.

CERTAIN ASSUMPTIONS

In rendering the foregoing opinions, we have assumed the following: (1) that all public records, certifications, agreements and other documents examined by us that have been executed or certified by public officials acting within the scope of their official capacities are authentic, truthful and accurate; (2) that copies of such public records, certifications, agreements, and other documents furnished to us are authentic and conform to the originals; (3) that all signatures on executed public records, certifications, agreements and other documents are genuine; and (4) that all public records, certifications, agreements and other documents have been properly authorized and are binding on each of the other parties thereto. Such assumptions do not apply to District documents. We have also assumed the legality and validity of the following Executive Orders of Governor DeSantis of the State of Florida: 2020-52 issued March 9, 2020 and 2020-69 issued March 20, 2020, as amended, extended and supplemented, respectively.

CERTAIN QUALIFICATIONS

The foregoing opinions are subject to the following qualifications:

The opinions or statements expressed above are based solely on the laws of Florida in effect at the time of issuance of the Bonds. Accordingly, we express no opinion nor make any statement regarding the effect or application of the laws of the federal government (including but not limited to the Internal Revenue Code or any proposed changes thereto), or any other state or other jurisdiction.

Our opinion as to enforceability of any document is subject to limitations imposed by bankruptcy, insolvency, reorganization, moratorium, liquidation, readjustment of debt, or similar laws, relating to or affecting creditors' rights generally and general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law), and to the exercise of judicial discretion in appropriate cases, including the fact that specific performance and other equitable remedies are granted only in the discretion of a court.

Nothing herein shall be construed as an opinion regarding the possible applicability of state securities or "blue sky" laws or federal securities laws, as to which no opinion is expressed.

We further express no opinion as to the necessity for an interest rate waiver under Florida law, or the applicability of any provision or section of the Internal Revenue Code. We express no opinion as to compliance with any state or federal tax laws.

We express no opinion and make no representations regarding financial information, statistical data, or assessment and benefit calculations.

We have not reviewed, and therefore express no opinion, regarding any land use, real property or other related items, including but not limited to whether the Landowners are able to convey good and marketable title to any particular real property or interest therein and related to the Series 2022 Project.

With respect to any of the opinions set forth in this letter which are based on or qualified by the phrase "to our knowledge," the words "to our knowledge" signify that, in the course of our representation of the District, no facts have come to our attention that would give us actual knowledge that any such opinions or other matters are not accurate. Except to the extent expressly set forth herein, we have
not undertaken any independent investigation to determine the existence or absence of any such facts, and no inference as to our knowledge of the existence of such facts should be drawn from the fact of our representation of District.

The opinions set forth herein are based on factual representations made to us as of the date hereof. We assume no duty to update or supplement our opinions to reflect any facts or circumstances that may thereafter come to our attention, or to reflect any changes in law that may thereafter occur or become effective. Moreover, our opinions are not a guarantee of a particular result, and are not binding on the courts or any other entity; rather, our opinions represent our professional judgment based on our review of existing law, and in reliance on the representations and covenants that we deem relevant to such opinions

Very truly yours,

KE LAW GROUP, PLLC
EXHIBIT E

LANDOWNERS' COUNSEL'S OPINION

 	, 2022

North Powerline Road Community Development District Polk County, Florida

FMSbonds, Inc.
North Miami Beach, Florida

U.S. Bank Trust Company, National Association Orlando, Florida

Greenberg Traurig, P.A.
Miami, Florida

GrayRobinson, P.A.
Tampa, Florida

Re:	$ 	North Powerline Road Community Development District Special
Assessment Bonds, Series 2022 (the "Bonds") Ladies and Gentlemen:
I am counsel to GLK Real Estate, LLC, a Florida limited liability company the "Phase 3
Landowner") and CH Dev, LLC, a Florida limited liability company (the "Phase 4 Landowner" and, together with the Phase 3 Landowner, the "Landowners"), which are the owners of certain land within the planned community located in the Polk County, Florida and commonly referred to as "Bella Vita," as such lands are described in the Limited Offering Memoranda (as hereinafter defined). This opinion is rendered at the request of the Landowners in connection with the issuance by the North Powerline Road Community Development District (the "District") of the above-referenced Bonds, as further described in the District's Preliminary  Limited  Offering Memorandum dated 	, 2022 and the District's final Limited Offering Memorandum, dated 	, 2022, including the appendices attached thereto (collectively, the "Limiting Offering Memoranda"). Capitalized terms not defined herein shall have the meaning set forth in the Limited Offering Memoranda.

It is my understanding that the Series 2022 Bonds are being issued for the purposes of: (i) providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2022 Project, (ii) funding a deposit to the Series 2022 Reserve Account in the amount of the Series 2022 Reserve Requirement, (iii) paying a portion of the interest coming due on the Series 2022 Bonds and (iv) paying the costs of issuance of the Series 2022 Bonds.

In my capacity as counsel to the Landowners, I have examined originals or copies identified to my satisfaction as being true copies of the Limiting Offering Memoranda, the Continuing Disclosure Agreement to be dated as of the Closing Date (the "Continuing Disclosure Agreement"), by and among the District, the Landowners, and Governmental Management Services – Central Florida, LLC, as dissemination agent, the Agreements Regarding the Completion of Certain Improvements by and between
the District and each of the Landowners dated as of the Closing Date (the "Completion Agreements"), the Agreements Regarding the Acquisition of Real Property by and between the District and each of the Landowners dated as of the Closing Date (the "Acquisition Agreements"), the Collateral Assignments and Assumptions of Development Rights Relating to the Series 2022 Project by and between the District and each of the Landowners dated as of the Closing Date (the "Collateral Assignments"), the Agreements Regarding True-Up as to Series 2022 by and between the District and each of the Landowners dated as of the Closing Date (the "True-Up Agreements"), and the Declarations of Consent to Jurisdiction of the District, Imposition of Special Assessments and Imposition of Lien of Record dated as of the Closing Date and executed by each of the Landowners (the "Declarations of Consent") (collectively, the "Documents") and have made such examination of law as I have deemed necessary or appropriate in rendering this opinion. In connection with the forgoing, I also have reviewed and examined (i) with respect to the Phase 3 Landowner, the Articles of Organization filed on June 26, 2020 and the Operating Agreement dated as of June 26, 2020, (ii) with respect to the Phase 4 Landowner, the Articles of Organization filed on October 21, 2020, and the Operating Agreement dated as of October 30, 20 , and (iii) certificates of good standing issued by the State of Florida for each of the Landowners on , 2022 (collectively, the "Organizational Documents").

In rendering this opinion, I have assumed, without having made any independent investigation of the facts, the genuineness of all signatures (other than those of the Landowners) and the authenticity of all documents submitted to me as originals and the conformity to original documents of all documents submitted to me as certified, conformed or photostatic copies, and the legal capacity of all natural persons.

In basing the opinions set forth in this opinion on "my knowledge," the words "my knowledge" signify that, in the course of my representation of the Landowners, no facts have come to my attention that would give me actual knowledge or actual notice that any such opinions or other matters are not accurate. Except as otherwise stated in this opinion, I have undertaken no investigation or verification of such matters.

Based on the forgoing, I am of the opinion that:

The Landowners are limited liability companies organized and existing under the laws of the State of Florida.

The Landowners have the power to conduct their business and to undertake the funding of the development of the District Lands as described in the Limited Offering Memoranda and to enter into the Documents.

The Documents have been duly authorized, executed and delivered by the Landowners and are in full force and effect. Assuming the due authorization, execution and delivery of such instruments by the other parties thereto and their authority to perform such instruments, the Documents constitute legal, valid and binding obligations of the Landowners, enforceable in accordance with their respective terms.

Nothing has come to my attention that would lead me to believe the information contained in the Limited Offering Memoranda under the captions "THE DEVELOPMENT," "THE LANDOWNERS," "LITIGATION – The Landowners," and "CONTINUING DISCLOSURE" (as it relates to the Landowners only) does not accurately and fairly present the information purported to be shown or contains any untrue statement of a material fact nor omits to state any material fact necessary to make the statement made therein, in light of the circumstances under which they were made, not misleading as of the dates of the Limited Offering Memoranda or as of the date hereof.

The execution, delivery and performance of the Documents by the Landowners do not violate (i) the operating agreements of the Landowners, (ii) to my knowledge, any agreement, instrument
or Federal or Florida law, rule or regulation known to me to which the Landowners are a party or by which any of such entity's assets are or may be bound; or (iii) to my knowledge, any judgment, decree or order of any administrative tribunal, which judgment, decree, or order is binding on the Landowners or their assets.

Nothing has come to my attention that would lead me to believe that the Landowners are not in compliance in all material respects with all provisions of applicable law in all material matters relating to such entity as described in the Limited Offering Memoranda. Except as otherwise described in the Limited Offering Memoranda, (a) I have no knowledge that the Landowners have not received all government permits, consents and licenses required in connection with the construction and completion of the development of the Series 2022 Project and the District Lands as described in the Limited Offering Memoranda; (b) I have no knowledge of any default of any zoning condition, land use permit or development agreement which would adversely affect the Landowners' ability to complete development of the Series 2022 Project and the District Lands as described in the Limited Offering Memoranda and all appendices thereto; and (c) I have no knowledge and am not otherwise aware of any reason to believe that any permits, consents and licenses required to complete the development of the lands in the District as described in the Limited Offering Memoranda will not be obtained in due course as required by the Landowners.

To the best of my knowledge after due inquiry, the levy of the Series 2022 Special Assessments on the applicable lands within the District will not conflict with or constitute a breach of or default under any agreement, indenture or other instrument to which the Landowners are a party or to which the Landowners or any of their property or assets are subject.

To the best of my knowledge after due inquiry, there is no litigation pending which would prevent or prohibit the development of the Series 2022 Project or the District Lands in accordance with the descriptions thereof in the Limited Offering Memoranda and the Engineer's Report annexed thereto or which may result in any material adverse change in the respective business, properties, assets or financial condition of the Landowners.

To the best of my knowledge after due inquiry, the Landowners have not made an assignment for the benefit of creditors, filed a petition in bankruptcy, petitioned or applied to any tribunal for the appointment of a custodian, receiver or any trustee or commenced any proceeding under any bankruptcy, reorganization, arrangement, readjustment of debt, dissolution or liquidation law or statute of any jurisdiction. To the best of my knowledge after due inquiry, the Landowners have not indicated their consent to, or approval of, or failed to object timely to, any petition in bankruptcy, application or proceeding or order for relief or the appointment of a custodian, receiver or any trustee.

To the best of my knowledge after due inquiry, the Landowners are not in default under any mortgage, trust indenture, lease or other instrument to which they or any of their respective assets are subject, which default would have a material adverse effect on the Series 2022 Bonds or the development of the Series 2022 Project or the District Lands.

This opinion is given as of the date hereof, and I disclaim any obligation to update this opinion letter for events occurring after the date of this opinion letter. The foregoing opinion applies only with respect to the laws of the State of Florida and the federal laws of the United States of America and I express no opinion with respect to the laws of any other jurisdiction. Nothing herein shall be construed as an opinion regarding the possible applicability of state securities or "blue sky" laws, as to which no opinion is expressed. This letter is for the benefit of and may be relied upon solely by the addressees and this opinion may not be relied upon in any manner, nor used, by any other persons or entities.
My opinion as to enforceability of any document is subject to limitations imposed by bankruptcy, insolvency, reorganization, moratorium, liquidation, readjustment of debt, or similar laws relating to or affecting creditor's rights generally and general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law), and to the exercise of judicial discretion in appropriate cases.

Very truly yours,

STRAUGHN & TURNER, P.A.
EXHIBIT F

CERTIFICATE OF GLK REAL ESTATE, LLC

GLK Real Estate, LLC, a Florida limited liability company ("GLK"), DOES HEREBY CERTIFY,
that:

This Certificate of GLK Real Estate, LLC is furnished pursuant to Section 8(c)(10) of the Bond  Purchase Contract dated 		, 2022 (the "Purchase Contract") between North Powerline Road Community Development District (the "District") and FMSbonds, Inc. (the "Underwriter") relating to the sale by the District of its $ 	original aggregate principal amount of North Powerline Road Community Development District Special Assessment Bonds, Series 2022 (the "Series 2022 Bonds"). Capitalized terms used, but not defined, herein shall have the meaning assigned thereto in the Purchase Contract.

GLK is a limited liability company organized and existing under the laws of the State of
Florida.

Representatives of GLK have provided information to the District to be used in connection with the offering by the District of its Series 2022 Bonds, pursuant to a Preliminary Limited Offering Memorandum dated 	, 2022 and the Limited Offering Memorandum, dated 	, 2022, including the appendices attached thereto (collectively, the "Limited Offering Memoranda").

The Declaration of Consent to Jurisdiction of North Powerline Road Community Development District and to Imposition of Special  Assessments dated 	, 2022 executed by GLK and to be recorded in the public records of Polk County, Florida (the "Declaration of Consent"), constitutes a valid and binding obligation of GLK, enforceable against GLK in accordance with its terms.

GLK has reviewed and approved the information contained in the Limited Offering Memoranda under the captions "THE CAPITAL IMPROVEMENT PLAN AND THE SERIES 2022 PROJECT," "THE DEVELOPMENT," "THE LANDOWNERS," "BONDOWNERS' RISKS" (as it relates to GLK, the Development and non-specific Bondholder risks), "LITIGATION – The Landowners" and "CONTINUING DISCLOSURE" (as it relates to GLK) and warrants and represents that such information did not as of their respective dates, and does not as of the date hereof, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. In addition, GLK is not aware of any other information in the Limited Offering Memoranda that contains an untrue statement of a material fact or omits to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

GLK represents and warrants that it has complied with and will continue to comply with Chapter 190.048, Florida Statutes, as amended.

As of the date hereof, there has been no material adverse change in the business, properties, assets or financial condition of GLK which has not been disclosed in the Limited Offering Memoranda.

GLK hereby represents that it owns that the lands in Phase 3 of the District that will be subject to the Series 2022 Special Assessments as described in the Limited Offering Memoranda, and GLK hereby consents to the levy of the Series 2022 Special Assessments on the lands in the Series 2022 Assessment Area owned by GLK. The levy of the Series 2022 Special Assessments on the lands in the
Series 2022 Assessment Area will not conflict with or constitute a breach of or default under any agreement, mortgage, lien or other instrument to which GLK is a party or to which its property or assets are subject.

GLK has not made an assignment for the benefit of creditors, filed a petition in bankruptcy, petitioned or applied to any tribunal for the appointment of a custodian, receiver or any trustee or commenced any proceeding under any bankruptcy, reorganization, arrangement, readjustment of debt, dissolution or liquidation law or statute of any jurisdiction. GLK has not indicated its consent to, or approval of, or failed to object timely to, any petition in bankruptcy, application or proceeding or order for relief or the appointment of a custodian, receiver or any trustee.

GLK acknowledges that the Series 2022 Bonds have the debt service requirements set forth in the Limited Offering Memorandum and that the Series 2022 Special Assessments will be levied by the District at times, and in amounts sufficient, to enable the District to pay debt service on the Series 2022 Bonds when due.

To the best of our knowledge, GLK is not in default under any other resolution, ordinance, agreement or indenture, mortgage, lease, deed of trust, note or other instrument to which GLK is subject or by which GLK or its properties are or may be bound, which would have a material adverse effect on the consummation of the transactions contemplated by the Financing Documents, Ancillary Documents, the Declaration of Consent or on the Development and is current in the payment of all ad valorem, federal and state taxes associated with the Development.

Except as otherwise disclosed in the Limited Offering Memoranda, there is no action, suit or proceedings at law or in equity by or before any court or public board or body pending or, solely to the best of our knowledge, threatened against GLK (or any basis therefor) (a) seeking to restrain or enjoin the execution or delivery of Financing Documents, Declaration of Consent and/or Ancillary Documents to which GLK is a party, (b) contesting or affecting the validity or enforceability of the Financing Documents, Declaration of Consent and/or Ancillary Documents, or any and all such other agreements or documents as may be required to be executed, or the transactions contemplated thereunder, (c) contesting or affecting the establishment or existence of GLK or of GLK's business, assets, property or conditions, financial or otherwise, or contesting or affecting any of the powers of GLK, or (d) that would have a material and adverse effect upon the ability of GLK to (i) complete the development of the District Lands as described in the Limited Offering Memoranda, (ii) pay the Series 2022 Special Assessments, or (iii) perform its various obligations as described in the Limited Offering Memoranda.

To the best of our knowledge after due inquiry, GLK is in compliance in all material respects with all provisions of applicable law in all material matters relating to the Development as described in the Limited Offering Memoranda, including applying for all necessary permits. Except as otherwise described in the Limited Offering Memoranda, (a) the Development is zoned and properly designated for its intended use; (b) all government permits other than certain permits, which permits are expected to be received as needed, have been received; (c) GLK is not aware of any default of any zoning condition, permit or development agreement which would adversely affect GLK's ability to complete or cause the completion of development of the Series 2022 Assessment Area as described in the Limited Offering Memoranda and all appendices thereto; and (d) there is no reason to believe that any permits, consents and licenses required to complete the development of the Series 2022 Assessment Area as described in the Offering Memoranda will not be obtained as required.

GLK acknowledges that it will have no rights under Chapter 170, Florida Statutes, as amended, to prepay, without interest, the Series 2022 Special Assessments imposed on lands in the Series 2022 Assessment Area owned by GLK within thirty (30) days following completion of the Series 2022 Project and acceptance thereof by the District.
Except as disclosed in the Limited Offering Memoranda, GLK has not in the last five years failed to materially comply with its obligations under any continuing disclosure undertakings entered into pursuant to SEC Rule 15c2-12.

GLK is not in default of any obligations to pay special assessments, and GLK is not insolvent.

Dated: 	, 2022.	GLK REAL ESTATE, LLC, a Florida limited liability company

By:  	
 	, its Manager
CERTIFICATE OF CH DEV, LLC

CH Dev, LLC, a Florida limited liability company ("CH DEV"), DOES HEREBY CERTIFY, that:

This Certificate of CH DEV, LLC is furnished pursuant to Section 8(c)(10) of the Bond Purchase Contract dated 	, 2022 (the "Purchase Contract") between North Powerline Road Community Development District (the "District") and FMSbonds, Inc. (the "Underwriter") relating to the sale by the District of its $ 		original aggregate principal amount of North Powerline Road Community Development District Special Assessment Bonds, Series 2022 (the "Series 2022 Bonds"). Capitalized terms used, but not defined, herein shall have the meaning assigned thereto in the Purchase Contract.

CH DEV is a limited liability company organized and existing under the laws of the State of Florida.

Representatives of CH DEV have provided information to the District to be used in connection with the offering by the District of its Series 2022 Bonds, pursuant to a Preliminary Limited Offering  Memorandum  dated 	, 2022 and the Limited Offering Memorandum, dated
 	, 2022, including the appendices attached thereto (collectively, the "Limited Offering Memoranda").

The Declaration of Consent to Jurisdiction of North Powerline Road Community Development District and to Imposition of Special  Assessments dated 	, 2022 executed by CH DEV and to be recorded in the public records of Polk County, Florida (the "Declaration of Consent"), constitutes a valid and binding obligation of CH DEV, enforceable against CH DEV in accordance with its terms.

CH DEV has reviewed and approved the information contained in the Limited Offering Memoranda under the captions "THE CAPITAL IMPROVEMENT PLAN AND THE SERIES 2022 PROJECT," "THE DEVELOPMENT," "THE LANDOWNERS," "BONDOWNERS' RISKS" (as it relates to CH DEV, the Development and non-specific Bondholder risks), "LITIGATION – The Landowners" and "CONTINUING DISCLOSURE" (as it relates to CH DEV) and warrants and represents that such information did not as of their respective dates, and does not as of the date hereof, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. In addition, CH DEV is not aware of any other information in the Limited Offering Memoranda that contains an untrue statement of a material fact or omits to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

CH DEV represents and warrants that it has complied with and will continue to comply with Chapter 190.048, Florida Statutes, as amended.

As of the date hereof, there has been no material adverse change in the business, properties, assets or financial condition of CH DEV which has not been disclosed in the Limited Offering Memoranda.

CH DEV hereby represents that it owns that the lands in the District that will be subject to the Series 2022 Special Assessments as described in the Limited Offering Memoranda, and CH DEV hereby consents to the levy of the Series 2022 Special Assessments on the lands in the Series 2022 Assessment Area owned by CH DEV. The levy of the Series 2022 Special Assessments on the lands in the Series 2022
Assessment Area will not conflict with or constitute a breach of or default under any agreement, mortgage, lien or other instrument to which CH DEV is a party or to which its property or assets are subject.

CH DEV has not made an assignment for the benefit of creditors, filed a petition in bankruptcy, petitioned or applied to any tribunal for the appointment of a custodian, receiver or any trustee or commenced any proceeding under any bankruptcy, reorganization, arrangement, readjustment of debt, dissolution or liquidation law or statute of any jurisdiction. CH DEV has not indicated its consent to, or approval of, or failed to object timely to, any petition in bankruptcy, application or proceeding or order for relief or the appointment of a custodian, receiver or any trustee.

CH DEV acknowledges that the Series 2022 Bonds have the debt service requirements set forth in the Limited Offering Memorandum and that the Series 2022 Special Assessments will be levied by the District at times, and in amounts sufficient, to enable the District to pay debt service on the Series 2022 Bonds when due.

To the best of our knowledge, CH DEV is not in default under any other resolution, ordinance, agreement or indenture, mortgage, lease, deed of trust, note or other instrument to which CH DEV is subject or by which CH DEV or its properties are or may be bound, which would have a material adverse effect on the consummation of the transactions contemplated by the Financing Documents, Ancillary Documents, the Declaration of Consent or on the Development and is current in the payment of all ad valorem, federal and state taxes associated with the Development.

Except as otherwise disclosed in the Limited Offering Memoranda, there is no action, suit or proceedings at law or in equity by or before any court or public board or body pending or, solely to the best of our knowledge, threatened against CH DEV (or any basis therefor) (a) seeking to restrain or enjoin the execution or delivery of Financing Documents, Declaration of Consent and/or Ancillary Documents to which CH DEV is a party, (b) contesting or affecting the validity or enforceability of the Financing Documents, Declaration of Consent and/or Ancillary Documents, or any and all such other agreements or documents as may be required to be executed, or the transactions contemplated thereunder, (c) contesting or affecting the establishment or existence of CH DEV or of CH DEV's business, assets, property or conditions, financial or otherwise, or contesting or affecting any of the powers of CH DEV, or (d) that would have a material and adverse effect upon the ability of CH DEV to (i) complete the development of the District Lands as described in the Limited Offering Memoranda, (ii) pay the Series 2022 Special Assessments, or (iii) perform its various obligations as described in the Limited Offering Memoranda.

To the best of our knowledge after due inquiry, CH DEV is in compliance in all material respects with all provisions of applicable law in all material matters relating to the Development as described in the Limited Offering Memoranda, including applying for all necessary permits. Except as otherwise described in the Limited Offering Memoranda, (a) the Development is zoned and properly designated for its intended use; (b) all government permits other than certain permits, which permits are expected to be received as needed, have been received; (c) CH DEV is not aware of any default of any zoning condition, permit or development agreement which would adversely affect CH DEV's ability to complete or cause the completion of development of the Series 2022 Assessment Area as described in the Limited Offering Memoranda and all appendices thereto; and (d) there is no reason to believe that any permits, consents and licenses required to complete the development of the Series 2022 Assessment Area as described in the Offering Memoranda will not be obtained as required.

CH DEV acknowledges that it will have no rights under Chapter 170, Florida Statutes, as amended, to prepay, without interest, the Series 2022 Special Assessments imposed on lands in the Series 2022 Assessment Area owned by CH DEV within thirty (30) days following completion of the Series 2022 Project and acceptance thereof by the District.
CH DEV has not previously entered into any continuing disclosure undertakings pursuant to SEC Rule 15c2-12.

CH DEV is not in default of any obligations to pay special assessments, and CH DEV is not insolvent.

Dated: 	, 2022.	CH DEV REAL ESTATE, LLC, a Florida
limited liability company

By:  	
Albert B. Cassidy, its Manager
APPENDIX G

CERTIFICATE OF ENGINEER

CERTIFICATE OF ABSOLUTE ENGINEERING, INC. (the "Engineers"), DOES HEREBY
CERTIFY, that:

This certificate is furnished pursuant to Section 8(c)(17) of the Bond Purchase Contract dated 		, 2022 (the "Purchase Contract"), by and between North Powerline Road Community Development District (the "District") and FMSbonds, Inc. with respect to the District's $ 	 original aggregate principal amount of North Powerline Road Community Development District Special Assessment Bonds, Series 2022 (the "Bonds"). Capitalized terms used, but not defined, herein shall have the meaning assigned thereto in the Purchase Contract or the Preliminary Limited Offering Memorandum dated 	, 2022 and the Limited Offering Memorandum, dated 	, 2022, including the appendices attached thereto, relating to the Bonds (collectively, the "Limited Offering Memoranda"), as applicable.

The Engineers have been retained by the District as consulting engineers.

The plans and specifications for the Series 2022 Project (as described in the Limited Offering Memoranda) were approved by all regulatory bodies required to approve them. All environmental and other regulatory permits or approvals required in connection with the construction of the Series 2022 Project were obtained.

The Engineers prepared the report entitled Engineer's Report for Capital Improvements, Third Amended and Restated, dated October 2021 (the "Engineer's Report"). The Report is included as "APPENDIX A: ENGINEER'S REPORT" to the Preliminary Limited Offering Memorandum and the Limited Offering Memorandum and a description of the Report and certain other information relating to the Series 2022 Project are included in the Preliminary Limited Offering Memorandum and the Limited Offering Memorandum under the captions "THE CAPITAL IMPROVEMENT PLAN AND THE SERIES 2022 PROJECT" and "THE DEVELOPMENT." The Report and said information are true and complete in all material respects, contain no untrue statement of a material fact, and do not omit to state a material fact necessary to make the statements made therein, in light of the circumstances under which they were made, not misleading.

The Engineers hereby consent to the inclusion of the Report as "APPENDIX A: ENGINEER'S REPORT" to the Preliminary Limited Offering Memorandum and the Limited Offering Memorandum and to the references to the Engineers in the Preliminary Limited Offering Memorandum and the Limited Offering Memorandum.

The Series 2022 Project is being constructed in sound workmanlike manner and in accordance with industry standards.

The price being paid by the District to the District for acquisition of the improvements included within the Series 2022 Project will not exceed the lesser of the cost of the Series 2022 Project or the fair market value of the assets acquired by the District.

To the best of our knowledge, after due inquiry, the Landowners are in compliance in all material respects with all provisions of applicable law in all material matters relating to the Landowners
and the Development as described in the Limited Offering Memoranda. Except as otherwise described in the Limited Offering Memoranda, (a) all government permits required in connection with the construction of the Development as described in the Limited Offering Memoranda have been received; (b) we are not aware of any default of any zoning condition, land use permit or development agreement which would adversely affect the ability to complete development of the Development as described in the Limited Offering Memoranda and all appendices thereto; and (c) we have no actual knowledge and are not otherwise aware of any reason to believe that any permits, consents and licenses required to complete the Development as described in the Limited Offering Memoranda will not be obtained in due course as required by the Landowners, or any other person or entity, necessary for the development of the Development as described in the Limited Offering Memoranda and all appendices thereto.

There is adequate water and sewer service capacity to serve the Development within the
District.

Date: 	, 2022

ABSOLUTE ENGINEERING, INC.

By:		 Print Name: 	 Title: 		
EXHIBIT H

CERTIFICATE OF DISTRICT MANAGER AND METHODOLOGY CONSULTANT

 	, 2022

North Powerline Road Community Development District Polk County, Florida

FMSbonds, Inc.
North Miami Beach, Florida

Re:	$ 	North Powerline Road Community Development District Special
Assessment Bonds, Series 2022 Ladies and Gentlemen:
The undersigned representative of Governmental Management Services – Central Florida, LLC ("GMS"), DOES HEREBY CERTIFY:

This certificate is furnished pursuant to Section 8(c)(18) of the Bond Purchase Contract dated 	, 2022 (the "Purchase Contract"), by and between North Powerline Road Community Development District (the "District") and FMSbonds, Inc. with respect to the District's $ 	 original aggregate principal amount of North Powerline Road Community Development District Special Assessment Bonds, Series 2022 (the "Series 2022 Bonds"). Capitalized terms used, but not defined, herein shall have the meaning assigned thereto in the Purchase Contract or the Limited Offering Memoranda relating to the Series 2022 Bonds, as applicable.

GMS has acted as district manager and methodology consultant to the District in connection with the sale and issuance by the District of its Series 2022 Bonds and has participated in the preparation of the Preliminary Limited Offering Memorandum dated 	, 2022 and the Limited Offering Memorandum, dated 	, 2022, including the appendices attached thereto (collectively, the "Limited Offering Memoranda").

In connection with the issuance of the Series 2022 Bonds, we have been retained by the District to prepare the Master Assessment Methodology for North Power Line Road Community Development District dated February 5, 2020 (the "Master Methodology") and the Supplemental Assessment Methodology dated 	, 2022 (the "Supplemental Methodology" and, together with the Master Methodology, the "Assessment Methodology"), which Assessment Methodology has been included as an appendix to the Limited Offering Memoranda. We hereby consent to the use of the Assessment Methodology in the Limited Offering Memoranda and consent to the references to us therein.

As District Manager, nothing has come to our attention that would lead us to believe that the Limited Offering Memoranda, as they relate to the District, the Series 2022 Project, or any information provided by us, and the Assessment Methodology, as of their respective dates and as of this date, contained or contains any untrue statement of a material fact or omitted or omits to state a material fact necessary to be stated therein in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.
The information set forth in the Limited Offering Memoranda under the subcaptions "ASSESSMENT METHODOLOGY AND THE ALLOCATION OF ASSESSMENTS," "THE DISTRICT," "FINANCIAL STATEMENTS," "LITIGATION" (insofar as such description relates to the District), "DISCLOSURE REQUIRED BY FLORIDA BLUE SKY REGULATIONS," "CONTINUING DISCLOSURE," "CONTINGENT FEES," and in "APPENDIX E: ASSESSMENT METHODOLOGY" did not as of the respective dates of the Limited Offering Memoranda and does not as of the date hereof contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.

To the best of our knowledge, there has been no change which would materially adversely affect the assumptions made or the conclusions reached in the Assessment Methodology and the considerations and assumptions used in compiling the Assessment Methodology are reasonable. The Assessment Methodology and the assessment methodology set forth therein were prepared in accordance with all applicable provisions of Florida law.

As District Manager for the District, we are not aware of any litigation pending or, to the best of our knowledge, threatened against the District restraining or enjoining the issuance, sale, execution or delivery of the Series 2022 Bonds, or in any way contesting or affecting the validity of the Series 2022 Bonds or any proceedings of the District taken with respect to the issuance or sale thereof, or the pledge or application of any moneys or security provided for the payment of the Series 2022 Bonds, or the existence or powers of the District.

The Series 2022 Special Assessments, as initially levied and as may be reallocated from time to time as permitted by resolutions adopted by the District, are sufficient to enable the District to pay the debt service on the Series 2022 Bonds through the final maturity thereof.

Dated: 	, 2022.	GOVERNMENTAL MANAGEMENT SERVICES – CENTRAL FLORIDA, LLC, a
Florida limited liability company

By:	 Name:	 Title:  	

EXHIBIT C

FORM OF PRELIMINARY LIMITED OFFERING MEMORANDUM

C-1

PRELIMINARY LIMITED OFFERING MEMORANDUM DATED 	, 2022
NEW ISSUES - BOOK-ENTRY-ONLY	NOT RATED
LIMITED OFFERING

In the opinion of Greenberg Traurig, P.A., Bond Counsel, assuming the accuracy of certain representations and certifications of the Landowners and the District and the continuing compliance with certain tax covenants, under existing statutes, regulations, rulings and court decisions, interest on the Series 2022 Bonds (as hereinafter defined) is excludable from gross income for federal income tax purposes; and, further, interest on the Series 2022 Bonds will not be an item of tax preference for purposes of the alternative minimum tax imposed on individuals. See "TAX MATTERS" herein for a description of certain other federal tax consequences of ownership of the Series 2022 Bonds. Bond Counsel is further of the opinion that the Series 2022 Bonds and the income thereon are not subject to taxation under the laws of the State of Florida, except as to estate taxes and taxes under Chapter 220, Florida Statutes, on interest, income or profits on debt obligations owned by corporations as defined in said Chapter 220. See "TAX MATTERS" herein.

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT (POLK COUNTY, FLORIDA)

$8,105,000*
SPECIAL ASSESSMENT BONDS, SERIES 2022
Dated: Date of Delivery	Due: As described herein

The North Powerline Road Community Development District Special Assessment Bonds, Series 2022 (the "Series 2022 Bonds") are being issued by the North Powerline Road Community Development District (the "District" or the "Issuer") in fully registered form, without coupons, in authorized denominations of $5,000 and any integral multiple thereof. The Series 2022 Bonds will bear interest at the fixed rates set forth in the inside cover page hereof, calculated on the basis of a 360-day year comprised of twelve 30-day months, payable semi-annually on each May 1 and November 1, commencing November 1, 2022. The Series 2022 Bonds, when issued, will be registered in the name of Cede & Co., as nominee for The Depository Trust Company ("DTC"), New York, New York. Purchases of beneficial interests in the Series 2022 Bonds will be made in book-entry-only form and purchasers of beneficial interests in the Series 2022 Bonds will not receive physical bond certificates. For so long as the book-entry only system is maintained, the principal of and interest on the Series 2022 Bonds will be paid from the sources provided by the Indenture (as defined herein) by U.S. Bank Trust Company, National Association, as trustee (the "Trustee"), to Cede & Co., as nominee of DTC, as the registered owner thereof. Disbursement of such payments to the DTC Participants is the responsibility of DTC and disbursement of such payments to the beneficial owners is the responsibility of the DTC Participants and Indirect Participants, as more fully described herein. Any purchaser, as a beneficial owner of a Series 2022 Bond, must maintain an account with a broker or dealer who is, or acts through, a DTC Participant in order to receive payment of the principal of, premium, if any, and interest on such Series 2022 Bond. See "DESCRIPTION OF THE SERIES 2022 BONDS – Book-Entry Only System" herein.

The Series 2022 Bonds are being issued for the purposes of: (i) providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2022 Project (as defined herein), (ii) funding a deposit to the Series 2022 Reserve Account in the amount of the Series 2022 Reserve Requirement (each as defined herein), (iii) paying a portion of the interest coming due on the Series 2022 Bonds and (iv) paying the costs of issuance of the Series 2022 Bonds. See "ESTIMATED SOURCES AND USES OF FUNDS" herein.

The District is a local unit of special-purpose government of the State of Florida (the "State"), created in accordance with the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the "Act"), and by Ordinance No. 18-036 enacted by the Board of County Commissioners of Polk County, Florida (the "County") on June 5, 2018, as amended by Ordinance Nos. 20-028, 20-046 and 22-001, enacted by the Board of County Commissioners of Polk County, Florida on June 16, 2020, December 2, 2020 and January 4, 2022, respectively (collectively, the "Ordinance") and approved and consented to by the City Commission of the City of Davenport, Florida (the "City") by Resolution Nos. 387-18, 456-20 and 474-21, adopted on March 19, 2018, November 16, 2020 and December 6, 2021, respectively. The Series 2022 Bonds are being issued pursuant to the Act, Resolution No. 2018-25 adopted by the Board of Supervisors (the "Board") of the District on July 18, 2018, as amended by Resolution No. 2021-23 adopted by the Board on September 22, 2021 and Resolution No. 2022-06 adopted on February 23, 2022 (collectively, the "Resolution"), and a Master Trust Indenture dated as of December 1, 2020 (the "Master Indenture"), as supplemented by a Second Supplemental Trust Indenture, dated as of March 1, 2022 (the "Second Supplemental Indenture" and, together with the Master Indenture, the "Indenture"), each by and between the District and the Trustee. Capitalized terms not otherwise defined herein shall have the meanings assigned to them in the Indenture. See "APPENDIX B: COPY OF MASTER INDENTURE AND PROPOSED FORM SECOND SUPPLEMENTAL INDENTURE" hereto.

The Series 2022 Bonds are payable from and secured solely by the Series 2022 Pledged Revenues. The Series 2022 Pledged Revenues for the Series 2022 Bonds consist of (a) all revenues received by the District from the Series 2022 Special Assessments (as defined herein) levied and collected on the assessable lands within the Series 2022 Assessment Area benefitted by the Series 2022 Project, including without limitation, amounts received from any foreclosure proceeding for the enforcement of collection of such Series 2022 Special Assessments or from the issuance and sale of tax certificates with respect to such Series 2022 Special Assessments, and (b) all moneys on deposit in the Funds and Accounts established under the Indenture, created and established with respect to or for the benefit of the Series 2022 Bonds; provided, however, that the Series 2022 Pledged Revenues shall not include (A) any moneys transferred to the Series 2022 Rebate Fund and investment earnings thereon, (B) moneys on deposit in the Series 2022 Costs of Issuance Account of the Acquisition and Construction Fund and (C) "special assessments" levied and collected by the District under Section 190.022 of the Act for maintenance purposes or "maintenance assessments" levied and collected by the District under Section 190.021(3) of the Act (it being expressly understood that the lien and pledge of the Indenture shall not apply to any of the
moneys described in the foregoing clauses of (A), (B) and (C) of this proviso). See "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2022 BONDS" herein.

The Series 2022 Bonds are subject to optional redemption, mandatory sinking fund redemption and extraordinary mandatory redemption at the times, in the amounts, and at the redemption prices more fully described herein under the caption "DESCRIPTION OF THE SERIES 2022 BONDS — Redemption Provisions."

THE SERIES 2022 BONDS ARE LIMITED OBLIGATIONS OF THE DISTRICT PAYABLE SOLELY FROM THE SERIES 2022 PLEDGED REVENUES PLEDGED THEREFOR UNDER THE INDENTURE, AND NEITHER THE PROPERTY, THE FULL FAITH AND CREDIT, NOR THE TAXING POWER OF THE DISTRICT, THE CITY OF DAVENPORT, FLORIDA (THE "CITY"), POLK COUNTY, FLORIDA (THE "COUNTY"), THE STATE OF FLORIDA (THE "STATE"), OR ANY OTHER POLITICAL SUBDIVISION THEREOF, IS PLEDGED AS SECURITY FOR THE PAYMENT OF THE SERIES 2022 BONDS, EXCEPT THAT THE DISTRICT IS OBLIGATED UNDER THE INDENTURE TO LEVY AND TO EVIDENCE AND CERTIFY, OR CAUSE TO BE CERTIFIED, FOR COLLECTION SERIES 2022 SPECIAL ASSESSMENTS TO SECURE AND PAY THE SERIES 2022 BONDS. THE SERIES 2022 BONDS DO NOT CONSTITUTE AN INDEBTEDNESS OF THE DISTRICT, THE CITY, THE COUNTY, THE STATE, OR ANY OTHER POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISION OR LIMITATION.

The Series 2022 Bonds involve a degree of risk (see "BONDOWNERS' RISKS" herein) and are not suitable for all investors (see "SUITABILITY FOR INVESTMENT" herein). Pursuant to Florida law, the Underwriter (as defined herein) is limiting this offering to "accredited investors" within the meaning of Chapter 517, Florida Statutes, and the rules of the Florida Department of Financial Services promulgated thereunder. The limitation of the initial offering to accredited investors does not denote restrictions on transfer in any secondary market for the Series 2022 Bonds. The Series 2022 Bonds are not credit enhanced or rated and no application has been made for a rating with respect to the Series 2022 Bonds.

This cover page contains certain information for quick reference only. It is not a summary of the Series 2022 Bonds. Investors must read this entire Limited Offering Memorandum to obtain information essential to the making of an informed investment decision.

MATURITY SCHEDULE

$ 	– 	% Term Bond due May 1, 20 	, Yield 	%, Price 	CUSIP # 	**
$ 	– 	% Term Bond due May 1, 20 	, Yield 	%, Price 	CUSIP # 	**
$ 	– 	% Term Bond due May 1, 20 	, Yield 	%, Price 	CUSIP # 	**
$ 	– 	% Term Bond due May 1, 20 	, Yield 	%, Price 	CUSIP # 	**

The Series 2022 Bonds are offered for delivery when, as and if issued by the District and accepted by the Underwriter, subject to the receipt of the opinion of Greenberg Traurig, P.A., Miami, Florida, Bond Counsel, as to the validity of the Series 2022 Bonds and the excludability of interest thereon from gross income for federal income tax purposes. Certain legal matters will be passed upon for the Underwriter by its counsel, GrayRobinson, P.A., Tampa, Florida, for the District by its counsel, KE Law Group, PLLC, Tallahassee, Florida, and for the Landowners (as defined herein) by their counsel, Straughn & Turner, P.A., Winter Haven, Florida. It is expected that the Series 2022 Bonds will be delivered in book-entry form through the facilities of DTC on or about 	, 2022.

FMSbonds, Inc.
Dated: 	, 2022

* Preliminary, subject to change.
** The District is not responsible for the use of CUSIP numbers, nor is any representation made as to their correctness. They are included solely for the convenience of the readers of this Limited Offering Memorandum.

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

BOARD OF SUPERVISORS

Warren K. "Rennie" Heath II, Chair* Lauren Schwenk, Vice Chair* Patrick Marone, Assistant Secretary* Kevin Chinoy, Assistant Secretary*
Andrew Rhinehart, Assistant Secretary*

* Affiliated with the Landowners or their affiliates

DISTRICT MANAGER AND METHODOLOGY CONSULTANT

Governmental Management Services – Central Florida, LLC Orlando, Florida

DISTRICT ENGINEER

Absolute Engineering, Inc.
Tampa, Florida

DISTRICT COUNSEL

KE Law Group, PLLC Tallahassee, Florida

BOND COUNSEL

Greenberg Traurig, P.A. Miami, Florida
NO DEALER, BROKER, SALESPERSON OR OTHER PERSON HAS BEEN AUTHORIZED BY THE DISTRICT TO GIVE ANY INFORMATION OR TO MAKE ANY REPRESENTATIONS, OTHER THAN THOSE CONTAINED IN THIS LIMITED OFFERING MEMORANDUM, AND IF GIVEN OR MADE, SUCH OTHER INFORMATION OR REPRESENTATIONS MUST NOT BE RELIED UPON AS HAVING BEEN AUTHORIZED BY THE DISTRICT. THIS LIMITED OFFERING MEMORANDUM DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY OF THE SERIES 2022 BONDS AND THERE SHALL BE NO OFFER, SOLICITATION, OR SALE OF THE SERIES 2022 BONDS BY ANY PERSON IN ANY JURISDICTION IN WHICH IT IS UNLAWFUL FOR SUCH PERSON TO MAKE SUCH OFFER, SOLICITATION OR SALE.
THE INFORMATION SET FORTH HEREIN HAS BEEN OBTAINED FROM THE LANDOWNERS (AS HEREINAFTER DEFINED), THE DISTRICT, PUBLIC DOCUMENTS, RECORDS AND OTHER SOURCES, WHICH SOURCES ARE BELIEVED TO BE RELIABLE BUT WHICH INFORMATION IS NOT GUARANTEED AS TO ACCURACY OR COMPLETENESS BY, AND IS NOT TO BE CONSTRUED AS A REPRESENTATION OF, THE UNDERWRITER NAMED ON THE COVER PAGE OF THIS LIMITED OFFERING MEMORANDUM. THE UNDERWRITER HAS REVIEWED THE INFORMATION IN THIS LIMITED OFFERING MEMORANDUM IN ACCORDANCE WITH, AND AS PART OF, ITS RESPONSIBILITIES TO INVESTORS UNDER THE FEDERAL SECURITIES LAWS AS APPLIED TO THE FACTS AND CIRCUMSTANCES OF THIS TRANSACTION, BUT THE UNDERWRITER DOES NOT GUARANTEE THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION. THE INFORMATION AND EXPRESSIONS OF OPINION HEREIN CONTAINED ARE SUBJECT TO CHANGE WITHOUT NOTICE AND NEITHER THE DELIVERY OF THIS LIMITED OFFERING MEMORANDUM, NOR ANY SALE MADE HEREUNDER, SHALL, UNDER ANY CIRCUMSTANCES, CREATE ANY IMPLICATION THAT THERE HAS BEEN NO CHANGE IN THE AFFAIRS OF THE DISTRICT OR THE LANDOWNERS OR IN THE STATUS OF THE DEVELOPMENT OR THE SERIES 2022 PROJECT (AS SUCH TERMS ARE HEREINAFTER DEFINED) SINCE THE DATE HEREOF.
THE SERIES 2022 BONDS HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR HAS THE INDENTURE BEEN QUALIFIED UNDER THE TRUST INDENTURE ACT OF 1939, AS AMENDED, IN RELIANCE UPON CERTAIN EXEMPTIONS SET FORTH IN SUCH ACTS. THE REGISTRATION, QUALIFICATION OR EXEMPTION OF THE SERIES 2022 BONDS IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAW PROVISIONS OF ANY JURISDICTIONS WHEREIN THESE SECURITIES HAVE BEEN OR WILL BE REGISTERED, QUALIFIED OR EXEMPTED SHOULD NOT BE REGARDED AS A RECOMMENDATION THEREOF. NEITHER THE DISTRICT, THE CITY, THE COUNTY, THE STATE, NOR ANY OTHER POLITICAL SUBDIVISIONS THEREOF HAVE GUARANTEED OR PASSED UPON THE MERITS OF THE SERIES 2022 BONDS, UPON THE PROBABILITY OF ANY EARNINGS THEREON OR UPON THE ACCURACY OR ADEQUACY OF THIS LIMITED OFFERING MEMORANDUM.
"FORWARD-LOOKING STATEMENTS" ARE USED IN THIS DOCUMENT BY USING FORWARD LOOKING WORDS SUCH AS "MAY," "WILL," "SHOULD," "INTENDS," "EXPECTS," "BELIEVES," "ANTICIPATES," "ESTIMATES," OR OTHERS. THE READER IS CAUTIONED THAT FORWARD-LOOKING STATEMENTS ARE SUBJECT TO A VARIETY OF UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER FROM THE PROJECTED RESULTS. THOSE RISKS AND UNCERTAINTIES INCLUDE GENERAL ECONOMIC AND BUSINESS CONDITIONS, CONDITIONS IN THE FINANCIAL MARKETS AND REAL ESTATE MARKET, THE DISTRICT'S COLLECTION OF ASSESSMENTS, AND VARIOUS OTHER FACTORS WHICH MAY BE BEYOND THE DISTRICT'S AND THE LANDOWNERS' CONTROL. BECAUSE THE DISTRICT AND THE LANDOWNERS CANNOT PREDICT ALL FACTORS THAT MAY AFFECT FUTURE
DECISIONS, ACTIONS, EVENTS, OR FINANCIAL CIRCUMSTANCES, WHAT ACTUALLY HAPPENS MAY BE DIFFERENT FROM WHAT IS INCLUDED IN FORWARD-LOOKING STATEMENTS.

THE ACHIEVEMENT OF CERTAIN RESULTS OR OTHER EXPECTATIONS CONTAINED IN SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS DESCRIBED TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. THE DISTRICT AND THE LANDOWNERS DO NOT PLAN TO ISSUE ANY UPDATES OR REVISIONS TO THOSE FORWARD-LOOKING STATEMENTS IF OR WHEN ANY OF THEIR EXPECTATIONS CHANGE OR EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH SUCH STATEMENTS ARE BASED OCCUR, OTHER THAN AS DESCRIBED UNDER "CONTINUING DISCLOSURE" HEREIN.

THIS LIMITED OFFERING MEMORANDUM IS BEING PROVIDED TO PROSPECTIVE PURCHASERS IN ELECTRONIC FORMAT ON THE FOLLOWING WEBSITES: WWW.MUNIOS.COM AND WWW.EMMA.MSRB.ORG. THIS LIMITED OFFERING MEMORANDUM MAY BE RELIED UPON ONLY IF IT IS PRINTED IN ITS ENTIRETY DIRECTLY FROM EITHER OF SUCH WEBSITES.

THIS PRELIMINARY LIMITED OFFERING MEMORANDUM IS IN A FORM DEEMED FINAL BY THE DISTRICT FOR PURPOSES OF RULE 15C2-12 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, EXCEPT FOR CERTAIN INFORMATION PERMITTED TO BE OMITTED PURSUANT TO RULE 15C2-12(B)(1).
TABLE OF CONTENTS

Page
INTRODUCTION	1
DESCRIPTION OF THE SERIES 2022 BONDS	3
General Description	3
Redemption Provisions	4
Book-Entry Only System	7
SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2022 BONDS	9
General	9
Prepayment of Series 2022 Special Assessments	10
Additional Bonds	11
Covenant Against Sale or Encumbrance	11
Acquisition and Construction Accounts	11
Reserve Account	12
Deposit and Application of the Pledged Revenues	14
Investments	15
Master Indenture Provisions Relating to Bankruptcy or Insolvency of a Landowner	15
Events of Default and Remedies	16
ENFORCEMENT OF ASSESSMENT COLLECTIONS	18
General	18
Direct Billing & Foreclosure Procedure	19
Uniform Method Procedure	19
BONDOWNERS' RISKS	22
Concentration of Land Ownership	22
Bankruptcy and Related Risks	23
Series 2022 Special Assessments Are Non-Recourse	23
Regulatory and Environmental Risks	24
Economic Conditions and Changes in Development Plans	24
Other Taxes and Assessments	25
Limited Secondary Market for Series 2022 Bonds	25
Inadequacy of Reserve Account	25
Legal Delays	26
IRS Examination and Audit Risk	26
Loss of Exemption from Securities Registration	28
Federal Tax Reform	28
State Tax Reform	28
Insufficient Resources or Other Factors Causing Failure to Complete the Series 2022
Project or the Construction of Homes within the Series 2022 Assessment Area	29
COVID-19 and Related Matters	29
Cybersecurity	30
Prepayment and Redemption Risk	30
Payment of Series 2022 Special Assessments after Bank Foreclosure	30
ESTIMATED SOURCES AND USES OF FUNDS	31
DEBT SERVICE REQUIREMENTS	32
TABLE OF CONTENTS
(continued)
Page
THE DISTRICT	33
General	33
Governance	33
Legal Powers and Authority	34
The District Manager and Other Consultants	35
Outstanding Indebtedness	35
THE CAPITAL IMPROVEMENT PLAN AND THE SERIES 2022 PROJECT	36
ASSESSMENT METHODOLOGY AND THE ALLOCATION OF ASSESSMENTS	38
THE DEVELOPMENT	39
Overview	39
Update on Prior Phases	41
Land Acquisition	41
Development Status and Plan	42
Builder Contracts	43
Residential Product Offerings	45
Public Schools	45
Development Approvals	45
Environmental	46
Utilities	46
Taxes, Fees and Assessments	46
Amenities	47
Competition	47
Landowners' Agreements	47
THE LANDOWNERS	48
Phase 3 Landowner	48
Phase 4 Landowner	49
Development Manager	49
TAX MATTERS	50
General	50
Original Issue Discount and Premium	52
Changes in Federal and State Tax Law	52
Information Reporting and Backup Withholding	53
AGREEMENT BY THE STATE	53
LEGALITY FOR INVESTMENT	53
SUITABILITY FOR INVESTMENT	53
ENFORCEABILITY OF REMEDIES	54
FINANCIAL STATEMENTS	54
LITIGATION	54
The District	54
The Landowners	54
NO RATING	55
TABLE OF CONTENTS
(continued)
Page
DISCLOSURE REQUIRED BY FLORIDA BLUE SKY REGULATIONS	55
CONTINUING DISCLOSURE	55
UNDERWRITING	55
CONTINGENT FEES	56
EXPERTS	56
VALIDATION	56
LEGAL MATTERS	56
MISCELLANEOUS	57
AUTHORIZATION AND APPROVAL	58

APPENDICES
APPENDIX A	ENGINEER'S REPORT
APPENDIX B	COPY OF MASTER INDENTURE AND PROPOSED FORM SECOND SUPPLEMENTAL INDENTURE
APPENDIX C	PROPOSED FORM OF OPINION OF BOND COUNSEL APPENDIX D	ASSESSMENT METHODOLOGY
APPENDIX E	PROPOSED FORM OF CONTINUING DISCLOSURE AGREEMENT APPENDIX F	DISTRICT'S FINANCIAL STATEMENTS
LIMITED OFFERING MEMORANDUM

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT (POLK COUNTY, FLORIDA)

$8,105,000*
SPECIAL ASSESSMENT BONDS, SERIES 2022 INTRODUCTION
The purpose of this Limited Offering Memorandum, including the cover page, inside cover and
appendices hereto, is to provide certain information in connection with the issuance and sale by North Powerline Road Community Development District (the "District" or the "Issuer") of its $8,105,000* aggregate principal amount of Special Assessment Bonds, Series 2022 (the "Series 2022 Bonds").

PROSPECTIVE INVESTORS SHOULD BE AWARE OF CERTAIN RISK FACTORS, ANY OF WHICH, IF MATERIALIZED TO A SUFFICIENT DEGREE, COULD DELAY OR PREVENT PAYMENT OF PRINCIPAL OF AND/OR INTEREST ON THE SERIES 2022 BONDS. THE SERIES 2022 BONDS ARE NOT A SUITABLE INVESTMENT FOR ALL INVESTORS. PURSUANT TO APPLICABLE STATE LAW, THE UNDERWRITER IS LIMITING THIS INITIAL OFFERING OF THE SERIES 2022 BONDS TO ONLY ACCREDITED INVESTORS WITHIN THE MEANING OF CHAPTER 517, FLORIDA STATUTES, AND THE RULES OF THE FLORIDA DEPARTMENT OF FINANCIAL SERVICES PROMULGATED THEREUNDER. THE LIMITATION OF THE INITIAL OFFERING TO ACCREDITED INVESTORS DOES NOT DENOTE RESTRICTIONS ON TRANSFER IN ANY SECONDARY MARKET FOR THE SERIES 2022 BONDS. See "SUITABILITY FOR INVESTMENT" and "BONDOWNERS' RISKS" herein.

The District is a local unit of special-purpose government of the State of Florida (the "State"), created in accordance with the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the "Act"), and by Ordinance No. 18-036 duly enacted by the Board of County Commissioners of Polk County, Florida (the "County") on June 5, 2018, as amended by Ordinance Nos. 20-028, 20-046 and 22-001, enacted by the Board of County Commissioners of Polk County, Florida on June 16, 2020, December 2, 2020 and January 4, 2022, respectively (collectively, the "Ordinance"), and approved and consented to by the City Commission of the City of Davenport, Florida (the "City") by Resolution Nos. 387-18, 456-20 and 474-21, adopted on March 19, 2018, November 16, 2020 and December 6, 2021, respectively. The District was created for the purpose of delivering certain community development services and facilities for the benefit of District Lands (as hereinafter defined) and has previously determined to undertake, in one or more stages, the acquisition and/or construction of public improvements and community facilities as set forth in the Act for the special benefit of the District Lands. The Act authorizes the District to issue bonds for the purposes of, among others, financing, funding, planning, establishing, acquiring, constructing or reconstructing, enlarging or extending, or equipping water management, water supply, sewer and wastewater management, bridges or culverts, public roads, street lights and other basic infrastructure projects within or without the boundaries of the District as provided in the Act.

The District currently encompasses approximately [ ] gross acres of land (the "District Lands") and is located partially within unincorporated Polk County and partially within the City. For more complete

* Preliminary, subject to change.
information about the District, its Board of Supervisors and the District Manager, see "THE DISTRICT" herein.

Land development associated with the Development will occur in phases. The District previously issued its Series 2020 Bonds to fund a portion of the CIP associated with the development of the Series 2020 Assessment Area, which consists of Phase 1 and Phase 2 of the Development (the “Series 2020 Project”). Phase 1 is currently planned for 295 single-family residential lots and Phase 2 is currently planned for 272 single-family residential lots. The Series 2020 Project is complete, [all lots have been developed and platted].

The Series 2022 Bonds are being issued in order to fund a portion of the CIP associated with the development of Phase 3 and Phase 4 of the Development (collectively, the "Series 2022 Project"). Phase 3, referred to herein as Deer Run, is currently planned for 162 single-family residential lots. Phase 4, referred to herein as Horse Creek, is currently planned for 300 townhome lots and 7 single-family residential lots (collectively, the “Series 2022 Assessment Area”). The Series 2022 Bonds will be secured by the Series 2022 Special Assessments which will initially be levied on the [ ] acres which comprise the Series 2022 Assessment Area. As lots are platted, the Series 2022 Special Assessments will be assigned to the 469 lots planned for the Series 2022 Assessment Area on a first platted, first assigned basis as set forth in the Assessment Methodology attached hereto, See "THE SERIES 2022 PROJECT" herein for more information regarding the Series 2022 Project and "ASSESSMENT METHODOLOGY AND THE ALLOCATION OF ASSESSMENTS" herein and APPENDIX D: ASSESSMENT METHODOLOGY
hereto for more information regarding the Series 2022 Special Assessments.

GLK Real Estate, LLC, a Florida limited liability company (the "Phase 3 Landowner"), owns the land planned for Phase 3 of the Series 2022 Assessment Area and CH Dev, LLC, a Florida limited liability company (the "Phase 4 Landowner" and, together with the Phase 3 Landowner, the "Landowners"), owns all of the land planed for Phase 4 of the Series 2022 Assessment Area. See "THE LANDOWNERS" herein for more information.

The Landowners have entered into builder contracts for the sale of [all 469 lots] planned within the Series 2022 Assessment Area as follows: (i) 	(as defined herein) to purchase developed lots in Phase      in a single bulk purchase upon development completion of Phase     , (ii) 	(as defined herein) to purchase developed lots in Phase in a single bulk purchase upon development of Phase
    , (iii) D.R. Horton (as defined herein) to purchase 150 developed townhome lots in Phase 4 in a single bulk purchase upon development completion, and (iv) Meritage Homes (as defined herein) purchase 150 developed townhome lots in Phase 4 in a single bulk purchase upon development completion. See "THE DEVELOPMENT – Builder Contracts" herein for more information.

The Series 2022 Bonds are being issued pursuant to the Act, Resolution No. 2018-25 adopted by the Board of Supervisors (the "Board") of the District on July 18, 2018 as amended by Resolution No. 2021- 23 adopted by the Board on September 22, 2021 and Resolution No. 2022-06 adopted on February 23, 2022 (collectively, the "Resolution"), and a Master Trust Indenture dated as of December 1, 2020 (the "Master Indenture"), as supplemented by a Second Supplemental Trust Indenture, dated as March 1, 2022 (the "Second Supplemental Indenture" and, together with the Master Indenture, the "Indenture"), each by and between the District and U.S. Bank Trust Company, National Association, as trustee (the "Trustee"). Capitalized terms not otherwise defined herein shall have the meanings assigned to them in the Indenture. See "APPENDIX B: COPY OF MASTER INDENTURE AND PROPOSED FORM SECOND SUPPLEMENTAL INDENTURE" hereto.

The Series 2022 Bonds are being issued for the purposes of: (i) providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the
Series 2022 Project, (ii) funding a deposit to the Series 2022 Reserve Account in the amount of the Series 2022 Reserve Requirement (each as defined herein), (iii) paying a portion of the interest coming due on the Series 2022 Bonds and (iv) paying the costs of issuance of the Series 2022 Bonds. See "ESTIMATED SOURCES AND USES OF FUNDS" herein.

The Series 2022 Bonds are payable from and secured solely by the Series 2022 Pledged Revenues. The Series 2022 Pledged Revenues for the Series 2022 Bonds consist of (a) all revenues received by the District from the Series 2022 Special Assessments levied and collected on the assessable lands within the Series 2022 Assessment Area benefitted by the Series 2022 Project, including without limitation, amounts received from any foreclosure proceeding for the enforcement of collection of such Series 2022 Special Assessments or from the issuance and sale of tax certificates with respect to such Series 2022 Special Assessments, and (b) all moneys on deposit in the Funds and Accounts established under the Indenture, created and established with respect to or for the benefit of the Series 2022 Bonds; provided, however, that the Series 2022 Pledged Revenues shall not include (A) any moneys transferred to the Series 2022 Rebate Fund and investment earnings thereon, (B) moneys on deposit in the Series 2022 Costs of Issuance Account of the Acquisition and Construction Fund and (C) "special assessments" levied and collected by the District under Section 190.022 of the Act for maintenance purposes or "maintenance assessments" levied and collected by the District under Section 190.021(3) of the Act (it being expressly understood that the lien and pledge of the Indenture shall not apply to any of the moneys described in the foregoing clauses of (A),
and (C) of this proviso). See "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2022 BONDS" herein.

Set forth herein are brief descriptions of the District, the Series 2022 Assessment Area, the Series 2022 Project, the Landowners and the Development, together with summaries of terms of Series 2022 Bonds, the Indenture, and certain provisions of the Act. All references herein to the Indenture and the Act are qualified in their entirety by reference to such documents and the Act and all references to the Series 2022 Bonds are qualified by reference to the definitive forms thereof and the information with respect thereto contained in the Indenture. Proposed forms of the Master Indenture and the Second Supplemental Indenture appear as APPENDIX B attached hereto.

This Limited Offering Memorandum speaks only as of its date and the information contained herein is subject to change.

DESCRIPTION OF THE SERIES 2022 BONDS

General Description

The Series 2022 Bonds will be dated the date, will bear interest at the rates per annum (computed on the basis of a 360-day year consisting of twelve 30-day months) and, subject to the redemption provisions set forth below, will mature on the dates and in the amounts set forth on the inside cover pages of this Limited Offering Memorandum. Interest on the Series 2022 Bonds shall be payable on each Interest Payment Date to maturity or prior redemption. Interest on the Series 2022 Bonds shall be payable from the most recent Interest Payment Date next preceding the date of authentication thereof to which interest has been paid, unless the date of authentication thereof is a May 1 or November 1 to which interest has been paid, in which case from such date of authentication, or unless the date of authentication thereof is prior to [May 1, 20 ], in which case from the date of initial delivery or unless the date of authentication thereof is between a Record Date and the next succeeding Interest Payment Date, in which case from such Interest Payment Date. U.S. Bank Trust Company, National Association is the initial Trustee, Paying Agent and Registrar for the Series 2022 Bonds.
The Series 2022 Bonds will be issued in fully registered form, without coupons, in authorized denominations of $5,000 and any integral multiple thereof provided, except as otherwise provided in the Indenture. The Series 2022 Bonds will initially be offered only to "accredited investors" within the meaning of Chapter 517, Florida Statutes, as amended, and the rules of the Florida Department of Financial Services promulgated thereunder; provided, however, the limitation of the initial offering to accredited investors does not denote restrictions on transfer in any secondary market for the Series 2022 Bonds. See "SUITABILITY FOR INVESTMENT" herein.

Upon initial issuance, the Series 2022 Bonds shall be issued as one fully registered bond for each maturity of Series 2022 Bonds and deposited with The Depository Trust Company ("DTC"), New York, New York, which is responsible for establishing and maintaining records of ownership for its participants. As long as the Series 2022 Bonds are held in book-entry-only form, Cede & Co. shall be considered the registered owner for all purposes of the Indenture. DTC shall be responsible for maintaining a book-entry- only system for recording the ownership interest of its participants ("DTC Participants") and other institutions that clear through or maintain a custodial relationship with a DTC Participant, either directly or indirectly ("Indirect Participants"). The DTC Participants and Indirect Participants will be responsible for maintaining records with respect to the beneficial ownership interests of individual purchasers of the Series 2022 Bonds ("Beneficial Owners"). Principal and interest on the Series 2022 Bonds registered in the name of Cede & Co. prior to and at maturity shall be payable directly to Cede & Co. in care of DTC. Disbursal of such amounts to DTC Participants shall be the responsibility of DTC. Payments by DTC Participants to Indirect Participants, and by DTC Participants and Indirect Participants to Beneficial Owners shall be the responsibility of DTC Participants and Indirect Participants and not of DTC, the Trustee or the District. During the period for which Cede & Co. is registered owner of the Series 2022 Bonds, any notices to be provided to any Beneficial Owner will be provided to Cede & Co. DTC shall be responsible for notices to DTC Participants and DTC Participants shall be responsible for notices to Indirect Participants, and DTC Participants and Indirect Participants shall be responsible for notices to Beneficial Owners. In the event DTC, any successor of DTC or the District, but only in accordance with the procedures of DTC, elects to discontinue the book-entry only system for the Series 2022 Bonds, the Trustee shall deliver bond certificates in accordance with the instructions from DTC or its successor, and after such time the Series 2022 Bonds may be exchanged for an equal aggregate principal amount of such Series 2022 Bonds in other Authorized Denominations upon surrender thereof at the designated corporate trust office of the Trustee. See "– Book- Entry Only System" herein.

Redemption Provisions

Optional Redemption

The Series 2022 Bonds maturing on or after May 1, 20  may, at the option of the District be  called for redemption prior to maturity as a whole or in part, at any time, on or after May 1, 20  (less   than all Series 2022 Bonds of a maturity to be selected by lot), at a Redemption Price equal to the principal amount of Series 2022 Bonds to be redeemed, plus accrued interest from the most recent Interest Payment Date through which interest has been paid to the redemption date from moneys on deposit in the Series 2022 Optional Redemption Subaccount of the Series 2022 Bond Redemption Account. If such optional redemption shall be in part, the District shall select such principal amount of Series 2022 Bonds to be optionally redeemed from each maturity so that debt service on the remaining Outstanding Series 2022 Bonds is substantially level.

Mandatory Sinking Fund Redemption

The  Series  2022  Bonds  maturing  on  May 1,  20 	are  subject  to  mandatory  sinking fund
redemption from the moneys on deposit in the Series 2022 Sinking Fund Account on May 1 in the years
and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

The  Series  2022  Bonds  maturing  on  May 1,  20 	are subject to mandatory sinking fund
redemption from the moneys on deposit in the Series 2022 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

The  Series  2022  Bonds  maturing  on  May 1,  20 	are subject to mandatory sinking fund
redemption from the moneys on deposit in the Series 2022 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

The  Series  2022  Bonds  maturing  on  May 1,  20 	are subject to mandatory sinking fund
redemption from the moneys on deposit in the Series 2022 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity
Upon any redemption of Series 2022 Bonds other than in accordance with scheduled mandatory sinking fund redemption, the District shall cause to be recalculated and delivered to the Trustee revised mandatory sinking fund redemption amounts recalculated so as to amortize the Outstanding principal amount of Series 2022 Bonds in substantially equal annual installments of principal and interest (subject to rounding to Authorized Denominations of principal) over the remaining term of the Series 2022 Bonds. The mandatory sinking fund redemption amounts as so recalculated shall not result in an increase in the aggregate of the mandatory sinking fund redemption amounts for all Series 2022 Bonds in any year. In the event of a redemption or purchase occurring less than 45 days prior to a date on which a mandatory sinking fund redemption amount is due, the foregoing recalculation shall not be made to mandatory sinking fund redemption due in the year in which such redemption or purchase occurs, but shall be made to mandatory sinking fund redemption for the immediately succeeding and subsequent years.

Extraordinary Mandatory Redemption

The Series 2022 Bonds are subject to extraordinary mandatory redemption prior to maturity by the District in whole or in part, on any date (other than in the case of clause (i) below, which extraordinary mandatory redemption in part must occur on a Quarterly Redemption Date), at a Redemption Price equal to 100% of the principal amount of the Series 2022 Bonds to be redeemed, plus interest accrued to the redemption date, as follows:

from Series 2022 Prepayment Principal deposited into the Series 2022 Prepayment Subaccount of the Series 2022 Bond Redemption Account following the payment in whole or in part of Series 2022 Special Assessments on any assessable property within the District in accordance with the provisions of the Second Supplemental Indenture, together with any excess moneys transferred by the Trustee from the Series 2022 Reserve Account to the Series 2022 Prepayment Subaccount as a result of such Series 2022 Prepayment and pursuant the Second Supplemental Indenture. If such redemption shall be in part, the District shall select such principal amount of Series 2022 Bonds to be redeemed from each maturity so that debt service on the remaining Outstanding Series 2022 Bonds is substantially level;

from moneys, if any, on deposit in the Funds, Accounts and subaccounts held by the Trustee(other than the Series 2022 Rebate Fund and the Series 2022 Acquisition and Construction Accounts) sufficient to pay and redeem all Outstanding Series 2022 Bonds and accrued interest thereon to the redemption date or dates in addition to all amounts owed to Persons under the Master Indenture; and

upon the Completion Date, from any funds remaining on deposit in the respective Series 2022 Acquisition and Construction Accounts in accordance with the provisions the Second Supplemental Indenture, not otherwise reserved to complete the Series 2022 Project and transferred to the Series 2022 General Redemption Subaccount of the Series 2022 Bond Redemption Account. If such redemption shall be in part, the District shall select such principal amount of Series 2022 Bonds to be redeemed from each maturity so that debt service on the remaining Outstanding Series 2022 Bonds is substantially level.

Notice of Redemption

When required to redeem or purchase Series 2022 Bonds under any provision of the Indenture or directed to do so by the District, the Trustee shall cause notice of the redemption, either in whole or in part, to be mailed at least thirty (30) but not more than sixty (60) days prior to the redemption or purchase date to all Owners of Series 2022 Bonds to be redeemed or purchased (as such Owners appear on the Bond Register on the fifth (5th) day prior to such mailing), at their registered addresses, but failure to mail any such notice or defect in the notice or in the mailing thereof shall not affect the validity of the redemption or purchase of the Series 2022 Bonds for which notice was duly mailed in accordance with the Indenture. If, at the time of mailing of notice of an optional redemption, the District shall not have deposited with the
Trustee or Paying Agent moneys sufficient to redeem or purchase all of the Series 2022 Bonds called for redemption, such notice shall expressly state that the redemption is conditional and is subject to the deposit of the redemption moneys with the Trustee or Paying Agent, as the case may be, not later than the opening of business on the redemption date or purchase date, and such notice shall be of no effect unless such moneys are so deposited.

Book-Entry Only System

The Depository Trust Company ("DTC"), New York, New York, will act as securities depository for the Series 2022 Bonds. The Series 2022 Bonds will be issued as fully-registered securities registered in the name of Cede & Co. (DTC's partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully-registered Series 2022 Bond certificate will be issued for each maturity of the Series 2022 Bonds, each in the aggregate principal amount of such maturity, and will be deposited with DTC.

DTC, the world's largest securities depository, is a limited-purpose trust company organized under the New York Banking Law, a "banking organization" within the meaning of the New York Banking Law, a member of the Federal Reserve System, a "clearing corporation" within the meaning of the New York Uniform Commercial Code, and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934. DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and money market instruments (from over 100 countries) that DTC's participants ("Direct Participants") deposit with DTC. DTC also facilitates the post-trade settlement among Direct Participants of sales and other securities transactions in deposited securities, through electronic computerized book-entry transfers and pledges between Direct Participants' accounts. This eliminates the need for physical movement of securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is a wholly-owned subsidiary of The Depository Trust & Clearing Corporation ("DTCC"). DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly ("Indirect Participants"). DTC has a Standard & Poor's rating of AA+. The DTC Rules applicable to its Participants are on file with the Securities and Exchange Commission. More information about DTC can be found at www.dtcc.com.

Purchases of Series 2022 Bonds under the DTC system must be made by or through Direct Participants, which will receive a credit for the Series 2022 Bonds on DTC's records. The ownership interest of each actual purchaser of each Series 2022 Bond ("Beneficial Owner") is in turn to be recorded on the Direct and Indirect Participants' records. Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the Series 2022 Bonds are to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in Series 2022 Bonds, except in the event that use of the book-entry system for the Series 2022 Bonds is discontinued.

To facilitate subsequent transfers, all Series 2022 Bonds deposited by Direct Participants with DTC are registered in the name of DTC's partnership nominee, Cede & Co., or such other name as may be requested by an authorized representative of DTC. The deposit of Series 2022 Bonds with DTC and their
registration in the name of Cede & Co. or such other DTC nominee do not affect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the Series 2022 Bonds; DTC's records reflect only the identity of the Direct Participants to whose accounts such Series 2022 Bonds are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers.

Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Beneficial Owners of Series 2022 Bonds may wish to take certain steps to augment the transmission to them of notices of significant events with respect to the Series 2022 Bonds, such as redemptions, tenders, defaults, and proposed amendments to the Series 2022 Bond documents. For example, Beneficial Owners of Series 2022 Bonds may wish to ascertain that the nominee holding the Series 2022 Bonds for their benefit has agreed to obtain and transmit notices to Beneficial Owners. In the alternative, Beneficial Owners may wish to provide their names and addresses to the registrar and request that copies of notices be provided directly to them.

Redemption notices shall be sent to DTC. If less than all of the Series 2022 Bonds within a series or maturity are being redeemed, DTC's practice is to determine by lot the amount of the interest of each Direct Participant in such series or maturity to be redeemed.

Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with respect to Series 2022 Bonds unless authorized by a Direct Participant in accordance with DTC's MMI Procedures. Under its usual procedures, DTC mails an Omnibus Proxy to the District as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.'s consenting or voting rights to those Direct Participants to whose accounts Series 2022 Bonds are credited on the record date (identified in a listing attached to the Omnibus Proxy).

Redemption proceeds, distributions, and dividend payments on the Series 2022 Bonds will be made to Cede & Co., or such other nominee as may be requested by an authorized representative of DTC. DTC's practice is to credit Direct Participants' accounts upon DTC's receipt of funds and corresponding detail information from the District or the Trustee, on payable date in accordance with their respective holdings shown on DTC's records. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in "street name," and will be the responsibility of such Participant and not of DTC, the Trustee, or the District, subject to any statutory or regulatory requirements as may be in effect from time to time. Payment of redemption proceeds, distributions, and dividend payments to Cede & Co. (or such other nominee as may be requested by an authorized representative of DTC) is the responsibility of the District or the Trustee, disbursement of such payments to Direct Participants will be the responsibility of DTC, and disbursement of such payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants.

A Beneficial Owner shall give notice to elect to have its Series 2022 Bonds purchased or tendered, through its Participant, to the Trustee, and shall effect delivery of such Series 2022 Bonds by causing the Direct Participant to transfer the Participant's interest in the Series 2022 Bonds, on DTC's records, to the Trustee. The requirement for physical delivery of Series 2022 Bonds in connection with an optional tender or a mandatory purchase will be deemed satisfied when the ownership rights in the Series 2022 Bonds are transferred by Direct Participants on DTC's records and followed by a book-entry credit of tendered Series 2022 Bonds to the Trustee's DTC account.
DTC may discontinue providing its services as depository with respect to the Series 2022 Bonds at any time by giving reasonable notice to the District or the Trustee. Under such circumstances, in the event that a successor depository is not obtained, Series 2022 Bond certificates are required to be printed and delivered.

The District may decide to discontinue use of the system of book-entry-only transfers through DTC (or a successor securities depository) pursuant to the procedures of DTC. In that event, Security certificates will be printed and delivered to DTC.

The information in this section concerning DTC and DTC's book-entry system has been obtained from sources that the District believes to be reliable, but the District takes no responsibility for the accuracy thereof.

SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2022 BONDS

General

THE SERIES 2022 BONDS ARE LIMITED OBLIGATIONS OF THE DISTRICT PAYABLE SOLELY FROM THE SERIES 2022 PLEDGED REVENUES PLEDGED THEREFOR UNDER THE INDENTURE, AND NEITHER THE PROPERTY, THE FULL FAITH AND CREDIT, NOR THE TAXING POWER OF THE DISTRICT, THE CITY, THE COUNTY, THE STATE OF FLORIDA (THE "STATE"), OR ANY OTHER POLITICAL SUBDIVISION THEREOF, IS PLEDGED AS SECURITY FOR THE PAYMENT OF THE SERIES 2022 BONDS, EXCEPT THAT THE DISTRICT IS OBLIGATED UNDER THE INDENTURE TO LEVY AND TO EVIDENCE AND CERTIFY, OR CAUSE TO BE CERTIFIED, FOR COLLECTION SERIES 2022 SPECIAL ASSESSMENTS TO SECURE AND PAY THE SERIES 2022 BONDS. THE SERIES 2022 BONDS DO NOT CONSTITUTE AN INDEBTEDNESS OF THE DISTRICT, THE COUNTY, THE STATE, OR ANY OTHER POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISION OR LIMITATION.

The Series 2022 Bonds are payable from and secured solely by the Series 2022 Pledged Revenues. The Series 2022 Pledged Revenues for the Series 2022 Bonds consist of (a) all revenues received by the District from the Series 2022 Special Assessments (as defined herein) levied and collected on the assessable lands within the Series 2022 Assessment Area, including without limitation, amounts received from any foreclosure proceeding for the enforcement of collection of such Series 2022 Special Assessments or from the issuance and sale of tax certificates with respect to such Series 2022 Special Assessments, and (b) all moneys on deposit in the Funds and Accounts established under the Indenture, created and established with respect to or for the benefit of the Series 2022 Bonds; provided, however, that the Series 2022 Pledged Revenues shall not include (A) any moneys transferred to the Series 2022 Rebate Fund and investment earnings thereon, (B) moneys on deposit in the Series 2022 Costs of Issuance Account of the Acquisition and Construction Fund and (C) "special assessments" levied and collected by the District under Section 190.022, of the Act, for maintenance purposes or "maintenance assessments" levied and collected by the District under Section 190.021(3) of the Act (it being expressly understood that the lien and pledge of the Indenture shall not apply to any of the moneys described in the foregoing clauses of (A), (B) and (C) of this proviso).

The "Series 2022 Special Assessments" consist of the non-ad valorem special assessments imposed and levied by the District against the assessable lands within the Series 2022 Assessment Area specially benefited by the Series 2022 Project, or any portions thereof, pursuant to Section 190.022 of the Act, Chapters 170 and 197, Florida Statutes, and the Assessment Resolutions (as defined in the Indenture) and assessment proceedings conducted by the District (together with the Assessment Resolutions, the
"Assessment Proceedings"). Non-ad valorem assessments are not based on millage and are not taxes, but constitute a lien against the land as to which the Series 2022 Special Assessments are imposed, including homestead property as permitted in Section 4, Article X of the Florida State Constitution. The Series 2022 Special Assessments will constitute a lien against the land as to which the Series 2022 Special Assessments are imposed. See "ENFORCEMENT OF ASSESSMENT COLLECTIONS" herein.

The Series 2022 Special Assessments are levied in an amount corresponding to the debt service on the Series 2022 Bonds on the basis of benefit received by the assessable lands within the District as a result of the Series 2022 Project. The Assessment Methodology (as hereinafter defined), which describes the methodology for allocating the Series 2022 Special Assessments to the assessable lands within the District (i.e., the Series 2022 Assessment Area), is included as APPENDIX D attached hereto.

In the Master Indenture, the District will covenant that, if any Series 2022 Special Assessment shall be either in whole or in part annulled, vacated or set aside by the judgment of any court, or if the District shall be satisfied that any such Series 2022 Special Assessment is so irregular or defective that the same cannot be enforced or collected, or if the District shall have omitted to make such Series 2022 Special Assessment when it might have done so, the District shall either (i) take all necessary steps to cause a new Series 2022 Special Assessment to be made for the whole or any part of such improvement or against any property benefited by such improvement or (ii) in its sole discretion, make up the amount of such Series 2022 Special Assessment from any legally available moneys, which shall be deposited into the Series 2022 Revenue Account. In the case such second Series 2022 Special Assessment shall be annulled, the District shall obtain and make other Series 2022 Special Assessments until a valid Series 2022 Special Assessment shall be made.

Prepayment of Series 2022 Special Assessments

[The Assessment Proceedings provide that an owner of property subject to the Series 2022 Special Assessments may prepay the entire remaining balance of such Series 2022 Special Assessments at any time, or a portion of the remaining balance of such Series 2022 Special Assessment one time, if there is also paid, in addition to the prepaid principal balance of the Series 2022 Special Assessment, an amount equal to the interest that would otherwise be due on such prepaid amount on the next succeeding interest payment date for the Series 2022 Bonds or, if prepaid during the forty-five (45) day period preceding such interest payment date, to the interest payment date following such next succeeding interest payment date. Prepayment of the Series 2022 Special Assessments does not entitle the property owner to any discounts for early payment.

Pursuant to the Act and the Assessment Proceedings, an owner of property subject to the levy of Series 2022 Special Assessments may pay the entire balance of the Series 2022 Special Assessments remaining due, without interest, within thirty (30) days after the Series 2022 Project has been completed, and the Board has adopted a resolution accepting the Series 2022 Project pursuant to Chapter 170.09, Florida Statutes. The Landowners, as the sole owners of the assessable property within the District, will waive this right on behalf of themselves and their successors and assign in connection with the issuance of the Series 2022 Bonds. See "BONDOWNERS' RISKS – Prepayment and Redemption Risk" herein.]

The Series 2022 Bonds are subject to extraordinary mandatory redemption as indicated under "DESCRIPTION OF THE SERIES 2022 BONDS – Redemption Provisions – Extraordinary Mandatory Redemption" from optional and required prepayments of Series 2022 Special Assessments by property owners.
Additional Bonds

Under the Indenture, the District will covenant not to issue any other Bonds or other debt obligations secured by the Series 2022 Special Assessments. In addition, the District will covenant not to issue any other Bonds or debt obligations for capital projects, secured by Special Assessments on the assessable lands within the District that are subject to the Series 2022 Special Assessments, until the Series 2022 Special Assessments are Substantially Absorbed. "Substantially Absorbed" means the date at least ninety percent (90%) of the principal portion of the Series 2022 Special Assessments have been assigned to residential units within the Series 2022 Assessment Area that have received certificates of occupancy. The District shall present the Trustee with a certification that the Series 2022 Special Assessments are Substantially Absorbed and the Trustee may conclusively rely upon such certification and shall have no duty to verify if the Series 2022 Special Assessments are Substantially Absorbed. In the absence of such written certification, the Trustee is entitled to assume that the Series 2022 Special Assessments have not been Substantially Absorbed. Nothing in the Indenture shall restrict the District from issuing refunding Bonds or any Bonds or other obligations secured by Special Assessments levied on District Lands outside of the Series 2022 Assessment Area, or to finance any other capital project that is necessary to remediate any natural disaster, catastrophic damage or failure with respect to the Series 2022 Project.

The District and/or other public entities may impose taxes or other special assessments on the same properties encumbered by the Series 2022 Special Assessments without the consent of the Owners of the Series 2022 Bonds. The District expects to impose certain non-ad valorem special assessments called maintenance assessments, which are of equal dignity with the Series 2022 Special Assessments on the same lands upon which the Series 2022 Special Assessments are imposed, to fund the maintenance and operation of the District. See "THE DEVELOPMENT – Taxes, Fees and Assessments" and "BONDOWNERS' RISKS" herein for more information.

Covenant Against Sale or Encumbrance

In the Master Indenture, the District will covenant that (a) except for those improvements comprising the Projects that are to be conveyed by the District to the County, the State Department of Transportation or another governmental entity, as to which no assessments of the District will be imposed and (b) except as otherwise permitted in the Master Indenture, it will not sell, lease or otherwise dispose of or encumber any Projects or any part thereof. See "APPENDIX B: COPY OF MASTER INDENTURE AND PROPOSED FORM SECOND SUPPLEMENTAL INDENTURE" herein.

Acquisition and Construction Accounts

The Indenture establishes separate accounts within the Acquisition and Construction Fund designated as the "Phase 3 Acquisition and Construction Account" and the "Phase 4 Acquisition and Construction Account." Net proceeds of the Series 2022 Bonds shall initially be deposited into the Phase 3 Acquisition and Construction Account in the amounts set forth in the Second Supplemental Indenture, together with any moneys subsequently transferred or deposited thereto or to the Phase 4 Acquisition and Construction Account, including moneys transferred from the Series 2022 Reserve Account after satisfaction of either the Reserve Release Conditions #1 or Reserve Release Conditions #2 (each as defined herein) as certified in writing by the District Manager and upon which the Trustee may conclusively rely, and such moneys shall be applied as set forth in the Indenture, the Acquisition Agreement and the Engineer's Report. Funds on deposit in the Phase 3 Acquisition and Construction Account and the Phase 4 Acquisition and Construction Account shall only be requested by the District to be applied to the Costs of the Series 2022 Project, subject to the Second Supplemental Indenture. Upon satisfaction of the Reserve Release Conditions #1 and Reserve Release Conditions #2, the amount on deposit in the Series 2022 Reserve Account in excess of the Series 2022 Reserve Requirement, as applicable and as calculated by the District
shall then be transferred to the Phase 3 Acquisition and Construction Account and/or the Phase 4 Acquisition and Construction Account, as directed in writing to the Trustee by the District Manager, upon consultation with the Consulting Engineer, and applied as provided in the Second Supplemental Indenture.

In the event the Completion Date for Phase 3 occurs prior to the Completion Date for Phase 4, or vice versa, moneys remaining in the Phase 3 Acquisition and Construction Account after retaining costs to complete Phase 3 portion of the Series 2022 Project shall be transferred to the Phase 4 Acquisition and Construction Account, or moneys remaining in the Phase 4 Acquisition and Construction Account after retaining costs to complete Phase 4 portion of the Series 2022 Project shall be transferred to the Phase 3 Acquisition and Construction Account, as the case may be, as directed in writing to the Trustee by the District Manager, upon consultation with the Consulting Engineer. Following the Completion Date for both Phase 3 and Phase 4 of the Series 2022 Project, all moneys remaining in either or both of the Series 2022 Acquisition and Construction Accounts shall be transferred to the Series 2022 General Redemption Subaccount, as directed in writing by the District Manager, on behalf of the District to the Trustee to be applied as provided in the Second Supplemental Indenture.

The Trustee shall make no such transfers from the respective Series 2022 Acquisition and Construction Accounts to the Series 2022 General Redemption Subaccount if an Event of Default exists with respect to the Series 2022 Bonds of which the Trustee has notice as described in the Indenture. Except as provided in the Second Supplemental Indenture, only upon presentment to the Trustee of a properly signed requisition in substantially the form attached to the Second Supplemental Indenture, shall the Trustee withdraw moneys from the respective Series 2022 Acquisition and Construction Accounts or subaccounts therein. After no funds remain in the respective Series 2022 Acquisition and Construction Accounts, such Accounts shall be closed.

Notwithstanding the foregoing, neither of the Series 2022 Acquisition and Construction Accounts shall be closed until the Reserve Release Conditions #2 shall have and the excess funds from the Series 2022 Reserve Account shall have been transferred to either or both of the Series 2022 Acquisition and Construction Accounts, as directed in writing to the Trustee by the District Manager, and applied in accordance with the provisions of the Indenture. The Trustee shall not be responsible for determining the amounts in the respective Series 2022 Acquisition and Construction Accounts and subaccounts allocable to the respective components of the Series 2022 Project or any transfers made to such Accounts in accordance with direction from the District Manager.

Reserve Account

The Indenture establishes a Series 2022 Reserve Account within the Debt Service Reserve Fund solely for the benefit of the Series 2022 Bonds. Net proceeds of the Series 2022 Bonds shall be deposited into the Series 2022 Reserve Account in the amount of the Series 2022 Reserve Requirement, and such moneys, together with any other moneys deposited into the Series 2022 Reserve Account shall be applied for the purposes provided in the Indenture.

"Series 2022 Reserve Requirement" or "Reserve Requirement" shall be (i) initially, an amount equal to the maximum annual debt service on the Series 2022 Bonds as calculated from time to time; (ii) upon the occurrence of the Reserve Release Conditions #1, fifty percent (50%) of the maximum annual debt service on the Series 2022 Bonds as calculated from time to time; and (iii) upon the occurrence of the Reserve Release Conditions #2, ten percent (10%) of the maximum annual debt service on the Series 2022 Bonds as calculated from time to time. Upon satisfaction of the Reserve Release Conditions #1 or Reserve Release Conditions #2, as applicable, such excess amount shall be released from the Series 2022 Reserve Account and transferred to either or both of the respective Series 2022 Acquisition and Construction Accounts in accordance with the provisions of the Second Supplemental Indenture. For the purpose of
calculating the Series 2022 Reserve Requirement, maximum annual debt service, fifty percent (50%) of maximum annual debt service, or ten percent (10%) of the maximum annual debt services, as the case may be, shall be recalculated in connection with the extraordinary mandatory redemption described in the Second Supplemental Indenture (but not upon the optional or mandatory sinking fund redemption thereof), and such excess amount shall be released from the Series 2022 Reserve Account and, other than as provided in the immediately preceding sentence, transferred to the Series 2022 General Redemption Subaccount or the Series 2022 Prepayment Subaccount, as applicable, in accordance with the provisions of the Second Supplemental Indenture. Amounts on deposit in the Series 2022 Reserve Account may, upon final maturity or redemption of all Outstanding Series 2022 Bonds be used to pay principal of and interest on the Series 2022 Bonds at that time. Initially, the Series 2022 Reserve Requirement shall be equal to $ 	.

"Reserve Release Conditions #1" shall mean collectively (i) all lots in the Series 2022 Assessment Area have been sold and closed to homebuilders, as certified by the District Manager in writing and upon which the Trustee may conclusively rely, and (ii) there shall be no Events of Default under the Series 2022 Indenture with respect to the Series 2022 Bonds, as certified by the District Manager.

"Reserve Release Conditions #2" shall mean collectively (i) satisfaction of Reserve Release Conditions #1, (ii) all homes within the Series 2022 Assessment Area have been built, sold and closed with end-users, and (iii) all of the principal portion of the Series 2022 Special Assessments has been assigned to such homes, as certified by the District Manager in writing and upon which the Trustee may conclusively rely.

Notwithstanding any provisions in the Master Indenture to the contrary, the District will covenant in the Indenture not to substitute the cash and Investment Securities on deposit in the Series 2022 Reserve Account with a Debt Service Reserve Insurance Policy or a Debt Service Reserve Letter of Credit. Except as provided in the next paragraph, all investment earnings on moneys in the Series 2022 Reserve Account shall remain on deposit therein.

On each March 15 and September 15 (or, if such date is not a Business Day, on the Business Day next preceding such day), the Trustee shall determine the amount on deposit in the Series 2022 Reserve Account and transfer any excess therein above the Series 2022 Reserve Requirement to Series 2022 Revenue Account in accordance with the Indenture.

Subject to the provisions of the Second Supplemental Indenture, on any date the District receives notice from the District Manager that a landowner wishes to prepay its Series 2022 Special Assessments relating to the benefited property of such landowner within the Series 2022 Assessment Area, or as a result of a mandatory true-up payment, the District shall, or cause the District Manager, on behalf of the District, to calculate the principal amount of such Prepayment taking into account a credit against the amount of Series 2022 Prepayment Principal due by the amount of money in the Series 2022 Reserve Account that will exceed the Series 2022 Reserve Requirement for the Series 2022 Bonds, taking into account the proposed Prepayment. Such excess shall be transferred to the Series 2022 Prepayment Subaccount of the Series 2022 Bond Redemption Account, as a result of such Prepayment. The District Manager, on behalf of the District, shall make such calculation within ten (10) Business Days after such Prepayment and shall instruct the Trustee in writing to transfer such amount of credit given to the respective landowner from the Series 2022 Reserve Account to the Series 2022 Prepayment Subaccount of the Series 2022 Bond Redemption Account to be used for the extraordinary mandatory redemption of the Series 2022 Bonds in accordance with the Second Supplemental Indenture. The Trustee is authorized to make such transfers and has no duty to verify such calculations.

Notwithstanding any of the foregoing, amounts on deposit in the Series 2022 Reserve Account shall be transferred by the Trustee, in the amounts directed in writing by the Majority Holders of the Series 2022
Bonds, to the Series 2022 General Redemption Subaccount of the Series 2022 Bond Redemption Account, if, as a result of the application of the provisions of the Master Indenture with respect to Events of Default, the proceeds received from lands sold subject to the Series 2022 Special Assessments and applied to redeem a portion of the Series 2022 Bonds is less than the principal amount of Series 2022 Bonds indebtedness attributable to such lands.

In addition, and together with the moneys transferred from the Series 2022 Reserve Account pursuant to this paragraph, if the amount on deposit in the Series 2022 General Redemption Subaccount or the Series 2022 Prepayment Subaccount, as the case may be, is not sufficient to redeem a principal amount of the Series 2022 Bonds in an Authorized Denomination, the Trustee is authorized to withdraw amounts from the Series 2022 Revenue Account to round up the amount in the Series 2022 Prepayment Subaccount or Series 2022 General Redemption Subaccount to the nearest Authorized Denomination. Notwithstanding the foregoing, no transfers from the Series 2022 Revenue Account shall be made to pay interest on and/or principal of the Series 2022 Bonds for the redemption pursuant to the Second Supplemental Indenture if as a result the deposits required under the following section cannot be made in full. See " – Deposit and Application of the Pledged Revenues" below.

It shall be an event of default under the Indenture if at any time the amount in the Series 2022 Reserve Account is less than the Reserve Requirement therefor as a result of the Trustee withdrawing an amount therefrom to satisfy the Debt Service Requirement for the Series 2022 Bonds and such amount has not been restored within ninety (90) days of such withdrawal.

Deposit and Application of the Pledged Revenues

The Indenture establishes a separate Account within the Revenue Fund designated as the "Series 2022 Revenue Account." Series 2022 Special Assessments (except for Prepayments of Series 2022 Special Assessments which shall be identified as such by the District to the Trustee and deposited in the Series 2022 Prepayment Subaccount) shall be deposited by the Trustee into the Series 2022 Revenue Account, which shall be applied as set forth in the Indenture. Pursuant to the Indenture, the Trustee shall transfer from amounts on deposit in the Series 2022 Revenue Account to the Funds and Accounts designated below, the following amounts, at the following times and in the following order of priority:

FIRST, upon receipt but no later than the Business Day next preceding each Interest Payment Date, commencing [ 	1, 20 ], to the Series 2022 Interest Account of the Debt Service Fund, an amount equal to the interest on the Series 2022 Bonds becoming due on the next succeeding Interest Payment Date, less any amount on deposit in the Series 2022 Interest Account not previously credited;

SECOND, no later than the Business Day next preceding each May 1, commencing [May 1, 20 ], to the Series 2022 Sinking Fund Account, an amount equal to the principal amount of Series 2022 Bonds subject to sinking fund redemption on such May 1, less any amount on deposit in the Series 2022 Sinking Fund Account not previously credited;

THIRD, upon receipt but no later than the Business Day next preceding each Interest Payment Date while Series 2022 Bonds remain Outstanding, to the Series 2022 Reserve Account, an amount equal to the amount, if any, which is necessary to make the amount on deposit therein equal to the Reserve Requirement for the Series 2022 Bonds;

FOURTH, notwithstanding the foregoing, at any time the Series 2022 Bonds are subject to redemption on a date which is not a May 1 or November 1 Interest Payment Date, the Trustee shall be authorized to transfer to the Series 2022 Interest Account, the amount necessary to pay interest on the Series 2022 Bonds subject to redemption on such date; and
FIFTH, subject to the foregoing paragraphs, the balance of any moneys remaining after making the foregoing deposits shall be first deposited into the Series 2022 Costs of Issuance Account upon the written request of the District to cover any deficiencies in the amount allocated to pay the cost of issuing the Series 2022 Bonds and next, any balance in the Series 2022 Revenue Account shall remain on deposit in such Series 2022 Revenue Account, unless needed for the purposes of rounding the principal amount of a Series 2022 Bond subject to extraordinary mandatory redemption pursuant to the Second Supplemental Indenture to an Authorized Denomination or unless pursuant to the Arbitrage Certificate, it is necessary to make a deposit into the Series 2022 Rebate Fund, in which case, the District shall direct the Trustee to make such deposit thereto.

Investments

The Trustee shall, as directed by the District in writing, invest moneys held in the Series Accounts in the Debt Service Fund and any Series Account within the Bond Redemption Fund only in Government Obligations and certain specified types of Investment Securities (as defined in the Master Indenture). The Trustee shall, as directed by the District in writing, invest moneys held in the Series 2022 Reserve Account of the Debt Service Reserve Fund in Investment Securities. All deposits in time accounts shall be subject to withdrawal without penalty and all investments shall mature or be subject to redemption by the holder without penalty, not later than the date when the amounts will foreseeably be needed for purposes set forth in the Master Indenture. All securities securing investments under the Indenture shall be deposited with a Federal Reserve Bank, with the trust department of the Trustee, as authorized by law with respect to trust funds in the State, or with a bank or trust company having a combined net capital and surplus of not less than $50,000,000. The interest and income received upon such investments and any interest paid by the Trustee or any other depository of any Fund or Account and any profit or loss resulting from the sale of securities shall be added or charged to the Fund or Account for which such investments are made; provided, however, that if the amount in any Fund or Account equals or exceeds the amount required to be on deposit therein, subject to the Indenture, any interest and other income so received shall be deposited in the applicable Series Account of the Revenue Fund. Upon written request of the District, or on its own initiative whenever payment is to be made out of any Fund or Account, the Trustee shall sell such securities as may be requested to make the payment and restore the proceeds to the respective Fund or Account in which the securities were held. The Trustee shall not be accountable for any depreciation in the value of any such security or for any loss resulting from the sale thereof. If net proceeds from the sale of securities held in any Fund or Account shall be less than the amount invested and, as a result, the amount on deposit in such Fund or Account is less than the amount required to be on deposit in such Fund or Account, the amount of such deficit shall be transferred to such Fund or Account from the related Series Account of the Revenue Fund. The Trustee shall not be liable or responsible for any loss or entitled to any gain resulting from any investment or sale upon the investment instructions of the District or otherwise. See "APPENDIX B: COPY OF MASTER INDENTURE AND PROPOSED FORM SECOND SUPPLEMENTAL INDENTURE"
attached hereto.

Master Indenture Provisions Relating to Bankruptcy or Insolvency of a Landowner

For purposes of the following, (a) the Series 2022 Bonds secured by and payable from Special Assessments levied against property owned by any Insolvent Taxpayer (defined below) are collectively referred to herein as the "Affected Bonds" and (b) the Special Assessments levied against any Insolvent Taxpayer's property and pledged under a Supplemental Indenture as security for the Affected Bonds are collectively referred to herein as the "Affected Special Assessments." The Master Indenture contains the following provisions which, pursuant to the Indenture, shall be applicable both before and after the commencement, whether voluntary or involuntary, of any case, proceeding or other action by or against any owner of any tax parcel subject to the Affected Special Assessments (herein, an "Insolvent Taxpayer") under any existing or future law of any jurisdiction relating to bankruptcy, insolvency, reorganization,
assignment for the benefit of creditors, or relief of debtors (a "Proceeding"). For as long as any Affected Bonds remain Outstanding, in any Proceeding involving the District, any Insolvent Taxpayer, the Affected Bonds or the Affected Special Assessments, the District shall be obligated to act in accordance with any direction from the Trustee with regard to all matters directly or indirectly affecting at least three percent (3%) of the Outstanding aggregate principal amount of the Affected Bonds or for as long as any Affected Bonds remain Outstanding, in any proceeding involving the District, any Insolvent Taxpayer, the Affected Bonds or the Affected Special Assessments or the Trustee. The District has agreed in the Master Indenture that it shall not be a defense to a breach of the foregoing covenant that it has acted upon advice of counsel in not complying with this covenant.

In the Master Indenture, the District will acknowledge and agree that, although the Affected Bonds were issued by the District, the Owners of the Affected Bonds are categorically the party with the ultimate financial stake in the transaction and, consequently, the party with a vested and pecuniary interest in a Proceeding. In the event of any Proceeding involving any Insolvent Taxpayer: (a) the District has agreed in the Master Indenture that it shall follow the direction of the Trustee in making any election, giving any consent, commencing any action or filing any motion, claim, obligation, notice or application or in taking any other action or position in any Proceeding or in any action related to a Proceeding that affects, either directly or indirectly, the Affected Special Assessments, the Affected Bonds or any rights of the Trustee under the Indenture; (b) the District has agreed in the Master Indenture that it shall not make any election, give any consent, commence any action or file any motion, claim, obligation, notice or application or take any other action or position in any Proceeding or in any action related to a Proceeding that affects, either directly or indirectly, the Affected Special Assessments, the Affected Bonds or any rights of the Trustee under the Indenture that is inconsistent with any direction from the Trustee; (c) the Trustee shall have the right, but is not obligated to, (i) vote in any such Proceeding any and all claims of the District, or (ii) file any motion, pleading, plan or objection in any such Proceeding on behalf of the District, including without limitation, motions seeking relief from the automatic stay, dismissal of the Proceeding, valuation of the property belonging to the Insolvent Taxpayer, termination of exclusivity, and objections to disclosure statements, plans of liquidation or reorganization, and motions for use of cash collateral, seeking approval of sales or post-petition financing. If the Trustee chooses to exercise any such rights, the District shall be deemed to have appointed the Trustee as its agent and granted to the Trustee an irrevocable power of attorney coupled with an interest, and its proxy, for the purpose of exercising any and all rights and taking any and all actions available to the District in connection with any Proceeding of any Insolvent Taxpayer, including without limitation, the right to file and/or prosecute any claims, to propose and prosecute a plan, to vote to accept or reject a plan, and to make any election under Section 1111(b) of the Bankruptcy Code and (d) the District shall not challenge the validity or amount of any claim submitted in such Proceeding by the Trustee in good faith or any valuations of the lands owned by any Insolvent Taxpayer submitted by the Trustee in good faith in such Proceeding or take any other action in such Proceeding, which is adverse to Trustee's enforcement of the District claim and rights with respect to the Affected Special Assessments or receipt of adequate protection (as that term is defined in the Bankruptcy Code). Without limiting the generality of the foregoing, the District has agreed in the Master Indenture that the Trustee shall have the right (i) to file a proof of claim with respect to the Affected Special Assessments, (ii) to deliver to the District a copy thereof, together with evidence of the filing with the appropriate court or other authority, and (iii) to defend any objection filed to said proof of claim. See "BONDOWNERS' RISKS – Bankruptcy Risks" herein.

Events of Default and Remedies

The Master Indenture provides that each of the following shall be an "Event of Default" under the Indenture, with respect to the Series 2022 Bonds:
if payment of any installment of interest on any Series 2022 Bond is not made when it becomes due and payable; or

if payment of the principal or Redemption Price of any Series 2022 Bond is not made when it becomes due and payable at maturity or upon call or presentation for redemption; or

if the District, for any reason, fails in, or is rendered incapable of, fulfilling its obligations under the Indenture or under the Act, as determined by a Majority Holder of the Series 2022 Bonds; or

if the District proposes or makes an assignment for the benefit of creditors or enters into a composition agreement with all or a material part of its creditors, or a trustee, receiver, executor, conservator, liquidator, sequestrator or other judicial representative, similar or dissimilar, is appointed for the District or any of its assets or revenues, or there is commenced any proceeding in liquidation, bankruptcy, reorganization, arrangement of debts, debtor rehabilitation, creditor adjustment or insolvency, local, state or federal, by or against the District and if such is not vacated, dismissed or stayed on appeal within ninety (90) days; or

if the District defaults in the due and punctual performance of any other covenant in the Indenture or in any Series 2022 Bond and such default continues for sixty (60) days after written notice requiring the same to be remedied shall have been given to the District by the Trustee, which may give such notice in its discretion and shall give such notice at the written request of the Majority Holder of the Outstanding Series 2022 Bonds; provided, however, that if such performance requires work to be done, actions to be taken, or conditions to be remedied, which by their nature cannot reasonably be done, taken or remedied, as the case may be, within such sixty (60) day period, no Event of Default shall be deemed to have occurred or exist if, and so long as the District shall commence such performance within such sixty
(60) day period and shall diligently and continuously prosecute the same to completion; or

if at any time the amount in the Series 2022 Reserve Account is less than the Reserve Requirement as a result of the Trustee withdrawing an amount therefrom to satisfy the Debt Service Requirement on the Series 2022 Bonds and such amount has not been restored within ninety (90) days of such withdrawal; or

if on an Interest Payment Date the amount in the Series 2022 Interest Account, the Series 2022 Principal Account or the Series 2022 Sinking Fund Account, as the case may be, is insufficient to pay all amounts payable on the Series 2022 Bonds on such Interest Payment Date (without regard to any amount available for such purpose in the Reserve Account); or

if, at any time after eighteen months following issuance of the Series 2022 Bonds, more than twenty percent (20%) of the "maintenance special assessments" levied by the District on District lands upon which the Series 2022 Special Assessments are levied to secure the Series 2022 Bonds pursuant to Section 190.021(3), Florida Statutes, as amended, and collected directly by the District have become due and payable and have not been paid, when due.

The Trustee shall not be required to rely on any official action, admission or declaration by the District before recognizing that an Event of Default under (c) above has occurred.

No Series 2022 Bonds shall be subject to acceleration. Upon occurrence and continuance of an Event of Default with respect to the Series 2022 Bonds, no optional redemption or extraordinary mandatory redemption of Series 2022 Bonds pursuant to the Indenture shall occur unless all of the Series 2022 Bonds will be redeemed or if 100% of the Holders of the Series 2022 Bonds agree to such redemption.
If any Event of Default with respect to the Series 2022 Bonds has occurred and is continuing, the Trustee, in its discretion may, and upon the written request of the Majority Holder of the Outstanding Series 2022 Bonds and receipt of indemnity to its satisfaction shall, in its own name:

by mandamus, or other suit, action or proceeding at law or in equity, enforce all rights of the Holders of the Series 2022 Bonds, including, without limitation, the right to require the District to carry out any agreements with, or for the benefit of, the Bondholders of the Series 2022 Bonds and to perform its or their duties under the Act;

bring suit upon the Series 2022 Bonds;

by action or suit in equity require the District to account as if it were the trustee of an express trust for the Holders of the Series 2022 Bonds;

by action or suit in equity enjoin any acts or things which may be unlawful or in violation of the rights of the Holders of the Series 2022 Bonds; and

by other proceeding in law or equity, exercise all rights and remedies provided for by any other document or instrument securing the Series 2022 Bonds.

If any proceeding taken by the Trustee on account of any Event of Default with respect to the Series 2022 Bonds is discontinued or is determined adversely to the Trustee, then the District, the Trustee, the Paying Agent and the Bondholders of the Series 2022 Bonds shall be restored to their former positions and rights under the Indenture as though no such proceeding had been taken.

Subject to the provisions of the Indenture, the Majority Holder of the Outstanding Series 2022 Bonds then subject to remedial proceedings under the Master Indenture shall have the right to direct the method and place of conducting all remedial proceedings by the Trustee under the Indenture, provided that such directions shall not be otherwise than in accordance with law or the provisions of the Indenture.

ENFORCEMENT OF ASSESSMENT COLLECTIONS

General

The primary source of payment for the Series 2022 Bonds is the collection of Series 2022 Special Assessments imposed on certain assessable lands in the District specially benefited by the Series 2022 Project pursuant to the Assessment Proceedings. See "ASSESSMENT METHODOLOGY AND THE ALLOCATION OF ASSESSMENTS" herein and "APPENDIX D: ASSESSMENT METHODOLOGY."

The imposition, levy, and collection of Series 2022 Special Assessments must be done in compliance with the provisions of Florida law. Failure by the District, the Polk County Tax Collector ("Tax Collector") or the Polk County Property Appraiser ("Property Appraiser") to comply with such requirements could result in delay in the collection of, or the complete inability to collect, Series 2022 Special Assessments during any year. Such delays in the collection of Series 2022 Special Assessments, or complete inability to collect the Series 2022 Special Assessments, would have a material adverse effect on the ability of the District to make full or punctual payment of the debt service requirements on the Series 2022 Bonds. See "BONDOWNERS' RISKS." To the extent that landowners fail to pay the Series 2022 Special Assessments, delay payments, or are unable to pay the same, the successful pursuance of collection procedures available to the District is essential to continued payment of principal of and interest on the Series 2022 Bonds.
For the Series 2022 Special Assessments to be valid, the Series 2022 Special Assessments must meet two requirements: (1) the benefit from the Series 2022 Project to the lands subject to the Series 2022 Special Assessments must exceed or equal the amount of the Series 2022 Special Assessments, and (2) the Series 2022 Special Assessments must be fairly and reasonably allocated across all such benefitted properties. The Certificate of the Methodology Consultant will certify that these requirements have been met with respect to the Series 2022 Special Assessments.

Pursuant to the Act, and the Assessment Proceedings, the District may collect the Series 2022 Special Assessments through a variety of methods. Initially, and for undeveloped properties owned by the Landowners and subsequent landowners, the District will directly issue annual bills to landowners requiring payment of the Series 2022 Special Assessments, and will enforce that bill through foreclosure proceedings. See "ASSESSMENT METHODOLOGY AND THE ALLOCATION OF ASSESSMENTS" and
"APPENDIX D: ASSESSMENT METHODOLOGY." As lands are developed, the Series 2022 Special Assessments will be added to the County tax roll and collected pursuant to the Uniform Method. The following is a description of certain statutory provisions relating to each of these collection methods. Such description is not intended to be exhaustive and is qualified in its entirety by reference to such statutes.

Direct Billing & Foreclosure Procedure

As noted above, and pursuant to Chapters 170 and 190 of the Florida Statutes, the District may directly levy, collect and enforce the Series 2022 Special Assessments. In this context, Section 170.10 of the Florida Statutes provides that upon the failure of any property owner to timely pay all or any part of the annual installment of principal and/or interest of a special assessment due, including the Series 2022 Special Assessments, the whole assessment, with the interest and penalties thereon, shall immediately become due and payable and subject to foreclosure. Generally stated, the governing body of the entity levying the special assessment, in this case the District, may foreclose by commencing a foreclosure proceeding in the same manner as the foreclosure of a real estate mortgage, or, alternatively, by commencing an action under Chapter 173, Florida Statutes, which relates to foreclosure of municipal tax and special assessment liens. Such proceedings are in rem, meaning that the action would be brought against the land, and not against the landowner. In light of the one year tolling period required before the District may commence a foreclosure action under Chapter 173, Florida Statutes, it is likely the District would commence an action to foreclose in the same manner as the foreclosure of a real estate mortgage rather than proceeding under Chapter 173, Florida Statutes.

Enforcement of the obligation to pay Series 2022 Special Assessments and the ability to foreclose the lien of such Series 2022 Special Assessments upon the failure to pay such Series 2022 Special Assessments may not be readily available or may be limited because enforcement is dependent upon judicial action which is often subject to discretion and delay. Additionally, there is no guarantee that there will be demand for any foreclosed lands sufficient to repay the Series 2022 Special Assessments. See "BONDOWNERS' RISKS."

Uniform Method Procedure

Subject to certain conditions, and for developed lands (as described above), the District may alternatively elect to collect the Series 2022 Special Assessments using the Uniform Method. The Uniform Method of collection is available only in the event the District complies with statutory and regulatory requirements and enters into agreements with the Tax Collector and Property Appraiser providing for the Series 2022 Special Assessments to be levied and then collected in this manner.

If the Uniform Method of collection is used, the Series 2022 Special Assessments will be collected together with County, school, special district, and other ad valorem taxes and non-ad valorem assessments
(together, "Taxes and Assessments"), all of which will appear on the tax bill (also referred to as a "tax notice") issued to each landowner in the District. The statutes relating to enforcement of Taxes and Assessments provide that such Taxes and Assessments become due and payable on November 1 of the year when assessed, or as soon thereafter as the certified tax roll is received by the Tax Collector, and constitute a lien upon the land from January 1 of such year until paid or barred by operation of law. Such taxes and assessments – including the Series 2022 Special Assessments – are to be billed, and landowners in the District are required to pay, all Taxes and Assessments without preference in payment of any particular increment of the tax bill, such as the increment owing for the Series 2022 Special Assessments.

All Taxes and Assessments are payable at one time, except for partial payment schedules as may be provided by Florida law such as Sections 197.374 and 197.222, Florida Statutes. Partial payments made pursuant to Sections 197.374 and 197.222, Florida Statutes, are distributed in equal proportion to all taxing districts and levying authorities applicable to that account. If a taxpayer does not make complete payment of the total amount, he or she cannot designate specific line items on his or her tax bill as deemed paid in full. Therefore, in the event the Series 2022 Special Assessments are to be collected pursuant to the Uniform Method, any failure to pay any one line item, would cause the Series 2022 Special Assessments to not be collected to that extent, which could have a significant adverse effect on the ability of the District to make full or punctual payment of the debt service requirements on the Series 2022 Bonds.

Under the Uniform Method, if the Series 2022 Special Assessments are paid during November when due or during the following three months, the taxpayer is granted a variable discount equal to 4% in November and decreasing one percentage point per month to 1% in February. All unpaid Taxes and Assessments become delinquent on April 1 of the year following assessment.

The Tax Collector is required to collect the Taxes and Assessments on the tax bill prior to April 1 and, after that date, to institute statutory procedures upon delinquency to collect such Taxes and Assessments through the sale of "tax certificates," as discussed below. Delay in the mailing of tax notices to taxpayers may result in a delay throughout this process. Neither the District nor the Underwriter can give any assurance to the holders of the Series 2022 Bonds (1) that the past experience of the Tax Collector with regard to tax and special assessment delinquencies is applicable in any way to the Series 2022 Special Assessments, (2) that future landowners and taxpayers in the District will pay such Series 2022 Special Assessments, (3) that a market may exist in the future for tax certificates in the event of sale of such certificates for taxable units within the District, and (4) that the eventual sale of tax certificates for real property within the District, if any, will be for an amount sufficient to pay amounts due under the Assessment Proceedings to discharge the lien of the Series 2022 Special Assessments and all other liens that are coequal therewith.

Collection of delinquent Series 2022 Special Assessments under the Uniform Method is, in essence, based upon the sale by the Tax Collector of "tax certificates" and remittance of the proceeds of such sale to the District for payment of the Series 2022 Special Assessments due. Prior to the sale of tax certificates, the landowner may bring current the delinquent Taxes and Assessments and cancel the tax certificate process by paying the total amount of delinquent Taxes and Assessments plus all applicable interest, costs and charges. If the landowner does not act, the Tax Collector is required to attempt to sell tax certificates by public bid to the person who pays the delinquent Taxes and Assessments owing, and any applicable interest, costs and charges, and who accepts the lowest interest rate per annum to be borne by the certificates (but not more than 18%).

If there are no bidders, the tax certificate is issued to the County. The County is to hold, but not pay for, the tax certificate with respect to the property, bearing interest at the maximum legal rate of interest, which is currently 18%. The Tax Collector does not collect any money if tax certificates are issued, or struck off, to the County. The County may sell such certificates to the public at any time after issuance, but
before a tax deed application is made, at the face amount thereof plus interest at the rate of not more than 18% per annum, costs and charges. Proceeds from the sale of tax certificates are required to be used to pay Taxes and Assessments (including the Series 2022 Special Assessments), interest, costs and charges on the real property described in the certificate.

Any tax certificate in the hands of a person other than the County may be redeemed and canceled, in whole or in part (under certain circumstances), at any time before a tax deed is issued (unless full payment for a tax deed is made to the clerk of court, including documentary stamps and recording fees), at a price equal to the face amount of the certificate or portion thereof together with all interest, costs, and charges due. Regardless of the interest rate actually borne by the certificates, persons redeeming tax certificates must pay a minimum interest rate of 5%, unless the rate borne by the certificates is zero percent. The proceeds of such a redemption are paid to the Tax Collector who transmits to the holder of the tax certificate such proceeds less service charges, and the certificate is canceled. Redemption of tax certificates held by the County is effected by purchase of such certificates from the County, as described above.

For any holder other than the County, a tax certificate expires seven years after the date of issuance, if a tax deed has not been applied for, and no other administrative or legal proceeding, including a bankruptcy, has existed of record, the tax certificate is null and void. After an initial period ending two years from April 1 of the year of issuance of a certificate, during which period actions against the land are held in abeyance to allow for sales and redemptions of tax certificates, and before the expiration of seven years from the date of issuance, the holder of a certificate may apply for a tax deed to the subject land. The applicant is required to pay to the Tax Collector at the time of application all amounts required to redeem or purchase all other outstanding tax certificates covering the land, plus interest, any omitted taxes or delinquent taxes and interest, and current taxes, if due (as well as any costs of resale, if applicable). If the County holds a tax certificate on property valued at $5,000 or more and has not succeeded in selling it, the County must apply for a tax deed two years after April 1 of the year of issuance of the certificate or as soon thereafter as is reasonable. The County pays costs and fees to the Tax Collector but not any amount to redeem any other outstanding certificates covering the land. Thereafter, the property is advertised for public sale.

In any such public sale conducted by the Clerk of the Circuit Court, the private holder of the tax certificate who is seeking a tax deed for non-homestead property is deemed to submit a minimum bid equal to the amount required to redeem the tax certificate, charges for the cost of sale, including costs incurred for the service of notice required by statute, redemption of other tax certificates on the land, and all other costs to the applicant for the tax deed, plus interest thereon. In the case of homestead property, the minimum bid is also deemed to include, in addition to the amount of money required for the minimum bid on non- homestead property, an amount equal to one-half of the latest assessed value of the homestead. If there are no higher bids, the holder receives title to the land, and the amounts paid for the certificate and in applying for a tax deed are credited toward the purchase price. The holder is also responsible for payment of any amounts included in the bid not already paid, including but not limited to, documentary stamp tax, recording fees, and, if property is homestead property, the moneys to cover the one-half value of the homestead. If there are other bids, the holder may enter the bidding. The highest bidder is awarded title to the land. The portion of proceeds of such sale needed to redeem the tax certificate, together with all subsequent unpaid taxes plus the costs and expenses of the application for deed, with interest on the total of such sums, are forwarded to the holder thereof or credited to such holder if such holder is the successful bidder. Excess proceeds are distributed first to satisfy governmental liens against the land and then to the former title holder of the property (less service charges), lienholder of record, mortgagees of record, vendees of recorded contracts for deeds, and other lienholders and any other person to whom the land was last assessed on the tax roll for the year in which the land was assessed, all as their interest may appear. If the property is purchased for an amount in excess of the statutory bid of the certificate holder, but such excess is not
sufficient to pay all governmental liens of record, the excess shall be paid to each governmental unit pro rata.

Except for certain governmental liens and certain restrictive covenants and restrictions, no right, interest, restriction or other covenant survives the issuance of a tax deed. Thus, for example, outstanding mortgages on property subject to a tax deed would be extinguished.

If there are no bidders at the public sale, the clerk shall enter the land on a list entitled "lands available for taxes" and shall immediately notify the City that the property is available. At any time within ninety (90) days from the date the property is placed on the list, the County may purchase the land for the opening bid, or may waive its rights to purchase the property. Thereafter, and without further notice or advertising, any person, the County or any other governmental unit may purchase the land by paying the amount of the opening bid. Ad valorem taxes and non-ad valorem assessments accruing after the date of public sale do not require repetition of the bidding process but are added to the minimum bid. Three years from the date the property was offered for sale, unsold lands escheat to the County in which they are located, free and clear, and all tax certificates and liens against the property are canceled and a deed is executed vesting title in the governing board of such County.

There can be no guarantee that the Uniform Method will result in the payment of Series 2022 Special Assessments. For example, the demand for tax certificates is dependent upon various factors, which include the rate of interest that can be earned by ownership of such certificates and the underlying value of the land that is the subject of such certificates and which may be subject to sale at the demand of the certificate holder. Therefore, the underlying market value of the property within the District may affect the demand for certificates and the successful collection of the Series 2022 Special Assessments, which are the primary source of payment of the Series 2022 Bonds. Additionally, legal proceedings under Federal bankruptcy law brought by or against a landowner who has not yet paid his or her property taxes or assessments would likely result in a delay in the sale of tax certificates. See "BONDHOLDERS' RISKS."

BONDOWNERS' RISKS

There are certain risks inherent in an investment in bonds issued by a public authority or governmental body in the State and secured by special assessments. Certain of these risks are described in other sections of this Limited Offering Memorandum. Certain additional risks are associated with the Series 2022 Bonds offered hereby and are set forth below. Prospective investors in the Series 2022 Bonds should have such knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of an investment in the Series 2022 Bonds and have the ability to bear the economic risks of such prospective investment, including a complete loss of such investment. This section does not purport to summarize all risks that may be associated with purchasing or owning the Series 2022 Bonds, and prospective purchasers are advised to read this Limited Offering Memorandum in its entirety for a more complete description of investment considerations relating to the Series 2022 Bonds.

Concentration of Land Ownership

As of the date of delivery of the Series 2022 Bonds, the Landowners own all of the assessable lands within the Series 2022 Assessment Area, which are the lands that will be subject to the Series 2022 Special Assessments securing the Series 2022 Bonds. Payment of the Series 2022 Special Assessments is primarily dependent upon their timely payment by the Landowners and the other future landowners in the Series 2022 Assessment Area. Non-payment of the Series 2022 Special Assessments by any of the landowners could have a substantial adverse impact upon the District's ability to pay debt service on the Series 2022 Bonds. See "THE LANDOWNERS" and "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES
2022 BONDS" herein.
Bankruptcy and Related Risks

In the event of the institution of bankruptcy or similar proceedings with respect to the Landowners or any other owner of benefited property, delays could occur in the payment of debt service on the Series 2022 Bonds, as such bankruptcy could negatively impact the ability of: (i) the Landowners and any other landowner to pay the Series 2022 Special Assessments; (ii) the Tax Collector to sell tax certificates in relation to such property with respect to the Series 2022 Special Assessments being collected pursuant to the Uniform Method; and (iii) the District to foreclose the lien of the Series 2022 Special Assessments not being collected pursuant to the Uniform Method. In addition, the remedies available to the Owners of the Series 2022 Bonds under the Indenture are in many respects dependent upon judicial actions which are often subject to discretion and delay. Under existing constitutional and statutory law and judicial decisions, the remedies specified by federal, state and local law and in the Indenture and the Series 2022 Bonds, including, without limitation, enforcement of the obligation to pay Series 2022 Special Assessments and the ability of the District to foreclose the lien of the Series 2022 Special Assessments if not being collected pursuant to the Uniform Method, may not be readily available or may be limited. The various legal opinions to be delivered concurrently with the delivery of the Series 2022 Bonds (including Bond Counsel's approving opinion) will be qualified as to the enforceability of the various legal instruments by limitations imposed by bankruptcy, reorganization, insolvency or other similar laws affecting the rights of creditors enacted before or after such delivery. The inability, either partially or fully, to enforce remedies available with respect to the Series 2022 Bonds could have a material adverse impact on the interest of the Owners thereof.

A 2011 bankruptcy court decision in Florida held that the governing body of a community development district, and not the bondholders or indenture trustee, was the creditor of the landowners/debtors in bankruptcy with respect to claims for special assessments, and thus only the district could vote to approve or disapprove a reorganization plan submitted by the debtors in the case. The district voted in favor of the plan. The governing body of the district was at that time elected by the landowners rather than qualified electors. Under the reorganization plan that was approved, a two-year moratorium was placed on the debtor landowners' payment of special assessments. As a result of this non-payment of assessments, debt service payments on the district's bonds were delayed for two years or longer. The Master Indenture provides for the delegation of certain rights from the District to the Trustee in the event of a bankruptcy or similar proceeding with respect to an "Insolvent Taxpayer" (as previously defined). See "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2022 BONDS – Indenture Provisions
Relating to Bankruptcy or Insolvency of a Landowner." The District cannot express any view whether such delegation would be enforceable.

Series 2022 Special Assessments Are Non-Recourse

The principal security for the payment of the principal and interest on the Series 2022 Bonds is the timely collection of the Series 2022 Special Assessments. The Series 2022 Special Assessments do not constitute a personal indebtedness of the landowners of the land subject thereto, but are secured by a lien on such land. There is no assurance that the Landowners or subsequent landowners will be able to pay the Series 2022 Special Assessments or that they will pay such Series 2022 Special Assessments even though financially able to do so. Neither the Landowners nor any other subsequent landowners have any personal obligation to pay the Series 2022 Special Assessments. Neither the Landowners nor any subsequent landowners are guarantors of payment of any Series 2022 Special Assessments, and the recourse for the failure of the Landowners or any subsequent landowner to pay the Series 2022 Special Assessments is limited to the collection proceedings against the land subject to such unpaid Series 2022 Special Assessments, as described herein. Therefore the likelihood of collection of the Series 2022 Special Assessments may ultimately depend on the market value of the land subject to the Series 2022 Special Assessments. While the ability of the Landowners or subsequent landowners to pay the Series 2022 Special
Assessments is a relevant factor, the willingness of the Landowners or subsequent landowners to pay the Series 2022 Special Assessments, which may also be affected by the value of the land subject to the Series 2022 Special Assessments, is also an important factor in the collection of Series 2022 Special Assessments. The failure of the Landowners or subsequent landowners to pay the Series 2022 Special Assessments could render the District unable to collect delinquent Series 2022 Special Assessments, if any, and provided such delinquencies are significant, could negatively impact the ability of the District to make the full or punctual payment of debt service on the Series 2022 Bonds.

Regulatory and Environmental Risks

The development of the District Lands is subject to comprehensive federal, state and local regulations and future changes to such regulations. Approval is required from various public agencies in connection with, among other things, the design, nature and extent of planned improvements, both public and private, and construction of the infrastructure in accordance with applicable zoning, land use and environmental regulations. Although all such approvals required to date have been received and any further approvals are anticipated to be received as needed, failure to obtain any such approvals in a timely manner could delay or adversely affect the completion of the development of the District Lands. See "THE DEVELOPMENT – Development Approvals," herein for more information.

The value of the land within the District, the success of the Development, the development of the Series 2022 Assessment Area and the likelihood of timely payment of principal and interest on the Series 2022 Bonds could be affected by environmental factors with respect to the land in the District. Should the land be contaminated by hazardous materials, this could materially and adversely affect the value of the land in the District, which could materially and adversely affect the success of the development of the lands within the District and the likelihood of the timely payment of the Series 2022 Bonds. The District has not performed, nor has the District requested that there be performed on its behalf, any independent assessment of the environmental conditions within the District. See "THE DEVELOPMENT – Environmental" for information on environmental site assessments obtained or received. Nevertheless, it is possible that hazardous environmental conditions could exist within the District or in the vicinity of the District and that such conditions could have a material and adverse impact upon the value of the benefited lands within the District. No assurance can be given that unknown hazardous materials, protected animals or vegetative species, etc., do not currently exist or may not develop in the future, whether originating within the District or from surrounding property, and what effect such may have on the development or sale of the lands in the Series 2022 Assessment Area.

The value of the lands subject to the Series 2022 Special Assessments could also be adversely impacted by flooding or wind damage caused by hurricanes, tropical storms, or other catastrophic events. In addition to potential damage or destruction to any existing development or construction in or near the District, such catastrophic events could potentially render the District Lands unable to support future development. The occurrence of any such events could materially adversely impact the District's ability to pay principal and interest on the Series 2022 Bonds. The Series 2022 Bonds are not insured, and the District's casualty insurance policies do not insure against losses incurred on private lands within its boundaries.

Economic Conditions and Changes in Development Plans

The successful development of the Series 2022 Assessment Area and the sale of residential units therein, once such homes are built, may be affected by unforeseen changes in general economic conditions, fluctuations in the real estate market and other factors beyond the control of the Landowners. Moreover, the Landowners have the right to modify or change plans for development of the Development from time to time, including, without limitation, land use changes, changes in the overall land and phasing plans, and
changes to the type, mix, size and number of units to be developed, and may seek in the future, in accordance with and subject to the provisions of the Act, to contract or expand the boundaries of the District.

Other Taxes and Assessments

The willingness and/or ability of an owner of benefited land to pay the Series 2022 Special Assessments could be affected by the existence of other taxes and assessments imposed upon such property by the District, the County or any other local special purpose or general purpose governmental entities. County, school, special district taxes and special assessments, and voter-approved ad valorem taxes levied to pay principal of and interest on debt, including the Series 2022 Special Assessments, collected pursuant to the Uniform Method are payable at one time. Public entities whose boundaries overlap those of the District could, without the consent of the owners of the land within the District, impose additional taxes on the property within the District. The District anticipates imposing operation and maintenance assessments encumbering the same property encumbered by the Series 2022 Special Assessments. In addition, lands within the District may also be subject to assessments by property owners' and homeowners' associations. See "THE DEVELOPMENT – Taxes, Fees and Assessments" for additional information.

Under Florida law, a landowner may contest the assessed valuation determined for its property that forms the basis of ad-valorem taxes such landowner must pay. During this contest period, the sale of a tax certificate under the Uniform Method will be suspended. If the Series 2022 Special Assessments are being collected along with ad valorem taxes pursuant to the Uniform Method, tax certificates will not be sold with respect to such Series 2022 Special Assessment, even though the landowner is not contesting the amount of the Series 2022 Special Assessment. However, Section 194.014, Florida Statutes, requires taxpayers challenging the assessed value of their property to pay all non-ad valorem assessments and at least 75% of their ad valorem taxes before they become delinquent. Likewise, taxpayers who challenge the denial of an exemption or classification or a determination that their improvements were substantially complete must pay all non-ad valorem assessments and the amount of ad valorem taxes that they admit in good faith to be owing. If a taxpayer fails to pay property taxes as set forth above, the Value Adjustment Board considering the taxpayer's challenge is required to deny such petition by written decision by April 20 of such year.

Limited Secondary Market for Series 2022 Bonds

The Series 2022 Bonds may not constitute a liquid investment, and there is no assurance that a liquid secondary market will exist for the Series 2022 Bonds in the event an Owner thereof determines to solicit purchasers for the Series 2022 Bonds. Even if a liquid secondary market exists, there can be no assurance as to the price for which the Series 2022 Bonds may be sold. Such price may be lower than that paid by the current Owners of the Series 2022 Bonds, depending on the progress of development of the Development and the lands within the Series 2022 Assessment Area, as applicable, existing real estate and financial market conditions and other factors.

Inadequacy of Reserve Account

Some of the risk factors discussed herein, which, if materialized, would result in a delay in the collection of the Series 2022 Special Assessments, may not adversely affect the timely payment of debt service on the Series 2022 Bonds because of the Series 2022 Reserve Account. The ability of the Series 2022 Reserve Account to fund deficiencies caused by delinquencies in the Series 2022 Special Assessments is dependent on the amount, duration and frequency of such deficiencies. Moneys on deposit in the Series 2022 Reserve Account may be invested in certain obligations permitted under the Indenture. Fluctuations in interest rates and other market factors could affect the amount of moneys in such Reserve Account to make up deficiencies. If the District has difficulty in collecting the Series 2022 Special Assessments, the Series 2022 Reserve Account would be rapidly depleted and the ability of the District to pay debt service
on the Series 2022 Bonds could be materially adversely affected. In addition, during an Event of Default under the Indenture, the Trustee may withdraw moneys from the Series 2022 Reserve Account and such other Funds, Accounts and subaccounts created under the Indenture to pay its extraordinary fees and expenses incurred in connection with such Event of Default. If in fact the Series 2022 Reserve Account is accessed for any purpose, the District does not have a designated revenue source for replenishing such account. Moreover, the District may not be permitted to re-assess real property then burdened by the Series 2022 Special Assessments in order to provide for the replenishment of the Series 2022 Reserve Account. See "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2022 BONDS – Series 2022
Reserve Account" herein for more information about the Series 2022 Reserve Account.

Legal Delays

If the District should commence a foreclosure action against a landowner for nonpayment of Series 2022 Special Assessments that are not being collected pursuant to the Uniform Method, such landowner and/or its mortgagee(s) may raise affirmative defenses to such foreclosure action. Although the District expects that such affirmative defenses would likely be proven to be without merit, they could result in delays in completing the foreclosure action. In addition, the District is required under the Indenture to fund the costs of such foreclosure. It is possible that the District will not have sufficient funds and will be compelled to request the Holders of the Series 2022 Bonds to allow funds on deposit under the Indenture to be used to pay the costs of the foreclosure action. Under the Code, there are limitations on the amounts of proceeds from the Series 2022 Bonds that can be used for such purpose.

IRS Examination and Audit Risk

The Internal Revenue Service (the "IRS") routinely examines bonds issued by state and local governments, including bonds issued by community development districts. In 2016, the IRS concluded its lengthy examination of certain issues of bonds (for purposes of this subsection, the "Audited Bonds") issued by Village Center Community Development District (the "Village Center CDD"). During the course of the audit of the Audited Bonds, Village Center CDD received a ruling dated May 30, 2013, in the form of a non-precedential technical advice memorandum ("TAM") concluding that Village Center CDD is not a political subdivision for purposes of Section 103(a) of the Code because Village Center CDD was organized and operated to perpetuate private control and avoid indefinitely responsibility to an electorate, either directly or through another elected state or local government body. Such a conclusion could lead to the further conclusion that the interest on the Audited Bonds was not excludable from gross income of the owners of such bonds for federal income tax purposes. Village Center CDD received a second TAM dated June 17, 2015, which granted relief to Village Center CDD from retroactive application of the IRS's conclusion regarding its failure to qualify as a political subdivision. Prior to the conclusion of the audits, the Audited Bonds were all refunded with taxable bonds. The audit of the Audited Bonds that were issued for utility improvements were closed without change to the tax exempt status of those Audited Bonds on April 25, 2016, and the audit of the remainder of the Audited Bonds (which funded recreational amenity acquisitions from entities related to the principal landowner in the Village Center CDD) was closed on July 14, 2016, without the IRS making a final determination that the interest on the Audited Bonds in question was required to be included in gross income. However, the IRS letter to the Village Center CDD with respect to this second set of Audited Bonds noted that the IRS found that the Village Center CDD was not a "proper issuer of tax-exempt bonds" and that those Audited Bonds were private-activity bonds that did not fall in any of the categories that qualify for tax-exemption. Although the TAMs and the letters to the Village Center CDD from the IRS referred to above are addressed to, and binding only on, the IRS and Village Center CDD in connection with the Audited Bonds, they reflect the audit position of the IRS, and there can be no assurance that the IRS would not commence additional audits of bonds issued by other community development districts raising issues similar to the issues raised in the case of the Audited Bonds
based on the analysis set forth in the first TAM or on the related concerns addressed in the July 14, 2016 letter to the Village Center CDD.

On February 23, 2016, the IRS published proposed regulations designed to provide prospective guidance with respect to potential private business control of issuers by providing a new definition of political subdivision for purposes of determining whether an entity is an appropriate issuer of bonds the interest on which is excluded from gross income for federal tax purposes. The proposed regulations require that a political subdivision (i) have the power to exercise at least one sovereign power, (ii) be formed and operated for a governmental purpose, and (iii) have a governing body controlled by or have significant uses of its funds or assets otherwise controlled by a government unit with all three sovereign powers or by an electorate that is not controlled by an unreasonably small number of unrelated electors. On October 4, 2017, the Treasury Department ("Treasury") announced that it would withdraw the proposed regulations, stating that, "while Treasury and the IRS continue to study the legal issues relating to political subdivisions, Treasury and the IRS currently believe that these proposed regulations should be withdrawn in their entirety, and plan to publish a withdrawal of the proposed regulations shortly in the Federal Register. Treasury and the IRS may propose more targeted guidance in the future after further study of the relevant legal issues." Notice of withdrawal of the proposed regulations was published in the Federal Register on October 20, 2017.

It has been reported that the IRS has closed audits of other community development districts in Florida with no change to such districts' bonds' tax-exempt status, but has advised such districts that such districts must have public electors within the timeframe established by the applicable state law or their bonds may be determined to be taxable retroactive to the date of issuance. Pursuant to the Act, general elections are not held until the later of six years from the date of establishment of the community development district or the time at which there are at least 250 qualified electors in the district. The District, unlike Village Center CDD, was formed with the intent that it will contain a sufficient number of residents to allow for a transition to control by a general electorate. Currently, all of the members of the Board of the District were elected by the landowners and none were elected by qualified electors. The Landowners will certify as to its expectations as to the timing of the transition of control of the Board of the District to qualified electors pursuant to the Act, and it expectations as to compliance with the Act by any members of the Board that it elect. Such certification by the Landowners does not ensure that such certification shall be determinative of, or may influence the outcome of any audit by the IRS, or any appeal from such audit, that may result in an adverse ruling that the District is not a political subdivision for purposes of Section 103(a) of the Code. Further, there can be no assurance that an audit by the IRS of the Series 2022 Bonds will not be commenced. The District has no reason to believe that any such audit will be commenced, or that any such audit, if commenced, would result in a conclusion of noncompliance with any applicable state or federal law.

Owners of the Series 2022 Bonds are advised that, if the IRS does audit the Series 2022 Bonds, under its current procedures, at least during the early stages of an audit, the IRS will treat the District as the taxpayer, and the Owners of the Series 2022 Bonds may have limited rights to participate in those proceedings. The commencement of such an audit could adversely affect the market value and liquidity of the Series 2022 Bonds until the audit is concluded, regardless of the ultimate outcome. In addition, in the event of an adverse determination by the IRS with respect to the tax-exempt status of interest on the Series 2022 Bonds, it is unlikely the District will have available revenues to enable it to contest such determination or enter into a voluntary financial settlement with the IRS. Further, an adverse determination by the IRS with respect to the tax-exempt status of interest on the Series 2022 Bonds would adversely affect the availability of any secondary market for the Series 2022 Bonds. Should interest on the Series 2022 Bonds become includable in gross income for federal income tax purposes, not only will Owners of Series 2022 Bonds be required to pay income taxes on the interest received on such Series 2022 Bonds and related penalties, but because the interest rate on such Series 2022 Bonds will not be adequate to compensate
Owners of the Series 2022 Bonds for the income taxes due on such interest, the value of the Series 2022 Bonds may decline.

THE INDENTURE DOES NOT PROVIDE FOR ANY ADJUSTMENT IN THE INTEREST RATES ON THE SERIES 2022 BONDS IN THE EVENT OF AN ADVERSE DETERMINATION BY THE IRS WITH RESPECT TO THE TAX-EXEMPT STATUS OF INTEREST ON THE SERIES 2022 BONDS. PROSPECTIVE PURCHASERS OF THE SERIES 2022 BONDS SHOULD EVALUATE WHETHER THEY CAN OWN THE SERIES 2022 BONDS IN THE EVENT THAT THE INTEREST ON THE SERIES 2022 BONDS BECOMES TAXABLE AND/OR THE DISTRICT IS EVER DETERMINED TO NOT BE A POLITICAL SUBDIVISION FOR PURPOSES OF THE CODE AND/OR SECURITIES ACT (AS HEREINAFTER DEFINED).

Loss of Exemption from Securities Registration

Since the Series 2022 Bonds have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, because of the exemption for political subdivisions, if the District is ever deemed by the IRS, judicially or otherwise, not to be a political subdivision for purposes of the Code, it is possible that federal or state regulatory authorities could also determine that the District is not a political subdivision for purposes of federal and state securities laws. Accordingly, the District and purchasers of Series 2022 Bonds may not be able to rely on the exemption from registration under the Securities Act relating to securities issued by political subdivisions. In that event, the Owners of the Series 2022 Bonds would need to ensure that subsequent transfers of the Series 2022 Bonds are made pursuant to a transaction that is not subject to the registration requirements of the Securities Act and applicable state securities laws.

Federal Tax Reform

Various legislative proposals are mentioned from time to time by members of Congress of the United States of America and others concerning reform of the internal revenue (tax) laws of the United States. In addition, the IRS may, in the future, issue rulings that have the effect of challenging the interpretation of existing tax laws. Certain of these proposals and interpretations, if implemented or upheld, could have the effect of diminishing the value of obligations of states and their political subdivisions, such as the Series 2022 Bonds, by eliminating or changing the tax-exempt status of interest on such bonds. Whether any such proposals will ultimately become or be upheld as law, and if so, the effect such proposals could have upon the value of bonds such as the Series 2022 Bonds cannot be predicted. However, it is possible that any such law or interpretation could have a material and adverse effect upon the availability of a liquid secondary market and/or the value of the Series 2022 Bonds. Prospective purchasers of the Series 2022 Bonds should consult their tax advisors as to the impact of any proposed or pending legislation. See also "TAX MATTERS."

State Tax Reform

It is impossible to predict what new proposals may be presented regarding tax reform and/or community development districts during upcoming legislative sessions, whether such new proposals or any previous proposals regarding the same will be adopted by the Florida Senate and House of Representatives and signed by the Governor, and, if adopted, the form thereof. On October 31, 2014, the Auditor General of the State released a 31-page report which requests legislative action to establish parameters on the amount of bonds a community development district may issue and provide additional oversight for community development district bonds. This report renews requests made by the Auditor General in 2011 that led to the Governor of the State issuing an Executive Order on January 11, 2012 (the "Executive Order") directing the Office of Policy and Budget in the Executive Office of the Governor ("OPB") to examine the role of
special districts in the State. As of the date hereof, the OPB has not made any recommendations pursuant to the Executive Order nor has the Florida legislature passed any related legislation. It is impossible to predict with certainty the impact that any existing or future legislation will or may have on the security for the Series 2022 Bonds. It should be noted that Section 190.16(14) of the Act provides in pertinent part that "The state pledges to the holders of any bonds issued under the Act that it will not limit or alter the rights of the district to levy and collect the … assessments… and to fulfill the terms of any agreement made with the holders of such bonds … and that it will not impair the rights or remedies of such holders."

Insufficient Resources or Other Factors Causing Failure to Complete the Series 2022 Project or the Construction of Homes within the Series 2022 Assessment Area

The cost to finish the Series 2022 Project will exceed the net proceeds from the Series 2022 Bonds. There can be no assurance, in the event the District does not have sufficient moneys on hand to complete the Series 2022 Project, that the District will be able to raise, through the issuance of additional bonds or otherwise, the moneys necessary to complete the Series 2022 Project. Further, the Indenture sets forth certain limitations on the issuance of additional bonds. See "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2022 BONDS – Additional Bonds" for more information.

Although the Landowners will agree to fund or cause to be funded the completion of the Series 2022 Project regardless of the insufficiency of proceeds from the Series 2022 Bonds and will enter into a completion agreement with the District as evidence thereof, there can be no assurance that the Landowners will have sufficient resources to do so. Such obligation of the Landowners is an unsecured obligation. See "THE LANDOWNERS" herein for more information.

Further, there is a possibility that, even if the Series 2022 Assessment Area is developed, the Builders may not close on all or any of the lots therein, and such failure to close could negatively impact the construction of homes in the Series 2022 Assessment Area. The Builder Contracts may also be terminated by the Builders upon the occurrence or failure to occur of certain conditions set forth therein. See "THE DEVELOPMENT – Builder Contracts" herein for more information about the Builders and the Builder Contracts. See "THE DEVELOPER" herein for more information.

COVID-19 and Related Matters

In addition to the general economic conditions discussed above, the timely and successful completion of the Development, the purchase of lots therein by the Builders and the construction and sale to end users of residential units may be adversely impacted by the continued spread of the novel strain of coronavirus called COVID-19 or by other highly contagious or epidemic or pandemic diseases. The United States, the State and the County have all previously imposed certain health and public safety restrictions in response to COVID-19 in the past. The District cannot predict whether new actions may be taken by government authorities in the future to contain or otherwise address the impact of the COVID-19 or similar outbreak.

To date, the outbreak has resulted in severe impacts on global financial markets, unemployment levels and commerce generally. The Landowners may experience delays in obtaining certain development approvals as a result of the implementation of certain government actions and/or restrictions. The District and the Landowners cannot predict the duration of the current COVID-19 outbreak, and the ultimate impact the COVID-19 outbreak may have on the Development is unknown. It is possible that delays in lot purchases by the Builders, construction delays, delays in the receipt of permits or other government approvals, supply chain delays, increased costs, delays in sales to end users or other delays could occur, or continue to occur, as applicable, as a result of the COVID-19 outbreak or other highly contagious or epidemic or pandemic diseases that adversely impact the Development. See also "BONDOWNERS' RISKS
– Economic Conditions and Changes in Development Plans" and "‒Insufficient Resources or Other Factors Causing Failure to Complete the Series 2022 Project or the Construction of Homes within the Series 2022 Assessment Area" herein.

Cybersecurity

The District relies on a technological environment to conduct its operations. The District, its agents and other third parties the District does business with or otherwise relies upon are subject to cyber threats including, but not limited to, hacking, viruses, malware and other attacks on computer and other sensitive digital networks and systems. Entities or individuals may attempt to gain unauthorized access to such parties' digital systems for the purposes of misappropriating assets or information or causing operational disruption and damage. No assurances can be given that any such attack(s) will not materially impact the operations or finances of the District, which could impact the timely payment of debt service on the Series 2022 Bonds.

Prepayment and Redemption Risk

In addition to being subject to optional and mandatory sinking fund redemptions, the Series 2022 Bonds are subject to extraordinary mandatory redemption as a result of prepayments of the Series 2022 Special Assessments by the Landowners or subsequent owners of the property within the Series 2022 Assessment Area. Any such redemptions of the Series 2022 Bonds would be at the principal amount of such Series 2022 Bonds being redeemed plus accrued interest to the date of redemption. In such event, owners of the Series 2022 Bonds may not realize their anticipated rate of return on the Series 2022 Bonds and owners of any Premium Bonds (as defined herein) may receive less than the price they paid for the Series 2022 Bonds. See "DESCRIPTION OF THE SERIES 2022 BONDS – Redemption Provisions," "– Purchase of Series 2022 Bonds" and "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2022 BONDS – Prepayment of Series 2022 Special Assessments" herein for more information.

Payment of Series 2022 Special Assessments after Bank Foreclosure

In the event a bank forecloses on property because of a default on a mortgage in favor of such bank on any of the assessable lands within the District, and then the bank itself fails, the Federal Deposit Insurance Corporation (the "FDIC"), as receiver, will then become the fee owner of such property. In such event, the FDIC will not, pursuant to its own rules and regulations, likely be liable to pay the Series 2022 Special Assessments levied on such property. In addition, the District would require the consent of the FDIC prior to commencing a foreclosure action.

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ESTIMATED SOURCES AND USES OF FUNDS

The table that follows summarizes the estimated sources and uses of proceeds of the Series 2022
Bonds:

Total
 Series 2022 Bonds 
Sources of Funds:
Principal Amount	$ 	
[Less Original Issue Discount]	 	
Total Sources	$ 	

Use of Funds:
Deposit to Phase 3 Acquisition and Construction Account	$ 	
Deposit to Phase 4 Acquisition and Construction Account	 	
Deposit to Series 2022 Reserve Account	 	
Deposit to Series 2022 Interest Account(1)	 	
Costs of Issuance(2)

Total Uses	$ 	

Includes Capitalized Interest through [May 1, 20 ].
Costs of issuance include, without limitation, underwriter's discount, legal fees and other costs associated with the issuance of the Series 2022 Bonds.

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DEBT SERVICE REQUIREMENTS

The following table sets forth the scheduled debt service on the Series 2022 Bonds:

Period Ending

Series 2022 Bonds	Total Debt

[ 	1]
Principal	Interest
Service

Totals

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THE DISTRICT

General

The District is an independent local unit of special-purpose government created in accordance with the Act. The District was established under County Ordinance No. 18-036, which was enacted by the County on June 5, 2018, as amended by Ordinance Nos. 20-028, 20-046 and 22-001, enacted by the Board of County Commissioners of Polk County, Florida on June 16, 2020, December 2, 2020 and January 4, 2022, respectively (collectively, the "Ordinance"), and approved and consented to by the City Commission of the City of Davenport, Florida (the "City") by Resolution Nos. 387-18, 456-20 and 474-21, adopted on March 19, 2018, November 16, 2020 and December 6, 2021, respectively. The District currently encompasses approximately [ ] gross acres of land located partially within unincorporated Polk County, Florida and partially within the City of Davenport, Florida. The District is located north of North Boulevard and east of Highway 17/92 North. The District Lands are being developed as a planned residential community under the name "Bella Vita" (the "Development"). See "THE DEVELOPMENT" herein for more information.

Governance

The Act provides that a five-member Board of Supervisors (the "Board") serves as the governing body of the District. Members of the Board (the "Supervisors") must be residents of the State and citizens of the United States. Initially, the Supervisors were appointed in the Ordinance. Within 90 days after formation of the District, an election was held pursuant to which new Supervisors were elected on an at- large basis by the owners of the property within the District. Ownership of land within the District entitles the owner to one vote per acre (with fractions thereof rounded upward to the nearest whole number). A Supervisor serves until expiration of his or her term and until his or her successor is chosen and qualified. If, during a term of office, a vacancy occurs, the remaining Supervisors may fill the vacancy by an appointment of an interim Supervisor for the remainder of the unexpired term.

At the initial election held within 90 days after formation of the District, the landowners in the District elected two Supervisors to four-year terms and three Supervisors to two-year terms. Thereafter, the elections take place every two years, with the first such election being held on the first Tuesday in November, and subsequent elections being held on a date in November established by the Board. Upon the later of six years after the initial appointment of Supervisors and the year when the District next attains at least 250 qualified electors, Supervisors whose terms are expiring will begin to be elected by qualified electors of the District. A qualified elector is a registered voter who is at least eighteen years of age, a resident of the District and the State and a citizen of the United States. At the election where Supervisors are first elected by qualified electors, two Supervisors must be qualified electors and be elected by qualified electors, each elected to four-year terms. The seat of the remaining Supervisor whose term is expiring at such election shall be filled by a Supervisor who is elected by the landowners for a four-year term and who is not required to be a qualified elector. Thereafter, as terms expire, all Supervisors must be qualified electors and must be elected by qualified electors to serve staggered four-year terms.

Notwithstanding the foregoing, if at any time the Board proposes to exercise its ad valorem taxing power, prior to the exercise of such power, it shall call an election at which all Supervisors shall be elected by qualified electors in the District. Elections subsequent to such decision shall be held in a manner such that the Supervisors will serve four-year terms with staggered expiration dates in the manner set forth in the Act.
The Act provides that it shall not be an impermissible conflict of interest under State law governing public officials for a Supervisor to be a stockholder, officer or employee of an owner of the land within the District.

The current members of the Board and the date of expiration of the term of each member are set forth below:

Name	Title	Term Expires	
Warren K. "Rennie" Heath II*	Chair	November 2022	
Lauren Schwenk*	Vice-Chair	November 2024	
Patrick Marone*	Assistant Secretary	November 2022	
Kevin Chinoy*	Assistant Secretary	November 2022	
Andrew Rhinehart*	Assistant Secretary	November 2024	

* Elected by landowners; affiliated with the Landowners or their affiliates.

A majority of the Supervisors constitutes a quorum for the purposes of conducting the business of the District and exercising its powers and for all other purposes. Action taken by the District shall be upon a vote of the majority of the Supervisors present unless general law or a rule of the District requires a greater number. All meetings of the Board are open to the public under the State's "sunshine" or open meetings law.

Legal Powers and Authority

The District is an independent unit of local government created pursuant to, and established in accordance with, the Act. The Act was enacted in 1980 to provide a uniform method for the establishment of independent districts to manage and finance basic community development services, including capital infrastructure required for community developments throughout the State of Florida. The Act provides legal authority for community development districts (such as the District) to finance the acquisition, construction, operation and maintenance of the major infrastructure for community development pursuant to its general law charter.

Among other provisions, the Act gives the District's Board of Supervisors the authority: (a) to finance, fund, plan, establish, acquire, construct or reconstruct, enlarge or extend, equip, operate and maintain systems, facilities, and basic infrastructure for, among other things: (i) water management and control for lands within the District and to connect any of such facilities with roads and bridges, (ii) water supply, sewer and waste-water management, reclamation and reuse systems or any combination thereof and to construct and operate connecting intercept or outlet sewers and sewer mains and pipes and water mains, conduits, or pipelines in, along, and under any street, alley, highway, or other public place or ways, and to dispose of any effluent, residue, or other byproducts of such system or sewer system, (iii) District roads equal to or exceeding the specifications of the county in which such District roads are located and street lights, landscaping, hardscaping and undergrounding of electric utility lines, (iv) conservation areas, mitigation areas, and wildlife habitat, (v) any other project, facility, or service required by a development approval, interlocal agreement, zoning condition, or permit issued by a governmental authority with jurisdiction in the District, and (vi) with the consent of the local general-purpose government within the jurisdiction of which the power is to be exercised, parks and facilities for indoor and outdoor recreational uses, and security; (b) to borrow money and issue bonds of the District; (c) to impose and foreclose special assessments liens as provided in the Act; and (d) to exercise all other powers, necessary, convenient, incidental or proper in connection with any of the powers or duties of the District stated in the Act.
Also, pursuant to the Ordinance, the District has been granted special powers pursuant to Sections 190.012(1), 190.012(2)(a) of the Act, as well as Sections 190.012(b) – (f) of the Act if said improvements and each of their specifications are first approved by the County. Such special powers include, but are not limited to, the right to (i) finance, fund, plan, establish, acquire, construct or reconstruct, enlarge or extend, equip, operate, and maintain additional systems and facilities for parks and facilities for indoor and outdoor recreational, cultural and educational uses; and (ii) construct and maintain a perimeter wall/fence for the District so long as the construction and specifications of the wall/fence are first approved by the County.

The Act does not empower the District to adopt and enforce land use plans or zoning ordinances or to grant building permits; these functions are performed by the County, as applicable, acting through their respective Commissions and departments of government.

The Act exempts all property owned by the District from levy and sale by virtue of an execution and from judgment liens, but does not limit the right of any bondholders to pursue any remedy for enforcement of any lien or pledge of the District in connection with its bonds, including the Series 2022 Bonds.

The District Manager and Other Consultants

The chief administrative official of the District is the District Manager. The Act provides that the District Manager shall have charge and supervision of the works of the District and shall be responsible for preserving and maintaining any improvement or facility constructed or erected pursuant to the provisions of the Act, for maintaining and operating the equipment owned by the District, and for performing such other duties as may be prescribed by the Board. Governmental Management Services – Central Florida, LLC, serves as District Manager. The District Manager's corporate office is located at 219 E. Livingston Street, Orlando, Florida 32801.

The Act further authorizes the Board to hire such employees and agents as it deems necessary. Thus, the District has employed the services of KE Law Group, PLLC, Tallahassee, Florida, as District Counsel; Greenberg Traurig, P.A., Miami, Florida, as Bond Counsel; and Governmental Management Services – Central Florida, LLC, Orlando, Florida, serves as Methodology Consultant for the Series 2022 Bonds.

Outstanding Indebtedness

On December 14, 2020, the District issued its Special Assessment Bonds, Series 2020 (the "Series 2020 Bonds") in the original aggregate principal amount of $12,685,000, of which $[ 	] was outstanding as of February [ ], 2022. The Series 202- Bonds are secured by the Series 2020 Special Assessments, which were levied on the lands within Phases 1 and 2 of the District, which is separate and distinct from the land within the Series 2022 Assessment Area that is subject to the Series 2022 Special Assessments securing the Series 2022 Bonds.

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THE CAPITAL IMPROVEMENT PLAN AND THE SERIES 2022 PROJECT

The Engineer's Report for Capital Improvements, Third Amended and Restated, dated [October 2021], (the "Engineer's Report"), prepared by Absolute Engineering, Inc. (the "District Engineer"). The Engineer's Report sets forth certain public infrastructure improvements to be constructed in the District as set forth below and described in more detail in the Engineer's Report (collectively, the "Capital Improvement Plan" or the "CIP").

The CIP is being implemented in phases. The District previously issued its Series 2020 Bonds to fund a portion of the CIP associated with the development of the Series 2020 Assessment Area, which consists of Phase 1 and Phase 2 of the Development (the "Series 2020 Project"). Phase 1 is currently planned for 295 single-family residential lots and Phase 2 is currently planned for 272 single-family residential lots. The Series 2020 Project is complete, [all lots have been developed and platted].

The Series 2022 Bonds are being issued in order to fund a portion of the CIP associated with the development of Phase 3 and Phase 4 of the District, including without limitation stormwater management, roadways, parks and amenities, water and sewer facilities, street lighting, an entry feature and off-site improvements (collectively, the "Series 2022 Project"). Phase 3, referred to herein as Deer Run, is currently planned for 162 single-family residential lots. Phase 4, referred to herein as Horse Creek, is currently planned for 300 townhome lots and 7 single-family residential lots (collectively, the "Series 2022 Assessment Area"). According to the District Engineer, the costs associated with the Series 2022 Project are approximately $12,525,000, as more particularly described below:

Infrastructure	Phase 3 162 lots	Phase 4 307 lots	
Total	
Off-Site Improvements	$ 819,867	$1,297,418	$2,117,285	
Stormwater Management	1,379,692	2,183,327	3,563,019	
Utilities (Water, Sewer, & Street Lighting)	1,258,392	1,991,374	3,249,766	
Roadway	603,766	955,444	1,559,210	
Entry Feature	66,803	105,713	172,516	
Parks and Amenities	280,571	443,996	724,567	
Contingency	449,909	697,728	1,147,637	
TOTAL	$4,850,000	$7,675,000	$12,525,000	

The net proceeds of the Series 2022 Bonds, consisting of approximately $7.06 million* will be used to construct a portion of the Series 2022 Project. In accordance with the terms of the Indenture, approximately $3.86 million* of net bond proceeds will be deposited to the Phase 3 Acquisition and Construction Account and $3.2 million* of net bond proceeds will be deposited to the Phase 4 Acquisition and Construction Account. See "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2022 BONDS – Acquisition and Construction Accounts" herein. The Landowners will enter into a completion agreements that will obligate the Landowners to complete each respective portion of the Series 2022 Project not funded with proceeds of the Series 2022 Bonds. See "BONDOWNERS' RISKS – Insufficient Resources

* Preliminary, subject to change.
or Other Factors Causing Failure to Complete the Series 2022 Project or the Construction of Homes within the Series 2022 Assessment Area" herein.

Land development associated with Phase 3 is expected to commence in 		and is expected to be completed by 	. As of the date hereof, approximately $ 	has been spent toward soft costs associated with Phase 3.

Land development associated with Phase 4 is expected to commence in 		and is expected to be completed by 	. As of the date hereof, approximately $ 	has been spent toward soft costs associated with Phase 4.

The District Engineer has indicated that all engineering permits necessary to construct the Series 2022 Project that are set forth in the Engineer's Report have been obtained or will be obtained in the ordinary course of business. In addition to the Engineer's Report, please refer to "THE DEVELOPMENT – Development Approvals" for a more detailed description of the entitlement and permitting status of the Development, including certain additional permits needed for development of District Lands.

Set forth below is a map depicting the boundaries of the District Lands and the Series 2022 Assessment Area, which corresponds to Phase 3 and Phase 4, therein.

[need updated map]
ASSESSMENT METHODOLOGY AND THE ALLOCATION OF ASSESSMENTS

The Master Assessment Methodology for North Power Line Road Community Development District  February  5,  2020,  as  supplemented  by  the  Supplemental  Assessment  Methodology  dated   [ 	, 2022] (collectively, the "Assessment Methodology"), which allocates the Series 2022 Special Assessments to the lands within the Series 2022 Assessment Area, has been prepared by Governmental Management Services – Central Florida, LLC, Orlando, Florida (the "Methodology Consultant"). See "EXPERTS" herein for more information. The Assessment Methodology is included herein as APPENDIX
D. Once the final terms of the Series 2022 Bonds are determined, the Assessment Methodology will be supplemented to reflect such final terms. Once levied and imposed, the Series 2022 Special Assessments are a first lien on the assessed lands within the Series 2022 Assessment Area until paid or barred by operation of law, co-equal with other taxes and assessments levied by the District and other units of government. See "ENFORCEMENT OF ASSESSMENT COLLECTIONS" herein.

The Series 2022 Bonds are payable from and secured by a pledge of the Series 2022 Pledged Revenues, which consist primarily of the revenues received by the District from the Series 2022 Special Assessments. The District will initially impose the Series 2022 Special Assessments on an equal acreage basis, across all of the assessable lands within Phase 3 and Phase 4 of the District Lands, which consist of approximately [ ] gross acres planned for 162 single-family homes in Phase 3 and approximately [  ]  gross acres planned for 300 townhome lots and 7 single-family homes in Phase 4. As the unplatted lands within the Series 2022 Assessment Area are platted, the debt will be transferred from gross acres to platted lots in accordance with the Assessment Methodology. See "APPENDIX D: ASSESSMENT METHODOLOGY" for more information.

Upon full platting of the Series 2022 Assessment Area, the Series 2022 Special Assessments levied and allocated to platted units to pay debt service on the Series 2022 Bonds and the par per unit for the Series 2022 Bonds are estimated to be as follows:

Product	Number of
Planned Units	Net Annual Series 2020
Special Assessment*	Series 2020 Bonds
Total Par Per Unit	
Townhome	300	$ 850	$14,263	
Single-Family	 	170		$1,350	$22,653	
	470			

The District expects to levy assessments to cover its operation and administrative costs which are expected to be approximately $[750] per single-family unit annually, but such amounts are subject to change. The land within the District has been and will continue to be subject to taxes and assessments imposed by taxing authorities other than the District. These taxes would be payable in addition to the Series 2022 Special Assessments and any other assessments levied by the District. In addition, exclusive of voter approved millages levied for general obligation bonds, as to which no limit applies, the County and the School Board of Polk County each levy ad valorem taxes upon the land in the District. The District has no control over the level of ad valorem taxes and/or special assessments levied by other taxing authorities. It is possible that in future years taxes levied by these other entities could be substantially higher than in the current year. See "THE DEVELOPMENT – Taxes, Fees and Assessments" for more information.

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The information appearing below under the captions "THE DEVELOPMENT" and "THE LANDOWNERS" has been furnished by the Landowners for inclusion in this Limited Offering Memorandum and, although believed to be reliable, such information has not been independently verified by Bond Counsel, the District or its counsel, or the Underwriter or its counsel, and no persons other than the Landowners make any representation or warranty as to the accuracy or completeness of such information supplied by them. The following information is provided by the Landowners as a means for the prospective bondholders to understand the anticipated development plan and risks associated with the Development. The Landowners are not guaranteeing payment of the Series 2022 Bonds or the Series 2022 Special Assessments.

THE DEVELOPMENT

Overview

The boundaries of the District include a total of approximately [ ] gross acres of land (the "District Lands") located partially within unincorporated Polk County (the "County") and partially within the City of Davenport (the "City"). The District Lands are being developed as a planned residential community under the name "Bella Vita" (the "Development"). At buildout, the Development is planned to contain 1,824 homes.

The Development is located directly east of U.S. Highway 17/92 North and approximately 2.5 miles east of U.S. Highway 27, which provide convenient access to Interstate 4 located approximately 8 miles to the north. The Development is centrally located between Tampa and Orlando. Due to its proximity to both cities, the Development serves as a "bedroom community" to those markets, offering price points substantially below that of similarly sized homes in those markets. Walt Disney World Resort and LEGOLAND Florida are located within 30 minutes from the Development. The Development is also in close proximity to the Posner Park shopping center, Heart of Florida Hospital, the Highland Reserve Golf Club and Ridgewood Lakes Golf and Country Club.

The Development is intended to continue the success of other nearby communities in the northeastern portion of the County, including Citrus Pointe, Citrus Isle, Grace Ranch, Hammock Reserve, Forest Lake, Highland Meadows, Lucerne Park, Villa Mar, Orchid Grove, Orchid Terrace and North Ridge Estates. Together, these communities have achieved annual net sales of approximately 390 homes in 2018, 749 homes in 2019, 1,209 homes in 2020 and 1,131 homes in 2021. Northeast Polk County home sales have been among the fastest growing regions of Florida. The region has benefited from its proximity to I-4 and its convenient access to Orlando, as well as its relatively affordable home prices relative to the Orlando MSA.

Set forth on the following page is a map showing the location of the Development in relation to surrounding developments in northeastern Polk County.

[Remainder of page intentionally left blank.]

Land development associated with the Development will occur in phases. The District previously issued its Series 2020 Bonds to fund a portion of the CIP associated with the development of the Series 2020 Assessment Area, which consists of Phase 1 and Phase 2 of the Development (the "Series 2020 Project"). Phase 1 is currently planned for 295 single-family residential lots and Phase 2 is currently planned for 272 single-family residential lots. The Series 2020 Project is complete, [all lots have been developed and platted].

The Series 2022 Bonds are being issued in order to fund a portion of the CIP associated with the development of Phase 3 and Phase 4 of the Development (collectively, the "Series 2022 Project"). Phase 3, referred to herein as Deer Run, is currently planned for 162 single-family residential lots. Phase 4, referred to herein as Horse Creek, is currently planned for 300 townhome lots and 7 single-family residential lots (collectively, the "Series 2022 Assessment Area"). The Series 2022 Bonds will be secured by the Series 2022 Special Assessments which will initially be levied on the acres which comprise the Series 2022 Assessment Area. As lots are platted, the Series 2022 Special Assessments will be assigned to the 469 lots planned for the Series 2022 Assessment Area on a first platted, first assigned basis as set forth in the Assessment Methodology attached hereto.

[GLK Real Estate, LLC], a Florida limited liability company (the "Phase 3 Landowner"), owns the land planned for Phase 3 of the Series 2022 Assessment Area and CH Dev, LLC, a Florida limited liability company (the "Phase 4 Landowner" and, together with the Phase 3 Landowner, the "Landowners"), owns all of the land planed for Phase 4 of the Series 2022 Assessment Area. See "THE LANDOWNERS" herein for more information.

The Landowners have entered into builder contracts for the sale of [all 469 lots] planned within the Series 2022 Assessment Area as follows: (i) 	(as defined herein) to purchase developed lots in Phase      in a single bulk purchase upon development completion of Phase     , (ii) 	(as defined herein) to purchase developed lots in Phase in a single bulk purchase upon development of Phase
    , (iii) D.R. Horton (as defined herein) to purchase 150 developed townhome lots in Phase 4 in a single bulk purchase upon development completion, and (iv) Meritage Homes (as defined herein) purchase 150 developed townhome lots in Phase 4 in a single bulk purchase upon development completion. See "– Builder Contracts" herein for more information.

Home prices in the Development are expected to range from $285,000 to $400,000. See "– Residential Product Offerings" herein.

Update on Prior Phases

The District previously issued its Series 2020 Bonds to fund a portion of the CIP associated with the development of the Series 2020 Assessment Area, which consists of Phase 1 and Phase 2 of the Development (the "Series 2020 Project"). Phase 1 is currently planned for 295 single-family residential lots and Phase 2 is currently planned for 272 single-family residential lots. The Series 2020 Project is complete, [all lots have been developed and platted]. As of the date hereof, lots have closed with homebuilders,
          homes have sold and closed with homebuyers, and an additional  homes have sold pending   closing. Homebuilders within the Series 2020 Assessment Area consists of Adams Homes, D.R. Horton, Lennar, and Hanover.

Land Acquisition

The Phase 3 Landowner acquired title to the lands within Phase 3 in Series 2022 Assessment Area in 	for a purchase price of approximately $ 	. In connection with its acquisition, the Phase 3 Landowner delivered an unsecured purchase-money promissory note in the aggregate amount of
$ 	to the sellers (the "Note"). The Note is outstanding in the principal amount of $ 	and bears interest at a fixed rate of 	% and has a maturity date of 	.

The Phase 4 Landowner acquired title to the lands within Phase 4 in Series 2022 Assessment Area in [January 21, 2022] for a purchase price of approximately $ 	. In connection with its acquisition, the Phase 4 Landowner delivered an unsecured purchase-money promissory note in the aggregate amount of $ 	to the sellers (the "Note"). The Note is outstanding in the principal amount of $ 	 and bears interest at a fixed rate of         % and has a maturity date of  		

The total cost to develop the Series 2022 Assessment Area is expected to be approximately
$ 	(the   "Series   2022   Project"),   with approximately  $ 	associated   with  the
development of the 162 lots planned for Phase 3 and approximately $ 	associated with the development of the 307 lots planned for Phase 4. See "THE CAPITAL IMPROVEMENT PLAN AND THE SERIES 2022 PROJECT" herein for more information. As of the date hereof, the Landowner has spent approximately $ 	associated with developing Phase 3 and $ 		associated with developing Phase 4. Net proceeds of the Series 2022 Bonds will fund approximately $7.06* million of costs of the Series 2022 Project, with approximately $3.86 million* of net bond proceeds being deposited to the Phase 3 – Series 2022 Acquisition and Construction Account and $3.2 million* of net bond proceeds being deposited to the Phase 4 – Series 2022 Acquisition and Construction Account. See "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2022 BONDS – Acquisition and Construction Accounts" herein. Costs not funded from proceeds of the Series 2022 Bonds will be funded by the Landowner. The Landowners will enter into a completion agreement at closing on the Series 2022 Bonds whereby the Landowners will agree to fund the completion of the Series 2022 Project. See "BONDOWNERS' RISKS – Insufficient Resources or Other Factors Causing Failure to Complete the Series 2022 Project or the Construction of Homes within the Series 2022 Assessment Area" herein.

Development Status and Plan

Land development associated with the Series 2022 Assessment Area will occur in phases as
follows.

Phase 3. Phase 3 is planned for 162 single-family residential lots. Land development associated with Phase 3 is expected commence in 	and is expected to be completed by 	, at which point lots will be delivered to the Builders in accordance with the Builder Contracts and sales and vertical construction will commence.

Phase 4. Phase 4 is planned for 300 townhome lots and 7 single-family residential lots. Land development associated with Phase 4 is expected commence in 	and is expected to be completed by 	, at which point lots will be delivered to the Builders in accordance with the Builder Contracts and sales and vertical construction will commence.

The Landowners anticipate that home deliveries will commence in 	. Based on sales at nearby communities, the Landowners expect that homes will be closed with residential end users at the rate of approximately homes per year until buildout. These anticipated absorption rates are based upon estimates and assumptions made by the Landowners that are inherently uncertain, though considered reasonable by the Landowners, and are subject to significant business, economic, and competitive uncertainties and contingencies, all of which are difficult to predict and many of which are beyond the

* Preliminary, subject to change.
control of the Landowners. As a result, there can be no assurance such absorption rates will occur or be realized in the timeframes anticipated.

Builder Contracts

The Landowners have entered into builder contracts for the sale of [all 469 lots] planned within the Series 2022 Assessment Area as follows: (i) 	(as defined herein) to purchase developed lots in Phase      in a single bulk purchase upon development completion of Phase     , (ii) 	(as defined herein) to purchase developed lots in Phase in a single bulk purchase upon development of Phase
    , (iii) D.R. Horton (as defined herein) to purchase 150 developed townhome lots in Phase 4 in a single bulk purchase upon development completion, and (iv) Meritage Homes (as defined herein) purchase 150 developed townhome lots in Phase 4 in a single bulk purchase upon development completion. The total revenue expected to be received from the Builder Contracts is approximately $ 	.

The Builder Contracts are summarized in the chart below. For more detailed information regarding each Builder Contract, see the discussion below.

Builder	# of Lots	Lot Type	Deposit	Price	Closing

Phase 3:

 	-foot;	$ 	
 	-foot

 	-foot;	$ 	
 	-foot

 	-foot;	$ 	
 	-foot

Aggregate price of
$ 	($ 	/ lot)

Aggregate price of
$ 	($ 	/ lot)

Aggregate price of
$ 	($ 	/ lot)
Single closing on 	lots following satisfaction of closing conditions

Single closing on 	lots following satisfaction of closing conditions

Single closing on 	lots following satisfaction of closing conditions

Phase 4:

D.R. Horton	150	Townhome	$[750,000]
Aggregate base price of
$3,000,000 ($20,000 / lot),
plus additional consideration est. at $ 	/ lot upon sale to third parties

Single closing on 150 lots following satisfaction of closing conditions

Meritage	150	Townhome	$[750,000] Homes
Aggregate base price of
$3,000,000 ($20,000 / lot),
plus additional consideration est. at $ 	/ lot upon sale to third parties

Single closing on 150 lots following satisfaction of closing conditions

Phase 4 - D.R. Horton

The Phase 4 Landowner has entered into a Lot Purchase Agreement dated as of January 24, 2022 (the "D.R. Horton Contract") with D.R. Horton, Inc. a Delaware corporation ("D.R. Horton"). The D.R. Horton Contract provides for the bulk sale of the one hundred fifty (150) developed residential lots planned
within Phase 4 of the Series 2022 Assessment Area. The D.R. Horton Contract provides for the base purchase price of $20,000 per lot, subject to adjustment as provided on the D.R. Horton Contract. The Phase
4  Landowner  estimates  additional  consideration  to  be  $[ 	]  per  lot,  for  total  consideration  of
$[ 	]. Pursuant to the D.R. Horton Contract, the closing shall occur no more than ten (10) business days after the later of (i) D.R. Horton delivers notice accepting that the development obligations contained in the D.R. Horton Contract are complete, (ii) the substantial completion date, as set forth in the D.R. Horton Contract or (iii) the date on which all of the conditions to closing have been either satisfied or waived by
D.R. Horton.  The Phase 4 Landowner anticipates the closing will occur in the [ 	] quarter of 20[ ].

Pursuant to the D.R. Horton Contract, D.R. Horton has made an initial deposit of $25,000 and is expected to make an additional deposit of $725,000 after D.R. Horton issues its Notice of Suitability, which the Phase 4 Landowner expects to occur on [ 	], 2022. The total deposit will be secured by a mortgage and will be released to the Phase 4 Landowner upon commencement of the development. There is a risk that D.R. Horton may not close on any lots pursuant to the D.R. Horton Contract or may fail to construct homes on such lots. See "BONDOWNERS' RISKS – Insufficient Resources or Other Factors Causing Failure to Complete the Series 2022 Project or the Construction of Homes in the Series 2022 Assessment Area" herein.

D.R. Horton is a Delaware corporation whose stock trades on the New York Stock Exchange under the symbol DHI. D.R. Horton is subject to the informational requirements of the Exchange Act and in accordance therewith files reports, proxy statements, and other information with the SEC. The SEC file number for D.R. Horton is No-1-14122. Such reports, proxy statements, and other information can be inspected and copied at the Public Reference Section of the SEC, Room 100 F Street, N.E., Washington
D.C. 20549 and at the SEC's internet website at http://www.sec.gov. Copies of such materials can be obtained by mail from the Public Reference Section of the SEC at prescribed rates. All documents subsequently filed by D.R. Horton pursuant to the requirements of the Exchange Act after the date of this Limited Offering Memorandum will be available for inspection in the same manner as described above.

Phase 4 - Meritage Homes

The Phase 4 Landowner has entered into a Purchase and Sale Agreement and Joint Instructions dated January 19, 2022 (the "Meritage Homes Contract") with Meritage Homes of Florida, Inc., a Florida corporation ("Meritage Homes"). The Meritage Homes Contract provides for the bulk sale of one hundred fifty (150) developed residential lots planned within Phase 4 of the Series 2022 Assessment Area. The Meritage Homes Contract provides for the base purchase price of $20,000 per lot, subject to adjustment as provided on the Meritage Homes Contract. The Phase 4 Landowner estimates additional consideration to be $[ 	] per lot, for total consideration of $[ 	]. Pursuant to the Meritage Homes Contract, the Closing shall occur on the date that is fifteen (15) days following the date that each of the lots is substantially complete and Meritage Homes receives notice from the seller of the same, as further described in the Meritage Homes Contract.  The Phase 4 Landowner anticipates the closing will occur in the [   ] quarter of 20[ ].

Pursuant to the Meritage Homes Contract, Meritage Homes has made an initial deposit of $50,000, and is expected to make an additional deposit of $700,000 after Meritage Homes issues its Notice of Suitability, which the Phase 4 Landowner expects to occur on [ 	], 2022. The deposit is expected to be released to the Phase 4 Landowner and will secured by a mortgage in favor of Meritage Homes. There is a risk that Meritage Homes may not close on any lots pursuant to the Meritage Homes Contract or may fail to construct homes on such lots. See "BONDOWNERS' RISKS – Economic Conditions and Changes in Development Plans," "– Insufficient Resources or Other Factors Causing Failure to Complete the Assessment Area One Project or the Construction of Homes in Assessment Area One" herein.
Meritage is a Florida corporation established in 1965, with corporate offices in Scottsdale, Arizona, which operates as a subsidiary of Meritage Homes Corporation ("Meritage Homes"). Meritage Homes' stock trades on the New York Stock Exchange under the symbol MTH. Meritage Homes is subject to the informational requirements of the Exchange Act, and in accordance therewith is obligated to file reports, proxy statements, and other information, including financial statements, with the Securities and Exchange Commission (the "SEC"). The SEC file number for Meritage is 0001187511. Such reports, proxy statements, and other information can be inspected and copied at the Public Reference Section of the SEC, Room 100 F Street, N.E., Washington D.C. 20549 and at the SEC's internet website at http://www.sec.gov. Copies of such materials can be obtained by mail from the Public Reference Section of the SEC at prescribed rates. All documents subsequently filed by Meritage Homes pursuant to the requirements of the Exchange Act after the date of this Limited Offering Memorandum will be available for inspection in the same manner as described above.

[Remaining contracts to come]

Neither the Builders nor any of the other entities listed above are guaranteeing payment of the Series 2022 Bonds or the Series 2022 Special Assessments. None of the entities listed herein, other than the Landowners, has entered into any agreements in connection with the issuance of the Series 2022 Bonds.

Residential Product Offerings

The following table reflects the Landowners' current expectations for the homes planned for the Development, all of which are subject to change:

Product Type
Approx.
Square Footage	Bed/Bath
Approximate Home Prices

Phase 3	1,500 – 2,450	3/2 ‒5/3	$285,000 – $350,000 Phase 4	1,500 – 2,450	3/2 ‒5/3	$330,000 – $400,000
Public Schools

School age residents of the Development will attend Loughman Oaks Elementary School, Shelly Boone Middle School and Ridge Community Senior High School, which are located approximately 4 miles, 6 miles and 3.5 miles away from the Development, respectively, and which each received a grade of C from the State in 2019 (the most recent year for which grades are available). The Polk County School Board may change school boundaries from time to time, and there is no requirement that students residing in the Development be permitted to attend the schools which are closest to the Development.

Development Approvals

The District Lands are zoned Planned Development (PD) which allows for development of the 1,868 units planned for the District Lands. [The Landowners have received construction plan approval from the City and the County for Phase 3 and Phase 4. In addition, the Landowners have also received individual construction environmental resource permits from the Southwest Florida Water Management District for Phase 3 and Phase 4]. All other permits and approvals by jurisdictional agencies to allow for the development contemplated herein have been received or are expected to be received in the ordinary course.
Environmental

[Phase I Environmental Site Assessments were performed on the lands within Phase 3 and Phase 4 of the District from [     , 20     to     20,    ] (the "ESAs"). The ESAs indicate that the [lands in the   District were previously used as a wastewater spray field and recommended further groundwater and soil testing, which is expected to occur during site development, along with the removal of all trash and debris located on the subject lands. The ESAs further noted that investigations in surrounding areas of the District indicated the presence of ethylene dibromide ("EDB") in the groundwater and recommended that public water supply be used for drinking water. Potable water for the Series 2022 Assessment Area will be provided by the City, and the homeowners' association document will prohibit the installation of on-site wells.] See "BONDOWNERS' RISK – Regulatory and Environmental Risks" herein for more information regarding potential environmental risks.

Utilities

Electric utilities will be provided to the Development by Duke Energy. Potable water and sanitary sewer service to the Development will be provided by the City of Davenport Public Utilities. Reclaimed water is not available for the Development. See "APPENDIX A: ENGINEER'S REPORT" attached hereto for more information regarding the ownership and maintenance of utilities within the Development.

Taxes, Fees and Assessments

The Series 2022 Bonds are payable from and secured by a pledge of the Series 2022 Pledged Revenues, which consist primarily of the revenues received by the District from the Series 2022 Special Assessments. The District will initially impose the Series 2022 Special Assessments on an equal acreage basis, across all of the approximately     gross acres which comprise the Series 2022 Assessment Area.   As the unplatted lands within the Series 2022 Assessment Area are platted, the debt will be transferred from gross acres to platted lots in accordance with the Assessment Methodology. See "ASSESSMENT METHODOLOGY AND THE ALLOCATION OF ASSESSMENTS" herein and "APPENDIX D:
ASSESSMENT METHODOLOGY" hereto for more information.

[Remainder of page intentionally left blank.]
Upon full platting of the Series 2022 Assessment Area, the Series 2022 Special Assessments levied and allocated to platted units to pay debt service on the Series 2022 Bonds and the par per unit for the Series 2022 Bonds are expected to be as follows:

Product	Number of
Planned Units	Net Annual Series 2020
Special Assessment*	Series 2020 Bonds
Total Par Per Unit	
Townhome	300	$ 850	$14,263	
Single-Family	 	169		$1,350	$22,653	
	469			

*	Annual assessment levels will include a gross up to account for County collection costs and statutory early payment discounts.

The District expects to levy assessments to cover its operation and administrative costs which are currently expected to be approximately [$750] per single-family unit annually, but such amounts are subject to change. In addition, residents will be required to pay homeowners' association fees which are currently estimated to be [$150] per residential lot annually, which amounts are subject to change. The land within the District has been and will continue to be subject to taxes and assessments imposed by taxing authorities other than the District. The total millage rate applicable to lands within the Series 2022 Assessment Area in 2022 ranged from 	mills (for land in the unincorporated  County) and 	(for land in the incorporated City). These taxes would be payable in addition to the Series 2022 Special Assessments and any other assessments levied by the District. In addition, exclusive of voter approved millages levied for general obligation bonds, as to which no limit applies, the County and the School Board of Polk County each levy ad valorem taxes upon the land in the District. The District has no control over the level of ad valorem taxes and/or special assessments levied by other taxing authorities. It is possible that in future years taxes levied by these other entities could be substantially higher than in 2022.

Amenities

The Development will include an amenity center consisting of a pavilion with a restroom facility, pool, tot lot, dog park, all-purpose play field, parking area and walking trails connecting the different phases of the Development to the Amenity Center (collectively, the "Amenity Center"). The total cost of the Amenity Center for the Development is estimated to be approximately $882,000, which is included in the cost of the Series 2020 Project. Construction of the Amenity Center commenced in the [fourth quarter of 2021 and is expected to be completed by the fourth quarter of 2022]. Upon completion, the Amenity will be owned and operated by the District and will be available for use by the general public.

Competition

The Development is expected to compete with projects in the northeastern Polk County market generally, which include Citrus Landing, Citrus Pointe, Citrus Reserve, Cypress Park Estates, Forest Lake, Hammock Reserve, Highland Meadows, Orchid Grove, Orchid Terrace and North Ridge Estates. The foregoing does not purport to summarize all of the existing or planned communities in the area of the Development.

Landowners' Agreements

The Landowners will enter into a completion agreement that will obligate the Landowners to complete each respective portion of the Series 2022 Project not funded with proceeds of the Series 2022 Bonds. See "BONDOWNERS' RISKS – Insufficient Resources or Other Factors Causing Failure to Complete the Series 2022 Project or the Construction of Homes within the Series 2022 Assessment Area."
In addition, the Landowners will execute and deliver to the District Collateral Assignments and Assumption of Development Rights, pursuant to which the Landowners will collaterally assign to the District, to the extent assignable and to the extent that they are solely owned or controlled by the Landowners, development rights relating the Series 2022 Project and the development of the Series 2022 Assessment Area. Notwithstanding such Agreement, in the event the District forecloses on the lands subject to the Series 2022 Special Assessments as a result of a Landowners' or subsequent landowner's failure to pay such assessments, there is a risk that the District will not have all permits and entitlements necessary to complete the Series 2022 Project.

The Landowners will also enter into True-Up Agreements in connection with its obligation to pay true-up payments in the event that debt levels remaining on unplatted or re-platted lands in the District increase above the maximum debt levels set forth in the Assessment Methodology. See "APPENDIX D: ASSESSMENT METHODOLOGY" herein for additional information regarding the "true-up mechanism."

Such obligations of the Landowners are unsecured obligations. See "THE LANDOWNER" herein for more information regarding the Landowner.

THE LANDOWNERS

Phase 3 Landowner

GLK Real Estate, LLC, a Florida limited liability company (the "Phase 3 Landowner"), owns all of the developable land in Phase 3 of the Series 2022 Assessment Area. The Phase 3 Landowner was organized on June 26, 2020. The Phase 3 Landowner's managers and members with equal ownership are Lauren Schwenk, Gary Price and Kevin Chinoy.

Biographies of the principals of the Phase 3 are set forth below:

Lauren Schwenk. Lauren Schwenk has over twenty years of real estate and development experience. In 2001, she began her career in residential home resales in the Orlando area before joining Highland Cassidy in 2004, where she was a project manager for their land development and entitlement group. In 2016, she transitioned to VP of Operations for The Cassidy Organization and affiliates. She is an owner of Prime Community Management, a homeowners' association management firm that manages over 6,000 residential units, as well as Oakley Rhinehart Cassidy, LLC, an investment real estate company that owns and manages over 60 rentals, both in the Central Florida area.

Kevin Chinoy. Kevin Chinoy has thirty years of broad-based expertise and experience in business, with a specific focus on the design and management of organizations, programs, and projects. Kevin's career has had three distinct but intertwined paths: organization development and change management (OD/CM) consulting; branded/entertainment content creation; and not-for-profit work. He has successfully launched his own entrepreneurial ventures, provided consultation for others in the development of their own organizations, and led teams of more than one hundred employees to success in these areas. Kevin graduated Phi Beta Kappa from the University of North Carolina ‒ Chapel Hill, earned his MBA with honors from The Wharton School at University of Pennsylvania, and served as faculty member at the Parsons School of Design.

Gary Price. Gary Price has over forty-five years of experience as a Certified Professional Accountant and an owner of his own CPA practice, Beckert, Price and Rowse, PA, in Winter Haven, Florida, for over forty years. He also has experience as a Controller and Treasurer of a publicly held citrus company in Central Florida for over eight years. Currently, in addition to being an active partner of GLK
Real Estate, he is an owner of Winter Haven Management Services, LLC, which provides management and accounting services to various family businesses and investments.

Phase 4 Landowner

CH Dev, LLC, a Florida limited liability company (the "Phase 4 Landowner" and, together with the Phase 3 Landowner, the "Landowners"), owns all off the developable land in Phase 4 of the Series 2022 Assessment Area. The Phase 4 Landowner was organized on October 21, 2020. The Phase 4 Landowner's sole member is Cassidy Holdings Group, Inc., and its managing member is Albert B. Cassidy.

A biography of the principal of the Phase 4 Landowner is set forth below:

Albert B. Cassidy. Albert B. Cassidy, President of Cassidy Holdings Group, Inc., and Managing Member of Cassidy Holdings, LLC and CH Dev, LLC, has been actively involved in real estate development for over 40 years throughout Central Florida, developing tens of thousands of residential lots. Mr. Cassidy's experience includes single-family and multifamily housing development, as well as condominium development. These developments have been sold to the widely known national and regional home builders, as well as local builders. In addition, he supplied lots to his homebuilding operation, Cassidy Homes, which served as a homebuilder in Polk County, Florida for 29 years. He has also built brand name hotels, two of which he currently owns and manages. Mr. Cassidy holds a Florida Real Estate Broker's license

Development Manager

The Landowners are entering into a management agreement with Heath Construction and Management, LLC, a Florida limited liability company ("Heath Construction"), to oversee development of the Series 2022 Assessment Area. Heath Construction was formed on November 2, 2006, and is engaged in the business of providing commercial and residential land acquisition and development planning, budgeting, due diligence services, construction management and government liaison services. Warren K. Heath is the managing member of Heath Construction, which he started after spending five years as the Director of Development for Highland Sumner and Cassidy Homes. Mr. Heath has overseen the development for over 65 properties consisting of over 5,000 acres across Central Florida.

The chart below contains a list of the communities developed by the Development Manager and its affiliates:

Project Name	CDD Name	Year Started	# of Lots

Ayersworth Glen	Highlands	2014	158	
Highland Meadows 2A & 2B	Highland Meadows II	2014	310	
Ballantrae	Ballantrae	2014	197	
Chatham Walk	Wynnmere West	2014	137	
Ballantrae	Ballantrae	2015	200	
Chatham Walk	Wynnmere West	2015	186	
Ayersworth Glen 2B	Highlands	2016	227	
Highland Meadows 3 & 4A	Highland Meadows II	2016	333	
Hawks Landing	Wynnmere East	2016	316	
Highland Meadows 5 & 6	Highland Meadows II	2017	409	
North Ridge Estates	North Blvd	2017	216	
Project Name	CDD Name	Year Started	# of Lots	
Highland Meadows 4B&C	Highland Meadows II	2017	199	
Citrus Isle	Holly Hill Road East	2017	204	
Orchid Grove	Davenport Road South	2018	369	
Towne Park	Towne Park	2018	563	
Citrus Pointe	Holly Hill Road East	2018	100	
North Ridge Reserve	North Blvd	2019	173	
Orchid Terrace 1 & 2	Highland Meadows West	2019	266	
Lucerne Park	Lucerne Park	2019	346	
VillaMar 1 & 2	Villamar	2019	334	
Riverstone 1	Towne Park	2019	277	
Riverstone 2	Towne Park	2019	186	
Highland Meadows 7	Highland Meadows II	2019	210	
Southern Crossing	N/A	2019	93	
Grace Ranch	N/A	2019	100	
Highland Place	N/A	2019	42	
Pleasant Hill	N/A	2019	52	
Orchid Terrace 3 & 4	Highland Meadows West	2020	176	
Citrus Landing	Holly Hill Road East	2020	182	
Citrus Reserve	Holly Hill Road East	2020	191	
Hammock Reserve 1	Hammock Reserve	2020	231	
Forest Lake	Forest Lake	2020	388	
Eden Hills 1	Eden Hills	2020	142	
VillaMar 2	VillaMar	2020	281	
Bella Vita	North Powerline Road	2020	567	
Magnolia Park	Scenic Highway	2020	361	
Hammock Reserve 2	Hammock Reserv	2021	206	
Eden Hills 2	Eden Hills	2022	 	469		
	Total		9,398	

Neither the Landowners nor any of the other entities listed above are guaranteeing payment of the Series 2022 Bonds or the Series 2022 Special Assessments. None of the entities listed herein, other than the Landowners, has entered into any agreements in connection with the issuance of the Series 2022 Bonds.

TAX MATTERS

General

The Internal Revenue Code of 1986, as amended (the "Code"), includes requirements that the District must continue to meet after the issuance of the Series 2022 Bonds in order that the interest on the Series 2022 Bonds be and remain excludable from gross income for federal income tax purposes. The District's failure to meet these requirements may cause the interest on the Series 2022 Bonds to be included in gross income for federal income tax purposes retroactively to the date of issuance of the Series 2022 Bonds. The District has covenanted in the Bond Resolution to take the actions required by the Code in order to maintain the exclusion from gross income for federal income tax purposes of interest on the Series 2022 Bonds.
In the opinion of Greenberg Traurig, P.A., Bond Counsel, assuming the accuracy of certain representations and certifications of the Developer and the District and continuing compliance by the District with the tax covenants referred to above, under existing statutes, regulations, rulings, and court decisions, the interest on the Series 2022 Bonds is excludable from gross income of the holders thereof for federal income tax purposes; and, further, interest on the Series 2022 Bonds is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals. Bond Counsel is further of the opinion that the Series 2022 Bonds and the income thereon are not subject to taxation under the laws of the State, except as to estate taxes and taxes under Chapter 220, Florida Statutes, on interest, income, or profits on debt obligations owned by corporations as defined in said Chapter 220. Bond Counsel will express no opinion as to any other tax consequences regarding the Series 2022 Bonds. Prospective purchasers of the Series 2022 Bonds should consult their own tax advisors as to the status of interest on the Series 2022 Bonds under the tax laws of any state other than the State.

The above opinion on federal tax matters with respect to the Series 2022 Bonds will be based on and will assume the accuracy of certain representations and certifications of the District and the Landowners, and compliance with certain covenants of the District to be contained in the transcript of proceedings and that are intended to evidence and assure the foregoing, including that the Series 2022 Bonds will be and will remain obligations the interest on which is excludable from gross income for federal income tax purposes. Bond Counsel will not independently verify the accuracy of those certifications and representations. Bond Counsel will express no opinion as to any other consequences regarding the Series 2022 Bonds.

Except as described above, Bond Counsel will express no opinion regarding the federal income tax consequences resulting from the receipt or accrual of the interest on the Series 2022 Bonds, or the ownership or disposition of the Series 2022 Bonds. Prospective purchasers of Series 2022 Bonds should be aware that the ownership of Series 2022 Bonds may result in other collateral federal tax consequences, including (i) the denial of a deduction for interest on indebtedness incurred or continued to purchase or carry the Series 2022 Bonds, (ii) the reduction of the loss reserve deduction for property and casualty insurance companies by the applicable statutory percentage of certain items, including the interest on the Series 2022 Bonds, (iii) the inclusion of the interest on the Series 2022 Bonds in the earnings of certain foreign corporations doing business in the United States for purposes of a branch profits tax, (iv) the inclusion of the interest on the Series 2022 Bonds in the passive income subject to federal income taxation of certain Subchapter S corporations with Subchapter C earnings and profits at the close of the taxable year, (v) the inclusion of interest on the Series 2022 Bonds in the determination of the taxability of certain Social Security and Railroad Retirement benefits to certain recipients of such benefits, (vi) net gain realized upon the sale or other disposition of property such as the Series 2022 Bonds generally must be taken into account when computing the Medicare tax with respect to net investment income or undistributed net investment income, as applicable, imposed on certain high income individuals and specified trusts and estates and (vii) receipt of certain investment income, including interest on the Series 2022 Bonds, is considered when determining qualification limits for obtaining the earned income credit provided by Section 32(a) of the Code. The nature and extent of the other tax consequences described above will depend on the particular tax status and situation of each owner of the Series 2022 Bonds. Prospective purchasers of the Series 2022 Bonds should consult their own tax advisors as to the impact of these and any other tax consequences.

Bond Counsel's opinion is based on existing law, which is subject to change. Such opinion is further based on factual representations made to Bond Counsel as of the date of issuance of the Series 2022 Bonds. Bond Counsel assumes no duty to update or supplement its opinion to reflect any facts or circumstances that may thereafter come to Bond Counsel's attention, or to reflect any changes in law that may thereafter occur or become effective. Moreover, Bond Counsel's opinion is not a guarantee of a particular result, and is not binding on the IRS or the courts; rather, such opinion represents Bond Counsel's professional
judgment based on its review of existing law, and in reliance on the representations and covenants that it deems relevant to such opinion.

Original Issue Discount and Premium

Certain of the Series 2022 Bonds ("Discount Bonds") may be offered and sold to the public at an original issue discount ("OID"). OID is the excess of the stated redemption price at maturity (the principal amount) over the "issue price" of a Discount Bond determined under Code Section 1273 or 1274 (i.e., for obligations issued for money in a public offering, the initial offering price to the public (other than to bond houses and brokers) at which a substantial amount of the obligation of the same maturity is sold pursuant to that offering). For federal income tax purposes, OID accrues to the owner of a Discount Bond over the period to maturity based on the constant yield method, compounded semiannually (or over a shorter permitted compounding interval selected by the owner). The portion of OID that accrues during the period of ownership of a Discount Bond (i) is interest excludable from the owner's gross income for federal income tax purposes to the same extent, and subject to the same considerations discussed above, as other interest on the Series 2022 Bonds, and (ii) is added to the owner's tax basis for purposes of determining gain or loss on the maturity, redemption, prior sale, or other disposition of that Discount Bond.

Certain of the Series 2022 Bonds ("Premium Bonds") may be offered and sold to the public at a price in excess of their stated redemption price (the principal amount) at maturity (or earlier for certain Premium Bonds callable prior to maturity). That excess constitutes bond premium. For federal income tax purposes, bond premium is amortized over the period to maturity of a Premium Bond, based on the yield to maturity of that Premium Bond (or, in the case of a Premium Bond callable prior to its stated maturity, the amortization period and yield may be required to be determined on the basis of an earlier call date that results in the lowest yield on that Premium Bond), compounded semiannually (or over a shorter permitted compounding interval selected by the owner). No portion of that bond premium is deductible by the owner of a Premium Bond. For purposes of determining the owner's gain or loss on the sale, redemption (including redemption at maturity), or other disposition of a Premium Bond, the owner's tax basis in the Premium Bond is reduced by the amount of bond premium that accrues during the period of ownership. As a result, an owner may realize taxable gain for federal income tax purposes from the sale or other disposition of a Premium Bond for an amount equal to or less than the amount paid by the owner for that Premium Bond.

Owners of Discount and Premium Bonds should consult their own tax advisers as to the determination for federal income tax purposes of the amount of OID or bond premium properly accruable in any period with respect to the Discount or Premium Bonds and as to other federal tax consequences, and the treatment of OID and bond premium for purposes of state and local taxes on, or based on, income.

Changes in Federal and State Tax Law

From time to time, there are legislative proposals suggested, debated, introduced, or pending in Congress or in the State legislature that, if enacted into law, could alter or amend one or more of the federal tax matters, or state tax matters, respectively, described above including, without limitation, the excludability from gross income of interest on the Series 2022 Bonds, or adversely affect the market price or marketability of the Series 2022 Bonds, or otherwise prevent the holders from realizing the full current benefit of the status of the interest thereon. It cannot be predicted whether or in what form any such proposal may be enacted, or whether, if enacted, any such proposal would affect the Series 2022 Bonds. Prospective purchasers of the Series 2022 Bonds should consult their tax advisors as to the impact of any proposed or pending legislation.
Information Reporting and Backup Withholding

Interest paid on tax-exempt bonds such as the Series 2022 Bonds is subject to information reporting to the Internal Revenue Service in a manner similar to interest paid on taxable obligations. This reporting requirement does not affect the excludability of interest on the Series 2022 Bonds from gross income for federal income tax purposes. However, in conjunction with that information reporting requirement, the Code subjects certain non-corporate owners of Series 2022 Bonds, under certain circumstances, to "backup withholding" at the rates set forth in the Code, with respect to payments on the Series 2022 Bonds and proceeds from the sale of Series 2022 Bonds. Any amount so withheld would be refunded or allowed as a credit against the federal income tax of such owner of Series 2022 Bonds. This withholding generally applies if the owner of Series 2022 Bonds (i) fails to furnish the payor such owner's social security number or other taxpayer identification number ("TIN"), (ii) furnished the payor an incorrect TIN, (iii) fails to properly report interest, dividends, or other "reportable payments" as defined in the Code, or (iv) under certain circumstances, fails to provide the payor or such owner's securities broker with a certified statement, signed under penalty of perjury, that the TIN provided is correct and that such owner is not subject to backup withholding. Prospective purchasers of the Series 2022 Bonds may also wish to consult with their tax advisors with respect to the need to furnish certain taxpayer information in order to avoid backup withholding.

AGREEMENT BY THE STATE

Under the Act, the State pledges to the holders of any bonds issued thereunder, including the Series 2022 Bonds, that it will not limit or alter the rights of the issuer of such bonds, including the District, to own, acquire, construct, reconstruct, improve, maintain, operate or furnish the projects, including the Series 2022 Project funded by the Series 2022 Bonds, or to levy and collect taxes, assessments, rentals, rates, fees and other charges provided for in the Act and to fulfill the terms of any agreement made with the holders of such bonds and that it will not in any way impair the rights or remedies of such holders.

LEGALITY FOR INVESTMENT

The Act provides that bonds issued by community development districts are legal investments for savings banks, banks, trust companies, insurance companies, executors, administrators, trustees, guardians, and other fiduciaries, and for any board, body, agency, instrumentality, county, municipality or other political subdivision of the State, and constitute securities that may be deposited by banks or trust companies as security for deposits of state, county, municipal or other public funds, or by insurance companies as required or voluntary statutory deposits.

SUITABILITY FOR INVESTMENT

In accordance with applicable provisions of Florida law, the Series 2022 Bonds may initially be sold by the District only to "accredited investors" within the meaning of Chapter 517, Florida Statutes, and the rules of the Florida Department of Financial Services promulgated thereunder. The limitation of the initial offering to accredited investors does not denote restrictions on transfer in any secondary market for the Series 2022 Bonds. Investment in the Series 2022 Bonds poses certain economic risks. No dealer, broker, salesman or other person has been authorized by the District or the Underwriter to give any information or make any representations, other than those contained in this Limited Offering Memorandum, and, if given or made, such other information or representations must not be relied upon as having been authorized by either of the foregoing.
ENFORCEABILITY OF REMEDIES

The remedies available to the owners of the Series 2022 Bonds upon an event of default under the Indenture are in many respects dependent upon judicial actions, which are often subject to discretion and delay. Under existing constitutional and statutory law and judicial decisions, including the federal bankruptcy code, the remedies specified by the Indenture and the Series 2022 Bonds may not be readily available or may be limited. The various legal opinions to be delivered concurrently with the delivery of the Series 2022 Bonds will be qualified, as to the enforceability of the remedies provided in the various legal instruments, by limitations imposed by bankruptcy, reorganization, insolvency or other similar laws affecting the rights of creditors and enacted before or after such delivery.

FINANCIAL STATEMENTS

This District will covenant in a Continuing Disclosure Agreement, the proposed form of which is set forth in APPENDIX E hereto, to provide its annual audited financial statements to certain information repositories as described in APPENDIX E, commencing with the audit for the District fiscal year ended September 30, 2021. Attached hereto as APPENDIX F is a copy of the District's audited financial statements for the District's fiscal year ended September 30, 2020, as well as the District's unaudited monthly financial statements for the period ended [ 	, 2022]. The District does not have audited financial statements because the District has only recently been established. As of the date hereof, the District does not have any significant assets or liabilities and the District has not previously issued any debt obligations. The Series 2022 Bonds are not general obligation bonds of the District and are payable solely from the Series 2022 Pledged Revenues.

Beginning October 1, 2015, or by the end of the first full fiscal year after its creation, each community development district in Florida must have a separate website with certain information as set forth in Section 189.069, F.S., including, without limitation, the district's proposed and final budgets and audit. Additional information regarding the District's website is available from the District Manager at the address set forth under "THE DISTRICT – The District Manager and Other Consultants."

LITIGATION

The District

There is no litigation of any nature now pending or, to the knowledge of the District threatened, seeking to restrain or enjoin the issuance, sale, execution or delivery of the Series 2022 Bonds, or in any way contesting or affecting (i) the validity of the Series 2022 Bonds or any proceedings of the District taken with respect to the issuance or sale thereof, (ii) the pledge or application of any moneys or security provided for the payment of the Series 2022 Bonds, (iii) the existence or powers of the District or (iv) the validity of the Assessment Proceedings.

The Landowners

The Landowners have represented in connection with the Series 2022 Bond issuance that there is no litigation of any nature now pending or, to the knowledge of the Landowners, threatened, which could reasonably be expected to have a material and adverse effect upon the ability of the Landowners to complete the development of the District Lands, as described herein, materially and adversely affect the ability of the Landowners to pay the Series 2022 Special Assessments imposed against the District Lands or materially and adversely affect the ability of the Landowners to perform their various obligations described in this Limited Offering Memorandum.
NO RATING

No application for a rating of the Series 2022 Bonds has been made to any rating agency, nor is there any reason to believe that the District would have been successful in obtaining an investment grade rating for the Series 2022 Bonds had application been made.

DISCLOSURE REQUIRED BY FLORIDA BLUE SKY REGULATIONS

Section 517.051, Florida Statutes, and the regulations promulgated thereunder requires that the District make a full and fair disclosure of any bonds or other debt obligations that it has issued or guaranteed and that are or have been in default as to principal or interest at any time after December 31, 1975 (including bonds or other debt obligations for which it has served only as a conduit issuer such as industrial development or private activity bonds issued on behalf of private business). The District is not and has never been in default on any bonds or other debt obligations since December 31, 1975.

CONTINUING DISCLOSURE

The District and the Landowners will enter into the Continuing Disclosure Agreement (the "Disclosure Agreement") in the proposed form of APPENDIX E, for the benefit of the Series 2022 Bondholders (including owners of beneficial interests in such Series 2022 Bonds), to provide certain financial information and operating data relating to the District and the Development by certain dates prescribed in the Disclosure Agreement (the "Reports") with the MSRB through the MSRB's EMMA system. The specific nature of the information to be contained in the Reports is set forth in "APPENDIX E: PROPOSED FORM OF CONTINUING DISCLOSURE AGREEMENT." Under certain circumstances, the failure of the District or the Landowners to comply with their respective obligations under the Disclosure Agreement constitutes an event of default thereunder. Such a default will not constitute an event of default under the Indenture, but such event of default under the Disclosure Agreement would allow the Series 2022 Bondholders (including owners of beneficial interests in such Series 2022 Bonds) to bring an action for specific performance.

The District has previously entered into a continuing disclosure undertaking pursuant to Rule 15c2- 12, promulgated under the Securities Exchange Act of 1934, as amended (the "Rule"), with respect to its Series 2020 Bonds. [Review to come.] The District anticipates satisfying all future disclosure obligations required pursuant to its Disclosure Agreement and the Rule. The District will appoint Governmental Management Services – Central Florida, LLC, as the dissemination agent in the Disclosure Agreement.

The Phase 3 Landowner has previously entered into continuing disclosure undertakings pursuant to the Rule with respect to bonds issued by another community development district. A review of filings made pursuant to such prior filing indicates that the Phase 3 Landowner has not materially failed to comply with the requirements thereunder within the last five years. The Phase 4 Landowner previously entered into a continuing disclosure undertaking pursuant to the Rule, with respect to the District's Series 2020 Bonds. [Review to come.] The Landowners fully anticipate satisfying all of their respective disclosure obligations required pursuant to the Disclosure Agreement and the Rule.

UNDERWRITING

FMSbonds, Inc. (the "Underwriter"), has agreed, pursuant to a contract with the District, subject to certain  conditions,  to  purchase  the  Series  2022  Bonds  from  the  District  at  a  purchase  price  of
$ 	(par amount of the Series 2022 Bonds, [plus/less an original issue premium/discount of
$ 	and] less an Underwriter's discount of $ 	). The Underwriter's obligations are
subject to certain conditions precedent and the Underwriter will be obligated to purchase all of the Series 2022 Bonds if any Series 2022 Bonds are purchased.

The Series 2022 Bonds may be offered and sold to certain dealers, banks and others at prices lower than the initial offering prices, and such initial offering prices may be changed from time to time by the Underwriter.

CONTINGENT FEES

The District has retained Bond Counsel, District Counsel, the Consulting Engineer, the District Manager/Methodology Consultant, the Underwriter (who has retained Underwriter's Counsel) and the Trustee (which has retained Trustee's counsel), with respect to the authorization, sale, execution and delivery of the Series 2022 Bonds. Except for the payment of certain fees to District Counsel, the Consulting Engineer and the District Manager, the payment of fees of the other professionals is each contingent upon the issuance of the Series 2022 Bonds.

EXPERTS

Absolute Engineering, Inc., as District Engineer, has prepared the Engineer's Report included herein as APPENDIX A, which report should be read in its entirety. Governmental Management Services
– Central Florida, LLC, as the Methodology Consultant, has prepared the Assessment Methodology included herein as APPENDIX D, which report should be read in its entirety. As a condition to closing on the Series 2022 Bonds, both the District Engineer and the Methodology Consultant will consent to the inclusion of their reports in this Limited Offering Memorandum.

VALIDATION

Bonds issued pursuant to the terms of the Master Indenture have been validated by a judgment of the Circuit Court of the Tenth Judicial Circuit Court of Florida in and for Polk County, Florida, rendered on September 25, 2018. The period for appeal of the judgment of such bonds expired with no appeals having being taken.

LEGAL MATTERS

Certain legal matters related to the authorization, sale and delivery of the Series 2022 Bonds are subject to the approval of Greenberg Traurig, P.A., Miami, Florida, Bond Counsel. Certain legal matters will be passed upon for the Underwriter by its counsel, GrayRobinson, P.A. Tampa, Florida. Certain legal matters will be passed upon for the District by its counsel, KE Law Group, PLLC, Tallahassee, Florida. Certain legal matters will be passed upon for the Landowners by their counsel, Straughn & Turner, P.A., Winter Haven, Florida.

The form of opinion of Bond Counsel attached hereto as APPENDIX C is based on existing law, which is subject to change, and is further based on factual representations made to Bond Counsel as of the date hereof. Bond Counsel assumes no duty to update or supplement its opinion to reflect any facts or circumstances that may thereafter come to Bond Counsel's attention, or to reflect any changes in law that may thereafter occur or become effective. Moreover, Bond Counsel's opinion is not a guarantee of a particular result and is not binding on the Internal Revenue Service or the courts; rather, such opinion represents Bond Counsel's professional judgment based on its review of existing law, and in reliance on the representations and covenants that it deems relevant to such opinion.
MISCELLANEOUS

Any statements made in this Limited Offering Memorandum involving matters of opinion or estimates, whether or not expressly so stated, are set forth as such and not as representations of fact, and no representations are made that any of the estimates will be realized.

The references herein to the Series 2022 Bonds and other documents referred to herein are brief summaries of certain provisions thereof. Such summaries do not purport to be complete and reference is made to such documents for full and complete statements of such provisions.

This Limited Offering Memorandum is submitted in connection with the limited offering of the Series 2022 Bonds and may not be reproduced or used, as a whole or in part, for any purpose. This Limited Offering Memorandum is not to be construed as a contract with the purchaser or the Beneficial Owners of any of the Series 2022 Bonds.

[Remainder of page intentionally left blank.]
AUTHORIZATION AND APPROVAL

The execution and delivery of this Limited Offering Memorandum has been duly authorized by the Board of Supervisors of North Powerline Road Community Development District.

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

By:	 Chairperson, Board of Supervisors
APPENDIX A ENGINEER'S REPORT
APPENDIX B

PROPOSED FORMS OF MASTER INDENTURE AND SECOND SUPPLEMENTAL INDENTURE
APPENDIX C

PROPOSED FORM OF OPINION OF BOND COUNSEL
APPENDIX D ASSESSMENT METHODOLOGY
APPENDIX E

PROPOSED FORM OF CONTINUING DISCLOSURE AGREEMENT
APPENDIX F

DISTRICT'S FINANCIAL STATEMENTS

EXHIBIT D

FORM OF RULE 15c2-12 CERTIFICATE

North Powerline Road Community Development District
$	* Special Assessment Bonds, Series 2022

The undersigned hereby certifies and represents to FMSbonds, Inc. ("Underwriter") that he is the Chairperson of the Board of Supervisors of North Powerline Road Community Development District (the "District") is authorized to execute and deliver this Certificate, and further certifies on behalf of the District to the Underwriter as follows:
This Certificate is delivered to enable the Underwriter to comply with Rule 15c2- 12 under the Securities Exchange Act of 1934 (the "Rule") in connection with the offering and sale of the above captioned bonds (the "Series 2022 Bonds").

In connection with the offering and sale of the Series 2022 Bonds, there has been prepared a Preliminary Limited Offering Memorandum, dated the date hereof, setting forth information concerning the Series 2022 Bonds and the District (the "Preliminary Limited Offering Memorandum").

As used herein, "Permitted Omissions" shall mean the offering price, interest rate, selling compensation, aggregate principal amount, principal amount per maturity, delivery dates, ratings, the identity of the Underwriter and other terms of the Series 2022 Bonds depending on such matters.

The undersigned hereby deems the Preliminary Limited Offering Memorandum "final" as of its date, within the meaning of the Rule, except for the Permitted Omissions, and the information therein is accurate and complete except for the Permitted Omissions.
If, at any time prior to the execution of a Bond Purchase Contract, any event occurs as a result of which the Preliminary Limited Offering Memorandum might include an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, the District will promptly notify the Underwriter thereof.

IN WITNESS WHEREOF, the undersigned has hereunto set his hand this 	day of
 	, 2022.

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

Chairperson

* Preliminary, subject to change.

D-1

EXHIBIT E

FORM OF CONTINUING DISCLOSURE AGREEMENT

E-1

CONTINUING DISCLOSURE AGREEMENT

This Continuing Disclosure Agreement (this "Disclosure Agreement") dated as of
 	, 2022 is executed and delivered by the North Powerline Road Community Development District (the "Issuer" or the "District"), GLK Real Estate, LLC, a Florida limited liability company the "Phase 3 Landowner") and CH Dev, LLC, a Florida limited liability company (the "Phase 4 Landowner" and, together with the Phase 3 Landowner, the "Landowners"), and Governmental Management Services – Central Florida, LLC, a Florida limited liability company, as dissemination agent (the "Dissemination Agent") in connection with the Issuer's Special Assessment Bonds, Series 2022 (the "Bonds"). The Bonds are secured pursuant to a Master Trust Indenture dated as of December 1, 2020 (the "Master Indenture") and a Second Supplemental Trust Indenture dated as of March 1, 2022 (the "Second Supplemental Indenture" and, together with the Master Indenture, the "Indenture"), each entered into by and between the Issuer and U.S. Bank Trust Company, National Association, a national banking association duly organized and existing under the laws of the United States of America and having a designated corporate trust office in Orlando, Florida, as trustee (the "Trustee"). The Issuer, the Landowners and the Dissemination Agent covenant and agree as follows:

Purpose of this Disclosure Agreement. This Disclosure Agreement is being executed and delivered by the Issuer, the Landowners and the Dissemination Agent for the benefit of the Beneficial Owners (as defined herein) of the Bonds and to assist the Participating Underwriter (as defined herein) of the Bonds in complying with the Rule (as defined herein). The Issuer has no reason to believe that this Disclosure Agreement does not satisfy the requirements of the Rule and the execution and delivery of this Disclosure Agreement is intended to comply with the Rule. To the extent it is later determined by a court of competent jurisdiction, a governmental regulatory agency, or an attorney specializing in federal securities law, that the Rule requires the Issuer or other Obligated Person (as defined herein) to provide additional information, the Issuer and each Obligated Person agree to promptly provide such additional information.

The provisions of this Disclosure Agreement are supplemental and in addition to the provisions of the Indenture with respect to reports, filings and notifications provided for therein, and do not in any way relieve the Issuer, the Trustee or any other person of any covenant, agreement or obligation under the Indenture (or remove any of the benefits thereof) nor shall anything herein prohibit the Issuer, the Trustee or any other person from making any reports, filings or notifications required by the Indenture or any applicable law.
Definitions. Capitalized terms not otherwise defined in this Disclosure Agreement shall have the meaning assigned in the Rule or, to the extent not in conflict with the Rule, in the Indenture. The following capitalized terms as used in this Disclosure Agreement shall have the following meanings:
"Annual Filing Date" means the date set forth in Section 3(a) hereof by which the Annual Report is to be filed with each Repository.
"Annual Financial Information" means annual financial information as such term is used in paragraph (b)(5)(i)(A) of the Rule and specified in Section 4(a) of this Disclosure Agreement.
"Annual Report" shall mean any Annual Report provided by the Issuer pursuant to, and as described in, Sections 3 and 4 of this Disclosure Agreement.
"Assessment Area" shall mean that portion of the District lands subject to Assessments. "Assessments" shall mean the non-ad valorem Series 2022 Special Assessments pledged
to the payment of the Bonds pursuant to the Indenture.
"Audited Financial Statements" means the financial statements (if any) of the Issuer for the prior Fiscal Year, certified by an independent auditor as prepared in accordance with generally accepted accounting principles or otherwise, as such term is used in paragraph (b)(5)(i) of the Rule and specified in Section 4(a) of this Disclosure Agreement.
"Audited Financial Statements Filing Date" means the date set forth in Section 3(a) hereof by which the Audited Financial Statements are to be filed with each Repository if the same are not included as part of the Annual Report.

"Beneficial Owner" shall mean any person which, (a) has the power, directly or indirectly, to vote or consent with respect to, or to dispose of ownership of, any Bonds (including persons holding Bonds through nominees, depositories or other intermediaries), or (b) is treated as the owner of any Bonds for federal income tax purposes.

"Bond Year" means the annual period beginning on the second day of November of each year and ending on the first day of November of the following year.

"Business Day" means any day other than (a) a Saturday, Sunday or a day on which banks located in the city in which the designated corporate trust office of the Trustee is located are required or authorized by law or executive order to close for business, and (b) a day on which the New York Stock Exchange is closed.

"Disclosure Representative" shall mean (i) as to the Issuer, the District Manager or its designee, or such other person as the Issuer shall designate in writing to the Dissemination Agent from time to time as the person responsible for providing information to the Dissemination Agent; and (ii) as to each entity comprising an Obligated Person (other than the Issuer), the individuals executing this Disclosure Agreement on behalf of such entity or such person(s) as such entity shall designate in writing to the Dissemination Agent from time to time as the person(s) responsible for providing information to the Dissemination Agent.

"Dissemination Agent" shall mean the Issuer or an entity appointed by the Issuer to act in the capacity as Dissemination Agent hereunder, or any successor Dissemination Agent designated in writing by the Issuer pursuant to Section 8 hereof. Governmental Management Services – Central Florida, LLC has been designated as the initial Dissemination Agent hereunder.
"District Manager" shall mean Governmental Management Services – Central Florida, LLC, and its successors and assigns.
"EMMA" means the Electronic Municipal Market Access system for municipal securities disclosures located at http://emma.msrb.org/.
"EMMA Compliant Format" shall mean a format for any document provided to the MSRB (as hereinafter defined) which is in an electronic format and is accompanied by identifying information, all as prescribed by the MSRB.
"Financial Obligation" means a (a) debt obligation, (b) derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation, or (c) guarantee of an obligation or instrument described in either clause (a) or (b). Financial Obligation shall not include municipal securities as to which a final official statement has been provided to the MSRB consistent with the Rule.

"Fiscal Year" shall mean the period commencing on October 1 and ending on September 30 of the next succeeding year, or such other period of time provided by applicable law.

"Limited Offering Memorandum" shall mean that Limited Offering Memorandum dated
 	, 2022, prepared in connection with the issuance of the Bonds.

"Listed Events" shall mean any of the events listed in Section 6(a) of this Disclosure Agreement.

"MSRB" means the Municipal Securities Rulemaking Board.
"Obligated Person(s)" shall mean, with respect to the Bonds, those person(s) who either generally or through an enterprise fund or account of such persons are committed by contract or other arrangement to support payment of all or a part of the obligations on such Bonds (other than providers of municipal bond insurance, letters of credit, or other liquidity facilities), which person(s) shall include the Issuer, and for the purposes of this Disclosure Agreement, the Landowners for so long as such Landowners or their affiliates, successors or assigns (excluding residential homebuyers who are end users) are the owners of District Lands responsible for payment of at least 20% of the Assessments.

"Participating Underwriter" shall mean FMSbonds, Inc.

"Quarterly Filing Date" shall mean for the quarter ending: (i) March 31, each May 1; (ii) June 30, each August 1; (iii) September 30, each November 1; and (iv) December 31, each February 1 of the following year. The first Quarterly Filing Date shall be [November 1, 2022].
"Quarterly Report" shall mean any Quarterly Report provided by any Obligated Person (other than the Issuer) pursuant to, and as described in, Section 5 of this Disclosure Agreement.
"Repository" shall mean each entity authorized and approved by the SEC (as hereinafter defined) from time to time to act as a repository for purposes of complying with the Rule. The Repositories approved by the SEC may be found by visiting the SEC's website at http://www.sec.gov/info/municipal/nrmsir.htm. As of the date hereof, the Repository recognized by the SEC for such purpose is the MSRB, which currently accepts continuing disclosure submissions through its EMMA web portal. As used herein, "Repository" shall include the State Repository, if any.
"Rule" shall mean Rule 15c2-12(b)(5) adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as the same has and may be amended from time to time.

"SEC" means the Securities and Exchange Commission. "State" shall mean the State of Florida.
"State Repository" shall mean any public or private repository or entity designated by the State as a state repository for the purposes of the Rule.
Provision of Annual Reports.

Subject to the following sentence, the Issuer shall provide the Annual Report to the Dissemination Agent no later than March 31st following the close of the Issuer's Fiscal Year (the "Annual Filing Date"), commencing with the Annual Report for the Fiscal Year ended [September 30, 2021]. The Annual Report may be submitted as a single document or as separate documents comprising a package, and may cross-reference other information as provided in Section 4 of this Disclosure Agreement; provided that the Audited Financial Statements of the Issuer may be submitted separately from the balance of the Annual Report, and may be submitted in accordance with State law, which currently requires such Audited Financial Statements to be provided up to, but no later than, nine (9) months after the close of the Issuer's Fiscal Year (the "Audited Financial Statements Filing Date"). The Issuer shall, or shall cause the Dissemination Agent to, provide to the Repository the components of an Annual Report which satisfies the requirements of Section 4(a) of this Disclosure Agreement within thirty (30) days after same becomes available, but in no event later than the Annual Filing Date or Audited Financial Statements Filing Date, if applicable. If the Issuer's Fiscal Year changes, the Issuer shall give notice of such change in the same manner as for a Listed Event under Section 6.
If on the fifteenth (15th) day prior to each Annual Filing Date or the Audited Financial Statements Filing Date, as applicable, the Dissemination Agent has not received a copy of the Annual Report or Audited Financial Statements, as applicable, the Dissemination Agent shall contact the Disclosure Representative by telephone and in writing (which may be via email) to remind the Issuer of its undertaking to provide the Annual Report or Audited Financial Statements, as applicable, pursuant to Section 3(a). Upon such reminder, the Disclosure Representative shall either (i) provide the Dissemination Agent with an electronic copy of the Annual Report or the Audited Financial Statements, as applicable, in accordance with Section 3(a) above, or (ii) advise the Dissemination Agent in writing that the Issuer will not be able to file the Annual Report or Audited Financial Statements, as applicable, within the times required under this Disclosure Agreement, state the date by which the Annual Report or the Audited Financial Statements for such year, as applicable, will be provided and instruct the Dissemination Agent that a Listed Event as described in Section 6(a)(xvii) has occurred and to immediately send a notice to the Repository in substantially the form attached hereto as Exhibit A.

If the Dissemination Agent has not received an Annual Report by 12:00 noon on the first (1st) Business Day following the Annual Filing Date for the Annual Report or the Audited Financial Statements by 12:00 noon on the first (1st) Business Day following the Audited
Financial Statements Filing Date for the Audited Financial Statements, then a Listed Event as described in Section 6(a)(xvii) shall have occurred and the Dissemination Agent shall immediately send a notice to the Repository in substantially the form attached as Exhibit A.

The Dissemination Agent shall:

determine each year prior to the Annual Filing Date the name, address and filing requirements of the Repository; and

promptly upon fulfilling its obligations under subsection (a) above, file a notice with the Issuer stating that the Annual Report or Audited Financial Statement has been provided pursuant to this Disclosure Agreement, stating the date(s) it was provided and listing all Repositories with which it was filed.

All documents, reports, notices, statements, information and other materials provided to the MSRB under this Disclosure Agreement shall be provided in an EMMA Compliant Format.

Content of Annual Reports.

Each Annual Report shall be in the form set in Schedule A attached hereto and shall contain the following Annual Financial Information with respect to the Issuer:

All fund balances in all Funds, Accounts and subaccounts for the Bonds and the total amount of Bonds Outstanding, in each case as of December 31st following the end of the most recent prior Fiscal Year.
The method by which Assessments are being levied (whether on- roll or off-roll) and the amounts being levied by each method in the Assessment Area for the current Fiscal Year, and a copy of the assessment roll (on roll and off roll) for the Assessments certified for collection in the Assessment Area for the current Fiscal Year.
The method by which Assessments were levied (whether on-roll or off-roll) and the amounts levied by each method in the Assessment Area for the most recent prior Fiscal Year.

The amount of Assessments collected in the Assessment Area from the property owners during the most recent prior Fiscal Year.

If available, the amount of delinquencies in the Assessment Area greater than one hundred fifty (150) days, and, in the event that delinquencies amount to more than ten percent (10%) of the amounts of the Assessments due in any year, a list of delinquent property owners.

If available, the amount of tax certificates sold for lands within the Assessment Area, if any, and the balance, if any, remaining for sale from the most recent Fiscal Year.

current Fiscal Year.
The amount of principal and interest to be paid on the Bonds in the

The most recent Audited Financial Statements of the Issuer.
In the event of any amendment or waiver of a provision of this
Disclosure Agreement, a description of such amendment or waiver in the next Annual Report, and in each case shall include, as applicable, a narrative explanation of the reason for the amendment or waiver and its impact on the type (or, in the case of a change in accounting principles, on the presentation) of financial information or operating data being presented by the Issuer. In addition, if the amendment relates to the accounting principles to be followed in preparing financial statements: (i) notice of such change shall be given in the same manner as for a Listed Event under Section 6(b); and (ii) the Annual Report for the year in which the change is made should present a comparison (in narrative form and also, if feasible, in quantitative form) between the financial statements as prepared on the basis of the new accounting principles and those prepared on the basis of the former accounting principles.

To the extent any of the items set forth in subsections (i) through (vii) above are included in the Audited Financial Statements referred to in subsection (viii) above, they do not have to be separately set forth (unless Audited Financial Statements are being delivered later than March 31st after the close of the Issuer's Fiscal Year pursuant to Section 3(a) hereof). Any or all of the items listed above may be incorporated by reference from other documents, including limited offering memorandums and official statements of debt issues of the Issuer or related public entities, which have been submitted to the MSRB or the SEC. If the document incorporated by reference is a final limited offering memorandum or official statement, it must be available from the MSRB. The Issuer shall clearly identify each such other document so incorporated by reference.

The Issuer and each Obligated Person agree to supply, in a timely fashion, any information reasonably requested by the Dissemination Agent that is necessary in order for the Dissemination Agent to carry out its duties under this Disclosure Agreement. The Issuer acknowledges and agrees that the information to be collected and disseminated by the Dissemination Agent will be provided by the Issuer, Obligated Persons and others. The Dissemination Agent's duties do not include authorship or production of any materials, and the Dissemination Agent shall have no responsibility hereunder for the content of the information provided to it by the Issuer, an Obligated Person or others as thereafter disseminated by the Dissemination Agent.

Any Annual Financial Information containing modified operating data or financial information is required to explain, in narrative form, the reasons for the modification and the impact of the change in the type of operating data or financial information being provided.

Quarterly Reports.

Each Obligated Person (other than the Issuer), or the Landowners on behalf of any other Obligated Person that fails to execute an Assignment (as hereinafter defined), shall provide an electronic copy of the Quarterly Report to the Dissemination Agent no later than fifteen
(15) days prior to the Quarterly Filing Date. Promptly upon receipt of an electronic copy of the
Quarterly Report, but in any event no later than the applicable Quarterly Filing Date, the Dissemination Agent shall provide a Quarterly Report to the Repository.

Each Quarterly Report shall be in the form set in Schedule B attached hereto and contain an update of the following information to the extent available:

The number and type of lots planned in the Assessment Area subject
to the Assessments.

With respect to lots owned in the Assessment Area by the Obligated
Person: the total number of lots owned, the number of lots under contract but not closed with a homebuilder and the name of such homebuilder, the number of lots closed with a homebuilder, the number of lots not under contract with a homebuilder.

The number and type of lots developed in the Assessment Area.

The number and type of lots platted in the Assessment Area.

With respect undeveloped and unplatted lands owned in the Assessment Area by the Obligated Person, a description of the status for lot development within such lands.

The cumulative number and type of homes closed with homebuyers (delivered to end users) in the Assessment Area.
The number and type of homes under contract and not closed with homebuyers in the Assessment Area in such quarter.
With respect to the Assessment Area, material changes to (1) builder contracts, (2) the number or type of lots planned to be developed, (3) permits/approvals, and (4) existing mortgage debt of the Obligated Person or the incurrence of new mortgage debt by the Obligated Person.

Any sale, assignment or transfer of ownership by the Obligated Person of lands in the Assessment Area to a third party which will in turn become an Obligated Person hereunder.

If an Obligated Person sells, assigns or otherwise transfers ownership of real property in an Assessment Area (a "Transferor Obligated Person") to a third party (a "Transferee"), which will in turn be an Obligated Person for purposes of this Disclosure Agreement as a result thereof (a "Transfer"), the Transferor Obligated Person hereby agrees to use its best efforts to contractually obligate such Transferee to agree to comply with the disclosure obligations of an Obligated Person hereunder for so long as such Transferee is an Obligated Person hereunder, to the same extent as if such Transferee were a party to this Disclosure Agreement (an "Assignment"). The Transferor Obligated Person shall notify the District and the Dissemination Agent in writing of any Transfer within five (5) Business Days of the occurrence thereof. Nothing herein shall be construed to relieve the Landowners from their respective obligations hereunder except to the
extent a written Assignment from a Transferee is obtained and delivered to the Dissemination Agent and then only to the extent of such Assignment.

Reporting of Listed Events.
This Section 6 shall govern the giving of notices of the occurrence of any of the following Listed Events:
Principal and interest payment delinquencies;

Non-payment related defaults, if material;
Unscheduled draws on the Series 2022 Reserve Account reflecting
financial difficulties;

difficulties;* perform;*

Unscheduled  draws  on  credit  enhancements  reflecting  financial

Substitution  of  credit  or  liquidity  providers,  or  their  failure  to

Adverse tax opinions, the issuance by the Internal Revenue Service
of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax status of the Bonds, or other material events affecting the tax status of the Bonds;

Modifications to rights of Bond holders, if material;

Bond calls, if material, and tender offers;

Defeasances;

Release, substitution, or sale of property securing repayment of the
Bonds, if material;

Rating changes;*
Bankruptcy, insolvency, receivership or similar event of the Issuer
or any Obligated Person (which is considered to occur when any of the following occur: the appointment of a receiver, fiscal agent or similar officer for the Issuer or any Obligated Person in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the Issuer or any Obligated Person, or if such jurisdiction has been assumed by leaving the existing governing body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement or liquidation by a court or governmental

* Not applicable to the Bonds at their date of issuance.
authority having supervision or jurisdiction over substantially all of the assets or business of the Issuer or any Obligated Person);

Consummation of a merger, consolidation, or acquisition involving the Issuer or any Obligated Person or the sale of all or substantially all of the assets of the Issuer or any Obligated Person, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material;

Appointment of a successor or additional Trustee or the change of name of the Trustee, if material;
Incurrence of a Financial Obligation of the Issuer or Obligated Person, if material, or agreement to covenants, events of default, remedies, priority rights, or other similar terms of a Financial Obligation of the Issuer or Obligated Person, any of which affect security holders, if material;
Default, event of acceleration, termination event, modification of terms, or other similar events under the terms of the Financial Obligation of the Issuer or Obligated Person, any of which reflect financial difficulties;

Failure to provide (A) any Annual Report or Audited Financial Statements as required under this Disclosure Agreement that contains, in all material respects, the information required to be included therein under Section 4(a) of this Disclosure Agreement, or
(B) any Quarterly Report that contains, in all material respects, the information required to be included therein under Section 5(b) of this Disclosure Agreement, which failure shall, in all cases, be deemed material under federal securities laws; and
Any amendment to the accounting principles to be followed in preparing financial statements as required pursuant to Section 4(a)(ix) hereof.

The Issuer shall give, or cause to be given, notice of the occurrence of any of the above subsection (a) Listed Events to the Dissemination Agent in writing in sufficient time in order to allow the Dissemination Agent to file notice of the occurrence of such Listed Event in a timely manner not in excess of ten (10) Business Days after its occurrence, with the exception of the Listed Events described in Section 6(a)(xvii) and (xviii), which notice will be given in a timely manner. Such notice shall instruct the Dissemination Agent to report the occurrence pursuant to subsection (d) below. Such notice by the Issuer to the Dissemination Agent shall identify the Listed Event that has occurred, include the text of the disclosure that the Issuer desires to make, contain the written authorization of the Issuer for the Dissemination Agent to disseminate such information, and identify the date the Issuer desires for the Disclosure Dissemination Agent to disseminate the information (provided that such date is in compliance within the filing dates provided within this Section 6(b)).

Notwithstanding anything contained in Section 6(b) above, each Obligated Person other than the Issuer shall notify the Issuer and the Dissemination Agent of the occurrence of a Listed Event described in subsections (a)(x), (xii), (xiii), (xv) or (xvi) that has occurred with
respect to such Obligated Person in compliance with the notification and filing requirements provided in Section 6(b).

If the Dissemination Agent has been instructed by the Issuer to report the occurrence of a Listed Event, the Dissemination Agent shall immediately file a notice of such occurrence with each Repository.
Termination of Disclosure Agreement. This Disclosure Agreement shall terminate upon the defeasance, prior redemption or payment in full of all of the Bonds.
Dissemination Agent. Upon termination of the Dissemination Agent's services as Dissemination Agent, whether by notice of the Issuer or the Dissemination Agent, the Issuer agrees to appoint a successor Dissemination Agent or, alternatively, agrees to assume all responsibilities of Dissemination Agent under this Disclosure Agreement for the benefit of the Holders of the Bonds. If at any time there is not any other designated Dissemination Agent, the District shall be deemed to be the Dissemination Agent. The initial Dissemination Agent shall be Governmental Management Services – Central Florida, LLC. The acceptance of such designation is evidenced by the execution of this Disclosure Agreement by a duly authorized signatory of Governmental Management Services – Central Florida, LLC. Governmental Management Services – Central Florida, LLC, may terminate its role as Dissemination Agent at any time upon delivery of sixty
(60) days prior written notice to the District and each Obligated Person. The District may terminate the agreement hereunder with the Dissemination Agent at any time upon delivery of sixty (60) days prior written notice to the Dissemination Agent and each Obligated Person.

Amendment; Waiver. Notwithstanding any other provision of this Disclosure Agreement, the Issuer and the Dissemination Agent may amend this Disclosure Agreement, and any provision of this Disclosure Agreement may be waived, if such amendment or waiver is supported by an opinion of counsel expert in federal securities laws, acceptable to the Issuer, to the effect that such amendment or waiver would not, in and of itself, cause the undertakings herein to violate the Rule if such amendment or waiver had been effective on the date hereof but taking into account any subsequent change in or official interpretation of the Rule.

Notwithstanding the above provisions of this Section 9, no amendment to the provisions of Section 5(b) hereof may be made without the consent of each Obligated Person, if any.
Additional Information. Nothing in this Disclosure Agreement shall be deemed to prevent the Issuer from disseminating any other information, using the means of dissemination set forth in this Disclosure Agreement or any other means of communication, or including any other information in any Annual Report or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Agreement. If the Issuer chooses to include any information in any Annual Report or notice of occurrence of a Listed Event in addition to that which is specifically required by this Disclosure Agreement, the Issuer shall have no obligation under this Disclosure Agreement to update such information or include it in any future Annual Report or notice of occurrence of a Listed Event.

Default. In the event of a failure of the Issuer, the Disclosure Representative, any Obligated Person or the Dissemination Agent to comply with any provision of this Disclosure
Agreement, the Trustee may (and, at the request of any Participating Underwriter or the Beneficial Owners of at least twenty-five percent (25%) aggregate principal amount of Outstanding Bonds and receipt of indemnity satisfactory to the Trustee, shall), or any beneficial owner of a Bond may take such actions as may be necessary and appropriate, including seeking mandamus or specific performance by court order, to cause the Issuer, the Disclosure Representative, any Obligated Person or a Dissemination Agent, as the case may be, to comply with its obligations under this Disclosure Agreement. A default under this Disclosure Agreement by any Obligated Person shall not be deemed a default by the Issuer hereunder and no default hereunder shall be deemed an Event of Default under the Indenture, and the sole remedy under this Disclosure Agreement in the event of any failure of the Issuer, the Disclosure Representative, any Obligated Person, or a Dissemination Agent, to comply with this Disclosure Agreement shall be an action to compel performance.

Duties of Dissemination Agent. The Dissemination Agent shall have only such duties as are specifically set forth in this Disclosure Agreement between the District, the Landowners and such Dissemination Agent. The Dissemination Agent shall have no obligation to notify any other party hereto of an event that may constitute a Listed Event. The District, each Obligated Person and the Disclosure Representative covenant that they will supply, in a timely fashion, any information reasonably requested by the Dissemination Agent that is necessary in order for the Dissemination Agent to carry out its duties under this Disclosure Agreement. The District, the Landowners and the Disclosure Representative acknowledge and agree that the information to be collected and disseminated by the Dissemination Agent will be provided by the District, Obligated Person(s), the Disclosure Representative and others. The Dissemination Agent's duties do not include authorship or production of any materials, and the Dissemination Agent shall have no responsibility hereunder for the content of the information provided to it by the District, any Obligated Person or the Disclosure Representative as thereafter disseminated by the Dissemination Agent. Any filings under this Disclosure Agreement made to the MSRB through EMMA shall be in an EMMA compliant format.

Beneficiaries. This Disclosure Agreement shall inure solely to the benefit of the Issuer, the Landowners, the Dissemination Agent, the Trustee, the Participating Underwriter and the Owners of the Bonds (the Dissemination Agent, the Trustee, Participating Underwriter and Owners of the Bonds being hereby deemed express third party beneficiaries of this Disclosure Agreement), and shall create no rights in any other person or entity.

Tax Roll and Budget. Upon the request of the Dissemination Agent, the Trustee or any Bondholder, the Issuer, through its District Manager, if applicable, agrees to provide such party with a certified copy of its most recent tax roll provided to the Polk County Tax Collector and the Issuer's most recent adopted budget.

Governing Law. The laws of the State of Florida and Federal law shall govern this Disclosure Agreement and venue shall be any state or federal court having jurisdiction in Polk County, Florida.
Counterparts. This Disclosure Agreement may be executed in several counterparts and each of which shall be considered an original and all of which shall constitute but one and the
same instrument. A scanned copy of the signatures delivered in a PDF format may be relied upon as if the original had been received.

Trustee Cooperation. The Issuer represents that the Dissemination Agent is a bona fide agent of the Issuer and the Issuer instructs the Trustee to deliver to the Dissemination Agent at the expense of the Issuer, any information or reports readily available to and in the possession of the Trustee that the Dissemination Agent requests in writing.

Binding Effect. This Disclosure Agreement shall be binding upon each party to this Disclosure Agreement and upon each successor and assignee of each party to this Disclosure Agreement and shall inure to the benefit of, and be enforceable by, each party to this Disclosure Agreement and each successor and assignee of each party to this Disclosure Agreement. Notwithstanding the foregoing, as to the Landowners or any assignee or successor thereto that becomes an Obligated Person pursuant to the terms of this Disclosure Agreement, only successor or assignees to such parties who are, by definition, Obligated Persons, shall be bound or benefited by this Disclosure Agreement.

[Signature Page Follows]
IN WITNESS WHEREOF, the undersigned has executed this Disclosure Agreement as of the date and year set forth above.

[SEAL]
NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT, AS ISSUER

ATTEST:

By:	 	
 	, Secretary
By:	 	
 	, Chairperson Board of Supervisors

GLK REAL ESTATE, LLC, AS PHASE 3 LANDOWNER

By:  	
 	, Manager

CH DEV, LLC, AS PHASE 4 LANDOWNER

By:  	
 	, Manager

GOVERNMENTAL MANAGEMENT SERVICES – CENTRAL FLORIDA, LLC, and
its successors and assigns, AS DISSEMINATION AGENT

By:	 Name:	 Title:   		
CONSENTED TO AND AGREED TO BY: DISTRICT MANAGER
GOVERNMENTAL MANAGEMENT SERVICES – CENTRAL FLORIDA, LLC, AS DISTRICT MANAGER
By:	 Name:	 Title:  	

Acknowledged and agreed to for purposes of Sections 11, 13 and 17 only:
U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, AS TRUSTEE
By:	 Name:	 Title:  	
EXHIBIT A

FORM OF NOTICE TO REPOSITORIES OF FAILURE TO FILE [ANNUAL REPORT]
[AUDITED FINANCIAL STATEMENTS][QUARTERLY REPORT]

Name of Issuer:	North Powerline Road Community Development District

Name of Bond Issue:	$ 	original aggregate principal amount of Special
Assessment Bonds, Series 2022

Obligated Person(s):	North Powerline Road Community Development District;
 	.

Original Date of Issuance:	 		, 2022 CUSIP Numbers:	 	
NOTICE IS HEREBY GIVEN that the [Issuer][Obligated Person] has not provided an [Annual Report] [Audited Financial Statements] [Quarterly Report] with respect to the above- named Bonds as required by [Section 3] [Section 5] of the Continuing Disclosure Agreement dated
 	, 2022, by and between the Issuer, the Landowners and the Dissemination Agent named therein. The [Issuer][Obligated Person] has advised the undersigned that it anticipates that the  [Annual  Report]  [Audited  Financial  Statements]  [Quarterly  Report]  will  be  filed  by
 	, 20 		. Dated:  		
 	, as Dissemination Agent

By:	 Name:	 Title:  	

cc:	Issuer Trustee
SCHEDULE A

FORM OF DISTRICT'S ANNUAL REPORT (Due 3/31)
Fund Balances

Combined Trust Estate Assets	Quarter Ended – 12/31
Acquisition and Construction Fund Revenue Fund
Reserve Fund Prepayment Fund Other
Total Bonds Outstanding TOTAL

Assessment Certification and Collection Information

For the Current District Fiscal Year ‒ Manner in which Assessments are collected (On Roll vs. Off Roll)

$ Certified
On Roll	$ 	
Off Roll	$ 	
TOTAL	$ 	

Attach to Report the following:

On Roll ‒ Copy of certified assessment roll for the District's current Fiscal Year

Off Roll ‒ List of folios and ownership for all off roll Assessments, together with par and annual Assessment assigned to each folio

For the immediately ended Bond Year, provide the levy and collection information

Total Levy	$ Levied	$ Collected	% Collected	% Delinquent	
On Roll	$ 		$ 		 	%	 	%	
Off Roll	$ 		$ 		 	%	 	%	
TOTAL					

If available, the amount of delinquencies in the Assessment Area greater than one hundred fifty
(150) days, and, in the event that delinquencies amount to more than ten percent (10%) of the amount of the Assessments due in any year, a list of delinquent property owners

If available, the amount of tax certificates sold for lands within the Assessment Area, if any, and the balance, if any, remaining for sale from the most recent Fiscal Year

The amount of principal and interest to be paid on the Bonds in the current Fiscal Year
SCHEDULE B

FORM OF OBLIGATED PERSON'S QUARTERLY REPORT
Bond Information
North Powerline Road Community Development District Date of Quarterly Report	 		 Bond Series		2022
Area/Project
NOTE: IF MORE THAN ONE ASSESSMENT AREA, INFORMATION NEEDS TO BE COMPLETED FOR EACH AREA
Unit Mix For Land Subject To Assessments
Ownership Information
Type	Number of Lots/Units	Developer Owned	Builder Owned	Homeowner Owned
Total
For Lots owned by Obligated Person (if applicable)
Type
# of Lots Owned by Obligated Person
# of Lots Under Contract With Builders (NOT CLOSED)
# of Lots NOT Under Contract
Name of Builder
Expected Takedown Date(s)

Total
Status of Land Subject to Assessments
Lots developed (cumulative, not quarterly activity), by phase or sub-phase:
Assessment Area
Total
Lots platted (cumulative, not quarterly activity), by phase or sub-phase:
Assessment Area
Total
For lots not developed, and platted, provide brief description on status of lot development for land area securing the Bonds:
When do you anticipate lots will be developed (for each phase or sub phase)?
When do you anticipate lots will be platted (for each phase or sub phase)?
Provide total amount of money spent on land development to date (include money funded with bonds and with other sources)
Homes Closed with End-Users:
CUMULATIVE
Total
Homes Sold To End Users (AND NOT CLOSED):
QUARTER ONLY
Total
Development Changes and Status Updates
Material changes to Builder Contracts (i.e., change of terms or cancellation of contract, change of takedown dates)?
Any bulk sales of land within the District to other developers or builders?
Any material changes to the number or type of lots planned to be developed in the Assessment Area?
Any materially adverse changes or determinations to permits/approvals for the Assessment Area which necessitate changes to the development plans?
Incurrence of any new or modified mortgage debt on the land owned by the Obligated Person in the Assessment Area (amount, rate, and term)?
Sale, assignment or transfer of ownership of real property in the Assessment Area to a third party, which will in turn be an Obligated Person?

*This report contains statements, which to the extent they are not recitations of historical fact, constitute "forward-looking statements." In this respect, the words "anticipate", "estimate", "expect", and "belief", and similar expressions are intended to identify forward-looking statements. Such statements may be subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements.

17

SECTION VII
f ffl	ll bonds
M uni ,ci    pal Bond Specialists

February 3, 2022

North Powerline Road Community Development District c/o Governmental Management Services
219 East Livingston Street Orlando, Florida 32801 Attn: Ms. Jillian Burns

Re:	N011h Powerline Road COD, Series 2022 Bonds Dear Ms. Burns:
We are writing to provide you, as the North Powerline Road Community Development District (the "Issuer") , with certain disclosures relating to the captioned bond issue (the "Bonds"), as required by the Municipal Securities Rulemaking Board (MSRB) Rule G-17 Disclosure , as set forth in the amended and restated MSRB Notice 2019 -20 (November 8, 2019)1 (the " Notice "). We ask that you provide this letter to the appropriate person at the Issuer.

The  Issuer  recognizes that  FMSbonds,   Inc.  will  serve  as  the   underwriter   (the  " Underwriter ") and not as a financial advisor or municipal advisor , in connection with the issuance of the bonds relating to this financing (herein, the 'Bonds"). As part of our services as Underwriter , FMSbonds, Inc . may provide advice concerning the structure, timin g, terms , and other similar matters concerning the issuance of the Bonds. Any such advice, if given, will be provided by FMSbonds, Inc. as Underwriter and not as your financial advisor or municipal advisor in this transaction . The Issuer may choose to engage the services of a municipal advisor with a fiduciary obligation to represent the Issuer ' s interest in this transaction.

The specific parameters under which FMS will  underwrite  the Bonds  will  be set fo11h in a Bond Resolution adopted by the Board.

Pursuant to the Notice, we are required by the MSRB to advise you that:

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

1 Interpretive Notice Co n cern i n g the App li cat i on of MSRB Rule G- 1 7 to underwriters and Underwriters of Municipal Securities (effective March 31 , 202 1 ).
The Underwriter ' s primary role is to purchase the Bonds in an arm's-length commercial transaction with the Issuer. As such, the Underwriter has financial and other interests that differ from those of the Issuer.

Unlike a municipal adviso r, the Underwriter does not have a fiduciary duty to the Issuer under the federal securities laws and is, therefore, not required  by federal  law to act in the best interests of the Issuer without regard to its own financial or other interests.

The Underwriter has a duty to purchase the Bonds from the Issuer at a fair and reasonable pric e, but must balance that duty with its duty to use its best efforts to resell the Bonds with purchases at prices that are fair and reasonable.

The Bonds may be sold into a trust either at the time of issuance or subsequent to issuance. In such instance FMSbonds, Inc. , not in its capacity of Underwriter , may participate in such trust arrangement by performing certain administrative roles. Any compensation paid to FMSbonds , Inc. would not be derived from the proceeds of the Bonds or from the revenues pledged thereunder.

The Underwriter will be compensated in accordance with the terms of a bond purchase contract by and between the Underwriter and Issuer. Payment or receipt of the Underwriter ' s compensation will be contingent on the closing of the transaction. While this form of compensation is customary in the municipal securities market , it presents a conflict of interest since an Underwriter may have an incentive to recommend a transaction that is unnecessary or to recommend that the size of a transaction be larger than is necessary . The Issuer acknowledges no such recommendation has been made by the Underwriter.

Please note nothing in this letter is an expressed or an implied commitment by us to provide financing or to place or purchase the Bonds. Any such commitment shall only  be set  forth in a bond purchase contract or other appropriate form of agreement for the type of transaction undertaken by you.

Further, our participation in any transaction (contemplated herein or otherwise) remains subject to, among other things , the execution of a bond purchase contract (or other appropriate form of agreement) , further internal review and approva ls , satisfactory completion of our due diligence investigation and market conditions.

FMSbonds , Inc. is acting independently in seeking to act as Underwriter in  the transaction contemplated herein and shall not be deemed for any purpose to  be acting  as an agent, joint venturer or partner of any other principal involved in the proposed financing. FMSbonds, Inc. assumes no responsibi lit y, express or implied,  for any actions or omissions of, or the performance of services by, the purchasers or any other brokers in connection with the transactions contemplated herein or otherwise.

If you or any other representative of the Issuer have any questions or concerns about these disclosures, please make those questions or concerns known immediately to the undersigned. In add iti on, you should consult with your own financial, municipal , legal,
accounting , tax and other adviso rs, as applica ble , to the extent deemed appropriate .

The MSRB requires that we seek the Issuer ' s acknowledgement that it has received this letter. We request that the person at the Issuer who has the authority to bind the Issuer (herein, " Author ized Issuer Representative") acknowledge this letter as soon as practicable and by nature of such acknowledgment that such person is not a party to any conflict of interest relating to the subject transaction. If our understanding is inc orrect, please notify the undersigned immediately.

Depending on the structure of the transaction that the Issuer decides to pursue, or if additional actual or perceived material conflicts are identified, we may be required to send you additional dis closures . At that time, we also will seek your acknowledgement of receipt of any such additional disclosures.

We look forward to working with you in connection with the issuance of the Bonds, and we appreciate the opportunity to assist you in this transaction. Thank you .

FMSbonds, In c.

By:
Name: J Tit le:

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

By:	 	

SECTION VIII
RESOLUTION 2022-07

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT TO DESIGNATE DATE, TIME AND PLACE OF PUBLIC HEARING AND AUTHORIZATION TO PUBLISH NOTICE OF SUCH HEARING FOR THE PURPOSE OF ADOPTING AMENITY POLICIES AND RATES; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the North Powerline Road Community Development District (the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within the City of Davenport Florida, and unincorporated Polk County, Florida; and

WHEREAS, Chapter 190, Florida Statutes, authorizes the District’s Board of Supervisors (“Board”) to adopt rules setting amenity rates pursuant to Chapter 120, Florida Statutes.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. The Board of Supervisors will hold a public hearing to adopt Amenity Policies and Rates setting forth the suspension and termination of privileges related to the use of the district’s recreational facilities and services, and establish non-resident fees and rental rates, among others, related to the use of the District’s recreational facilities and services, a proposed copy of which is attached hereto as Exhibit A (“Amenity Rules”).   The Board will hold a public  hearing on 	, 2022, at :00 a/p.m., at 	.

SECTION 2. The District Secretary is directed to publish notice of the hearing in accordance with Section 120.54, Florida Statutes.
SECTION 3. This Resolution shall become effective immediately upon its adoption.
PASSED AND ADOPTED this 23rd day of February, 2022.

ATTEST:	NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors
Exhibit A	Amenity Rules

NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT

AMENITY POLICIES AND RATES

ADOPTED – 	, 2022 1

1 LAW IMPLEMENTED: SS. 190.011, 190.035, FLA. STAT. (2021); In accordance with Chapter 190 of the Florida Statutes, and on 	, 2022, at a duly noticed joint public meeting and after a duly noticed public hearing, the Boards of Supervisors of the North Powerline Road Community Development District adopted the following rules, policies and rates governing the operation of the District’s facilities and services, including the stormwater management facilities and the Amenity Facilities (defined below).
Table of Contents
Definitions	1
Amenities Access and Usage	3
General Amenity Policies	5
Smoking, Drugs and Alcohol	7
Service Animal Policy	7
Swimming Pool Policies	8
Playground Policies	10
Lakes and Ponds Policies	11
Suspension and Termination of Privileges	12
Use At Own Risk; Indemnification	14
Sovereign Immunity	14
Severability	14
Amendments and Waivers	15

Amenity Policies and Rates – Table of Contents
DEFINITIONS
“Amenities” or “Amenity Facilities”– shall mean the properties and areas owned by the District and intended for recreational use and shall include, but not specifically be limited to swimming pool, pool deck, tot lot, playground and lakes, together with their appurtenant facilities and areas.

“Amenity Policies” or “Policies” and “Amenity Rates” – shall mean these Amenity Policies and Rates of the North Powerline Road Community Development District, as amended from time to time. The Board of Supervisors reserves the right to amend or modify these Policies, as necessary and convenient, in their sole and absolute discretion, and will notify Patrons of any changes. Patrons may obtain the currently effective Policies from the District Manager’s Office. The Board of Supervisors and District Staff shall have full authority to enforce the Amenity Policies.

“Amenity Manager” – shall mean the District Manager or that person or firm so designated by the District’s Board of Supervisors, including their employees.

“Amenity Rates” – shall mean those rates and fees established by the Board of Supervisors of the North Powerline Road Community Development District as provided in Exhibit A attached hereto.

“Access Card” – shall mean an electronic Access Card issued by the District Manager to each Patron (as defined herein) to access the Amenity Facilities.

“Board of Supervisors” or “Board” – shall mean the Board of Supervisors of the North Powerline Road Community Development District.
“District” – shall mean the North Powerline Road Community Development District.

“District Staff” – shall mean the professional management company with which the District has contracted to provide management services to the District, the Amenity Manager, and District Counsel.

“Guest” – shall mean any person or persons, other than a Patron, who are expressly authorized by the District to use the Amenities, or invited for a specific visit by a Patron to use the Amenities.

“Homeowners Association” or “HOA” or “POA” – shall mean an entity or entities, including its/their employees and agents, which may have jurisdiction over lands located within the District, either now or in the future, which may exist to aid in the enforcement of deed restrictions and covenants applicable to lands within the District.

“Household” – shall mean a residential unit or a group of individuals residing within a Patron’s home. This does not include visiting friends, guests, relatives or extended family not permanently residing in the home. Upon District’s request, proof of residency for individuals over the age of eighteen (18) years may be required by driver’s license or state or federal issued form of identification, including a signed affidavit of residency.

“Lakes” or “Ponds” – shall mean those water management and control facilities and waterways within the Districts, including but not limited stormwater management facilities, lakes and ponds.
“Non-Resident” – shall mean any person who does not own property within the District.

“Non-Resident Patron” – shall mean any person or Household not owning property in the District who is paying the Annual User Fee to the District for use of all Amenity Facilities.
“Non-Resident User Fee” or “Annual User Fee” – shall mean the fee established by the District for any person that is not a Resident and wishes to become a Non-Resident Patron. The amount of the Annual User Fee is set forth herein, and that amount is subject to change based on Board action.
“Patron” – shall mean Residents, Guests, Non-Resident Patrons and Renters.

“Renter” – shall mean a tenant, occupant or an individual maintaining his or her residence in a home located within the District pursuant to a valid rental or lease agreement. Proof of valid rental or lease agreement shall be required.
“Resident” – shall mean any person or Household owning property within the District.

The words "hereof," "herein," "hereto," "hereby," “hereinafter” and "hereunder" and variations thereof refer to the entire Amenity Policies and Rates.

All words, terms and defined terms herein importing the singular number shall, where the context requires, import the plural number and vice versa.
AMENITIES ACCESS AND USAGE
General. Only Patrons and Guests have the right to use the Amenities; provided, however, that certain community programming events may be available to the general public where permitted by the District, and subject to payment of any applicable fees and satisfaction of any other applicable requirements, including adherence to these Amenity Policies and execution of waivers and hold harmless agreements, if any.
Use at your Own Risk. All persons using the Amenities do so at their own risk and agree to abide by the Amenity Policies. The District shall assume no responsibility and shall not be liable in any incidents, accidents, personal injury or death, or damage to or loss of property arising from the use of the Amenities or from the acts, omissions or negligence of other persons using the Amenities.
Resident Access and Usage. In consideration of the operation, maintenance and preservation of the facilities, projects and services of the District, the District levies maintenance special assessments to property owners within the District, in accordance with the District’s annual budget and assessment resolutions adopted each fiscal year. Residents must pay such maintenance special assessments, which covers Annual User Fee applicable to such Resident, entitling the Resident to use the Amenities for the corresponding fiscal year of the District, which fiscal year begins October 1 and ends September 30. Residents must complete the “Amenity Access Registration Form” prior to access or use of the Amenities, attached hereto as Exhibit B, and receive an Access Card.
Non-Resident Patron Access and Usage. A Non-Resident Patron must pay the Annual User Fee applicable to Non-Residents to have the right to use the Amenities for one full year, which year begins from the date of receipt of payment by the District. This fee must be paid in full before the Non-Resident may use the Amenities. Each subsequent Annual User Fee shall be paid in full on the anniversary date of application. Annual User Fees may be renewed no more than thirty (30) days in advance of the date of expiration and for no more than one calendar year. Multi-year memberships are not available. The Annual User Fee is nonrefundable and nontransferable. Non-Resident Patrons must complete the Amenity Facilities Access Registration Form prior to access or use of the Amenities.

Guest Access and Usage. Each Patron Household is entitled to bring four (4) persons as Guests to the Amenities at one time. District Staff shall be authorized to verify and enforce the authorized number of Guests. A Patron must always accompany its Guests during its Guests’ use of the Amenities and are responsible for all actions, omissions and negligence of such Guests, including Guests’ adherence to the Amenity Policies. Violation of these Amenity Policies by a Guest may result in suspension or termination of the Patron’s access and usage privileges. Exceeding the authorized number of Guests specified above shall be grounds for suspension or termination of a Patron Household’s access and usage privileges.

Renter’s Privileges. Residents who rent or lease residential units in the District shall have the right to designate the Renter of a residential unit as the beneficial users of the Resident’s privileges to use the Amenities, subject to requirements stated herein.
Resident shall provide a written notice to the District Manager designating and identifying the Renter who shall hold the beneficial usage rights, submitting with such notice the Renter’s proof of residency (i.e., a copy of the lease agreement). Upon notice, Resident shall be required to pay any applicable fee before his or her Renter receives an Access Card. Renter’s Access Card shall expire at the end of the lease term and may be reactivated upon provision of proof of residency.
Renter who is designated by a Resident as the beneficial user of the Resident’s rights to use the Amenities shall be entitled to the same rights and privileges to use the Amenities as the Resident, subject
to all Amenity Policies. During the period when a Renter is designated as the beneficial user, the Resident shall not be entitled to use the Amenities. In other words, Renter’s and Resident’s cannot simultaneously hold Amenity privileges associated with that residential unit. Residents may retain their Amenities rights in lieu of granting them to their Renters.
Residents shall be responsible for all charges incurred by their Renters which remain unpaid after the customary billing and collection procedures established by the District. Residents are responsible for the deportment of their respective Renter, including the Renter’s adherence to the Amenity Policies.

Access Cards. Access Cards will be issued to each Household at the time they are closing upon property within the District, or upon approval of Non-Resident Patron application and payment of applicable Annual User Fee, or upon verification and approval of Renter designation. Proof of property ownership may be required annually. All Patrons must use their Access Card for entrance to the Amenities. Access Card shall not be issued to Non-Residents. A maximum of two (2) Access Cards will be issued per Household.
All Patrons must use their Access Cards for entrance to the Amenity Facilities. Each Household will be authorized initial Access Cards free of charge after which a fee shall be charged for each additional Access Card in accordance with the Amenity Rates then in effect.
Patrons must scan their Access Cards in the card reader to gain access to the Amenities. This Access Card system provides a security and safety measure for Patrons and protects the Amenities from non- Patron entry. Under no circumstances, shall a Patron provide their Access Card to another person, whether Patron or non-Patron, to allow access to the Amenities.
Access Cards are the property of the District and are non-transferable except in accordance with the District’s Amenity Policies. All lost or stolen cards must be reported immediately to District Staff. Fees shall apply to replace any lost or stolen cards.
GENERAL AMENITY POLICIES
Hours of Operation. All hours of operation of the Amenities will be established and published by the District on its website. The District may restrict access or close some or all of the Amenities due to inclement weather, for purposes of providing a community activity, for making improvements, for conducting maintenance, or for other purposes as circumstances may arise. Any programs or activities of the District may have priority over other users of the Amenities. Unless otherwise posted on the website, all outdoor Amenities are open only from dawn until dusk. The specific, current hours of operation for several of the Amenities, which may be amended from time to time and which may be subject to closure for holidays and other special circumstances, are as published on the District’s website. No Patron or Guest is allowed in the service areas of the Amenities.
General Usage Guidelines. The following guidelines supplement specific provisions of the Amenity Policies and are generally applicable and shall govern the access and use of the Amenities:
Registration and Access Cards. Each Patron must scan in an Access Card in order to access the Amenities and must have his or her assigned Access Card in their possession and available for inspection upon District Staff’s request. Access Cards are only to be used by the Patron to whom they are issued.
Attire. With the exception of the pool and wet areas where bathing suits are permitted, Patrons and Guests must be properly attired with shirts and shoes to use the Amenities for each facility’s intended use. Bathing suits and wet feet are not allowed indoors with the exception of the bathrooms appurtenant to the pool area.
Food and Drink. Food and drink will be limited to designated areas only. No glass containers of any type are permitted at any of the Amenities. All persons using any of the Amenities must keep the area clean by properly disposing of trash or debris.
Parking and Vehicles. Vehicles must be parked in designated areas. Vehicles should not be parked on grass lawns, or in any way which blocks the normal flow of traffic. During special events, alternative parking arrangements may be authorized but only as directed by District staff. Off-road bikes/vehicles (including ATV’s) and motorized scooters are prohibited on all property owned, maintained and operated by the District or at any of the Amenities within District unless they are owned by the District.
Fireworks. Fireworks of any kind are not permitted anywhere on District owned property or adjacent areas.
Skateboards, Etc. Bicycles, skateboards or rollerblades are not permitted on Amenity property which includes, but is not limited to, the amenity parking lot, pool area, open fields, playground area and sidewalks surrounding these areas.
Grills. Personal barbeque grills are not permitted at the Amenities or on any other District owned property.
Firearms. Firearms are not permitted in the Amenities unless the Patron is authorized to possess and carry a firearm under Florida law. Among other prohibitions, no firearms may be carried to any meeting of the District’s Board of Supervisors.
Equipment. All District equipment, furniture and other tangible property must be returned in good condition after use. Patrons and Guests are encouraged to notify District Staff if such items need repair, maintenance or cleaning.
Littering. Patrons and Guests are responsible for cleaning up after themselves and helping to keep the Amenities clean at all times.
Bounce Houses and Other Structures. The installation and use of bounce houses and similar apparatus is prohibited on District property. No exceptions will be made.
Excessive Noise. Excessive noise that will disturb other Patrons and Guests is not permitted, including but not limited to use of cellular phones and speakers of any kind that amplify sound.
Lost or Stolen Property. The District is not responsible for lost or stolen items. The Amenity Manager is not permitted to hold valuables or bags for Patrons or Guests. All found items should be turned in to the Amenity Manager for storage in the lost and found. Items will be stored in the lost and found for two weeks after which District Staff shall dispose of such items in such manner as determined in its sole discretion; provided, however, that District Staff shall not be permitted to keep such items personally or to give such items to a Patron not otherwise claiming ownership.
Trespassing / Loitering. There is no trespassing or loitering allowed at the Amenities. Any individual violating this policy may be reported to the local authorities.
Compliance with Laws and District Rules and Policies. All Patrons and Guests shall abide by and comply with all applicable federal, state and local laws, rules, regulations, ordinances and policies, as well as all District rules and policies, while present at or utilizing the Amenities, and shall ensure that any minor for whom they are responsible also complies with the same. Failure to abide by any of the foregoing may be a basis for suspension or termination of the Patron’s privileges to use or access the Amenities.
Courtesy. Patrons and their Guests shall treat all staff members and other Patrons and Guests with courtesy and respect. Disrespectful or abusive treatment of District Staff or its contractors may result in suspension or termination of Amenity access and usage privileges.
Emergencies. In the event of an injury, property damage or other emergency, please contact District Staff immediately in accordance with the terms of this policy contained herein.
False Alarms. Any Patron improperly attempting to enter the Amenity Facilities outside of regular operating hours or without the use of a valid Access Card and who thereby causes a security alert will be responsible for the full amount of any fee charged to the District in connection with such security alert and related response efforts.
SMOKING, DRUGS AND ALCOHOL
Smoking, including using any paraphernalia designed to consume tobacco or other substances such as vaping and electric and non-electronic devices, is prohibited anywhere inside the Amenity Facilities, including any building, or enclosed or fenced area to the maximum extent of the prohibitions set forth in the Florida Clean Indoor Air Act or other subsequent legislation. Additionally, to the extent not prohibited by law, smoking is discouraged in all other areas of the Amenities and on District owned property. All waste must be disposed of in the appropriate receptacles. Any violation of this policy shall be reported to District Staff.

Possession, use and/or consumption of illegal drugs or alcoholic beverages is prohibited at the Amenities and on all other District owned property. Any person that appears to be under the influence of drugs or alcohol will be asked to leave the Amenities. Violation of this policy may result in suspension or termination of Amenity access and usage privileges and illegal drug use may be punished to the maximum extent allowed by law.

SERVICE ANIMAL POLICY
Dogs or other pets (with the exception of “Service Animals” as defined by Florida law, trained to do work or perform tasks for an individual with a disability, including a physical, sensory, psychiatric, intellectual or other mental disability) are not permitted within any District-owned public accommodations including, but not limited to, Amenity buildings (offices, social halls and fitness center), pools, various sport courts and other appurtenances or related improvements. A Service Animal must be kept under the control of its handler by leash or harness, unless doing so interferes with the Service Animal’s work or tasks or the individual’s disability prevents doing so. The District may remove the Service Animal only under the following conditions:
If the Service Animal is out of control and the handler does not take effective measures to control it;
If the Service Animal is not housebroken; or,
If the Service Animal’s behavior poses a direct threat to the health and safety of others.
The District is prohibited from asking about the nature or extent of an individual’s disability to determine whether an animal is a Service Animal or pet. However, the District may ask whether an animal is a Service Animal required because of a disability and what work or tasks the animal has been trained to perform.
SWIMMING POOL POLICIES

Operating Hours. Swimming is permitted only during designated hours, as posted at the pool. Swimming after dusk is prohibited by the Florida Department of Health.
Swim at Your Own Risk. No Lifeguards will be on duty. All persons using the pool do so at their own risk and must abide by all swimming pool rules and policies.
Supervision of Minors. Minors fourteen (14) years of age or under must be accompanied by, and supervised by, an adult at least eighteen (18) years of age at all times for usage of the pool. All children five (5) years of age or younger, as well as all children who are unable to swim by themselves, must be supervised by a responsible individual eighteen (18) years of age or older, always within arm’s length when on the pool deck or in the pool. All children, regardless of age, using inflatable armbands (i.e., water wings) or any approved Coast Guard flotation device MUST be supervised one-on-one by an adult who is in the water and within arm’s length of the child.
Aquatic Toys and Recreational Equipment. No flotation devices are allowed in the pool except for water wings and swim rings used by small children, under the direct supervision of an adult as specified in Section (3) immediately above. Inflatable rafts, balls, pool floats and other toys and equipment are prohibited.
Prevention of Disease. All swimmers must shower before initially entering the pool. Persons with open cuts, wounds, sores or blisters, nasal or ear discharge may not use the pool. No person should use the pool with or suspected of having a communicable disease which could be transmitted through the use of the pool.
Attire. Appropriate swimming attire (swimsuits) must be worn at all times. No thongs or Brazilian bikinis are allowed. Wearing prohibited attire will result in immediate expulsion from the pool area.
Horseplay No jumping, pushing, running, wrestling, excessive splashing, sitting or standing on shoulders, spitting water, or other horseplay is allowed in the pool or on the pool deck area.
Diving. Diving is strictly prohibited at the pool. Back dives, back flips, back jumps, cannonball splashing or other dangerous actions are prohibited.
Weather. The pool and pool area will be closed during electrical storms or when rain makes it difficult to see any part of the pool or pool bottom clearly. The pool will be closed at the first sound of thunder or sighting of lightning and will remain closed for thirty (30) minutes after the last sighting. Everyone must leave the pool deck immediately upon hearing thunder or sighting lightning.
Pool Furniture; Reservation of Tables or Chairs. Tables and chairs may not be removed from the pool deck. Tables or chairs on the deck area may not be reserved by placing towels or personal belongings on them.
Entrances. Pool entrances must be kept clear at all times.
Pollution. No one shall pollute the pool. Anyone who does pollute the pool is liable for any costs incurred in treating and reopening the pool.
Swim Diapers. Children under the age of three (3) years, and anyone who is not reliably toilet trained, must wear rubber lined swim diapers, as well as a swimsuit over the swim diaper, to reduce the health risks associated with human waste contaminating the swimming pool and deck area. If contamination occurs, the pool will be shocked and closed for a period of at least twelve (12) hours. Persons not abiding by this policy shall be responsible for any costs incurred in treating and reopening the pool.
Staff Only. Only authorized staff members and contractors are allowed in the service and chemical storage areas. Only authorized staff members and contractors may operate pool equipment or use pool chemicals.
Pool Closure. In addition to Hillsborough County and the State of Florida health code standards for pools and pool facilities, and as noted above, the pool may be closed for the following reasons:
During severe weather conditions (heavy rain, lightning and thunder) and warnings, especially when visibility to the pool bottom is compromised (deck also closed).
For thirty (30) minutes following the last occurrence of thunder or lightning (deck also closed).
Operational and mechanical treatments or difficulties affecting pool water quality.
For a reasonable period following any mishap that resulted in contamination of pool water.
Any other reason deemed to be in the best interests of the District as determined by District staff.
Containers. No glass, breakable items, or alcoholic beverages are permitted in the pool area. No food or chewing gum is allowed in the pool.
No Private Rentals. The pool area is not available for rental for private events. All pool rules and limitations on authorized numbers of Guests remain in full affect during the rental of other Amenity areas.
Programming. District Staff reserves the right to authorize all programs and activities, including with regard to the number of guest participants, equipment, supplies, usage, etc., conducted at the pool, including swim lessons, aquatic/recreational programs and pool parties. Any organized activities taking place at the Amenity Center must first be approved by the District.
PLAYGROUND POLICIES

Use at Own Risk. Patrons and Guests may use the playgrounds and parks at their own risk and must comply with all posted signage.
Hours of Operation. Unless otherwise posted, all playground and park hours are from dawn to dusk.
Supervision of Children. Supervision by an adult eighteen (18) years and older is required for children fourteen (14) years of age or under. Children must always remain within the line of sight of the supervising adult. All children are expected to play cooperatively with other children.
Shoes. Proper footwear is required and no loose clothing especially with strings should be worn.
Mulch. The mulch material is necessary for reducing fall impact and for good drainage. It is not to be picked up, thrown, or kicked for any reason.
Food & Drink. No food, drinks or gum are permitted on the playground, but are permitted at the parks. Patrons and Guests are responsible for clean-up of any food or drinks brought by them to the parks.
Glass Containers. No glass containers are permitted.
LAKES AND PONDS POLICIES
Lakes and Ponds (used interchangeably and reference to one shall implicate the other) within the District primarily function as retention ponds to facilitate the District’s system for treatment and attenuation of stormwater run- off and overflow. As a result, contaminants may be present in the water. These policies are intended to limit contact with such contaminants and ensure the continued operations of the Ponds while allowing limited recreational use of the same.
Users of District Lakes shall not engage in any conduct or omission that violates any ordinance, resolution, law, permit requirement or regulation of any governmental entity relating to the District Lakes.
Wading and swimming in District Lakes are prohibited.
Patrons may fish from District Lakes. However, the District has a “catch and release” policy for all fish caught in these waters.
Pets are not allowed in the District Lakes.
Owners of property lying contiguous to the District Lakes shall take such actions as may be necessary to remove underbrush, weeds or unsightly growth from the Owner’s property that detract from the overall beauty, setting and safety of the property.
No docks or other structures, whether permanent or temporary, shall be constructed and placed in or around the District Lakes or other District stormwater management facilities unless properly permitted and approved by the District and other applicable governmental agencies.
No pipes, pumps or other devices used for irrigation or the withdrawal of water shall be placed in or around the District Lakes, except by the District.
No foreign materials may be disposed of in the District Lakes, including, but not limited to: tree branches, paint, cement, oils, soap suds, building materials, chemicals, fertilizers, or any other material that is not naturally occurring or which may be detrimental to the Lake environment.
Easements through residential backyards along the community's stormwater management system are for maintenance purposes only and are not general grants for access for fishing or any other recreational purpose. Access to residents' backyards via these maintenance easements is prohibited. Unless individual property owners explicitly grant permission for others to access their backyards, entering their private property can be considered trespassing. Please be considerate of the privacy rights of other residents.
Beware of wildlife - water moccasins and other snakes, alligators, snapping turtles, birds and other wildlife which may pose a threat to your safety are commonly found in stormwater management facilities in Florida. Wildlife may neither be removed from nor released into the District Lakes; notwithstanding the foregoing, nuisance alligators posing a threat to the health, safety and welfare may be removed by a properly permitted and licensed nuisance alligator trapper, in accordance with all applicable state and local laws, rules, ordinances and policies including but not limited to rules promulgated by the Florida Fish and Wildlife Conservation Commission (“FWC”). Anyone concerned about an alligator is encouraged to call FWC’s toll-free Nuisance Alligator Hotline at 866-FWC-GATOR (866-392-4286).
Any hazardous condition concerning the District Lakes must immediately be reported to the District Manager and the proper authorities.
SUSPENSION AND TERMINATION OF PRIVILEGES
General Policy. All persons using the Amenities and entering District property shall comply with the Amenity Policies established for the safe operations and maintenance of the District’s Amenities. District Staff must protect the rights and privileges of rule-abiding Patrons, and inappropriate behavior by Patrons or their Guests will not be tolerated.
Suspension of Access and Use Privileges. The District, through its Board, District Manager, Amenity Manager and District Counsel shall have the right to restrict, suspend or terminate the Amenity privileges of any person to use the Amenities for any of the following behavior:
Submits false information on any application for use of the Amenities;
Permits the unauthorized use of an Access Card;
Exhibits unsatisfactory behavior, deportment or appearance;
Fails to pay amounts owed to the District in a proper and timely manner;
Fails to abide by any District rules or policies (e.g., Amenity Policies);
Treats the District’s supervisors, staff, general/amenity management, contractors or other representatives, or other residents or guests, in an unreasonable or abusive manner;
Damages or destroys District property; or
Engages in conduct that is improper or likely to endanger the health, safety, or welfare of the District, or its supervisors, staff, amenities management, contractors or other representatives, or other residents or guests.
Authority of District Staff and Members of the Board of Supervisors. District Staff or their designee, and any member of the Board of Supervisors, may remove any person from one or all Amenities if any of the above-referenced behaviors are exhibited or actions committed or if in his/her reasonable discretion it is the District’s best interests to do so. District Staff may at any time restrict or suspend for cause or causes, including but not limited to those described above, any person’s privileges to use any or all of the Amenities until the next regularly scheduled meeting of the Board of Supervisors.
Process for Suspension or Termination of Access and Use Privileges. Subject to the rights of District Staff set forth in Paragraph (3) above, the following process shall govern suspension and termination of privileges:
Offenses:
First Offense: Verbal warning by District Staff and suspension from the Amenities for up to one (1) week from the commencement of the suspension. Violation is recorded by District Staff, signed by the individual offender(s), and held on file by the District.
Second Offense: Automatic suspension of all Amenity privileges for up to thirty (30) days from the commencement of the suspension, with the preparation by District Staff of a written report to be signed by the offender(s) and filed with the District.
Third Offense: Suspension of all Amenity privileges for up to one (1) year. Such suspension shall run to the next regular meeting of the Board of Supervisors. At said meeting, the record of all previous offenses will be presented to the Board for recommendation of termination of the offender(s) privileges for one (1) calendar year. The length of the suspension is in the discretion of the Board and may be for less than one (1) year.
Each offense shall expire one (1) year after such offense was committed, at which time the
number of offenses on record for such offender(s) shall be reduced by one. For example, if a first offense is committed on February 1 and a second offense on August 1, there will be two offenses on record until February 1 of the following year, at which time the first offense will expire and the second offense will thereafter be considered a first offense until it expires on the following August 1. The provisions of this Paragraph shall not at any time serve to reduce any suspensions or terminations, which may have been imposed prior to the expiration of any offenses
Notwithstanding the foregoing, any time a user of the Amenity is arrested for an act committed, or allegedly committed, while on the premises of the Amenity, or violates these Policies in a manner that, in the discretion of the District Staff upon consultation with one Board member, justifies suspension beyond the guidelines set forth above, such offender shall have all amenity privileges immediately suspended until the next Board of Supervisors meeting. At the Board meeting, the Board will be presented with the facts surrounding the arrest or violation and the Board may make a recommendation of suspension or termination of the offender’s privileges, which suspension or termination may include members of the offender’s Household and may, upon the first offense, equal to or exceed one year. Situations that pose a long term or continuing threat to the health, safety and welfare of the District and its residents and users, permanent termination of Amenity privileges may be warranted and considered.
Any suspension or termination of Amenity privileges may be appealed to the Board of Supervisors for reversal or reduction. The Board’s decision on appeal shall be final and binding.

Legal Action; Criminal Prosecution. If any person is found to have committed any of the infractions noted in Paragraph 2 above, such person may additionally be subject to arrest for trespassing or other applicable legal action, civil or criminal in nature.
USE AT OWN RISK; INDEMNIFICATION
Any Patron, Guest, or other person who participates in the Activities (as defined below), shall do so at his or her own risk, and said Patron, Guest or other person and any of his or her Guests and any members of his or her Household shall indemnify, defend, release, hold harmless and forever discharge the District and its present, former and future supervisors, staff, officers, employees, representatives, agents and contractors of each (together, “Indemnitees”), for any and all liability, claims, lawsuits, actions, suits or demands, whether known or unknown, in law or equity, by any individual of any age, or any corporation or other entity, for any and all loss, injury, damage, theft, real or personal property damage, expenses (including attorneys’ fees, costs and other expenses for investigation and defense and in connection with, among other proceedings, alternative dispute resolution, trial court and appellate proceedings), and harm of any kind or nature arising out of or in connection with his or her participation in the Activities, regardless of determination of who may be wholly or partially at fault.

Should any Patron, Guest, or other person bring suit against the Indemnitees in connection with the Activities or relating in any way to the Amenities, and fail to obtain judgment therein against the Indemnitees, said Patron, Guest, or other person shall be liable to the District for all attorneys’ fees, costs and other expenses for investigation and defense and in connection with, among other proceedings, alternative dispute resolution, trial court, and appellate proceedings.

The waiver of liability contained herein does not apply to any act of intentional, willful or wanton misconduct by the Indemnitees.

For purposes of this section, the term “Activities” shall mean the use of or acceptance of the use of the Amenities, or engagement in any contest, game, function, exercise, competition, sport, event or other activity operated, organized, arranged or sponsored by the District, its contractors or third parties authorized by the District.

SOVEREIGN IMMUNITY
Nothing herein shall constitute or be construed as a waiver of the Districts’ limitations on liability contained in Section 768.28, F.S., or other statutes or law.

SEVERABILITY
The invalidity or unenforceability of any one or more provisions of these policies shall not affect the validity or enforceability of the remaining provisions, or any part of the policies not held to be invalid or unenforceable.
AMENDMENTS AND WAIVERS
The Board in its sole discretion may amend these Amenity Policies from time to time. The Board by vote at a public meeting or the District Manager may elect in its/their sole discretion at any time to grant waivers to any of the provisions of these Amenity Policies, provided however that the Board is informed within a reasonable time of any such waivers.

The above Amenity Policies and Rates were adopted on 	, 2022 by the Board of Supervisors for the North Powerline Road Community Development District, at a duly noticed public hearing and meeting.

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Exhibit A:	Amenity Rates
Exhibit B:	Amenity Access Registration Form
EXHIBIT A AMENITY RATES

TYPE	RATE	
Annual User Fee	$2,500.00	
Replacement Access Card	$30.00	
EXHIBIT B
AMENITIES ACCESS REGISTRATION FORM
NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT AMENITIES ACCESS REGISTRATION FORM

NAME:

ADDRESS:

HOME TELEPHONE:	CELL PHONE:

EMAIL ADDRESS:

ADDITIONAL RESIDENT 1:	DOB IF UNDER 18

ADDITIONAL RESIDENT 2:	DOB IF UNDER 18

ADDITIONAL RESIDENT 3:	DOB IF UNDER 18

ADDITIONAL RESIDENT 4:	DOB IF UNDER 18

ADDITIONAL RESIDENT 5:	DOB IF UNDER 18

ACCEPTANCE:

I acknowledge receipt of the Access Card(s) for the above listed residents and that the above information is true and correct. I understand that I have willingly provided all the information requested above and that it may be used by the District for various purposes. I also understand that by providing this information that it may be accessed under public records laws. I also understand that I am financially responsible for any damages caused by me, my family members or my guests and the damages resulting from the loss or theft of my or my family members’ Access Card. It is understood that Access Cards are the property of the District and are non-transferable except in accordance with the District’s rules, policies and/or regulations, and any necessary replacement will be at an applicable Replacement Access Card fee. In consideration for the admittance of the above listed persons and their guests into the facilities owned and operated by the District, I agree to hold harmless and release the District, its supervisors, agents, officers, professional staff and employees from any and all liability for any injuries that might occur, whether such occurrence happens wholly or in part by me or my family members’ or guests’ fault, in conjunction with the use of any of the District’s Amenity Facilities (as defined in the District’s Amenity Policies & Rates), as well while on the District’s property. Nothing herein shall be considered as a waiver of the District’s sovereign immunity or limits of liability beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in Section
768.28 Florida Statutes or other statute.

Signature of Patron (Parent or Legal Guardian if Minor)	Date

AFFIDAVIT OF RESIDENCY: (REQUIRED IF LEGAL FORM OF PROOF OF RESIDENCY NOT PROVIDED)

I hereby state that the address listed above is the bona fide residence for all residents listed in this Amenities Access Registration Form and that such address is located within the North Powerline Road Community Development District. I acknowledge that a false statement in this affidavit may subject me to penalties for making a false statement pursuant to Section 837.06, Florida Statutes. I declare that I have read the foregoing and the facts alleged are true and correct to the best of my knowledge and belief.

Signature of Patron State of Florida
County of  	

The foregoing was acknowledged before me by means of ▢ physical presence or ▢ online notarization this 	day of 	, 20 , by
 	 who is [ ] personally known to me or [ ] produced 	as identification.
(NOTARY SEAL)

Official Notary Public Signature

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

 	 	

SECTION IX
PREPARED BY AND RETURN TO:

Roy Van Wyk, Esquire KE LAW GROUP, PLLC
P.O. Box 6386
Tallahassee, Florida 323314

Parcel Nos. 27-27-03-721523-000830, 27-27-03-721523-002730, 27-27-03-721523-002780
SPECIAL WARRANTY DEED

THIS	SPECIAL	WARRANTY	DEED	is	executed	as	of	this	 		day	of
 	, 2022, by JACKSTONE DEVELOPMENT LLC, a Florida limited liability company, with a mailing address of 346 E. Central Avenue, Winter Haven, Florida 33880 (hereinafter called the “grantor”), in favor of NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-purpose government, with a mailing address of 219 East Livingston Street, Orlando, Florida 32801 (hereinafter called the “grantee”).

[Wherever used herein, the terms “grantor” and “grantee” shall include the singular and plural, heirs, legal representatives, successors and assigns of individuals, and the successors and assigns of corporations, as the context requires.]

W I T N E S S E T H:

That the grantor, for and in consideration of the sum of $10.00 and other valuable considerations, receipt whereof is hereby acknowledged, hereby grants, bargains, sells, aliens, remises, releases, conveys and confirms unto the grantee, all that certain land situated in Polk County, Florida, further described as:

Lot 83, Tracts B-1, B-2 B-3 C-1 C-2 C-3, and C-4, together with the roads and rights-of- way described as FRIENDLY CONFINES ROAD, BERRY LANE, BASS CATCHER DRIVE, SWAN SWIM DRIVE, TREE SHADE DRIVE, EAST NORTH BOULEVARD, OSPREY PERCH ROAD, PERFECT LANE, AND HANDSOME HILL LANE, OF
BELLA VITA PHASE 1B-2 AND 2, according to the map or plat thereof as recorded in Plat Book 188, Pages 8-17, inclusive, of the Public Records of Polk County, Florida

Subject to restrictions, covenants, conditions and easements, of record; however, reference hereto shall not be deemed to reimpose same.

TOGETHER with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining.

TO HAVE AND TO HOLD, the same in fee simple forever.

AND the grantor hereby covenants with said grantee that the grantor is lawfully seized of said land in fee simple; that the grantor has good right and lawful authority to sell and convey said land; and hereby warrants the title to said land and will defend the same against the lawful claims of all persons or entities whomsoever claiming by, through or under grantor.

Grantor represents that grantor has complied with the requirements of Section 196.295, Florida Statutes.

Note to Recorder: This deed conveys unencumbered property to a local unit of special-purpose government for no taxable consideration. Accordingly, pursuant to Rule 12B-4.014, F.A.C., only minimal documentary stamp tax is being paid hereon.
IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of the day and year first written above.

GRANTOR:

Signed, sealed and delivered	JACKSTONE DEVELOPMENT LLC
in the presence of:	a Florida limited liability company

Print Name: 		By: Kevin Chinoy
Its: Manager

Print Name: 	

STATE OF FLORIDA COUNTY OF  	

SWORN TO AND SUBSCRIBED before me by means of ▢ physical presence or ▢ online
notarization   this 	day   of 	,   2022   Kevin   Chinoy,   on   behalf   of   JACKSTONE
DEVELOPMENT LLC, a Florida limited liability company.

(Official Notary Signature)
Name:  	
Personally Known  	
[notary seal]	OR Produced Identification  	
Type of Identification  	
ACCEPTANCE BY GRANTEE

By execution of this Special Warranty Deed, grantee does hereby accept this conveyance, subject to the foregoing covenants, conditions, and restrictions, and agrees that it and the Property are subject to all matters hereinabove set forth. Grantee further agrees to comply with all terms, covenants, conditions, and restrictions provided in this Special Warranty Deed.

Dated this 	day of 	, 2022.

Signed, sealed and delivered in the presence of:

Witnesses:

Name:  	
NORTH POWERLINE ROAD COMMUNITY
DEVELOPMENT DISTRICT, a local unit of special-purpose government established under Chapter 190 of the Florida Statutes

By:	 	
Chairperson/Vice Chairperson Board of Supervisors

Name:  	

STATE OF FLORIDA
COUNTY OF  	

The foregoing instrument was acknowledged before me by means of ▢ physical presence or ▢ online notarization this        day of 	, 2022, by 	as Chairperson/Vice Chairperson of the Board of Supervisors of the North Powerline Road Community Development District.

(Official Notary Signature)
Name:  	
Personally Known  	
[notary seal]	OR Produced Identification  	
Type of Identification  	
PREPARED BY AND RETURN TO:
Roy Van Wyk, Esquire KE Law Group, PLLC.
P.O. Box 6386 Tallahassee, Florida 32314

LIMITED LIABILITY COMPANY AFFIDAVIT FOR DEED

STATE OF FLORIDA COUNTY OF POLK

I, Kevin Chinoy (“Affiant”), on being duly sworn, state:

I am the Manager of JACKSTONE DEVELOPMENT LLC, a Florida limited liability company (the “Company”).

The management of the Company is vested in Affiant.

There has been no dissolution of the Company resulting from transfers of interests in the Company or otherwise. The Company has never been a debtor in a bankruptcy proceeding.

On behalf of the Company, I am authorized to transfer, convey, exchange, assign, mortgage or otherwise deal with or dispose of the property more particularly described on the attached Exhibit A (the “Property”) or any interests therein.

On behalf of the Company, I am authorized to execute, acknowledge and deliver instruments of any kind that are necessary, convenient or incidental to the transfer of any interest in real property owned or controlled by the Company.

On behalf of the Company, I acknowledge this affidavit may be relied upon by the North Powerline Road Community Development District (the “District”) for the purpose of acquiring the Property and specifically consent to such reliance by the District.

Affiant

SWORN TO AND SUBSCRIBED before me by means of ▢ physical presence or ▢ online
notarization this   	
DEVELOPMENT LLC.
day  of 	, 2022 by Kevin Chinoy, on behalf of JACKSTONE

(Official Notary Signature)
Name:  	
Personally Known  	
[notary seal]	OR Produced Identification  	
Type of Identification  	
Exhibit A
LEGAL DESCRIPTION OF PROPERTY

Lot 83, Tracts B-1, B-2 B-3 C-1 C-2 C-3, and C-4, together with the roads and rights-of- way described as FRIENDLY CONFINES ROAD, BERRY LANE, BASS CATCHER DRIVE, SWAN SWIM DRIVE, TREE SHADE DRIVE, EAST NORTH BOULEVARD, OSPREY PERCH ROAD, PERFECT LANE, AND HANDSOME HILL LANE, OF
BELLA VITA PHASE 1B-2 AND 2, according to the map or plat thereof as recorded in Plat Book 188, Pages 8-17, inclusive, of the Public Records of Polk County, Florida
AFFIDAVIT OF NON-FOREIGN STATUS
(FIRPTA)

STATE OF FLORIDA COUNTY OF POLK
BEFORE ME, the undersigned authority, personally appeared Kevin Chinoy (“Affiant”) who after first being duly sworn deposes and states as follows:
That Affiant understands and acknowledges that the United States Foreign Investment in Real Property Tax Act, as amended by the Tax Reform Act of 1984 (Section 1445 of the Internal Revenue Code) provides that a transferee (buyer) of a United States real property interest (as defined in Section 897(c) of the Internal Revenue Code) must withhold tax if the transferor is a foreign person.

That Affiant is Manager of JACKSTONE DEVELOPMENT LLC, a Florida limited liability company (the “Seller”), which Seller may be the owner of a United States real property interest (the “Property”) attached hereto as Exhibit A.
That Seller is not a foreign person (as that term is defined in the Internal Revenue Code and Income Tax Regulations).
The Seller’s address and United States taxpayer identifying number are as follows: Tax ID No.
JACKSTONE DEVELOPMENT LLC
346 E. Central Avenue
Winter Haven, Florida, 33880 [address associated with Tax ID]

Affiant understands that this affidavit may be disclosed to the Internal Revenue Service and that any false statement made herein could be punished by fine, imprisonment, or both.

Under penalties of perjury, Affiant declares that he or she has examined the affidavit, and to the best of his knowledge and belief, it is true, correct, and complete.

[Signatures on next page]
FURTHER AFFIANT SAYETH NOT.

JACKSTONE DEVELOPMENT LLC
a Florida limited liability company

By: Kevin Chinoy
Its: Manager

SWORN TO AND SUBSCRIBED before me by means of ▢ physical presence or ▢ online notarization this 	day of 	, 2022 by Kevin Chinoy, on behalf of JACKSTONE DEVELOPMENT LLC, a Florida limited liability company.

(Official Notary Signature)
Name:  	
Personally Known  	
[notary seal]	OR Produced Identification  	
Type of Identification  	
Exhibit A
Lot 83, Tracts B-1, B-2 B-3 C-1 C-2 C-3, and C-4, together with the roads and rights-of- way described as FRIENDLY CONFINES ROAD, BERRY LANE, BASS CATCHER DRIVE, SWAN SWIM DRIVE, TREE SHADE DRIVE, EAST NORTH BOULEVARD, OSPREY PERCH ROAD, PERFECT LANE, AND HANDSOME HILL LANE, OF
BELLA VITA PHASE 1B-2 AND 2, according to the map or plat thereof as recorded in Plat Book 188, Pages 8-17, inclusive, of the Public Records of Polk County, Florida
BILL OF SALE
KNOW ALL MEN BY THESE PRESENTS, that JACKSTONE DEVELOPMENT
LLC, a Florida limited liability company, with a mailing address of 346 E. Central Avenue, Winter Haven, Florida 33880 (the “Seller”), and in consideration of the sum of Ten Dollars ($10.00) and other valuable consideration, to it paid by the NORTH POWERLINE ROAD COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-purpose government organized under Chapter 190, Florida Statutes, with a mailing address of c/o Jill Burns, Governmental Management Services – Central Florida, LLC, 219 East Livingston Street, Orlando, Florida 32801 (the “District”), the receipt whereof is hereby acknowledged, has granted, bargained, sold, transferred and delivered, and by these presents does grant, bargain, sell, transfer, and deliver unto the District, its successors and assigns, the following described property, assets and rights, to-wit:

Lot 83, Tracts B-1, B-2 B-3 C-1 C-2 C-3, and C-4, together with the roads and rights-of- way described as FRIENDLY CONFINES ROAD, BERRY LANE, BASS CATCHER DRIVE, SWAN SWIM DRIVE, TREE SHADE DRIVE, EAST NORTH BOULEVARD, OSPREY PERCH ROAD, PERFECT LANE, AND HANDSOME HILL LANE, OF
BELLA VITA PHASE 1B-2 AND 2, according to the map or plat thereof as recorded in Plat Book 188, Pages 8-17, inclusive, of the Public Records of Polk County, Florida

TO HAVE AND TO HOLD all of the foregoing unto the District, its successors and assigns, for its own use forever, free and clear and discharged of and from any and all obligations, claims or liens.

AND the Seller does hereby covenant to and with the District, its successors and assigns, that it is the lawful owner of the above-described real property and assets; that said real property and assets are free from all liens and encumbrances; that Seller has good right to sell said real property and assets; that all contractors, subcontractors and materialmen furnishing labor or materials relative to the construction of the real property and assets have been paid in full; and that Seller will warrant and defend the sale of its said real property and assets hereby made, unto the District, its successors and assigns, against the lawful claims and demands of all persons whosoever.

IN WITNESS WHEREOF, the Seller has caused this Bill of Sale to be executed as of the day and year first written above.

[Signatures Contained on Following Page]
SELLER:

Signed, sealed and delivered	JACKSTONE DEVELOPMENT LLC
in the presence of:	a Florida limited liability company

Print Name: 		By: Kevin Chinoy
Its: Manager

Print Name: 	

STATE OF FLORIDA COUNTY OF  	

SWORN TO AND SUBSCRIBED before me by means of ▢ physical presence or ▢ online
notarization  this 	day  of 	,   2022   by   Kevin   Chinoy,   Manager   of JACKSTONE
DEVELOPMENT LLC, a Florida limited liability company.

(Official Notary Signature)
Name:  	
Personally Known  	
[notary seal]	OR Produced Identification  	
Type of Identification  	
OWNER’S AFFIDAVIT

STATE OF FLORIDA COUNTY OF POLK

BEFORE ME, the undersigned authority, personally appeared Kevin Chinoy, (“Affiant”) as Manager of JACKSTONE DEVELOPMENT LLC, a Florida limited liability company (the “Company” or “Owner”), with a principal address of 346 E. Central Avenue, Winter Haven, Florida 33880, who after first being duly sworn deposes and states as follows:

That Affiant knows of his own knowledge that JACKSTONE DEVELOPMENT LLC is the owner of the fee simple title in and to certain lands located in Polk County, Florida described as follows:

Lot 83, Tracts B-1, B-2 B-3 C-1 C-2 C-3, and C-4, together with the roads and rights-of- way described as FRIENDLY CONFINES ROAD, BERRY LANE, BASS CATCHER DRIVE, SWAN SWIM DRIVE, TREE SHADE DRIVE, EAST NORTH BOULEVARD, OSPREY PERCH ROAD, PERFECT LANE, AND HANDSOME HILL LANE, OF
BELLA VITA PHASE 1B-2 AND 2, according to the map or plat thereof as recorded in Plat Book 188, Pages 8-17, inclusive, of the Public Records of Polk County, Florida
That the above-described land together with all improvements thereon (“Property”) is free and clear of all liens, taxes, encumbrances and claims of every kind, nature and description whatsoever.

Affiant knows of no facts by reason of which the title to, or possession of, the Property might be disputed or questioned, or by reason of which any claim to any part of the Property might be asserted adversely.

That there are no mechanic’s or materialman’s or laborer’s liens against the above- described Property, nor any part thereof, and that no contractor, subcontractor, laborer or materialman, engineer, land engineer, or surveyor has any lien against said Property, or any part thereof.

That within the past ninety (90) days, the Owner has not made any improvements, alterations or repairs to the above described Property for which costs thereof remain unpaid, and that within the past ninety (90) days there have been no claims for labor or material furnished for repairing or improving the same at the instance of the Owner which remain unpaid.

That no proceedings in bankruptcy or receivership have ever been instituted by or against the Owner, nor has Owner ever made an assignment for the benefit of its creditors.

Affiant knows of no action or proceeding relating to the Property, which is now pending in any state or federal court in the United States affecting the Property, nor does Affiant know of any state or federal judgment or any federal lien of any kind or nature that now constitutes a lien or charge upon the Property.
Affiant knows of no unrecorded easements, liens, or assessments for sanitary sewers, streets, roadways, paving, other public utilities or improvements against the Property, nor are there any special assessments or taxes which are not shown as existing liens by the public records.

Affiant further states that he is familiar with the nature of an oath and with the penalties as provided by the laws of the State of Florida for falsely swearing to statements made in an instrument of this nature. Affiant further certifies that he has read the full facts set forth in this Affidavit and understands its content and context to be correct in all respects.

FURTHER AFFIANT SAYETH NOT.

JACKSTONE DEVELOPMENT LLC
a Florida limited liability company

By: Kevin Chinoy
Its: Manager

SWORN TO AND SUBSCRIBED before me by means of ▢ physical presence or ▢ online notarization  this          day of 	, 2022 by Kevin Chinoy, on behalf of JACKSTONE DEVELOPMENT LLC, a Florida limited liability company.

(Official Notary Signature)
Name:  	
Personally Known  	
[notary seal]	OR Produced Identification  	

SECTION X

Item will be provided under separate cover.

SECTION XI

S ECTl-"ON·C
North Powerline Road CDD
Field Management Report

February 23rd, 2022 Clayton Smith
Field Services Manager GMS

North Powerline Road CDD Field Management Report | GMS 2022

Pool vendor has begun services and computer system was installed.
Pool furniture has arrived.
Gathered security camera plan and proposal.

North Powerline Road CDD Field Management Report | GMS 2022

Monitoring plants that were damaged by the cold.
Coordinating with landscaper for replacement proposal after plants flush out in spring. Early replacement risks losing new plants to another cold weather front.
Finalizing contract amendment for new phase.

Aquatics vendor has treated algae.
Mitered end in pond 2 was repaired.

Preparing for amenity opening.
Finalizing keycard system and remote access.
Coordinating signage Confirming lift model. Getting additional battery.
Coordinating Vendor start dates.

Monitoring sod gaps

S	ECTION 1
Proposal

PO BOX 450132
Kissimmee, FL 34745 - 0132
(407) 290-5911

Proposal #
3026	Customer #
PROJ-0175	System Type
AUDIO/VIDEO	PO Number
3 CAMERA	Term
Due on Receipt	Proposal Date
February 02, 2022	

Customer:	Site Location:
NORTH POWERLINE ROAD CDD 6200 LEE VISTA BOULEVARD ORLANDO, FL 32822
NORTH POWERLINE ROAD CDD 6200 LEE VISTA BOULEVARD ORLANDO, FL 32822

Contact Information:	
Customer
Contact NORTH POWERLINE ROAD CDD
Phone:
Email: MTINDALL@GMSCFL.COM
Salesperson
Name: ANGIE HELFAND
Phone:
Email: angie.helfand@swsprotection.com	Brief Description:	
3 CAMERA PROPOSAL. 60% DEPOSIT TO ORDER EQUIPMENT AND SCHEDULE.			
Charges				
Description	QTY	Rate	Amount	
INSTALLATION / IT SET UP HOURS	4.00	120.00	480.00	
CAT6 RUNS	3.00	120.00	360.00	
180 DEGREE CAMERA	1.00	1,876.00	1,876.00	
IP DOME 5MP CAMERA	2.00	279.50	559.00	
UPS BATTERY BACK UP	1.00	199.00	199.00	
AV SHELF	1.00	89.00	89.00	
4 CHANNEL NVR	1.00	749.00	749.00	
Total Charges:	4,312.00
Sales Tax: 	0.00

Notes
Grand Total:
$4,312.00

x
Agreed To By

Name

CONTACT US

Date
Billing Questions
(407) 290-5911	Sales	Central Station	Service	Email
BILLING@SWSPROTECTION.COM	
To view this proposal online, please visit: https://www.southeastwiring.alarmbiller.com | Registration Key: FDAD3B					
Proposal

PO BOX 450132
Kissimmee, FL 34745 - 0132
(407) 290-5911

Proposal #
3027	Customer #
PROJ-0175	System Type
AUDIO/VIDEO	PO Number
5 CAMERA	Term
Due on Receipt	Proposal Date
February 02, 2022	

Customer:	Site Location:
NORTH POWERLINE ROAD CDD 6200 LEE VISTA BOULEVARD ORLANDO, FL 32822
NORTH POWERLINE ROAD CDD 6200 LEE VISTA BOULEVARD ORLANDO, FL 32822

Contact Information:	
Customer
Contact NORTH POWERLINE ROAD CDD
Phone:
Email: MTINDALL@GMSCFL.COM
Salesperson
Name: ANGIE HELFAND
Phone:
Email: angie.helfand@swsprotection.com	Brief Description:	
5 CAMERA PROPOSAL. 60% DEPOSIT TO ORDER EQUIPMENT AND SCHEDULE.			
Charges				
Description	QTY	Rate	Amount	
INSTALLATION / IT SET UP HOURS	4.00	120.00	480.00	
CAT6 RUNS	5.00	120.00	600.00	
LABOR TO BURY CABLE	6.00	120.00	720.00	
180 DEGREE CAMERA	1.00	1,876.00	1,876.00	
IP DOME 5MP CAMERA	4.00	279.50	1,118.00	
UPS BATTERY BACK UP	1.00	199.00	199.00	
AV SHELF	1.00	89.00	89.00	
8 CHANNEL NVR 2TB	1.00	899.00	899.00	
Total Charges:	5,981.00
Sales Tax: 	0.00

Notes
Grand Total:
$5,981.00

x
Agreed To By

Name

CONTACT US

Date
Billing Questions
(407) 290-5911	Sales	Central Station	Service	Email
BILLING@SWSPROTECTION.COM	
To view this proposal online, please visit: https://www.southeastwiring.alarmbiller.com | Registration Key: FDAD3B					
North Powerline Road CDD: Cameras

SECTION D

S ECTION 1
North Powerline Road
Community Development District
Summary of Checks

January 12, 2022 to February 11, 2022

Bank	Date	Check No.'s	Amount		

General Fund	1/17/22	
266 - 268	
$	
6,335.09	
1/25/22	269	$	1,889.17	
1/28/22	270	$	5,519.11	
1/31/22	271 - 276	$	3,322.53	
2/7/22	277	$	4,367.10	
2/9/22	278 - 279	$	8,605.08	

S ECTION 2	-

North Powerline Road
Community Development District

Unaudited Financial Reporting
January 31, 2022

Table of Contents

1	 	Balance Sheet	

2-3	
 	General Fund	

4	
 	Series 2020 Debt Service Fund 	

5	
 	Series 2020 Capital Projects Fund	

6-7	
 	Month to Month	

8	
 	Long Term Debt Summary	

9	
 	Assessment Receipt Schedule	
North Powerline Road
Community Development District Combined Balance Sheet
January 31, 2022

Assets:
Cash:
Operating Account Capital Projects Account
Investments:

$	168,017	$
$	-	$

-	$	-	$
-	$	1,000	$

168,017
1,000

Series 2020		
Reserve	$	-	$	356,900	$	-	$	356,900	
Revenue	$	-	$	419,695	$	-	$	419,695	
Construction - Phase 1	$	-	$	-	$	76,084	$	76,084	
Construction - Phase 2	$	-	$	-	$	178,075	$	178,075	
Due from Developer	$	49,367	$	-	$	-	$	49,367	
Due from General Fund	$	-	$	15,997	$	-	$	15,997	
Prepaid Expenses	$	1,010	$	-	$	-	$	1,010	

Liabilities:
Accounts Payable	$	8,408	$	-	$	-	$	8,408			
Due to Debt Service	$	15,997	$	-	$	-	$	15,997			
Retainage Payable	$	-	$	-	$	249,881	$	249,881		
Total Liabilites	$	24,404	$	-	$	249,881	$	274,285		
Fund Balance:
Nonspendable: Prepaid Items	

$	1,010	

$	-	$	-	

$	1,010		
Restricted for:					
Debt Service - Series 2020	$	-	$	792,592	$	-	$	792,592				
Capital Projects - Series 2020	$	-	$	-	$	5,278	$	5,278				
Unassigned	$	192,979	$	-	$	-	$	192,979				
Total Fund Balances	$	193,989	$	792,592	$	5,278	$	991,859	
					
Total Liabilities & Fund Balance	$	218,393	$	792,592	$	255,159	$	1,266,144	
North Powerline Road
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending January 31, 2022

Adopted	Prorated Budget	Actual		
Budget	Thru 01/31/22	Thru 01/31/22	Variance	

Revenues:					
Assessments - Tax Roll	$	194,089	$	43,865	$	43,865	$	-	
Assessments - Direct Bill	$	240,341	$	-	$	-	$	-	
Assessments - Lot Closings	$	-	$	-	$	178,299	$	178,299	
Boundary Amendment Contributions	$	-	$	-	$	7,281	$	7,281	
Interest	$	-	$	-	$	3	$	3	
Total Revenues	$	434,430	$	43,865	$	229,448	$	185,583	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	4,000	$	2,800	$	1,200	
Engineering	$	20,000	$	6,667	$	353	$	6,314	
Attorney	$	30,000	$	10,000	$	4,892	$	5,108	
Annual Audit	$	5,500	$	-	$	-	$	-	
Assessment Administration	$	5,000	$	5,000	$	5,000	$	-	
Arbitrage	$	1,350	$	450	$	450	$	-	
Dissemination	$	7,000	$	1,667	$	1,667	$	-	
Trustee Fees	$	10,650	$	3,030	$	3,030	$	-	
Management Fees	$	36,050	$	12,017	$	12,017	$	(0)	
Information Technology	$	1,800	$	600	$	550	$	50	
Website Maintenance	$	1,200	$	400	$	450	$	(50)	
Telephone	$	300	$	100	$	-	$	100	
Postage & Delivery	$	1,000	$	333	$	191	$	142	
Insurance	$	6,000	$	6,000	$	5,570	$	430	
Printing & Binding	$	1,000	$	333	$	13	$	321	
Legal Advertising	$	10,000	$	3,333	$	1,983	$	1,350	
Other Current Charges	$	5,000	$	1,667	$	154	$	1,512	
Boundary Amendment Expenses	$	-	$	-	$	7,281	$	(7,281)	
Office Supplies	$	625	$	208	$	11	$	197	
Travel Per Diem	$	660	$	220	$	-	$	220	
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-	
Total General & Administrative	$	155,310	$	56,200	$	46,587	$	9,614	
North Powerline Road
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending January 31, 2022

Adopted	Prorated Budget	Actual		
Budget	Thru 01/31/22	Thru 01/31/22	Variance	

Operations & Maintenance

Field Expenditures					
Property Insurance	$	5,000	$	5,000	$	-	$	5,000	
Field Management	$	15,000	$	5,000	$	2,500	$	2,500	
Landscape Maintenance	$	80,000	$	26,667	$	6,968	$	19,699	
Landscape Replacement	$	5,000	$	1,667	$	-	$	1,667	
Lake Maintenance	$	12,000	$	4,000	$	-	$	4,000	
Streetlights	$	48,000	$	16,000	$	6,817	$	9,183	
Electric	$	3,600	$	1,200	$	3,183	$	(1,983)	
Water & Sewer	$	2,400	$	800	$	-	$	800	
Sidewalk & Asphalt Maintenance	$	2,500	$	833	$	-	$	833	
Irrigation Repairs	$	5,000	$	1,667	$	-	$	1,667	
General Repairs & Maintenance	$	5,000	$	1,667	$	-	$	1,667	
Contingency	$	7,500	$	2,500	$	-	$	2,500	
Subtotal Field Expenditures	$	191,000	$	67,000	$	19,467	$	47,533	

Amenity Expenditures
Amenity - Electric	

$	14,400	

$	4,800	

$	-	

$	4,800	
Amenity - Water	$	3,500	$	1,167	$	324	$	843	
Playground Lease	$	14,000	$	4,667	$	-	$	4,667	
Internet	$	3,000	$	1,000	$	-	$	1,000	
Pest Control	$	720	$	240	$	-	$	240	
Janitorial Services	$	8,500	$	2,833	$	-	$	2,833	
Security Services	$	7,500	$	2,500	$	2,000	$	500	
Pool Maintenance	$	18,000	$	6,000	$	-	$	6,000	
Amenity Access Management	$	5,000	$	1,667	$	-	$	1,667	
Amenity Repairs & Maintenance	$	1,000	$	333	$	-	$	333	
Contingency	$	7,500	$	2,500	$	-	$	2,500	
Subtotal Amenity Expenditures	$	83,120	$	27,707	$	2,324	$	25,383	
					
Total Operations & Maintenance	$	274,120	$	94,707	$	21,791	$	72,915	
					
Total Expenditures	$	429,430	$	150,907	$	68,378	$	82,529	
					
Excess (Deficiency) of Revenues over Expenditures	$	5,000		$	161,070		

Other Financing Sources/(Uses):					
Transfer In/(Out)	$	(5,000)	$	-	$	-	$	-	
Total Other Financing Sources/(Uses)	$	(5,000)	$	-	$	-	$	-	
					
Net Change in Fund Balance	$	-		$	161,070		
					
Fund Balance - Beginning	$	-		$	32,919		
					
Fund Balance - Ending	$	-		$	193,989		

3
North Powerline Road
Community Development District Debt Service Fund Series 2020
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending January 31, 2022

Adopted	Prorated Budget	Actual		
Budget	Thru 01/31/22	Thru 01/31/22	Variance	

Revenues:					
Assessments - Tax Roll	$	357,687	$	80,840	$	80,840	$	-	
Assessments - Direct Bill	$	356,049	$	-	$	-	$	-	
Assessments - Lot Closings	$	-	$	-	$	354,839	$	354,839	
Interest	$	-	$	-	$	17	$	17	
Total Revenues	$	713,735	$	80,840	$	435,696	$	354,856	

Expenditures:					
Interest - 11/1	$	232,922	$	232,922	$	232,922	$	-	
Principal - 5/1	$	250,000	$	-	$	-	$	-	
Interest - 5/1	$	232,922	$	-	$	-	$	-	
Total Expenditures	$	715,844	$	232,922	$	232,922	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	(2,108)		$	202,774		

Other Financing Sources/(Uses):					
Transfer In/(Out)	$	-	$	-	$	(356,896)	$	(356,896)	
Total Other Financing Sources/(Uses)	$	-	$	-	$	(356,896)	$	(356,896)	
					
Net Change in Fund Balance	$	(2,108)		$	(154,122)		
					
Fund Balance - Beginning	$	232,926		$	946,714		
					
Fund Balance - Ending	$	230,818		$	792,592		
North Powerline Road
Community Development District Capital Projects Fund Series 2020
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending January 31, 2022

Adopted	Prorated Budget	Actual		
Budget	Thru 01/31/22	Thru 01/31/22	Variance	

Revenues			
Developer Contributions	$	-	$	-	$	1,898,234	$	1,898,234	
Total Revenues	$	-	$	-	$	1,898,234	$	1,898,234	

Expenditures:			
Capital Outlay - Phase 1	$	-	$	-	$	847,048	$	(847,048)	
Capital Outlay - Phase 2	$	-	$	-	$	1,131,919	$	(1,131,919)	
Total Expenditures	$	-	$	-	$	1,978,967	$	(1,978,967)	
			
Excess (Deficiency) of Revenues over Expenditures	$	-	$	(80,733)		

Other Financing Sources/(Uses)			
Transfer In/(Out)	$	-	$	-	$	356,896	$	356,896	
Total Other Financing Sources (Uses)	$	-	$	-	$	356,896	$	356,896	
			
Net Change in Fund Balance	$	-	$	276,163		
			
Fund Balance - Beginning	$	-	$	(270,885)		
			
Fund Balance - Ending	$	-	$	5,278		
North Powerline Road
Community Development District Month to Month

Revenues:

Assessments - Tax Roll

$	-	$

666 $

40,510 $

2,690 $

-	$	-	$

-	$	-	$

-	$	-	$	-	$

-	$	43,865

Assessments - Direct Bill	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Assessments - Lot Closings	$	-	$	105,269	$	-	$	73,030	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	178,299	
Boundary Amendment Contributions	$	-	$	2,914	$	-	$	4,367	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	7,281	
Interest	$	1	$	0	$	1	$	1	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	3	
Total Revenues	$	1	$	108,848	$	40,511	$	80,088	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	229,448	

Expenditures:						
General & Administrative:						
Supervisor Fees	$	600	$	600	$	800	$	800	$	-    $	-    $	-    $	-    $	-    $	-    $	-    $	-    $	2,800	
Engineering	$	118	$	118	$	118	$	-	$	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-     $	353	
Attorney	$	927	$	2,325	$	1,641	$	-	$	-    $	-    $	-    $	-    $	-    $	-    $	-    $	-    $	4,892	
Annual Audit	$	-	$	-	$	-	$	-	$	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	-    $	-    $	-    $	-    $	-    $	-    $	-    $	-    $	5,000	
Arbitrage	$	-	$	-	$	450	$	-	$	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-     $	450	
Dissemination	$	417	$	417	$	417	$	417	$	-    $	-    $	-    $	-    $	-    $	-    $	-    $	-    $	1,667	
Trustee Fees	$	-	$	-	$	-	$	3,030	$	-    $	-    $	-    $	-    $	-    $	-    $	-    $	-    $	3,030	
Management Fees	$	3,004	$	3,004	$	3,004	$	3,004	$	-    $	-    $	-    $	-    $	-    $	-    $	-    $	-    $	12,017	
Information Technology	$	150	$	100	$	150	$	150	$	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-     $	550	
Website Maintenance	$	100	$	150	$	100	$	100	$	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-     $	450	
Telephone	$	-	$	-	$	-	$	-	$	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-	
Postage & Delivery	$	29	$	31	$	60	$	71	$	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-     $	191	
Insurance	$	5,570	$	-	$	-	$	-	$	-    $	-    $	-    $	-    $	-    $	-    $	-    $	-    $	5,570	
Printing & Binding	$	4	$	7	$	1	$	1	$	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-     $	13	
Legal Advertising	$	1,178	$	805	$	-	$	-	$	-    $	-    $	-    $	-    $	-    $	-    $	-    $	-    $	1,983	
Other Current Charges	$	33	$	39	$	41	$	41	$	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-     $	154	
Boundary Amendment Expenses	$	2,436	$	2,914	$	1,931	$	-	$	-    $	-    $	-    $	-    $	-    $	-    $	-    $	-    $	7,281	
Office Supplies	$	3	$	3	$	3	$	3	$	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-     $	11	
Travel Per Diem	$	-	$	-	$	-	$	-	$	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-	
Dues, Licenses & Subscriptions	$	175	$	-	$	-	$	-	$	-     $	-     $	-     $	-     $	-     $	-     $	-     $	-     $	175	
Total General & Administrative	$	19,744	$	10,511	$	8,715	$	7,617	$	-    $	-    $	-    $	-    $	-    $	-    $	-    $	-    $	46,587	
North Powerline Road
Community Development District Month to Month

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total	

Operations & Maintenance

Field Expenditures
Property Insurance	$	-    $	-    $	-    $	- $	

- $	

- $	

- $	

- $	

- $	

- $	

- $	

-     $	-	
Field Management	$	625    $	625    $	625    $	625 $	- $	- $	- $	- $	- $	- $	- $	-    $	2,500	
Landscape Maintenance	$	1,300     $	1,889     $	1,889     $	1,889 $	- $	- $	- $	- $	- $	- $	- $	-    $	6,968	
Landscape Replacement	$	-    $	-    $	-    $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Lake Maintenance	$	-    $	-    $	-    $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Streetlights	$	-    $	-    $	-    $	6,817 $	- $	- $	- $	- $	- $	- $	- $	-    $	6,817	
Electric	$	-    $	-    $	-    $	3,183 $	- $	- $	- $	- $	- $	- $	- $	-    $	3,183	
Water & Sewer	$	-     $	-     $	-     $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Sidewalk & Asphalt Maintenance	$	-     $	-     $	-     $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Irrigation Repairs	$	-    $	-    $	-    $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
General  Repairs & Maintenance	$	-     $	-     $	-     $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Contingency	$	-     $	-     $	-     $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Subtotal Field Expenditures	$	1,925     $	2,514     $	2,514     $	12,514 $	- $	- $	- $	- $	- $	- $	- $	-    $	19,467	

Amenity Expenditures
Amenity - Electric	$	-    $	-    $	-    $	- $	

- $	

- $	

- $	

- $	

- $	

- $	

- $	

-     $	-	
Amenity - Water	$	-    $	-    $	324    $	- $	- $	- $	- $	- $	- $	- $	- $	-    $	324	
Playground Lease	$	-    $	-    $	-    $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Internet	$	-     $	-     $	-     $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Pest Control	$	-    $	-    $	-    $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Janitorial Services	$	-    $	-    $	-    $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Security Services	$	-    $	-    $	-    $	2,000 $	- $	- $	- $	- $	- $	- $	- $	-    $	2,000	
Pool Maintenance	$	-    $	-    $	-    $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Amenity Access Management	$	-    $	-    $	-    $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Amenity Repairs & Maintenance	$	-     $	-     $	-     $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Contingency	$	-     $	-     $	-     $	- $	- $	- $	- $	- $	- $	- $	- $	-     $	-	
Subtotal Amenity Expenditures	$	-    $	-    $	324     $	2,000 $	- $	- $	- $	- $	- $	- $	- $	-    $	2,324	
									
Total Operations & Maintenance	$	1,925     $	2,514     $	2,838     $	14,514 $	- $	- $	- $	- $	- $	- $	- $	-    $	21,791	
									
Total Expenditures	$	21,669     $	13,025     $	11,553     $	22,131 $	- $	- $	- $	- $	- $	- $	- $	-    $	68,378	
									
Excess (Deficiency) of Revenues over Expenditures	$	(21,668)   $	95,823    $	28,959    $	57,957 $	- $	- $	- $	- $	- $	- $	- $	-    $	161,070	

Other Financing Sources/Uses:

Transfer In/(Out)

$	-     $	- $

-     $	- $

-     $	-     $	-     $	- $

-     $	-     $	- $

-     $	-

North Powerline Road
Community Development District Long Term Debt Report

Series 2020, Special Assessment Revenue Bonds		
Maturity Date:	5/1/2051	
Reserve Fund Definition	50% Maximum Annual Debt Service	
Reserve Fund Requirement	$356,900	
Reserve Fund Balance	$356,900	
Bonds Outstanding - 12/14/20	$12,685,000	
Current Bonds Outstanding	$12,685,000	
North Powerline Road
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts Fiscal Year 2022

	Gross Assessments	$ 208,697.75	$	384,609.20	$	593,306.95						
	Net Assessments	$ 194,088.91	$	357,686.56	$	551,775.46						
ON ROLL ASSESSMENTS		
35.18%	
64.82%	
100.00%						

Date	
Distribution	
Gross Amount	
Discount/Penalty	
Commission	
Interest	
Net Receipts	
O&M Portion	Series 2020 Debt Service	
Total	

11/30/21	
ACH	
$2,011.21	
($80.43)	
($38.62)	
$0.00	
$1,892.16	
$665.57	
$1,226.59	
$1,892.16	
12/14/21	ACH	$102,571.71	($4,101.93)	($1,969.40)	$0.00	$96,500.38	$33,944.34	$62,556.04	$96,500.38	
12/17/21	ACH	$8,044.84	($321.72)	($154.46)	$0.00	$7,568.66	$2,662.30	$4,906.36	$7,568.66	
12/27/21	1% Fee Adj	($5,933.07)	$0.00	$0.00	$0.00	($5,933.07)	($2,086.98)	($3,846.09)	($5,933.07)	
12/31/21	ACH	$18,100.89	($723.87)	($347.54)	$0.00	$17,029.48	$5,990.18	$11,039.30	$17,029.48	
01/18/22	ACH	$8,044.84	($241.36)	($156.07)	$0.00	$7,647.41	$2,690.00	$4,957.41	$7,647.41	
	TOTAL	$	132,840.42	$	(5,469.31)	$	(2,666.09)	$	-	$	124,705.02	$	43,865.41	$	80,839.61	$	124,705.02	

DIRECT BILL ASSESSMENTS

CH DEV LLC 2022 - 01			
Net Assessments	
$535,005.35	
$178,956.56	
$356,048.79	
Date
Received	Due
Date	Check
Number	
Net Assessed	Amount
Received	Operations &
Maintenance	Series 2020
Debt Service	
	11/1/21		$267,502.67	*			
	2/1/22		$133,751.34	*			
	5/1/22		$133,751.34	*			
			$535,005.35	$0.00	$0.00	$0.00	

CH DEV LLC 2022-02			
Net Assessments	
$61,384.70	
$61,384.70	
Date
Received	Due
Date	Check
Number	
Net Assessed	Amount
Received	Operations &
Maintenance	
	11/1/21		$30,692.35	*		
	1/1/22		$15,346.18	*		
	5/1/22		$15,346.18	*		
			$61,384.71	$0.00	$0.00	

 *Amounts to be collected at lot closings