PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT

PALM BEACH COUNTY REGULAR BOARD MEETING & PUBLIC HEARING
MAY 18, 2022
4:00 P.M.

Special District Services, Inc.
The Oaks Center 2501A Burns Road
Palm Beach Gardens, FL 33410

www.palmbeachplantationcdd.org 561.630.4922 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT
Palm Beach Plantation Clubhouse 8751 Palm Beach Plantation Boulevard Royal Palm Beach, Florida 33411
REGULAR BOARD MEETING & PUBLIC HEARING
May 18, 2022
4:00 p.m.

Call to Order
Proof of Publication…	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
March 16, 2022 Regular Board Meeting…	Page 3
Public Hearing
Proof of Publication…	Page 6
Receive Public Comments on Adopting a Fiscal Year 2022/2023 Final Budget
Consider Resolution No. 2022-02 – Adopting a Fiscal Year 2022/2023 Final Budget…	Page 7
Old Business
Discussion on Lake Level Issue…	Page 14
Discussion on Erosion Issues
New Business
Consider Resolution No. 2022-03 – Adopting a Fiscal Year 2022/2023 Meeting Schedule…	Page 18
Discussion on Dodd Frank Act Effecting Palm Beach Plantation CDD…	Page 20
Discussion on Starting Bond Refinance Process Early…	Page 23
Administrative Matters
Financial Update…	Page 24
Board Members Comments
Adjourn

Tl1e Pahn Beach Post
Im	hD 11 N	s I LOCALiQ

PROOF OF PUBLICATION
STATE OF FLORIDA

PUBLIC NOTICE
Before the undersigned authority, personally appeared Teal Pontarelli, who on oath, says that he/she is a Legal Advertising Representative of The Palm Beach Post, a daily and Sunday newspaper, pubflshed in West Palm Beach and distributed in Palm Beach County, Martin County, and St. Lucie County, Florida; that the attached copy of advertising for a Legal - PublicNotice
was published in said newspaper in issues dated: first date of Publication 10/07/2021 and last
date of Publication 10/07/2021. Affiant further says that the said The Palm Beach Post is a newspaper published in West Palm Beach, in sard Palm Beach County, Florida and that the said newspaper has heretofore been continuously published in said Palm Beach County, Florida, daily and Sunday and has been entered as second class mail matter at the post office in West Palm Beach, in said Palm Beach County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that he/she has neither paid nor promised any person, firm or corporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in said newspaper.
PALM BEACH PLANTATION COD
2501 BURNS RD STEA
PALM BEACH GARDENS, FL 33410-5207

Invoice/Order Number:	0000663129	
Ad Cost	$261.44	
Paid:	$0.00	
Balance Due:	$261.44	

(Legal Advertising Agent)

.......

w------

Sworn or affirmed to, and subscribed before me, this 20th day of October, 2021 Jn Testimony whereof, I have hereunto set my hand and affixed my official seal, the day and year aforesaid.

Signed

Please see Ad on following page(s).

PALM BEACH PLANTATION COD 2501 BURNS RD
STEA
PALM BEACH GARDENS, FL 33410-5207

Invoice/Order Number:
Ad Cost:
Paid: Balance Due:

0000663129
$261.44
$0.00
$261.44

PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
REGULAR MEETING SCHEDULE
NOTICE IS HEREBY  GIVEN that the
Board of Supervisors of the Palm Beach Plantation Community Development District will hold Regular Meetings for Fiscal Year 2021/2022 at 4:00 p.m. at the Palm Beach Plantation Clubhouse located at 87S1 Palm Beach Plantation Boulevard, Royal Palm Beach, Florida 33411, on:
October 20, 2021
November 17#2021
December 15, 2021
January 19, 2022
February 16, 2022
March 16, 2022
April 20, 2022
May 18, 2022
June 1 5, 2022
July 20, 2022
August 17, 2022
September 21, 2022
The purpose of the meetings is to con­ duct any business coming before the Board. Meetings are open to the public and vvill be conducted in accordance w-ith the provisions of Florida law. Cop­ ies of agendas for any of the meetings may  be  obtained  on  the  District's
website or by contacting the  District
Manager at (S61) 630-4922 and/or toll-­ free at 1-877-737-4922 prior to the date of the particular meeting.

From time to time one or more Super­ visors may participate by telephone; therefore a speaker telephone will be present at the meeting location so that Supervisors may be fully informed of the discussions taking place. Meetings may be continued as found necessary
to a time and place specified on the re­
cord.

If any person decides to appeal any de­ cision made vvith respect to any matter considered at these meetings, such per­ son will need a record of the proceed­ ings and such person may need to in­ sure that a verbatim record of the pro­ ceedings is made at his or her own ex­ pense and which record includes the testimony and evidence on which the appeal is based.
In accordance with the provisions of
the Americans with Disabilities Act* any person requiring special accommoda­ tions or an interpreter to participate at
any of these meetings should contact
the District Manager at (561) 630-4922 and/or toll free 1-877-737-4922 at least seven (7) days prior to the date of the particular·meeting.
Meetings may be cancelled from time to time without advertised notice.

PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT
www.palmbeachplantationcdd.org
10-7/2021
000663129-01

PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
MARCH 16, 2022

CALL TO ORDER

District Manager Michael McElligott called to order the Regular Board Meeting of the Palm Beach Plantation Community Development District on March 16, 2022, at 4:00
p.m. in the Palm Beach Plantation Clubhouse located at 8751 Palm Beach Plantation Boulevard, Royal Palm Beach, Florida 33411.

PROOF OF PUBLICATION

Mr. McElligott presented proof of publication that notice of the Regular Board Meeting had been published in The Palm Beach Post on October 7, 2022, as legally required.

ESTABLISH A QUORUM

Present and constituting a quorum were Russ Warnet, Richard Feltz, Richard Brackett, Rebecca Delgado and Bob Vey.

Staff in attendance were District Managers Michael McElligott of Special District Services, Inc. and District Counsel Michael Pawelczyk of Billing, Cochran, Lyles, Mauro & Ramsey, P.A.

ADDITIONS OR DELETIONS TO THE AGENDA

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

There were no comments from the public for items not on the agenda.

APPROVAL OF MINUTES
October 20, 2021, Regular Board Meeting

Mr. McElligott presented the minutes of the October 20, 2021, Regular Board Meeting and asked if there were any changes or corrections. Without comment, a motion was made by Mr. Brackett, seconded by Mr. Feltz that the minutes of the October 20, 2021, Regular Board Meeting be approved, as presented. That motion passed unanimously.

OLD BUSINESS

Discussion on Lake Level Issue

Mr. McElligott refreshed the Board on previous lake level discussions. Mr. Brackett brought in some documents and maps that were turned over from the developer. After a

PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
MARCH 16, 2022

long discussion on the issue of the lake levels being historically low, the Board made some recommendations. First, multiple Board members are going to take pictures of the lakes on the same day so as to compare and determine if this issue is isolated to one lake, or the whole system. Mr. McElligott will email the Board in early May to remind them to take the picture. Second, the Board requested that District Engineer Mathew Kahn attend the next meeting to review the documents Mr. Brackett brought in, the picture that will be taken, and talk about next steps needed to identify or correct the issue. Also, the Board plans to ask Mr. Kahn about getting more elevation sticks for the other lakes. Mr. McElligott said he would speak with Mr. Kahn and bring him up to speed on the Board request and make sure he is available for the next meeting which is expected to be in May.

Discussion on Lake Erosion Issue

Mr. Feltz informed the rest of the Board that it appears lake 8 is showing signs of erosion, especially at the SW corner. There was discussion amongst the Board and they decided that this should also be brough up to Mr. Kahn and discussed at the next meeting. Before the CDD did its first lake bank erosion project a few years ago, the District Engineer produced a report that listed the order of lakes they expected to need bank erosion projects on. Mr. McElligott will also ask Mr. Kahn to bring back that report to see if lake 8 was listed as one of the next lakes expected to need that work done. Mr. McElligott reminded the Board that they started putting reserves away several years ago for these lake projects, so depending on the severity, we should be able to do this next project in the near future.

NEW BUSINESS

Consider Resolution No. 2022-01 – Adopting a Fiscal Year 2022/2023 Proposed Budget

Mr. McElligott presented Resolution No. 2022-01.

RESOLUTION NO. 2022-01

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT APPROVING A PROPOSED BUDGET FOR FISCAL YEAR 2022/2023; AND PROVIDING AN EFFECTIVE DATE.

After Mr. McElligott presented there was some discussions regarding some of the specific line items by the Board. At the conclusion of the discussion it was determined

PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING
MARCH 16, 2022

that all line items were good. Mr. Brackett then asked if US Bank was subject to the Dodd Frank Act from 2010 and if there could be any negative effects on the CDD. Also, there was some discussion on if the CDD could refinance their Bonds now before potential rate increases due to current economic factors. Mr. McElligott said he would talk to the trustee about both those items and bring that information back to the Board at the next meeting.

A motion was then made by Mr. Feltz, seconded by Mrs. Delgado, passing Resolution 2022-01 – Adopting a Fiscal Year 2022/2023 Proposed Budget as presented and setting the Public Hearing for May 18, 2022 at 4:00 p.m. The motion passed unanimously.

ADMINISTRATIVE MATTERS

Financial Report

Mr. McElligott presented the Financial Report in the meeting book and opened it up for any questions. There was no action required.

Other Matters

Mr. McElligott reminded the Board that this is an election year. Mr. McElligott reminded the Board of the qualifying period in June.

BOARD MEMBER COMMENTS

There were no Board member comments.

ADJOURNMENT

There being no further business to come before the Board, a motion was made by Mr. Feltz, seconded by Mr. Brackett to adjourn the Regular Board Meeting at 5:03 p.m. That motion passed unanimously.

Secretary/Asst. Secretary	Chair/Vice Chair

RESOLUTION NO. 2022-02

A RESOLUTION OF THE PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT ADOPTING A FISCAL YEAR 2022/2023 BUDGET.

WHEREAS, the Palm Beach Plantation Community Development District (“District”) has prepared a Proposed Budget and Final Special Assessment Roll for Fiscal Year 2022/2023 and has held a duly advertised Public Hearing to receive public comments on the Proposed Budget and Final Special Assessment Roll; and,

WHEREAS, following the Public Hearing and the adoption of the Proposed Budget and Final Assessment Roll, the District is now authorized to levy non ad-valorem assessments upon the properties within the District.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT THAT:

Section 1.	The Final Budget and Final Special Assessment Roll for Fiscal Year 2022/2023 attached hereto as Exhibit “A” is approved and adopted, and the assessments set forth therein shall be levied.

Section 2.	The Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution.

PASSED, ADOPTED and EFFECTIVE this 18th day of May, 2022.

ATTEST:	PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

Palm Beach Plantation Community Development District

Final Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
O & M A e  e t 	120,61 	
 e t A e  e t 	 1,6 	
Other Reve ue 	0	
 tere t   e	2 0	
		
TOTAL REVENUES	$	602,553	
		
   u t F r  r    e t 	 2 ,0 	
		
TOTAL NET REVENUES	$	578, 60	
		
EXPENDITURES		
Superv  r Fee 	 ,000	
  r  T e 	6 0	
M  te  e C t  e 	 ,500	
   eer    pe t 	10,000	
M  e e t	 5, 6 	
Se ret r 	 ,200	
 e 	 ,500	
A e  e t R 	 ,000	
Aud t Fee 	 ,600	
Ar tr e C  u t  Rep rt Fee	650	
  ur  e	6,000	
 e  Advert e e t 	1, 00	
M  e  e u 	 5	
  t  e	 00	
Off e Supp e 	6 5	
 ue & Su  r pt 	1 5	
Tru tee Fee	 ,100	
We  te M  e e t	1,250	
Re erve C t  e 	11, 00	
C u t Appr  er & T  C  e t r Fee	 ,500	
		
TOTAL EXPENDITURES	$	116,029	
		
REVENUES LESS EXPENDITURES	$	 62, 31	
		
B d   e t 	 62, 1 	
		
EXCESS/ SHORTFALL 	$	 0 	

N te 
Fu d B   e A Of	0-21: $152,500
 t  ted Fu d B   e A Of	0-22: $160,000

DETAILED FINAL BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021
ACTUAL	
FISCAL YEAR 2021/2022
BUDGET	
FISCAL YEAR 2022/2023
BUDGET	

COMMENTS	
O & M A e  e t 	12 , 6 	12 , 	120,61 	 pe d ture  e  tere t . 6	
 e t A e  e t 	 0, 	  , 	 1,6 	B d   e t . 6	
Other Reve ue 	0	0	0		
 tere t   e	   	2 0	2 0	 r e ted At $20 er M th	
					
TOTAL REVENUES	$	605,200	$	602,987	$	602,553		
					
   u t F r  r    e t 	 22, 1 	 2 ,110 	 2 ,0 	F ur er e t Of T t  A e  e t R 	
					
TOTAL NET REVENUES	$	582, 83	$	578,877	$	578, 60		
					
EXPENDITURES					
Superv r Fee 	2,000	 ,000	 ,000	N Ch  e Fr  2021 2022 Bud et	
  r  T e 	156	6 0	6 0	 r e ted At  er e t Of Superv r Fee 	
M  te  e C t  e 	0	 ,500	 ,500	N Ch  e Fr  2021 2022 Bud et	
   eer   pe t 	 5	10,000	10,000	N Ch  e Fr  2021 2022 Bud et	
M  e e t	 , 0	 , 20	 5, 6 	C  Ad u t e t C pped At 	
Se ret r 	 ,200	 ,200	 ,200	N Ch  e Fr  2021 2022 Bud et	
 e 	5, 0 	 ,500	 ,500	N Ch  e Fr  2021 2022 Bud et	
A e  e t R 	 ,000	 ,000	 ,000	N Ch  e Fr  2021 2022 Bud et	
Aud t Fee 	 , 00	 ,500	 ,600	A epted A u t F r 2021 2022 Aud t	
Ar tr e C  u t  Rep rt Fee	650	650	650	N Ch  e Fr  2021 2022 Bud et	
  ur  e	5, 	6,000	6,000	  ur  e  t  te	
 e  Advert e e t 	 1	1, 00	1, 00	N Ch  e Fr  2021 2022 Bud et	
M  e  e u 	205	 25	 5	$50 e re e Fr  2021 2022 Bud et	
  t e	6 	 25	 00	$25 e re e Fr  2021 2022 Bud et	
Off e Supp e 	151	 25	6 5	$50 e re e Fr  2021 2022 Bud et	
 ue & Su  r pt 	1 5	1 5	1 5	N Ch  e Fr  2021 2022 Bud et	
Tru tee Fee	 ,0 0	 ,100	 ,100	N Ch  e Fr  2021 2022 Bud et	
We te M  e e t	1,250	1,250	1,250	N Ch  e Fr  2021 2022 Bud et	
Re erve C t  e 	0	15, 	11, 00	Re erve C t  e 	
C u t Appr er & T C e t r Fee	 ,000	 ,500	 ,500	C u t Appr  er & T  C  e t r Fee	
					
TOTAL EXPENDITURES	$	71,18 	$	119,158	$	116,029		
					
REVENUES LESS EXPENDITURES	$	511,299	$	 59,719	$	 62, 31		
					
B d   e t 	 61, 6 	 5 , 1 	 62, 1 	202  &   e t  e   r ed tere t	
					
EXCESS/ SHORTFALL 	$	 9,935	$	-	$	 0 		

N te 
Fu d B   e A Of	0-21: $152,500
 t  ted Fu d B   e A Of	0-22: $160,000

DETAILED FINAL DEBT SERVICE FUND BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

 tere t    e	
21	
25	
25	
 tere t F r F 2022 202 	

NA T  C  e t 	
 61, 6 	
 5 , 1 	
 62, 06	

202  &   e t  e  r ed tere t	

Total Revenues	
$	 61,385	
$	 59,7 	
$	 62, 31		

EXPENDITURES					

 r  p    e t 	
2 5,000	
 05,000	
 20,000	
 r  p    e t ue  202 	

 tere t   e t 	
1 2, 5	
15 , 	
1 2, 1	
 tere t   e t  ue  202 	

Total Expenditures	
$	 67,375	
$	 59,7 	
$	 62, 31		

Excess/ Shortfall 	
$	 5,990 	
$	-	
$	-		

Series 201 Bond Refunding Information
Or    r A u t =	$5, 0,000	A u  r  p    e t  ue =	M  1 t	
 tere t R te =	 .  0 	A u  tere t   e t  ue =	M  1 t & N ve er 1 t	
  ue  te =	M r h 201 			
M tur t  te =

 r A u t A Of 1-1-22 =	M  202 

$ ,0 0,000			

 r  p  A u t ue  M  202 : $1,665,000

Palm Beach Plantation Community Development District Assessment Comparison

Or 
 r e ted
	A e  e t*		F  e r 201 2020
	A e  e t*		F  e r 2020 2021
	A e  e t*		F  e r 2021 2022
	A e  e t*		Fiscal Year 2022/2023
	Projected Assessment*		

O & M F r  t S e 5	
$	
12 .11	
$	
21 .25	
$	
206. 6	
$	
206. 6	
$	
201 03	
 e t F r  t S e 5	$	 6.60	$	 5 . 	$	 6 .65	$	 60. 	$	765 3	
Total	$	1,010 71	$	971 03	$	970 11	$	967 0	$	966 6	
O & M F r  t S e 65 0	$	12 .11	$	21 .25	$	206. 6	$	206. 6	$	201 03	
 e t F r  t S e 65 0	$	  . 	$	 1.65	$	 .1 	$	 5.15	$	850 1 	
Total	$	1,111 9	$	1,05 90	$	1,05 63	$	1,051 61	$	1,051 17	

* A e  e t   ude the F  w  :	
     u t f r  r    e t 1 C u t T C e t r Fee
1 C u t  r pert Appr  er Fee

C  u  t  f r  t  :	

 5 F t  t 	 26	
65 0 F t  t 	2 	
T t  U t 	600	

 5 F t  t  f r  t	

T t  U t 	 26	
 rep  e t 	1	
B ed F r e t	 25	

5 2022 5:16 M	 

Page 14

Page 15

Page 16

Page 17

RESOLUTION NO. 2022-03

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2022/2023 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, it is necessary for the Palm Beach Plantation Community Development District ("District") to establish a regular meeting schedule for fiscal year 2022/2023; and

WHEREAS, the Board of Supervisors of the District has set a regular meeting schedule, location and time for District meetings for fiscal year 2022/2023 which is attached hereto and made a part hereof as Exhibit “A”.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:

Section 1.   The above recitals are hereby adopted.

Section 2.  The regular meeting schedule, time and location for meetings for fiscal year 2022/2023 which is attached hereto as Exhibit “A” is hereby adopted and authorized to be published.

PASSED, ADOPTED and EFFECTIVE this 18th day of May, 2022.

ATTEST:	PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023 REGULAR MEETING SCHEDULE
NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Palm Beach Plantation Community Development District will hold Regular Meetings for Fiscal Year 2022/2023 at 4:00
p.m. at the Palm Beach Plantation Clubhouse located at 8751 Palm Beach Plantation Boulevard, Royal Palm Beach, Florida 33411, on:

October 19, 2022
November 16, 2022
December 21, 2022
January 18, 2023
February 15, 2023
March 15, 2023
April 19, 2023
May 17, 2023
June 21, 2023
July 19, 2023
August 16, 2023
September 20, 2023

The purpose of the meetings is to conduct any business coming before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law. Copies of agendas for any of the meetings may be obtained on the District’s website or by contacting the District Manager at (561) 630-4922 and/or toll-free at 1-877-737-4922 prior to the date of the particular meeting.

From time to time one or more Supervisors may participate by telephone; therefore a speaker telephone will be present at the meeting location so that Supervisors may be fully informed of the discussions taking place. Meetings may be continued as found necessary to a time and place specified on the record.

If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to insure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.

In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meetings should contact the District Manager at (561) 630-4922 and/or toll free 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.

Meetings may be cancelled from time to time without advertised notice.

PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT

www.palmbeachplantationcdd.org PUBLISH: PALM BEACH POST	00/00/22

From: Hedgecock, Robert E <Robert.Hedgecock@usbank.com>
Sent: Monday, March 21, 2022 6:48 AM
To: Michael McElligott <MMcElligott@sdsinc.org>; Jeff Walker <JWalker@sdsinc.org>
Cc: Sawyer, Brett C <brett.sawyer@usbank.com>
Subject: RE: Palm Beach Plantation ‐ Redemptions Hi Michael,
Thank you for letting us know.

To give him peace of mind, you can let him know that you reached out to the trustee and that US Bank can assure that there are no issues at hand and nothing from the Dodd Frank act from 2010 would cause any funds to be in jeopardy regarding an economic down turn.

Please let me know how the conversation goes and that if needs further reassurances. Robert
Robert Hedgecock
Assistant Vice President
p. 954.938.2471 | robert.hedgecock@usbank.com

US. Bank Global Corporate Trust
500 West Cypress Creek Road, Suite 460
Fort Lauderdale, Florida 33309 | www.usbank.com

For security reasons, U.S. Bank Global Corporate Trust requests that if customer confidential information is included in your email, please utilize the Cisco Registered Envelope Services (CRES) Secure Mail System when sending such information to U.S. Bank.

https://www.usbank.com/securemail

From: Michael McElligott <MMcElligott@sdsinc.org>
Sent: Friday, March 18, 2022 5:53 PM
To: Hedgecock, Robert E <Robert.Hedgecock@usbank.com>; Jeff Walker <JWalker@sdsinc.org>
Cc: Sawyer, Brett C <brett.sawyer@usbank.com>
Subject: [EXTERNAL] RE: Palm Beach Plantation ‐ Redemptions

 [WARNING] Use caution when opening attachments or links from unknown senders.	

Robert, a member of the Palm Beach Plantation CDD Board had a question about our trust accounts. At our last Board meeting he asked me to check with the Trustee to see if US Bank, and/or the CDD trust accounts specifically, are subject to the Dodd Frank Act passed in 2010. I am not very familiar with the details of the law, but he seemed to think it could put money held in banks in jeopardy should the economy take a major down turn. What little I thought I knew about the act I thought the act was mainly extra regulations to make sure large banks don’t fail and need bailouts like some did after 2008, but he asked me to ask you, so I am. Thanks.

BOARD MEMBERS: Please do not use the reply all feature of your e-mail as it may be deemed a violation of the Sunshine law. Please reply only to the management office. Thank You.
NOTE: Under Florida Law, e-mail addresses are public records. If you do not want your e-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing.
Michael McElligott
Special District Services, Inc. 2501 A Burns Road
Palm Beach Gardens, FL 33410

Phone: (561) 630‐4922 x 226
Fax:	(561) 630‐4923

From: Hedgecock, Robert E <Robert.Hedgecock@usbank.com>
Sent: Thursday, March 17, 2022 4:10 PM
To: Jeff Walker <JWalker@sdsinc.org>
Cc: Sawyer, Brett C <brett.sawyer@usbank.com>; Michael McElligott <MMcElligott@sdsinc.org>
Subject: RE: Palm Beach Plantation ‐ Redemptions Our pleasure Jeff!
Robert Hedgecock
Assistant Vice President
p. 954.938.2471 | robert.hedgecock@usbank.com

US. Bank Global Corporate Trust
500 West Cypress Creek Road, Suite 460
Fort Lauderdale, Florida 33309 | www.usbank.com

For security reasons, U.S. Bank Global Corporate Trust requests that if customer confidential information is included in your email, please utilize the Cisco Registered Envelope Services (CRES) Secure Mail System when sending such information to U.S. Bank.

https://www.usbank.com/securemail

From: Jeff Walker <JWalker@sdsinc.org>
Sent: Thursday, March 17, 2022 4:01 PM
To: Hedgecock, Robert E <Robert.Hedgecock@usbank.com>
Cc: Sawyer, Brett C <brett.sawyer@usbank.com>; Michael McElligott <MMcElligott@sdsinc.org>
Subject: [EXTERNAL] RE: Palm Beach Plantation ‐ Redemptions

 [WARNING] Use caution when opening attachments or links from unknown senders.	

Robert:

Thank you.

Jeff

From: Hedgecock, Robert E [mailto:Robert.Hedgecock@usbank.com]
Sent: Thursday, March 17, 2022 3:46 PM
To: Jeff Walker <JWalker@sdsinc.org>
Cc: Sawyer, Brett C <brett.sawyer@usbank.com>; Michael McElligott <MMcElligott@sdsinc.org>
Subject: RE: Palm Beach Plantation ‐ Redemptions Good afternoon Jeff,
Please see the 2014 bond attached.

Per the bottom of page 5, eligible to be selected for optional redemption any date ON or AFTER May 1, 2024.

Robert Hedgecock
Assistant Vice President
p. 954.938.2471 | robert.hedgecock@usbank.com

US. Bank Global Corporate Trust
500 West Cypress Creek Road, Suite 460
Fort Lauderdale, Florida 33309 | www.usbank.com

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From: Jeff Walker <JWalker@sdsinc.org>
Sent: Thursday, March 17, 2022 10:37 AM
To: Hedgecock, Robert E <Robert.Hedgecock@usbank.com>
Cc: Sawyer, Brett C <brett.sawyer@usbank.com>; Michael McElligott <MMcElligott@sdsinc.org>
Subject: [EXTERNAL] Palm Beach Plantation ‐ Redemptions

 [WARNING] Use caution when opening attachments or links from unknown senders.	

Robert:

Can you tell us when the Palm Beach Plantation CDD is eligible to make optional redemptions on the Series 2014 Refunding?
Thank you.
Jeff Walker
Special District Services

From: Jon Kessler <jkessler@FMSbonds.com>
Sent: Friday, March 18, 2022 11:39 AM
To: Michael McElligott <MMcElligott@sdsinc.org> Cc: Dylan Schwartz <dylanschwartz@fmsbonds.com> Subject: Re: Palm Beach Plantation CDD

Bonds are not callable. Nothing to do until 24.

On Mar 18, 2022, at 11:20 AM, Michael McElligott <MMcElligott@sdsinc.org> wrote:

Jon,
The Board of the Palm Beach Plantation CDD asked me to reach out to you about refinancing
their series 2014 Bond (closing docs attached) that you worked on with Raymond James. We are aware that there would be some kind of penalty to refinance prior to May of 2024, but the Board feels that based on current economic conditions, it may be worth the penalty to get todays rates rather than roll the dice and wait until 2024. Can you look into this and see if would make sense to try to do this refinance now instead of waiting until 2024? Thanks.

BOARD MEMBERS: Please do not use the reply all feature of your e-mail as it may be deemed a violation of the Sunshine law. Please reply only to the management office. Thank You.
NOTE: Under Florida Law, e-mail addresses are public records. If you do not want your e-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing.

Michael McElligott
Special District Services, Inc. 2501 A Burns Road
Palm Beach Gardens, FL 33410
Phone: (561) 630‐4922 x 226
Fax:	(561) 630‐4923

Palm Beach Plantation Community Development District
Budget vs. Actual
October 2021 through April 2022

Oct '21 - Apr 22	FY 21/22 Budget	$ Over Budget	% of Budget
 			
Ordinary Income/Expense Income
363.100 · O & M Assessments	121,501 11		120,614 00		887 11		100 74%	
363.810 · Debt Assessments	469,575 98		481,699 00		-12,123 02		97 48%	
363.820 · Debt Assessment-Paid To Trustee	-448,022 42		-462,431 00		14,408 58		96 88%	
363.831 · Discounts For Early Payments	-22,701 90		-24,093 00		1,391 10		94 23%	
369.401 · Interest Income	16 46		240 00		-223 54		6 86%	
Total Income	120,369 23		116,029 00		4,340 23		103 74%	
Expense								
511.122 · Payroll Expense	103 90		640 00		-536 10		16 23%	
511.131 · Supervisor Fee	1,400 00		8,000 00		-6,600 00		17 5%	
511.305 · Maintenance/Contingency	0 00		7,500 00		-7,500 00		0 0%	
511.310 · Engineering	472 50		10,000 00		-9,527 50		4 73%	
511.311 · Management Fees	20,370 00		35,964 00		-15,594 00		56 64%	
511.312 · Secretarial Fees	2,450 00		4,200 00		-1,750 00		58 33%	
511.315 · Legal Fees	3,492 00		8,500 00		-5,008 00		41 08%	
511.318 · Assessment/Tax Roll	0 00		3,000 00		-3,000 00		0 0%	
511.320 · Audit Fees	0 00		3,600 00		-3,600 00		0 0%	
511.330 · Arbitrage Calculation Rprt Fee	0 00		650 00		-650 00		0 0%	
511.450 · Insurance	5,992 00		6,000 00		-8 00		99 87%	
511.480 · Legal Advertisements	261 44		1,300 00		-1,038 56		20 11%	
511.512 · Miscellaneous	261 37		875 00		-613 63		29 87%	
511.513 · Postage and Delivery	32 83		300 00		-267 17		10 94%	
511.514 · Office Supplies	140 80		675 00		-534 20		20 86%	
511.515 · Website Management Fees	729 19		1,250 00		-520 81		58 34%	
511.540 · Dues, License & Subscriptions	175 00		175 00		0 00		100 0%	
511.732 · Reserve/Contingency	0 00		11,800 00		-11,800 00		0 0%	
511.733 · Trustee Fees	4,079 63		4,100 00		-20 37		99 5%	
511.735 · County Appraiser & Tax Coll Fee	6,953 75		7,500 00		-546 25		92 72%	
Total Expense	46,914 41		116,029 00		-69,114 59		40 43%	
 et Ordinary Income	73,454 82		0 00		73,454 82		100 0%	
	73,454.82		0.00		73,454.82		100.0%	

Bank Balance As Of 4/30/22	$	244,625 67	
Accounts Payable As Of 4/30/22	$	18,617 04	
Accounts Receivable As Of 4/30/22	$	-	
Total Fund Balance As Of 4/30/22	$	226,008 63