MINUTES OF MEETING EDEN HILLS
COMMUNITY DEVELOPMENT DISTRICT

The Regular meeting of the Board of Supervisors of the Eden Hills Community Development District was held Friday, February 12, 2020 at 5:00 p.m. at The Lake Alfred Public Library, 245 North Seminole Avenue, Lake Alfred, Florida.

Present and constituting a quorum:

Lauren Schwenk via phone
Jack Berry Matthew Cassidy Andrew Rhinehart

Also present were:

Jill  Burns Roy Van Wyk
Ashton Bligh via phone

FIRST ORDER OF BUSINESS

Vice Chairman Assistant Secretary Assistant Secretary Assistant Secretary

District Manager, GMS
District Counsel, Hopping Green & Sams Greenberg Traurig

Roll Call

Ms. Bums called the meeting to order and called the roll.

SECOND ORDER OF BUSNESS	Public Comment Period
There were no members of the public present for the meeting.

THIRD ORDER OF BUSINESS	Approval of the Minutes of the January
21, 2020 Board of Supervisors Meeting

On MOTION by Mr. Rhinehart, seconded by Mr. Berry, with all in favor, Minutes of the January 21, 2020 Board of Supervisors Meeting, were approved.

Ms. Bums asked for any comments, corrections, or changes to the January 21, 2020 Board of Supervisors meeting minutes. The board had no changes.

FOURTH ORDER OF BUSINESS	Consideration	of	Resolution	2020-36
Delegation Resolution

On MOTION by Mr. Rhinehart, seconded by Mr. Berry, with all in favor, Resolution 2020-36 Delegation Resolution, was approved.

Ms. Bligh noted that this was the supplemental indenture contemplated when they did the original resolution in November 2019. It allowed the district to issue bonds in a not to exceed amount of $25 million. Ms. Bligh presented and explained the exhibits attached to the resolution. The exhibits include a First Supplemental Trust Indenture, a Bond Purchase Agreement, a Preliminary Limited Offering Memorandum, and a Continuing Disclosure Agreement which identifies material events that have to be noticed on EMMA should they occur. Ms. Bligh pointed out Section 5 which includes the parameters of the 2020 bonds. The bonds shall be subject to redemption not later than November 1, 2032. The interest rate on the Series 2020 bonds shall not exceed that which is allowed under Florida Law. The initial aggregate principal amount of the bonds shall not exceed $2.89 million. The bonds shall have a maturity not later than the maximum term allowed in Florida Law which is currently 30 years. The price at which the Series 2020 bonds shall be sold to the underwriter shall not be less than 98% of the aggregate phase amount of the bonds. The board had no questions on the delegation resolution.

FIFTH ORDER OF BUSINESS	Consideration	of	Resolution	2020-37
Adopting an Internal Controls Policy

On MOTION by Mr. Rhinehart, seconded by Mr. Berry, with all in favor, Resolution 2020-37 Adopting an Internal Controls Policy, was approved.

Ms. Burns stated the district is statutorily required to establish and maintain internal controls designated to prevent and detect fraud, waste, and abuse. Most of the policies were already in place by the district, this resolution just adopts the policies.

SIXTH ORDER OF BUSINESS	Consideration	of	Resolution	2020-38
Public  Hearing  on  the Fiscal  Year 2020
Budget

On MOTION by Mr. Rhinehart, seconded by Mr. Berry, with all in favor, Opening the Public Hearing, was approved.

Ms. Burns asked for a motion to open the public hearing.

Ms. Burns noted that the budget will be developer funded for the fiscal year 2020. The board had no questions on the budget.

On MOTION by Mr. Rhinehart, seconded by Mr. Berry, with all in favor, Resolution 2020-38 Fiscal Year 2020 Budget, was approved.

On MOTION by Mr. Rhinehart, seconded by Mr. Berry, with all in favor, Closing the Public Hearing, was approved.

SEVENTH ORDER OF BUSINESS	Staff Reports
Attorney
Mr. Van Wyk stated that they are ready to do their financing as soon as the appeal period ends.

Engineer
There being none, the next item followed.

District Manager's Report
Approval of the Check Register
Ms. Burns noted the total was $17,009.87. The board had no questions on the check register.

On MOTION by Mr. Rhinehart, seconded by Mr. Berry, with all in favor, the Check Register totaling $17,009.87, was approved.

Balance Sheet and Income Statement
Ms. Bums presented the financials and asked for any questions. The board had no questions.

EIGHTH ORDER OF BUSINESS
There being none, the next item followed.

NINTH ORDER OF BUSINESS

There being none, the next item followed.

Other Business

Supervisors	Requests	and	Audience Comments

Burnsadjourned	at

ELEVENTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Rhinehart, seconded by Mr. Cassidy, with all in favor, the meeting was adjourned at 5:08 p.m.

Ms.	the meeting	5:08 p.m.

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