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12/14/2020 Agenda The Quarry Community Development District Board of Supervisors District Staff Stanley T.Omland,Chairman Bob Koncar,District Manager Lloyd Schliep,Vice Chairman Wes Haber,District Counsel Timothy B. Cantwell,Assistant Secretary Albert Lopez,District Engineer William G.Flister,Assistant Secretary VACANT,Assistant Secretary Meeting Agenda Monday December 14,2020 @ 1:00 pm The Quarry Beach Club 8975 Kayak Drive Naples, FL 1. Call to Order 2. Pledge of Allegiance 3. Administrative Matters A. Oath of Office B. Consideration of Resolution 2021-01, Designation of Officers 4. Approval of Agenda 5. Public Comments on Agenda Items 6. Engineer's Report A. Engineer's Written Report 7. District Manager's Report A. Approval of the November 16, 2020 Meeting Minutes B. Acceptance of the Financial Report, and Approval of the Check Register and Invoices of November C. Update on Action Items from Meeting Notes D. Status of Resident Complaints/Inquiry Report E. Variance Easement Report Update F. Update on Board Seat Vacancy 8. Attorney's Report A. Attorney's Written Report 9. Business Items A. Discussion of Refinancing of the CDD Bonds i. Consideration of Resolution 2021-02, Delegated Award Resolution—under separate cover ii. Consideration of Resolution 2021-03, Supplemental Assessment—under separate cover 10. Old Business Items A. Update of CD 101 Book B. FEMA Update C. Discussion on Weed Harvesting Information Memo for Residents Update 11.New Business Items 12. Supervisor Requests The Quarry CDD Meeting Agenda December 14, 2020 Page 2 A. Reports i. Chairman's Report: Mr. Omland ii. Lake & Preserve: Mr. Flister iii. Pond Survey: Mr. Cantwell iv. Liaison: o QCA o HBCDD—Mr. Flister o HBUA-Mr. Cantwell 13.Audience Comments 14. Adjournment Next meeting: Monday January 18, 2021 If you require a meeting package please access it via the Dropbox: Login: quarryCDDAgmail.com Pswd: Collier2004 Meeting Location: The Quarry Beach 8975 Kayak Drive Naples,FL ,4. 4. plk 41b. Atipit, III PART OF THE USA TODAY NETWORK Published Daily Naples, FL 34110 QUARRY CDD % INFRAM ARK 210 N UNIVERSITY DR CORAL SPRINGS, FL 33071-7394 Affidavit of Publication STATE OF WISCONSIN COUNTY OF BROWN Before the undersigned they serve as the authority, personally appeared said legal clerk who on oath says that he/she serves as Legal Clerk of the Naples Daily News, a daily newspaper published at Naples, in Collier County, Florida; distributed in Collier and Lee counties of Florida; that the attached copy of the advertising was published in said newspaper on dates listed. Affiant further says that the said Naples Daily News is a newspaper published at Naples, in said Collier County, Florida, and that the said newspaper has heretofore been continuously published in said Collier County, Florida; distributed in Collier and Lee counties of Florida, each day and has been entered as second class mail matter at the post office in Naples, in said Collier 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 has neither paid nor promised any person, or corporation any discount, rebate, commission or refund for the purpose of securing this advertisement for publication in the said newspaper. Published:09/15/2020 �- Subscribed and sworn to before on September 15,2020: Notary,State of WI,County of Brown rAFiA. MONDLOCH Notary Public.: ;state of Wisconsin My commission expires August 6,2021 Publication Cost:$343.00 Ad No:0004356332 Customer No: 1307330 PO#: FY2021 Meetings #of Affidavits1 1 This is not an invoice NOTICE OF MEETINGS THE QUARRY COMMUNITY DEVELOPMENT DISTRICT The Board of Supervisors of The Quarry Community Devel- opment District will hold their meetings for Fiscal Year 2021 on the third Monday of every month at 1:00 p.m. *at The Quarry Beach Club located at 8975 Kayak Drive, Naples, Florida 34120, on the follow- ing dates: October 19,2020 November 16,2020 December 14.2020 January 18,2021 February 15,2021 March 15,2021 April 19,2021 May 17, 2021 — Tentative Budget Presentation June 21,2021 July 19,2021 August 16,2021 September 20,2021 *Please note that due to the ongoing nature of the COV1D- 19 public health emergency, it may be necessary to hold the above referenced meetings utilizing communications me- dia technology in order to protect the health and safety of the public or held at an al- ternative physical location other than the location indi- cated above. To that end, anyone wishing to participate in such meetings should con- tact the District Manager's Of- fice prior to each meeting to confirm the applicable meet- ing access and/or location in- formation. Additionally, in- terested parties may refer to the District's website for the latest information:https://ww w.quarrycdd.org/. There may be occasions when one or more Supervisors may participate via telephone. Any interested person can at- tend the meeting at the above location and be fully in- formed of the discussions tak- ing place. Meetings may be continued to a date, time and location to be specified on the record at the meetings with- out additional publication of notice. Any person requiring special accommodations at these meetings because of a disabil- ity or physical impairment should contact the District Of- fice at (954) 603-0033 at least 48 hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service at 7-1-1, or 800-955-8771 (TTY)/800- 955-8770 (Voice), for aid in contacting the District Office. Each person who decides to appeal any action taken by the Board at these meetings is advised that person will need a record of the proceedings • and accordingly, the person may need to ensure a verba- tim record of the proceedings is made, including the testi- mony and evidence upon which such appeal is to be based. Bob Koncar Manager September 15,2020#4356332 Agenda Page 6 RESOLUTION 2021-01 A RESOLUTION DESIGNATING OFFICERS OF THE QUARRY COMMUNITY DEVELOPMENT DISTRICT WHEREAS, the Board of Supervisors of The Quarry Community Development District at a regular business meeting held on December 14, 2020 desires to appoint the below recited persons to the offices specified. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE QUARRY COMMUNITY DEVELOPMENT DISTRICT: 1. The following persons were appointed to the offices shown,to wit: Chairman Vice Chairman Bob Koncar/Justin Faircloth Secretary Alan Baldwin Treasurer Stephen Bloom Assistant Treasurer Assistant Secretary Assistant Secretary Assistant Secretary PASSED AND ADOPTED THIS 14th DAY OF DECEMBER 2020. Chairman Secretary Ag: O hi? 2216 Altamont Avenue Fort Myers,Florida 33901 Phone:239.332.5499 Fax:239.332.2955 zazvw cphcorp.corn The Quarry CDD — Engineers Report December 2020 Variances approvals • Non submitted for review Home Owners Issues • None reported Pending contracts/Proposals • Survey markers to delineate lake maintenance limits between TQCDD and HBCDD. Pending HBCDD approval. Current Projects • N/A Agenda Page 20 Quarry Community Development District Financial Report November 30, 2020 INFRAMARK THE QUARRY Agenda Page 21 Community Development District Table of Contents FINANCIAL STATEMENTS Balance Sheet-All Funds Page 1 Statement of Revenues, Expenditures and Changes in Fund Balance General Fund Pages 2-3 Debt Service Fund(s) Pages 4-6 Capital Projects Fund Page 7 Trend Report-General Fund Pages 8-9 Notes to the Financial Statements Page 10 SUPPORTING SCHEDULES Special Assessments-Collection Schedule Page 11 Cash and Investment Report Page 12 Bank Reconciliation Page 13 QCA Lawsuit Page 14 Payment Register by Bank Account Page 15 Agenda Page 22 Quarry Community Development District Financial Statements (Unaudited) November 30, 2020 QUARRY Agenda Page 23 Community Development District Governmental Funds Balance Sheet November 30, 2020 201 -SERIES 202-SERIES 203-SERIES 301 -SERIES 2015 DEBT 2018 DEBT 2019 DEBT 2018 CAPITAL GENERAL SERVICE SERVICE SERVICE PROJECTS ACCOUNT DESCRIPTION FUND FUND FUND FUND FUND TOTAL ASSETS Cash-Checking Account $ 1,259,501 $ - $ - $ - $ - $ 1,259,501 Due From Other Gov't'Units 214 - - - - 214 Due From Other Funds - 601,412 156,302 173,647 - 931,361 Investments: Money Market Account 96,205 - - - - 96,205 Acquisition Fund - - - - 51 51 Interest Account - - 50,451 - - 50,451 Principal - - 188,740 - - 188,740 Redemption Fund - - - 685 - 685 Reserve Fund - 464,205 90,126 - - 554,331 Revenue Fund - 145,884 5,828 14,170 - 165,882 TOTAL ASSETS $ 1,355,920 $ 1,211,501 $ 491,447 $ 188,502 $ 51 $ 3,247,421 LIABILITIES Accounts Payable $ 12,812 $ - $ - $ - $ - $ 12,812 Accrued Expenses 5,417 - - - - 5,417 Due To Other Funds 931,361 - - - - 931,361 TOTAL LIABILITIES 949,590 - - - - 949,590 FUND BALANCES Restricted for: Debt Service - 1,211,501 491,447 188,502 - 1,891,450 Capital Projects - - - - 51 51 Unassigned: 406,330 - - - - 406,330 TOTAL FUND BALANCES $ 406,330 $ 1,211,501 $ 491,447 $ 188,502 $ 51 $ 2,297,831 TOTAL LIABILITIES&FUND BALANCES $ 1,355,920 $ 1,211,501 $ 491,447 $ 188,502 $ 51 $ 3,247,421 Page 1 QUARRY Agenda Page 24 Community Development District General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending November 30, 2020 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE AS A%OF NOV-20 ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL REVENUES Interest-Investments $ 400 $ 57 14.25% $ 24 Golf Course Revenue 18,000 - 0.00% - Special Assmnts-Tax Collector 579,497 302,107 52.13% 298,880 Special Assmnts-Discounts (23,180) (12,125) 52.31% (11,955) Other Miscellaneous Revenues 40,000 1,000 2.50% - TOTAL REVENUES 614,717 291,039 47.35% 286,949 EXPENDITURES Administration P/R-Board of Supervisors 12,000 1,800 15.00% 200 FICA Taxes 918 138 15.03% 15 ProfServ-Arbitrage Rebate 600 - 0.00% - ProfServ-Engineering 45,000 6,601 14.67% 6,601 ProfServ-Legal Services 30,000 455 1.52% 455 ProfServ-Legal Litigation 25,000 - 0.00% - ProfServ-Mgmt Consulting Sery 57,000 9,500 16.67% 4,809 ProfServ-Other Legal Charges - 814 0.00% - ProfServ-Property Appraiser 8,000 14,453 180.66% - ProfServ-Trustee Fees 9,000 7,189 79.88% 5,026 ProfServ-Consultants 20,000 - 0.00% - Auditing Services 4,900 - 0.00% - Contract-Website Hosting 1,550 - 0.00% - Website Compliance 1,515 388 25.61% - Postage and Freight 750 11 1.47% 7 Insurance-General Liability 6,655 6,064 91.12% - Printing and Binding 750 62 8.27% 14 Legal Advertising 4,000 - 0.00% - Miscellaneous Services 2,000 - 0.00% - Misc-Bank Charges 50 172 344.00% 91 Misc-Special Projects 20,000 - 0.00% - Misc-Assessmnt Collection Cost 11,590 5,800 50.04% 5,738 Misc-Contingency 1,000 - 0.00% - Office Supplies 800 - 0.00% - Annual District Filing Fee 175 175 100.00% 175 Total Administration 263,253 53,622 20.37% 23,131 Page 2 QUARRY Agenda Page 25 Community Development District General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending November 30, 2020 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE AS A%OF NOV-20 ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL Field Lake&Preserve Maintenance 140,000 10,834 7.74% 5,417 Miscellaneous Maintenance 111,464 - 0.00% - Capital Projects 50,000 - 0.00% - Total Field 301,464 10,834 3.59% 5,417 Reserves Reserve-Other 50,000 - 0.00% - Total Reserves 50,000 - 0.00% - TOTAL EXPENDITURES&RESERVES 614,717 64,456 10.49% 28,548 Excess(deficiency)of revenues Over(under)expenditures - 226,583 0.00% 258,401 Net change in fund balance $ - $ 226,583 0.00% $ 258,401 FUND BALANCE,BEGINNING(OCT 1,2020) 179,747 179,747 FUND BALANCE,ENDING $ 179,747 $ 406,330 Page 3 QUARRY Agenda Page 26 Community Development District 201 -Series 2015 Debt Service Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending November 30, 2020 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE AS A%OF NOV-20 ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL REVENUES Interest-Investments $ 100 $ 9 9.00% $ 4 Special Assmnts-Tax Collector 1,239,461 646,159 52.13% 639,256 Special Assmnts-Discounts (49,578) (25,933) 52.31% (25,570) TOTAL REVENUES 1,189,983 620,235 52.12% 613,690 EXPENDITURES Administration Misc-Assessmnt Collection Cost 24,789 12,405 50.04% 12,274 Total Administration 24,789 12,405 50.04% 12,274 Debt Service Principal Debt Retirement 615,000 - 0.00% - Interest Expense 538,104 271,264 50.41% - TotalDebtService 1,153,104 271,264 23.52% - TOTAL EXPENDITURES 1,177,893 283,669 24.08% 12,274 Excess(deficiency)of revenues Over(under)expenditures 12,090 336,566 n/a 601,416 OTHER FINANCING SOURCES(USES) Contribution to(Use of)Fund Balance 12,090 - 0.00% - TOTAL FINANCING SOURCES(USES) 12,090 - 0.00% - Net change in fund balance $ 12,090 $ 336,566 n/a $ 601,416 FUND BALANCE,BEGINNING(OCT 1,2020) 874,935 874,935 FUND BALANCE,ENDING $ 887,025 $ 1,211,501 Page 4 QUARRY Agenda Page 27 Community Development District 202-Series 2018 Debt Service Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending November 30, 2020 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE AS A%OF NOV-20 ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL REVENUES Interest-Investments $ 100 $ 5 5.00% $ 3 Special Assmnts-Tax Collector 322,125 167,931 52.13% 166,137 Special Assmnts-Discounts (12,885) (6,740) 52.31% (6,645) TOTAL REVENUES 309,340 161,196 52.11% 159,495 EXPENDITURES Administration Misc-Assessmnt Collection Cost 6,443 _ 3,224 50.04% 3,190 Total Administration 6,443 3,224 50.04% 3,190 Debt Service Principal Debt Retirement 188,740 - 0.00% - Interest Expense 98,024 50,451 51.47% - Total Debt Service 286,764 50,451 17.59% - TOTAL EXPENDITURES 293,207 53,675 18.31% 3,190 Excess(deficiency)of revenues Over(under)expenditures 16,133 107,521 n/a 156,305 OTHER FINANCING SOURCES(USES) Contribution to(Use of)Fund Balance 16,133 - 0.00% - TOTAL FINANCING SOURCES(USES) 16,133 - 0.00% - Net change in fund balance $ 16,133 $ 107,521 n/a $ 156,305 FUND BALANCE,BEGINNING(OCT 1,2020) 383,926 383,926 FUND BALANCE,ENDING $ 400,059 $ 491,447 Page 5 QUARRY Agenda Page 28 Community Development District 203-Series 2019 Debt Service Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending November 30, 2020 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE AS A%OF NOV-20 ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL REVENUES Interest-Investments $ 100 $ 14 14.00% $ 4 Special Assmnts-Tax Collector 357,873 186,567 52.13% 184,574 Special Assmnts-Discounts (14,315) (7,488) 52.31% (7,383) TOTAL REVENUES 343,658 179,093 52.11% 177,195 EXPENDITURES Administration Misc-Assessmnt Collection Cost 7,157 3,582 50.05% 3,544 Total Administration 7,157 3,582 50.05% 3,544 Debt Service Principal Debt Retirement 215,686 - 0.00% - Principal Prepayments 850,000 850,000 100.00% 850,000 Interest Expense 136,065 78,392 57.61% 78,392 Total Debt Service 1,201,751 928,392 77.25% 928,392 TOTAL EXPENDITURES 1,208,908 931,974 77.09% 931,936 Excess(deficiency)of revenues Over(under)expenditures (865,250) (752,881) 87.01% (754,741) OTHER FINANCING SOURCES(USES) Interfund Transfer-In - 1 0.00% 1 Contribution to(Use of)Fund Balance (865,250) - 0.00% - TOTAL FINANCING SOURCES(USES) (865,250) 1 0.00% 1 Net change in fund balance $ (865,250) $ (752,880) 87.01% $ (754,740) FUND BALANCE,BEGINNING(OCT 1,2020) 941,382 941,382 FUND BALANCE,ENDING $ 76,132 $ 188,502 Page 6 QUARRY Agenda Page 29 Community Development District 301-Series 2018 Capital Projects Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending November 30, 2020 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE AS A%OF NOV-20 ACCOUNT DESCRIPTION BUDGET ACTUAL ADOPTED BUD ACTUAL REVENUES Interest-Investments $ - $ - 0.00% $ TOTAL REVENUES - - 0.00% - EXPENDITURES TOTAL EXPENDITURES - - 0.00% - Excess(deficiency)of revenues Over(under)expenditures - - 0.00% - Net change in fund balance $ - $ - 0.00% $ - FUND BALANCE,BEGINNING(OCT 1,2020) - 51 FUND BALANCE,ENDING $ - $ 51 Page 7 a — .3 e , , , e e , ee e e e c S, ocmo 0 g0 & om � cnoo ,- o o Lno o e 0) O� CO O N CO O O O O, 00 0 c0 cv 0 rn o CO O O CO CO !jilii 0 • csi CO ama CD c r g 2 O O GO O O O Q th O O O N Q N 00 O Q CO o t0 .0 m . 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H9 CO M LIB') CO C 0 U') U) Q CO 49 69 64 U N Co O E 6 co Co C Z a) m y a▪.) > L 'm E e U n m CO Y Q U CO 0) O J C Cr) Q w O CO O CO 0 0 Co C Oa, E Ncci < Co ,_ CD m 4? • O cu co T co co f0 O OL O) LOJE re 0 CO Q O O) O' O).0 0- ddT H w YNW Q N Co C CocNN w CO • - GO YC LL CD NL = Ea Co J VWCC OJ on O OOOy Q a_ a d O c a c W v I . = E > a w 0 Agenda Page 33 Quarry Community Development District Supporting Schedules November 30, 2020 QUARRY Agenda Page 34 Community Development District All Funds Non-Ad Valorem Special Assessments-Collier County Tax Collector (Monthly Collection Distributions) For the Fiscal Year Ending September 30, 2021 ALLOCATION BY FUND Discount/ Gross Series 2015 Series 2018 Series 2019 Date Net Amount (Penalties) Collection Amount General Debt Service Debt Service Debt Service Received Received Amount Cost Received Fund Fund Fund Fund Assessments Levied FY 2020 $ 2,498,960 $ 579,501 $ 1,239,461 $ 322,125 $ 357,873 Allocation% 100.00% 23.19% 49.60% 12.89% 14.32% Real Estate-Installment 10/29/20 $ 12,923 $ 731 $ 264 $ 13,918 3,227 6,903 1,794 1,993 Real Estate-Current 11/16/20 22,268 947 454 23,669 5,489 11,740 3,051 3,390 11/20/20 567,893 24,145 11,590 603,628 139,979 299,394 77,810 86,445 11/27/20 622,386 26,462 12,702 661,549 153,411 328,122 85,276 94,740 TOTAL $1,225,470 $ 52,285 $ 25,010 $ 1,302,764 $ 302,107 $ 646,159 $ 167,931 $ 186,567 %COLLECTED 52.13% 52.13% 52.13% 52.13% 52.13% TOTAL OUTSTANDING $ 1,196,196 $ 277,394 $ 593,302 $ 154,194 $ 171,306 Report Date: 12/2/2020 Page 11 QUARRY Agenda Page 35 Community Development District Cash &Investment Report November 30, 2020 ACCOUNT NAME BANK NAME YIELD BALANCE OPERATING FUND Operating-Checking Account Hancock Whitney 0.00% $ 1,259,501 Subtotal 1,259,501 Public Funds MMA Variance Account BankUnited 0.30% 96,205 Subtotal 96,205 DEBT SERVICE AND CAPITAL PROJECT FUNDS Series 2015 Reserve Acct U.S. Bank 0.01% 464,205 Series 2015 Revenue Fund U.S.Bank 0.01% 145,884 Series 2018 Interest Acct U.S.Bank 0.01% 50,451 Series 2018 Principal Acct U.S. Bank 0.01% 188,740 Series 2018 Reserve Acct U.S. Bank 0.01% 90,126 Series 2018 Revenue Acct U.S.Bank 0.01% 5,828 Series 2019 Bond Redemption Fund Hancock Whitney 0.01% 685 Series 2019 Revenue Fund Hancock Whitney 0.01% 14,170 Series 2018 Acquisition&Construction Acct U.S.Bank 0.01% 51 Subtotal 960,140 Total $ 2,315,847 Report Date: 12/2/2020 Page 12 Quarry CDD Agenda Page 36 Bank Reconciliation Bank Account No. 3489 Hancock&Whitney Bank General Fund Statement No. 11-20 Statement Date 11/30/2020 G/L Balance(LCY) 1,259,501.47 Statement Balance 1,274,499.26 G/L Balance 1,259,501.47 Outstanding Deposits 0.00 Positive Adjustments 0.00 Subtotal 1,274,499.26 Subtotal 1,259,501.47 Outstanding Checks 14,997.79 Negative Adjustments 0.00 Differences 0.00 Ending G/L Balance 1,259,501.47 Ending Balance 1,259,501.47 Difference 0.00 Posting Document Document Cleared Date Type No. Description Amount Amount Difference Outstanding Checks 11/19/2020 Payment 8176 DEPT OF ECONOMIC OPPORTUNITY 175.00 0.00 175.00 11/19/2020 Payment 8182 COLLIER COUNTY PROPERTY APPRAISER 14,453.39 0.00 14,453.39 11/19/2020 Payment 8184 LLOYD SCHLIEP 184.70 0.00 184.70 11/19/2020 Payment 8185 STANLEY 9.OMLAND 184.70 0.00 184.70 Total Outstanding Checks 14,997.79 14,997.79 Page 13 QUARRY Agenda Page 37 Community Development District QCA Lawsuit November 30, 2020 Date Vendor Inv# Check# Amount Description 2/29/2020 HGS 113982 8081 $ 728.00 2.8 Wes Haber hours 6/30/2020 HGS 116536 8140 156.00 0.6 Wes Haber hours 8/31/2020 HGS 117756 8165 234.00 0.9 Wes Haber hours 9/30/2020 HGS 118420 8187 78.00 0.3 Wes Haber hours Total $ 1,196.00 4.6 Hopping Green Sams 9/4/2020 GFP 113081 8146 700.00 2.5 Michael Traficante hours 10/8/2020 GFP 113350 8161 814.00 2.2 Michael Traficante hours 11/6/2020 GFP 113573 8177 455.00 1.3 Michael Traficante hours Total $ 1,969.00 6.0 Grant, Fridkin, Pearson Grand Total $ 3,165.00 10.6 Report Date: 12/4/2020 Page 14 CO OA CV S S a < a 0 0 0 a o A- a 0 r; o 0 0 al 3 a N CV M N CO 0 r 0 O O o O N .0 m Ea � `, - ea � ,0 c5 o v CO ¢ cc M 0) _ m 0 h-ra CL o 0 0 CD <CD J 0 0 0 0 O O p Q 8 S 0 0 0 0 0 S A- A- A- 0 0 O N n � s. cza c ac8 oo rn ZLL u $7 o •jO O O 17 W W d W O ,' L E a E N ,, ¢ atl N2 NO O NN u) n co coco LL WWCOv)O O N O C O O N N N "2 "20_ 0_ J d Q a IL 0 0 0 d LL co N� > �F/� ,.0 Y/ ▪ W 11 o U CC 0 LL 0 a W I— y Y U N 0 Q W o a Zc vi a p1 O� x >19 O o W 7 N E co CW.0 « C E > W O ai N N N • C' C' C G O O O 9 d LL c2 0 w N N N Z O O G N LL d d a .) o . 45a � 22 aUUi- 9I- 1UU � ZoZ co o 6. a 0 Y Z z W a a a o '- p o 0 0 0 w a w a W m N ¢ 2 = W C. 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Justin Investigate the issue of responsibility for weed harvesting in Boulder Lake (HBUA,QCA,Umbrella Association,etc) HBCDD has worked with their vendor to treat the passageway between Formally request Heritage Bay to advise Chairman the markers the District has committed to keeping clear.They have tried 4 on the navigation issues between lakes X to bring their machine in a few times to trim the pondweed,however, 30A and 30B and what steps they will Justin due to the cold front it has been too windy to collect the debris and do take to address this issue the cutting currently.When the cold front passes and the wind dies back Reminder to the QCA on Thursday prior to the Monday meeting to get the PA Alison has been in contact Cheryl 011ila after the last meeting regarding system setup and the room set up the meeting space not being prepared.Billie emailed Alison to indicate 5 X the room will be prepared ontime for all meetings going forward, however Alison will send an email reminder on December 10,2020 regarding setting up the meeting space with the PA for this meeting 6 Get better technology for call in of Bob X We will have a temporary solutions at the December meeting.However Board members and/or personnel Justin a better,long terms solution needs to involve the QCA. Develop a financial report on QCA 7 lawsuit and expenses by the District Bob and send to the Board in the onthly Inframark Financial Team financial Report B Move item 8B resident inquiry to Alison X District Manager Report Advertise a workshop for 12:00 noon on December 14,to discuss a potential 9 new 0&M Methodology for the Alison X Alison sent an ad to the newspaper which was published on December FY2022 Budget 7,2020 Consensus of the Board to authorize 10 the Chair to meet with Golf Course Chairman representatives to discuss the draft O& X M methodology report Inframark to complete a supplemental 11 debt service report for the upcoming Inframark Assessment bond issue Team X Have CES review the issue of floating 12 nets in some ponds and provide a Supervisor Flister X potential solution for this problem Consensus by the Board that there should be three weed cuttings a year 13 for FY2021 utilize the surplus funds (credit from Tax Assessor office in the amount of$25,000) Review potential contract expansion 14 for third cutting to determine potential Supervisor Flister X pricing 15 Review of current permit to identify Justin any mitigation area in District ponds Albert Supervisor Schliep to conduct pond 16 surveys and report back to the Board. Supervisor Schliep Add to the agenda as a regular report Alison X on the monthly meeting agenda Agenda Page 42 Resident Follow Up Matrix Request Status Number Resident Date of Request Request Notes/Follow-up Required Completed Pending Ongoing Weeds in the canal were harvested Supervisor 1 Sean Phillips 27-Oct-20 8805 Spinner Cove Lane-weeds in canal X Flister followed-up with Bob 2 Diane Lecca 30.0ct-20 8826 Spinner Cove Lane-weeds in lake % Weeds were harvested near her property and she thanked us for the follow-up 3 Karen Jones 3-Nov-20 8783 Coastline-weeds in the lake X Waiting for treatment in Mid November 4 Audrey Schwartz 4-Nov-20 Payoff for Assessments X Request sent to assessment team Sent response and resident has no further 5 Larry Drappi 5-Nov-20 Questions on assessments X questions 6 Gerald Smith 11-Nov-20 9392 Slate Ct.-request on assessments % Sent to assessment team for additional information 7 Pete Reitz 15-Nov-20 Weeds in Boulder Lake % Responded to resident waiting for weed harvesting to be completed. 8 James Parish 18-Nov-20 CDD Payoff Information X 9 Dave Burro 3-Dec-20 We provided a detailed response and he Questions on assessments X acknowledged that it answered his questions Agenda Page 45 QUARRY COMMUNITY DEVELOPMENT DISTRICT DISTRICT COUNSEL REPORT DECEMBER 14, 2020 MEETING 1. Work with various parties in connection with proposed refinancing of outstanding debt. 2. Work with Faircloth in finalizing agreement for preserve maintenance. Agenda Page 48 RESOLUTION NO. 2021-02 A RESOLUTION OF THE BOARD OF SUPERVISORS OF QUARRY COMMUNITY DEVELOPMENT DISTRICT(THE"DISTRICT")APPROVING THE SALE AND TERMS OF SALE OF THE DISTRICT'S SPECIAL ASSESSMENT REFUNDING BOND, SERIES 2020 (THE "2020 BOND"); ESTABLISHING THE INTEREST RATE, MATURITY DATE, AND REDEMPTION PROVISIONS THEREOF; APPROVING A PRIVATE PLACEMENT FOR THE 2020 BOND; APPROVING THE FORM AND AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER TRUST INDENTURE AND A FIRST SUPPLEMENTAL TRUST INDENTURE; AUTHORIZING THE REFUNDING OF THE DISTRICT'S OUTSTANDING SPECIAL ASSESSMENT REFUNDING BONDS, SERIES 2015, SPECIAL ASSESSMENT REFUNDING AND IMPROVEMENT BONDS, SERIES 2018 AND SPECIAL ASSESSMENT BONDS, SERIES 2019 (SHORELINE RESTORATION PROJECT) AND NOTICES OF REDEMPTION WITH RESPECT THERETO; AUTHORIZING AND RATIFYING CERTAIN ACTIONS OF THE OFFICIALS AND STAFF OF THE DISTRICT, INCLUDING THE EXECUTION AND DELIVERY OF ALL DOCUMENTS, INSTRUMENTS, AGREEMENTS AND CERTIFICATES NECESSARY IN CONNECTION WITH THE ISSUANCE, SALE AND DELIVERY OF THE 2020 BOND AND THE REFUNDING OF THE REFUNDED BONDS;APPOINTING A TRUSTEE; SPECIFYING THE APPLICATION OF THE PROCEEDS OF THE 2020 BOND; PROVIDING CERTAIN OTHER DETAILS WITH RESPECT TO THE 2020 BOND;AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Board of Supervisors of Quarry Community Development District (the "Board"and the "District,"respectively)has determined to proceed at this time with the sale and issuance of the Quarry Community Development District Special Assessment Refunding Bond, Series 2020 (the "2020 Bond"), which 2020 Bond is to be issued under and pursuant to a Master Trust Indenture,dated as of December 1,2020(the "Master Indenture"),between the District and U.S. Bank National Association, as trustee (the "Trustee"), as supplemented by a First Supplemental Trust Indenture,to be dated as of December 1,2020(the"Supplemental Indenture" and,together with the Master Indenture, the "Indenture"),between the District and the Trustee, which 2020 Bond is to be issued, together with other moneys of the District, for the purposes of (i) currently refunding and redeeming all of the Outstanding principal amount of the District's Special Assessment Refunding Bonds, Series 2015 (the "2015 Bonds"), Special Assessment Refunding and Improvement Bonds, Series 2018 (the "2018 Bonds") and Special Assessment Bonds, Series 2019 (Shoreline Restoration Project) (the "2019 Bonds" and, together with the 2015 Bonds and 2018 Bonds, the "Refunded Bonds") in order to achieve debt service savings and (ii) funding the costs of issuance for the 2020 Bond;and 26944/009/01703075.DOCXv4 Agenda Page 49 WHEREAS, the Board has previously received the proposal attached hereto as Exhibit C from BBVA USA, an Alabama banking corporation (the "Bank") in the nature of a commitment letter (the "Commitment") submitted through MBS Capital Markets, LLC (the "Placement Agent")for the purchase of the 2020 Bond,and the Board previously approved and accepted such Commitment;and WHEREAS, in conjunction with the sale and issuance of the 2020 Bond, it is necessary to approve the forms of the Master Indenture and Supplemental Indenture to establish the principal amount, interest rate, maturity, redemption provisions, placement fee, costs and certain other details with respect thereto, to approve the form of the 2020 Bond, and to provide for various other matters with respect to the issuance and sale of the 2020 Bond and the refunding of the Refunded Bonds; NOW,THEREFORE, BE IT RESOLVED that: 1. Definitions. All words and phrases used herein in capitalized form, unless otherwise defined herein,shall have the meaning ascribed to them in the Indenture. 2. Award. Pursuant to Section 190.016(7), Florida Statutes, the Board hereby determines that, in its judgment, the issuance of the 2020 Bond will be advantageous to the District. The sale of the 2020 Bond to the Bank upon the terms and conditions set forth in the Commitment, and in a principal amount not to exceed the amount set forth in the Commitment, is hereby authorized and approved. The Chairman or Vice Chairman and the Secretary or any Assistant Secretary are hereby authorized and directed to execute, by manual or facsimile signature, seal or cause a facsimile seal to be impressed thereon, and deliver or cause to be delivered to the Trustee the 2020 Bond for authentication and then to deliver or cause to be delivered the 2020 Bond to or upon the order of the Bank, upon payment by the Bank of the purchase price set forth in the Commitment. The Placement Agent shall be paid a placement fee of 1.0%of the principal amount of the 2020 Bond,the payment of which fee from the proceeds of the 2020 Bond is hereby approved. 3. Private Placement. The Board hereby determines that a private placement of the 2020 Bond through the facilities of the Placement Agent is in the best interest of the District because the market for instruments such as the 2020 Bond is limited,because of prevailing market conditions and because the delays caused by soliciting competitive bids could adversely affect the District's ability to timely issue and deliver the 2020 Bond. 4. Indentures. Attached hereto as Exhibit A and Exhibit B, respectively, are the forms of Master Indenture and Supplemental Indenture, which are hereby authorized and approved, subject to such changes, additions, deletions and insertions as shall be approved by the Chairman or Vice Chairman and the Secretary or any Assistant Secretary, which approval shall be conclusively evidenced by the execution thereof. The Chairman or Vice Chairman is hereby authorized to execute and the Secretary or any Assistant Secretary is hereby authorized 26944/009/01703075.DOCXv4 2 Agenda Page 50 to attest such Master Indenture and Supplemental Indenture, and the Chairman or Vice Chairman is hereby authorized to deliver to the Trustee the Master Indenture and Supplemental Indenture, which, when executed and delivered by the Trustee, shall constitute the legal, valid and binding obligation of the District,enforceable in accordance with their terms. 5. Description of 2020 Bond. The 2020 Bond shall be dated as of the date of issuance and delivery to the Bank and may be issued in one series having such details as are set forth in the Commitment and as reflected in the Supplemental Indenture. The 2020 Bond may be signed by the manual or facsimile signature of the Chairman or Vice Chairman and initially countersigned by the manual or facsimile signature of the Secretary or any Assistant Secretary. The 2020 Bond shall be in the form and subject to redemption on the terms,at the times and prices and in the manner provided in the Commitment and in the form of 2020 Bond attached to the Supplemental Indenture, which form is hereby approved, subject to such changes, additions, deletions and insertions as shall be approved by the Chairman or Vice Chairman,which approval shall be conclusively evidenced by the execution thereof. The Chairman or Vice Chairman is hereby authorized to execute and the Secretary or any Assistant Secretary is hereby authorized to attest the 2020 Bond, and the Chairman or Vice Chairman is hereby authorized to deliver to the Trustee for authentication and delivery to the Bank the 2020 Bond,which,when executed and delivered by the Trustee, shall be the legal, valid and binding obligation of the District, enforceable in accordance with its terms. The 2020 Bond shall be secured by, and the District in the Supplemental Indenture grants to the Trustee for the benefit of the Bank, a lien on and a pledge of the Series 2020 Assessments imposed, levied and collected by the District in accordance with the Act, as more specifically described in the Supplemental Indenture and the Commitment. In addition, the 2020 Bond shall be secured by a lien and pledge of all amounts on deposit in the Funds and Accounts established under the Supplemental Indenture, except for any amounts in the Series 2020 Rebate Account in the Rebate Fund, all in accordance with the Supplemental Indenture and the Commitment. 6. Open Meetings. It is hereby found and determined that all official acts of this Board concerning and relating to the issuance,sale, and delivery of the 2020 Bond,including but not limited to adoption of this Resolution, were taken in open meetings of the Board and all deliberations of the members of the Board that resulted in such official acts were in meetings open to the public, in compliance with all legal requirements including, but not limited to, the requirements of Section 286.011,Florida Statutes. 7. Other Actions. The Chairman, the Vice Chairman, the Secretary, any Assistant Secretary and all other members, officers and staff of the Board and the District are hereby authorized and directed to take all actions necessary or desirable in connection with the issuance and delivery of the 2020 Bond and the consummation of all transactions in connection therewith, including the execution of all necessary or desirable certificates, documents, papers, and agreements and the undertaking and fulfillment of all transactions referred to in or contemplated by the Indenture,this Resolution and the Commitment. 26944/009/01703075.DOCXv4 3 Agenda Page 51 8. Deposits to Funds and Accounts. The Trustee is hereby authorized and directed to apply the proceeds of the 2020 Bond and the amounts on deposit in the Funds and Accounts for the Refunded Bonds in the amounts and in the manner set forth in Section 402 of the Supplemental Indenture. 9. Undertaking of the Refunding. The Board hereby authorizes the refunding of the Refunded Bonds, which are currently Outstanding in the principal amounts of $13,335,000.00 with respect to the 2015 Bonds, $3,119,547.46 with respect to the 2018 Bonds and $2,366,069.00 with respect to the 2019 Bonds,upon the terms and conditions as shall be set forth in the Indenture and in the Commitment. 10. Appointment of Trustee. U.S. Bank National Association is hereby appointed to serve as Trustee, Paying Agent, Registrar and Authenticating Agent under the Indenture. 11. Approval of Prior Actions. All actions taken to date by the members of the Board and the District officers, agents and consultants of the District in furtherance of the issuance of the 2020 Bond, including but not limited to the approval of the Commitment and the giving of notice of redemption to the holders of the Refunded Bonds,are hereby approved, confirmed and ratified. 12. Effective Date. This Resolution shall take effect immediately upon its adoption. PASSED in Public Session of the Board of Supervisors of Quarry Community Development District,this 14th day of December,2020. QUARRY COMMUNITY DEVELOPMENT DISTRICT Attest: Secretary/Assistant Secretary, Chairman, Board of Supervisors Board of Supervisors 26944/009/01703075.DOCXv4 4 Agenda Page 52 EXHIBIT A MASTER INDENTURE 26944/009/01703075.DOCXv4 Agenda Page 53 EXHIBIT B SUPPLEMENTAL INDENTURE 26944/009/01703075.D OCXv4 Agenda Page 54 EXHIBIT C COMMITMENT 26944/009/01703075.DOCXv4 Agenda Page 56 RESOLUTION 2021-03 [SERIES 2015, SERIES 2018 AND SERIES 2019 REFUNDING] A RESOLUTION SETTING FORTH THE SPECIFIC TERMS OF THE QUARRY COMMUNITY DEVELOPMENT DISTRICT'S SPECIAL ASSESSMENT REFUNDING BONDS, SERIES 2020; CONFIRMING AND ADOPTING SUPPLEMENTAL ASSESSMENT METHODOLOGY; CONFIRMING, ALLOCATING AND PROVIDING FOR THE COLLECTION AND PAYMENT OF SPECIAL ASSESSMENTS SECURING THE SPECIAL ASSESSMENT REFUNDING BONDS, SERIES 2020; PROVIDING FOR THE SUPPLEMENT TO THE IMPROVEMENT LIEN BOOK; PROVIDING FOR CONFLICTS, AN ASSESSMENT NOTICE, SEVERABILITY AND AN EFFECTIVE DATE. WHEREAS, the Quarry Community Development District (the "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 October 9, 2015, in accordance with Chapters 170, 190 and 197, Florida Statutes, without limitation, adopted Resolution 2015-08, A RESOLUTION AUTHORIZING REFINANCING OF CERTAIN DISTRICT PROJECTS; SETTING FORTH THE COSTS OF REFINANCING THE PROJECTS; SETTING FORTH THE SPECIFIC TERMS OF THE DISTRICT'S SPECIAL ASSESSMENT REFUNDING BONDS, SERIES 2015; EQUALIZING, APPROVING, CONFIRMING, AND LEVYING SPECIAL ASSESSMENTS ON PROPERTY SPECIALLY BENEFITTED BY SUCH PROJECTS TO PAY THE COST THEREOF; CONFIRMING AND ADOPTING A SUPPLEMENTAL SPECIAL ASSESSMENT METHODOLOGY REPORT; CONFIRMING THE SERIES 2015 ASSESSMENT LIEN; PROVIDING FOR THE PAYMENT OF THE SERIES 2015 ASSESSMENTS; PROVIDING FOR THE COLLECTION FO THE SERIES 2015 ASSESSMENTS; MAKING PROVISIONS FOR TRANSFERS OF REAL PROPERTY TO GOVERNMENTAL BODIES AND TREATMENT OF PROPERTY EXEMPT FROM SPECIAL ASSESSMENT; PROVIDING FOR THE SUPPLEMENT TO THE IMPROVEMENT LIEN BOOK; PROVIDING FOR THE RECORDING OF AN ASSESSMENT NOTICE; PROVIDING FOR SEVERABILITY, CONFLICTS AND AN EFFECTIVE DATE ("Series 2015 Assessment Resolution"); and WHEREAS, the Series 2015 Assessment Resolution was adopted in connection with the District's issuance of its $16,280,000 The Quarry Community Development District Special Assessment Refunding Bonds, Series 2015 ("Series 2015 Bonds"); and WHEREAS, the District, on May 21, 2018, in accordance with Chapters 170, 190 and 197, Florida Statutes, without limitation, adopted Resolution 2018-12, A RESOLUTION AUTHORIZING DISTRICT PROJECTS FOR ACQUISITION AND/OR CONSTRUCTION 1 Agenda Page 57 OF INFRASTRUCTURE IMPROVEMENTS; EQUALIZING, APPROVING, CONFIRMING, AND LEVYING SPECIAL ASSESSMENTS ON PROPERTY SPECIALLY BENEFITTED BY SUCH PROJECTS TO PAY THE COST THEREOF; SETTING FORTH THE SPECIFIC TERMS OF THE DISTRICT'S NOT TO EXCEED $3,485,000 SPECIAL ASSESSMENT REFUNDING AND IMPROVEMENT BONDS, SERIES 2018; PROVIDING FOR THE PAYMENT AND THE COLLECTION OF SUCH SPECIAL ASSESSMENTS BY THE METHODS PROVIDED FOR BY CHAPTERS 170, 190, AND 197, FLORIDA STATUTES; MAKING PROVISIONS FOR TRANSFERS OF REAL PROPERTY TO GOVERNMENTAL BODIES; PROVIDING FOR SUPPLEMENTATION OF THE IMPROVEMENT LIEN BOOK; PROVIDING FOR THE RECORDING OF AN ASSESSMENT NOTICE; PROVIDING FOR SEVERABILITY, CONFLICTS AND AN EFFECTIVE DATE. ("Series 2018 Assessment Resolution"); and WHEREAS, the Series 2018 Assessment Resolution was adopted in connection with the District's issuance of its $3,485,000 (Not to Exceed) The Quarry Community Development District Special Assessment Refunding and Improvement Bonds, Series 2018 ("Series 2018 Bonds"); and WHEREAS, the District, on May 22, 2019, in accordance with Chapters 170, 190 and 197, Florida Statutes, without limitation, adopted Resolution 2019-05, A RESOLUTION AUTHORIZING DISTRICT PROJECTS FOR ACQUISITION AND/OR CONSTRUCTION OF INFRASTRUCTURE IMPROVEMENTS; EQUALIZING, APPROVING, CONFIRMING, AND LEVYING SPECIAL ASSESSMENTS ON PROPERTY SPECIALLY BENEFITTED BY SUCH PROJECTS TO PAY THE COST THEREOF; SETTING FORTH THE SPECIFIC TERMS OF THE DISTRICT'S $3,508,296 SPECIAL ASSESSMENT BONDS, SERIES 2019 (SHORELINE RESTORATION PROJECT); PROVIDING FOR THE PAYMENT AND THE COLLECTION OF SUCH SPECIAL ASSESSMENTS BY THE METHODS PROVIDED FOR BY CHAPTERS 170, 190, AND 197, FLORIDA STATUTES; MAKING PROVISIONS FOR TRANSFERS OF REAL PROPERTY TO GOVERNMENTAL BODIES; PROVIDING FOR SUPPLEMENTATION OF THE IMPROVEMENT LIEN BOOK; PROVIDING FOR THE RECORDING OF AN ASSESSMENT NOTICE; PROVIDING FOR SEVERABILITY, CONFLICTS AND AN EFFECTIVE DATE. ("Series 2019 Assessment Resolution"); and WHEREAS, the Series 2019 Assessment Resolution was adopted in connection with the District's issuance of its $3,508,296 The Quarry Community Development District Special Assessment Bonds, Series 2019 (Shoreline Restoration Project) ("Series 2019 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 2015 Bonds, Series 2018 Bonds, and Series 2019 Bonds (together the "Prior Bonds") via the issuance of refunding bonds; and WHEREAS, in order to effect such refunding, on December 14, 2020, the District's Board of Supervisors ("Board") adopted Resolution 2021-02, authorizing the issuance of The Quarry Community Development District Special Assessment Refunding Bonds, Series 2020 2 Agenda Page 58 ("Series 2020 Refunding Bonds"), in an aggregate principal amount not to exceed $18,110,000.00 Series 2020 Refunding Bonds; and WHEREAS, pursuant to and consistent with the Series 2015 Assessment Resolution, Series 2018 Assessment Resolution, and Series 2019 Assessment Resolution (collectively, the "Prior Assessment Resolutions"), this Resolution sets forth the terms of the Series 2020 Refunding Bonds and confirms the lien of the levy of special assessments securing the Series 2020 Refunding Bonds. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE QUARRY 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 the Prior Assessment Resolutions. SECTION 2. FINDINGS. The Board hereby finds and determines as follows: (a) On October 9, 2015, the District, after due notice and public hearing, adopted the 2015 Assessment Resolution, which, among other things, equalized, approved, confirmed and levied special assessments on property benefitting from the infrastructure improvements authorized by the District and approved the allocation of special assessments pursuant to the 2015 Assessment Resolution. On May 21, 2018,the District,after due notice and public hearing, adopted the 2018 Assessment Resolution, which, among other things, equalized, approved, confirmed and levied special assessments on property benefitting from the infrastructure improvements authorized by the District and approved the allocation of special assessments pursuant to the 2018 Assessment Resolution. On May 22, 2019, the District, after due notice and public hearing, adopted the 2019 Assessment Resolution, which, among other things, equalized, approved, confirmed and levied special assessments on property benefitting from the infrastructure improvements authorized by the District and approved the allocation of special assessments pursuant to the 2019 Assessment Resolution. This Resolution shall supplement the Prior Assessment Resolutions for the purpose of setting forth the specific terms of the Series 2020 Refunding Bonds and certifying the amount of the lien of the special assessments securing any portion of the Series 2020 Refunding Bonds, including interest, costs of issuance, and the number of payments due. (b) The Special Assessment Refunding Bond, Series 2020, Supplemental Assessment Allocation Report, dated December 14, 2020, attached to this Resolution as Exhibit A ("Supplemental Assessment Methodology"), applies the Supplemental Special Assessment Methodology Report, dated August 14, 2015 (the "2015 Assessment Report"), the Preliminary Assessment Methodology Report for Special Assessment Refunding and Improvement Bonds, Series 2018, dated April 17, 2018 (the "2018 Assessment Report"), and the Supplemental Assessment Methodology Report for Special Assessment Bonds, Series 2019 (Shoreline Restoration Project), dated April 16, 2019 (the "2019 Assessment Report" together with the 2015 Assessment Report and 2018 Assessment Report, the "Prior Assessment Reports"), to the 3 Agenda Page 59 actual terms of the Series 2020 Refunding Bonds. The Supplemental Assessment Methodology is hereby approved, adopted and confirmed. (c) The"District Project," as described in the Supplemental Engineer's Report for the Quarry Community Development District, dated October 28, 2004 and amended November 17, 2004, the Supplemental Engineer's Report for Infrastructure Improvements, dated April 15, 2018, and Supplemental Engineer's Report for Phase I, II and III Infrastructure Improvements, dated April 16, 2019 (together, "Engineer's Report"), continues to specially benefit all of the properties identified in the Supplemental Assessment Methodology. The benefits of the District Project exceed the assessments allocated as provided in the Prior Assessment Reports and the Supplemental Assessment Methodology. SECTION 3. CONFIRMATION OF MAXIMUM ASSESSMENT LIEN FOR SERIES 2020 REFUNDING BONDS. This Resolution is intended to set forth the terms of the Series 2020 Refunding Bonds and the final amount of the lien of the special assessments securing those bonds. The Series 2020 Refunding Bonds, in a par amount of$18,110,000, shall bear such rates of interest and maturity as shown on Exhibit B attached hereto. The sources and uses of funds of the Series 2020 Refunding Bonds shall be as set forth in Exhibit C. The debt service due on the Series 2020 Refunding Bonds is set forth on Exhibit D attached hereto. The lien of the special assessments securing the Series 2020 Refunding Bonds on certain developable land within the District, as such land is described in Exhibit A, shall be the principal and interest amounts due on the Series 2020 Refunding Bonds, together with penalties, interest on late payments and 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 2020 REFUNDING BONDS. (a) The special assessments for the Series 2020 Refunding Bonds shall be allocated in accordance with Exhibit A. The Supplemental Assessment Methodology, considered herein, reflects the actual terms of the issuance of the District's Series 2020 Refunding Bonds. The estimated costs of collection and required gross up for early payment discount of the special assessments for the Series 2020 Refunding Bonds are as set forth in the Supplemental Assessment Methodology; however, in any given year, such actual costs and required gross up amounts shall be included in the special assessments collected by the District under any method authorized by law. (b) The lien of the special assessments securing the Series 2020 Refunding Bonds includes all lands within the District subject to the special assessments which originally secured the Series 2015 Bonds (the "Series 2015 Assessments"), the Series 2018 Bonds (the "Series 2018 Assessments"), and the Series 2019 Bonds ("Series 2019 Assessments"), except those that prepaid the Series 2015 Assessments, Series 2018 Assessments and/or 2019 Assessments in full, all as reflected in Exhibit A. To the extent additional land is added to the District, the District may, by supplemental resolution at a regularly noticed meeting and without the need for public hearing, determine such land to be benefitted and reallocate the special assessments securing the 4 Agenda Page 60 Series 2020 Refunding Bonds and impose special assessments on the newly added and benefitted property. SECTION 5. PAYMENT OF SPECIAL ASSESSMENTS AND METHOD OF COLLECTION. (a) The special assessments may be paid in not more than seventeen (17) consecutive annual installments of principal and interest. The Board shall at any time make such adjustments by resolution, at a noticed meeting of the Board, to that payment schedule as may be necessary and in the best interests of the District. The special assessments may be prepaid in full including interest amounts to the next succeeding interest payment date or to the second succeeding interest payment date if such a prepayment is made within forty-five (45) calendar days before an interest payment date. An owner of property subject to the special assessments may pay all, or a portion once, of the principal balance of such special assessment remaining due at any time if there is also paid an amount equal to the interest that would otherwise be due on such balance on the next succeeding interest payment date for the Series 2020 Refunding Bonds or, if prepaid during the forty-five (45) day period preceding such interest payment date, on the second succeeding interest payment date. Prepayment of special assessments does not entitle the property owner to any discounts for early payment. (b) In no event shall the District collect special assessments pursuant to this Resolution in excess of the total debt service related to the refunding bonds, including all costs of financing and interest. The District recognizes that such things as regulatory requirements and market conditions may affect the timing and scope of the development in the District. If any assessment reallocation pursuant to this Resolution would result in special assessments collected in excess of the District's total debt service obligation for the refunding bonds, the Board shall by resolution take appropriate action to equitably reallocate the special assessments. (c) The District hereby certifies the special assessments securing the Series 2020 Refunding Bonds for collection each year and directs staff to take all actions necessary to meet the time and other deadlines imposed for collection by Collier County and other Florida law. The District intends, unless inapplicable or unavailable or otherwise not in the District's best interests, to collect the special assessments securing the Series 2020 Refunding Bonds levied on platted lots using the Uniform Method in Chapter 197,Florida Statutes, or any successor statute thereto. 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 decision to collect special assessments by any particular method does not mean that such method will be used to collect special assessments in future years, and the District reserves the right in its sole discretion to select collection methods in any given year, regardless of past practices. (d) If in any year, the District determines it to be in its best interest to directly collect the special assessments, or if the Uniform Method is unavailable, the District Manager is further directed and authorized to take all actions necessary to collect the special assessments using methods available to the District authorized by Florida law. The deposit of all special assessments securing the Series 2020 Refunding Bonds collected by the District under any 5 Agenda Page 61 allowable method shall be made in accordance with the provisions of Sections 197.3632 and 197.3635,Florida Statutes. (e) 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 Board as required by law. (f) For each year the District uses the Uniform Method, the District shall enter into an agreement with the Collier County Tax Collector who may notify each owner of a lot or parcel within the District of the amount of the non-ad valorem special assessment imposed on property subject thereto, including interest thereon, in the manner provided in Section 197.3635, Florida Statutes. (g) Taking into account earnings on certain funds and accounts as set forth in the Master Trust Indenture and First Supplemental Trust Indenture, the District shall begin annual collection of special assessments for the Series 2020 Refunding Bonds debt service payments using the methods available to it by law. Debt service payments and semi-annual installments of interest are reflected on Exhibit D. (h) In the event a special assessment payment directly collected by the District is not made, the whole assessment, including any remaining partially deferred payments for the year in question if any, as well as future installments of special assessments securing the Series 2020 Refunding Bonds, shall immediately become due and payable; shall accrue interest, penalties in the amount of one percent (1%) per month, and all costs of collection and enforcement; and shall either be enforced pursuant to a foreclosure action, or, at the District's discretion, collected pursuant to the Uniform Method on a future tax bill, which amount may include penalties, interest, and costs of collection and enforcement. Any prejudgment interest on delinquent assessments shall accrue at the applicable rate of any bonds or other debt instruments secured by the special assessments. SECTION 6. 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 7. OTHER PROVISIONS REMAIN IN EFFECT. This Resolution is intended to supplement the Prior Assessment Resolutions, which remain in full force and effect. This Resolution and the Prior Assessment Resolutions 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, except as noted below. Upon the issuance of the Series 2020 Refunding Bonds and the complete redemption of the Prior Bonds, the Series 2020 Assessments shall supersede and replace the Series 2015 Assessments, Series 2018 Assessments, and Series 6 Agenda Page 62 2019 Assessments previously allocated pursuant to the Prior Assessment Resolutions, provided however, the lien of the Series 2015 Assessments, Series 2018 Assessments, and Series 2019 Assessments shall remain in effect for a particular parcel until such time as such parcel has paid all annual installments of Series 2015 Assessments, Series 2018 Assessments, and Series 2019 Assessments certified for collection. SECTION 8. ASSESSMENT NOTICE. The District's Secretary is hereby directed to record a Notice of 2020 Assessments in the Official Records of Collier County, Florida, which shall be updated from time to time in a manner consistent with changes in the boundaries of the District. SECTION 9. 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 10. EFFECTIVE DATE. This Resolution shall become effective upon its adoption. [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK] 7 Agenda Page 63 PASSED in Public Session of the Board of Supervisors this 14th day of December, 2020. ATTEST: THE QUARRY COMMUNITY DEVELOPMENT DISTRICT Secretary/Assistant Secretary Chairperson, Board of Supervisors Exhibit A: Supplemental Assessment Allocation Report Exhibit B: Maturities and Coupon of Series 2020 Refunding Bonds Exhibit C: Sources and Uses of Funds for Series 2020 Refunding Bonds Exhibit D: Annual Debt Service Payment Due on 2020 Refunding Bonds 8 Agenda Page 64 EXHIBIT A SUPPLEMENTAL ASSESSMENT METHODOLOGY 9 Agenda Page 65 EXHIBT B MATURIES AND COUPON OF SERIES 2020 REFUNDING BONDS BOND PRICING The Quarry Community Development Dlstria Special Assessment Refunding Bonds,Series 2020 Refunding of Series 2015 Bonds,Senes 2018 Bonds&Series 2019 Bonds) Preliminary/Subliect to Change Prtvate Placement(BOVA Mortgage Corporation Maturity Bond Component Date Amount Hate Yield Price Terra Bond. 05/01/2021 987,000 1940% L940% 100.000 05/02/2022 1,166,000 1940% L940% 100 000 06/01/2023 1,188,000 1940% L940% 100.000 05/01/2024 1,212,000 194094 1940'% 100,000 06/01/2025 1,235,000 L940% 1.94094 100.000 05/01 2026 1,260,000 1.940% L940% 103.000 05/01/2027 1,215,000 1940% L940% 100.000 03/01/2028 1,309,000 L940% L940% 100.000 05/e1/2029 1,336,000 1.940% 1.940% 100.000 0/01/2030 1,070,000 2940% 1.940% 100.000 05/01/2031 1,091,000 1_940% 1.940% 100.060 06/01/2032 1,112,030 1940% 1.940% 100.000 C6/01/2033 1.134,000 L940% 1.940% 106.000 05/01/2034 991,000 1440% 1.940% 100.000 05/01/2035 503,000 1.94096 1_940% 100000 05/01/2036 926,000 1.940% 1.940% 100.000 12,110,A00 Dated Date 12/21/7020 Delivery Date 12/21/2020 First Coupon 06/01/2021 Par Amount 18,110,030.00 Original Issue Discount Production 18,1.10,000_03 100000000% underwrites Drecount Purchase Price 18,110,000.00 100.000000% Acrrued tnterest Net Proceeds 111,110,000.00 Dec 7,2020 33a pmi Preparttd ay MSS Cattea Mar%at Pip 3 10 Agenda Page 66 EXHIBIT C SOURCES AND USES OF FUNDS FOR SERIES 2020 REFUNDING BONDS SOURCES AND USES OF FUNDS The Quarry Community Development District Special Assessment Refunding Bonds,Series 2020 Refunding of Series 2015 Bonds,Series 2018 Bonds&Series 2019 Bonds) Prefiminary%Sultfect to Change Private Placement 188VA Mortgage Corporation Series 2015 Series 2018 Series 2019 Sources: Refunding Refunding Refunding Total Rand Proceeds. Par Amount 12,769,000.00 2,992,000.00 2,349,000.00 18,110,0E0.00 Other Sources of Funds: FY 2020/21 Collections,Trarafen 225,00000 40,000.00 50,000.00 315,000.00 Liquidation of Revenue Account 145,883110 56,279.16 14,170.35 216,33331 Liquidation of DSRF Account 464,204.74 900,126,05 554,330.79 Liquidatkin of Prepaying,*Account 0.02 5,221.46 5,221.48 Liquidation of CO nuuction Account 51.49 51.49 Lrgvidatlon of Sinking Fund Amount 0.08 0.08 Liquidation of[nterest.Account 0.04 0.04 835,088.34 196,456.72 69,391.93 1,093,937.19 13,604,08854 3,1713,456.72 2,418,191.93 19,200,937.19 Series 2015 Series 2018 Series 2019 uses Refunding Refunding Refunding Total Refunding Escrow Deposits: Cash Degas* 13,408,712.92 3,132,762.21 2,382,089.26 18,923,564.39 Delivery Date Expenses: Cam of issi:ance 195,375.62 45,694.51 36,302.67 277,372.80 13,604,08834 3,178,456.72 2,418,19193 19,200,937.19 Hates Account 9ats•r.as K at Deollr>gaar 1,2D20 Servo 2D:5,$73,335,000 ISM UnK: fereenue Fund:$145,883.11 rteaa'oe Fuld:5464,204.74 Sares 201a,$3,119,547.46 164 units'_ Uranus Fund'.$36,279_16 lee+t►ree Fa-rd.$90,126.0S Sans 2019,$2,361,017 J 901 Urrti. Revenue Fund$14,170.35 Dec 7,3020 3:56 per Prepared try M6 Ureter Madtete Pape 1 11 Agenda Page 67 EXHIBIT D ANNUAL DEBT SERVICE PAYMENT DUE ON SERIES 2020 REFUNDING BONDS BOND DEBT SERVICE The Quarry Community Development District Special Assessment Refunding Bonds,Series 2020 Refunding of Series 2015 Bonds,Series 2018 Bonds&Series 2019 Bonds) Preliminary/Subfect to Change Prie ate Placement I BOVA Mortgage Corporation Period Annual Bond total Ending Principal Coupon Interest Debt Service Debt Service Balance Bond Vague 12/21/2020 18,110,000 18,110,000 05/01/2021 987,000 1_940% 126,870.61 1,113,870.61 17,123,010 17,123,000 11/01/2021 166,093.10 166,093.10 1,279,963.71 17,123,000 17,123,000 05/01/2022 1,166,000 1940% 166,093.10 1,332,093.10 15,957,000 15,957,000 11/01/2022 114,782.90 154,782.90 1,486)376.06 15,957,000 15,957,000 05/0I/2023 1,188,000 194D% 154,782.90 1,342,782.90 14,769,00 14,769,000 11/01/2023 143,259.10 143,259.30 1,486,04220 14,769,100 14,769,000 OS/01/2024 1,2.12,003 1940% 143,259.10 1,355,259.30 13,557,000 13,537,000 11/01/2324 131,502.90 131,502.90 1,486,762.20 13,557,000 13,557,000 05/01/202.S 1,235,000 1.940% 111,50290 1,366,502.90 12,322,000 12,322,000 11/01/2025 119,523.40 119523.40 1,486,026.30 12,122,000 12,322,000 OS/01/2026 1,260,000 1.940% 119,52_3.40 1,379523.40 11,062,000 11,062,000 11/01/2026 107,301.40 107,30/40 1,486 824.80 11,062,000 11,062,000 es/01/2427 1,2115,030 1.940% 107,30140 1,392,301.40 9,777,000 9,777,000 11/01/2027 94,836.90 94,836.90 1,487,13830 9,777,000 9,777,000 05/01/2028 1,309,1100 1.940% 94,e36.90 1,403, 36.90 13,466000 8,468000 11/01/2028 82,139.60 6213960 1485,976.50 8,468,000 8,468,000 05/01/2029 1,336,000 L940% 82,139.60 1,418119.60 7,132,000 7,132,030 11/01/2029 69,180.40 69,180.40 1,487,32000 7,132,030 7,132,000 05/01/203e 1,070,000 1940% 69,180.40 1,119,180.40 6,062000 6,062,000 11/01/2030 58,801.40 58901.40 1,197,981.e0 6,062,000 6,062,000 05/01/2031 1,091,000 1.940% 58,90140 1,149,801.40 4,971,000 4,971,000 11/01/2031 48,219.70 48,218.70 1,198,020.10 4,971,000 4,971,003 05/01/2032 1312,030 1.940% 48,21170 1,160,218.70 3,659,000 3,859,000 11/01/2032 37,412.30 37,43230 1,197,651.00 3,859,000 3,859,000 05/01/2033 1,134,000 L940% 37,432.10 1,171,43230 2,77_5,000 2,725,000 11/01/2033 26,432.50 26,432.50 1,197,66+1210 2,725,000 2,725,000 05/01/2034 891,000 1.940% 26,432.50 917,412.50 1,834,030 1.,634,000 11/01/2034 17,789.80 17,7e9130 935,22230 1,1134,000 1,834,000 05/01/2035 903,003 1.940% 17,789.80 925,789130 926,000 926,030 11/01/2035 8,982.20 8,982.20 934,772.00 926,000 926,000 05/01/2036 926.000 1.940% 8,982,20 934,982.20 11/01/2036 934962 20 18,110.000 2,659,424.21 20,769,424.21 20,769,424.21 Om 7,711M 358 pm Prepar d Ise M6 t]p1t*Mamas Pipe f 12 Agenda Page 70 QUARRY COMMUNITY DEVELOPMENT DISTRICT CHAIRMAN'S ACTIVITY REPORT SINCE LAST MEETING FOR DECEMBER 14, 2020 MEETING 1. FEMA Update: a. Florida DEM has sent its financial review of the project to Ernst & Young (EY). EY is doing a detailed audit of the Phase I and II contracts, change orders and payments, vendor by vendor. A number of questions have arisen from their review of their first vendor, Metro Services. We are coordinating this response with our FEMA attorney, Tony Ettore. b. Generally good news, but still no date nor amount can be provided by FEMA on their review of our funding request. 2. Resident issues: a. Inquiries on the new tax bill from homeowners continue to occur b. Inquiries on weeds in lake 3. Review and process invoices through AVID 4. Assessment Methodology: discussed results with consultant. 5. Quarry Golf Club a. As authorized, I met with the Golf Club representatives (11.24.20) to initiate a dialogue on the assessment methodology and the resulting increase in assessment to the Golf Club. b. On 12.02.20 rode the golf club lake and pond shoreline to witness problem areas needing erosion repair. 6. Conversations with Inframark and Wes Haber on refinancing, and agenda for December meeting. Stanley T. Omland. PE, PP, CME, LEED AP 12.07.20 Agenda Page 72 Quarry Community Development District Lake and Preserve update since last meeting in November Inframark sent the Preserve contract to CES for review and execution. Once complete will coordinate a walk-through of the area to confirm priorities and the timeline. Heritage Bay CDD has instructed its lake contractor to look into the Illinois Pond Weed within the passageway in Boulder Lake. The Weedoo, owned by CES, is again operational and working the beach area. It had been out of service for approximately two weeks for repairs. Consideration is being given to purchasing a second machine in the anticipation of adding a third cutting. A pilot test of granular chemicals around a dock on Stone lake is underway to evaluate its effectiveness on the Illinois Pond Weed. Agenda Page 74 Report on Action Items for Heritage Bay Umbrella Association Prepared by Supervisor Tim Cantwell Dated: December 7, 2020 During November CDD meeting I was assigned to follow-up with Laura Severance regarding the subject of the "IPW" problem in our lakes. I have corresponded with Laura and outlined the following key points: 1.The QCDD desires to provide more concise communications to our homeowners regarding our policies, procedures and limitations for clearing IPW from our waterways. 2.To that end,the QCDD does not have a clear understanding of"how", "what", and "when"the Heritage Bay CDD is planning and executing plans for clearing IPW in the lakes under their control. 3. It is important for the QCDD to coordinate with QCDD to provide more clarity to our homeowners regarding our current efforts, and our desire for improvements to our efforts to effectively manage IPW. To do this we require the Heritage Bay Umbrella Association's support to assist in this coordination of efforts. Laura is receptive and willing to help us. However, she is limited due to personal reasons in how much she can do at this time, but is hopeful that after mid-January she can resume her level of activity to assist us.