Narcoossee
Community Development District Agenda
September 27, 2022

Agenda

Narcoossee
Community Development District

September 20, 2022

Board of Supervisors Narcoossee Community Development District

Dear Board Members:

219 East Livingston Street, Orlando, FL 32801 Phone: 407-841-5524 – Fax: 407-839-1526

The Board of Supervisors of the Narcoossee Community Development District will meet Tuesday, September 27, 2022, at 3:00 p.m. at the GMS Offices, 6200 Lee Vista Blvd., Suite 300, Orlando, FL 32822. Following is the advance agenda for the meeting:

Roll Call
Public Comment Period
Approval of Minutes from the July 26, 2022, Meeting
Series 2013A Bonds Presentation- MBS Capital Markets, LLC
Agreement for Underwriting Services- MBS Capital Markets, LLC
Discussion of Landscaping Services
Staff Reports
Attorney
Engineer
District Manager’s Report
Approval of Check Register
Balance Sheet and Income Statement
Other Business
Supervisors Requests
Next Meeting Date – November 29, 2022
Adjournment

Minutes

MINUTES OF MEETING NARCOSSEE
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Narcoossee Community Development District was held Tuesday, July 26, 2022 at 3:00 p.m. at the Southern branch – Orange County Library, 5575 S.R. 436 N, Orlando, Florida.

Present and constituting a quorum were:

Jeffrey Smyk	Chairman
Steve Giercyk	Vice Chairman
James Gregoire	Assistant Secretary by telephone
Peter Wong	Assistant Secretary
Kenneth Turner	Assistant Secretary Also present were:
George Flint	District Manager
Meredith Hammock	District Attorney by telephone
Rey Malave	District Engineer by telephone
Alan Scheerer	Field Manager

FIRST ORDER OF BUSINESS	Roll Call
Mr. Flint called the meeting to order and called the roll and stated I swore in Mr. Turner before the meeting.

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

THIRD ORDER OF BUSINESS	Approval of the Minutes of the May 24, 2022
Meeting

On MOTION by Mr. Giercyk seconded by Mr. Wong with all in favor the minutes of the May 24, 2022 meeting were approved as presented.

FOURTH ORDER OF BUSINESS	Public Hearing

On MOTION by Mr. Smyk seconded by Mr. Giercyk with all in favor the public hearing was opened.

Mr. Flint stated for the record we do have one member of the public here. There being no public comments or questions, we will close the floor to public comment and bring it back to the board.
The board previously approved a proposed budget and set today as the date, place and time for final consideration of fiscal year 2023 budget. During your discussion of the proposed budget one of the items you discussed was landscaping and in the calendar year you bid out landscaping and it appeared that the costs associated with the landscaping were going to come in significantly higher than your current contract and you directed staff to increase the landscape budget as a result of that to anticipate renewal of that contract. As a result of that those increases flowed through to the different communities and resulted in the need for us to do a mailed notice to everybody letting them know of the proposed increase and also of the hearing today. We did receive one phone call as a result of the mailed notice and Jason spoke with them.
Mr. Wong stated it is worth mentioning that the landscaping cost is going up in the order of $100,000 and that is double what we have been paying for the last couple of years. If it wasn’t for that I don’t think we would have had to raise the assessments.
Mr. Flint stated it is amazing that Down to Earth has done it for $85,000 for as long as they have. I think you found when you bid it out the market was actually closer to $200,000 for that work. You are doing the right thing in anticipating that in this budget.

Consideration of Resolution 2022-05 Adopting the Fiscal Year 2023 Budget and Relating to the Annual Appropriations
Mr. Flint stated Resolution 2022-05 adopts the budget and this proposed budget is Exhibit A to the resolution.

On MOTION by Mr. Smyk seconded by Mr. Wong with all in favor Resolution 2022-05 Adopting the Fiscal Year 2023 Budget and Relating to the Annual Appropriations was approved.

Consideration of Resolution 2022-06 Imposing Special Assessments and Certifying an Assessment Roll
Mr. Flint stated Resolution 2022-06 imposes the special assessments and attached is the adopted budget and the assessment roll listing the individual properties and the per unit amounts.
There being no public comment, the board took the following action.

On MOTION by Mr. Smyk seconded by Mr. Giercyk with all in favor Resolution 2022-06 Imposing Special Assessments and Certifying an Assessment Roll was approved.

On MOTION by Mr. Smyk seconded by Mr. Giercyk with all in favor the public hearing was closed.

FIFTH ORDER OF BUSINESS	Staff Reports
Attorney
There being none, the next item followed.

Engineer
Mr. Malave stated I presume on the sidewalk issue everybody has clarity on getting that cleared on the vegetation?
Mr. Giercyk stated I know that we initially started out with going 12”, I asked for 24” that was granted. I’m now being asked can we do 36” as a maximum.
Mr. Malave responded no, there would be areas where you could be encroaching into the wetland and we don’t want to get that close, 24” is the safest and should give you enough for the sidewalk to be able to get around.
Mr. Scheerer stated I will go with the contractor to measure everything out on those buffer sidewalk areas. I, Brigs Tree Service and Down to Earth will be onsite tomorrow morning at 9:00 a.m.
Mr. Gregoire stated the sidewalks outside Nona Crest gates have significant issues as a result of the breach from the oak tree. I know our contractor is starting at the gates flagging all the areas to begin the repairs. Do you know if he has flagged the areas outside the gates?
Mr. Scheerer responded not as of last Friday. I will be there again this week and look.

Mr. Gregoire stated we need to make sure to get all the sidewalks flagged, both inside and outside represents a hazard to pedestrians and we need to act like one large organization and make sure we get it done safely. Let me know what you find.
Mr. Giercyk stated the photos I sent Jason had a stretch of sidewalk on the west end of our community on Dowden Road, which has crumbled quite badly. How does that get handled?
Mr. Scheerer stated the City of Orlando owns the roads and sidewalks along Dowden Road. I can probably reach out to the road and bridge people and send them the pictures you sent me but the only thing we have is the interlocal for the landscape maintenance along Dowden Road and that is all we do. Any infrastructure along Dowden Road, sidewalks, road, drainage and things like that falls to the City of Orlando.
Mr. Flint stated it would probably help if you or the HOA sent something as well. They are more likely to listen to individual residents or homeowners’ associations than they are the CDD.

Manager
Approval of Check Register

On MOTION by Mr. Wong seconded by Mr. Smyk with all in favor the check register was approved.

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

Review of Fiscal Year 2023 Meeting Schedule
Mr. Flint stated we prepared the fiscal year 2023 meeting schedule indicating that you would meet Tuesday, November 22, 2022, January 24, 2023, March 28, 2024, May 23, 2023, July 25, 2023, and September 26th. There will be six meetings at our Lee Vista accounting office on 6200 Lee Vista Boulevard. If the board is not comfortable with those days, we can choose other days. November 22 is the week of Thanksgiving and you can move that a week earlier or a week later if you are concerned there may be an issue. You can change the 22nd to the 29th and that will probably work for us.

On MOTION by Mr. Smyk seconded by Mr. Giercyk with all in favor the fiscal year 2023 meeting schedule was approved as amended moving the November meeting to November 29, 2022.

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

SEVENTH ORDER OF BUSINESS	Supervisors Requests
Mr. Gregoire asked what dates do the terms expire in November?
Mr. Flint responded it is the second Tuesday after the election. The election is November 8th so it would be November 22nd that the current seats expire. That works out well for the November 29th meeting if there is any change in seats you can swear the board members in at that time.
Mr. Gregoire stated just to be clear and communicate, I will not be renewing my position in November. I have informed Jason of that.
Mr. Flint stated I haven’t had a lot of opportunity to work with you, but I know Jason and Alan think highly of you and are sorry to see you leave the board.
I don’t know offhand if anyone qualified to run for Mr. Gregoire’s seat if not, at the next meeting the board will need to declare that seat vacant as of the second Tuesday after the election and then at the November 29th meeting the board could appoint a supervisor to fill Mr. Gregoire’s seat.

EIGHTH ORDER OF BUSINESS	Next Meeting Date – September 27, 2022
Mr. Flint stated the next meeting is September 27, 2022.

On MOTION by Mr. Turner seconded by Mr. Smyk with all in favor the meeting adjourned at 3:20 p.m.

Secretary/Assistant Secretary	Chairman/Vice Chairman

Section IV

Presented By: MBS Capital Markets

Narcoossee
Community Development District
City of Orlando, Florida

September 27, 2022

TABLE OF CONTENTS

OVERVIEW – SERIES 2013A BONDS	Section 1
REFUNDING OPTIONS	Section 2
NEXT STEPS	Section 3
TIMETABLE	Section 4
DISCLOSURE	Section 5

OVERVIEW – SERIES 2013A BONDS	

Overview of Series 2013A BONDS

The Narcoossee Community Development District (the “District”) issued its $4,180,000 Special Assessment Refunding Bonds, Series 2013A-1 and 2013A-2 (the “Series 2013A Bonds) in February 2013.

The Series 2013 Bonds were issued to currently refund and redeem all of the outstanding principal amount of the District’s Series 2002A Bonds. The Series 2002A Bonds were issued to fund the cost of the stormwater management system, wastewater collection system, water distribution system, roadways, entry features, landscaping, irrigation and streetlighting.

The Series 2013 Bonds mature on May 1, 2033, and will be callable at the option of the District on or after May 1, 2023, at par. The interest rate on the Series 2013A Bonds ranges from 3.70 to 5.625% (shown below).

The Series 2013A Bonds may be currently refunded on February 1, 2023 (90 days prior to the call date).

The Series 2013A Bonds are secured by special assessments on approximately 769 assessable units identified in the Assessment Allocation Report dated February 27, 2013.

The total par amount of bonds outstanding as of 8/31/2022 is $2,645,000

Following is the status of the District’s Long-term Debt.

Series	
Outstanding Par	
Coupon	Current Annual Debt Service	Call Provisions	Call Premium	Final Maturity	
2013A-1	$135,000	3.70%				5/1/2023	
2013A-1	$140,000	3.75%				5/1/2024	
2013A-1	$145,000	3.90%				5/1/2025	
2013A-1	$310,000	4.0%				5/1/2027	
2013A-1	$1,095,000	4.15%				5/1/2033	
2013A-2	$820,000	5.625%		5/1/2023	Par	5/1/2033	

Current Year MMD Chart
(Municipal Market Data)

REFUNDING OPTIONS

Refunding Structures

Bank Placement

Given the credit dynamics of the District’s Bonds, this financing may lend itself to a bank placement.

Public Offering
MBS will pursue a dual-track process preparing for a public market offering at the same time as running a private placement process.

Necessity to obtain credit
rating (and possibly bond insurance if economically beneficial

Priced on Market Conditions
and Investor Interest

Typically higher net interest
cost, costs of issuance and reserve fund requirement

Potentially fewer covenants
and conditions for consideration than private placement structure

Slightly longer timeframe

Offering memorandum
required

Credit review but typically no requirement
to obtain a rating
*Usually requires 100% Absorption

Priced on LIBOR SWAP

Lower interest cost, costs of issuance and lower reserve fund requirement

Potential covenants and conditions for consideration not required in public offering structure

Slightly shorter timeframe	No requirement for offering
memorandum

Next Steps (Public Offering)

Step 1: Engage the Financing Team to prepare necessary bond documents.

Step 2: Approve Preliminary Engineer’s Report

Step 3: Approve Preliminary Assessment Methodology Report, Indenture and Bond Resolution (for validation)

Step 4: Due Diligence including research and credit work.

Step 5: Compile a credit package to submit to Rating Agency and Bond Insurer.

Marketing, Pre-closing on Bonds

Closing on Bonds

Transaction considerations (Public Offering)

Engage Financing Team, Preliminary Engineer’s Report and SAMR

Step 6: Public Hearing on Assessments

Step 7: Bond Validation Hearing (30-day appeal period) (if required)

Step 8: Board approval of Delegation Resolution

Step 9: Marketing of Bonds

Step 10: Finalize Bond Documents

Board Approves Delegation Resolution

Public Hearing on Assessments, Validation Hearing

Due Diligence, Prepare Credit Package and send to Rating Agency and Insurer

Step 11: Pre-closing, sign all bond documents.

Step 12: Close on Bonds

Timeline typically requires approximately 90-120 days to complete

Timetable – Public Offering

Day 1	Board Meeting:
Engage Financing Team
Preliminary Engineer’s Report
Day 30-35	Board Meeting:
Preliminary Assessment Methodology Report
Indenture, Bond Resolution
Credit Package sent to Rating Agency and Insurer
Day 60-65	Board Meeting:
Receive Indicative Bond Rating
Day 90-95	Board Meeting:
Board Approves Delegation Resolution
Day 95-100	Post PLOM
Day 100-105	Market, Price Bonds
Day 106-120	Preparation of Final Bond Documents
Day 120	Board Meeting - Pre-closing on Bonds
Day 122	Closing on Bonds (Target February 1, 2023)

Next Steps (Private Placement)

Step 1: Engage the Financing Team to prepare necessary bond documents.

Step 2: Approve Preliminary Engineer’s Report

Step 3: Approve Preliminary Assessment Methodology Report, Indenture and Bond Resolution (for validation)

Step 4: Due Diligence including research and credit work.

Step 5: Compile a credit package to submit to interested Banks

Step 6: Public Hearing on Assessments

Pre-closing on Bonds

Closing on Bonds

Transaction considerations (Private Placement)

Engage Financing Team, Preliminary Engineer’s Report and SAMR

Step 7: Bond Validation Hearing (30-day appeal period) (if required)

Step 8: Board approval of Bank Term Sheet

Step 9: Finalize Bond Documents

Step 10: Pre-closing, sign all bond documents.

Step 11: Close on Bonds

Board Approves Bank Term Sheet

Public Hearing on Assessments, Validation Hearing

Due Diligence, Prepare Credit Package and send to Banks

Timeline typically requires approximately 80-90 days to complete

Timetable – Private Placement (Bank)

Day 1	Board Meeting:
Engage Financing Team
Preliminary Engineer’s Report

Day 30-35	Board Meeting:
Preliminary Assessment Methodology Report
Indenture, Bond Resolution
Credit Package sent to interested Banks

Day 60-65	Board Meeting:
Review and Approve Term Sheet from Bank

Day 65-80	Preparation of Final Bond Documents

Day 90	Board Meeting - Pre-closing on Bonds

Day 92	Closing on Bonds (Target February 1, 2023)

Disclosures Concerning the Underwriter’s Role

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

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

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

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

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

Disclosure Concerning the Underwriter’s Compensation

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

Conflicts of Interest

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

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

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

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

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

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

Disclosures Concerning Complex Municipal Securities Financing

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

Section V

AGREEMENT FOR UNDERWRITING SERVICES NARCOOSSEE COMMUNITY DEVELOPMENT DISTRICT

August 31, 2022

Board of Supervisors
Narcoossee Community Development District

Dear Supervisors:

MBS Capital Markets, LLC (the “Underwriter”) offers to enter into this agreement (the “Agreement”) with the Narcoossee Community Development District (the “District”) which, upon your acceptance of this offer, will be binding on the District and the Underwriter. This agreement relates to the proposed issuance of the District’s Series 2023 Bonds (the “Bonds”) for the purpose of refunding the District’s outstanding Series 2013 Bonds (the “Prior Bonds”). This Agreement will cover the engagement for the Bonds and will be supplemented for future bond issuances as may be applicable.

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

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

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

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

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

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

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

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

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

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

Sincerely,
MBS Capital Markets, LLC

Rhonda Mossing

Rhonda Mossing Managing Partner

Approved and Accepted By:		

Title:		

Date:		

EXHIBIT A

Disclosures Concerning the Underwriter’s Role

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

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

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

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

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

Disclosure Concerning the Underwriter’s Compensation

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

Conflicts of Interest

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

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

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

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

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

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

Disclosures Concerning Complex Municipal Securities Financing

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

Section VII

Section C

Section 1

Narcoossee
Community Development District
Summary of Check Register

July 1, 2022 to August 31, 2022

	Fund	Date	Check No.'s		Amount		

General Fund		
7/6/22	
2096	
$		
1,749.47	
		7/13/22	2097 - 2100	$		17,975.91	
		7/26/22	2101 - 2104	$		4,207.00	
		8/4/22	2105 - 2106	$		2,891.73	
		8/10/22	2107 - 2108	$		9,851.65	
		8/16/22	2109 - 2111	$		46,366.57	
		8/23/22	2112	$		253.00	
				$		83,295.33	

Capital Reserve - Nona Preserve	
8/10/22	
5	
$	
2,459.20	
			$	2,459.20	
		Total	$	85,754.53	

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	9/19/22	PAGE	1
*** CHECK DATES 07/01/2022 - 08/31/2022 ***	NARCOOSSEE-GENERAL FUND
BANK A NARCOOSSEE-GENERAL
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
7/06/22 00069	6/30/22 INV12947 202206 320-53800-46400	*	1,749.47 IRRIGATION REPAIR 6/17/22
DOWN TO EARTH LAWNCARE II, INC	1,749.47 002096
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/13/22 00069	7/01/22 INV12980 202207 340-53800-46200	*	2,523.50 LANDSCAPE MAINT NP JUL 22
7/01/22 INV12980 202207 320-53800-46200	*	1,754.43 LANDSCAPE MAINT NC JUL 22
7/01/22 INV12980 202207 330-53800-46200	*	3,076.50 LANDSCAPE MAINT LV JUL 22
7/01/22 INV12980 202207 350-53800-46200	*	1,095.00 LANDSCAPE MAINT GH JUL 22
DOWN TO EARTH LAWNCARE II, INC	8,449.43 002097
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/13/22 00043	7/01/22 418	202207 310-51300-34000	*	3,914.25
MANAGEMENT FEES - JUL 22
7/01/22 418	202207 310-51300-35200	*	100.00
WEBSITE MANAGEMENT-JUL 22
7/01/22 418	202207 310-51300-35100	*	100.00
INFORMATION TECH - JUL 22
7/01/22 418	202207 310-51300-31300	*	104.17

	7/01/22	
	7/01/22	
	7/01/22	
	7/01/22	
	7/01/22	
	7/01/22	

DISSEMINATION SVCS-JUL 22
418	202207 310-51300-51000	*	.18
OFFICE SUPPLIES
418	202207 310-51300-42000	*	3.18
POSTAGE
419	202207 320-53800-12000	*	357.42
FIELD MANAGEMENT - JUL 22
419	202207 330-53800-12000	*	915.08
FIELD MANAGEMENT - JUL 22
419	202207 340-53800-12000	*	394.58
FIELD MANAGEMENT - JUL 22
419	202207 350-53800-12000	*	235.67
FIELD MANAGEMENT - JUL 22
GOVERNMENTAL MANAGEMENT SERVICES	6,124.53 002098
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/13/22 00087	7/06/22 3071	202206 310-51300-31500	*	292.00
GEN.COUNSEL/MTHLY MEETING
KE LAW GROUP, PLLC	292.00 002099
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/13/22 00034	7/08/22 07082022 202207 300-20700-10500	*	3,109.95
TSFR TAX RECEIPTS S2013
NARCOOSSEE CDD C/O US BANK	3,109.95 002100
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/26/22 00022	6/30/22 203742	202206 330-53800-46300	*	368.75
POND MAINT LV JUNE 22
NARC -NARCOOSSEE -	ZYAN

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	9/19/22	PAGE	2
*** CHECK DATES 07/01/2022 - 08/31/2022 ***	NARCOOSSEE-GENERAL FUND
BANK A NARCOOSSEE-GENERAL
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
6/30/22 203742	202206 350-53800-46300	*	131.25
POND MAINT GH JUNE 22
6/30/22 203744	202206 320-53800-46300	*	348.00
POND MAINT NC JUNE 22
6/30/22 203746	202206 340-53800-46300	*	350.00
POND MAINT NP JUNE 22
APPLIED AQUATIC MANAGEMENT, INC.	1,198.00 002101
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/26/22 00080	5/27/22 5062	202205 320-53800-46000	*	325.00
REMOVED OLD SIGN BY GATES
BERRY CONSTRUCTION OF CENTRAL FL	325.00 002102
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/26/22 00045	5/13/22 22598	202205 310-51300-31700	*	600.00
ARBITRAGE FYE 09/30/2021
GRAU & ASSOCIATES	600.00 002103
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
7/26/22 00003	6/30/22 05623959 202206 310-51300-48000	*	2,084.00
CLASSIFIED/ADVERTISING
ORLANDO SENTINEL COMMUNICATIONS	2,084.00 002104
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/04/22 00069	7/14/22 INV13061 202203 330-53800-46400	*	158.16
IRRIGATION REPAIR 3/08/22
7/14/22 INV13061 202205 320-53800-46400	*	81.07
IRRIGATION REPAIR 5/27/22
DOWN TO EARTH LAWNCARE II, INC	239.23 002105
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/04/22 00072	3/18/22 2091619	202202 310-51300-31100	*	337.50
GENERAL ENGINEERING FEB22
7/15/22 2157509	202206 310-51300-31100	*	2,315.00
STORMWATER ANALYSIS 6/22
DEWBERRY ENGINEERS INC.	2,652.50 002106
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/10/22 00022	7/31/22 204474	202207 330-53800-46300	*	368.75
POND MAINT LV JULY 22
7/31/22 204474	202207 350-53800-46300	*	131.25
POND MAINT GH JULY 22
7/31/22 204476	202207 320-53800-46300	*	348.00
POND MAINT NC JULY 22
7/31/22 204478	202207 340-53800-46300	*	350.00
POND MAINT NP JULY 22
APPLIED AQUATIC MANAGEMENT, INC.	1,198.00 002107
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/10/22 00069	7/29/22 INV13161 202207 330-53800-46400	*	286.25
IRRIGATION REPAIR 7/29/22
8/01/22 INV13190 202208 330-53800-46200	*	4,131.00 LANDSCAPE MAINT LV AUG 22
NARC -NARCOOSSEE -	ZYAN

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	9/19/22	PAGE	3
*** CHECK DATES 07/01/2022 - 08/31/2022 ***	NARCOOSSEE-GENERAL FUND
BANK A NARCOOSSEE-GENERAL
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
8/01/22 INV13190 202208 320-53800-46200	*	1,737.40 LANDSCAPE MAINT NC AUG 22
8/01/22 INV13190 202208 340-53800-46200	*	2,499.00 LANDSCAPE MAINT NP AUG 22
DOWN TO EARTH LAWNCARE II, INC	8,653.65 002108

8/16/22 00043	8/01/22	
	8/01/22	
	8/01/22	
	8/01/22	
	8/01/22	
	8/01/22	
	8/01/22	
	8/01/22	
	8/01/22	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
420	202208 310-51300-34000	*	3,914.25
MANAGEMENT FEES - AUG 22
420	202208 310-51300-35200	*	100.00
WEBSITE MANAGEMENT-AUG 22
420	202208 310-51300-35100	*	100.00
INFORMATION TECH - AUG 22
420	202208 310-51300-31300	*	104.17

202208 310-51300-42500	*	58.35	
202208 320-53800-12000	*	357.42	

DISSEMINATION SVCS-AUG 22
420
COPIES 421
FIELD MANAGEMENT - AUG 22
421	202208 330-53800-12000	*	915.08
FIELD MANAGEMENT - AUG 22
421	202208 340-53800-12000	*	394.58
FIELD MANAGEMENT - AUG 22
421	202208 350-53800-12000	*	235.67
FIELD MANAGEMENT - AUG 22
GOVERNMENTAL MANAGEMENT SERVICES	6,179.52 002109
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/16/22 00034	8/16/22 08162022 202208 300-20700-10500	*	38,103.05
TSFR TAX RECEIPTS S2013
NARCOOSSEE CDD C/O US BANK	38,103.05 002110
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/16/22 00003	7/31/22 05801092 202207 310-51300-48000	*	2,084.00
CLASSIFIED/ADVERTISING
ORLANDO SENTINEL COMMUNICATIONS	2,084.00 002111
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
8/23/22 00087	8/11/22 3652	202207 310-51300-31500	*	253.00
GEN.COUNSEL/MTHLY MEETING
KE LAW GROUP, PLLC	253.00 002112
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A	83,295.33
TOTAL FOR REGISTER	83,295.33

NARC -NARCOOSSEE -	ZYAN

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	9/19/22	PAGE	1
*** CHECK DATES 07/01/2022 - 08/31/2022 ***	CAPITAL RESERVES-NONA PRESERVE
BANK B NONA PRESERVE
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
8/10/22 00004	7/29/22 INV13161 202207 600-53800-53000	*	2,459.20 LIMB UP 16 TREES
DOWN TO EARTH LANDSCAPE &	2,459.20 000005
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK B	2,459.20
TOTAL FOR REGISTER	2,459.20

NARC -NARCOOSSEE -	ZYAN

Section 2

Narcoossee
Community Development District

Unaudited Financial Reporting
August 31, 2022

Table of Contents

1		Balance Sheet	

2-3	
	General Fund	

4	
	Debt Service Fund Series 2013 A-1 & A-2	

5	
	Capital Reserves Fund - Nona Crest	

6	
	Capital Reserves Fund - La Vina	

7	
	Capital Reserves Fund - Nona Preserve	

8	
	Capital Reserves Fund - Parcels G&H	

9-10	
	Month to Month	

11	
	Long Term Debt	

12	
	Assessment Receipt Schedule	

Combined Balance Sheet August 31, 2022

	General Fund	Debt Service Fund	Capital Reserve Funds	Totals Governmental Funds	
Assets:
Cash:
Operating Account	

$	167,520	$	

-	$	

-	

$	167,520	
Capital Reserve Nona Preserve	$	-	$	-	$	43,256	$	43,256	
Capital Reserve Parcels G&H	$	-	$	-	$	73,790	$	73,790	
Capital Reserve Nona Crest	$	-	$	-	$	83,096	$	83,096	
Capital Reserve La Vina
Investments:	$	-	$	-	$	51,646	$	51,646	
Custody - Excess Funds Series 2013 A-1/A-2
Reserve A-1	$

$	27,281	$	-

-	$	104,321	$

$	-	$	27,281

-	$	104,321	
Prepayment A-1	$	-	$	692	$	-	$	692	
Reserve A-2	$	-	$	51,289	$	-	$	51,289	
Revenue	$	-	$	233,849	$	-	$	233,849	
Excess Revenue	$	-	$	0	$	-	$	0	
Total Assets	$	194,802	$	390,152	$	251,788	$	836,741	

Liabilities:
Accounts Payable	

$	1,707	$	

-	$	-	

$	1,707	
Total Liabilites	$	1,707	$	-	$	-	$	1,707	

Fund Balance:
Assigned for:
Capital Reserves - Nona Preserve	

$	-	$	

-	$	43,256	

$	43,256	
Capital Reserves - Parcels G&H	$	-	$	-	$	73,790	$	73,790	
Capital Reserves - Nona Crest	$	-	$	-	$	83,096	$	83,096	
Capital Reserves - La Vina	$	-	$	-	$	51,646	$	51,646	
Restricted for:
Debt Service Series 2013 A-1 & A-2	
$	-	
$	390,152	$	
-	$	390,152	
Unassigned	$	193,095	$	-	$	-	$	193,095	
Total Fund Balances	$	193,095	$	390,152	$	251,788	$	835,035	
					
Total Liabilities & Fund Balance	$	194,802	$	390,152	$	251,788	$	836,741	

Adopted	Prorated Budget	Actual	
Budget	Thru 08/31/22	Thru 08/31/22	Variance	

Revenues:

Maintenance Assessments	$	315,353	$	315,353	$	322,332	$	6,979	
Interest Income	$	-	$	-	$	74	$	74	
Total Revenues	$	315,353	$	315,353	$	322,406	$	7,053	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	6,000	$	5,500	$	4,200	$	1,300	
FICA Expense	$	459	$	421	$	321	$	99	
Engineering Fees	$	7,800	$	7,150	$	7,760	$	(610)	
Assessment Roll	$	5,000	$	5,000	$	5,000	$	-	
Attorney	$	12,000	$	11,000	$	3,948	$	7,052	
Annual Audit	$	2,895	$	2,895	$	2,895	$	-	
Dissemination Agent	$	1,250	$	1,146	$	1,146	$	(0)	
Arbitrage	$	600	$	600	$	600	$	-	
Trustee Fees	$	3,000	$	2,963	$	2,963	$	-	
Management Fees	$	46,971	$	43,057	$	43,057	$	0	
Information Technology	$	1,200	$	1,100	$	1,100	$	-	
Website Maintenance	$	1,200	$	1,100	$	1,100	$	-	
Telephone	$	25	$	23	$	-	$	23	
Postage	$	450	$	413	$	329	$	84	
Insurance	$	24,840	$	24,840	$	23,374	$	1,466	
Printing & Binding	$	200	$	183	$	71	$	112	
Legal Advertising	$	1,900	$	1,742	$	4,572	$	(2,830)	
Other Current Charges	$	2,000	$	1,833	$	1,167	$	667	
Property Appraiser	$	780	$	-	$	-	$	-	
Office Supplies	$	50	$	46	$	2	$	44	
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-	
Contingency	$	274	$	251	$	-	$	251	
Subtotal General & Administrative	$	119,069	$	111,437	$	103,780	$	7,658	

Operations & Maintenance:					
Nona Crest
Field Management	
$	4,289	
$	3,932	
$	3,932	
$	(0)	
Landscape Maintenance	$	26,053	$	23,882	$	18,941	$	4,941	
Irrigation Repairs	$	3,500	$	3,208	$	5,191	$	(1,983)	
Lake Maintenance	$	4,350	$	3,988	$	3,828	$	160	
Wall Repairs/Cleaning	$	2,500	$	2,292	$	1,277	$	1,015	
Feature Lighting	$	1,000	$	917	$	-	$	917	
Miscellaneous Common Area	$	1,224	$	1,122	$	1,110	$	12	
Subtotal Nona Crest	$	42,916	$	39,339	$	34,278	$	5,061	

Adopted	Prorated Budget	Actual	
Budget	Thru 08/31/22	Thru 08/31/22	Variance	

La Vina
Field Management	
$	10,981	
$	10,066	
$	10,066	
$	(0)	
Landscape Maintenance	$	38,762	$	35,531	$	33,216	$	2,315	
Irrigation Repairs	$	10,500	$	9,625	$	4,639	$	4,986	
Lake Maintenance	$	4,573	$	4,191	$	4,056	$	135	
Utilities	$	8,340	$	7,645	$	4,706	$	2,939	
Wall Repairs/Cleaning	$	3,000	$	2,750	$	311	$	2,440	
Solvino Streetlighting	$	2,710	$	2,484	$	2,524	$	(39)	
Capri Streetlighting	$	3,850	$	3,529	$	3,589	$	(60)	
Miscellaneous Common Area	$	10,691	$	9,800	$	75	$	9,725	
Subtotal La Vina	$	93,406	$	85,622	$	63,181	$	22,440	

Nona Preserve
Field Management	

$	4,735	

$	4,340	

$	4,340	

$	(0)	
Landscape Maintenance	$	29,400	$	26,950	$	27,244	$	(294)	
Irrigation Repairs	$	3,480	$	2,616	$	2,616	$	-	
Lake Maintenance	$	4,200	$	3,850	$	3,850	$	-	
Miscellaneous Common Area	$	58	$	53	$	-	$	53	
Subtotal Nona Preserve	$	41,873	$	37,810	$	38,050	$	(241)	

Parcels G & H
Field Management	

$	2,828	

$	2,593	

$	2,592	

$	0	
Landscape Maintenance	$	13,687	$	12,546	$	11,820	$	726	
Lake Maintenance	$	1,575	$	1,444	$	1,444	$	-	
Subtotal Parcels G & H	$	18,090	$	16,583	$	15,856	$	727	
					
Total Expenditures	$	315,353	$	290,791	$	255,146	$	35,645	
					
Excess (Deficiency) of Revenues over Expenditures	$	0		$	67,261		

Other Financing Sources/(Uses):					
Capital Reserve Transfer Out	$	(32,846)	$	-	$	-	$	-	
Total Other Financing Sources/(Uses)	$	(32,846)	$	-	$	-	$	-	
					
Net Change in Fund Balance	$	(32,846)		$	67,261		
					
Fund Balance - Beginning	$	32,846		$	125,835		
					
Fund Balance - Ending	$	0		$	193,095		

Debt Service Fund Series 2013
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending August 31, 2022

Adopted	Prorated Budget	Actual	
Budget	Thru 08/31/22	Thru 08/31/22	Variance	

Revenues:		
Assessments - Tax Roll	$	317,131	$	317,131	$	324,639	$	7,508	
Interest	$	100	$	92	$	620	$	528	
Total Revenues	$	317,231	$	317,223	$	325,258	$	8,035	

Expenditures:					
Series 2013 A-1
Interest - 11/1	
$	39,146	
$	39,146	
$	39,146	
$	-	
Principal - 5/1	$	130,000	$	130,000	$	130,000	$	-	
Interest - 5/1	$	39,146	$	39,146	$	39,146	$	-	
Series 2013 A-2
Interest - 11/1	
$	24,472	
$	24,472	
$	24,472	
$	-	
Principal - 5/1	$	55,000	$	55,000	$	55,000	$	-	
Interest - 5/1	$	24,472	$	24,472	$	24,472	$	-	
Total Expenditures	$	312,236	$	312,236	$	312,236	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	4,995		$	13,022		
					
Fund Balance - Beginning	$	211,305		$	377,130		
					
Fund Balance - Ending	$	216,300		$	390,152		

Narcoossee
Community Development District Capital Reserve Fund - Nona Crest
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending August 31, 2022

Adopted	Prorated Budget	Actual	
Budget	Thru 08/31/22	Thru 08/31/22	Variance	

Revenues		
Interest	$	-	$	-	$	8	$	8	
Total Revenues	$	-	$	-	$	8	$	8	

Expenditures:					
Capital Projects	$	2,500	$	2,500	$	9,915	$	(7,415)	
Contingency	$	-	$	-	$	394	$	(394)	
Total Expenditures	$	2,500	$	2,500	$	10,309	$	(7,809)	
					
Excess (Deficiency) of Revenues over Expenditures	$	(2,500)		$	(10,301)		

Other Financing Sources/(Uses)					
Transfer In/(Out)	$	5,267	$	-	$	-	$	-	
Total Other Financing Sources (Uses)	$	5,267	$	-	$	-	$	-	
					
Net Change in Fund Balance	$	2,767		$	(10,301)		
					
Fund Balance - Beginning	$	93,483		$	93,397		
					
Fund Balance - Ending	$	96,251		$	83,096		

Narcoossee
Community Development District Capital Reserve Fund - La Vina
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending August 31, 2022

Adopted	Prorated Budget	Actual	
Budget	Thru 08/31/22	Thru 08/31/22	Variance	

Revenues		
Interest	$	-	$	-	$	5	$	5	
Total Revenues	$	-	$	-	$	5	$	5	

Expenditures:					
Capital Projects	$	2,500	$	-	$	-	$	-	
Repairs and Maintenance	$	32,000	$	-	$	-	$	-	
Stormwater Cleanup	$	-	$	-	$	15,230	$	(15,230)	
Contingency	$	-	$	-	$	394	$	(394)	
Total Expenditures	$	34,500	$	-	$	15,624	$	(15,624)	
					
Excess (Deficiency) of Revenues over Expenditures	$	(34,500)		$	(15,619)		

Other Financing Sources/(Uses)					
Transfer In/(Out)	$	18,666	$	-	$	-	$	-	
Total Other Financing Sources (Uses)	$	18,666	$	-	$	-	$	-	
					
Net Change in Fund Balance	$	(15,834)		$	(15,619)		
					
Fund Balance - Beginning	$	54,643		$	67,265		
					
Fund Balance - Ending	$	38,809		$	51,646		

Revenues					
Interest	$	-	$	-	$	4	$	4	
Total Revenues	$	-	$	-	$	4	$	4	

Expenditures:					
Capital Projects	$	2,500	$	-	$	-	$	-	
Contingency	$	-	$	-	$	2,853	$	(2,853)	
Total Expenditures	$	2,500	$	-	$	2,853	$	(2,853)	
					
Excess (Deficiency) of Revenues over Expenditures	$	(2,500)		$	(2,849)		

Other Financing Sources/(Uses)					
Transfer In/(Out)	$	25	$	-	$	-	$	-	
Total Other Financing Sources (Uses)	$	25	$	-	$	-	$	-	
					
Net Change in Fund Balance	$	(2,475)		$	(2,849)		
					
Fund Balance - Beginning	$	45,363		$	46,105		
					
Fund Balance - Ending	$	42,889		$	43,256		

Revenues					
Interest	$	-	$	-	$	7	$	7	
Total Revenues	$	-	$	-	$	7	$	7	

Expenditures:					
Capital Projects	$	2,000	$	-	$	-	$	-	
Contingency	$	-	$	-	$	394	$	(394)	
Total Expenditures	$	2,000	$	-	$	394	$	(394)	
					
Excess (Deficiency) of Revenues over Expenditures	$	(2,000)		$	(387)		

Other Financing Sources/(Uses)					
Transfer In/(Out)	$	8,889	$	-	$	-	$	-	
Total Other Financing Sources (Uses)	$	8,889	$	-	$	-	$	-	
					
Net Change in Fund Balance	$	6,889		$	(387)		
					
Fund Balance - Beginning	$	69,436		$	74,177		
					
Fund Balance - Ending	$	76,325		$	73,790		

	Oct		Nov	Dec	Jan	Feb	March	April	May		June	July	Aug	Sept		Total	

Revenues:																	
Maintenance Assessments	$	-	$	19,112  $	84,311  $	124,828  $	26,937  $	13,192  $	8,555	$	4,478	$	3,088  $	35,722	$	2,111	$	-	$	322,332	
Interest Income	$	0  $	0  $	1  $	0  $	0  $	0  $	2	$	4	$	13  $	21	$	32	$	-  $	74	
Total Revenues	$	0	$	19,113	$	84,312	$	124,828	$	26,937	$	13,193	$	8,557	$	4,482	$	3,101	$	35,743	$	2,142	$	-	$  322,406	

Expenditures:													
General & Administrative:													
Supervisor Fees	$	1,000	$	800	$	-	$	-	$	-	$	800	$	-	$	800	$	-	$	-	$	800	$	-  $	4,200	
FICA Expense	$	77	$	61	$	-	$	-	$	-	$	61	$	-	$	61	$	-	$	-	$	61	$	-  $	321	
Engineering Fees	$	510	$	-	$	-	$	-	$	338	$	255	$	3,038	$	1,163	$	2,315	$	143	$	-	$	-  $	7,760	
Assessment Roll	$	5,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	5,000	
Attorney	$	169	$	1,800	$	550	$	369	$	267	$	140	$	-	$	-	$	292	$	253	$	110	$	-  $	3,948	
Annual Audit	$	-	$	-	$	-	$	-	$	-	$	2,895	$	-	$	-	$	-	$	-	$	-	$	-  $	2,895	
Dissemination Agent	$	104	$	104	$	104	$	104	$	104	$	104	$	104	$	104	$	104	$	104	$	104	$	-  $	1,146	
Arbitrage	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	600	$	-	$	-	$	-	$	-  $	600	
Trustee Fees	$	-	$	-	$	-	$	-	$	-	$	2,963	$	-	$	-	$	-	$	-	$	-	$	-  $	2,963	
Management Fees	$	3,914	$	3,914	$	3,914	$	3,914	$	3,914	$	3,914	$	3,914	$	3,914	$	3,914	$	3,914	$	3,914	$	-  $	43,057	
Information Technology	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	-  $	1,100	
Website Maintenance	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	-  $	1,100	
Telephone	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-	
Postage	$	9	$	214	$	4	$	2	$	10	$	5	$	13	$	23	$	44	$	3	$	-	$	-  $	329	
Insurance	$	23,374	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	23,374	
Printing & Binding	$	1	$	-	$	-	$	-	$	2	$	-	$	2	$	-	$	7	$	-	$	58	$	-  $	71	
Legal Advertising	$	219	$	-	$	-	$	-	$	-	$	-	$	-	$	185	$	2,084	$	2,084	$	-	$	-  $	4,572	
Other Current Charges	$	92	$	99	$	99	$	85	$	65	$	108	$	117	$	125	$	122	$	130	$	124	$	-  $	1,167	
Property Appraiser	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-	
Office Supplies	$	0	$	-	$	0	$	0	$	0	$	0	$	0	$	0	$	0	$	0	$	-	$	-  $	2	
Dues, Licenses & Subscriptions	$	175	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	175	
Contingency	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-	
Subtotal General & Administrative	$	34,844	$	7,193	$	4,872	$	4,675	$	4,900	$	11,446	$	7,388	$	7,176	$	9,083	$	6,832	$	5,372	$	-  $  103,780	

Operations & Maintenance													
Nona Crest
Field Management	

$	357	

$	357	

$	357	

$	357	

$	357	

$	357	

$	357	

$	357	

$	357	

$	357	

$	357	

$	-  $	3,932	
Landscape Maintenance	$	1,703	$	1,703	$	1,703	$	1,703	$	1,703	$	1,703	$	1,737	$	1,737	$	1,754	$	1,754	$	1,737	$	-  $	18,941	
Irrigation Repairs	$	777	$	-	$	464	$	1,313	$	-	$	-	$	-	$	823	$	1,749	$	-	$	64	$	-  $	5,191	
Lake Maintenance	$	348	$	348	$	348	$	348	$	348	$	348	$	348	$	348	$	348	$	348	$	348	$	-  $	3,828	
Wall Repairs/Cleaning	$	-	$	-	$	-	$	-	$	-	$	1,277	$	-	$	-	$	-	$	-	$	-	$	-  $	1,277	
Feature Lighting	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-	
Miscellaneous Common Area	$	-	$	-	$	-	$	-	$	785	$	-	$	-	$	325	$	-	$	-	$	-	$	-  $	1,110	
Subtotal Nona Crest	$	3,186	$	2,409	$	2,873	$	3,722	$	3,194	$	3,685	$	2,443	$	3,591	$	4,209	$	2,460	$	2,506	$	-  $	34,278	

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total

La Vina
Field Management Landscape Maintenance Irrigation Repairs
Lake Maintenance Utilities
Wall Repairs/Cleaning Solvino Streetlighting Capri Streetlighting
Miscellaneous Common Area

$	915  $
$	2,987  $
$	2,140  $
$	369  $
$	574  $
$	-  $
$	228  $
$	324  $
$	-  $

915  $
2,987  $
309  $
369  $
521  $
-  $
228  $
324  $
-  $

915  $
2,987  $
48  $
369  $
386  $
-  $
228  $
324  $
75  $

915  $
2,987  $
705  $
369  $
415  $
-  $
230  $
327  $
-  $

915  $
2,987  $
940  $
369  $
349  $
-  $
230  $
327  $
-  $

915  $
2,987  $
211  $
369  $
388  $
311  $
230  $
327  $
-  $

915  $
3,047  $
-  $
369  $
354  $
-  $
230  $
327  $
-  $

915  $
3,047  $
-  $
369  $
398  $
-  $
230  $
327  $
-  $

915  $
3,077  $
-  $
369  $
410  $
-  $
230  $
327  $
-  $

915  $
3,077  $
286  $
369  $
436  $
-  $
230  $
327  $
-  $

915  $
3,047  $
-  $
369  $
476  $
-  $
230  $
327  $
-  $

-  $	10,066
-  $	33,216
-  $	4,639
-  $	4,056
-  $	4,706
-  $	311
-  $	2,524
-  $	3,589
-  $	75

Subtotal La Vina	$	7,537  $	5,653  $	5,332  $	5,948  $	6,116  $	5,737  $	5,242  $	5,286  $	5,327  $	5,639  $	5,364  $	-  $	63,181

Nona Preserve
Field Management Landscape Maintenance Irrigation Repairs

Subtotal Nona Preserve	$	4,872  $	3,738  $	3,410  $	3,396  $	2,980  $	3,195  $	3,244  $	3,244  $	3,268  $	3,268  $	3,437  $	-  $	38,050

Lake Maintenance Miscellaneous Common Area

$	395  $
$	2,450  $
$	1,677  $
$	350  $
$	-  $

395  $
2,450  $
544  $
350  $
-  $

395  $
2,450  $
215  $
350  $
-  $

395  $
2,450  $
202  $
350  $
-  $

395  $
2,450  $
(215) $
350  $
-  $

395  $
2,450  $
-  $
350  $
-  $

395  $
2,499  $
-  $
350  $
-  $

395  $
2,499  $
-  $
350  $
-  $

395  $
2,524  $
-  $
350  $
-  $

395  $
2,524  $
-  $
350  $
-  $

395  $
2,499  $
193  $
350  $
-  $

-  $	4,340
-  $	27,244
-  $	2,616
-  $	3,850
-  $	-

Parcels G & H

Subtotal Parcels G & H	$	1,430  $	1,430  $	1,430  $	1,430  $	1,430  $	1,430  $	1,451  $	1,451  $	1,462  $	1,462  $	1,451  $	-  $	15,856

Field Management Landscape Maintenance Lake Maintenance

$	236  $
$	1,063  $
$	131  $

236  $
1,063  $
131  $

236  $
1,063  $
131  $

236  $
1,063  $
131  $

236  $
1,063  $
131  $

236  $
1,063  $
131  $

236  $
1,084  $
131  $

236  $
1,084  $
131  $

236  $
1,095  $
131  $

236  $
1,095  $
131  $

236  $
1,084  $
131  $

-  $	2,592
-  $	11,820
-  $	1,444

Total Expenditures	$	51,869  $	20,422  $	17,916  $	19,171  $	18,620  $	25,493  $	19,768  $	20,747  $	23,349  $	19,661  $	18,130  $	-  $  255,146

Excess Revenues (Expenditures)	$	(51,869)  $	(1,310)  $	66,395  $	105,657  $	8,317  $	(12,300)  $	(11,211)  $	(16,265)  $	(20,249)  $	16,082  $	(15,987)  $	-  $	67,261

Other Financing Sources/Uses:

Capital Reserve Transfer Out

$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $

-  $	-  $

-  $	-  $	-

Total Other Financing Sources/Uses	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-

Net Change in Fund Balance	$	(51,869) $	(1,310) $	66,395  $	105,657  $	8,317  $	(12,300) $	(11,211) $	(16,265) $	(20,249) $	16,082  $	(15,987) $	-  $	67,261

Narcoossee
Community Development District LONG TERM DEBT REPORT

SERIES 2013A-1, SPECIAL ASSESSMENT REFUNDING BONDS	
MATURITY DATE:	5/1/2033	
RESERVE FUND DEFINITION	50% OF MAXIMUM ANNUAL DEBT SERVICE	
RESERVE FUND REQUIREMENT	$104,321	
RESERVE FUND BALANCE	$104,321	
BONDS OUTSTANDING - 9/30/13	$2,885,000	
LESS: PRINCIPAL PAYMENT 5/1/14	($110,000)	
LESS: PRINCIPAL PAYMENT 5/1/15	($110,000)	
LESS: PRINCIPAL PAYMENT 5/1/16	($110,000)	
LESS: PRINCIPAL PAYMENT 5/1/17	($115,000)	
LESS: PRINCIPAL PAYMENT 5/1/18	($115,000)	
LESS: PRINCIPAL PAYMENT 5/1/19	($120,000)	
LESS: PRINCIPAL PAYMENT 5/1/20	($125,000)	
LESS: PRINCIPAL PAYMENT 5/1/21	($125,000)	
LESS: PRINCIPAL PAYMENT 5/1/22	($130,000)	
CURRENT BONDS OUTSTANDING	$1,825,000	

SERIES 2013A-2, SPECIAL ASSESSMENT REFUNDING BONDS	
MATURITY DATE:	5/1/2033	
RESERVE FUND DEFINITION	50% OF MAXIMUM ANNUAL DEBT SERVICE	
RESERVE FUND REQUIREMENT	$51,289	
RESERVE FUND BALANCE	$51,289	
BONDS OUTSTANDING - 9/30/13	$1,295,000	
LESS: PRINCIPAL PAYMENT 11/1/13	($70,000)	
LESS: PRINCIPAL PAYMENT 5/1/14	($35,000)	
LESS: PRINCIPAL PAYMENT 5/1/15	($35,000)	
LESS: PRINCIPAL PAYMENT 5/1/15	($10,000)	
LESS: PRINCIPAL PAYMENT 5/1/16	($40,000)	
LESS: PRINCIPAL PAYMENT 5/1/17	($40,000)	
LESS: PRINCIPAL PAYMENT 5/1/18	($45,000)	
LESS: PRINCIPAL PAYMENT 5/1/19	($45,000)	
LESS: PRINCIPAL PAYMENT 5/1/20	($50,000)	
LESS: PRINCIPAL PAYMENT 5/1/21	($50,000)	
LESS: PRINCIPAL PAYMENT 5/1/22	($55,000)	
CURRENT BONDS OUTSTANDING	$820,000	

Narcoossee
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts Fiscal Year 2022

ON ROLL ASSESSMENTS

Gross Assessments	$ Net Assessments	$

335,455.07  $
315,327.77  $

337,855.13  $
317,583.82  $

673,310.20
632,911.59

49.82%	50.18%	100.00%

Date	
Distribution	
Gross Amount	
Commissions	
Discount/Penalty	
Interest	
Net Receipts	
O&M Portion	Series 2013 Debt Service	
Total	

11/8/21	
#1	
$2,269.14	
$0.00	
($110.65)	
$0.00	
$2,158.49	
$1,075.40	
$1,083.09	
$2,158.49	
11/15/21	#2	$9,964.65	$0.00	($398.56)	$0.00	$9,566.09	$4,766.00	$4,800.09	$9,566.09	
11/22/21	#3	$27,746.10	$0.00	($1,109.81)	$0.00	$26,636.29	$13,270.67	$13,365.62	$26,636.29	
12/06/21	#4	$27,070.05	$0.00	($1,082.74)	$0.00	$25,987.31	$12,947.34	$13,039.97	$25,987.31	
12/13/21	#5	$133,040.03	$0.00	($5,321.48)	$0.00	$127,718.55	$63,631.64	$64,086.91	$127,718.55	
12/20/21	#6	$16,157.37	$0.00	($646.26)	$8.41	$15,519.52	$7,732.10	$7,787.42	$15,519.52	
01/14/22	#7	$260,987.47	$0.00	($10,438.99)	$0.00	$250,548.48	$124,827.69	$125,720.79	$250,548.48	
02/14/22	#8	$48,854.07	$0.00	($1,954.04)	$0.00	$46,900.03	$23,366.43	$23,533.60	$46,900.03	
02/23/22	#9	$7,442.63	$0.00	($276.91)	$0.00	$7,165.72	$3,570.09	$3,595.63	$7,165.72	
03/14/22	#10	$28,092.94	($571.25)	($1,108.25)	$65.14	$26,478.58	$13,192.10	$13,286.48	$26,478.58	
04/15/22	#11	$17,680.93	$0.00	($510.22)	$0.00	$17,170.71	$8,554.75	$8,615.96	$17,170.71	
05/13/22	#12	$9,134.64	$0.00	($146.77)	$0.00	$8,987.87	$4,477.92	$4,509.95	$8,987.87	
06/15/22	#13	$6,168.42	$0.00	$0.00	$29.38	$6,197.80	$3,087.85	$3,109.95	$6,197.80	
07/15/22	#14	$69,610.73	$0.00	$0.00	$2,088.32	$71,699.05	$35,721.74	$35,977.31	$71,699.05	
08/15/22	#15	$4,210.60	$0.00	$0.00	$25.78	$4,236.38	$2,110.64	$2,125.74	$4,236.38	
	TOTAL	$	668,429.77	$	(571.25) $	(23,104.68)	$	2,217.03	$	646,970.87	$	322,332.36	$	324,638.51	$	646,970.87	

$

102%
-

Net Percent Collected
Balance Remaining to Collect