Somerset Community Development District

Board of Supervisors’ Special Meeting April 18, 2021

District Office:
120 Richard Jackson Blvd, Suite 220 Panama City Beach, Florida 32407 850-334-9055

SOMERSET COMMUNITY DEVELOPMENT DISTRICT AGENDA
SOMERSET COMMUNITY DEVELOPMENT DISTRICT

Alys Beach Conference Room, Building 1, 84 Elbow Road, Alys Beach, FL 32461
April 18, 2021, at 1:00 p.m.

District Board of Supervisors	Andrew O’Connell John Rosenberg George Hartley Tonya Pippin Tom Dodson	Chairman Vice Chairman
Assistant Secretary Assistant Secretary Assistant Secretary	
District Manager	Kimberly O’Mera	Rizzetta & Company, Inc	
District Counsel	Tucker Mackie	Kutak Rock LLP	
District Engineer	Jim Martelli	Innerlight Engineering	

All Cellular phones and pagers must be turned off while in the meeting room.
The District Agenda is comprised of five different sections:

The special meeting will begin promptly at 1:00 p.m. with the first section which is called Audience Comments on Agenda Items. The Audience Comment portion of the agenda is where individuals may comment on matters that concern the District. Each individual is limited to three (3) minutes for such comment. The Board of Supervisors or Staff is not obligated to provide a response until sufficient time for research or action is warranted. IF THE COMMENT CONCERNS A MAINTENANCE RELATED ITEM, THE ITEM WILL NEED TO BE ADDRESSED BY THE DISTRICT MANAGER OUTSIDE THE CONTEXT OF THIS MEETING.
The second section is called Business Administration. The Business Administration section contains items that require the review and approval of the District Board of Supervisors as a normal course of business. The third section is called Staff Reports. This section allows the District Manager, Engineer, and Attorney to update the Board of Supervisors on any pending issues that are being researched for Board action. The fourth section is called Business Items. The business items section contains items for approval by the District Board of Supervisors that may require discussion, motion and votes on an item-by-item basis. If any member of the audience would like to speak on one of the business items, they will need to register with the District Manager prior to the presentation of that agenda item. Occasionally, certain items for decision within this section are required by Florida Statute to be held as a Public Hearing. During the Public Hearing portion of the agenda item, each member of the public will be permitted to provide one comment on the issue, prior to the Board of Supervisors’ discussion, motion and vote. Agendas can be reviewed by contacting the Manager’s office at (850) 334-9055 at least seven days in advance of the scheduled meeting. Requests to place items on the agenda must be submitted in writing with an explanation to the District Manager at least fourteen (14) days prior to the date of the meeting. The final section is called Supervisor Requests and Audience Comments. This is the section in which the Supervisors may request Staff to prepare certain items in an effort to meet residential needs and provides members of the audience the opportunity to comment on matters of concern to them that were not addressed during the meeting.

Public workshops sessions may be advertised and held in an effort to provide informational services. These sessions allow staff or consultants to discuss a policy or business matter in a more informal manner and allow for lengthy presentations prior to scheduling the item for approval. Typically no motions or votes are made during these sessions.

Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this meeting is asked to advise the District Office at (850) 334-9055, at least 48 hours before the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service at 7-1-1, who can aid you in contacting the District Office.

Any person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that this same person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which the appeal is to be based.

SOMERSET COMMUNITY DEVELOPMENT DISTRICT
DISTRICT OFFICE  PANAMA CITY BEACH, FL 32407
MAILING ADDRESS  3434 COLWELL AVENUE, SUITE 200, TAMPA, FL 33614
http://somersetcdd.org/

Board of Supervisors Somerset Community Development District

April 11, 2022

AGENDA
Dear Board Members:

A Special Meeting of the Board of Supervisors of the Somerset Community Development District will be held on Monday, April 18, 2022, at 1:00 p.m. (Central Time) at the Alys Beach Conference Room, Building 1, located at 84 Elbow Beach Road, Alys Beach, FL 32461. The following is the Tentative Agenda for this meeting:

CALL TO ORDER/ROLL CALL
AUDIENCE COMMENTS ON AGENDA ITEMS
BUSINESS ADMINISTRATION
Consideration of Minutes of the Board of
Supervisors’ Meeting Held on March 23, 2021	Tab 1
Ratification of Operation and Maintenance Expenditures for
February 2022	Tab 2

BUSINESS ITEMS
Consideration of Matters Pertaining to Series 2022 Refunding
Summary of Bond Refunding by FMSbonds, Inc	Tab 3
Presentation of Final Supplemental Special Assessment Allocation Report, Capital Improvement Revenue
Refunding Bonds, Series 2022	Tab 4
Consideration of Resolution 2022-07 - Setting Forth the Specific Terms of the District’s Capital Improvement Revenue Refunding Bonds, Series 2022; Confirming and Adopting Supplemental Special Assessment Allocation Report; Confirming, Allocating and Authorizing
the Collection of Special Assessments Securing Series 2022 Refunding Bonds	Tab 5
Presentation of Amended and Restated Notice of Imposition
of Special Assessments	Tab 6
Consideration of First Amendment to True-Up Agreement	Tab 7
Consideration of Well Repair Proposals – Culligan Water	Tab 8

STAFF REPORTS
District Counsel
District Engineer
District Manager
i.	District Manager Report	(under separate cover)

Somerset Community Development District
April 11, 2022 Tentative Agenda- Page 2

SUPERVISOR REQUESTS AND AUDIENCE COMMENTS
ADJOURNMENT
I look forward to seeing you at the meeting. In the meantime, if you have any questions, please do not hesitate to call me at 850-334-9055.
Sincerely,
Kimberly O’Mera
Kimberly O’Mera District Manager

CALL TO ORDER / ROLL CALL

AUDIENCE COMMENTS ON AGENDA ITEMS

BUSINESS ADMINISTRATION

Tab 1

1	MINUTES OF MEETING
2
Each person who decides to appeal any decision made by the Board with respect
to any matter considered at the meeting is advised that the person may need to
ensure that a verbatim record of the proceedings is made, including the testimony
and evidence upon which such appeal is to be based.
7
SOMERSET
COMMUNITY DEVELOPMENT DISTRICT
10
The regular special meeting of the Board of Supervisors of the Somerset
Community Development District was held on Wednesday, March 23, 2022, at 11:00
a.m. Central Time at the Alys Beach Conference Room, Building 1, located at 84 Elbow
Road, Alys Beach, FL 32461.
15
16
17	Present and constituting a quorum:
18
Andrew O’Connell	Board Supervisor, Chairman
(Via speakerphone)
John Rosenberg	Board Supervisor, Vice Chairman
Tom Dodson	Board Supervisor, Assistant Secretary
George Hartley	Board Supervisor, Assistant Secretary
(Via speakerphone)
Tonya Pippin	Board Supervisor, Assistant Secretary
26
27	Also present were:
28
Kimberly O’Mera	District Manager, Rizzetta & Company, Inc.
Tucker Mackie	District Counsel, Kutak Rock, LLP
Jim Martelli	District Engineer, Inner Light Engineering
(Via speakerphone)
Scott Brizendine	Vice President of Operations, Rizzetta & Company
(Via speakerphone)
Kayla Connell	Senior Financial Associate, Rizzetta & Company
(Via speakerphone)
Cynthia Wilhelm	Nabors, Giblin, & Nickerson, P.A.
(Via speakerphone)
Jon Kessler	FMSbonds, Inc.
(Via speakerphone)
Scott Buchewicz	Alys Beach Resorts
(Joined the meeting at 12:00 p.m.)

Douglas Lang	Alys Beach Resorts
(Joined the meeting at 12:00 p.m.)
Audience	None Present
46
47	FIRST ORDER OF BUSINESS	Call to Order
48
Ms. O’Mera called the meeting to order at 11:13 a.m. and read the roll call, confirming a
quorum for the meeting.
51
52	SECOND ORDER OF BUSINESS	Audience Comments on Agenda
53
54	There were no audience comments.
55
THIRD ORDER OR BUSINESS	Consideration of the Minutes of the
Board of Supervisors’ Meeting Held
on November 8, 2021
59
Ms. O’Mera presented the Minutes of the Board of Supervisors’ Meeting held on
November 8, 2021. Line 19 will need a correction to the spelling of Mr. Rosenberg’s last
name.
63

On a motion by Mr. Rosenberg, seconded by Mr. Dodson, with all in favor, the Board of Supervisors accepted the Minutes of the Board of Supervisors’ Meeting, held on November 8, 2021, with spelling correction to Line 19, for Somerset Community Development District.

64
FOURTH ORDER OF BUSINESS	Ratification	of	Operation	and
Maintenance	Expenditures	for
October 2021 – January 2022
Ms. O’Mera reviewed the Operation and Maintenance Expenditures for October 2021 –
January 2022 with the Board. General discussion ensued regarding aged invoices from Alys
Beach Resorts, LLC.
71

On a motion by Mr. O’Connell, seconded by Mr. Dodson, with all in favor, the Board of Supervisors ratified the Operation and Maintenance Expenditures for October 2021 in the amount of $59,379.13, November 2021 in the amount of $26,069.64, December 2021 in the amount of $24,051.49, and January 2022 in the amount of $32,444.56, for Somerset Community Development District.

72

73	FITFTH ORDER OF BUSINESS	Consideration	of	Bond	Refunding	
74		Items				

Ms. O’Mera turned over the presentation to Ms. Mackie. Ms. Mackie gave an overview of
the business at the end of the last meeting in November 2021; During the financial review,
there was a discussion about the bonds issued in 2005, and the possibility of refunding
the bonds to realize some savings. Ms. Mackie reached out to Jon Kessler with
FMSbonds, Inc., who did the original underwriting. Mr. Kessler and the team at
FMSbonds, Inc. were able to determine there could be significant savings that would
result in some benefit to the debt service payers within the District. Ms. Mackie turned
over the presentation to Jon Kessler of FMSbonds, Inc.
83
Mr. Kessler noted that scenarios in December when rates were around 3% indicated a
savings of 16%. The rates are currently around 4% +/- and the savings scenario would
be around 9%. As part of the refinancing, the maturity date is not being extended and
there will be no increase in the prior amount of bonds. Mr. McConnell asked for
clarification on the principal amount of the Series 2005 Bonds being $11,945,000.00 and
the Series 2022 Bonds estimating to be issued in a par amount of $11,290.00.00. Mr.
Kessler explained that a portion of the Debt Service Reserve fund and excess revenues
from prior years collections will be used, bringing the amount to $11,290,00.00. Mr.
O’Connell asked for confirmation that this refinancing does not impact the Capital
Reserves and Mr. Kessler confirmed this as correct. Mr. O’Connell asked if the 1.5% fee
is within market and both Mr. Kessler and Ms. Mackie confirmed this as correct. Ms.
Mackie also explained that the documents included in the Agenda are in preliminary form.
Mr. Kessler left the meeting at 11:31 a.m.

On a Motion by Mr. O’Connell, seconded by Mr. Dodson, with all in favor, the Board of Supervisors approved the Engagement for Underwriting services with FMSbonds, Inc., for Somerset Community Development District.

97		
98
99	SIXTH ORDER OF BUSINESS	Presentation of Preliminary
100	Assessment Methodology Report
101
Ms. Mackie turned over the presentation of the Preliminary Assessment Methodology
Report to Scott Brizendine of Rizzetta & Company. Mr. Brizendine briefly walked the Board
through the Methodology Report for an approval in substantial form. The original bonds
were issued in 2005. The same methodology will be used that was used in 2005.
There will be an estimated savings of 8.9% compared to the current year. Single family
homes will see an estimated savings of $128.00 per year and commercial properties an
estimated savings of $96.00 per year. Mr. O’Connell questioned whether a savings that
amounts to approximately $10.00 per month per property was enough to consider the bond
refunding. Ms. Mackie stated the savings is a net savings and takes into account the cost to

the District. Mr. O’Connell stated that when the District started this process the rates were
lower and property owners would have had a larger savings. Mr. Hartley stated that the
District has a responsibility to property owners to achieve the savings, especially this far into
the process. Mr. Dodson agreed with Mr. Hartley. Mr. Brizendine stated a final Methodology
Report will be presented for the Board to adopt with the final numbers
116

On a Motion by Mr. Dodson, seconded by Mr. Rosenberg, with all in favor, the Board of Supervisors accepted the preliminary Methodology Report, for purposes of including in the disclosure document, for Somerset Community Development District.

117
SEVENTH ORDER OF BUSINESS	Consideration of Bond Counsel
Agreement
120
Ms. Mackie reviewed the Bond Counsel Agreement with Nabors, Giblin, & Nickerson, P.A.
with the Board.
123

On a Motion by Mr. O’Connell, seconded by Mr. Rosenberg, with all in favor, the Board of Supervisors, approved the Bond Counsel Agreement with Nabors, Giblin, & Nickerson, P.A., for Somerset Community Development District.

124
EIGHTH ORDER OF BUSINESS	Consideration of Resolution 2022-03,
Bond Delegation Resolution
127
Ms. Mackie gave an overview of Resolution 2022-03, Bond Delegation Resolution, with the
Board. Ms. Mackie explained why the Board is delegated the authority and the process that
will occur following the meeting. Ms. Mackie turned over the presentation of Resolution
2022-03 to Cynthia Wilhelm with Nabors, Giblin, & Nickerson, P.A.
132
Ms. Wilhelm explained that the resolution serves two main purposes. The first purpose is to
delegate to the Chair the authority to enter into a bond purchase contract so long as the
purchase contract is within the parameters. The second purpose of the resolution is to
approve documents needed to market, purchase, and close on the bonds. Ms. Wilhelm
reviewed the resolution and exhibits with the Board. The Board had no questions.
138

On a Motion by Mr. Rosenberg, seconded by Mr. O’Connell, with all in favor, the Board of Supervisors, adopted Resolution 2022-03, Bond Counsel Agreement, for Somerset Community Development District.

139
Ms. Mackie requested a motion to authorize the Chair to approve the Final Supplemental
Methodology Report in the event a quorum is not met for the next meeting, for purposes of
closing on the bonds. The approval can then be addressed through an assessment
resolution when the Board next meets.

144

On a Motion by Mr. Rosenberg, seconded by Mr. Hartley, with all in favor, the Board of Supervisors, approved authorizing the Chair to approve the Final Supplemental Methodology for the purpose of closing on the bonds, for Somerset Community Development District.

145
NINTH ORDER OF BUSINESS	Consideration of Resolution 2022-04,
Updates to Prompt Payment Policy
148
Ms. O’Mera stated the policy was last adopted on November 14, 2016. She turned over
the presentation of Resolution 2022-04, Updates to Prompt Payment Policy to Ms. Mackie.
Ms. Mackie explained that the updates relate to Florida statutory changes. The changes
reflected in the updated policy pertain to interest accrued for lack of payment, timing of
payments on when they must be received, and the process by which the Board must review
them.
155

On a Motion by Mr. O’Connell, seconded by Mr. Dodson, with all in favor, the Board of Supervisors adopted Resolution 2022-04, Updates to Prompt Payment Policy, for Somerset Community Development District.

156
TENTH ORDER OF BUSINESS	Presentation of Reserve Study Report
- Custom Reserves LLC
159
Ms. O’Mera presented and reviewed the Reserve Study Report from Custom Reserves,
LLC. Ms. O’Mera stated that Mr. O’Connell was actively involved with the report as well as
Alys Beach Resorts staff with a large interest in updating the true replacement values based
on the locale so that the District is funding appropriately. Mr. O’Connell stated he agrees
with the recommended contribution amount of $650,000.00 in the report. There were no
other questions or comments from the Board.
166

On a Motion by Mr. Dodson, seconded by Ms. Pippin, with all in favor, the Board of Supervisors accepted the Reserve Study Report by Custom Reserves, LLC., for Somerset Community Development District.

167
ELEVENTH ORDER OF BUSINESS	Ratification of First Amendment to
Irrigation Pump Station Maintenance
Agreement – Mills Supply
171
Ms. O’Mera presented and reviewed the First Amendment to Irrigation Pump Station
Maintenance Services Agreement with Mills Supply. The District previously entered into
agreement May 1, 2021, in the amount of $200.00 per month for the monthly maintenance

of the irrigation system pump station at Somerset Bridge at Lake Marilyn. The agreement
increases the amount to $225.00 per month, accepted by the Chairman.
177		

On a Motion by Mr. Hartley, seconded by Mr. Rosenberg, with all in favor, the Board of Supervisors ratified the First Amendment to Irrigation Pump Station Maintenance Agreement with Mills Supply, for Somerset Community Development District.

178
TWELFTH ORDER OF BUSINESS	Discussion of Responsibility for
Power Meters Associated with
Components Maintenance by the
District and Review of Meter Audit
183
Ms. O’Mera opened the discussion by reminding the Board that the District has been
budgeting annually for electric meter expense but has not been paying for utilities. The
Board needs to determine which meters the District will take ownership of from the
Homeowners’ Association. An internal audit was completed by Mr. Buchewicz’ s team to
identify the meters they associate with District components. Ms. O’Mera stated that the
District has been budgeting for streetlight electric utility services without usage. The Board
budgeted $32,500.00 for street light utility services for Fiscal Year 2021/2022. Mr. O’Connell
asked for meters that are event spaces be removed. Mr. Buchewicz will remove meters that
are located at event spaces and the fountains. General discussion ensued.
193
Going forward the District will assume ownership of the following, less any meters that
include event spaces and fountains:
196
CDD - Public Lighting meters
CDD - Meters for property lighting only:
1. 7428964 - George’s parking court
2. 7268624 - Sugarloaf Alley
3. 7268632 - Hog penny Alley
4. 7561232 - Whitby Court
203	5. 7998833 - K9
204	6. 5885189 – Playground
205	7. 7366949 - AC ped path
8. 7350283 - NE Buttery (lighting and irrigation wells)
9. 7357992 - NW Buttery (lighting and irrigation)
208	10. 7321006 - Q15
209	11. 7359605 - Caliza CT
210	12. 7365480 - Kelly Green
211	13. 7317843 - Central Park
212

CDD - Irrigation Meters
1. 3586519 - Hoover plus (2) fountains in lake Marilyn and (1) small,
illuminated fountain at Lake Marylyn
2. 5218998 - McGee irrigation well
3. 7250608 - D-Building well
218	4. 7350283 - NE well
219	5. 7357992 - NW well
220

On a Motion by Mr. Rosenberg, seconded by Mr. Dodson, with all in favor, the Board of Supervisors approved taking ownership of the above, going forward, less the meters that include event spaces or fountains, for Somerset Community Development District.

221
THIRTEENTH ORDER OF BUSINESS	Discussion of Walton County Right of
Way Maintenance Agreement
224
Ms. O’Mera opened the discussion of the Walton County Right of Way Maintenance
Agreement. The Agreement is between Walton County and EBSCO. Under the MOU the
District is maintaining certain improvements on Highway 30A but the District does not have
an agreement. EBSCO would like to remain party to the agreement with Walton County.
Ms. Mackie suggests a Right of Way use agreement with the County. Staff will reach out to
Walton County for the agreement.
231
FOURTEENTH ORDER OF BUSINESS	Consideration of Facility Maintenance
Invoices
i.	Alys Beach Resorts
235
Ms. O’Mera reviewed the aged invoices totaling $9,975.54, from Alys Beach Resorts that
were part of a second true up. It has been verified that the inspections on the invoices did
take place and had not been previously paid. Ms. Mackie stated that due to Mr. Dodson’s
employment he will declare a continuing conflict for the record, as Florida law requires. He
will also fill out a continuing conflict form to be kept on file. Mr. Dodson declared a continuing
conflict for the record.
242

On a Motion by Mr. Rosenberg, seconded by Ms. Pippin, with all in favor, the Board of Supervisors approved the Alys Beach Resorts invoices totaling $9,975.54, for Somerset Community Development District.

243
ii.	Alys Beach Neighborhood Association
245
Ms. O’Mera presented the invoice behind tab 13 from the Alys Beach Neighborhood
Association (ABNA). The ABNA is requesting reimbursement in the amount of $7,862.50 for

CDD related expenses incurred in 2019 and 2020. Discussion ensued about aged invoices
being submitted. Ms. O’Mera stated that the MOU has improved these occurrences.
250		

On a Motion by Mr. Rosenberg, seconded by Ms. Pippin, with all in favor, the Board of Supervisors approved the Alys Beach Neighborhood Association invoices totaling
$7,862.50, for Somerset Community Development District.

251
FIFTEENTH ORDER OF BUSINESS	Consideration of Slip Lane Project
Proposals
254
i.	Change Order for Completed Slip Lane Project
256
Ms. O’Mera reviewed the change order for the completed Slip Lane Project with the Board.
The Board approved the Slip Lane Project at the meeting held February 8, 2021, in the
amount of $48,852.00. The change order is for additional paver work at the East end curb
radius in the amount of $3,300.00 and has already been paid by the District. The work was
completed in the Fall of 2021. Ms. O’Mera reminded the Board that this project was not
considered in the current Fiscal Year budget.
263

On a Motion by Mr. O’Connell, seconded by Mr. Hartley, with all in favor, the Board of Supervisors ratified the change order for the completed Slip Lane Project in the amount of $3,300.00, for Somerset Community Development District.

264
ii.	Slip Widening Project Between Blocks QQ and S – Alys Beach
Construction
267
Ms. O’Mera stated that the Budget Worksheet for the project was presented by Alys Beach
Resorts (EBSCO) as a necessary expenditure. Alys Beach Resorts has have moved
forward with scheduling the project and are requesting that the District reimburse them in
the amount of $56,507.00. Ms. O’Mera stated that this was an unbudgeted expense and
reviewed the status of the Financial Statement. Discussion ensued.
273

On a Motion by Mr. O’Connell, seconded by Mr. Rosenburg, with all in favor, the Board of Supervisors approved the Slip Widening Project Between Blocks QQ & S for Alys Beach Construction (EBSCO) in the amount of $55,507.00, for Somerset Community Development District.

274		
275	iii.	Paver Repair at S Castle Harbor Intersection – Alys Beach	
276		Construction	
277			
278	Ms. O’Mera	reviewed the invoice from Alys Beach Construction (EBSCO) for the paver	
repair the intersection of S Castle Harbor and 30A with the Board. The request is for

$13,310.00 and includes the contingency of $1,210.00. Mr. O’Connell stated that the
damage to the pavers would have been caused by development and would likely be a
Homeowners’ Association expense. Ms. Mackie added that in this instance most Districts
will require that the development entity make the repairs much like a county or city would if
the damage can be attributed to significant amount of wear and tear from that event.
However, the roads are traveled for other use as well.
286
Ms. Mackie clarified that the District would have maintenance responsibility for the pavers,
but in this case, the damage source may have been the unexpected wear and tear from
ongoing development. Discussion ensued. This item will be tabled while Staff discusses the
potential to benefit from the Road Impact Fee collected by the Alys Beach Neighborhood
Association for repairs attributable to ongoing development. This item will be reviewed again
at the next meeting.
293
SIXTEENTH ORDER OF BUSINESS	Consideration of Lighting Repairs
295
i.	Consideration of Street Light Design and Design Expense
297
Ms. O’Mera stated the street light design is in flux at the moment. At the November meeting,
the Board had asked for an improved design for replacement of street light poles that would
prevent bug and moisture rot at the base, prolonging the lifespan of the poles. The Town
Architect with Khoury Vogt Architects did provide an initial design. A revision to the design
is being discussed following feedback from staff that manage the maintenance. Mr.
Buchewicz spoke on the designs that they are working with ESN1 to design the poles to
have longevity.

On a Motion by Mr. Dodson, seconded by Mr. Rosenberg, with all in favor, the Board of Supervisors approved the invoice from Khoury Vogt Architects in the amount of
$150.00 for streetlight pole design, for Somerset Community Development District.

305		
306
307	ii.	Consideration of Pedestrian Pathway Lighting Repairs
308
Ms. O’Mera turned the discussion over to Douglas Lang with Alys Beach Resorts to present.
Mr. Lang stated lighting is missing due to age in the raised flower beds leaving them partially
lit. The proposal is for a full replacement. Mr. Buchewicz added that the replacement will be
different from the current, increasing its resistance to the elements. Ms. O’Mera added that
$12,000.00 was budgeted for pedestrian pathway lighting and to date approximately
$2,000.00 has been used. Ms. O’Mera asked if there is an extended warranty offered
outside of the manufacturer warranty and for details on surge protection. General discussion
ensued regarding the proposal language. The Board agreed to move forward with the
proposal. Ms. Mackie recommended entering into a formal agreement with McHenry
Electric. Mr. Buchewicz will confirm the warranty.

319

On a Motion by Ms. Pippin, seconded by Mr. Hartley, with all in favor, the Board of Supervisors approved the proposal for pedestrian path lighting replacement with McHenry Electric, Inc. in the amount of $9,181.00, for Somerset Community Development District.

320
iii.	Consideration of Street Lighting Repairs/Replacements
322
Ms. O’Mera presented and reviewed the proposal for street lighting repairs and
replacements with the Board as presented behind Tab 19 of the Agenda. The proposal is in
the amount of $38,556.00 and appear to all be poles that had rotted and fallen over or had
bug damage. The prices listed on the proposal are using the current pole design. Discussion
ensued. Ms. O’Mera stated that the replacement of poles has not been tracked previously
but now that they are District responsibility the replacements will be tracked.
329

On a Motion by Mr. Rosenberg, seconded by Mr. Hartley, with all in favor, the Board of Supervisors approved the proposal for street light replacements in the amount of
$38,556.00, for Somerset Community Development District.

330
SEVENTEENTH ORDER OF BUSINESS	Consideration of Resolution 2022-05,
Designating a Registered Agent
333
Ms. O’Mera turned the presentation over to Ms. Mackie. Ms. Mackie gave an overview of
Resolution 2022-05 to the Board. The resolution updates the firm from Hopping Green and
Sams to Kutak Rock, LLP and updates the address for purposes of Kutak Rock, LLP serving
as the District’s registered agent to receive communication.
338

On a Motion by Mr. Rosenberg, seconded by Ms. Pippin, the Board of Supervisors adopted Resolution 2022-05, Designating a Registered Agent, for Somerset Community Development District.

339
EIGHTEENTH ORDER OF BUSINESS	Consideration of Resolution 2022-06,
Setting a Landowner Election
342
Ms. O’Mera turned over the presentation of Resolution 2022-06 to Ms. Mackie. Ms. Mackie
gave an overview of the resolution. She reminded the Board that they do not have to be
present. The date of the landowner election needs to be in November and needs to be set
so that staff can advertise. This item is tabled until the May meeting.
347
348
349

351	NINETEENTH ORDER OF BUSINESS	Staff Reports
352
353	A. District Counsel
354
Ms. Mackie gave un update on the 2022 Legislative Session. The ban on lobbying went
through after the Constitutional Amendment 12 passed. Ms. Mackie stated that Board
members would have received a memorandum and advised to contact her with any
questions. A Bill passed that allows for special Districts to advertise on county websites and
could potentially save the District money in terms of the cost of advertising but the particulars
are still to be determined.
361
B. District Engineer
1.	Consideration of Proposal for Stormwater Needs Analysis
364
Ms. Mackie gave an overview of the 2021 Legislative Session in which Florida Law now
requires local governments to prepare a stormwater needs analysis that is due at the end
of June 2022. Mr. Martelli is preparing the proposal as the District Engineer. Mr. Martelli
gave a brief overview of the proposal to the Board. The services will be billed at an hourly
rate with a not to exceed of $15,000.00.

On a Motion by Mr. Rosenberg, seconded by Mr. Dodson, with all in favor, the Board of Supervisors approved the proposal for Stormwater Needs Analysis, for Somerset Community Development District.

370
C. District Manager
1.	Presentation of District Management Report
373
Ms. O’Mera advised that the Landowner Election for seats 2, 4, and 5 will be in November
2022 and a meeting date will be brought before the Board at the May meeting.
376
Ms. O’Mera reminded the Board that the audit completion deadline is June 30, 2022, for
Fiscal Year 2021.
379
The next regular meeting of the Board of Supervisors will be May 9, 2022, at 2:00 p.m. The
Board set a special meeting for Monday, April 18, 2022, at 1:00 p.m.
382
TWENTIETH ORDER OF BUSINESS	Supervisor Requests and Audience
Comments
385
There were no supervisor requests and MS. O’Mera stated for the record that there was no
audience present.

389	TWENTY FIRST ORDER OF BUSINESS	Adjournment
390

On a Motion by Ms. Pippin, seconded by Mr. Dodson, with all in favor, the Board of Supervisors adjourned the meeting at 1:42 pm (CDT), for the Somerset Community Development District.

391			
392			
393			
394		_		
395	Secretary/Assistant Secretary	Chairman/ Vice Chairman	

Tab 2

SOMERSET COMMUNITY DEVELOPMENT DISTRICT

DISTRICT OFFICE · PANAMA CITY, FLORIDA · (850) 334-9055 MAILING ADDRESS · 3434 COLWELL AVENUE, SUITE 200 · TAMPA, FLORIDA 33614

Operation and Maintenance Expenditures February 2022
For Board Approval

Attached please find the check register listing the Operation and Maintenance expenditures paid from February 1, 2022 through February 28, 2022. This does not include expenditures previously approved by the Board.

The total items being presented:  $ 28,879.07

Approval of Expenditures:

	 Chairperson

	 Vice Chairperson

	 Assistant Secretary

Vendor Name	 Check Number Invoice Number	 Invoice Description	 Invoice Amount

ALYS Beach Resort LLC	002869	CL00012407	Misc Invoices 01/22	$	2,991.02	
			Monthly Facilities Management Misc		
ALYS Beach Resort LLC	002869	CL00012653	Invoices 01/22	$	4,514.00	
Custom Reserves LLC	002870	F162.21.19	Update with Site Visit 01/22	$	1,350.00	
Dune Doctors, LLC	002875	012822-1	Quarterly Maintenance Phase 4 01/22	$	9,429.00	
Florida Power & Light Co	2022-02-01	21046-33165 01/22	9954 E Cty Hwy 30A Irrigation 01/22	$	618.36	
Florida Power & Light Co	2022-02-01	21080-12465 01/22	9396 E Cty Hwy 30A Irrigation 01/22	$	109.44	
Innerlight Engineering Corporation	002876	6057	Engineering Services 01/22	$	650.00	
Innerlight Engineering Corporation	002876	6058	NPDES Weekly Inspection 01/22	$	2,850.00	
Kutak Rock, LLP
Natureal Resources Development Corp. of	002871	2979647	Legal Services 12/21
Monthly Pump Station Maintenance	$	622.50	
USA dba Mills Supply
Natureal Resources Development Corp. of	002867	8796	01/22
Monthly Pump Station Maintenance	$	225.00	
USA dba Mills Supply	002873	8826	02/22	$	225.00	
Newagetutors LLC DBA VGlobalTech	002874	3548	Website ADA Compliance 02/22	$	425.00	
Rizzetta & Company, Inc.	002868	INV0000065451	District Management Fees 02/22	$	4,821.75	

Vendor Name	 Check Number Invoice Number	 Invoice Description	 Invoice Amount

The Lake Doctors, Inc.	002872	632981	Monthly Monitoring/Inspection 02/22	$	48.00

Report Total	$	28,879.07

BUSINESS ITEMS

Tab 3

Somerset CDD
Bond Refinancing Analysis

	Current Bonds	Refunding Bonds	
		FINAL	
Bonds Outstanding	$11,945,000	$10,745,000	
Arbitrage Yield (1)	5.300%	4.06%	
Average Annual Debt Service (2)	$1,105,331	$960,153	
Total Debt Service 2023-Maturity	$16,579,968	$14,402,300	
Reserve Fund	$795,480	$240,871	
Call Date	Callable Anytime at Par	5/1/2032 at Par	
Final Maturity	2037	2037	
SAVINGS SUMMARY			
Annual Savings - District		$145,178	
Annual Savings - %		13.13%	
Total Savings - District		$2,177,668	
Rates are FINAL.
Assessments will be grossed up to include early payment discounts and collection cost.

Tab 4

Somerset Community Development District

Final Supplemental Special Assessment Allocation Report

Capital Improvement Revenue Refunding Bonds, Series 2022

3434 Colwell Avenue
Suite 130
Tampa, FL 33614 www.rizzetta.com

April 5, 2022

SOMERSET COMMUNITY DEVELOPMENT DISTRICT CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2022

	TABLE OF CONTENTS		

I.	
INTRODUCTION ……………………………………….......………..…..................…	Page
1	
II.	DEFINED TERMS……..…………………...............................................................	1	
III.	DISTRICT INFORMATION……………….………………...........................................	2	
IV.	SERIES 2005 PROJECT.………………..……..…………………………...……….…	2	
V.	SERIES 2022 BONDS AND ASSESSMENTS…………..…………………………..…....	2	
VI	SERIES 2022 ASSESSMENT ALLOCATION………………………………………….…	3	
VII.	PREPAYMENT OF SERIES 2022 ASSESSMENTS………………………………..….….	4	
VIII.	ADDITIONAL STIPULATIONS……………………………………………………………	4	
EXB “A”	ALLOCATION METHODOLOGY…………..…………………………………………………..	5	

INDEX OF TABLES

Table	Description	Page	
1	REVISED  DEVELOPMENT  PLAN…………………….................................................	A-1	
2	FINANCING INFORMATION – SERIES 2022 BONDS………………..………………..…	A-2	
3	FINANCING INFORMATION – SERIES 2022 ASSESSMENTS……………………………	A-2	
4	ASSESSMENT ALLOCATION – SERIES 2022 ASSESSMENTS……………………….…
SERIES 2022 ASSESSMENT ROLL………...…………….……………………..……..	A-3
A-4	

SOMERSET COMMUNITY DEVELOPMENT DISTRICT CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2022

INTRODUCTION

This Final Supplemental Special Assessment Allocation Report (the "Final Supplemental Report") is being presented in anticipation of the Somerset Community Development District (“District”), a local unit of special purpose government established pursuant to Chapter 190, Florida Statutes, undertaking a refunding and defeasance of the outstanding principal amount of the District’s Capital Improvement Revenue Bonds, Series 2005, issued by the District on July 12, 2005 (“Series 2005 Bonds”). The District proposes to issue Capital Improvement Revenue Refunding Bonds, Series 2022 (the “Series 2022 Bonds”), and has retained Rizzetta & Company, Inc. to prepare a methodology for reallocating the special assessments expected to be levied by the District in connection with the transaction.

DEFINED TERMS

"District" – Somerset Community Development District.

“Equivalent Assessment Unit” or “EAU” – Allocation factor which reflects a quantitative measure of the amount of special benefit conferred by the District’s Series 2005 Project (hereinafter defined) on a particular land use, relative to other land uses.

“Indentures” – The Master Trust Indenture dated July 1, 2005 and the Second Supplemental Trust Indenture dated April 1, 2022.

“Platted Units” – Lands configured into their intended end-use and subject to a recorded plat.

“Series 2005 Assessments” – Annual assessments required to repay the Series 2005 Bonds.

“Series 2005 Assessment Reports” – The Preliminary Special Assessment Allocation Report dated Aprill 11, 2005 and the Final Special Assessment Allocation Report dated May 23, 2005, which specified the allocation methodology to be used for the District’s Series 2005 Assessments.

“Series 2005 Bonds” – Somerset Community Development District Capital Improvement Revenue Bonds, Series 2005, issued on July 12, 2005, in the original principal amount of $21,045,000, of which $11,945,000 is currently outstanding.

“Series 2022 Assessments” – Annual assessments required to repay the Series 2022 Bonds (Special Assessments, as contemplated by Chapters 190, 170, and 197, Florida Statutes, securing repayment of the District’s Series 2022 Bonds).

1

SOMERSET COMMUNITY DEVELOPMENT DISTRICT CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2022

“Series 2022 Bonds” – The $10,745,000 Somerset Community Development District Capital Improvement Revenue Refunding Bonds, Series 2022

“Unplatted Parcels” – Undeveloped lands or parcels not yet subject to a recorded plat in their final end-use configuration.

All capitalized terms not defined herein shall retain the meaning ascribed in the Series 2005 Assessment Reports.

DISTRICT INFORMATION

The District was established pursuant to the Walton County Ordinance No. 05-04, which became effective on April 1, 2005 and encompasses 158.49 acres. Pursuant to Resolution 2005-33, the District authorized the sale of the District’s Series 2005 Bonds to fund the acquisition and/or construction of that portion of the District’s Capital Improvement Program primarily consisting of infrastructure necessary to support the development within the District (the "Series 2005 Project"). Development is ongoing and currently consists of 409 single family residential units and 5,632 square feet of commercial space (the “Platted Units”). The remaining plan for development contemplates 369 single family residential units and 48,218 square feet of commercial space on the remaining Unplatted Parcels (the “Unplatted Parcels”). These Platted Units and Unplatted Parcels are subject to the Series 2005 Assessments.

See Table 1 for a detail of the current development plan associated with the Series 2005 Assessments.

SERIES 2005 PROJECT

There are no changes to the Series 2005 Project associated with this refunding, as the Series 2005 Project was deemed complete on June 23, 2011.

SERIES 2022 BONDS AND ASSESSMENTS

As of the date of this Final Supplemental Report, the Series 2005 Bonds are currently outstanding in the principal amount of $11,945,000. In order to take advantage of market conditions and savings which can be realized by refinancing the District’s existing debt, the District intends to refund and defease the Series 2005 Bonds with the Series 2022 Bonds, repayment of which will be secured by the Series 2022 Assessments.

The Series 2022 Bonds will be issued in a par amount of $10,745,000. The bond proceeds will be combined with existing trust estate funds to make the required escrow deposits associated with the defeasance of the Series 2005 Bonds, with the remainder being used to fund associated issuance costs, fund the debt service reserve and interest through November 1, 2022. Detailed Series 2022 Bonds financing information can be found in Table
2. The Series 2022 Assessments will be imposed in an initial principal amount of $10,745,000 and will be structured to satisfy the District’s debt service payment obligations for the Series

2

SOMERSET COMMUNITY DEVELOPMENT DISTRICT CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2022

2022 Bonds. Because these assessments are normally collected via the Walton County tax bill process, the assessments have been augmented to allow for county collection costs and early payment discounts, which have been estimated for purposes of this report. See Table 4.

SERIES 2022 ASSESSMENT ALLOCATION

The District is securing repayment of the Series 2022 Bonds with the Series 2022 Assessments, as contemplated under Florida Statutes Chapter 170 and 190, which will be allocated to those parcels currently encumbered by Series 2005 Assessments. Unlike property taxes, which are ad valorem in nature, a community development district may levy special assessments under Florida Statute only if the parcels to be assessed receive special benefit from the infrastructure improvements acquired and/or constructed by the district. These special benefits are specific to lands within the district and differ in nature to those general or incidental benefits that landowners outside the district or the general public may enjoy. A district must also apportion or allocate its special assessments so that the assessments are fairly and reasonably distributed relative to the special benefit conferred. Generally speaking, this means the amount of special assessment levied on a parcel should not exceed the amount of special benefit enjoyed by that parcel. The district typically may develop and adopt an assessment methodology based on front footage, square footage, or any other reasonable allocation method, so long as the assessment meets the benefit requirement, and so long as the assessments are fairly and reasonably allocated.

Pursuant to District Resolution 2005-25, the District’s Board of Supervisors determined in relevant part that 1) the Series 2005 Project conferred special benefit upon the parcels to be encumbered with Series 2005 Assessments and 2) that the proposed allocation of Series 2005 Assessments, as specified in the Series 2005 Assessment Reports, was fair and reasonable. As stated above, the Series 2005 Project is now complete, and there are no changes to the Series 2005 Project associated with this refunding. As such, the District’s previous determination of special benefit is still valid.

The Series 2022 Assessments will be allocated among the parcels currently subject to the Series 2005 Assessments using the same methodology found in the Series 2005 Assessment Reports.

The configuration of parcels and the benefit conferred by the Series 2005 Project remains consistent. Accordingly, the Series 2022 Assessment allocation is fair and reasonable, and the resulting per unit amount of Series 2022 Assessments fall within acceptable benefit levels and maximum assessment levels established by the Series 2005 Assessment Reports. See Table 4 for the Series 2022 Assessments for each land use, along with a comparison of the existing annual installment of Series 2005 Assessments to illustrate the relative reduction in annual installment payments projected to be realized by each of the land uses.

The Series 2022 Assessment Roll can be found on page A-4.

3

SOMERSET COMMUNITY DEVELOPMENT DISTRICT CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2022

PREPAYMENT OF SERIES 2022 ASSESSMENTS

The Series 2022 Assessments encumbering a parcel may be prepaid in full at any time, without penalty, together with interest at the rate on the corresponding Series 2022 Bonds to the bond interest payment date that is more than forty-five (45) days next succeeding the date of prepayment. Notwithstanding the preceding provisions, the District does not waive the right to assess penalties which would otherwise be permissible if the parcel being prepaid is subject to an assessment delinquency.

ADDITIONAL STIPULATIONS

All provisions of the Modifications and Revisions section of the Series 2005 Assessment Reports remain in full force and effect. To the extent any provisions of the Series 2005 Assessment Reports conflict with this FinalSupplemental Report, the provisions of this report shall prevail. Certain financing and development data were provided by members of District staff and professionals retained in connection with the financing. The allocation methodology described herein was based on information regarding the underlying bond transaction provided by those professionals. Rizzetta & Company, Incorporated makes no representation regarding said transaction beyond restatement of the information necessary for compilation of this report, except for information incidental to the transaction with was provided by Rizzetta & Company, Incorporated. For additional information about the Series 2022 Bonds structure and related items, please refer to the Indentures.

Rizzetta & Company, Incorporated does not represent the District as a Municipal Advisor or Securities Broker nor is Rizzetta & Company, Incorporated, registered to provide such services as described in Section 15B of the Securities and Exchange Act of 1934, as amended. Similarly, Rizzetta & Company, Inc. does not provide the District with financial advisory services or offer investment advice in any form.

4

SOMERSET COMMUNITY DEVELOPMENT DISTRICT
	CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 202 

EXHIBIT A:

ALLOCATION METHODOLOGY

Professionals in Community Management

TABLE 1: REV

PRODUCT	ISED DEVELOPMENT PLAN

SERIES 2005 UNITS	
Single Family Residence	778.00	
Units	
Commercial	53.85	1K SF	
TOTAL:	831.85		

TABLE 2: FINANCING INFORMATION - SERIE

Average Coupon Rate Term
Maximum Annual Debt Service ("MADS")	S 2022 BONDS

4.120%
15
$963,485.00		

SOURCES:			
Bond Proceeds:			
INITIAL PAR AMOUNT	$10,745,000.00		
Premium	$36,493.35		
Other Sources of Funds:			
Transfer of Revenue Fund	$1,269,978.28		
Transfer of Reserve Fund	$795,480.15		
Transfer of Prepayment Fund	$676.26		
Total Sources	$12,847,628.04		
USES:			
Refunding Escrow Deposits:			
Cash Deposit	($12,298,660.17)		
Other Fund Deposits:			
Debt Service Reserve Fund (through 11/1/22)	($240,871.25)	(1)	
Delivery Date Expenses:			
Cost of Issuance	($145,350.00)		
Underwriter's Discount	($161,175.00)		
Other Uses of Funds:			
Rounding	($1,571.62)		
Total Uses	($12,847,628.04)		

Source: District Underwriter.
(1) 25% of MADS			

TABLE 3: FINANCING INFO

Estimated Average Interest Rate	RMATIO	N -	SERIES 2022 ASSESSMENTS

4.120%	
Aggregate Initial Principal Amount		$10,745,000	
Aggregate Annual Installment		$963,485	
(1)	
Estimated County Collection Costs	2.00%	$20,499.68	(2)	
Maximum Early Payment Discounts	4.00%	$40,999.36	(2)	
Estimated Total Annual Installment

Based on MADS for the Series 2022 Bonds.
May vary as provided by law.	$1,024,984.04	

ANNUAL ASSESSMENT SAVINGS PER UNIT (based
on new product mix	
	% per year	$ per year	
Single Family	12.8%	$184.39	
Commercial	12.8%	$138.30	

COMMUNITY DEVELOPMENT DISTRICT

-

SESSMENTS (1)

	TABL	E	4: ASSESSMENT

PRODUCT		ALLOCATION		SERIES 2022 AS

PRODUCT	
			TOTAL		PER UNIT		ANNUAL	
PRODUCT	UNITS	EAU		PRINCIPAL		PRINCIPAL		INSTLMT. (2)	
Single Family Residence 778.00	1.00		$10,214,733.24		$13,129.48		$974,400.98	
Commercial	53.85	0.75		$530,266.76		$9,847.11		$50,583.06	
TOTAL	831.85			$10,745,000.00				$1,024,984.04	

(1) Allocation of Series 2022 Assessments based on existing EAU methodology.	
(2) Includes estimated Walton County collection costs/payment discounts, which may fluctuate.	
(3) The Series 2005 Assessments based on new development plan.	

PER UNIT INSTLMT. (2)		
SERIES 2005
REMAINING PRINCIPAL	
SERIES 2005
ANNUAL INSTLMT. (3)	
$1,252.44		$15,680.06	$1,436.83	
$939.33		$11,762.79	$1,077.63	

CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2022

26-3S-18-16405-000-0110	EBSCO GULF COAST DEV INC	C	$9,847.11	$939.33	
26-3S-18-16405-000-0130	EBSCO GULF COAST DEV INC	C	$9,847.11	$939.33	
26-3S-18-16405-000-0120	EBSCO GULF COAST DEV INC	C	$9,847.11	$939.33	
26-3S-18-16435-000-1010	EBSCO GULF COAST DEVELOPMENT	C	$9,847.11	$939.33	
27-3S-18-16423-000-0010	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16423-000-0020	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16423-000-0030	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16423-000-0040	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16423-000-0050	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16423-000-0060	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16423-000-0070	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16423-000-0080	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16423-000-0090	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16423-000-0100	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16423-000-0110	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16423-000-0120	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16423-000-0130	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16423-000-0140	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0070	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0080	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16443-000-0100	FOX THOMAS W & MERRILEE	SF	$13,129.48	$1,252.44	
27-3S-18-16443-000-0110	MURDY MICHAEL J & BETH A	SF	$13,129.48	$1,252.44	
27-3S-18-16443-000-0120	PUGH FAMILY TRUST	SF	$13,129.48	$1,252.44	
27-3S-18-16443-000-0130	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16443-000-0140	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16443-000-0150	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16443-000-0160	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16443-000-0170	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16443-000-0180	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16443-000-0190	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16443-000-0200	RUSSELL PETER	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0010	TURK ALAN M AS TRUSTEE &	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0020	LEE HUI BAE HAROLD & JESSICA	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0030	VOGT ERIK N &	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0040	CORR GROUP LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0050	SINERVO KENNY R & CYNTHIA ANN	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0060	BACK 30 LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0070	GOLE NICHOLAS WILLIAM &	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0080	HEAD MARION D	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0090	RATHMINES LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0100	TESLOVICH BRIAN LYNN & CARA	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0110	46 N CHARLES ST LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0120	BARTON STONEY & STACI	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0130	HATTERICK PHILLIP KENT	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00A-0140	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00B-0010	P H LAYNE CAPITAL HOLDINGS LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00B-0020	HORTON KENNETH	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00B-0030	HAMM WILLIAM GERALD &	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00B-0040	WILLIS BRYAN & MOLLY	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00B-0070	LAWRENCE STEVE L &	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00B-0080	BOYCE CHRISTOPHER C & JULIET B	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00B-0090	CHRISTY SHEETS LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00B-0100	HELVESTON RONALD C & MELINDA H	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00C-0010	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00C-0020	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00C-0030	EVERS HENK H REVOCABLE TRUST	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00C-0040	BRYANT WILLIAM F & CAROL D	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00C-0050	MCRAE CHARLES F JR	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00C-0060	LOWDER JAMES K & MARGARET B	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00C-0070	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00C-0080	MCGEE CHARLES LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00D-0010	74 BUTTERWOOD ALLEY LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00D-0020	MAI KURT & ROBLYN	SF	$13,129.48	$1,252.44	

26-3S-18-16400-00D-0030	BUTTERWOOD ASSOCIATES LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00D-0040	KOURTIS PETER TRUST (50%) AND	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00D-0050	QUINTERO FERNANDO & DOLORES	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00D-0060	JONES JAIME A & MARY A LIVING	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00D-0070	366 N SOMERSET STREET ALYS LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00D-0080	GLEATON LUCIA ANN &	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00D-0090	THOMPSON J LAMAR JR & ADA	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00D-0100	MCCANN BRIAN L & RHONDA H	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00E-0010	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00E-0020	POIRRER GARY & SHARON	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00E-0030	AQUINO VINCENT A & YVETTE C	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00E-0040	GREGORY ANDREW JAMIESON	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00E-0050	JRD LAND LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00E-0060	BAW INVESTMENTS LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00E-0070	SPALDING JOSEPH CLARENCE &	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00E-0080	WHITTAKER ROBERT N JR & PEGGY	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00E-0090	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00F-0010	WHITE GUY & ALLISON	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00F-0020	BELL-MER LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00F-0030	22 WHITBY COURT LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00F-0040	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00F-0070	TANGUAY SCOTT ALAN AS TRUSTEE	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00F-0080	POPE JONATHAN A & AMY	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00F-0090	TAUB DAVID & LEIGH	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00F-0100	CASITA BONITA TRUST	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00G-0010	WILSON HEATH E & MISTYE A	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00G-0020	YATES MICHAEL ZANE & LORA	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00G-0030	FAULCONER GERALD & KAREN LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00G-0040	TAYLOR-MAY TRUST	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00G-0050	DBB ALYS BEACH LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00G-0060	LIKE A G6 LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00G-0070	TODD JERRY & LESLIE	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00G-0080	RYMER DONALD & KRISTIN	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00G-0090	BERTOLET TODD & RHONDA W ET AL	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00G-0100	G10 LEGACY TRUST	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00H-0010	FIACCO MAUREEN & JOHN	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00H-0020	FIVE J'S TRUST	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00H-0030	FOGELMAN MARK A & MARGO C	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00H-0040	CRAZY HORSE REALTY LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00H-0050	ALLEN JANET L AS TRUSTEE &	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00H-0060	SOMERSET LAND TRUST	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00H-0070	LANIER DAN L & SHERRY S	SF	$13,129.48	$1,252.44	
26-3S-18-16400-00H-0080	BERK RAFAEL H,DOROTHY NELL	SF	$13,129.48	$1,252.44	
26-3S-18-16401-00B-0050	MY TURF INVESTMENTS LP	SF	$13,129.48	$1,252.44	
26-3S-18-16401-00B-0060	LI HONG CHARLES AS TRUSTEE OF	SF	$13,129.48	$1,252.44	
26-3S-18-16401-00F-0050	ASHFORD D LEON & BARBARA S	SF	$13,129.48	$1,252.44	
26-3S-18-16401-00F-0060	NATCHER JOE B JR REVOC TRUST	SF	$13,129.48	$1,252.44	
26-3S-18-16402-00D-0110	200 NORTH CHARLES LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16402-00D-0120	LOIA MICHAEL & KATHRYN	SF	$13,129.48	$1,252.44	
26-3S-18-16402-00D-0130	WEINER STEVEN FIELD AS TRUSTEE	SF	$13,129.48	$1,252.44	
26-3S-18-16405-000-0210	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16405-000-0220	NOEL ASHTON P &	SF	$13,129.48	$1,252.44	
26-3S-18-16405-000-0230	203 LUCIAN LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16405-000-0310	BEZANIS CHRISTIANA ZOUZIAS	SF	$13,129.48	$1,252.44	
26-3S-18-16405-000-0320	KIRBY C KENTON TRUSTEE AND	SF	$13,129.48	$1,252.44	
26-3S-18-16405-000-0330	PETERSEN/RHINEHEART-ALYS BEACH	SF	$13,129.48	$1,252.44	
26-3S-18-16405-000-0410	MADDOX RUSSELL W JR &	SF	$13,129.48	$1,252.44	
26-3S-18-16405-000-0420	BEN F BEARD FAMILY LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00Q-0010	BUTLER BEN ROBERT	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00Q-0020	1405 LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00Q-0030	TALUJU PROPERTIES AND	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00Q-0040	LATITUDE 30 LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00Q-0050	DOMIN RONALD M	SF	$13,129.48	$1,252.44	

26-3S-18-16410-00Q-0060	MOON CANYON LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00Q-0080	DEBARTOLA FRANK & DEBORAH	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00Q-0090	59CALIZA LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00Q-0100	LAVMAC ALYS BEACH LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00R-0010	HOWELL PAMELA AS TRUSTEE	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00R-0020	ROGER FAMILY TRUST	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00R-0030	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00R-0040	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00R-0050	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00R-0060	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0030	GBH ALYS LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0040	FOGELMAN RICHARD L & KIMBERLY	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0050	36 SPICE BERRY ALLEY LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0060	BOOS JULIE AS TRUSTEE	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0070	SHEARER ANDREW B & STEPHANIE A	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0080	FULLER TODD MICHAEL &	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0090	FELTON JAMES B & HEATHER T	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0100	BENSON SHEILA D	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0110	CADOGAN MATTHEW J & MEGAN D	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0120	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0130	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0140	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0150	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0160	RESNICOW JACOB	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0170	MCDONALD RENEE L	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0180	MORRELL SCOTT & MONICA	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0190	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0200	HARRELL VICKI L	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0210	BARBIE LOVES ALYS LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0220	SUDDERTH WILLIAM P &	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0230	HOLLEY TERRI MCRAE REVOCABLE	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0240	DELLA BEACH LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0250	MILLER LAURA B	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0260	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0270	ARNOLD PAUL E & SILVANA	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0280	WRIGHT DENNIS JAMES &	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0290	DEMENT MATTHEW TRUSTEE	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0300	THOMPSON DAVID & SARAH MOODY	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0310	BENNETT BRUCE LEE &	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0320	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0330	RIBACIAUSKAS ZYDRUNAS &	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0340	HOKE GEORGE ALDEN & MARILYN K	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0350	MCCREERY DONNA S AS TRUSTEE OF	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0360	CIVELLO KENNETH & JENNIFER	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0370	WESTGATE CIRCLE TRUST	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0380	BAKER CORNELIA &	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0390	CMM NORTH FLORIDA INC	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0400	HANKINS WILLIAM J (1/3%) &	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0410	POPE MARION THOMAS III	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0420	WEAVER WILL & LAURA	SF	$13,129.48	$1,252.44	
26-3S-18-16410-00U-0430	GUNN JOSEPH M & JULIE W	SF	$13,129.48	$1,252.44	
26-3S-18-16411-00Q-0070	BARTLING JOHN B & LISA J	SF	$13,129.48	$1,252.44	
26-3S-18-16411-00Q-0140	TOMLIN GEORGE B III &	SF	$13,129.48	$1,252.44	
26-3S-18-16411-00Q-0150	18TH STREET DEVELOPMENT GROUP	SF	$13,129.48	$1,252.44	
26-3S-18-16412-00U-0010	LEESON DOUGLAS & HOLLY	SF	$13,129.48	$1,252.44	
26-3S-18-16412-00U-0020	DENBO FAMILY REVOCABLE TRUST	SF	$13,129.48	$1,252.44	
26-3S-18-16412-00U-0440	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16412-00U-0450	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16412-00U-0460	SILBER JUSTIN & JULIE C	SF	$13,129.48	$1,252.44	
26-3S-18-16413-00Q-0110	SELK JASON DAVID & MARA AILEEN	SF	$13,129.48	$1,252.44	
26-3S-18-16413-00Q-0120	RABITO FELIX G JR & MARY	SF	$13,129.48	$1,252.44	
26-3S-18-16420-000-00P1	138 N SOMERSET LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16420-000-00P2	BILLS REVOCABLE LIVING TRUST	SF	$13,129.48	$1,252.44	

26-3S-18-16420-000-00P3	MORAN JERI &	SF	$13,129.48	$1,252.44	
26-3S-18-16420-000-00P4	WRIGHT BENJAMIN TRUST	SF	$13,129.48	$1,252.44	
26-3S-18-16420-000-00P5	HOKE GEORGE ALDEN & MARILYN K	SF	$13,129.48	$1,252.44	
26-3S-18-16420-000-00P6	YATES MICHAEL ZANE & LORI BETH	SF	$13,129.48	$1,252.44	
26-3S-18-16420-000-00P7	RIDGEWAY MICHAEL J	SF	$13,129.48	$1,252.44	
26-3S-18-16420-000-00P8	MULHEARN THOMAS JAMES IV &	SF	$13,129.48	$1,252.44	
26-3S-18-16420-000-00P9	STRENG JARROD T	SF	$13,129.48	$1,252.44	
26-3S-18-16430-00P-0100	MBC & ASSOCIATES HOLDINGS LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16430-00P-0110	WAHOO INVESTMENTS LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16430-00P-0120	ATKINSON WILLIAM &	SF	$13,129.48	$1,252.44	
26-3S-18-16430-00P-0130	SPELL R A & SANDRA D	SF	$13,129.48	$1,252.44	
26-3S-18-16430-00T-0070	MESHRI JULIA A REVOC TRUST	SF	$13,129.48	$1,252.44	
26-3S-18-16430-00T-0080	CALVERT NANCY & MICHAEL R	SF	$13,129.48	$1,252.44	
26-3S-18-16430-00T-0090	NONESUCH LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16430-00T-0100	LOCANDRO DREW M & BETH A	SF	$13,129.48	$1,252.44	
26-3S-18-16431-00T-0050	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16431-00T-0060	ROBINSON ROBERT D & LESLIE ANN	SF	$13,129.48	$1,252.44	
26-3S-18-16432-00T-0000	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16432-00T-0010	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16432-00T-0020	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16432-00T-0030	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16432-00T-0040	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
26-3S-18-16435-000-2010	CHOMSKY DON & AMY	SF	$13,129.48	$1,252.44	
26-3S-18-16435-000-2020	HAMILTON JACQUELYN P	SF	$13,129.48	$1,252.44	
26-3S-18-16435-000-2030	DALE MARJORIE S 2018 REVOCABLE	SF	$13,129.48	$1,252.44	
26-3S-18-16435-000-3010	LANE CHRIS M & LESLIE D	SF	$13,129.48	$1,252.44	
26-3S-18-16435-000-3020	BACKES MARISSA	SF	$13,129.48	$1,252.44	
26-3S-18-16435-000-3030	BIG RED VENTURES LLC	SF	$13,129.48	$1,252.44	
26-3S-18-16435-000-4010	CALVERT MICHAEL & NANCY	SF	$13,129.48	$1,252.44	
26-3S-18-16435-000-4020	528 AT THE LAKE LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0HH-0010	SEARS TERRY & CHERRY	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0HH-0020	ALYS ELC LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0HH-0030	DINKINS JEFFREY BRIAN	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0HH-0040	MKW PROPERTIES LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0HH-0050	CLEGG MARCUS & ANGELA	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0HH-0060	FREER JOHN T & NINA C	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0HH-0070	25 MOONGATE COURT LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0HH-0080	SMITH BILL I	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0HH-0090	LUANA BEACH INVESTMENTS LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0010	89SCHARLES LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0020	SANCHEZ CARLOS JOSE	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0030	TUCKER RICHARD B & JACLYN S	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0040	ALL STAR PROPERTIES I LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0050	ALL STAR PROPERTIES I LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0060	BUFFINGTON R STEVE	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0080	JAYNES RICHARD PATTON	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0090	FREESE RICHARD A	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0100	BREEDLOVE PAMELA	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0110	BRYANT JAMES E & TARA M	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0120	KEPANO ANTHONY H &	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0130	YOUNG GARY J & SANDRA P	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0140	DOHERTY DONALD P & JANE F	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0JJ-0150	SHAW ALYS BEACH LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0NN-0010	WONDERLAND IN ALYS LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0NN-0020	OBERFELD STEVEN JAMES &	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0NN-0030	ALLES RODNEY & ANGELA MARIE	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0NN-0040	FS PROPERTIES OF FLORIDA LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0NN-0050	PAYTON PATRICK SEAN	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0NN-0060	SHAW ALYS BEACH NN6 LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0NN-0070	PUGH MARK	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0NN-0080	PARKS BOB & MARIE	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0NN-0090	PHARMA-SERVE LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0NN-0100	WATSON IAIN M AS TRUSTEE AND	SF	$13,129.48	$1,252.44	

27-3S-18-16420-0NN-0110	JOHNSON ISA IRREVOCABLE TRUST	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0PP-0010	GOLDEN SHORES LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0PP-0040	ROLLINS GLEN W &	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0PP-0050	NIKETAS VASILIOS A & HANNAH D	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0PP-0060	BOND MICHAEL S & JOHNNIE H	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0PP-0070	CASTRO DANIEL & ANNA	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0PP-0080	WEAVER WILL & LAURA	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0PP-0090	KING STEPHEN C	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0PP-0100	KING STEPHEN C	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0PP-0110	STEWART JAMES C	SF	$13,129.48	$1,252.44	
27-3S-18-16420-0PP-0120	OSBORNE DAVID	SF	$13,129.48	$1,252.44	
27-3S-18-16421-0LL-0010	FRANKENBERG CHRISTOPHER &	SF	$13,129.48	$1,252.44	
27-3S-18-16421-0LL-0020	NEWCASTLE HOLDINGS LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16421-0LL-0030	HAMMOND LIVING TRUST	SF	$13,129.48	$1,252.44	
27-3S-18-16421-0LL-0040	AMRICH PAUL &	SF	$13,129.48	$1,252.44	
27-3S-18-16421-0LL-0050	WORLEY HOWARD DEAN & AMY	SF	$13,129.48	$1,252.44	
27-3S-18-16421-0LL-0060	PATTERSON LIVING TRUST	SF	$13,129.48	$1,252.44	
27-3S-18-16421-0LL-0070	SINERVO KENNY R & CYNTHIA ANN	SF	$13,129.48	$1,252.44	
27-3S-18-16421-0LL-0080	WILLIAMS JAMES E &	SF	$13,129.48	$1,252.44	
27-3S-18-16421-0LL-0090	SUDYSTIN LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16421-0LL-0100	C C CAVENDER PROPERTIES LTD	SF	$13,129.48	$1,252.44	
27-3S-18-16421-0LL-0110	J&KL LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16421-0LL-0120	GRB BEACH PROPERTIES LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16422-0PP-0020	III INVESTMENTS LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16422-0PP-0030	III INVESTMENTS LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0KK-0010	182 SEA GARDEN LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0KK-0020	MOSES CARL D & AMY E	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0KK-0030	CARNEY JAMES P & BARBARA C	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0KK-0040	FOWLER ROBIN J	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0KK-0050	KELLY PAPPAS CROCKETT	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0KK-0060	ROLLINS RUTH ELLEN	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0010	SAUNDERS ALEXEE ALLEN TRUST	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0020	OLIVE & ELOISE LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0030	WALLWORK TROY & PATRICIA	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0040	62 SVA LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0050	WEILL DAVID & JACQUELINE K	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0060	HIRSBERG BRYANT & JILL	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0070	SOAM LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0080	ANDERSON BARBARA T	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0090	ROLLINS RUTH ELLEN	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0100	CORR BRYAN A & TINA N	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0110	ROLLINS RUTH ELLEN	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0120	ALCHEMY VENTURE HOLDINGS LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0130	BLAKEY STEVE	SF	$13,129.48	$1,252.44	
27-3S-18-16430-0MM-0140	CRANE CHERYL	SF	$13,129.48	$1,252.44	
27-3S-18-16431-0AA-0010	TAYLOR ROBERT LEE III	SF	$13,129.48	$1,252.44	
27-3S-18-16431-0AA-0020	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-0AA-0030	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-0AA-0040	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-0AA-0050	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-0AA-0060	KNORR DANIEL J & ANGEL R	SF	$13,129.48	$1,252.44	
27-3S-18-16431-0AA-0070	CATOMA LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-0AA-0080	WATTS LIVING TRUST	SF	$13,129.48	$1,252.44	
27-3S-18-16431-00Z-0010	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-00Z-0020	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-00Z-0030	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-00Z-0040	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-00Z-0050	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-00Z-0060	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-00Z-0070	200 NORTH CHARLES LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-00Z-0080	200 NORTH CHARLES LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-00Z-0090	200 NORTH CHARLES LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16431-00Z-0210	RUSSELL PETER	SF	$13,129.48	$1,252.44	

27-3S-18-16435-00J-0010	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16435-00J-0020	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16435-00J-0030	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16435-00J-0040	MILES SOUTH LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16435-00J-0050	FIELDSTONE TRAIL LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16435-00J-0060	RIBACIAUSKAS ZYDRUNAS &	SF	$13,129.48	$1,252.44	
27-3S-18-16435-00J-0070	WGB3 PROPERTIES LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16435-00J-0080	TERRY FALON H & SHANNON B	SF	$13,129.48	$1,252.44	
27-3S-18-16435-00J-0090	EUBANKS R GLENN AS TRUSTEE	SF	$13,129.48	$1,252.44	
27-3S-18-16435-00J-0100	BROOKS FRANKLIN H &	SF	$13,129.48	$1,252.44	
27-3S-18-16435-00J-0110	RSRH CHARLES ST LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16435-00J-0120	SAACKE CHARLES TRAVIS AS CO-	SF	$13,129.48	$1,252.44	
27-3S-18-16435-00J-0130	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16435-00J-0140	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16436-00K-0010	36 SEA STAR COURT LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16436-00K-0020	GARNER JAMES M & TRACIE G	SF	$13,129.48	$1,252.44	
27-3S-18-16436-00K-0030	JOHNSON MATTHEW S AS TRUSTEE &	SF	$13,129.48	$1,252.44	
27-3S-18-16436-00K-0040	MCCALLION JACK & CHERYL	SF	$13,129.48	$1,252.44	
27-3S-18-16436-00K-0050	NQL INVESTMENTS LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16436-00K-0060	BENEDETTO DEREK F & FARRAH S	SF	$13,129.48	$1,252.44	
27-3S-18-16436-00K-0070	MITCHELL JOHN DAVID & ANGELA S	SF	$13,129.48	$1,252.44	
27-3S-18-16436-00K-0080	MCWHORTER STUART CLAYTON AS	SF	$13,129.48	$1,252.44	
27-3S-18-16436-00K-0090	ROBERSON TIMOTHY R &	SF	$13,129.48	$1,252.44	
27-3S-18-16437-00L-0010	RODE JAMES P & SHELLY T	SF	$13,129.48	$1,252.44	
27-3S-18-16437-00L-0020	SMITH CHARLES RANDALL &	SF	$13,129.48	$1,252.44	
27-3S-18-16437-00L-0030	PELTS BARRY & BILLIE	SF	$13,129.48	$1,252.44	
27-3S-18-16437-00L-0040	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16437-00L-0050	ZELENAK JOHN	SF	$13,129.48	$1,252.44	
27-3S-18-16437-00L-0060	DEBOER DAVID KENT &	SF	$13,129.48	$1,252.44	
27-3S-18-16437-00L-0070	2019 RENFROE FAMILY REVOC TRST	SF	$13,129.48	$1,252.44	
27-3S-18-16437-00L-0080	SILVERTON ALYS TWO LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16437-00L-0090	HUMPHREY WILLIAM WARREN III &	SF	$13,129.48	$1,252.44	
27-3S-18-16437-00L-0100	DBB ALYS BEACH LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16437-00L-0110	CK BY THE SEA LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16437-00L-0120	GREEN CHILE BEACH LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0010	FREESE RICHARD A	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0020	STEWART JULIE	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0030	POIRRIER GARY & SHARON	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0040	37 SEA CASTLE ALLEY LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0050	ROLLINS GLEN W & MORGAN G	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0060	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0110	OCEAN BLUE DESTIN RESORT	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0120	DESTIN PROPERTIES III LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0210	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0220	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0230	NIKETAS VASILIOS A & HANNAH D	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0240	SKALLA ROBERT MARC	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0250	PERRY TIMOTHY E & HEIDI	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0260	103 SAND HILL CIRCLE LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0270	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16438-0AC-0280	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16439-00M-0010	DG30A LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16439-00M-0020	NQL INVESTMENTS LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16439-00M-0030	TYNER KEVIN J TRUST	SF	$13,129.48	$1,252.44	
27-3S-18-16439-00M-0040	EVANS RICHARD BRENT &	SF	$13,129.48	$1,252.44	
27-3S-18-16439-00M-0050	WALTER KARL FREDRICK &	SF	$13,129.48	$1,252.44	
27-3S-18-16439-00M-0080	30-A REALTY INC	SF	$13,129.48	$1,252.44	
27-3S-18-16439-00M-0090	SILVERTON ALYS ONE LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16439-00M-0100	EBSCO GULF COAST DEV INC	SF	$13,129.48	$1,252.44	
27-3S-18-16439-00M-0110	DARLAND TYE GARY AS TRUSTEE	SF	$13,129.48	$1,252.44	
27-3S-18-16439-00M-0120	CANNATA KATHERINE JOHNSON &	SF	$13,129.48	$1,252.44	
27-3S-18-16439-00M-0130	JANSON FAMILY TRUST &	SF	$13,129.48	$1,252.44	
27-3S-18-16439-00M-0140	KYNERD KEVIN BARTLEY	SF	$13,129.48	$1,252.44	

27-3S-18-16440-00M-0060	HAMM HUNTER STEVEN	SF	$13,129.48	$1,252.44	
27-3S-18-16440-00M-0070	SIMON LESLY	SF	$13,129.48	$1,252.44	
27-3S-18-16441-000-0010	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16441-000-0020	SKRIEN SCOTT D &	SF	$13,129.48	$1,252.44	
27-3S-18-16441-000-0040	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16441-000-0050	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16441-000-0060	MULLER CHRISTOPHER SEAN & TARA	SF	$13,129.48	$1,252.44	
27-3S-18-16441-000-0100	SWINDAL ROY & DEBORAH	SF	$13,129.48	$1,252.44	
27-3S-18-16441-000-0110	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16441-000-0120	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16441-000-0130	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16441-000-0140	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16441-000-0150	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16441-000-0160	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16441-000-0170	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16442-000-0010	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16442-000-0020	30A HOMES DEVELOPMENT LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16442-000-0030	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16442-000-0040	LOIA MICHAEL & KATHRYN	SF	$13,129.48	$1,252.44	
27-3S-18-16442-000-0050	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16442-000-0060	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16442-000-0070	EBSCO GULF COAST DEVELOPMENT	SF	$13,129.48	$1,252.44	
27-3S-18-16000-027-0060	AB GF DEVELOPMENT LLC	SF	$13,129.48	$1,252.44	
27-3S-18-16000-027-0010	EBSCO GULF COAST DEVELOPMENT	Unplatted - 23.79 acres	$2,556,105.41	$243,831.29	
26-3S-18-16000-003-0000	EBSCO GULF COAST DEVELOPMENT	Unplatted - 27.336 acres	$2,937,103.72	$280,175.38	

TOTAL:	$10,745,000.00	$1,024,984.04

(1) For informational purposes only. Please contact the District Manager for a formal payoff.
(2) Installment amounts include Walton County collection costs and early payment discounts.

Tab 5

RESOLUTION 2022-07

A RESOLUTION SETTING FORTH THE SPECIFIC TERMS OF THE DISTRICT’S CAPITAL IMPROVEMENT REVENUE REFUNDING BONDS, SERIES 2022; CONFIRMING AND ADOPTING SUPPLEMENTAL SPECIAL ASSESSMENT ALLOCATION REPORT; CONFIRMING, ALLOCATING AND AUTHORIZING THE COLLECTION OF SPECIAL ASSESSMENTS SECURING SERIES 2022 REFUNDING BONDS; PROVIDING FOR THE SUPPLEMENT TO THE IMPROVEMENT LIEN BOOK; PROVIDING FOR CONFLICTS, SEVERABILITY AND AN EFFECTIVE DATE.

RECITALS

WHEREAS, the Somerset Community Development District (“District”), has previously indicated its intention to undertake, install, establish, construct and/or acquire certain public infrastructure improvements and to finance such public infrastructure improvements through the imposition of special assessments on benefitted property within the District and the issuance of bonds; and

WHEREAS, the District, on May 23, 2005, in accordance with Chapters 170, 190 and 197, Florida Statutes, without limitation, adopted Resolution 2005-25 A RESOLUTION AUTHORIZING DISTRICT PROJECTS; EQUALIZING, APPROVING, CONFIRMING, AND LEVYING SPECIAL ASSESSMENTS ON PROPERTY SPECIALLY BENEFITTED BY SUCH PROJECTS TO PAY THE COSTS THEREOF; PROVIDING FOR THE PAYMENT AND THE COLLECTION OF SUCH SPECIAL ASSESSMENTS BY THE METHODS PROVIDED FOR BY CHAPTERS 170, 190, AND 197, FLORIDA STATUTES; CONFIRMING THE DISTRICT’S INTENTION TO ISSUE CAPITAL IMPROVEMENT REVENUE BONDS; MAKING PROVISIONS FOR TRANSFERS OF REAL PROPERTY TO GOVERNMENTAL BODIES; PROVIDING FOR THE RECORDING OF AN ASSESSMENT NOTICE; PROVIDING FORSEVERABILITY, CONFLICTS AND AN EFFECTIVE DATE; and

WHEREAS, Resolution 2005-25 was adopted in connection with the District’s issuance of its $21,045,000 Capital Improvement Revenue Bonds, Series 2005 (the “Series 2005 Bonds”); and

WHEREAS, in order to achieve both aggregate and annual debt service savings, the District has determined it is in the best interest of the District, its residents and landowners, to refinance the outstanding Series 2005 Bonds via the issuance of refunding bonds; and

WHEREAS, the Board, previously adopted, after notice and public hearing, Resolution 2005-25 for the purpose of equalizing, approving, confirming and levying special assessments to secure the Series 2005 Bonds; and

WHEREAS, in order to affect such refunding, on March 23, 2022, the District’s Board of Supervisors (the “Board”) adopted Resolution 2022-03, authorizing the issuance of Somerset

Community Development District Capital Improvement Revenue Refunding Bonds, Series 2022, in an aggregate principal amount not to exceed $10,745,000 (the “Series 2022 Refunding Bonds”); and

WHEREAS, pursuant to and consistent with Resolution 2005-25, this Resolution sets forth the terms of the Series 2022 Refunding Bonds and confirms the lien of the levy of special assessments securing the Series 2022 Refunding Bonds.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE SOMERSET COMMUNITY DEVELOPMENT DISTRICT AS FOLLOWS:

SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to the provisions of Florida law, including without limitation Chapters 170, 190, and 197, Florida Statutes, and Resolution 2005-25.

SECTION 2. FINDINGS. The Board hereby finds and determines as follows:

On May 23, 2005, the District, after due notice and public hearing, adopted Resolution 2005-25, which, among other things, equalized, approved, confirmed and levied special assessments on property benefitting from the infrastructure improvements authorized by the District. This Resolution shall supplement Resolution 2005-25 for the purpose of setting forth the specific terms of the Series 2022 Refunding Bonds and certifying the amount of the lien of the special assessments securing any portion of the Series 2022 Refunding Bonds, including interest, costs of issuance, and the number of payments due.

The Final Supplemental Special Assessment Allocation Report for the Capital Improvement Revenue Refunding Bonds, Series 2022, dated April 5, 2022, attached to this Resolution as Exhibit A (the “Supplemental Assessment Methodology”), applies the May 23, 2005, Final Special Assessment Allocation Report for the Capital Improvement Revenue Bonds, which was approved by Resolution 2005-25 (the “2005 Assessment Methodology,”), to the actual terms of the Series 2022 Refunding Bonds. The Supplemental Assessment Methodology is hereby approved, adopted and confirmed. The District ratifies its use in connection with the sale of the Series 2022 Refunding Bonds.

The Series 2005 Project, as described in the Engineer’s Report on District Improvements and Estimated Probable Construction Costs, dated April 8, 2005, and deemed complete by Moore Bass Consulting in 2008, continues to specially benefit all of the properties identified in the Supplemental Assessment Methodology. The benefits of the Series 2005 Project exceed the assessments allocated as provided in the 2005 Assessment Methodology and the Supplemental Assessment Methodology.

The Series 2022 Refunding Bonds, under the terms set forth in more detail herein, provide significant economic savings to the District and the sale of the Series 2022 Refunding Bonds is in the best interests of the District, its landowners and residents.

The immediate benefits of the refinancing, including lower annual assessments resulting from interest rate savings, outweigh the potential costs associated with obligations of the District in the event the Series 2022 Refunding Bonds were deemed taxable.

SECTION 3.  CONFIRMATION OF MAXIMUM ASSESSMENT LIEN FOR
SERIES 2022 REFUNDING BONDS. This Resolution is intended to set forth the terms of the Series 2022 Refunding Bonds and the final amount of the lien of the special assessments securing those bonds. The Series 2022 Refunding Bonds, in a par amount of $10,745,000, shall bear such rates of interest and maturity as shown on Exhibit B attached hereto. The sources and uses of funds of the Series 2022 Refunding Bonds shall be as set forth in Exhibit C. The debt service due on the Series 2022 Refunding Bonds is set forth on Exhibit D attached hereto. The lien of the special assessments securing the Series 2022 Refunding Bonds on certain developable land within the District, as such land is described in Exhibit A, shall be the principal amount due on the Series 2022 Refunding Bonds, together with accrued but unpaid interest thereon, together with the amount by which the annual assessments shall be grossed up to include early payment discounts required by law and costs of collection.

SECTION 4.	ALLOCATION OF ASSESSMENTS SECURING SERIES 2022 REFUNDING BONDS.

The special assessments for the Series 2022 Refunding Bonds shall be allocated in accordance with Exhibit A. The Supplemental Assessment Methodology is consistent with the District’s 2005 Assessment Methodology. The Supplemental Assessment Methodology, considered herein, reflects the actual terms of the issuance of the District’s Series 2022 Refunding Bonds. The estimated costs of collection of the special assessments for the Series 2022 Refunding Bonds are as set forth in the Supplemental Assessment Methodology.

The lien of the special assessments securing the Series 2022 Refunding Bonds includes that certain land within the District (as those district boundaries may be adjusted pursuant to law) that originally secured the Series 2005 Bonds, and as such land is ultimately defined and set forth in plats, site plans or other designations of developable acreage.

The District shall begin annual collection of special assessments for the Series 2022 Refunding Bonds debt service payment using the methods available to it by law. Beginning with the first debt service payment on November 1, 2022, there shall be sixteen (16) years of semi- annual installments of principal and interest, as reflected on Exhibit D.

The District hereby certifies the special assessments for collection and directs staff to take all actions necessary to meet the time and other deadlines imposed for collection by Walton County and other Florida law. The District intends, unless inapplicable or unavailable, to collect the special assessments securing the Series 2022 Refunding Bonds using the Uniform Method in Chapter 197, Florida Statutes. The District Manager shall prepare or cause to be prepared each year a tax roll for purposes of effecting the collection of the special assessments and present same to the District Board as required by law. The District Manager is further directed and authorized to take all actions necessary to collect any prepayments of debt as and when due and to collect

special assessments on unplatted property using methods available to the District authorized by Florida law.

SECTION 5. IMPROVEMENT LIEN BOOK. Immediately following the adoption of this Resolution these special assessments as reflected herein shall be recorded by the Secretary of the Board of the District in the District’s Improvement Lien Book. The special assessment or assessments against each respective parcel shall be and shall remain a legal, valid and binding first lien on such parcel until paid and such lien shall be coequal with the lien of all state, county, district, municipal or other governmental taxes and superior in dignity to all other liens, titles, and claims.

SECTION 6. OTHER PROVISIONS REMAIN IN EFFECT.	This Resolution is
intended to supplement Resolution 2005-25, which remains in full force and effect. This Resolution and Resolution 2005-25 shall be construed to the maximum extent possible to give full force and effect to the provisions of each resolution. All District resolutions or parts thereof in actual conflict with this Resolution are, to the extent of such conflict, superseded and repealed.

SECTION 7. SEVERABILITY. If any section or part of a section of this resolution be declared invalid or unconstitutional, the validity, force and effect of any other section or part of a section of this resolution shall not thereby be affected or impaired unless it clearly appears that such other section or part of a section of this resolution is wholly or necessarily dependent upon the section or part of a section so held to be invalid or unconstitutional.

SECTION 8. EFFECTIVE DATE. This Resolution shall become effective upon its adoption.

[remainder of page intentionally left blank]

APPROVED AND ADOPTED THIS 18th DAY OF APRIL 2022.

SOMERSET COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Vice Chairperson, Board of Supervisors

Exhibit A:	Final Supplemental Special Assessment Allocation Report, dated April 5, 2022
Exhibit B:	Maturities and Coupon of Series 2022 Refunding Bonds
Exhibit C:	Sources and Uses of Funds for Series 2022 Refunding Bonds
Exhibit D:	Annual Debt Service Payment Due on Series 2022 Refunding Bonds

Exhibit A
Supplemental Assessment Methodology

Exhibit B
Maturities and Coupon of Series 2022 Refunding Bonds

Sources and Uses of Funds for Series 2022 Refunding Bonds

Annual Debt Service Payment Due on Series 2022 Refunding Bonds

Tab 6

This Instrument Prepared by and Return to:

KUTAK ROCK LLP
107 West College Avenue Tallahassee, Florida 32301

SOMERSET COMMUNITY DEVELOPMENT DISTRICT
AMENDED & RESTATED NOTICE OF IMPOSITION OF SPECIAL ASSESSMENTS

THIS AMENDED AND RESTATED NOTICE OF IMPOSITION OF SPECIAL ASSESSMENTS AMENDS AND RESTATES THE NOTICE OF IMPOSITION OF SPECIAL ASSESSMENTS RECORDED IN OFFICIAL RECORDS BOOK 2673, PAGE 1473 OF THE PUBLIC RECORDS OF WALTON COUNTY, FLORIDA.

PLEASE TAKE NOTICE that the Board of Supervisors of the Somerset Community Development District (the “District”), in accordance with Chapters 170, 190, and 197, Florida Statutes, previously adopted Resolutions 2005-22, 2005-23 and 2005-25 (the “Series 2005 Assessment Resolutions”) levying non-ad valorem special assessments on real property within the boundaries of the District that is specially benefited by the Series 2005 Project, as described in such Series 2005 Resolutions and in the District’s adopted Engineer’s Report, to pay debt service on the District’s Series 2005 Bonds (the “2005 Special Assessments”).
For the purpose of refunding the principal amount of the District’s outstanding Series 2005 Bonds, the District issued its $10,745,000 Capital Improvement Revenue Refunding Bonds, Series 2022 (the “Series 2022 Bonds”). The Series 2022 Bonds are secured by special assessments levied pursuant to the Series 2005 Assessment Resolutions and Resolution 2022-07 (the “Series 2022 Assessment Resolution,” and together with the Series 2005 Assessment Resolutions, the “Assessment Resolution”) on certain of the real property within the boundaries of the District that is specially benefitted by the Series 2005 Project, as further described in the Assessment Resolution and in the District’s Final Supplemental Special Assessment Allocation Report for the Capital Improvement Revenue Refunding Bonds, Series 2022, dated April 5, 2022

(the “Series 2022 Special Assessments”). The description of the lands within the District on which the Series 2022 Special Assessments are imposed is attached to this Notice as Exhibit A.
Copies of the Final Supplemental Special Assessment Allocation Report for the Capital Improvement Revenue Refunding Bonds, Series 2022 and the Assessment Resolution may be obtained by contacting the District office at:
Somerset Community Development District Rizzetta & Company, Inc.
3434 Colwell Ave, Suite 200
Tampa, FL 33614
(850) 334-9055

The non-ad valorem special assessments provided for in the Assessment Resolution were legally and validly determined and levied in accordance with all applicable requirements of Florida law, and these non-ad valorem special assessments constitute and will at all relevant times in the future constitute, legal, valid, and binding first liens on the land against which assessed until paid, coequal with the lien of all state, county, district, and municipal taxes, and superior in dignity to all other liens, titles, and claims.
The District is a special-purpose form of local government established pursuant to and governed by Chapter 190, Florida Statutes. Pursuant to Section 190.048, Florida Statutes, you are hereby notified that: THE SOMERSET COMMUNITY DEVELOPMENT DISTRICT MAY IMPOSE AND LEVY TAXES OR ASSESSMENTS, OR BOTH TAXES AND ASSESSMENTS, ON THIS PROPERTY. THESE TAXES AND ASSESSMENTS PAY THE CONSTRUCTION, OPERATION, AND MAINTENANCE COSTS OF CERTAIN PUBLIC FACILITIES AND SERVICES OF THE DISTRICT AND ARE SET ANNUALLY BY THE GOVERNING BOARD OF THE DISTRICT. THESE TAXES AND ASSESSMENTS ARE IN ADDITION TO COUNTY AND OTHER LOCAL

GOVERNMENTAL TAXES AND ASSESSMENTS AND ALL OTHER TAXES AND ASSESSMENTS PROVIDED FOR BY LAW.

IN WITNESS WHEREOF, this Notice has been executed on the 20th day of April, 2022, and recorded in the Official Records of Walton County, Florida.
SOMERSET COMMUNITY DEVELOPMENT DISTRICT

Vice Chairperson, Board of Supervisors

Witness	Witness

Print Name	Print Name

STATE OF FLORIDA COUNTY OF WALTON

The foregoing instrument was acknowledged before me by means of  physical presence or  online notarization, this 20th day of April, 2022 by John Rosenberg, Vice Chairperson of the Somerset Community Development District, who is personally known to me or who has produced 	 as identification.

Print Name:		 Notary Public, State of Florida
Commission No.:	 My Commission Expires: 	

Exhibit A

Legal Description

Tab 7

This instrument was prepared by and upon recording should be returned to:

KUTAK ROCK LLP
107 West College Avenue Tallahassee, Florida 32301

FIRST AMENDMENT TO AGREEMENT BY AND BETWEEN THE SOMERSET COMMUNITY DEVELOPMENT DISTRICT AND EBSCO GULF COAST DEVELOPMENT, INC., REGARDING THE TRUE UP AND PAYMENT OF SERIES 2005 ASSESSMENTS

THIS FIRST AMENDMENT (“First Amendment”) is made and entered into, by and between, and to be effective as of April 20, 2022:

Somerset Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, and located in Walton County, Florida, whose address is 3434 Colwell Avenue, Suite 200, Tampa, FL 33614 (“District”); and

EBSCO Gulf Coast Development, Inc., a Delaware corporation, whose mailing address is P.O. Box 5600, Birmingham, Alabama 32461 (“Developer”).

RECITALS

WHEREAS, effective July 12, 2005, the District and Developer previously entered into an Agreement By and Between the Somerset Community Development District and EBSCO Gulf Coast Development, Inc., Regarding the True Up and Payment of Series 2005 Assessments (“True-Up Agreement”), whereby, generally stated, the Developer agreed to make certain true-up payments in the event that insufficient homes were constructed to support the repayment of the District’s Series 2005 Bonds,1 as set forth in the Series 2005 Assessment Report; and

WHEREAS, for the purpose of refunding the principal amount of the District’s outstanding Series 2005 Bonds, the District issued its $10,745,000 Capital Improvement Revenue Refunding Bonds, Series 2022 (the “Series 2022 Bonds”). The Series 2022 Bonds are secured by special assessments levied pursuant to Resolution Nos. 2005-22, 2005-23, 2005-25, and 2022-07 (collectively, the “Assessment Resolution”) on certain of the real property within the boundaries of the District that is specially benefitted by the Series 2005 Project, as further described in the Assessment Resolution and in the District’s Final Supplemental Special Assessment Allocation Report for the Capital Improvement Revenue Refunding Bonds, Series 2022, dated April 5, 2022 (the “Series 2022 Special Assessments”). The description of the lands within the District on which the Series 2022 Special Assessments are imposed is attached to this First Amendment as Exhibit A.

WHEREAS, pursuant to Section 9 of the True-Up Agreement, the parties desire to amend the True-Up Agreement to modify the number and types of units required to be developed by the Developer upon the lands identified in Exhibit A.

1 All capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the True-Up Agreement. Copies of the True-Up Agreement, Assessment Resolution, and Supplemental Special Assessment Allocation Report may be obtained by contacting the office of the District Manager during regular business hours at Rizzetta & Company, Inc., 120 Richard Jackson Blvd., Suite 220, Panama City Beach, Florida 32407; Ph: (850) 334-9055.

NOW, THEREFORE, in consideration of the above recitals which the parties hereby agree are true and correct and are hereby incorporated by reference, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Developer and the District agree as follows:

RECITALS. The recitals so stated are true and correct and by this reference are incorporated into and form a material part of this First Amendment.

MODIFICATION OF TRUE-UP BASIS. Instead of the five hundred ninety-nine (599) residential units, sixty (60) hotel/inn units, and one hundred seventy-seven thousand (177,000) square feet of commercial space referenced in Section 4 of the True-Up Agreement, Developer shall develop a minimum of seven hundred seventy-eight (778) single family residential units and fifty-three thousand eight hundred fifty (53,850) square feet of commercial space on the lands identified in Exhibit A. It is this number and size of units that shall form the basis for all true-up calculations for the special assessments securing the District’s Series 2005 Bonds, as refunded by the Series 2022 Bonds and secured by the Series 2022 Special Assessments.

NO OTHER MODIFICATIONS. This First Amendment is intended to make only the amendment described in the above Section 2. All other provisions of the True-Up Agreement, as amended, shall remain in full force and effect.

AUTHORIZATION. The execution of this First Amendment has been duly authorized by the appropriate body or official of the District and the Developer; both the District and the Developer have complied with all of the requirements of law; and both the District and the Developer have full power and authority to comply with the terms and provisions of this instrument.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this First Amendment shall not affect the validity or enforceability of the remaining portions of the True-Up Agreement, as amended by this First Amendment, or any part of this agreement not held to be invalid or unenforceable.

COUNTERPARTS. This First Amendment may be executed in any number of counterparts, each of which when executed and delivered shall be an original; however, all such counterparts together shall constitute one and the same instrument. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.

[CONTINUED ON FOLLOWING PAGE]

WITNESS	SOMERSET COMMUNITY DEVELOPMENT DISTRICT

By: 		By: 	 Name: 		Name: 	
Title: 	

By: 	 Name: 	

STATE OF FLORIDA COUNTY OF 	

The foregoing instrument was acknowledged before me by means of  physical presence or  online notarization, this   day of 	, 2022, by 		, as 	 of Somerset Community Development District, who appeared before me this day in person, and who is either personally known to me, or produced 		 as identification.

NOTARY PUBLIC, STATE OF FLORIDA (NOTARY SEAL)	Name:	
(Name of Notary Public, Printed, Stamped or Typed as Commissioned)

WITNESS	EBSCO GULF COAST DEVELOPMENT, INC.

By: 	
Name: 		By: 	
Name: 	 Title: 	

By: 	 Name: 	

STATE OF FLORIDA COUNTY OF 	

The foregoing instrument was acknowledged before me by means of  physical presence or  online notarization, this   day of 	, 2022, by 		, as 	 of EBSCO Gulf Coast Development, Inc., who appeared before me this day in person, and who is either personally known to me, or produced 		__	 as identification.

NOTARY PUBLIC, STATE OF FLORIDA (NOTARY SEAL)	Name:	
(Name of Notary Public, Printed, Stamped or Typed as Commissioned)

EXHIBIT A

Tab 8

�w�
-:i1sE lS1 ':itrett
Pa!ldln• City, Flunda 32A0S
Pi1011e 850·76> 1721 Fa, 85U-872-D!!72

April12, 2022

Alys Beach
9581E County Road 30A Panama City Beach, FL. 32413 criggsby@alysbeach.com

RE: The supply wells for the irrigation system		
East Well:		
2- inch McCrometer Meter	2,825.00	
2-2inch Bolt and Gasket Kits @$36.00 each	$72.00	
Misc. Fittings & Materials	$56.00	
labor	$395.00	
Total	$3,348.00	

www.Emeraldcoastculhgao.com
RESID[Nl1Al COMMERIC/\t. INDU51 1l\LWMER TREATMENT PRODUCT> AND SERVICfS
CULLIGAN Df/\L[rt,Hll'SARt INDEPENO[NTLV OPfRATro

You (Ould glve your peopte

315 E 1s· uee,
Panama City, Florida 32405
Phone 850 763·17i I Fa., 850-872 0972

April 12, 2022

Alys Beach
9581E County Road 30A Panama City Beach, FL 32413 criggsby@alysbeach.com

RE: The supply wells for the irrigation system

McGee Well:
Need to clean out brine tank and salt is hard

Total	$195.00

www.Emeraldcoastculltgan.com
RtSIDEN11AL. COMMERICAl, l ,OUSTRIALWATER fREATMCNT PROOum AND SEAVICES
CULLIGAN Of AlfRSHIPS ARE INDEPENDCNTLV OPfRIIHO

315 E 1S'' Street PMdma City, Florlrla 2 05
Phone 850 7G., 1721 Fa• 8Sll•Bn-@n

April 12, 2022		
Alys Beach		
9581ECounty Road 30A		
Panama City Beach, FL. 32413		
criggsby@alysbeach.com		
RE: The supply wells for the irrigation system		
West Well:		
pC-66 Pressure Tank	$948.48	
Switch Kit	$68.00	
110 Volt Receptacle	$13.00	
Bell Box	$18.95	
Bubble Cover	$26.50	
Misc. Fittings & Materials	$65.00	
Labor to replace tank, switch		
and clean out the brine tank	$2$5.00	
Total	$1,434.93	

www.f me-,aldcoastculhgan.com
R£SIDfNltAL, COMMfRIC1\L, INDUSlRIAL WATER TREATMfNT PROllUCTS D	SERVIC:£5
CULLIGAN DCAI[R5Hll'S AHE INOEPENDCNTLY l)PfRATrD

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