Candler Hills East Community Development District

Agenda

February 20, 2018

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Candler Hills East
Community Development District

135 W. Central Blvd., Suite 320, Orlando, Florida 32801
Phone: 407-841-5524- Fax: 407-839-1526

February 13, 2018

Board of Supervisors
Candler Hills East Community Development District

The Board of Supervisors of the Candler Hills East Community Development District will meet on Tuesday, February 20, 2018 at 9:00 a.m., or as shortly thereafter as reasonably possible, at the Circle Square Commons, Cultural Center, 8395 SW 80th Street, Ocala, FL. Following is the advance agenda for the meeting:

Roll Call
Public Comment Period
Notice for Meeting
Approval of Minutes of the November 21, 2017 Meeting
Discussion of Cost Sharing with Homeowner's Association Relative to Maintenance of Storm Water System
Staff Reports
Attorney
Engineer
District Manager
Approval of Check Register
Balance Sheet and Income Statement
Consideration of Series 2016 Arbitration Report
Other Business
Supervisors Requests
Adjournment

The second order of business is the Public Comment Period where the public has  an  opportunity to be heard on propositions coming before the Board as reflected on the agenda,  and any other items.

Enclosed under the third order of business is the affidavit of publication associated with the public notice for this meeting.

The fourth order of business is the approval of the minutes from the November 21, 2017 meeting. The minutes are enclosed for your review.

The fifth order of business is the discussion of cost sharing with the Homeowner's Association relative to maintenance of storm water system. This is an open discussion and no back-up is provided.

The sixth order of business is Staff Reports. Section 1 of the District Managers Report includes the check register for approval and Section 2 includes the balance sheet and income statement for your review. Section 3 is the consideration of the Series 2016 Arbitration Report. A copy of the report is enclosed for your review.

The balance of the agenda will be discussed at the meeting. In the meantime, if you have any questions, please contact me.

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Sincerely,

George S. Flint District Manager

Cc:	Gerald Colen, District Counsel Ken Colen, On Top of the World
Guy Woolbright, On Top of the World Lynette Vermillion, On Top of the World Darrin Mossing, GMS

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AFFIDAVIT OF PUBLICATION

R..t CZIVED
Sc? 2 5 2017

Star-Banner

Published -  Daily Ocala, Marion County, Florida

BY:

..;.............--
STATE OF FLORIDA COUNTY OF MARION

..·..,_.	l?. fore  t e  .und. t;:r,,sir  11.e d,  a  Notary  Public  of  Said  Cou. nty  and  S. ate,
M, "d i .l''::!!:i.' _fu :_r,: . µs.. who on oath says that they are filU!Uthonzed employee of the Star-Ba . er, a daily newspaper published at Ocala, in Marion County, Florida; that the attached copy of advertisement, being a notice in the
matter of
NOTICE OF MEETING DATES CANDLER HILLS EAST COMMUNITY
DEVELOPMENT DISTRICT The Board of Supervisors of llie Candler Hills East Community Development District will hold their regularly scheduled public meetings for the Fiscal Year 2018 at 9:00 AM, or as sh

was published in said newspaper in the issues of:

9121 Ix

Affiant further says that the said STAR-BANNER is a daily newspaper published at Ocala, in said Marion County, Florida, and that the said newspaper has heretofore been continuously published in said Marion County, Florida, daily, and has been entered as second class mail matter at the post office in Ocala in said Marion County, Florida, for a period of one year next preceding the first publication of the attached cbpy of advertisement; and affiant further says that he
has neither paid nor. promised any person, firm or corporation any discoun4 rebate, commission or refund for the person of securing this advertisement for pubiication i1ithe said newspaper.

Sworn to and subscribed before me this..7d_ day of Se-+	it_t;:r	A.O., 20l]

(Print, Type or Stamp Name ofNotary Public)

Ad #: A000918500

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MINUTES OF MEETING CANDLER HILLS EAST
COMMUNITY DEVELOPMENT DISTRICT

The Regular Meeting of the Board of Supervisors of the Candler Hills East Community Development District was held on Tuesday, November 21, 2017 at 9:00 a.m. at Circle Square Commons Cultural Center at 8395 S.W. 80th Street, Ocala, Florida.

Present and constituting a quorum were:

Elmer Greene Robert Scherff John Bain Larry Garvin

Also present were:

George Flint Gerald Colen Several Residents

FIRST ORDER OF BUSINESS

Vice Chairman Assistant Secretary Assistant Secretary Assistant Secretary

District Manager District Counsel

Roll Call

Mr. Flint called the meeting to order and called the roll. A quorum was present.

SECOND ORDER OF BUSINESS	Public Comment Period
Mr. Flint: This is an opportunity for any members of the public to provide comments to the Candler Hills East CDD Board, on any items on the agenda, or any items that they would like to bring to the Board's attention. Not hearing any,

THIRD ORDER OF BUSINESS	Notice for Meeting
Mr. Flint: The meeting notice of the November 21, 2017 meeting, was advertised in the Ocala tar Banner for 9:00 a.m. at this location. Proof of publication is included in your agenda package.

FOURTH ORDER OF BUSINESS	Approval of Minutes of the August 15,
2017 Meeting

November 21, 2017	Candler Hills East CDD

Mr. Flint: Were there any additions, deletions or corrections to the minutes? Not hearing

On MOTION by Mr. Greene, seconded by Mr. Scherff, with all in favor, the minutes of the August 15, 2017 meeting were approved, as presented.

any,

FIFTH ORDER OF BUSINESS	Consideration of Agreement with Berger,
Toombs, Elam, Gaines & Frank to Provide Auditing Services for Fiscal Year 2017
Mr. Flint: The CDD, as a governmental entity, is required to have an independent annual audit performed. The Board went through a selection process, as prescribed by the Statutes, and selected Berger, Toombs, Elam, Gaines & Frank to prepare the annual independent audit. In the past, you entered into annual engagement Letters with them. The proposed engagement letter is in your agenda package. It has a not to exceed fee of $3,405.
Mr. Garvin: Is that the amount we agreed to?
Mr. Flint: Yes. If there are any questions, we can discuss those. If not, I would ask for a motion to approve the agreement.
Mr. Garvin: Is it boilerplate?
Mr. Flint: Yes. We deal with Berger, Toombs in a number of other Districts and this is their standard agreement. It's been reviewed by many attorneys and we have no concerns. Are there any other questions? Not hearing any,

On MOTION by Mr. Garvin, seconded by Mr. Scherff, with all in favor, the Agreement with Berger, Toombs, Elam, Gaines & Frank to perform the Fiscal Year 2017 Audit, in the amount of $3,405, was approved.

SIXTH ORDER OF BUSINESS	Consideration of Agreement with Grau &
Associates to Provide Arbitrage Rebate Calculation Services
Mr. Flint: I added this item to the agenda and distributed a revised agenda, as well as a copy of the proposed agreement. It's with Grau & Associates to perform the Arbitrage Rebate Calculation Report. This is a requirement associated with the outstanding bonds. They have to

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November 21, 2017	Candler Hills East COD

provide a calculation showing that we've earned less interest than we paid. It's a $600 fee that's very competitive. They provided this service to the District in the past.
Mr. Scherff: I would think since they are doing the audit, we should be consistent with
them.
Mr. Flint: Grau did the audit in the past, but the Board changed to Berger, Toombs;
however, Berger, Toombs does not offer arbitrage rebate calculation services. There's  no problem with Grau continuing to provide this service. There are other companies that  do arbitrage rebate calculations, but the price is going to be within $50 of their proposal. Are there any other questions? You approved this agreement in the past at the same price.

On MOTION by Mr. Garvin, seconded by Mr. Scherff, with all in favor, the Agreement with Grau & Associates to provide Arbitrage Rebate Calculation Services, in the amount of $600, was approved.

SEVENTH  ORDER OF BUSINESS	Staff Reports
Attorney
Mr. Flint: Gerry do you have anything?
Mr. Colen: No, but I want to wish everyone a Happy Thanksgiving and happy holiday
season.
Engineer
There being none, the next item followed.
District Manager's Report
Approval of Check Register
Mr. Flint:	You have the approval of the Check Register from August 8th through
November 14, 2017, for the General Fund and Payroll, totaling $32,719.60. The detail register is behind the summary. As in the past, you will see that there are some transfers to Candler Hills East, in care of US Bank. That is just moving the debt service assessment revenue  to the  Trustee. Are there any questions on the Check Register?
Mr. Garvin: Just refresh my memory. Is the Assessment Roll, the fee that we paid to the County?

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November 21, 2017	Candler Hills East CDD

Mr. Flint: No. That's a fee paid to GMS under  our agreement.  It's a one-time  annual fee, for preparation of the Assessment Roll and certifying it to the tax collector for collections. That's for dealing with tracking the assessments, lien book, etc.
Mr. Scherff: Is that something we discussed in the past and agreed on the amount? Mr. Flint: It's part of our agreement that was approved in the original agreement. Mr. Scherff: What is Insurance Premium?
Mr. Flint: It's a one-time annual fee to the Florida Insurance Alliance. Egis is the agent, but the Florida Insurance Alliance is a local government cooperative. It's for the District's liability insurance. That protects the District for general liability and also includes a public official's liability component, which protects the Board Members, individually.
Mr. Scherff: What is the Special District Fee of $175?
Mr. Flint: That's a fee of $175 per year, which is paid to the Department of Economic Opportunity. It used to be the Department of Community Affairs, which is a State Department that's charged with tracking all of the Special Districts in the State. It's a required fee that all Special Districts have to pay one time a year. Are there any other questions? If not, we need a motion to approve the Check Register.

On MOTION by Mr. Greene, seconded by Mr. Scherff, with all in favor, a	roving the Check Re  ister, was a	roved.

Balance Sheet and Income Statement
Mr. Flint: Next are the Unaudited Financial Statements through October 31, 2017.  This is the first month of Fiscal Year 2018. You will see the Combined Balance Sheet, as well as the Income Statement or Statement of Revenue and Expenditures for the General Fund, Reserve Fund and Debt Service Fund. We also included a month-to-month schedule, so throughout the year, you can see from month-to-month, the General Fund revenue and expenses. Are there any questions on the Financial Statements?
Mr. Scherff: One quick question. Under Maintenance Contingencies on Page 2, is the
$2,136 for pine straw?
Mr. Flint: I will have to check.
Mr. Gavin: It's listed on the Check Register as pine straw.

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November 21, 2017	Candler Hills East CDD

Mr. Flint: That's obviously not going to be the one-twelfth a month expense.  The fact  that we are over on the pro-rated expenses, doesn't indicate an issue.  Are there any  questions? No action is required.

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

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

TENTH ORDER OF BUSINESS

Other Business

Supervisor's Requests

Adjournment

On MOTION by Mr. Scherff, seconded by Mr. Bain, with all in favor, the meetinu ad journed.

Secretary/Assistant Secretary	ChairmanNice Chairman

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Candler Hills East
Community Development District
Summary of Invoices
November 15, 2017 to February 09, 2018

Fund	Date	CheckNo.'s	Amount

General Fund	11/16 /17	862	$	350.00
11/17/17	863	$	10,783.79
12/1/17	864-866	$	5,814.88
12/7/17	867	$	961.84
12/13/17	868	$	78,528.79
12/21/17	869	$	9,831.25
1/3/18	870	$	20,697.42
1/ 4/18	871-872	$	6,186.60
1/9/18	873	$	901.91
1/11/18	874	$	600.00
1/15/18	875	$	22,767.19
1/24/18	876	$	63,380.53
2/1/18	877	$	4,166.28
2/6/18	878	$	904.89

$	225,875.37

Payroll	November 2017
Elmer Greene	50176	$	184.70
John Bain	50177	$	184.70
Larry Garvin	50178	$	200.00
Robert Scherff	50179	$	184.70
$	754.10
$	226,629.47 1

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	2/11/18
***   CHECK DATES 11/15/2017 - 02/09/2018 ***   ·	CANDLER HILLS-GENERAL FUND
BANK A CANDLER HILLS CDD

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CHECK	VEND#	•••.•INVOICE••.•••..EXPENSED TO...	VENDOR NAME DATE			DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS
11/16/17 00040	11/13/17 1481300	201710 310-51300-31100
SWFWMD DIST ENG INSP/CERT

-

-	-	-	-	-	-

-  -  -  -  - - -	-  - - - -	- -	-	-  -  - - -	-	DEWBERRY ENGINEERS, INC. 11/17/17 00033	11/17/17 11172017 201711 300-20700-10200
FY18 DEBT ASSESSMENTS

-	-	-	- - - -	- -	-	-

CANDLER HILLS EAST CDD C/O USBANK
-  - -	-	-   -  - -  -	-	- - -  -	-	- -
12/01/17 00005	11/22/17 11222017 201711 310-51300-31500

WAGONER	P.A.	1,500.00	000864	
		*	148.60
148.60	
000865	

PREP/ATTEND CDD MEETING

STATUS	AMOUNT	•••.CHECK••••.
AMOUNT	#
*	350.00
350.00 000862
*	10,783.79
10,783.79 000863
*	1,500.00

- - - - - - - - - - - - - - - - - - - - - - - - - -

COLEN &

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12/01/17 00004	11/21/17 60013712 201711 310-51300-42000
DELIVERY 11/14/17

- - - - - - - - - - - - - - - - - - - - - - - - -

FEDEX
- - -

12/01/17 00041	11/19/17 3394	201711 320-53800-47000
POND MOWING - NOV17

-	-	-	-	- -	-	- -

SHARP SITE SERVICES, LLC
-	-	-  -  - - -	-  -  - - -	-  - -  -	-	- -

*	4,166.28

4,166.28 000866

12/07/17 00019	12/01/17 171	201712 310-51300-34000
MANAGEMENT FEES DEC17
12/01/17 171	201712 310-51300-35100
INFO TECHNOLOGY DEC17
12/01/17 171	201712 310-51300-31300
DISSEMINATION FEE DEC17 12/01/17 171	201712 310-51300-51000
OFFICE SUPPLIES
12/01/17 171	201712 310-51300-42000

	12/01/17	171	201712	

12/13/17 00033	
12/08/17	
12082017	
201712	

POSTAGE

*	603 .67
*	83,33
*	208.33
*	27.83
*	3.43

COPIES

310-51300-42500	*
GOVERNMENTAL MANAGEMENT SERVICES
300-20700-10200	*

35.25

35,581.54

961.84 000867

FY18 DEBT ASMNT 11/27/17 12/08/17 12082017 201712 300-20700-10200
FY18 DEBT ASMNT 12/07/17

*	42,947.25

CANDLER HILLS EAST CDD C/O USBANK
12/21/17 00033	12/19/17 12192017 201712 300-20700-10200
FY18 DEBT TAX ASMNT 12/19

*	9,831.25

78,528.79 000868

CANDLER HILLS EAST CDD C/O USBANK
1/03/18 00033	1/02/18 01022018 201801 300-20700-10200
FY18 DEBT ASSESSMENTS

*	20,697.42

9,831.25 000869

CANDLER HILLS EAST CDD C/O USBANK	20,697.42 000870

CAND CANDLER HILLS BPEREGRINO

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	2/11/18
*** CHECK DATES 11/15/2017 - 02/09/2018 ***	CANDLER HILLS-GENERAL FUND
BANK A CANDLER HILLS COD

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CHECK	VEND# •••••INVOICE••••.•••EXPENSED TO...	VENDOR NAME DATE		DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS
1/04/18 00041	12/28/17 3444	201712 320-53800-47000
POND MOWING - DEC17

-	-	- - - -	-	- - - -	-	-

SHARP SITE SERVICES, LLC
-	-  - -	- -	-	- -	-	- -	- -
1/04/18 00022	12/22/17 4856415	201712 310-51300-32300
TRUSTEE FEES-SER2016-FY18

STATUS	AMOUNT	.•••CHECK.•••• AMOUNT	#
*	4,166.28

-	-	-

4,166.28 000871
- -	-   -  - -  -  -  - - -	-
*	2,020.32

USBANK

- - - - - - - - - -

2,0-20.32 000872

1/09/18 00019

1/02/18 172	201801 310-51300-34000
MANAGEMENT FEES JAN18
1/02/18 172	201801 310-51300-35100
INFO TECHNOLOGY JANlB
1/02/18 172	201801 310-51300-31300
DISSEMINATION FEES JAN18 1/02/18 172	201801 310-51300-41000
TELEPHONE

-  -	- -
*	603.67
*	83.33
*	208.33
*	6.58

- - -

GOVERNMENTAL MANAGEMENT SERVICES

-	-	- -	- - - -

-  -	-	- - -  -	-

- - - - - - - - - -

901.91 000873

-

- - - -

1/11/18 00026

1/03/18 16230	201801 310-51300-31400
ARBITRAGE-SER201610/31/17

*	600.00

1/15/18 00033

1/24/18 00033

2/01/18 00041

GRAU & ASSOCIATES
1/12/18 01122018 201801 300-20700-10200
FY18 DEBT ASSESSMENTS
CANDLER HILLS EAST CDD C/0 USBANK
1/24/18 01242018 201701 300-20700-10200
FY18 DEBT ASSESSMENTS
CANDLER HILLS EAST CDD C/0 USBANK
1/24/18 3479	201801 320-53800-47000
POND MOWING - JAN18

-  -  - -  -  - -  -  -  -  -  - 6-00.- 00 000874

-

*	22,767.19

- -	-	- -

22,767.19 000875
- -  -  - - -  -	-	-	-
*	63,380.53

-	-	- -

63,380.53 000876
- -  -  - -  -	-	-	- - -
*	4,166.28

2/06/18 00019

SHARP SITE SERVICES, LLC

- -	-	-	- -	-	-	-

-	-  -	-	-	-  -	-	-	-
2/01/18 173	201802 310-51300-34000
MANAGEMENT FEES FEB18
2/01/18 173	201802 310-51300-35100
INFO TECHNOLOGY FEB18
2/01/18 173	201802 310-51300-31300
DISSEMINATION FEE FEB18 2/01/18 173	201802 310-51300-51000
OFFICE SUPPLIES
2/01/18 173	201802 310-51300-42000
POSTAGE
2/01/18 173	201802 310-51300-42500
COPIES

-	-  -  -	-  -  -  - 4,16- 6.- 28-

- -	-	-

*	603.67
*	83.33
*	208.33
*	.60
*	7.46
*	1.50

000877

GOVERNMENTAL MANAGEMENT SERVICES

TOTAL FOR BANK A CANO CANDLER HILLS BPEREGRINO

225,875.37

904.89 000878

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER
***  CHECK DATES 11/15/2017 - 02/09/2018 ***	CANDLER HILLS-GENERAL FUND
BANK A CANDLER HILLS CDD

RUN	2/11/18

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CHECK	VEND# •••••INVOICE•••.••••EXPENSED TO...		VENDOR NAME DATE		DATE	INVOICE	YRMO  DPT ACCT# SUB	SUBCLASS

STATUS

AMOUNT

....CHECK.....
AMOUNT	#

TOTAL FOR REGISTER	225,875.37

CANO CANDLER HILLS BPEREGRINO

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Candler Hills East
Community Development District

Unaudited Financial Reporting January 31, 2018

Governmental Management Services

•	•	•	•	•	•	•	•	•	•	•	•	•	•	•

Table of Contents

Balance Sheet

General Fund

Debt Service Fund

Capital Reserve Fund

Month to Month

Long-Term Debt

Assessment Receipt Schedule

Candler Hills East
For the  Period Ended January 31, 2018

	Governmental Fund T	es			Totals	
	General	Debt	Capital		(Memorandum Only)	
	 	Fund	Service 	Reserves		2018	
ASSETS:
CASH	$100,670	---		
---	
$100,670	
INVESTMENTS - BONDS					
SERIES 2016
RESERVE	
---	$118,106		---	
$118,106	
REVENUE	---	$334,534		---	$334,534	
PREPAYMENTS	---	$9,001		---	$9,001	
INVESTMENTS - OPERATIONS					
SBA ACCOUNT	---	---	$161,239	$161,239	
DUE FROM GENERAL FUND	 	---		---	 	---		$0	
TOTAL ASSETS	$100,670	$461,641	$161,239	$723,550	

LIABILITIES:
ACCOUNTS PAYABLE	

$4,166	
---	
---	$4,166	
DUE TO DEBT SERVICE	---	---	---	$0	
FICA PAYABLE	---	---	---	$0	
FUND BALANCES:
RESTRICTED FOR DEBT SERVICE	
---	

$461,641	
---	$461,641	
RESTRICTED FOR CAPITAL PROJECTS	---	---	---	$0	
ASSIGNED	---	---	$161,239	$161,239	
UNASSIGNED	$96,504	---	---	$96,504	
TOTAL LIABILITIES & FUND EQUITY	$100,670	$461,641	$161,239	$723,550	

Candler Hills East
COMMUNITY  DEVELOPMENT DISTRICT
General Fund
Statement of Revenues & Expenditures
For the Period Ended January 31, 2018

	ADOPTED
BUDGET	PRORATED BUDGET
THRU 1/31/18	ACTUAL
THRU 1/31/18	
VARIANCE	
REVENUES:					
MAINTENANCE ASSESSMENTS	$105 ,046	$94,302	$94,302	$0	
INTEREST	$50	$17	$11	($5)	
TRANSFER IN	$0	$0	$0	$0	
TOTAL REVENUES	$105,096	$94,318	$94,313	($5)1	

EXPENDITURES:					

AOMINISTRATIVE:					

SUPERVISOR FEES	$4,000	$1,333	$800	$533	
FICA EXPENSE	$306	$102	$46	$56	
ENGINEERING	$2, 200	$733	$350	$383	
TRUSTEE FEES	$2,050	$2,050	$2,020	$30	
DISSEMINATION	$3,500	$1,167	$833	$333	
ARBITRAGE	$600	$600	$600	$0	
ASSESSMENT ROLL	$5,000	$5,000	$5,000	$0	
ATTORNEY	$6,000	$2,000	$1,500	$500	
ANNUAL AUDIT	$3,405	$0	$0	$0	
MANAGEMENT FEES	$7, 244	$2,415	$2,415	($0)	
INFORMATION TECHNOLOGY	$1,000	$333	$333	$0	
TELEPHONE	$50	$17	$13	$4	
POSTAGE	$800	$267	$184	$83	
PRINTING & BINDING	$800	$267	$46	$220	
INSURANCE	$6,646	$6,646	$6,042	$604	
LEGAL ADVERTISING	$700	$233	$0	$233	
OTHER CURRENT CHARGES	$475	$158	$107	$51	
OFFICE SUPPLIES	$150	$50	$29	$21	
DUES, LICENSES & SUBSCRIPTIONS	$175	$175	$175	$0	
TOTAL ADMINISTRATIVE	 	$45,101	$23,546	$20,493		$3,053 I

MAINTENANCE:

RETENTION PONDS/OWL PRESERVE ORA	

$49,995	

$16,665	

$16,665	

($0)	
CONTINGENCIES	$10,000	$3,333	$2,136	$1,197	
TOTAL  MAINTENANCE	I	 	$ 59,995	$19,998	$18,801		$1,197 1	
TOTAL EXPENDITURES		$105,096	$43,544	$39,294	$4,250 1	
						
EXCESS REVENUES (EXPENDITURES)		$0		$55,019		
						
FUND BALANCE - BEGINNING	I		$0		$41,485		
						
FUND BALANCE - ENDING		$0		$96,504		
		
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Candler Hills East
Community Development District
Debt Service Fund Series 2016

	ADOPTED
BUDGET	PRORATED
THRU 1/31/18	ACTUAL
THRU 1/31/18	
VARIANCE	

REVENUES:					

ASSESSMENTS- TAX ROLL	
$234,100	$205,989	$205,989	$0	
PREPAYMENTS	$0	$0	$6,897	$6,897	
INTEREST	$100	$33	$209	$175	
TOTAL REVENUES	$234,200	$206,022	$213,094	s1,on 1	

EXPENDITURES:					
SERIES 2016					
INTEREST - 11/1	$55,606	$55,606	$55,800	($194)	
SPECIAL CALL - 11/1	$45,000	$45,000	$55,000	($10,000)	
PRl(IJCIPAL- 5/1	$125,000	$0	$0	$0	
INTEREST - 5/1	$55,606	$0	$0	$0	
SPECIAL CALL- 5/1	$0	$0	$0	$0	
	 	$281,213	$100,606	$110,800		($10,194)1	

OTHER SOURCES & USES			

INTER FUND TRANSFERS IN/(OUT)	$0	$0	$0	$0	
OTHER DEBT SERVICE COST	$0	$0	($2,280)	($2,280)	

For the Period Ended January 31, 2018

TOTAL EXPENDITURES	'
TOTAL OTHER SOURCES & USES			$0	$0		($2,280)	($2,280)1 EXCESS REVENUES (EXPENDITURES)	I	($47,013)		$100,014
FUND BALANCE - BEGINNING	I	$225,910	$361,627
FUND BALANCE - ENDING	I	$178,898	$461,641

3

Candler Hills East
Community Development District
Capital Reserves Fund
For the  Period Ended January 31, 2018

	ADOPTED
BUDGET	PRORATED
THRU 1/31/18	ACTUAL
THRU 1/31/18	
VARIANCE	

REVENUES:

INTEREST		

$400	

$133	

$780	

$647	
TOTAL REVENUES	I	 	$400	$133	$780		$647 I
EXPENDITURES:

CAPITAL OUTLAY	$0	$0	$0	$0
TOTAL EXPENDITURES	 	$0	$0	$0		$0 I
EXCESS REVENUES (EXPENDITURES)	I	$400	$780
FUND BALANCE - BEGINNING	I	$160,451	$160,459
FUND BALANCE - ENDING	I	$160,851	$161,239

4

Candler Hills East
COMMUNITY  DEVELOPMENT DISTRICT

GENERAL FUND
Month to Month Detail

REVENUES:

 	Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Total

MAINTENANCE ASSESSMENTS	$2,470	$19,889	$34,162	$37,781	$0	$0	$0	$0	$0	$0	$0	$0	$94,302	
INTEREST	$1	$1	$4	$5	$0	$0	$0	$0	$0	$0	$0	$0	$11	
TRANSFER IN	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
TOTAL REVENUES	I	$ 2,472	$19,890	$34,166	$37,785	$0	$0	$0	$0	$0	$0	$0	$0	$94,313 1	

EXPENDITURES:														

ADMINISTRATIVE:														

SUPERVISOR FEE	$0	$800	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$800	
FICA	$0	$46	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$46	
ENGINEER! NG	$350	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$350	
TRUSTEE FEES	$0	$0	$2,020	$0	$0	$0	$0	$0	$0	$0	$0	$0	$2,020	
DISSEMINATION	$208	$208	$208	$208	$0	$0	$0	$0	$0	$0	$0	$0	$833	
ARBITRAGE	$0	$0	$0	$600	$0	$0	$0	$0	$0	$0	$0	$0	$600	
ASSESSMENT ROLL	$5,000	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$5,000	
ATTORNEY	$0	$1,500	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$1,500	
ANNUAL AUDIT	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
MANAGEMENT FEES	$604	$604	$604	$604	$0	$0	$0	$0	$0	$0	$0	$0	$2,415	
INFORMATION TECHNOLOGY	$83	$83	$83	$83	$0	$0	$0	$0	$0	$0	$0	$0	$333	
TELEPHONE	$6	$0	$0	$7	$0	$0	$0	$0	$0	$0	$0	$0	$13	
POSTAGE	$30	$150	$3	$0	$0	$0	$0	$0	$0	$0	$0	$0	$184	
PRINTING & BINDING	$11	$0	$35	$0	$0	$0	$0	$0	$0	$0	$0	$0	$46	
INSURANCE	$6,042	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$6,042	
LEGAL ADVERTISING	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
OTHER CURRENT CHARGES	$27	$26	$27	$28	$0	$0	$0	$0	$0	$0	$0	$0	$107	
OFFICE SUPPLIES	$1	$0	$28	$0	$0	$0	$0	$0	$0	$0	$0	$0	$29	
DUES, LICENSES & SUBSCRIPTIONS	$175	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$175	
TOTAL ADMINISTRATIVE	I	512,537	$3, 418	$3,009	$1,530	$0	$0	$0	$0	$0	$0	$0	$0	$20,493 J	

MAINTENANCE:														
RETENTION PONDS/OWL PRESERVE DRA	$4,166	$4,166	$4,166	$4,166		$0	$0	$0	$0	$0	$0	$0	$0	$16,665	
CONTINGENCIES	$2,136	$0	$0	$0		$0	$0	$0	$0	$0	$0	$0	$0	$2,136	
TOTAL MAINTENANCE	I	$6,302	$4,166	$4,166	$4,166		$0	$0	$0	$0	$0	$0	$0	$0	
$18,8011	

TOTAL EXPENDITURES	I	
$18,839	
$7, 584	
$7,175	
$5,696		
$0	so	
$0	
$0	
$0	
$0	
$0	
$0	
$39,294}	
EXCESS REVENUES !EXPENDITURES)	I	
1$16 , 368 )	
$U,306	
$26,991	
$32,089		
$0	
$0	
$0	
$0	
$0	
$0	
$0	
$0	$55,019 J	
					
5										

Candler Hills East
Community Development District
LONG TERM DEBT REPORT

SERIES 2016, SPECIAL ASSESSMENT BONDS	
INTEREST RATE:	2.531%, 3.750%, 4.000%	
MATURITY DATE:	5/1/2037	
RESERVE FUND DEFINITION	50% of Maximum Annual Debt Service	
RESERVE FUND REQUIREMENT	$118,106	
RESERVE FUND BALANCE	$118,106	
BONDS OUTSTANDING -11/17/2016	$3,380,000	
LESS:PRINCIPAL PAYMENT 5/1/17 (Mandatory)	($55,000)	
LESS:PRINCIPAL PAYMENT 5/1/17 (Prepayment)	($55,000)	
LESS:PRINCIPAL PAYMENT 11/1/17 (Prepayment)	($55,000)	
CURREN T BONDS OUTSTANDING	$3,215,000	

6

CANDLER HILLS EAST
COMMUNITY DEVELOPMENT DISTRICT

SPECIAL ASSESSMENTS FV2018 RECEIPTS

MAINTENANCE

Gross Assessments $ 111,784.00 Certified  Net Assessments J	1os,076.96 .]

Date	
ACH	Gross Assessments
Received	Collection
Fee	Commissions
Paid	Interest
Income	Net Assessments
Received	
····!	··;···-·-[······!··········+··r······ .}! ·::! , r ·..	·!·t!I·l;· ·· ·· ·······j········ ··········H··:··:·::·:+1tt! :·
11/27/17	i	ACH	$	18,073.00    $	361.46  i $ ...	··r $	i $	17,711.54.
··· ·A2/li }Zi-·····-!-··  ·trn·········-t--·········?t ! J:··1-··············11i:!l·f·l-····...·...·.... ·_··Tt·····•···_····_·····i}·······2··:!!: ·
12/28/17	:	ACH	-  -$	7,860.48    $	157.21 ! $	! $	: $	. ..     7,703.2. 7
······· j j!·!················: ............ }    	! :   :! · } ······!·1··:;!·:···i-t·············-········l·; ···............-.... i..F······!  :! ::; ·
1/19/18	ACH	$	$	i $	i $	50.01 i $	50.01
........1/25/18 ......+··········· ............ ...........6., 716.   98   l.	. .....-134  3\·; ....................>··i·}	.........:.-........··:: .582.64
:	$	$	:$	!$	i $
············: ··························	· ····n	·····················	.....·.r  ·················· ····n  ····················rr·····.·.··.·..·...  ...·i ··r ····················	
::::::::::::::::::::::::::::::..............:::::::::::::::·s······················l·•···  s	·..·· 7... s···········..·.·..   : s ········..·	: -s - ..............
s	··s···············   ..., .	s	i·s·	............: s ...
------------·--·-············· - --- -----------------------  s	_	$	-	i s	-  i   s	_ _  	!_ s    	_ _   _
................ ..!..··.·..··•····················..s....   ..........- ... .s..................-...:...s...................-···+$  ········   ·······  ··· ·· ····· .. :.. s.........................	
Total Collected Percentage Collected	$	96,175.28	$	1,923.51	$	$	
50.01	$	94,301.78
90%	

100%

.

·

DEBT SERVICE

Gross Assessments  $	246,812.50 Cert ified Net Assessments !.s.........232,003.7.5 !
100%

Date	
ACH	Gross Assessments
Received	Collection
Fee	.	Commissions
Paid	Interest
Income	Net Assessments
Received	
'	''
......! j  j!....j...........:   ·.........·I;... .  !: !: ..; ..........··1!: :·i·;.................>i·}	...........:..}·--··.... '.   : i·
1ih f!17 -	;	ACH	$	36,307.69    $	726.15 : $	: $	-     ; $	35,581.54
.....r..te;···••!............; 	..............i........;..I :m:H···i···············•!ff:.!--I...........:.. ·.····i· i...............:...: . !{ 	:::::::t:::;··
1/11/18	!	ACH	$	23,231.83.     $	464.64  ! $	-     ! $	-	! $	22,767.19
..·..·.·.·.·.!1j/!25j/18:--------······:.-----.·----··----···A··:C--H··----------------·:· -·-$..........501, 45,505068.69--·s· ·$$._._-_-_-.·.·.·_-_-_-_-. l,0218101.123.--::;..$----------····---------------------------·.:·.-.- .-l.!:·. $·.... ·.-.--------·----1-09:23·:_-:$.;------··---1-·3··,-7-·2·649.5; 6:..
r	s	-	s	-	!s	-	!$	-   1s	..	- ·
!	S	S	!S	!$	!S	.......	.
;	s	s	; 			s	I s	; $_ ---------- ---··········--
.	=l	i···········:·-···i••··············•·:·  ....:•..• i  .......•·..·······.·.:.·.·.··.·.··.!· i ••··········:····.•.·.·.:·.1····	:    •••.
:	s	s	-  1s	-	,s _	-	:s	-	
Total Collected	$	210,081.37	$	4,201.63	$	$	109.23	$	205,988.97	
Percentage Collected					89%	

7

CANDLER HILLS EAST COMMUNITY DEVELOPMENT DISTRICT
$3,380,000
SPECIAL ASSESSMENT REVENUE REFUNDING BONDS SERIES 2016
ARBITRAGE REBATE REQUIREMENT OCTOBER 31, 2017

Grau & Associates
CERTIFIED  PUBLIC ACCOUNTANTS

2700 North Military Trail • Suite 350
Boca Raton, Florida 33431
(561) 994-9299 • (800) 299-4728
Fax (561} 994-5823
www.graucpa.com

December 19, 2017

Candler Hills East Community Development District Marion County, Florida

Re:	$3,380,000 Candler Hills East Community Development District (Marion County, Florida)
Special Assessment Revenue Refunding Bonds, Series 2016 (the "Bonds")

Candler Hills East Community Development District has requested that we prepare certain computations related to the above-described Bonds for the year ended October 31, 2017 ("Computation Period"). The engagement consisted of the preparation of computations to be used to assist in the determination of the amount, if any, of the Rebate Requirement for the Bonds for the Computation Period as described in Section 148(f) of the Internal Revenue Code of 1986, as amended ("Code"). You have the ultimate responsibiiity for your compliance with arbitrage rebate laws; therefore, you should review the calculations carefully.

In order to prepare these computations, we were provided with  the  following information: various trust statements and the Official Statement for the Bonds.  We did not verify or otherwise audit the accuracy of information provided to us by you or the Trustee, and accordingly, we express no opinion on such information. The attached schedules are based upon the aforementioned information provided to us. A brief description of the attached schedules is attached.

The results of our computations based on the information provided to us indicate a negative Rebate Requirement of ($4,402) for October 31, 2017. Consequently, our results indicate no amount must be on deposit in the Rebate Fund.

The Rebate Requirement has been determined as described in the Code and the Arbitrage Rebate Regulations. We have no obligation to update this report because of events occurring, or information coming to our attention, subsequent to the date of this report. It is understood that these calculations are solely for the information of, and assistance to, the addressee for the purpose of complying with the Code and the Arbitrage Rebate Regulations. Our report is not to be used for any other purpose.
P -ft,--
Grau & Associates

DESCRIPTION OF ATTACHED SCHEDULES

Summary of Rebate Calculations - Provides a summary of the rebate calculations.

Purpose ExpendituresFuture Value Report - Verifies the rebate calculation. The report future values the purpose expenditures by the arbitrage yield limit to the computation date (October 31, 2017).

Arbitrage Yield Limit ( A YL) Verification Report - Verifies the calculation of the arbitrage yield limit and the arbitrage gross proceeds. Discounts the debt service schedule by the arbitrage yield limit.

True Interest Cost (TIC) Verification Report - Verifies the calculation of the true interest cost and the gross proceeds. Discounts the debt service schedule by the true interest cost.

Unspent  Proceeds  Report - Verifies the amount of unspent proceeds.	Lists purpose expenditures in chronological order.

Internal Rate of Return (IRR) Report Via Purpose Expenditures - Verifies the internal rate of return for the investment portfolio. This report presents values the purpose expenditures by the internal rate of return to the delivery date.

Candler Hills East CDD
Series 2016 Special Assessment Revenue Refunding Summary of Rebate Calculations
$ 3,380,000.00

Dated: Delivered:

11/08/2016
11/08/2016

A nniversao• Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	05/01/2017	
Future-Value Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	10/31/2017	
Arbitrage Yield Umit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	3.6866888	
Total of Purpose Expendit11m. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$3,259,598.00	
Internal Rate of R.etum. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..	0.1488031	
90% of rebate liabi/iry. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..........	-$3,961.73	
Full rebate liability. . . . . . . . . . . . . . . . . . . . . . . . . . . . •. . . . . . . . . . . . . . . . . . . . .	-$4,401.92	

CANDLERHIL-2016- I FY: 1 I Mun-EaseElevaleMainDb f 16.95f EDBJ 12/19/2017I12:39 I Rpl22
Grau & Associates
Grau & Associc1tes CPAs

Page	1

Candler Hills East CDD	Dated:	11/08/2016	
Series 2016 Special Assessment Revenue Refunding	Delive,-ed:	11/08/2016	
Purpose Expenditures Future Value Report	F11t11re ValtttdTo:	10/31/2017
$ 3,380,000.00

Trausadio11
Date	Gro11p
ID	Ftmd ID	
Description	Flfture Valt1e Period,	Calculation A111t (Iut. Earnings)	
Pool%	FV
Factor	FV
Amot1nt	
11/8/2016	-1	COi	Beg. Arbitrage Gross Proceeds	1.9611111	-3,379,695.55	100.0000000	1.0364702	-3,502,953.67	
Jl/8/2016	2017		Transferred Funds	1.9611111	367,024.00	I 00.0000000	1.0364702	-380,409.43	
11/8/2016	2017		Payment to escrow	1.9611111	3,485,143.00	100.0000000	1.0364702	3,612,246.80	
11/8/2016	2017		Underwriter's Discount	1.9611111	67,600.00	100.0000000	1.0364702	70,065.38	
1J/17/2016	2017		COi	1.9111111	61,069.00	I00.0000000	1.0355240	63,238.42	
ll/30/2016	2017		COi	l.8388889	3,250.00	100.0000000	l.0341589	3,361.02	
12/2/2016	2017		Reserve	1.8277778	5.00	100.0000000	1.0339490	5.17	
12/6/2016	2017		COi	1.8055556	2,925.00	100.0000000	1.0335294	3,023.07	
1/4/2017	2017		Reserve	1.6500000	10.00	100.0000000	1.030S970	10.31	
2/2/2017	2017		Reserve	1.4944444	15.00	100,0000000	1.0276729	15.42	
3/2/2017	2017		Reserve	un1118	14.00	100.0000000	1.0245492	14.34	
4/4/2017	2017		Reserve	l.1500000	15.00	100.0000000	1.0212276	15.32	
5/2/2017	2017		Reserve	0.9944444	19.00	\00.0000000	1.0183301	19.35	
5/18/2017	2017		COI	0.9055556	6,456.00	100,0000000	1.0166781	6,563.67	
6/2/2017	2017		Reserve	0.8277778	20.00	100.0000000	1.0152347	20.30	
6/2/2017	2017		COi	0.8277778	1.00	100.0000000	1.0152347	1.02	
7/5/2017	2017		Reserve	0.6444444	20.00	100.0000000	1.0118407	20.24	
8/2/2017	2017		Reserve	0.4944444	20.00	100.0000000	1.0090722	20.18	
9/5/2017	2017		Reserve	0.3111111	20.00	100.0000000	1.0056988	20.11	
10/3/2017	2017		Reserve	0.1555556	20.00	100.0000000	1.0028454	20.06	
10/31/2017	-1		Unspent Proceeds as of 10/31/2017	0.0000000	120,281.00	100,0000000	l.0000000	120,281.00	
					183.45			-4,401.92	

	Arbitrage Yield Limit (AYL) . . . . . . . . . . . . . . .	3.6866888		
	Internal Rate of Return (/RR) ..............	0.1488031		
	Future Valued To.. . . . . . . . . . . . . . . . . . . . . . . .	10/31/2017		

CANDLERHIL-2016- I FY· 11Mun-EaseElevaleMainDb l 16.95fEDB l 12/19/2017 I 12:39 I Rpt15a

.

Grau & Associates

Grau & Associates CPAs

Page	1

Candler Hills East CDD	Dated:	11/08/2016
Series 2016 Special Assessment Revenue Refunding	Delivered:	11/08/2016
A.Y.L. Verification Report	FMS Bonds
MSRB J0/360SEM14/J
3,380,000.00
Coupon	Principal	Coupon		lnlemt		Cred. Enh./		Ptriodic	Present Va/11e		Discounted Period	Date	P, ymmt		Rate	Payment	Sinking Fund Adj	Debt Service		Fett/or	Debt Smiice

05/01/2017	55,000.00	2.000	54,861.42	109,86L42	0.9825979	107,949.60
2	11/01/2017	S6,531.25	56,531.25	0.9648131	54,S42.09
3	05/01/2018	12S,000.00	2.000	56,531.25	181,531.2S	0.9473S02	171,973.66
4	11/01/2018	55,281.25	55,281.25	0.9302033	51,422.80
5	05/01/2019	130,000.00	2.000	55,281.25	18S,281.25	0.9133668	169,229.75
6	11/01/2019	53,981.25	53,981.25	0.8968351	48,412.28
7	OS/Oi/2020	130,000.00	2.250	53,981.25	183,981.25	0.8806025	162,014.35
8	11/01/2020	52,518.75	52,518.75	0.8646638	45,411.06
9	05/01/2021	135,000.00	2.250	52,518.75	187,518.75	0.8490135	159,20S.96
10	11/01/2021	51,000.00	51,000.00	0.8336466	42,515.97
11	05/01/2022	13 5,000.00	2.250	51,000.00	186,000.00	0.8)85577	152,251.74
12	11/01/2022	49,481.25	49,481.25	0.8037420	39,770.16
13	05/01/2023	140,000.00	2.500	49,481.25	189,481.25	0.7891944	149,537.55
14	11/01/2023	47,731.25	47,731.25	0.7749102	36,987.43
JS	05/01/2024	14 5,000.00	2.750	47,731.25	192,731.25	0.7608844	146,646.21
16	ll/01/2024	45,737.50	45,737.50	0.7471126	34,171.06
17	05/01/2025	145,000.00	3.000	45,737.50	190,737.50	0.7335900	139,923.12
18	11/01/2025	43,562.50	43,562.50	0.7203122	31,378.60
19	05/01/2026	150,000.00	3.750	43,562.50	193,562.50	0.7072747	136,901.85
20	11/01/2026	40,750.00	40,750.00	0.6944731	28,299.78
21	05/01/2027	155,000.00	3.750	40,750.00	195,750.00	0.6819033	133,482.57
22	I J/01/2027	37,843.75	37,843.75	0.6695610	25,338.70
23	05/01/2028	160,000.00	3.750	37,843.75	197,843.75	0.6574421	130,070.80
24	1J/01/2028	34,843.75	34,843.75	0.6455425	22,493.12
25	05/01/2029	170,000.00	3.750	34,843.75	204,843.75	0.6338583	129,841.91
26	11/01/2029	31,656.25	31,656.25	0.6223856	19,702.39
27	05/0l/20JO	175,000.00	3.750	31,656.25	206,656.25	0.6111205	126,291.88
28	11/01/2030	28,375.00	28,375.00	0.6000594	17,026.68
29	05/01/2031	180,000.00	3.750	28,375.00	208,375.00	0.5891984	122,774.22
30	11/01/2031	25,000.00	25,000.00	O.S785340	14,463.35
31	05/01/2032	190,000.00	4.000	25,000.00	215,000.00	0.5680627	122,133.48
32	11/01/2032	21,200.00	21,200.00	0.5577809	11,824.95
33	05/01/2033	195,000.00	4.000	21,200.00	216,200.00	0.5476851	118,409.53
34	11/01/2033	17,300.00	17,300.00	0.5377721	9,303.46
35	05/01/2034	205,000.00	4.000	17,300.00	222,300.00	0.5280386	117,382.98
36	11/01/2034	13,20 0.00	13,200.00	0.5184812	6,843.95
37	05/01/2035	210,000.00	4.000	13,200.00	223,200.00	0.5090968	113,630.40
38	11/01/2035	9,000.00	9,000.00	0.4998822	4,498.94
39	05/01/2036	220,000.00	4.000	9,000.00·	229,000.00	0.490834S	112,401.09
40	11/01/2036	4,600.00	4,600.00	0.4819504	2,216.97
41	05/01/2037	230,000.00	4.000	4,600.00	234,600.00	0.4732272	111,019.11

CANDLERHIL-2016- I FY: 11 Mun-EaseElevateMainDb I 16.951 EDB I 12/19/2017 I 12:41. I Rpt01h

Grau & Associates
Grau & Associates CPAs

Page	1

Candler Hills East COD
Series 2016 Special Assessment Revenue Refunding
A.Y.L. Verification Report

Dated: Delivered: FMS BtmdJ'

11/08/2016
11/08/2016

3,3 80,000.00

MSRB 30/ 360 SEMI 4/ J

Period	Coupon Date	Prindpal
P(!Jmt11/	Co1tpo11
Rate	Intmst Paymmt	Cred. E11h. I
Sinking Fimd Atfj	Periodic
Debt Smite	Prmnt Value Fa,tor	Discounted
DebtStrvke	
3,380,000.00	1,494,048.92	0.00	4,874,048.92	3,379,695.50	

True Interest Cost (TIC). . . . . . . . . . .		3.9069069		Fa value of bond Issue. . .	$3,380,000 .00	
Net Interest Cost (NIC). . . . . . . . . . . . . . .	. . . .	3.8913340		Accrued interest (+). . . . . . . . . . . . . . . . ..		
Arbitrage Yield Limit (AYL) . . . . . . . . . . .	. . . .	3.6866888		Original issue premi11mldiscount (+). . . . . .	($304.45)	
Arbitrage Net Interest Cost (ANIC)	•.	. . .	3.7242250		Bond surety fee (-). . . . . . . . . . . . . . . . . . . . .	$0.00	

	Lump-sum credit enhancements (-). . . . . . . .	$0.00	
	Other AYL costs (-) . . . . . . . . . . . . . . . . . . . .		
	= AYL Target. . . . . . . . . . . . . . . . .	$3,379,695.55	

CANDLERHIL-20i6- I FY: 1 I Mun-EaseElevateMalnOb I 16.951EDB l 12119/2017 I 12:4.1 I Rpt01h
Grau  & Associates	
Grau & Associates CPAs	Pag e	2

Candler Hills East COD	I
MSRB JO/ 360 SEAfl 4/ J
Series .2016 Special Assessment Revenue Refunding	F!vIS Bonds
T.I.C. Verification Reoort
3,380,000.00	(Regular}	Dated:
D,li1Jerrd:	11/8/1016

11/8/ 2_016	
	Coupon	Prindpal	Co/fpon	Interest	Crtdit	Periodic	Present Value	DiICOf(Jlted	
Period	Date	Pt1J111enf	Rate	Payment	E11banm11ents	Debt Service	Fa,tor	DebtSmice	
	5/1/2017	55,000.00	2.000	54,861.42		109,861.42	0.9815780	107,837.55	
2	11/1/2017			56,531.25		56,531.25	0.9627707	54,426.63	
J	5/1/2018	125,000.00	2.000	56,531.25		181,531.25	0.9443238	171,424.27	
4	11/1/2018			55,281.25		55,281.25	0.9262303	51,203.17	
5	5/1/2019	130,000.00	2.000	55,281.25		185,281.25	0.908483S	168,324.96	
6	11/1/2019			53,981.25		53,981.25	0.8910767	48,101.44	
7	5/1/2020	130,000.00	2.250	53,981.25		183;981.25	0.8740035	160,800.25	
8	11/1/2020			52,518.75		52,518.75	0.8572S73	45,022.08	
9	5/1/2021	135,000.00	2.250	52,518.75		187,518.75	0.8408321	157,671.78	
10	11/1/2021			51,000.00		51,000.00	0.8247215	42,060.80	
11	5/1/2022	135,000.00	2.250	51,000.00		186,000.00	0.8089197	1.50,459.06	
12	11/1/2022			49,481.25		49,481.25	0.7934206	39,259.44	
13	5/1/2023	140,000.00	2.500	49,481.25		1&9,481.2S	0.7782184	147,457.80	
14	11/1/2023			47,731.25		47,731.2S	0.7633076	36,433.62	
IS	5/1/2024	145,000.00	2.750	47,731.25		192,731.25	0.7486824	144,294.50	
16	11/1/2024			45,737.50		45,737.50	0.7343375	33,586.76	
17	511/2025	145,000.00	3.000	45,737.50		190;737.50	0.7202674	137,382.QO	
18	11/1/202S			43,562.50		43,S62.SO	0.7064669	30,77S.46	
19	5/1/2026	1S0,000.00	3.7S0	43,562.50		193,562.S0	0.6929308	134,125.42	
20	11/1/2026			40,750,00		40,750.00	0.6796541	27,695.90	
21	5/1/2027	155,000.00	3.750	40,750.00		19S,750.00	0.6666317	130,493.16	
22	11/1/2027			37,843.75		37,843.75	0.6538589	24,744.47	
23	5/1/2028	160,000.00	3.750	37,843.75		197,843.75	0.6413308	126,883.29	
24	11/1/2028			34,843.75		34,843.75	0.6290427	21,918.21	
25	5/1/2029	170,000.00	3.750	34,843.75		204,843.75	0.6169901	126,386.57	
26	11/1/2029			31,656.25		31,656.25	0.6051684	19,157.36	
27	5/112030	175,000.00	3.750	31,656.25		206,656.25	O.S935733	122,665.63	
28	11/1/2030			28,375.00		28,375.00	0.5822003	16,519.93	
29	5/112031	180,000.00	3.750	28,375.00		208,375.00	0.S710452	118,991.53	
30	1111/2031			25,000.00		25,000.00	0.5601038	14,002.59	
31	S/1/2032	190,000.00	4.000	25,000.00		215,000.00	0.S493721	118,114.99	
32	11/1/2032			21,200.00		21,200.00	05388460	11,423.53	
33	5/1/2033	195,000.00	4.000	il,200.00		216,200.00	0.528521S	114,266.36	
34	11/1/2033			17, 300.00		17,300.00	0.5183949	8,968.23	
35	S/1/2034	205,000.00	4.000	17,30().00		222,300.00	0.5084624	113,031 18	
36	11/1/2034			13,200.00		13,200.00	0.4987201	6,583.11	
37	5/1/2035	210,000.00	4.000	13,200.00		223,200.00	0.4891645	109,181.51	
38	11/1/2035			9,000.00		9,000.00	0.4797920	4,318.13	
39	5/1/2036	220,000.00	4.000	9,000.00		229,000.00	0.4705990	107,767.18	
40	11/1/2036			4,600.00		4,600.00	0.4615823	2,123.28	
41	5/1/2037	230,000.00	4.000	4,600.00		234,600.00	0.4527382	106,212.39	
CANDLERHIL-2016- I  FY: 11Mun.fas_eElevateMalhDbI16.95f EDB I12/19/2017 I 12:41 I Rpt01a
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Grau & Associates CPAs

Candler Hills East CDD
Series JO 16 Special Assessment Revenue Refunding

2
MSRB  30/ 360 SEi'AJ 4/ 3
FMS&111/,

T.I.C. Verification Reoort (Regular)

Period	Coupon Date	Pnntipal
pOJ'llltnl	Co"po11 Rate	l11terest
Paymml	Credit Enhanm11tnls	Periodif
Debi Strvke	Present Value Factor	Discormted DebtSenlite	
			J,380,000.00		1,494,048.92	0.00	4,874,048.92		3,112,095.53	
True Interest Cost (TIC) . . . . . . . . . . . . . . . . . .. . .	3.9069069	Face value ofbo11d Issue. . . •. . . . . . •. . . . .	$3,380,000.00	
Net Interest Cost (NJC). . . . . . . . .•	. . . . .• . . . .	3.8913340	Accrued interest(+) . . . . . . . . . . . . . . . . . . .		

3,380,000.00

Dated: Dtli rtd:

11/8/2016

11/8/2016

Arbitrage Yield Limit (AYL) . . . . . . . . . . . . . . . . . .
Arbitrage Net Interest Cost (ANIC)

3.6866888

Original issue premium/discount(+) . . . . . .	($304.45)	
Underwriter discoullt (+) . . . . . . . . . . . . . . .	($67,600.00)	
Lump-s11m credit enhancements (-) . . . . . . . _	$0.00	
Other TIC costs (·) . . . . . . . . . . .. . . . . . . . .		
Bond surety fee (·). . . . . . . . . . . . . ......	N/A	
= TIC Target . . . . . . . . . . . . . . . .	$3,312,095.55	

3.7242250

CANDLERHIL-2016- I  FY: 11 Mun-EaseEtevateMainDbI 16.95fEDB I 12/19/2017I12:41I Rpt01a
Grau & Associates	Page	2
Grau & Associates CPAs

Candler Hills East COD	Dated:	11/08/2016
Series JO16 Special Assessment Revenue Refunding	Delivered:	11/08/2016
Unspent Proceeds Report
$ 3,380,000.00

Cak Date	Grp
ID	
Pn,p	Ftmd
ID	
Deuription	Gross An,oHnl	Pool
Perren/age	Nonp111pose Invesh11ent	PH,pose Expenditt.ms	U11pe11I
Proceeds	
11/08/2016	-1	N	COI	Beg. Arbitrage Gross Proceeds		100.0000000			3,379,695.55	
11/08/2016	2017	y		Transferred Fwids	-367,024.00	100.0000000		-367.024.00	3,746,719.55	
11/08/2016	2017	y		Payment lo escrow	3,4851,43.00	I00.0000000		3,485,143.00	261,576.55	
11/08/2016	2017	y		Uodel'Writer's DiscoWII	,67 600.00	100.0000000		67,600.00	193,976.55	

11/17/2016	2017	y		
COi	61,069.00	100.0000000		
61,069.00	
132,907.55	

11/30/2016	2017	
y		
COi	3,250.00	100.0000000		
3,250.00	
129,657.55	
12102/2016	2017	y		Reserve	S.00	100.0000000		5 .00	129,651.55	

12/06/2016	
2017	y		
COi	2,925.00	
100.0000000		
l, 925.00	
126,727.55	

01/04/2017	
2017	y		Reserve	10.00	
100.0000000		
10.00	
126,717.55	

02/02/2017	
2017	y		Reserve	15.00	I00.0000000		
!5.00	
126,702.55	

03/02/2017	
2017	y		
Reserve	
14.00	100.0000000		
14.00	
126,688.SS	

04/04/2017	
2017	y		
Reserve	15.00	100.0000000		
15.00	
126,673.55	

05/02/2017	2017	y		Reserve	19.00	100.0000000		
19.00	
126,654.55	

05/18/2017	
2017	y		
COi	6,456.00	I00.0000000		
6,456.00	
120,198.55	

06/02/2017	
2017	y		
Reserve	
20.00	
100.0000000		
20.00	
120,178.SS	
06/02/2017	2017	y		COi	1.00	100.0000000		1.00	120,177.55	

07/0S/2017	
2017	y		Reserve	20.00	I 00.0000000		
20.00	
120,157.55	

08/02/2017	
2017	y		
Reserve	20.00	
100.0000000		
20.00	
120,137.55	

09/05/2017	
2017	y		Reserve	20.00	100.0000000		
20.00	
120,117.SS	

10/0.3/2017	
2017	y		
Reserve	20.00	100.0000000		
20.00	
120,097.SS	
					3,259,598.00		0.00	3,2S9,598.00		

First Investment Date. •.•••.. ,• . . . • • . • . •• . . • ••	11/8/2016	
Calculation Date •• •• • • • • •• ••. . . . . • • . . • • • • •. •	10/31/2017	
Arbitrage Yield Limit (AYL). • • • • • • • . • • • . • . • • • • •	3.6866888	
Internal Rate of Return (IRR). . . , . . . . . . . . . . . . . .	0.1488031	

CANDLERHIL-2016- I FY: 1IMun-EaseElevateMalnDb I 16.95f EDB I 12/19/2017 I 12:39 I Rpt11
Grau & Associates	
Grau & Associates CPAs	Page	1

Candler Hills East COD
Series 20 16 Special Assessment Revenue Refunding
I.R.R. Report Via Purpose Expenditures
$ 3,380,000.00

Dated: Delivered:

11/08/2016
11/08/2016

	G,p
ID	Trani Dale	F11nd
ID	

Demiplion	DayC01111I
Far/or	Calm/a/ion Amt
(Intemt Earnings)	Pool P,tg	** Internal PVFa,tor	Rate of Rtt11rn **
PVAml	
	-1	11/08/2016		Beg. Arbitrage Gross Proceeds	0.0000000	(3,379,69.5SS)	100.000	1.0000000	(3,379,695.55)	
	2017	11/08/2016		Payment to escrow	0.0000000	3,485,143.00	100.000	1.0000000	3,485,14.300	
		11/08/2016		Underwriter's Discount	0.0000000	67,600.00	100.000	1.0000000	67,600.00	
		11108/2016		Transferred Funds	0.0000000	(367,024.00)	100.000	l.0000000	(367,024.00)	
		11/17/2016		COi	0.0500000	61,069.00	100.000	0.9999628	61,066.73	
		11/30/2016		COi	0.1222222	3;2so.oo	100.000	0.9999091	3,249.70	
		12102/2016		Reserve	0.1333333	5.00	100.000	0.9999008	5.00	
		12/06/2016		COi	0.ISSSSS6	2,925.00	100.000	0.9998843	2,924.66	
		01/04/2017		Reserve	0.3111111	10.00	100.000	0.9997686	10.00	
		02/02/2017		Reserve	0.4666667	15.00	100.000	0.9996530	14.99	
		03/02/2017		Reseive	0.6333333	14.00	100.000	0.9995291	13.99	
		04/04/2017		Reseive	0.8111111	15.00	l OCi. 000	0.9993969	14.99	
		OS/02/2017		Reseive	0.9666667	19.00	100.000	0.9992813	18.99	
		OS/18/2017		COi	l.0S5SSS6	6,456.00	100.000	0.99921S3	6,450.93	
		06/02/2017		COi	1.1333333	1.00	100.000	0.9991S7S	1.00	
		06102/2017		Reserve	1.1333333	20.00	100.000	0.9991S75	19.98	
		07/05/2017		Reserve	1.3166667	20.00	l0 0.000	0.9990212	19.98	
		08/02/2017		Reserve	1.4666667	20.00	100.000	0.9989098	19.98	
		09/05/2017		Reserve	1.6500000	20.00	100.000	0.9987736	19.98	
		10/03/2017		Reseive	l.805S5S6	20.00	100.000	0.9986580	19.97	
	99999	10/31/2017		Unspent Proceeds as of 10/31/2017	l.9611111	120,281.00	100.000	0.9985425	120,105.69	
						183. 5			0.02	

Arbitrage  Yield Limit . . . . . . . . . . . . . . . .	3.6866888
Internal Rate o/Retum• . • ••  . • . • . . . . .	0.1488031
Ca/culatio11 Standard • • . • . . . • •• •• . • . •	MSRB   301360 SEMI 4/3

CANDLERHIL-2016- I FY: 1 I Mun-EaseElevateMalnDb I 16.1!5f EDB 112/19/2017 I 12:39 I Rptl)9c
Grau & Associates	Page	1
Grau & Associates CPAs