Reunion West Community Development District

Agenda September 13, 2018

Reunion West
Community Development District
135 W. Central Blvd., Suite 320, Orlando FL, 32801
Phone: 407-841-5524- Fax: 407-839-1526

September6,2018

Board of Supervisors Reunion West Community Development District

Dear Board Members:

The special meeting of the Board of Supervisors of the Reunion West Community Development District will be held Thursday, September 13, 2018 at 12:30 p.m. at the Heritage Crossing Community Center, 7715 Heritage Crossing Way, Reunion, FL. Following is the  advance agenda for the meeting:

Roll Call
Public Comment Period
Approval of the Minutes of the August 9,2018 Meeting
Approval of License Access Agreement for Driveway
Consideration of Resolution 2018-04 Authorizing Staff to File a Petition to Amend the Boundaries of the District
Consideration of Boundary Amendment Funding Agreement
Staff Reports
Attorney
Engineer
District Manager's Report
Action Iterns List
Approval of Check Register
Balance Sheet and Income Statement
Status of Direct Bill Assessments
Presentation of Arbitrage Rebate Calcula#on Report
Other Business
Supervisor's Requests
Next Meeting Date
Adjournment

The second order of business is the Public Comment Period where the public has an opportunity to be heard on propositions coming before the Board as reflected on the agenda, and any other items.

The third order of business is the approval of the minutes of the August 9, 2018 meeting. The minutes are enclosed for your review.

The fourth order of business is the approval of license agreement for driveway construction. A copy of the agreement will be provided under separate cover.

The fifth order of business is the consideration of Resolution 2018-04 authorizing staff to file a petition to amend the District's boundaries. A copy of the Resolution is enclosed for  your review.
The sixth order of business is the consideration of  the budget amendment funding agreement.  A copy of the agreement is enclosed for your review.
The seventh order of business is Staff Reports. Section 1 of the District Manager's Report is the presentation and discussion of the action items list. A copy of the list is enclosed for  your review. Section 2 includes the check register for approval and Section 3 includes the balance sheet and income statement for review. Section 4 is the discussion of the status of the direct bill assessment collections. A table with the direct bill information is enclosed for your review. Section 5 is the presentation of the arbitrage rebate calculation report for the  Series 2015 bonds. A copy of the report is enclosed for your review.
The balance of the agenda will be discussed at the meeting. In the meantime, if you have any questions, please contact me.
Sincerely,

George S. Flint District Manager
Cc:	Jan Carpenter, District Counsel Steve Boyd, District Engineer
Enclosures

MINUTES

MINUTES OF MEETING REUNION WEST
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Reunion West Community Development District was held Thursday, August 9, 2018 at 12:30 p.m. at the Heritage Crossing Community Center, 7715 Heritage Crossing Way, Reunion, Florida.

Present and constituting a quorum were:
John Chiste Mark Greenstein Jared Bouskila Peter Brown
Deborah Simmons
Also present were:
George Flint Andrew d'Adesky Steve Boyd
Alan Scheerer Clayton Smith Rob Stultz Josh Suriano

FIRST ORDER OF BUSINESS

Chairman by phone Vice Chairman Assistant Secretary
Assistant Secretary by phone Assistant Secretary

District Manager District Counsel
District Engineer by phone Operations Manager
GMS
Yellowstone Landscape Yellowstone Landscape

Roll Call

Mr. Flint called the meeting to order and called the roll.

SECOND ORDER OF BUSINESS	Public Comment Period
There being none, the next item followed.

THIRD ORDER OF BUSINESS	Approval of the Minutes of the June 14, 2018
Meeting

On MOTION by Mr. Greenstein seconded by Mr. Bouskila with all in favor the minutes of the June 14, 2018 meeting were approved as presented.

August 9, 2018	Reunion West CDD

FOURTH ORDER OF BUSINESS	Public Hearing
Consideration of Resolution 2018-02 Adopting the Fiscal Year 2019 Budget and Relating to the Annual Appropriations
Mr. Flint: Next are two public hearings, the first one is to consider the adoption of the
Fiscal Year 2019 budget and you have Resolution 2018-02 doing that and the other public hearing is a public hearing to consider imposing the assessments associated with the adopted budget, which is Resolution 2018-03.
We will go ahead and open the public hearing. Is there any public comment on the proposed budget for Fiscal Year 2019 or the Resolution?
There are copies of the budget in the back and it was also posted on the website previously. The Board approved what is called a proposed budget back in the spring, they are required to do that before June 15th of each year and that budget is sent to Osceola County at least 60 days in advance of the public hearing to consider its final adoption, which is today. The proposed budget as it stands right now does not contemplate any change in the per unit assessment amounts, they remain the same, for example for a single-family home the per unit assessment is $471.06 and that would remain in place for Fiscal Year 2019. As the balance of Reunion West builds out we will need to relook at the per unit assessment amounts because the original planned number of units and how it is actually developing are different, the densities are lower so that is going to cause some pressure on the per unit amounts because you are dividing by a smaller number. We will need to relook at that in the following year as we get more information. We are using some carry forward to balance the budget about $110,000. The District does have a healthy fund balance in reserves to be able to do that but again that is something that will need to be looked at next fiscal year.  The other thing. that is putting pressure on the District's expenses is the cost share agreement between Reunion East and Reunion West. That cost share agreement is based on the number of platted lots so as more lots get platted in West those costs are being shifted so that percentage a few years ago was 70% East and 30% West and it has been changing and the percentage for West has been getting higher and the percentage for East has been getting lower as lots have been platted in the West. For Fiscal Year 2019 the percentage is 56% East and 44% West. The per unit amount in this budget is remaining the same with the caveat that it is possible and likely going into Fiscal Year 2020 that there will need to be some adjustment.

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August 9, 2018	Reunion West CDD

As far as the major expenses for West their percentage is increasing of the total cost but the cost those percentages are applied to are remaining fairly flat. The landscape contract they have agreed to hold their price, which is the biggest single contract that the District has and most of the other expenses are remaining fairly level as well.
Mr. Greenstein: There is minimal increases in the administrative area.
Mr. Flint stated administrative budget increased a little over $1,000 and the maintenance budget has increased more but that is because of the cost sharing.
Is there any public comment on the budget? Hearing none, we will bring it back to the

Board.

items.

Is there any discussion or questions from the Board on the proposed budget?
Mr. Chiste: It looks reasonable to me based on the new allocation and the individual line

Mr. Greenstein: I agree. In reference to the resolution itself, there are blanks.
Mr. Flint: We don't fill in the blanks in advance of the public hearing in the event that

you make any changes to the budget but the blanks in the resolution will be filled in according to the budget that is adopted so if you adopt it in its existing format those number will be filled in based on this document.

On MOTION by Mr. Greenstein seconded by Mr. Bouskila with all in favor Resolution 2018-02 was approved.

Consideration of Resolution 2018-03 Imposing Special Assessments and Certifying an Assessment Roll
Mr. Flint: The next public hearing is to impose assessments related to the budget that
was just adopted so this resolution imposes the operating and maintenance assessment and allows us to certify the tax roll to the County for inclusion on the tax bill. There are two exhibits to this resolution and the first is the budget you just adopted and the second one is the assessment roll, which lists all the properties and the amounts that are assessed based on the budget that was adopted.
Is there any public comment on the resolution imposing assessments? This is imposing assessments at the same rate as the current year. Hearing no public comment, is there any Board discussion on the resolution? There being none,

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On MOTION by Mr. Greenstein seconded by Ms. Simmons with all in favor Resolution 2018-03 was approved.

Mr. Flint: We will close the public hearings and move on to the next item.

FIFTH ORDER OF BUSINESS	Consideration	of	Extension	of	the
Landscape/Grounds Maintenance Agreement with Yellowstone Landscape
Mr. Flint: The next item is extension ofthe landscape/grounds maintenance agreement
with Yellowstone Landscape. Yellowstone has agreed to hold their price and this extends the contract for an additional 12 months through September 30, 2019. All other aspects of the agreement remain the same and the termination provisions, etc. all remain the same. All this is doing is extending the term ofthe contract.

On MOTION by Mr. Greenstein seconded by Ms. Simmons with all in favor the 12-month extension of the landscape/grounds maintenance agreement with Yellowstone Landscape was approved.

SIXTH ORDER OF BUSINESS	Consideration	of	Easement	Agreements
Related to Construction of Neighborhood Monuments
Mr. Flint:	Andrew has prepared the form of easements and this is related to the
monumentation that the Board has approved to be constructed in Reunion West. Some ofthose monuments are not on CDD property and as a result we either need to have a license agreement or easement agreement to be able to construct those and maintain those going forward.
Mr. d'Adesky: This is our standard form easement that we have used on the East. The back details the four parcels, which have been identified on which the property will be placed. The purpose of the easement is extremely limited it is just for signage and monumentation purposes only. The easement will terminate automatically ifwe were to remove the monuments. We just present it to the Resort for consideration and comment and hopefully, for approval.
Mr. Greenstein: Just as a bit ofbackground, Alan Scheerer and I went around the West side looking for the most appropriate areas to put the monuments. We staked them out. Have we received any feedback from anyone other than the folks we ran into when we were doing it?

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Mr. Scheerer: No.
Mr. Greenstein: It makes sense, they are visible and in some cases the signage will be on both sides ofthe monument for traffic going in either direction.
Mr. Scheerer: We did reach out to a secondary company to see if they would be interested in doing the monumentation and they said it is not within their schedule to try to fit that in with all the work they are doing.
Mr. Flint:	The Board has already approved doing this not to exceed $90,000 and the
POA will pay the difference. The POA has approved it, they are just waiting for us to send them an invoice.
Mr. Greenstein: The only other issue that surfaced that we didn't get a chance to talk about ahead of time is after we had designated the locations for the individual neighborhood monuments someone spoke to Alan about erecting a West side gate entrance sign similar to what we have in the front, which says Reunion Resort & Club.
Mr. Scheerer: We are checking as to whether or not it is feasible to put it in the small island right in front ofthe guardhouse and see ifit will fit in there and ifit can't fit that same size monument in there than maybe a skimmed down version of that but UCC Group hasn't gotten out here to survey that area and then we have to make sure the locates are not an issue in there.
Mr. Greenstein: I think we can proceed with what we are doing here because if the Master Association decides on the size of the sign, the location of the sign and the funding was to come from the Master Association then it is independent ofany action we take here.
Mr. Flint: The only thing we will be taking on would be the ongoing ownership and maintenance ofit. That would be minimal. The email indicated the POA had already approved some funding for it.
Mr. Scheerer: Yes, the Master actually agreed to instead of an additional $90,000 to cover any additional cost that may go into constructing the monuments that Mr. Greenstein was just referring to.
Mr. Flint: It sounds like they would pick up the full cost. Mr. Greenstein: It doesn't stop us from proceeding.

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August 9, 2018	Reunion West CDD

On MOTION by Mr. Greenstein seconded by Mr. Bouskila with all in favor the easement agreements related to the construction of neighborhood monuments were approved subject to correction of scrivener's errors.

SEVENTH ORDER OF BUSINESS	Ratification of Agreements with UCC Group
to Construct Neighborhood Monuments
Mr. d'Adesky: This is our standard form of contract, we use it for all our agreements, it
contains indemnities, public records provisions and attached to that would be the bid documents and the bid forms. George will attach those as an exhibit. Do you have the exact value on that?
Mr. Flint: It was previously approved. Mr. Scheerer: It was about $167,000.
Mr. Flint: We would attach the proposals that you have already approved to this agreement so this would be subject to scriveners errors and submitted to UCC Group to execute. Now that the Master Association has approved the matching money we can move forward with executing the agreement.

On MOTION by Mr. Greenstein seconded by Ms. Simmons with all in favor the agreements with UCC Group to construct neighborhood monuments was approved subject to scrivener's errors and joint funding with the Master Association.

EIGHTH ORDER OF BUSINESS
Attorney

Staff Reports

Mr. d'Adesky: We are moving ahead on the possible issuance of new bonds for Phase 4 Reunion West. The issue is in speaking with developer's Counsel, there are tracts on which we believe assessments have not been levied in the past. Therefore, we would probably need an assessment hearing and we recommend that in anticipation of having to have that hearing for those parcels that if possible we continue this meeting for two weeks such that we won't have to notice or call a special meeting to bring this up to declare an assessment hearing in order to allow us to begin that process. Our indication is that the developer would like to do this as quickly as possible.
Mr.  Flint:	We will need a Supplemental Engineer's Report and an Assessment
Methodology too, that is why he is suggesting two weeks. At the continued meeting you would

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August 9, 2018	Reunion West CDD

adopt two resolutions, one declaring assessments and the other one setting a public hearing to impose them and 30 days from then is when you would actually hold the hearing.
Mr. d'Adesky: There are three areas, two small platted areas that have 30 lots and there is one that has about 150 lots.
Mr. Flint: At the end of the meeting if the Board is amenable to that instead of adjourning, we will continue.

Engineer
Mr. Boyd: I will be working with the team on this next bond issue. Was the boundary amended for all the property west of 545 and south of Sinclair Road? My map that I'm working with is the old K-Hill Parcel but there is a gap between the K-Hill Parcel and S.R. 429/545 interchange but it was some land that was outside the District. I'm going to have to check and we may have to expand the boundary to include all of that subdivision.
Mr. d' Adesky: We are going to need to check on that.
Mr. Flint: The first thing we are going to have to do is verify that the property is within the District and then move forward with the assessment hearing. Amending the boundaries is not a quick process.
Mr. d' Adesky: That takes months with Osceola County. I will get back with Steve on the boundary.
Mr. Flint: Do you want to give an update on the signalization since that is a shared item?
Mr. Boyd: We have been challenged there in the contractor is struggling with a backlog problem of mast arm deliveries. The schedule they gave us that I reported to Reunion East last month was delivery ofthe mast arms around September 1st and completion of the signals around mid-October. We are still looking at those timeframes at this time.

Manager
Action Items List
Mr. Flint: We covered both items, the signalization and the monuments that were listed on the action items list.

Approval of Check Register

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August 9, 2018	Reunion West CDD

On MOTION by Mr. Greenstein seconded by Mr. Bouskila with all in favor the check registers for June and July were approved.

Balance Sheet and Income Statement
A copy ofthe balance sheet and income statement were included in the agenda package.

Status of Direct Bill Assessments
A copy ofthe direct bill assessment status report was included in the agenda package.

Approval of Fiscal Year 2019 Meeting Schedule

On MOTION by Mr. Greenstein seconded by Ms. Simmons with all in favor the Fiscal Year 2019 meeting schedule reflecting meetings on the second Thursday ofthe month at 12:30 p.m. at the Heritage Crossing Community Center was approved.

Field Manager's report
Mr. Scheerer: At the last Reunion East meeting we had a resident who was concerned about speeding throughout Reunion as a whole specifically on Grand Traverse Parkway. I was directed to meet with him after that meeting, which I did and he is here today. His son has worked for Grainger for quite some time and is relocating and he came up with the idea that he could get us a good sign that would reflect the speed of vehicles traveling down the road. The actual sign he suggested was a SafePace 600 15-inch digital sign, solar powered. Unfortunately, he son left Grainger but I reached out to the manufacturer and for almost the exact same price they provided us a quote for a SafePace 600 15-inch variable message sign at $5,363.12. This particular sign in itself does a number ofthings. This particular sign if you sign up for the data package that goes along with it you can go up to the sign, download any information you want, make changes to the sign and there is another cost for a cloud based bundle that you can do remotely from your office, you can log in and change information on the sign, change the speed of the sign, the message from slow down to speeding to something similar to that. It was suggested that we look at approximately five locations within both East and West. On the West there are two locations on Grand Traverse, we also talked about on the East it was suggested that

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August 9, 2018	Reunion West CDD

we place one coming from West to East by the water park as you come over the bridge and it was suggested maybe something like Excitement Drive and Reunion Boulevard. We have the per unit price, we have the bundle package per unit if that is something the Board would be interested in doing. The other option was to come back with a lesser version of this one. You will also see a SafePace 100, 11-inch radar sign and the only difference in this sign and the 600 is the message is fixed, it specifically says, you are speeding. We can program the sign and put whatever the speed limit is, 25 as you come over the bridge and if we put 35 or 40 mph speed limit on that you can change that information. Again, it offers the same data package, which I think we would need so we can track some data and make the changes we need. The only difference is with this particular option you physically have to go to the unit, plug in your computer and download the data. If the Board thought it was reasonable for us to do a cloud based bundle then the number per device is located on that. We couldn't change the message but we could download speeding and change the speed limit if we had to. I don't think we will because it is going to be a fixed sign throughout Reunion. Some of the benefits of having the data information is you can take that information, download the speeders, how many vehicles came through and the average speed and maybe we could go to our security staff or law enforcement and say we have a problem, here is the information we have collected and that is available as well. The other thing is you can see if the signs are even effective. Are you changing the minds of people as they are driving through the community? Coming over the bridge we would hope to see that there is a big change there because when you are coming over at 35 and 40 and see the speed limit is 25 they are going to slow down. We want to make sure that wherever the signs are placed they are actually affecting the drivers' habits as far as speed enforcement goes.
We brought back two proposals and we are going to present the same proposals to East for consideration as well. We could add 5 or 6 or ifyou wanted to do a test we could just do a couple and see ifwe are making any headway with speed enforcement.
Mr. Greenstein: I think we have a few locations we are solid on and there are others that we will determine over time. No. 1 as Alan pointed out I think we are going to test this first, the number of locations will be determined, it should be treated as a shared expense between East and West because it is common good, people drive from East to West and West to East. I would like to propose that the West side will agree to treat it as a shared expense and leave it up to the

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August 9, 2018	Reunion West CDD

East Board to go through the details and make the decision on whether to be a test, how many units to buy and the West side locations will be included because it will be considered a shared expense. We won't look at it twice and have two separate contracts.
Mr. Chiste: I agree with that concept.
Mr. Scheerer: The 600 is a 15-inch display and the 100 is an 11-inch display.
Mr. Flint: Both ofthem will reflect speed and ifyou are exceeding the speed limit they will strobe.
Mr. Greenstein: Similar treatment since it is kind ofa package we are doing another item
not on the agenda but going to be discussed at the East meeting would be transition from a Prox card but basically from swiping a card versus an RFID reader. In other words, having a transponder in the vehicle so a resident can just drive past, get close to it and the gate automatically goes up. They don't have to maintain cards. We are going to be looking at that in detail at the East side and this is a shared expense item, we agree to share the expense for this and if the West will basically let the East Board look at the issue and take the lead on the issue then that is what I recommend on that one.
Mr. Chiste: Are those HOA costs or CDD costs?
Mr. Flint: The CDD owns the roads, they own the guardhouse and through an agreement with the HOA the HOA is staffing the security, but we pay a portion of that cost. I would see it as a CDD expense. We don't know what those numbers are yet so out of fairness on that issue you may want to bring it back at the next meeting because we don't have an order ofmagnitude for West to understand what the impact is going to be on their budget.
Mr. Greenstein: Even though we have a detailed proposal concerning the radar signs I would still come back on the West for a ratification approach on the speed limit signs and we can do the same with the transponder system everi ifit is a shared cost.
Mr. Chiste: Do you have any idea ofthe cost on the transponder system?
Mr. Greenstein: I was given $28,000 and that included four or five gates. We may have to look at the fifth gate because it is not an access gate it is internal to the Resort, but we only have one bid and I immediately indicated that we have to get another one. It should be in the
$25,000 range.
Mr. Chiste: I agree with Mark's concept of let's move these both through on the East side and let's bring it back here for ratification.

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August 9, 2018	Reunion West COD

On MOTION by Mr. Chiste seconded by Mr. Greenstein with all in favor staff was directed to present the bids for the radar signs and transponders to the East side and ifapproved bring them back to the West side for ratification.

NINTH ORDER OF BUSINESS	Other Business
There being none, the next item followed.

TENTH ORDER OF BUSINESS	Supervisors Requests
There being none, the next item followed.

ELEVENTH ORDER OF BUSINESS	Next Meeting Date
Mr. Flint: We are going to continue this meeting for two weeks.
Mr. d' Adesky: If it turns out that we can confirm that we need an expansion we will call off the meeting in two weeks. We have to expand before you have an assessment hearing.

On MOTION by Mr. Greenstein seconded by Mr. Bouskila with all in favor the meeting was continued to August 23, 2018 at 1 2:30
p.m. in the same location.

Secretary/Assistant Secretary	Chairman/Vice Chairman

11 

SECTION IV

This item will be provided under separate cover

SECTION V

RESOLUTION 2018 - 04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE REUNION WEST COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING A PETITION BE FILED WITH THE BOARD OF COUNTY COMMISSIONERS OF OSCEOLA COUNTY PURSUANT TO SECTION 190.046, FLORIDA STATUTES, TO  EXPAND THE BOUNDARIES OF THE REUNION WEST COMMUNITY DEVELOPMENT DISTRICT; REQUESTING THAT THE BOARD OF COUNTY COMMISSIONERS OF OSCEOLA COUNTY ADOPT AN ORDINANCE AMENDING THE DISTRICT BOUNDARIES OF THE REUNION WEST COMMUNITY DEVELOPMENT DISTRICT; DIRECTING DISTRICT STAFF TO TAKE APPROPRIATE ACTION TO FILE THE PETITION AND DO ALL THINGS NECESSARY TO EXPAND THE BOUNDARIES OF THE REUNION WEST COMMUNITY DEVELOPMENT DISTRICT; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE.
RECITALS:
WHEREAS, the Reunion West 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"), and was created by Ordinance Number O 1-32 of the County Commission of Osceola County, Florida (the "County"), enacted in September 24, 2001 and effective on October 3, 2001 and expanded by Ordinance Number 05-27 of the County Commission, effective on July 18, 2005; and

WHEREAS, the District is located wholly within the boundaries of Osceola County, Florida; and

WHEREAS, Citicommunities, LLC, a Florida limited liability company (the "Developer") is a developer within the District; and

WHEREAS, the Developer is fee simple property owner of certain real property generally described/depicted in Exhibit "A" attached hereto (the "Expansion Property"), which property is situated adjacent to the existing District boundaries; and

WHEREAS, the Developer has requested, via written communication to the District, that the Expansion Property be included within the boundaries of the District; and

WHEREAS, subject to the conditions contained herein, the District's Board of Supervisors finds it to be in the best interest of the District that its boundaries be expanded pursuant to § 190.046, Florida Statutes (the "Statute") in order to include the Expansion Property; and

Resolution 2018-04 Authorizing Petition to Expand District Boundaries Reunion West CDD

WHEREAS, the District desires to authorize and direct the District Manager and District Counsel, inter alia, to prepare the necessary Petition to expand the boundaries of the District (the "Petition") to the County in order to comply with the applicable provisions of Chapter 1 90, Florida Statutes, for the effective expansion of the boundaries of the District as contemplated herein; and
WHEREAS, the District's Board of Supervisors desires that the C ounty adopt a non­ emergency ordinance to provide for the expansion of the boundaries ofthe District in accordance with the Statute and as contemplated herein.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE REUNION WEST COMMUNITY DEVELOPMENT DISTRICT:
SECTION 1. INCORPORATION OF RECITALS. All of the representations, findings, and determinations contained within the above Recitals of this Resolution are recognized as true and accurate, and are expressly incorporated into this Resolution.
SECTION 2. AUTHORIZATION FOR PETITION.  Subject  to  the  District's  receipt of an executed agreement between the Di.strict and Developer committing Developer to pay for any and all reasonabl foes and co t incurred by the Di trict in a ociation with the boundary expan ion contemplated herein (regardl of whether such boundary expansion is succe sful), the District hereby authorize the Petition be filed with the County p ur. uant to Section 1 90.046, Florida Stawte , to expand tbe boundari · of the Reunion West Community Development District to jn Jud the Expansion P roperty depicted/de cribed in Exhibit 'A" attached hereto.
SECTION 3. REQUEST FOR ACTION. The District hereby requests, and such request shall be repeated in the Petition, that the County adopt a non-emergency ordinance in accordance with Chapter 190, Florida Statutes, providing for the expansion of the boundaries of the Reunion West Community Development District in the manner and to the extent reflected in Exhibit "A" attached hereto.
SECTION 4. DIRECTION TO DISTRICT STAFF. The District Manager, District Counsel, District Engineer, and any other District staff deemed necessary, are hereby authorized and directed by the Board to: (i) prepare and file the Petition in a timely manner, (ii) work with all necessary parties to transmit this Resolution to the County along with the Petition to expand the boundaries of the Reunion West Community Development District as contemplated herein, and (iii) take all appropriate actions and make all necessary filings to effectuate the expansion of the boundaries of the District consistent with the terms of this Resolution and applicable law.
SECTION 5. RATIFICATION OF PAST ACTIONS. The District hereby ratifies all past actions taken by the District Manager, District Counsel, District Engineer and any other District staff as reasonable or necessary to the preparation of this Resolution, the Petition, or any other associated documentation, including, but not limited to exhibits, memoranda, letters, emails and other communications.
SECTION 5. SEVERABILITY. Should any court of competent jurisdiction find or hold any one or more provisions of this Resolution to be invalid or unenforceable, then such

Resolution 201 8-04 Authorizing Petition to Expand District Boundaries Reunion West CDD

provision or provisions, as the case may be, shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.
SECTION 6. EFFECTIVE DATE. This Resolution shall take effect immediately upon the passage and adoption of this Resolution by the Board of Supervisors of the Reunion West Community Development District.
[Signaturepage tofollowJ

Resolution 201 8-04 Authorizing Petition to Expand District Boundaries Reunion West CDD

SIGNATURE PAGE TO RESOLUTION 2018 - 04

PASSED AND ADOPTED this 13th day of September 2018.

ATTEST:

x_	 	   	
Secretary/Asst. Secretary

Resolution 2018-04 Authorizing Petition to Expand District Boundaries Reunion West CDD

BOARD OF SUPERVISORS OF
THE REUNION WEST COMMUNITY DEVELOPMENT DISTRICT

By:  	
Chairman/Vice-Chairman

EXHIBIT "A"
EXPANSION PROPERTY

[ATTACHED BELOW]

Resolution 2018-04 Authorizing Petition to ExJJand Dish-ict Boundaries Reunion West CDD

..._ ......,

KPM FRANKLIN

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Glil.. tlCIIIIJII - IND ._

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BOUNDARY SURVEY REUNION WEST - PHASE 4

SECTION VI

FUNDING AGREEMENT BETWEEN
REUNION WEST COMMUNITY DEVELOPMENT DISTRICT AND DEVELOPER
THIS FUNDING AGREEMENT (this "Agreement") is made and effective this 13th day of September 201 8, by and between REUNION WEST COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, being situated in Osceola County, Florida, (the "District") and CITICOMMUNITIES, LLC, a Florida limited liability company, located at 1 061 Nash Drive, Celebration, Florida 34747 (hereinafter the "Developer" and, together with the District, the "Parties").

RECITALS
WHEREAS, the Reunion West Community Development District (the "District") is a local unit of special-purpose government established pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes (the "Act"); The District was created by the Board of County Commissioners of Osceola County Ordinance No. 01 -32 enacted on September 24, 2001 and effective on October 3, 2001 and its boundaries were subsequently modified by the Board of County Commissioners ofOsceola County Ordinance No. 05-27 enacted on July 18, 2005 and effective on July 22, 2005; and
WHEREAS, the Developer has acquired certain undeveloped lands adjacent to but currently outside the boundary of the District, known as the K Hill Tract 39 Parcel, which the Developer desires to have included within the boundary of the District (hereinafter "Expansion Property"); and
WHEREAS, the District requires that the Developer to enter into a funding agreement to pay for all engineering, legal, administrative andother costs related to the expansion ofthe District boundary and the filing of a petition to expand with the Board of County Commissioners of Osceola County (hereinafter "the Petition"); and
WHEREAS, Developer and the District desire to enter into this Agreement to provide the District such funding relating to the Expansion Property and the filing of the Petition; and
NOW THEREFORE, based upon good and valuable consideration and the mutual covenants of the Parties, the receipt of which and sufficiency of which are hereby acknowledged, the Parties agree as follows:
Incorporation of Recitals. The recitals stated above are true and correct and by this reference are incorporated herein as a material part of this Agreement.
Provision of Funds. Developer agrees to make available to the District such monies as are necessary to proceed with the filing ofthe Petition and all other related work related to the Expansion Property as follows:

1

REUNION WEST COD / CITICOMMUNITIES LLC
Funding Agreement Boundary Expansion 2018 

Developer agrees to provide to the Districtany such monies upon receipt of an invoice from the District requesting such funds, as invoiced pursuant to an agreement or engagement letter approved by the District. Such funds, and all future funds provided pursuant to this Agreement, may be supplied by check, cash, wire transfer or other form ofpayment deemed satisfactory in the sole discretion of the District as determined by the District Manager. Developer authorizes the District to direct District staff, including the District Engineer, District Manager and other professional assistance as may be necessary, to proceed with the work contemplated by this Agreement.
Developer and the District agree that all fees, costs or other expenses incurred by the District for the services of the District Engineer, District Manager, District Counsel or other professionals for the work contemplated by this Agreement shall be paid solely from the funds provided by Developer pursuant to this Agreement. Such payments shall be made in accordance with the District's normal invoice and payment procedures. The District agrees that any funds provided by Developer pursuant to this Agreement shall be used solely for fees, costs, and expenses arising from or related to the work contemplated by this Agreement.
Developer agrees to provide funds within fourteen (14) days of receipt of written notification from the District Manager ofthe need for such funds.
In the event the Developer fails to provide any such funds pursuant to this Agreement, Developer and the District agree the work may be halted until such time as sufficient funds are provided by Developer to ensure payment of the costs, fees or expenses which may be incurred in the performance of such work. The District may, in its discretion, place a lien on property (requiring payment as additional assessments) in the District owned by Developer, if such funds are not paid within ninety (90) days of the demand therefor.
Termination. Any of the Parties hereto may terminate this Agreement without cause by providing ten (10) days' written notice of termination. Any such termination by Developer is contingent upon Developer's provision of sufficient funds to cover any and all fees, costs or expenses incurred by the District in connection with the work to be performed under this Agreement as ofthe date by when notice of termination is received.
Default. A default by any party under this Agreement shall entitle the other party to all remedies available at law or in equity, which may include, but not be limited to, the right of damages.
Enforcement of Agreement. In the event that any of the Parties is required to enforce this Agreement by court proceedings or otherwise, then the prevailing party shall be

2

REUNION WEST CDD / CITICOMMUNITIES LLC
Funding Agreement Boundary Expansion 2018

entitled to recover all fees and costs incurred, including reasonable attorney's fees and costs for trial, alternative dispute resolution, or appellate proceedings.
Agreement. This instrument shall constitute the final and complete expression of this Agreement between the Parties relating to the subj ect matter ofthis Agreement.
Amendments. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by all of the Parties hereto.
Authorization. The execution of this Agreement has been duly authorized by the appropriate body or official ofall Parties hereto, each party has complied with all the requirements of law, and each party has full power and authority to comply with the terms and provisions ofthis instrument.
Notices. All notices, requests, consents and other communications hereunder ("Notices") shall be in writing and shall be delivered, mailed by First Class Maii, postage prepaid, or overnight delivery service, to the parties, as follows:

If to the District:

With a copy to:

If to Developer:

Reunion West Community Development District 135 W. Central Boulevard, Suite 320
Orlando, Florida
Attention: District Manager
Latham, Shuker, Eden & Beaudine, LLP 111 N. Magnolia Avenue, Suite 1400
Orlando, Florida 3280 1
Attention: Jan Albanese Carpenter, Esq.
Citicommunities, LLC 1061 Nash Drive
Celebration, Florida 34747 Attention: James J. Bagley

Except as otherwise provided herein, any Notice shall be deemed received only upon actual delivery at the address set forth herein. Notices delivered after 5 :00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non-business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for the Parties may deliver Notice on behalf of the Parties. Any party or other person to whom Notices are to be sent or copied may notify the other Parties and addressees of any change in name or address to which Notices shall be sent by providing the same on five (5) days' written notice to the Parties and addressees set forth herein.

3

REUNION WEST CDD / CITICOMMUNITIES LLC
Funding Agreement BoW1dary Expansion 2018

Third Partv Beneficiaries. This Agreement is solely for the benefit of the formal Parties hereto and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or entity other than the Parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions  hereof;  and  all  the  provisions,  representations,  covenants  and  conditions  herein contained shall inure to the sole benefit of and shall be binding upon the Parties hereto and their respective representatives, successors and assigns.

Assignment. None ofthe parties hereto may assign this Agreement or any monies to become due hereunder without the prior written approval of the other parties. Any purported assignment without such prior written approval shall be void.

Controlling Law; Venue. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws ofthe State of Florida. Venue for any action arising hereunder shall be in a court of appropriate jurisdiction in Osceola County, Florida.

Effective Date. The Agreement shall be effective after execution by all Parties hereto and shall remain in effect unless terminated by any of the Parties hereto.

Sovereign Immunity. Nothing contained herein shall cause or be construed as a waiver of the District's sovereign immunity or limitations on liability granted pursuant to section 768.28, Florida Statutes, or other law, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which could otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law.

Public Records. The Developer understands and agrees that all documents of any kind provided to the District or to District Staff in connection with the work contemplated under this Agreement are public records and are treated as such in accordance with Florida law.

[COUNTERPART SIGNATURE PAGES TO FOLLOW)

4

REUNION WEST COD I CITICOMMUNITIES LLC
Funding Agreement Boundary Expansion 2018

COUNTERPART SIGNATURE PAGE FOR FUNDING AGREEMENT BETWEEN
REUNION WEST COMMUNITY DEVELOPMENT DISTRICT AND DEVELOPER
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as ofthe day and year first written above.

Attest:

Secretary/Asst. Secretary

DISTRICT:
REUNION WEST
COMMUNITY DEVELOPMENT DISTRICT

By: 	_	 	

Name: 		 	
Chairman ofthe Board of Supervisors

REUNION WEST CDD I CITICOMMUNITIES
Funding Agreement
2018 Boundary Expansion

S-1

COUNTERPART SIGNATURE PAGE FOR FUNDING AGREEMENT BETWEEN
REUNION WEST COMMUNITY DEVELOPMENT DISTRICT AND DEVELOPER
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as ofthe day and year first written above.

WITNESSES:

Print:_	 	__

Print: 		 	_

REUNION WEST COD / CITICOMMUNITIES
Funding Agreement
2018 Boundary Expansion

DEVELOPER:
CITICOMMUNITIES, LLC, a limited liability company

By: 	_	 	
Name:---	-------
Title:----	------

S-2

SECTION VII

S ECTl·ON C

SECTION 1

Reunion East
Meeting
Item # Assigned	Action Item	Assigned To:	Date Due	Status	Comments
Issue on Hold Pending CUP
1	3/14/1 1	I rrigation Turnover	Developer	On Hold	Negotiation
TCD Advised Mast Arm Estimated to be Delivered by 9/1 /1 8 and Signal
2	2/1 2/1 5	Signalization of Reunion Entrance	Boyd		In Process	Operational in Mid-October	
						Proposals from Yellowstone
presented at August meeting. Counsel to Send Demand Letters for	
3	3/1 6/1 7	Allocation of 532 Costs	Scheerer/d'Adesky		In Process	Costs to Each Parcel Owner.	
Amendment to MSA to Incorporate
Heritage Crossing Community	Updated Draft Agreement on
4	1/1 1/18	Center & Horse Stables	Resort/Flint	In Process September AQenda
Proposals Approved and Deposit

Date Due

Price New Rapid Arm Gates on Exit	Issued to Vendor. Arms estimated to
5	6/14/1 8	Side of Excitement Drive	Scheerer	In Process	be installed within 60 days.	
6	7/1 2/1 8	Replace SiQn at Sinclair Entrance	Scheerer	Completed		
			Reunion West			

Action Item

Meeting Item # Assigned

Signalization of Reunion Entrance

1	8/1 1/16 

Assigned To:

Boyd

Comments

In Process

Status

	Installation of Neighborhood		Agreeme	
2	1/1 1 /18 	Monuments	Scheerer	In Process	meeting.	

TCD Advised Mast Arm Estimated to be Delivered by 9/1 /1 8 and Signal Operational in Mid-October Easement agreements & UCC Group
nt approved at August

revised 9/6/2018

SECTION 2

Reunion West
Community Development District
Summary of Check Register
August 1, 2018 to August 31, 2018

Fund	Date	Check No.'s	Amount	
General Fund	8/3/18	1339	$	481.40	
	8/7/18	1340	$	6,784.21	
	8/9/18	1341-1343	$	1,571.95	
	8/ 14/18	1344-1345	$	816.34	
	8/21/ 18	1346-1347	$	883.43	
	8/28 / 18	1348	$	9,707.00	
			$	20,244.33	

Payroll	
August 2018			
Deborah Simmons	50400	$	159.70	
Jared Bouskila	50401	$	184.70	
John Chiste	50402	$	184.70	
Mark Greenstein	50403	$	184.70	
Peter Brown	50404	$	184.70	

$	898.50
$	21,142.83 j

AP30 0R	YEAR-TO-DATERAEUCCNOIOUNTWSEPSATY-AGEBNLERAPLREPFAUNID  COMPUTER  CHECK  REGISTER	RUN	9/06/18	PAGE	1

*** CHECK DATES 08/01/2018 - 08/3 1/ 2018 *** 

BANK A GENERAL FUND

CHDEACTKE    VEND#	• • D• A• T. EINVOINCVEO• I• C• E. .   . Y• R. EMXOPENDPSTEDATCOCT. #. . SUB	SUBCLASS  VENDOR  NAME

STATUS	AMOUNT

A. M. O• U• CNHTECK• • #• . • 

8/03/18 00043 

7/23/18 81876	20 1806 310-51300-31500 

*	481 .4 0

- - - - - - - - - - - - - - - - - -

-	COD MTG/REV. MIN/AGENDA	LATHAM, SHUKER, EDEN & BEAUDINE , LLP

- - -  - - -  - -  - -  - -4 -81 -. 4 -0   001339 

8/07/ 18 00020 

8/01/18 423	20 1808 310-51300-34000 
8/01/18   4M2A3NAGEMEN2T01F8E0E8S 3A1U0G- 1581300-35100 INFO TECHNOLOGY AUG18 

*	3, 582 .00
*	183 .33
*

8/01/18   4D2 3ISSEMINA2 0TI1O8N08FE3E1 0A-U5G1 31 080-3 1300 
8/01/18   4O2F3 FICE  SU2P0P1 8L0IE8 S310-513 00-5 1000 

708 .33
*	.21 
*

8/01/18   4P2O3 STAGE

FIELD MANAGEMENT AUG1 8

8/01/18   4C2O3 PIES

201808 310-51300-42000 
201808 310-51 300-42500 

7.1 9
*	. 15
*

8/09/18 00035 

8/09/18 00012 

8/09/18 00036 

8/01/18 424	201808 320 -5 3 00-12000 
GOVERNMENTAL MANAGEMENT SERVICES 7/31/18   1A7Q1U1A6T1 IC  P2L0A1 N8 T07MG3M0T0 -J1U3L1 01 08-101 00 

AQUATIC PLANT MGMT JUL1 8

7/3 1/18 1 71161	2 0 1 807 320 -538 0 0-47000 
APPLIED AQUATIC MANAGEMENT , INC .
8/03/18   1A7R2B12ITRAGE2 0S1E8R0 82 031 510-4 5/ 31 300/01 -8 31400 

DUKE ENERGY #54 5 1 2 2 9 3 01 

-  - - - -  -  - -  - -  -  - - - -  - - -GR-AU  &  ASSOCIATES 7/ 31/18  DUKE-DUK  2 0180 6   3 2 0 -538  0 -43000 
7/31/18 DUKE-DUK  20 1806 320-53800-43000 

2,3 03 .00
-  -  -  -  -  -  - -  - -  -6 -, 7-8 4-.2 -1   001340 
*	79 . 20
*	52 . 80
- - -  - - - -  -  - -  - -1 -32 -. 0-0   001341 
*	600 .00
-  -  -  - -  - -  - -  - - -6-0 0-.0-0  001342
*	178. 42
*	473 .3 6

7/31/18  TDOUHKOE-TEONHER2G0Y1 8#0 6432 01--5631 81 0601-43 100 

*	188 .1 7

- - - - - - - - - - - - - - - - - -

-	TOHO METER#490055 14 JUN18	REUNION RESORT

- -  -  - -  - - -  - - -  -8-39 -. 9 -5   001343 

*

591 . 34

8/14/18 00005 

7/23/18 3633075	201808 310-51300-48000 

- - - - -

- - - - - - - - - - - -

NOT- . -PUB . HEAR  FY18/19  BDGT    ORLANDO  SENTINEL

- - -  - -  - - - - -  - -5-91 -. 3-4   001344 

8/14/18 00058 

8/06/18 14 0 96	2 0 1 808 300- 13 100-10100 

2 . 5  HRS-CLEAN  BOTH  FOUNTN

8/06/18 14096	201808 320-53800-46200 
2.5 HRS-CLEAN BOTH FOUNTN LAKE FOUNTAINS & AERATION , INC.
REUW REUNION WEST	TVISCARRA

*	135 . 00
*	90 .00

225 . 00 001345 

BRAEUNNKIOANGWENEESRTA-LGENFEURNADL  FUND

A*P*3*0 C0RHECK  DATES  08/01/2018  -  08/31/20 1Y8EA* R* -*TO-DATE  ACCOUNTS  PAYABLE  PREPAID/COMPUTER  CHECK  REGISTER	RUN	9/06/18 

PAGE	2

CDHAECTKE    VEND#	• • D• A. T. EINVOIINCEVO• I• C•E••   • Y. R. MEXOPEDNPSTEDATCOCT. #. . SUB	SUBCLASS  VENDOR  NAME	STATUS

AMOUNT

A• M. O• U. NCTHECK • . #• • • 

8/2 1/18 00011 

8/21/18 00043 

8/14/18  6D-E2L7I5V-E3R6Y2 08 8/ 04 / 31 810-513 00-42000	*
- - - - - - - - - -  - -  - -  - - - -FE-DEX

CDD  MTG/AGDA/LRA  PARCEL

8/15/18  8 2 1 17	2018 0 7  310 -51300-31500	*
LATHAM, SHUKER, EDEN & BEAUDINE , LLP

29 . 94

853 .49 

29 .94 001346 

853 .4 9 001347 

8/28/18 00040 

8/27/18 7503 

201808 300-13100- 10100 

*	653 . 52

EGIS	INSURANCE ADVISORS ,	LLC .		9, 707 .00	001348 	
	TOTAL	FOR BANK A	20, 244 . 33			
	TOTAL	FOR REGISTER	20, 244 . 33			

8/27 /18 

FY19 PROPERTY INSURANCE

*	513 . 48

8/27/18 

7503 
FY19 
7503 
FY19 

PROP2E0R1 T8Y08 IN3S0U0RAN-1 5C5E00-10000 GEN2. L0I1A8 0B8/PU3B0 0L-IC1 5O5F0F0C-10000 

*	8,540 .00

REUW REUNION WEST	TVISCARRA

SECIION 3

Reunion West
Community Development District

Unaudited Financial Reporting July 31 , 201 8

Table of Contents

 	Balance Sheet

General Fund I ncome Statement

Replacement & Maintenance I ncome Statement

 	Debt Service Series 2004-1 Income Statement

Debt Service Series 2015 I ncome Statement

 	Debt Service Series 2016 I ncome Statement

 	Debt Service Series 2017 I ncome Statement

CapitaI Projects Series 2015 I ncome Statement

CapitaI Projects Series 2016 I ncome Statement

 	Capital Projects Series 2017 I ncome Statement

11-12 	Month to Month

13-14 	FY18 Assessment Receipt Schedule

COMBINED BALANCE SHEET

COMMUNRllYeuDnEVioELnOPWMEeNsTtDISTRICT July 31, 2018

General	&RMepaliancetemnaenncet

SDervebicte	Pcraopjeitcatls

(Memor2an0d18um Only)

CSTUASTTEODBYOACRDCOOUFNATDMINISTRATION	$1,240,090	$1,240,090

CASASSEHTS:

$1,0$192,,856401	$203,171	$1,2$22,,876102

SINEVREIESSTM20E0N4T-1S

$669,007	$669,007

Revsenuee	$595$,36802

$595$,36802

SEGReIEnSer2a0l 1R5edemption

$164,133	$164,133

Revsenveue	$142,969	$5	$142,9$659

CProenpsatryumcteinotn	$66	$66

Revservnuee	$36$53,,80283	$36$53,80283

SECRoIEnSstr2u0c1t6ion

$271,216	$271,216

SERReIEseSrv2e017

$35249,,896297

$322549,,892679

CProenpsatyrumcteinotn	$602	$60$02

IRnetveerensute

$31,95$01	$31,9$501

DUE FROM OTHER

DUCEosFtRoOf MIssRuaEnUcNeION EAST	$$347,,8260
TOTAL ASSETS	$1,064,521	$1,443,261	$2,829,685

$3$47,,82660
$5,338,140

UE	REUNI N EAST

LIACACOBILUITNITESS:PAYABLE DUE TO DEVELOPER

ASSIGNED

FFUUNNDD BEAaLuAaxNC·ES: U NASSIGNED

$19$42,70572	$41,100	$23$52,,830572

$673

$210,209

$2,883	$2,883

$25140,,327009	$1,402,161	$1,645042,317601

DREESFTERICTEDEDREFVOERNDUEEBT SERVICE 2004-1	$1$,320674,,190912

$1$,236047,,190921

ICT	DEBT SERVICE 2017

RESTRRIICCTTED FFOR DEEBT SSERVIICE 220156

$5

T	6      		 	

RESTRICTED FOR CAPITAL PROJECTS 201S RESTRICTED FOR CAPITAL PROJECTS 2017

$64160,,784467	$616,747

$$656

      $602  	 	$6$0662 

T&OTOATHL ELRIACBRILEITDIIETSS& FUND EQUITY

$1,064,521	$1,443,261	$2,829,686	$673	$S,338,140

COMMUNRITeYuDnEVt:ioIDnPWMEeNsTtDISTRICT

For The PeriodEndingJuly 31, 2018

Statement   ofGReenveeranul eFsun&dExpenditures

!!fil!:!lilll

ADOPTED	PRORATED BUDGET	ACTUAL
BUDGET	THRU 7/31/18	THRU 7/31/18	VARIANCE

Special Assessments -Tax Collector	$517,848	$517,848	$587,368	$69,519
Special Assessments • Direct	$536,999	$399,017	$448,416	$49,399

Miscellaneous Income	$15,353	$12,795	$2,840	($9,955)	
TOTAL REVENUES	$1,070,201	$929,660	$1,038,629	$108,969 1	
EXPENDITURESi					
AQMINJSTRATIVE'

Supervisor Fees	
$12,000	
$10,000	
$4,200	
$5,800	

Interest	$0

$5	$5

FICA

$765	$321	$444

Engineering	$8,000	$6,667	$1,389
Attomey	$17,000	$14,167

$8,819

$7,883

Trustee Fee	$21,000	$8,728	$8,728	$0
Dissemination	$7,500	$6,250	($1,633)
Arbitrage	$2,400	$0	$0	$0
Collection Agent	$7,500	$7,500	$7,500	so
Property Appraiser Fee	S500	$S00	S524	IS24)
Annual Audit	$S,100	$5,100	$6,100	($1,000)
Management Fees	$42,984	$35,820	$35,820	$0

Information Technology	$2,200	Sl,833

$833

Telephone	$300	S250
Postage	$1,000

$0

$235

$299

Printing & Binding	$1,600	$1,333	$312	$1,021
Insurance	$9ADD	$9AOO	$860

Other Current Charges

$292	$2

Legal Advertising	$1,500	$1,250	$0	$1,250
Office Suppties	$300	$250	$151	S99

$175

Travel Per Diem	$600	$500	$0	S500

Dues, Licenses & Subscriptions

$17S	$0

TOTALADMINISTRATIVE	$142,327	$111,613	$89,376	$22,237 1
Wltllf.tt&lg..StfaB'2f.4Wfil�i
Field Management	$27,636	$23,030	$23,030	$0
Facility U!ase Agreement	$21,042	$17,535	$13,621
Telephone	$3,200	$2,667	$2,258	$408
Electric	$232,000	$193,333	$146,602	$46,731
Water & Sewer	$30,000	$25,000	$21,177	S3,B23
Gas	$30,800	$25,667	$19,295	$6,372

$3,333

Pool and Fountain Maintenance	$70,000	$58,333	$60,129	($1,796)
Environmental	$4,000	$2,869	$464
Property Insurance	$17,400	$17A00	$16,610	$790
Irrigation Repairs	$5,000	$4,167	$5,905	($1,738)
Landscape Contract	$310,516	$258,763	$234A28	$24,335
Landscape Contingency	$15,530	$12,942	$11,549	$1,392

$5,053

Landscape Consulting	$15,600	$13,000	$19,867	($6,867)
G.ite and Gatehouse Expenses	$12,800	$10,667	$5,613
Roadways/Sidewalks	$18,560	$15,467	$72,052	($56,585)
Lighting	$3,200	$2,667	$3,075	IS408)
MSA Building Repairs	$16,000	$13,333	$18,539	($5,206)

$583

Pressure washing	$16,000	$13,333	$9,951	$3,382
Maintenance (Inspections)	$700	$387	$196
Pest Control	$290	$242	$0	$242
Signage	$1,600	$1,333	$6,754	l$5A21)
Security	$56,000	$46,667	$46,666	$1

f!i!.AINTf/i.8!/,CE-DIR{.'1,(&ff.fiH�i

Irrigation System Operations	$20,000	$16,667	$0	$16,667
Contingency	so	$0	$S	($5)
TOTAL    MAINTENANCE	$927,874	$776,128	$740,384	$35,745

TOTALEXPENDITURES	$1,070,201	$829,760

EXCESS  REVENUES !EXPENDITURES)	ISO)	$208,869
FUND BALANCE - Beginning	$0	$445,501

FUNDBALANCE- End"ing	($0)

2

Reunion West
COMMUNITY DEVELOPMENT DISTRICT

Replacement & Maintenance Fund Statement of Revenues & Expenditures ForThe Period Ending July 31, 2018

ADOPTED	PRORATED

REVENUES:		
Interest	$3,000	$2,500	$19,883		
TOTAL REVENUES	$3,000	$2,500	$19,883	$17,383 I	
EXPENDITURES:					
Contingency	$40,000	$0	$8,098	$25,235	
Building Improvements	$0	$0		($1,956)	
Signage	$0	$0	$0
$5,200	$0 ($1,200)	
Pool Furniture	$21,200	$11,936		

BUDGET	THRU 7/31/18

ACTUAL
THRU 7/31/18	VARIANCE

Lighting Improvements
Fountain Improvements
Pool Repair & Replacements Landscape Improvements
Roadways/Sidewa lks Improvements Signalization

$33,333

$4,800
$50,000
$60,000	$50,000

$80,789
$8,804	($8,804)
$21,125	$28,875

TOTAL EXPENDITURES		$180,000	$150,0                        0             0	$137,924	$12,076 j

EXCESS REVENUES (EXPENDITURES)	
	($118,041)	
FU NDBALANCE - Beginning	 	$1,532,261		$1,520,202	
FUND BALANCE - Ending	$1,355,261	$1,402,161	

3

Reunion West
COMMUNITY   DEVELOPMENT DISTRICT

Series 2004-1

Debt Service Fund Statement of Revenues & Expenditures
ForThe Period Ending July 31, 2018

REVENUES:

ABDUODPGTEETD

THPRUOR7A/3T1E/D18

THRAUCT7/U3A1L/18	VARIANCE

SI npteecreiasltAssessments - Tax Collector

$1,336$,370109	$1,336$,275109

$1,$35181,164825

$101,,899626

IPnrtinecreipsatlEExxppeennssee1015//0011      I nterest Expense 05/01	$42603,,509004	4	$46230,,509040
$463,594		$42603,09040
$463,594		$0	
TOTAL EXPENDITURES	$1,347,188	$1,347,188	$1,347,188	so I	

TOTAL REVENUES EXPENOITURES:

TOrtahnesrfDerelbnt/S(Oervuti)ce Costs TOTAl OTHER

$1,337,019	$1,336,969

 	$463,59

$0	$0
$0	$0

$1,369,826	$32,857 I

$0
$0	so !

EXCESS REVENUES (EXPENDITURES)	 		$22,639

FUNDBALANCE - Beginning FUND BALANCE - Ending

$564,457
$554,288

4

$1,242,352
$1,264,991

Reunion West
COMMUNITY DEVELOPMENT DISTRICT

Series 2015

Debt Service Fund Statement of Revenues & Expenditures
For The Period Ending July 31, 2018

REVENUES:

ABDUODGPTETED

THPRRUOR7A/3T1E/D18

THRAUCT7U/3A1L/18	VARIANCE

SI npteecreiasltAssessments Tax Collector
TOTAL REVENUES EXPENDITURES:

Interest Expense 05/01

IPnrtinecreipsatlEExxppeennssee1015//0011 TOTAL EXPENDITURES

$326,8$705	$326,8$750
$326,875	$326,875

$140,000	$140 00

$94,631	$94,631
$94,631	$94,631
$329,262	$329,263
$0	$0

$33$32,,460695	$2,665
$336,073	$9,198 1

$140,000

$94,631	$0
$94,631	$0
$329,263	so I
$0	$0

TOrtahnesrfeDrelbnt/S(Dervuti)ce Costs

 	$0	$0	$0 

TOTAL OTHER	 	

$0	$0

$0	so I

EXCESS REVENUES (EXPENDITURES)	 	{$2,387)	$6,811

FUND BALANCE - Beginning FUND BALANCE · Ending

$134,677
$132,290

5

$300,291
$307,102

Reunion West
COMMUNITY  DEVELOPMENT DISTRICT

Debt Service Fund

Series 2016

Statement of Revenues & Expenditures
ForThe Period EndingJuly 31, 2018

REVENUES:
SSpeecciiaal Assssessssmentss -- TPreaxpCaoylmlecetnotr

ABUDODPGTETED
$549,7$50

THPRURA7/3T1E/D18
$549,75$0

THRAUCT7/U3A1L/18	VARIANCE
$$56502,,9627	$6$03,,617207

Interest	 	$0	$0	$1,107	$1,107 

$549,750

TOTAL REVENUES EXPENDITURES:
PI nritnecreipsatIEExxppeennssee1111//0011

$549,750

$124003,,072005	$124003,,070250

$614,653	$64,903 1
$124003,070205	$0

ISnpteecreiasltcEaxllp0e2n/s0e102/01

$0	$0

$12$01,,040601	($1(2$01,,400601))

ISnpteecrieasltcEaxllp0e5n/s0e105/01

$201,188$0	$201,18$80

$$16958,020660	($6$52,,090202)

TOTAL EXPENDITURES
TOrtahnesrfeDrelbnt/S(Oervuti)ce Costs TOTAL OTHER
EXCESS REVENUES (EXPENDITURES)
FUND BALANCE - Beginning FUND BALANCE · Ending

$544,913	$544,913
$0	$0
 	$0	$0

$4,837

$354,469
$359,306

6

$728,452	($183,539,i
$0	$0
$0	$0
($113,798)	
$754,645
$640,846

Reunion West
COMMUNITY DEVELOPMENT DISTRICT

Debt Service Fund
Statement of Revenues & Expenditures
Series 2017
ForThe Period Ending July 31, 2018

REVENUES:
Special Assessments • Tax Collector Special Assessments - Direct

ADOPTED	PRORATED
BUDGET	THRU 7/31/18

$302,162	$302,162

$0

$207,088	$207,08$80

ACTUAL
THRU 7/31/18	VARIANCE

$308,558	$6,396
$207,088

Special Assessments - Prepayment Interest

$0	$31,653	$31,653
$0	$767

TOTAL REVENUES EXPENDITU RES:
I nterest Expense 11/01 Interest Expense 05/01
TOTAL  EXPENDITURES
Transfer In/(Out) TOTAL OTHER
EXCESS REVENUES (EXPENDITURES)
FUNDBALANCE- Beginning FUND BALANCE - Ending

$509,250	$509,250

$94,036	$94,036
$186,006	$186,006
$280,042	$280,043
$0	$0
$0
$229,208
 	$94,036	
$323,244

7

$548,067	$38,817 I

$0

$94,036
$186,006
$280,043	$0 I
$0	($0)
$0	($o)j
$268,024
$348,723
$616,747

Reunion West
COMMUNITY DEVELOPMENT DISTRICT

Capital  Projects Fund
Series 2015
Statement of Revenues & Expenditures
For The Period Ending July 31, 2018

REVENUES:

Interest
TOTAL REVENUES EXPENDITURES:
capital Outlay

TOTAL EXPENDITURES

Transfer l n/(Out)
TOTAL OTHER

EXCESS REVENUES (EXPENDITURES)

FUND BALANCE . Beginning FUND BALANCE -Ending

ADOPTED BUDGET

$0
$0

$0

$0
$0

$0
$0

$0

8

PRORATED THRU 7/31/18

$0
$0

$0

$0
$0

ACTUAL
THRU 7/31/18	VARIANCE

$0	$0
$0	$0 '

$0	$0
$0	$0 '
$0	$0
$0	so !
$0
$5
$5

Reunion West
COMMUNITY DEVELOPMENT DISTRICT
Capital Projects Fund
Series 2016
Statement of Revenues & Expenditures
For The Period Ending July 31, 2018

REVENUES:
Interest
TOTAL REVENUES EXPENDITURES:
CapitaI Outlay - Construction TOTAL EXPENDITURES
Transfer I n/(Out) TOTAL OTHER
EXCESS REVENUES (EXPENDITURES)
FUND BALANCE • Beginning FUND BALANCE · Ending

ADOPTED BUDGET

$0
$0

$0

$0
$0

$0
$0

$0

9

PRORATED THRU 7/31/18

$0
$0

$0

$0
$0

ACTUAL
THRU 7/31/18	VARIANCE

$0	$0
$0	$0 !

$0	$0
$0	$0 '
$0	$0
so I
$0
$66

$66

Reunion West
COMMUNITY D EVELOPMENT DISTRICT
Capital Projects Fund
Series 2017
Statement of Revenues & Expenditures
For The Period Ending July 31, 2018

REVENUES:
Interest

TOTAL REVENUES EXPENDITURES:
Capital Outlay - Construction
Capital Outlay - Costs of Issuance

TOTAL EXPENDITURES

Transfer l n/(Out)

TOTAL OTHER

EXCESS REVENUES (EXPENDITURES)
FUND BALANCE - Beginning FU ND BALANCE - Ending

ADOPTED BUDGET

$0
$0

$0
$0
$0

$0
$0

$0

$0

10 

PRORATED THRU 7/31/18

$0
$0

$0
$0
$0

$0
$0

ACTUAL THRU 7/31/18

$2
$2

$314
$3,227
$3,541

($0)
($0) ($3,539)
$4,141

$602

VARIANCE

$2

($314) ($3,227)
($3,54111 ($0)
($0)1

Revenues
Special Assessments - Tax Collector

Reunion West COD Month to Month
Ott	Nov	Dec	Jan	Feb	Mar	Apr	May
$60,095	$255,680	S46,497	$32,580

Aug	Sept	Total

SpeciaI Assessments - Direct
Interest Income	$0	$0

$0	$159,521	$0

$119,748

$95,711		S23,711 S98,798

$28	$0

June

$30,575	$0

$587,368

Miscellaneous Revenue

Total Revenues

$0	$0	$0

S8S2

$1	$1	$1
$0

$448,416
$0
S2,840

Expenses Supervisor Fees

$60,096	$255,681	$206,019	$32,580	$137,221	$96,563	$123,930	$95,367

$77

$0	$0	S800

$31,171	$0	$0	$1,038,629)

FICA

$0	$0	$61

$800	$0	$0	Sl,000

$0	$0	$0

$46

Engineering	$0	$0

$61	$0	$0

$0	$0

$4,200

Attorney	Sl,031	$528

$245	$0	$0	$150	$600	$0

$321

Trustee Fee	$0	$0

$0	$0

$422

$481	$853	$0

$5,348

Dissemination	$708
Arbitrage
Collection Agent Property AppraiserFee

$958	$708	$708
$0
$0
$524

$1,208

$4,364
$708	$708	$758
$0
$0	$0

$0	$8,728
$0

S7,500

Annual Audit	$0

$0
$0	$0

$0	$0	$0

Management Fees
I nformation Technology	$183
Telephone

$3,582	$3,582	$3,582	$3,582
$183
$0	$0

$6,100
$3,582	$3,582
$183

$0
S3,582
$183

$0	$0	$6,100
$0	$0	$35,820
$0

Postage
Printing & Binding

$132	$45

$0	$9	$0

$27

$0

$75

Insurance	$8,540	$0	$0	$0
legal Advertising	$0	$0	$0	$0

$66	$26
$0	$0	$0	$0

$29	$0	$0
$0	$0

$312

Other CUnent Ola rges	$0	$0
Off<:e Supplies	$28	$20	$0

$0
$0	$0	$0

$0	$0	$0
$0	$0

$0	$8,540
$0

Travel Per Diem	$0

$175

Dues, licenses & Subscriptions

$0	$21	$20
$0	$0

$20	$20	$20	$0
$0	$0	$0	$0

$0	$2
$0

Total Administrative

$22,515	$5,065

$0	$0	$0	$0	$0
$6,239	$6,745	$11,611

$0	$0

$5,434

$10,640	$11,203

$175

$0	$89,37&!

11 

Reunion West COD Month to Month
Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sept	Total

Field Management

$2,303	$2,303

$2,303	$2,303

$2,303	$2,303	$2,303

$2,303

$0	$23,030

Facility Lease Agreement	$1,362	$1,362	$1,362	$1,362	$1,362	$1,362	$1,362	$1,362	$1,362	$1,362	$0	$0	$13,621

Telephone	$224	$225	$225	$291

$225	$228	$227	$227	$228	$0	$0	$2,258

Electric	$14,390	$14,596	$14,542	$14,812	$15,199	$14,585	$14,713	$15,119	$14,629	$14,016	$0	$0	$146,602

$3,139

Water & Sewer	$1,857

$2,251	$2,131

$1,980	$2,214	$2,167	$2,556	$1,989

$21,177

Gas	$123	$2,145

$555

$104
$16,610

$104	$556
$0	$0	$0

PEonvoliroanndmFeonutantl ain Maintenance	$6,524

Property I nsura nee

$2,294	$3,159

$104	$104
$0	$0

$5,957	$7,235	$5,007	$6,705

$1,720	$1,013

$6,459
$556

$382	$0	$0	$19,295

$0

$0	$0	$60,129

$0	$2,869
$0	$0	$0	$16,610

$5,905

$0

Irrigation Repairs	$232	$0	$759	$827	$400	$361	$1,351	$611	$746	$618	$0	$0
landscape Contract	$21,676	$21,676	$21,676	$21,676	$25,205	$21,676	$21,676	$27,798	$21,676	$0	$0	$234,428

landscape Contingency	$131

$258	$1,009

$640	$2,076	$4,758	$0	$2,188	$0	$0	$11,549

$2,773

$738

$984

$297

Landscape consulting	$1,300	$1,300	$5,596	$2,398	$1,300	$1,300

$1,300	$1,300	$1,300

$0	$19,867

Gate and Gatehouse Expenses

$483

$648	$642	$1,318	$505	$0	$0	$5,613

$104

Roadways/Sidewalks	$6,184	$4,232	$6,842	$852	$9,346	$20,010	$5,720	$15,592	$2,980

$0	sn.os2

$563

Lighting	$1,183	$107	$626

$1,055	$0

$0	$0	$0

MSA Building Repairs	$1,146

$258

$11,456	$590	$988	$2,122

$240	$0	$0	$18,539

Pressure Washing	$0
Maintenance (Inspections)

$0
$0	$26

$0	$0	$1,468	$5,393	$2,226

$32

$0	$26	$0	$120	$80	$135

$0	$9,951
$0	$387

Pest Control

$0	$0	$0	$0	$0

$0	$0	$0	$0

Signage	$0

$2,792

$0	$0	$0	$3,776	$0	$0	$0

$0	$0	$0

SIrreicguartitioyn System Operations

$4,666

$4,667	$4,667

$4,667

$0	$0	$46,666

$0	$0	$0	$0	$0	$0	$0

Contingency

$0	$0	$0	$0	$0	$0	$5	$0	$0	$0	$0	$S

Tc(al Maintenance	I

$62,911

$84,215	$67,934	$82,166	$76,467

$0	$0	$740,3841

Total Expenses	I	$103,268

$86,348	$69,150

$95,826

$92,806	$87,670

$0	$0

$72,909

Excess Revenues (Expenditures)	I	1$103,267)	($6,438)	$169,333	$136,869

$41,395	$23,654	$31,124

($36,636)	$0	$0	$208,869 1

12 

REUNION WEST
COMMUNITY DEVELOPMENT DISTRICT SPEOAL ASSESSMENTREalPTS - FY2018 TAX COLlEtTOR
Gross Assessments	3,275,942	612,614 $ 1,417,()83

347,739

576,685      $	321,821

Net Assessments	3,D79,38S	575,857 $  1,332))58	326,875	542,084 $	302,511
Gms,	2004-1	2016	2017
Date	Asses;sments	Discounts/    Commissions	Interest	Nat Amount	General Fund         Debt Svc Fund      DebtSvc Fund         Debt Svc fund    DebtSvs Fund	Total
Received	Dist.	Received	Penalties	Income	Received	18.70%	43.26%	10.61%	17.60%	9.82%	100%

11/24/17	ACH	$ 326,526.96	$ 13,061.35	6,269.31	$	307,196.30	$	57,446.87	132,884.75	32,608.69	54,077.76	s 30,178.23 s	307,196.30	
12/15/17	ACH	$ 1,293,164.16	$ 51,666.04	24,829.97	$	$ 1,216,668.15	$ 227,521.56	526,297.51	129,148.53	214,178.00	$ 119,522.55 $	1,216,668.15	
	$	28,lSS.70	65,136.04	15,983.78	26,507.26	$ 14,792.44	150,578.22	
	$	46,429.20	107,398.93	26,354.70	43,706.24	$ 24,390.38	248,279.45	

11/9/17	ACH         $	15,257.89  $      805.47	289.05   $	14,163.37  $	2,648.60	6,126.69	1,503.43	2,493.27  s	1,391.38 $ 14,163.37

12/28/17

$       159,123.40   $    5,472.16	3,073.02   $	s 150,578.22

s	s	s	s

1/16/18	ACH         $         261.181.83      $      7,835.46	5,066.92  s	s 248,279.45

s	s	s	s

1/26/18	ACH         $	$	363.13	363.13	6791	157.08	38.SS	63.92	35.67	363.13

93,434.39

s	s	s

2/14/18	AOl      $      181,597.25  $   3,822.15	3,555.51	174,219.59	32,579.72	75,362.65	18,493.30	30,669.01	17,114.91	174,219.59

s

3/1S/18	ACH      $	96,353.38 $  1,012.17	1,906.82 $	93,434.39	17,472.59	40,417.17	9,918.00	16,447.86	9,178.n

s

ACH        $      516,125.00   $	72.89	10,321.03 $	505,731.08 $	94,573.63	218,765.49	53,683.02	89,027.13  $    49,681.80	505,731.08
4/13/18	ACH       $	6,031.68  $	120.64    $	5,911.04 $	1,105.39	2,556.95	627.45	1,040.56 $	S80.69	5,911.04

477.39

/	s	s

ACH        $	$	$	168.99  s	168.99 s

s

S/11 18	AOl          $	2,604.93	52.10 $	2,552.83 $
5/11/18	AOl       $       126,n9.04	2,53S.59  $	$  124,243A5  $	23,234.00

73.10	17.94	29.75  $	16.60

s

s

1,104.28	270.98	449.39	250.78	2.552.83
13,188.36	21,871.38	12,205.38	124,243.45

s

6/14/18	ACH        $	86,746.49  s	1,734.92 $	s  85,011.57  s	15,897A9	36,n3.69	9,023.92	14,965.14      s	8,351.33	85,011.57

s	s	s

6/20/18	ACM   s  216,602.00  s	4,332.04 $	212,269.96 $	39,695.29	91,822.20	22,532.32	37,367.26 $   20,852.89	212,269.96

$	s	$	$s$

7/17/18	ACH       s	147.68	147.68  $	27.62	63.88	15.68	26.00   $	14.51	147.68
$	$	s	s	s	$
       Totals	3,131!.09A.01 $ 83,747.69	64,086.92	679.80   S. 3.JitD..939..10	587,367.56 5 1,3S8.&a-,.76	333,408.65	1/iHln!	308 558.31  $ l,-I00,9l.9�0 OFF ROLL ASSESSMENTS
REUNION WEST HOA rNC	$366,183.00	$159,095.00	$ZD7,088.0D

DATE
RECEIVED	
DATE	CHECK
NO.	NET
ASSESSED	AMOUNT
RECEIVED	GENERAL
FUND	SERIES	
3/5/18
6/18/18	2/1/18	553032129
553035921	
s$      91,546.00 91,S46.00	$	91,546.00
$	91,546.00	$  39,774.00
$  39,774.00	$   51,772.00
$   51,772.00	
			$ 366,183.00	$ 366,183.00	$ 159,095.00	$ 207,088.00	

13 

REUNION WESTSPE, UC

OFF ROLL ASSESSMENTS

$197,596.00

$197,596.00

DATE RECEIVED	DUE	CHECK	NET
DATE	NO.	ASSESSED	AMOUNT RECEIVED	GENERAL FUND	
1/2/18	12/31/17	17376	$ 49,399.00	$	49,399.00	$ 49,399.00	
3/22/18	3/31/18	18825	$ 49,399.00	$	49,399.00	$ 49,399.00	
4/13/18	6/30/18	12593	$ 49,399.00	$	49,399.00	$ 49,399.00	
4/13/18	9/30/18	12593	$ 49,399.00	$	49,399.00	$ 49,399.00	
	 	$   197,596.00 	$ 197,596.00 	$ 197,596.00	

REUNION WEST SPE, lLC

$53,312.00

$53,312.00

DATE
RECEIVED	DUE	CHECK	NET
DATE	ND.	ASSESSED	AMOUNT RECEIVED	GENERAL
FUND	
1/2/18	12/31/17	17376	$ 13,328.00	$	13,328.00	$ 13,328.00	
3/22/18	3/31/18	18825	$ 13,328.00	$	13,328.00	$ 13,328.00	
7/18/18	6/30/18	20761	$ 13,328.00	$	13,328.00	$ 13,328.00	
	9/30/18	$ 13,328.00	$	$	
	 	$      53,312.00 	$	39,984.00 	$ 39,984.00	

REUNION WESTSPE, UC

$58,744.00

$58,744.00

DATE
RECEIVED	DUE
DATE	OiECK
NO.	NET
ASSESSED	AMOUNT
RECEIVED	GENERAL
FUND	
1/2/18	12/31/17	17376	$ 14,686.00	$	14,686.00	$ 14,686.00	
3/22/18	3/31/18	18825	$ 14,686.00	$	14,686.00	$ 14,686.00	
7/18/18	6/30/18	20761	$ 14,686.00	$	14,686.00	$ 14,686.00	
	9/30/18		$ 14,686.00	$	$	

REUNION WEST SPE, LlC

$10,244.00

$10,244.00

DATE
RECEIVED	DUE
DATE	OiECK
NO.	NET
ASSESSED	AMOUNT
RECEIVED	GENERAL
FUND	
1/2/18	12/31/17	17376	$	2,S61.00	$	2,561.00	$	2,561.00	
3/22/18	3/31/18	18825	$	2,561.00	$	2,561.00	$	2,561.00	
7/18/18	6/30/18	20761	$	2,561.00	$	2,561.00	$	2,561.00	
	9/30/18		$	2,561.00	$	$		
			$ 10,244.00	$	7,683.00	$	7 683.00	

TOTAL DIRECT BILLED
TOTAL RECEIVED	SUMMARY

GENERAL FUND
$478,991.00
$    448,416.0D	

DEBT SERVICE
$207,088.00
$      207,088.00	
VARIANCE	$ j 30,575.0DI	$	

14 

SECTION 4

$3,748

District Reunion East

Product

Reunion East/West CDD Direct BIiied Assessments for FY 201B

Total O&M Total Debt	Total Due	O&M	Debt

Total	Paid

IL.andownder

O11t-ic1o-1m5mDuSnIinttieesrest

$10,982	$14,992	$25,974

NFeobv

$2,,744961

$3,748

$$162,49847 Paiid -- $D1e0b,t9f8o2r -FJYu1s8t O- 4&/9M/18

3E4st-o2p5p-2e7l -4012-0001-0013   66 Comm

 		May	 	$2,746	$6,494 Paid - Debt for FY 18 - 4/9/18

$5,053

Totals

$10,982	$14,992	$25,974	Total	$10,982	$14,992

$25,974

L3RSA-2O5-R2LA7-4N8D8O5-LPLRCCL-0C30   4 MF 

$1,848

$6,901	NFeobv

O& M$924

Debt $12,,256273

Tota$l 3,451  PPaaiidd - 10/13/17

May	S5446622	$1,263	$1,,725  Paid - 10/133/177
Total	$1,848	$5,053	$6,901

$356,292

1E1H-O1·F15 Interest

Nov

O&M	Debt

Total	Paid

2375--25·-27·-4298895-TPRRCALC--OFlDC200   32042C.2o9mCmo/m75m5/M70F1 MF/300 Hotel

$439508,,804261	$1$,210573,,826285	$1$,569181,7'\191	Feb	$422574,,496232	$45289,,634936

$1$,361536,,680168 PPaaiidd 31/6/18

27-25-27·2985-TRAC·FD30 10 Comm/56 MF/104 Hotel

$909,846	s1i711,38s	$2$,64217,,23711

TMoatayl	$90279,,844662

$1$,472197,,3856

$2$,65267,,283018 Paid 6/7/18

District

$79,974

Reunion West

I RLaenudnoiownnWdeerst SPE

Total O&M  Total Debt	Total Due

Dec

O&M	Debt

Total	Paid

12/29/17

$79,974

2272-·2255--2277--40902070--000002l0S·0Fl0000

$$19573,,539106	$$19573,39160	March	$79,,974    	      $0

$79,,974 3/22/18

27-25·27-4927-0001•SF20

$58,746

�$5180,,724464

June

$0	$79,974 Paid 7/20/18

35-25-27-4881-PRCL·006A

$3$19,,284496..00	$0.00     $319,896.00	TSoetpatlernber

$319$,87996,974	$0

$319 896

2R2e·u2n5io-2n7W-4e9s2t3-H0O0A01-00B0

$159,095	$207,088	$366,183	FNeobv

$379,,757437..7550	$1$0531,,574742..00

$$18913,504951..5705 3P/a9id/1·81/2/17

$159,095.00

22-25-27-4923--0001-00M0

TMoatayl

$39,773.75

$207,$05818,.70702.00

$3$6916,,514835..0750 Paid 6/18/18

SECTl·ON 5

REUNION WEST COMMUNITY DEVELOPMENT DISTRICT
$4,285,000
SPECIAL ASSESSMENT REFUNDING AND IMPROVEM ENT BONDS, SERIES 201 5
ARBITRAGE REBATE REQUIREMENT APRIL 30, 201 8

Grau & Associates
CERTIFIED  PUBLit: ACCOUNTANTS

July 17, 201 8

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

Reunion West Community Development District Osceola County, Florida
Re: $4,285,000 Reunion West Community Development District (Osceola County, Florida), Special Assessment Refunding and Improvement Bonds, Series 201 5 (the "Bonds")
Reunion West Community Development District has requested that we prepare certain computations related to the above-described Bonds for the year ended April 30, 2018 ("Computation Period"). The engagement consisted of the preparation of computations to be used to assist in the determination of the amount, if any, of the Rebate Requirement for the Bonds for the Computation Period as described in Section 1 48 (f) of the Internal Revenue Code of 1 986, as amended ("Code"). You have the ultimate responsibility for your compliance with arbitrage rebate laws; therefore, you should review the calculations carefully.
In order to prepare these computations, we were provided with the following information : various trust statements and the amended and restated first supplemental trust indenture for the Bonds. We did not verify or otherwise audit the accuracy of information provided to us by you or the Trustee, and accordingly, we express no opinion on such information. The attached schedules are based upon the aforementioned information provided to us. A brief description of the attached schedules is attached.
The results of our computations based on the information provided to us indicate a negative Rebate Requirement of ($ 144,619) for April 30, 201 8. Consequently, our results indicate no amount must be on deposit in the Rebate Fund.
The Rebate Requirement has been determined as described in the Code and the Arbitrage Rebate Regulations. We have no obligation to update this report because of events occurring, or information coming to our attention , subsequent to the date of this report. It is understood that these calculations are solely for the information of, and assistan ce to, the addressee for the purpose of complying with the Code and the Arbitrage Rebate Regulations. Our report is not to be used for any other purpose.
1P4M' )-�
Grau & Associates

DESCRIPTION OF ATTACH ED SCHEDULES

Summary of Rebate Calculations - Provides a summary of the rebate calculations.
Purpose Expenditures Future Value Report - Verifies the rebate calculation. The report future values the purpose expenditures by the arbitrage yield limit to the computation date (April 30, 201 8).

Arbitrage Yield Limit (AYL} Verification Report - Verifies the calculation of the arbitrage yield limit and the arbitrage gross proceeds. Discounts the debt service schedule by the arbitrage yield limit.

True Interest Cost (TIC) Verification Report - Verifies the calculation of the true interest cost and the gross proceeds. Discounts the debt service schedule by the true interest cost.

Unspent Proceeds Report - Verifies the amount of unspent proceeds. Lists purpose expenditures in chronological order.
I nternal Rate of Return (I RR) Report Via Purpose Expenditures - Verifies the internal rate of return for the investment portfolio. This report presents values the purpose expenditures by the internal rate of return to the delivery date.

Reunion West COD
Special Assessment Refunding & Improvement Bonds Series 20 I 5 Summary of Rebate Calculations
$ 4,285,000.00

Dated:
Delivered:

05/19/2015
05/1 9/2015 

Anniversao, Date. . . . . . . . . . . . .. . . . . . ... . . .... . . . . . .. . . . . . . . . . . . . . . . .	11 /01 /2015	
F11tun1-Value Date. ..... . .. . . • . . . . .. • . . . . . . . . ... . . . . . . . . . .. .... , .... 	04/30/201 8	
Arbitrage ·Yield Umit.... . . . .. . . . . . .. . . . . . . . . . . .. . . . ......... • .. . . . . .	4.8281393	
Total ofPurpose Lxpcnditures. . . . . . . . . . . . . . . . . . . . ....... . . .. . . . . .. .. . . .	$4,122,144.00	
Internal Rate efRctum........ . . • .... . .... . . . . . . . . ....... . . . . . . . . . . . .	0.0496680	
90% ofrebate liabiliry. • . . . . . . . . • • . . . . . . . ... . . . . . . . .. ....... . . . . . . . . . .	-$ 1 30,1 56.70	
Full rebate liabilify	•	-$144,61 8.55	

REUNIONW-201 5.A I FY: 1 I Mun-EaseElevateMainDb I 16.951 EDB I 07/1 7/201 8 I 14:32 I Rpt22
Grau & Associates
Grau & Associates CPAs

Page	1

Reunion West COD	Dated:	05/1 9/2015 	
Special Assessment Refunding & Improvement Bonds Series 20 I 5	Delivered:	05/1 9/2015	
Purpose Expenditures Future Value Report	Fnfllre Valued To:	04/30/2018
$ 4,285,00Q;QO

Transaction	Group  Fund	Future Value C:alculalirm Amt	FV	FV
	Date	ID	ID	Des,ription	Periods	(fat. Earnilw}	Pool %	Factor	Amount	
	5/1 9/2015 	-1	COi	Beg. Arbitrage Uross Proceeds	5. 8944444	-4,285,000.00	l.00.0000000	1.1509706	-4,93 1,909.0 1	
	5/19/20 15 	2016		Proceeds	5.8944444	4,418,333.00	1 00.0000000	1.1509706	5;085,371 .37	
	5/19/20 15 	20 16 		CO!	5.8944444	1 66,500.00	1 00.0000000	1.1 509706	191,636.60	
	5/19/2015 	2016		Transferred funds	S 8944444	-4,695,000.00	I00.0000000	1.1 509706	-5,403,806.96	
	5/19./2015	2016 		Undeiwriter discount	5.8944444	85,700.00	100.0000000	1.1 509706	98,638.18 	
	5/20/2015 	2016		COi	5.8888889	6,089.00	1 00.0000000	1.1508181	7,007 33	
	5/26/2015	2016 		COi	5.8555556	1 6,250.00	1 00.0000000	1.1499034	18,685.93	
	9/2/2015 
1 1/2/2015 	2016
2016 		Interest Interest	5.3222222
4.9888889	LOO
89,344.00	1 00.0000000
100.0000000	l. 1353669 1.1263750	1.14 
100,634.85	
	ll/312015 
I l/1 9/iOt 5	2016 
20 16		Interest
Construction	4.9833333
4.8944444	1 .00
3,392,229.00	100.0000000
100.0000000	1.1 262258
1. 1238403	U3
3,8 12,323.69	
	1 2/1 1/2015 	2016		Construction	4 7722222	494,288 00	100.0000000	1.1205685	553,883.59	
	1/15/2016 	2016 		Construction	4.5833333	2,200.00	I 00.0000000	1.1 155309	2,454.17	
	5/2/2016 	2017 		Interest	3.9888889	9.349.00	1 00.0000000	1.0998245	10,282.26	
	I. l/1 12016 	2017 		Reserve	2.9944444	13.00	100.0000000	1.074042 1	13.96	
	1 2/23/201 6	2017		Construction	2.705S556	136,4 16.00	100.0000000	1.0666662	145,5 10.34	
	5/1 /20 17 	20 18 		Reserve	1 .9944444	62.00	I 00.0000000	1.0487252	65.02	
	l l/l/2017 	2018		Reserve	0 9944444	369.00	1.00.0000000	1 .0240050	377.86	
	4/30/2018 	-I 		Unspent Proceeds as of04/30/20l 8	0,0000000	164,21 0.00	l00.0000000	1.0000000	.164,210.00	
						1,354.00			-144,618.55	

Arbitrage YieldLi,nit (AYL) . . .....•....... 	4.8281393	
lntem.al Rate oj Ret11rn (IRR) . . . . . ......... 	0.0496680	
Future 'Valued 'f'().. • • • • •  • • • • •  • • • • • • • • • • • • • 	4/30/2018	

REUNiONW�201 5-A I FY: 1 I Mun-EaseElevateMai.nDb I 16.95f EDB I 07/17/2018 I 14.32. I Rpt15a
G rau & Associates
Grau  &  Associates C PAs	Page	1

Reunion West CDD	Dated:	05/19/201 5
Special Assessment Refunding & Improvement Bonds Series 10 l 5	Delivered:	05/1 9/2015 
A.Y.L. Verification Report	FMSBonds, Inc

4,.285.,000.00

MSRB 30/J60 SEMI 4/3

Coupon	Principal	Coupon	lntemt	Crcd. Enh./	Pen'odic	Pnsent Va/11e	Disco1111led
Period	Dtite	Pqyment	Rote	Pqyment	Si11king FwulAt!J	Debt Servit,'11	Factor	   Debt Se,vice 
l	11 /01/2015	89,34 1.89	89,341 .89	0.9787603	87,444.29
2	05/01 /20 16	130,000.00	3.500	99,268 75	229,268.75	0.9556893	21 9,109.69
3	11/01/2016	96,993 .75	96,993.75	0.9331621	90;5 10.89
4	05/01/2017	135,000.00	3. 500	96,993:7�	231 ,993.75	0.9111659	211 ,384.80
5	1 1/01 /20 17	94,63 1 .25	94,631 .25	0;8896882	84,192.3.I
6	05/0 1/2018	140,000.00	3.500	94,631 .25	234,631.25	0.8687168	203,828. 11 
7	ll/01 /20 18	92, 181.25	92, 181 .25	0.8482397	78,191 80 
8	05/01 /2019	145,000.00	3.500	92, 1 81.25	237, 181 .25	0.8282453	196,444.25
9	1 1/01/2019	89,643.75	89,643.75	0.8087222	72,496.89
10	05/01 /2020	150,000.00	4.250	89,643 .75	239,643.75	0.7896592	1 89,236.90
11	1 1/01 /2020	86,456.25	86,456.25	0.771 0457	66,661 .72
12	05/01 /2021	155,000.00	4.250	86,456.25	241 ,456.25	0.7528 708	18 1,785.37
13	ll/01/202 1	83, 1 62.50	83,162.50	0.735 1244	61,134.78
05/01/2022	160,000:00	4.250	83,162.50	243,162.50	0.71 77963	174,541.l5
15	1 1/01 /2022	79,762.50	79,762.50	0.7008767	55,903.67
16	05/0)/2023	170,000.00	4.250	79,762. 50	249,762.50	0.6843558	170,926.42
l l/O I/Z023	76, 1 50.00	76, 1 50.00	0.6682244	50,885.29
18	05/0 1 /2024	175,000.00	4.250	76, 150.00	25 1,150.00	0.6524733	1 63,868.66
19	1 1101./2024	72,431 .25	72,43 1 .25	0.6370934	46,145.47
20	05/01 /202S	185,000.00	4.250	72,43 1.2S	257,43 1 .25	0.6220760	1 60, 1.4 1.81 
21	1 1/01 /2025	68,500.00	68,500.00	0.6074127	41,607.77
22	05/01 /2026	190,000.00	5.000	68,500.00	258,500.00	0.5930950	1 53,315.05
23	1 1/0 1 /2026	63;750.00	63,750.00	0.5791 147	36;91 8.56
24	05/0 1 /2027	200,000.00	5.000	63,750.00	263,750.00	0.5654640	149,l4l.14 
25	1 1/01/2027	58,750.00	58,750.00	0.552 135 1	32,437.94
26	05/0 1/2028	21 0,000.00	5.000	58,750 00	268,750.00	0.5391204	144,888.60
27	1 1/01/2028	53,500.00	53,500.00	0.5264124	28,163.06
28	05/0 1 /2029	225,000.00	5.000	53,500.00	278,500.00	0.5140040	143,150, 11 
ll/Oli2029	47,875.00	47,875.00	0.501 8881	24,027.89
30	05/0l/2030	235,000.00	5.000	47,875.00	282,875.00	0.4900577	138,625.08
JI	l l/01/2030	42,000.00	42,000.00	0 .4785062	20,097 26
32	05/0 1/203 1	245,000.00	5.000	42,000.00	287,000.00	0.4672271	1 34,094. 17 
33	11/01/2031	35,875.00	35,875.00	0.4562137	16,366.67

34
35 

05/01/2032	260,000.00	5 000	35,875.00	295,875.00	0.4454600	131 ,800.49
1 1/01 /2032	29,375.00	29,375.00	0.4349598	12,776.94
36	05/01/2033	275.000.00	5.000	29,375.00	304,375.00	0.424707 1	1 29,270.21
37	I l/Ol/2033	22,500.00	22,500.00	0.4146960	9,330.66
05/01 /2034	285,000.00	5.000	22,500.00	307,500.00	0.4049209	1 24,5 13. 19 
39	1 1/01 /2034	15,375.00	1 5,375.00	0. 3953763	6;078.91
40	05/0 1 /2035	300,000.00	5.000	15,375.00	315,375.00	0.3860566	121,752.60
41	1 1/01/2035	7,875.00	7,875.00	0.3769566	2,968.53

REUNIONW-201 5-A I FY: 1 I Muh0EaseElevateMairiDb J 16.95f EDB I 07/1 7/2018 J 14:35 1 Rpto1h
Grau & Associates
Grau & Associates CPAs

Page	1

Reunion West CDD
Special Assessment Refunding & Improvement Bonds Series 20 I 5
A.Y.L. Verification Report
4,285,000.00

Dated:	05/19/2015
Delivered:	05/1 9/201 5
FMSBonds, Inc
MSRB 30/ 360 SF.All 4/} 

Coupon	Pn11dpal

Coupon

lntcmt	Cred. Enh. /	Pen'odir:	Present Va/He

DiscoHnted

Period	Date

P'!)'llleTLI

Rate

P'!)'ment	Sinking Fund Ac§	Debt Scroicc

Fat·tor

Debt Service

42	05/0 1 /2036	315,000 00
4,285,000.00

5.000	7,875.00
2,622,185.64

322,875.00
0.00	6,907,185.64

0.3680711 

118,840.96
4,285,000.06

7rue Interest Cost (l1(;j. .	5.0555442	Face value ofbond ls.me.	$4,285,000.00	
Net inJerest Cost (.VIC). . . . . 	5.01 59267	deemed interest (+) . .  		
Arbitrage Yield Limit (A YL) . .	4.8281393	Original issue premium/discount (• j. . . . . 	$0.00	
Arbitrage Net Interest Cost (ANIC).	4.8571811	Bond suretyfee (-). . . . . . . . . . . . . . . . . . . . .	$0.00	
		!,ump-sum credit enhancements (-). . . . . . . 	$0.00	
		Other A YL costs /�) . . . . . . . . . . . . . . .		
		A YL 7arget.. 	$4,285,000.00	

REUNIONW-201 5-A I FY: 1 I Mun-EaseElevateMainDb J 16.951 EDB I 07/17/2D18 J 14'35 J Rpt01h 
Grau & Associates
Grau & Associates CPAs

Page	2

Reunion West CDD	1
MSRB  30/360 SE:,,Wf 4/3
Special Assessment Refunding & Improvement Bonds Series 2(	r"MJ '.B011ds, Inc
T.I.C. Verification Reoort (Regular)	Dated:	J/ 19/2015
4,285,000.00	Delimrd:	5/ 19/2015
	
Period	Coupon Date	Principal Pqyment	<:oupo11
&1tc	lnterut Ptzynmit	Credi.I Enh,incenm1ts	Periodic
Debt Service	Pnm:11/ Vabte
Factor	Diuo1111ted Debt Senlice		
	I	ll/l/2015			89,34 1. 89		89,34 1.89	0.9777833	87,357.01		
	2	5/1/2016	130,000.00	3.500	99.268.75		229,268.75	0.9536766	218,648.23		
	3	l l/1/2016			96,993.75		96,993.75	0.930 1641	90,220. 11 		
	4	5/1/2017	135,000.00	3.500	96,993.75		23 1,993.75	0.9072314 	210,472.0)		
	5	11/1/2017 			94,63 1.25		94,63 1 .25	0.8848640	83,735.79		
	6	5/1/2018 	1 40,000.00	3.500	94,63 1.25		234,63 1.25 	0.8630482	202,498.07		
	7	l l/1/2018 			92, 181.25		92, 181.25	0.8417701	77,595.42		
	8	5/1/2019	145,000.00	3.500	92, 181 .25		237,181.25	0.82101 67	1 94,729.77		
	9	l l/1/2019			89,643.75		89,643.75	0.8007749	71,784.47		
	10 	5/1/2020	150,000.00	4.250	89,643.75		239,643.75	0.7810322	187,169.49		
	II 	1 1/1/2020			86,456.25		86,456.25	0.761 7763	65,860,32		
	12 	S/l/202 1	155,000.00	4.250	86,456.25		241 ,456.25	0.7429950	1 79,400.79		
	13	11/1 /2021			83, 1 62.50		83, 162.50	0.7246769	60,265.94		
	14	5/1/2022	160,000.00	4.250	8J, 162.50		243,162.50	0.7068 103	171 ,869.76		
	15 	11/1/2022			79,762.50		79,762.50	0.6893842	54,987.01		
	16 	5/1/2023	1 70,000.00	4.250	79,762.50		249,762.50	0.6723878	167,937.26		
	17 	1 1/1/2023			76, 150 00		76, 150.00	0.65581 04	49,939.96		
	18 	5/1/2024	175,000.00	4.250	76, 150.00		251,150.00	0.6396417	160,646.02		
		U/l/2024			72,431 .25		72,43 1 .25 	0.6238717 	45,187.81		
	20	5/1/2025	185,000.00	4.250	72,431 .25		257,43 1 .25 	0.6084904	156,644.45		
	21 	l 1/1/2025			68,500 00		68,500.00	0.5934884	40,653.95		
	22	5/1/2026	190,000.00	5.000	68,500 00		258,500.00	0:5788562	149,634.33		
	23	1 1/1/2026			63,750.00		63,750.00	0.5645848	35,992.28		
	24	5/1/2027	200,000.00	5.000	63,750.00		263,750.00	0.5506652	145,237.96		
	25	1 1/1/2027			58,750.00		58,750.00	0.5370889	31,553.97		
	26	5/1/2028	210,000.00	5.000	58,750.00		268,750.00	0.5238472	1.40,783.93		
	27	l 1/1/2028			53,500,00		53,500.00	0.5.109320	27,334.86		
	28	5/1/2029	225.000,00	5.000	53,500.00		278,500.00	0:4983352	138,786.36		
	29	1 1/1/2029			47,875.00		47,875.00	0.4860490	23,269.60		
	30	5/1/203.0	235,000.00	5.000	47,875.00		282,875.00	0.4740657	134,101 .34		
	31 	1 1/1/2030			42,000.00		42,000.00	0.4623779	19,419:87		
	'32	5/1/203 1	245,000.00	5.000	42,000.00		287,000.00	0.4509782	129,430.73		
	33	1 1/1/203 1			35,875.00		35,875.00	0:4398595	15,779.96		
	34	5/1/2032	260,000.00	5.000	35,875.00		295,875.0()	0.4290150	126,934.81 		
		1 l/l/2032			29,375.00		29.375.00	0.4184378	12,291.61		
	36	5/1/2033	275.000.00	5.000	29,375.00		304,375.00	0.4081214	1 24,221 .97		
		1 l/1/2033			22,500.00		22,500.00	0.3980594	8,956.34		
	38	5/1/2034	285,000.00	5 000	22,500.00		307,500.00	0.3882455	1 19,385.48		
		I 1/1/2034			15,375.00		15,375.00	0.3786735	5,822.10		
	40	5/ 1/2035	300,000.00	5.000	15,375.00		31 5,375.00	0.3693374	116,479.80		
		I 1/1/2035			7,875.00		7,875.00	0.36023 16 	2,836.82		

35 

39

REUN_IONW-201 5-A I FY: 1 I Mun'EaseE.levateMainDb 1 16.951EDB I 0711 7/2018 I 14:36 I Rpto1a
Grau & Associates	Page 1
G rau & Associates CPAs

Reunion West CDD
Special Assessment Refundin� & Improvement Bonds Series 2(
T.I.C. Verification Reoort (Regular)
4,285 ,000.00

2
:WSRB 10/360 SEMI 4/ 1
FM mond,-, Im:
Dated:	5/Tf)/2015
Dclit,nw.·	5I 19I2015

Coupon
Pcnod	Date	Pn•izcipal
Pqym1111J	Coupon
&1te	lnterett
Pq_yment	Credit
E11hance111mt.f	Pcriodif
Debt .feroice	Pre.rent Vah,c
Factor	Dimmnted
Debt Servii:e	
42	5/t/2036	315;000.00	5.000	7,875.00		322,8 75.00	0.351 3503	113,442.22	
	4,285,000.00		2,622,185..64	0.00	6,907,185.64		4,) 9.9,299. 98	

True Interest Cost (TIC) . . . . . .
Net Interest Cost (.VIC). . . . . . . , . . . . . . .
Arbitrage Yield Lim/I (AYLJ . .. .
Arbitrage Net !ntel'esl Cos/ (AN!C)

5.0555442
5.0159267
4.8281393
4.8571811

Face value oj bond Issue. . . 
Accrued interest (·) , . . . . . . .  . . . .  ,  . . . .  , .
Original issue premium/discount (-) .  . .  .  .
Undenvriler discount (·) . . . . . . . . . , . . . . .
Lump-sum credit enhancements (-) . . . . . . . 
Other TIC costs (-) . . 
Bond suretyfee (-i . . .
77C Ta,-get . . . . . . . . . . . . . .

$4,285,000.00

$0.00 ($85,700.00)
$0.00

NIA
$4,199,300.00

REUNJONW-201 5-A 1 FY: 1 1 Mun-EaseElevateMainDb I 16.951 EDB I 07/17/2018I 14:36 I Rp\01a
Grau & Associates	Page	2
Grau & Associates CPAs

Reunion West CDD	Dated:	05/19/2015
Special Assessmerit Refunding & Improvement Bonds Series 20 15	Delivered:	05/19/2015
Unspent Proceeds Report
$ 4,285,000.00

Cak	Grp	Fund		Gross	Pool	';\io11pu,post	P11,post	(Jnspe11/	
Date	fD	P11	,p	TD	Description	Au,0,1111	Pen:mtage	fove.st1r1111I	.Expendit11rts	Protledi	
05/19/2015		-1   N	COi	Beg. Arbitrage Grass Proceeds		L00.0000000		4;285,000.00 05/19/2015	2016   y		Proceeds	4,418,333.00	l00.0000000	4,418,333.00		-133,333.00
0511 912015	2016   y	COi	166,500.00	I 00.0000000	1 66,500.00	-299,833.00
05/1912015	20.16   y	Transferred fw1ds	-4,695,000.00	l00;ooOOOOO	-4,695,000.00	4,395,167.00
05/19/2015	2016  y	Underwriter discount	8\700.00	l00.0000000	85,700.00	4,309,467.00
05120/2015	2016   y	COi	6,089.00	100.0000000	6,089:oo	4,303,378.00
05/2612015	2016    y	COi	16,250.00	1 00.0000000	1 6,250.00	4,287,128.00
09/02/2015	2016    y	b1terest	1.00	I 00.0000000	LOO	4,287,1 2?:°oo

11/02/2015	201 6    y	Interest	89,344.00	I00.0000000	89,344.00	4, 1 97,783.00
1 1/03/20 15	2016    y	Interest	1 .00	100.0000000	1.00	4,197,782.00

11/19/2015	2016   y	Constn1clion	3,392,229.00	1 00.0000000	3,392,129.00	805,553.00

1 2/lli201S	2016    y	Coils1rnc1ion	494,288.00	I 00.0000000	494,288.00	311,265.00

01/15/2016	2016   y	Construction	2,200.00	100.0000000	2,200.00	309,065.00

05/02120 16	2017    y	Interest	9,349_00	I00.0000000	9,349.00	299,71 6.00

11/01/2016	20 17    y	Reserve	13.00	100.0000000	13.00	299,703.00

12/23/2016	2017   y	Construciion	1 36,416,00	100.0000000	136,416.00	163,287.00

05/01/2017	2018   y	Reserve	62.00	100.0000000	62.00	163,225.00

1 1/0 1/2017	2018    y	Reserve	369.00	100.0000000	369.QO	162,856.00

4,122,144.00	0.00	4,122,144;00

First .Investment Date. _ .. , ..... , . . . . . . . . . . . .. .	5/19/201 5	
Calculation Date _ ............ . . . . . . . . . . . . . . . 	4/30/2018 	
Arbitrage Yield Limit (AYL). . • ... . . . . . . . • , . . . . . . 	4.8281393	
Internal Rate ofReturn ([R.R). . . . . . . ..... . . . . . .	0_0496680	

REUNIONW-201 5-A I FY: 1 1 Mun-EaseElevateMainDb J 16.95f EDB I 07/1 71201B I 14:32 I Rpt11
Grau & Associates
Grau & Associates CPAs	Page	1

Reunion West COD
Special Assessment Refunding G Improvement Bonds Series 20 I 5
I.R.R. Report Via Purpose Expenditures
$ 4,285,000.00

Dated: Delivered:

05/1 9/2015
05/19/2015

G,p	Trans	.Fund	Dt!J' Count

Cak11/alio11 Amt	Pool	** Internal Rate ofReturn **

ID	Date	TD	Ducription	Factor
-1  OS/1 9/20 15	Beg. Arbitrage Gross Proceeds 	0.0000000
2016 05/i9/20 15	Transferred funds	0 0000000
05/19/20 15	Underwriter discount	0.0000000
OS/1 9/20 15	COi	0.0000000
05/i912015	Proceeds	0.0000000
OS/20/2015	COi	0.005'5556
05/26/2015	COi	0.0388889
09/02/201.5	Interest	0.5722222
11 /02/20 15	Interest	0 9055556
l_l/03/20 I 5	Interest	0.9U llll 
11 /19/2015	Construction	1 .0000000
12/1 1 /2015	Construction	1 1222222
01/ 1 5/2016	Construction	l.3l ll l l I
20 17 05/02/2016	Interest	I 9055556
11/0 1/2016	Reserve	2 .9000000
12/23/2016	Construction	3 1888889
20 18 05/01 /20 17	Reserve	3.9000000
11/0 1/20 17	Reserve	4.9000000
99999 04/30/2018	Unspent Proceeds as of 04/30/2018	5.8944444

Arbitrage YieldLimit	, .
Internal RaJe ofRetum ............ .
Calculation Standard. . . . . . . . . . ..... .

(I.11ten!J'l l:.aming.r)    Pc{g	PVFactor
(4,285 ,000.00) 100.000	1.0000000
(4,695,000.00) too.ooo	1.0000000
85,700.00 100.000	r.0000000
166,500.00 1 00.000   .1 .0000000
4,41 8,333.00 100.000	1.0000000
6,089.00  100.000 0.9999986
16,250.00   100.000   0.999<J903
1.00  100.000 0.9998579
89,344.00   1 00.000  0.9997752
1.00 100.000  0.9997138
3,392,229.00 100.000 0.9997517
494,288.00  100.000  0,99972 14 
2,200.00   1 00.000  0.9996745
9,349.00  100.000 0.9995269
13 .00  100.000 0.9992802
136,4 16.00  100.000 0.9992085 
62.00 1.00.000 0.9990321 
369.00  L00.000  0.9987840
164,21 0.00   1 00.000   0.9985374
1,354.00

4.8281393
0.0496680
MSRB 30/360 SEMI 4/3

PVAmt
(4;285,000.00)
(4,695,000.00)
85,700.00
166,500.00
4,41 8,333.00
6,088.99
16,249.84
1.00
89,323.9 1
1 .00
3,391,386.78
494, 150.28
2,199.28
9,344.58
12.99
136,308.02
6 1.94
368.55
163,969.83
0.01

R_EUNIONW-2015-A  I   FY: 1 I Mun-EaseElevateMainDQ j 16.951 EDB I 07/17/2018 I 14:32 J Rpl09C
Grau & Associates	Page	1
Grau & Associates CPAs