CORDOVA PALMS
Community Development District
JUNE 14, 2023

AGENDA

Cordova Palms Community Development District 475 West Town Place, Suite 114
St. Augustine, Florida 32092 www.CordovaPalmsCDD.com

June 7, 2023

Board of Supervisors
Cordova Palms Community Development District
Call in #: 1-877-304-9269 Code: 410226

Dear Board Members:

The Cordova Palms Community Development District Meeting is scheduled to be held Wednesday, June 14, 2023 at 10:00 a.m. at the offices of Governmental Management Services, LLC, 475 West Town Place, Suite 114, St. Augustine, Florida 32092.
Following is the agenda for the meeting:

Call to Order

Public Comment

Approval of Minutes of the May 10, 2023 Meeting

Consideration of Proposals for Landscape Maintenance Services

Discussion of the Fiscal Year 2024 Budget

Staff Reports
District Counsel

District Engineer – Approval of Requisition Summary

District Manager

Financial Reports
Financial Statements as of April 30, 2023

Check Register

Supervisor Requests and Audience Comments

Next Scheduled Meeting – July 12, 2023 at 10:00 a.m. at the offices of Governmental Management Services, LLC, 475 W. Town Place, Suite 114, St. Augustine, Florida 32092

Adjournment

MINUTES

MINUTES OF MEETING
CORDOVA PALMS COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Cordova Palms Community Development District was held on Wednesday, May 10, 2023 at 10:00 a.m. at the offices of Governmental Management Services, LLC, 475 West Town Place, Suite 114, St. Augustine, Florida 32092.

Present and constituting a quorum were:

Louis Cowling	Chairman
Joyce Conway	Supervisor
Thomas Spiess	Supervisor

Also present were:

Daniel Laughlin	District Manager
Wes Haber	District Counsel (by phone)
Scott Wild	District Engineer (by phone)

The following is a summary of the discussions and actions taken at the May 10, 2023 meeting.

FIRST ORDER OF BUSINESS	Roll Call
Mr. Laughlin called the meeting to order at 10:00 a.m.

SECOND ORDER OF BUSINESS	Public Comment
There being no members of the public present, the next item followed.

THIRD ORDER OF BUSINESS	Approval of Minutes of the April 12, 2023
Meeting
There were no comments on the minutes.

On MOTION by Mr. Cowling seconded by Ms. Conway with all in favor the minutes of the April 12, 2023 meeting were approved.

FOURTH ORDER OF BUSINESS	Consideration of Proposals for Landscape
Maintenance Services

May 10, 2023	Cordova Palms CDD

Mr. Laughlin informed the Board five proposals for landscape maintenance services were received from United Land Services, Yellowstone, BrightView, VerdeGo and Greenpoint.
Mr. Cowling provided an overview of the proposals stating that the United Land Services proposal was incomplete as they did not include pricing information for Phase 2. He narrowed the proposals down to BrightView and Greenpoint and stated that he’d like to review the whole property with both proposers before a final selection is made at the next meeting.

On MOTION by Mr. Cowling seconded by Mr. Spiess with all in favor rejecting the proposals from Yellowstone, United Land Services and VerdeGo and authorizing further negotiation with BrightView and Greenpoint was approved.

FIFTH ORDER OF BUSINESS	Consideration	of	Resolution	2023-03,
Approving a Proposed Budget for Fiscal Year 2024 and Setting a Public Hearing Date for Adoption
Mr. Laughlin provided an overview of the budget, noting there is an overall increase in costs, with one of the larger increases being the trustee fees due to the new bond issuances. The increase in per unit assessments comes to a total of $454.32.
Mr. Cowling stated that the pond bank landscape line item could be combined with the landscape maintenance line item and the total of the two would fall in line with what BrightView and Greenpoint have proposed.
Mr. Laughlin asked if lake maintenance would be needed in Fiscal Year 2024. Mr. Cowling responded that they do want to start pond maintenance.

On MOTION by Mr. Cowling seconded by Mr. Spiess with all in favor Resolution 2023-03, approving a proposed budget for Fiscal Year 2024 and setting a public hearing for August 9, 2023 was approved.

SIXTH ORDER OF BUSINESS	Consideration	of	Resolution	2023-04,
Extending the Terms of Office of All Current Supervisors to Coincide with the General Election

May 10, 2023	Cordova Palms CDD

Mr. Haber informed the Board that when the threshold is met for residents to start participating in District elections, they can only be held on even years. Because this district was created in an odd year and held its first landowner election in an odd year, the current trend would be for elections to take place in odd years, which would not work for purposes of the general elections with the Supervisor of Elections. This resolution would extend the terms of each supervisor for one additional year to end in an even year to be on track to use the general election when that point is reached.

On MOTION by Mr. Cowling seconded by Ms. Conway with all in favor Resolution 2023-04, extending the terms of the office of all current supervisors to coincide with the general election was approved.

SEVENTH ORDER OF BUSINESS	Staff Reports
District Counsel
Mr. Haber informed the Board that the most recent legislative session has ended and there are several bills that his firm is reviewing. The most significant in terms of impact on board members is a bill that requires board members of special districts to undergo ethics training.

District Engineer – Approval of Requisition Summary
Mr. Wild provided the Board with a brief overview of the requisition summary, which includes requisition numbers 48-58 for the Series 2022-1 Bonds and requisition number 26 for the Series 2022-2 Bonds, together totaling $816,176.57.

On MOTION by Mr. Cowling seconded by Mr. Spiess with all in favor the requisition summary was approved.

District Manager – Report on the Number of Registered Voters (0)
Mr. Laughlin informed the Board there are zero registered voters residing in the District as reported by the St. Johns County Supervisor of Elections.

EIGHTH ORDER OF BUSINESS	Financial Statements as of March 31, 2023

May 10, 2023	Cordova Palms CDD

Copies of the financial statements were included in the agenda package for the board’s
review.

NINTH ORDER OF BUSINESS	Supervisor	Requests	and	Audience
Comments
There being none, the next item followed.

TENTH ORDER OF BUSINESS	Next Scheduled Meeting – June 14, 2023 at
10:00 a.m. at the offices of Governmental Management Services, LLC, 475 West Town Place, Suite 114, St. Augustine, Florida 32092
The Board discussed possibly changing the meeting schedule for the next fiscal year.

ELEVENTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Spiess seconded by Ms. Conway with all in favor the meeting was adjourned

Secretary/Assistant Secretary	Chairman/Vice Chairman

FIFTH ORDER OF BUSINESS

Cordova Palms
Community Development District

Approved Budget
FY 2024

Cordova Palms
Community Development District

TABLE OF CONTENTS

General Fund
Budget	Page 1-2
Narrative	Page 3-5

SE 2021 Debt Service Fund
Summary of Revenues and Expenses	Page 6
Amortization Schedule	Page 7-8

SE 2022-1 Debt Service Fund
Summary of Revenues and Expenses	Page 9
Amortization Schedule	Page 10

SE 2022-2 Debt Service Fund
Summary of Revenues and Expenses	Page 11
Amortization Schedule	Page 12

Cordova Palms
Community Development District

			

			
FICA Expense	$	918	$	

General Fund

Description	Adopted
Budget FY 2023	Actuals
as of 4/30/23	Projected
Next 5 Months	Total
Projected 9/30/23	Approved
Budget FY 2024	

Revenues						
Special Assessments	$  333,018	$	333,018	$	-	$	333,018	$	333,018	
Total Revenues	$ 333,018	$	333,018	$	-	$  333,018	$	333,018	

Expenditures

Administrative
Supervisors Fees	$	12,000	$	-	$	5,000	

$	5,000	

$	12,000	
-	$	383	$	383	$	918	
Engineering	$	11,600	$	4,350	$	6,650	$	11,000	$	11,600	
Arbitrage	$	1,200	$	-	$	1,800	$	1,800	$	1,800	
Attorney	$	25,000	$	6,027	$	8,973	$	15,000	$	25,000	
Annual Audit	$	3,400	$	-	$	3,400	$	3,400	$	3,500	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	$	5,300	
Trustee Fees	$	5,000	$	5,675	$	6,500	$	12,175	$	12,500	
Dissemination	$	5,000	$	4,375	$	3,125	$	7,500	$	7,950	
Management Fees	$	47,250	$	27,563	$	19,688	$	47,250	$	50,085	
Website Maintenance	$	1,500	$	875	$	625	$	1,500	$	1,590	
Information Technology	$	2,250	$	1,313	$	938	$	2,250	$	2,385	
Telephone	$	500	$	56	$	444	$	500	$	500	
Postage	$	1,500	$	111	$	1,189	$	1,300	$	1,500	
Insurance	$	5,625	$	5,375	$	-	$	5,375	$	5,913	
Printing & Binding	$	2,000	$	158	$	1,342	$	1,500	$	1,500	
Legal Advertising	$	2,000	$	532	$	1,468	$	2,000	$	2,000	
Other Current Charges	$	600	$	106	$	494	$	600	$	600	
Office Supplies	$	500	$	8	$	492	$	500	$	500	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$ 133,018	$	61,697	$	62,511	$  124,208	$	147,316	
Grounds Maintenance					
Landscape - Maintenance	$	80,000	$	-	$	-	$	-	$	120,000	
Landscape - Contingency	$	5,000	$	-	$	-	$	-	$	5,000	
Landscape - Pond Banks	$	40,000	$	-	$	-	$	-	$	-	
Lake Maintenance	$	10,000	$	-	$	-	$	-	$	10,000	
Electric	$	3,000	$	-	$	-	$	-	$	3,268	
Water/Sewer/Irrigation	$	30,000	$	-	$	-	$	-	$	20,434	
Repairs & Maintenance	$	10,000	$	-	$	-	$	-	$	15,000	
Irrigation Repairs	$	10,000	$	-	$	-	$	-	$	10,000	

1

Cordova Palms
Community Development District
General Fund

	Adopted
Budget	Actuals
as of	Projected
Next 5	Total
Projected	Approved
Budget	
Description	FY 2023	4/30/23	Months	9/30/23	FY 2024	

Pest Control	
$	2,000	
$	-	
$	-	
$	-	$	2,000	
Other Repairs and Maintenance	$	10,000	$	-	$	-	$	-	$	-	
Total Grounds Maintenance	$ 200,000	$	-	$	-	$	-	$	185,702	
					
Total Expenditures	$ 333,018	$	61,697	$	62,511	$  124,208	$	333,018	

Excess Revenues (Expenditures)

$	-	$

271,321

$ (62,510.73)

$  208,811	$	-

Assessments per unit for FY 2024
Lot
Size	Unit
Count	Net Per
Unit	Net
Assessments	
43' SF	221	$	454.32	$	100,405	
53' SF	116	$	454.32	$	52,701	
Bulk			$	179,912	
Total Net Assessments			$	333,018	

2

Cordova Palms
Community Development District
General Fund Budget FY 2024

REVENUES:

Special Assessments

The District will levy a non ad-valorem special assessment on all taxable property within the District to fund all of the General Operating Expenditures for the fiscal year. The assessment may either be invoiced directly to the property owner or placed on the St. Johns County Tax Roll. Developer will fund the remaining assessments for O&M portion.

EXPENDITURES:

Administrative:

Supervisors Fees

The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year. The amount for the fiscal year is based upon five supervisors attending the estimated 12 annual meetings.

FICA Expense

These expenses represent the Employer's share of Social Security and Medicare taxes withheld from the Board of Supervisors checks.
Engineering

The District's engineering firm will be providing general engineering services to the District including attendance and preparation for monthly board meetings, review invoices, etc. England, Thims & Miller serves as the District’s engineering firm.

Arbitrage

The District is required to annually have an arbitrage rebate calculation on the District’s Series 2021, 2022- 1, and 2022-2 Bonds. Grau and Associates, CPAs, serves as the District’s independent certified public accounting firm to calculate the rebate liability and submit reports to the District.

Attorney

The District's legal counsel will be providing general legal services to the District including attendance and preparation for monthly meetings, review operating and maintenance contracts, etc. Kutak Rock LLP serves as the District’s legal counsel.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. Grau and Associates currently serves as the District’s Independent Auditor.

Assessment Administration

Governmental Management Services, LLC serves as the District’s collection agent and certifies the District’s non-ad valorem assessments with the county tax collector.

Cordova Palms
Community Development District
General Fund Budget FY 2024

Trustee Fees

The amount of the trustee fees is based on the agreement between The Bank of New York Mellon and the District for the Special Assessment Bond Series 2021, 2022-1, and 2022-2.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements the District’s Special Assessment Bond Series 2021, 2022-1, and 2022-2. It has contracted with Governmental Management Services, LLC to provide this service.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. These services are further outlined in Exhibit "A" of the Management Agreement.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Telephone

The cost of telephone and fax machine service.

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District's General Liability & Public Officials Liability Insurance policy is with Florida Property Alliance Preferred (FPA). FPA specializes in providing insurance coverage to governmental agencies.

Printing & Binding

Printing and binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, and etc. in a newspaper of general circulation.

Cordova Palms
Community Development District
General Fund Budget FY 2024

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Grounds Maintenance:

Landscape Maintenance

Estimated costs related to maintain the common areas of the District.

Landscape Contingency

Estimated costs for other landscape maintenance incurred by the District.

Lake Maintenance

Estimated costs to maintain ponds throughout the District.

Electric

Estimated costs for electric billed to the District by Clay County Electric.

Water/Sewer/Irrigation

Estimated costs for irrigation by the district for water, sewer and irrigation.

Repairs and Maintenance

Any costs related to miscellaneous repairs and maintenance that occur during the fiscal year.

Irrigation Repairs

Estimated miscellaneous irrigation maintenance and repair costs.

Pest Control

Estimated costs for pest control service incurred by the District.

Cordova Palms
Community Development District
Debt Service Fund Series 2021

	Adopted
Budget	Actuals
as of	Projected
Next 5	Total
Projected	Approved
Budget	
Description	FY 2023	4/30/23	Months	9/30/23	FY 2024	

Revenues						
Special Assessments	$	438,700	$	438,700	$	-	$	438,700	$	438,700	
Interest Income	$	500	$	7,240	$	2,000	$	9,240	$	2,000	
Carry Forward Surplus	$	136,374	$	137,098	$	-	$	137,098	$	147,878	
Total Revenues	$	575,574	$	583,038	$	2,000	$	585,038	$	588,577	

Expenditures						
Series 2021
Interest Expense 11/1	
$	136,080	
$	136,080	
$	-	
$	136,080	
$	134,100	
Principal Expense 5/1	$	165,000	$	-	$  165,000	$	165,000	$	170,000	
Interest Expense 5/1	$	136,080	$	-	$  136,080	$	136,080	$	134,100	
Total Expenditures	$	437,160	$	136,080	$ 301,080	$	437,160	$	438,200	
						
Excess Revenues/(Expenditures)	$	138,414	$	446,958	$ (299,080)	$	147,878	$	150,377	

11/1/24 Interest Payment

Assessments per unit for FY 202	
$

4	
132,060	
Lot	Unit	Net Per	Net	
Size	Count	Unit	Assessments	
43' SF	137	$1,160	$158,894	
53' SF	193	$1,450	$279,806	
Total	330			
Net Annual Assessment			$438,700	

Cordova Palms
Community Development District Special Assessment Revenue Bonds, Series 2021

Period		Interest		Debt	Annual Debt	Bond	
Ending	Principal	Rate	Interest	Service	Service	Balance	

11/1/23		2.4%	$134,100	$134,100	$438,200		
5/1/24	$170,000	2.4%	$134,100	$304,100		$7,645,000	
11/1/24		2.4%	$132,060	$132,060	$439,120		
5/1/25	$175,000	2.4%	$132,060	$307,060		$7,470,000	
11/1/25		2.4%	$129,960	$129,960	$439,920		
5/1/26	$180,000	2.4%	$129,960	$309,960		$7,290,000	
11/1/26		2.4%	$127,800	$127,800	$440,600		
5/1/27	$185,000	2.8%	$127,800	$312,800		$7,105,000	
11/1/27		2.8%	$125,210	$125,210	$440,420		
5/1/28	$190,000	2.8%	$125,210	$315,210		$6,915,000	
11/1/28		2.8%	$122,550	$122,550	$440,100		
5/1/29	$195,000	2.8%	$122,550	$317,550		$6,720,000	
11/1/29		2.8%	$119,820	$119,820	$439,640		
5/1/30	$200,000	2.8%	$119,820	$319,820		$6,520,000	
11/1/30		2.8%	$117,020	$117,020	$439,040		
5/1/31	$205,000	2.8%	$117,020	$322,020		$6,315,000	
11/1/31		2.8%	$114,150	$114,150	$438,300		
5/1/32	$210,000	3.0%	$114,150	$324,150		$6,105,000	
11/1/32		3.0%	$111,000	$111,000	$442,000		
5/1/33	$220,000	3.0%	$111,000	$331,000		$5,885,000	
11/1/33		3.0%	$107,700	$107,700	$440,400		
5/1/34	$225,000	3.0%	$107,700	$332,700		$5,660,000	
11/1/34		3.0%	$104,325	$104,325	$438,650		
5/1/35	$230,000	3.0%	$104,325	$334,325		$5,430,000	
11/1/35		3.0%	$100,875	$100,875	$441,750		
5/1/36	$240,000	3.0%	$100,875	$340,875		$5,190,000	
11/1/36		3.0%	$97,275	$97,275	$439,550		
5/1/37	$245,000	3.0%	$97,275	$342,275		$4,945,000	
11/1/37		3.0%	$93,600	$93,600	$442,200		
5/1/38	$255,000	3.0%	$93,600	$348,600		$4,690,000	
11/1/38		3.0%	$89,775	$89,775	$439,550		
5/1/39	$260,000	3.0%	$89,775	$349,775		$4,430,000	
11/1/39		3.0%	$85,875	$85,875	$441,750		
5/1/40	$270,000	3.0%	$85,875	$355,875		$4,160,000	
11/1/40		3.0%	$81,825	$81,825	$438,650		
5/1/41	$275,000	3.0%	$81,825	$356,825		$3,885,000	
11/1/41		3.0%	$77,700	$77,700	$440,400		
5/1/42	$285,000	4.0%	$77,700	$362,700		$3,600,000	
11/1/42		4.0%	$72,000	$72,000	$444,000		
5/1/43	$300,000	4.0%	$72,000	$372,000		$3,300,000	
11/1/43		4.0%	$66,000	$66,000	$442,000		
5/1/44	$310,000	4.0%	$66,000	$376,000		$2,990,000	
11/1/44		4.0%	$59,800	$59,800	$444,600		
5/1/45	$325,000	4.0%	$59,800	$384,800		$2,665,000	
11/1/45		4.0%	$53,300	$53,300	$441,600		
5/1/46	$335,000	4.0%	$53,300	$388,300		$2,330,000	
11/1/46		4.0%	$46,600	$46,600	$443,200		
5/1/47	$350,000	4.0%	$46,600	$396,600		$1,980,000	
11/1/47		4.0%	$39,600	$39,600	$444,200		
5/1/48	$365,000	4.0%	$39,600	$404,600		$1,615,000	

Cordova Palms
Community Development District Special Assessment Revenue Bonds, Series 2021

Period
Ending	
Principal	Interest
Rate	
Interest	Debt
Service	Annual Debt
Service	Bond
Balance	
							
11/1/48		4.0%	$32,300	$32,300	$444,600		
5/1/49	$380,000	4.0%	$32,300	$412,300		$1,235,000	
11/1/49		4.0%	$24,700	$24,700	$444,400		
5/1/50	$395,000	4.0%	$24,700	$419,700		$840,000	
11/1/50		4.0%	$16,800	$16,800	$443,600		
5/1/51	$410,000	4.0%	$16,800	$426,800		$430,000	
11/1/51		4.0%	$8,600	$8,600	$447,200		
5/1/52	$430,000	4.0%	$8,600	$438,600			
	$7,815,000		$4,984,640	$12,799,640	$12,799,640		

Cordova Palms
Community Development District
Debt Service Fund Series 2022-1

	Adopted
Budget	Actuals
as of	Projected
Next 5	Total
Projected	Approved
Budget	
Description	FY 2023	4/30/23	Months	9/30/23	FY 2024	

Revenues						
Special Assessments*	$	-	$	-	$	-	$	-	$	165,000	
Interest Income	$	200	$	4,378	$	1,000	$	5,378	$	2,000	
Carry Forward Surplus	$	175,201	$	171,013	$	-	$	171,013	$	71,688	
Total Revenues	$	175,401	$	175,392	$	1,000	$	176,392	$	238,688	

Expenditures						
Series 2022-1
Interest Expense 11/1	
$	38,806	
$	38,806	
$	-	
$	38,806	
$	65,898	
Principal Expense 5/1	$	-	$	-	$	-	$	-	$	30,000	
Interest Expense 5/1	$	65,898	$	-	$	65,898	$	65,898	$	65,898	
Total Expenditures	$	104,704	$	38,806	$	65,898	$	104,704	$	161,795	
						
Excess Revenues/(Expenditures)	$	70,698	$	136,585	$  (64,898)	$	71,688	$	76,893	

11/1/24 Interest Payment	
$	
65,178	

*SERIES 2022 BONDS ARE UNDER CAPITALIZED INTEREST UNTIL 11/1/2023, ASSESSMENTS START FY24

Lot
Size

Unit
Count

Net Per
Unit

Net
Assessments

Assessments per unit for FY 2024

43' SF	137	$500.00	$68,500	
53' SF	193	$500.00	$96,500	
Total	330			

Net Annual Assessment	$165,000

9

Cordova Palms
Community Development District
Special Assessment Revenue Bonds, Series 2022-1

Period
Ending	
Principal	Interest
Rate		
Interest	Debt
Service	Annual Debt
Service	Bond
Balance	
								
11/1/23				$65,898	$65,898		$2,325,000	
5/1/24	$30,000		4.8%	$65,898	$95,898	$161,795	$2,295,000	
11/1/24				$65,178	$65,178		$2,295,000	
5/1/25	$35,000		4.8%	$65,178	$100,178	$165,355	$2,260,000	
11/1/25				$64,338	$64,338		$2,260,000	
5/1/26	$35,000		4.8%	$64,338	$99,338	$163,675	$2,225,000	
11/1/26				$63,498	$63,498		$2,225,000	
5/1/27	$35,000		4.8%	$63,498	$98,498	$161,995	$2,190,000	
11/1/27				$62,658	$62,658		$2,190,000	
5/1/28	$40,000		5.3%	$62,658	$102,658	$165,315	$2,150,000	
11/1/28				$61,598	$61,598		$2,150,000	
5/1/29	$40,000		5.3%	$61,598	$101,598	$163,195	$2,110,000	
11/1/29				$60,538	$60,538		$2,110,000	
5/1/30	$40,000		5.3%	$60,538	$100,538	$161,075	$2,070,000	
11/1/30				$59,478	$59,478		$2,070,000	
5/1/31	$45,000		5.3%	$59,478	$104,478	$163,955	$2,025,000	
11/1/31				$58,285	$58,285		$2,025,000	
5/1/32	$45,000		5.3%	$58,285	$103,285	$161,570	$1,980,000	
11/1/32				$57,093	$57,093		$1,980,000	
5/1/33	$50,000		5.7%	$57,093	$107,093	$164,185	$1,930,000	
11/1/33				$55,668	$55,668		$1,930,000	
5/1/34	$55,000		5.7%	$55,668	$110,668	$166,335	$1,875,000	
11/1/34				$54,100	$54,100		$1,875,000	
5/1/35	$55,000		5.7%	$54,100	$109,100	$163,200	$1,820,000	
11/1/35				$52,533	$52,533		$1,820,000	
5/1/36	$60,000		5.7%	$52,533	$112,533	$165,065	$1,760,000	
11/1/36				$50,823	$50,823		$1,760,000	
5/1/37	$60,000		5.7%	$50,823	$110,823	$161,645	$1,700,000	
11/1/37				$49,113	$49,113		$1,700,000	
5/1/38	$65,000		5.7%	$49,113	$114,113	$163,225	$1,635,000	
11/1/38				$47,260	$47,260		$1,635,000	
5/1/39	$70,000		5.7%	$47,260	$117,260	$164,520	$1,565,000	
11/1/39				$45,265	$45,265		$1,565,000	
5/1/40	$75,000		5.7%	$45,265	$120,265	$165,530	$1,490,000	
11/1/40				$43,128	$43,128		$1,490,000	
5/1/41	$80,000		5.7%	$43,128	$123,128	$166,255	$1,410,000	
11/1/41				$40,848	$40,848		$1,410,000	
5/1/42	$85,000		5.7%	$40,848	$125,848	$166,695	$1,325,000	
11/1/42				$38,425	$38,425		$1,325,000	
5/1/43	$90,000		5.8%	$38,425	$128,425	$166,850	$1,235,000	
11/1/43				$35,815	$35,815		$1,235,000	
5/1/44	$95,000		5.8%	$35,815	$130,815	$166,630	$1,140,000	
11/1/44				$33,060	$33,060		$1,140,000	
5/1/45	$100,000		5.8%	$33,060	$133,060	$166,120	$1,040,000	
11/1/45				$30,160	$30,160		$1,040,000	
5/1/46	$105,000		5.8%	$30,160	$135,160	$165,320	$935,000	
11/1/46				$27,115	$27,115		$935,000	
5/1/47	$110,000		5.8%	$27,115	$137,115	$164,230	$825,000	
11/1/47				$23,925	$23,925		$825,000	
5/1/48	$120,000		5.8%	$23,925	$143,925	$167,850	$705,000	
11/1/48				$20,445	$20,445		$705,000	
5/1/49	$125,000		5.8%	$20,445	$145,445	$165,890	$580,000	
11/1/49				$16,820	$16,820		$580,000	
5/1/50	$130,000		5.8%	$16,820	$146,820	$163,640	$450,000	
11/1/50				$13,050	$13,050		$450,000	
5/1/51	$140,000		5.8%	$13,050	$153,050	$166,100	$310,000	
11/1/51				$8,990	$8,990		$310,000	
5/1/52	$150,000		5.8%	$8,990	$158,990	$167,980	$160,000	
11/1/52				$4,640	$4,640		$160,000	
5/1/53	$160,000		5.8%	$4,640	$164,640	$169,280		
	$2,325,000			$2,619,475	$4,944,475	$4,944,475		

Cordova Palms
Community Development District
Debt Service Fund Series 2022-2

	Adopted
Budget	Actuals
as of	Projected
Next 5	Total
Projected	Approved
Budget	
Description	FY 2023	4/30/23	Months	9/30/23	FY 2024	

Revenues						
Special Assessments*	$	-	$	-	$	-	$	-	$	491,030	
Interest Income	$	200	$	12,955	$	2,000	$	14,955	$	3,000	
Carry Forward Surplus	$	502,866	$	504,085	$	-	$	504,085	$	210,414	
Total Revenues	$	503,066	$	517,040	$	2,000	$	519,040	$	704,444	

Expenditures						
Series 2022-2
Interest Expense 11/1	
$	114,386	
$	114,386	
$	-	
$	114,386	
$	194,240	
Principal Expense 5/1	$	-	$	-	$	-	$	-	$	100,000	
Interest Expense 5/1	$	194,240	$	-	$	194,240	$	194,240	$	194,240	
Total Expenditures	$	308,626	$	114,386	$ 194,240	$	308,626	$	488,480	

Excess Revenues/(Expenditures)	$	194,440	$	402,654	$ (192,240)	$	210,414	$	215,964	

11/1/24 Interest Payment	
$	
191,990	

*SERIES 2022 BONDS ARE UNDER CAPITALIZED INTEREST UNTIL 11/1/2023, ASSESSMENTS START FY24

Lot
Size

Unit
Count

Net Per
Unit

Net
Assessments

Assessments per unit for FY 2024

43' SF	8	$1,660.00	$13,280	
53' SF	245	$1,950.00	$477,750	
Total	253			

Net Annual Assessment	$491,030

Cordova Palms
Community Development District
Special Assessment Revenue Bonds, Series 2022-2

Period
Ending	
Principal	Interest
Rate		
Interest	Debt
Service	Annual Debt
Service	Bond
Balance	
								
11/1/23				$194,240	$194,240		$7,155,000	
5/1/24	$100,000		4.5%	$194,240	$294,240	$488,480	$7,055,000	
11/1/24				$191,990	$191,990		$7,055,000	
5/1/25	$105,000		4.5%	$191,990	$296,990	$488,980	$6,950,000	
11/1/25				$189,628	$189,628		$6,950,000	
5/1/26	$110,000		4.5%	$189,628	$299,628	$489,255	$6,840,000	
11/1/26				$187,153	$187,153		$6,840,000	
5/1/27	$115,000		4.5%	$187,153	$302,153	$489,305	$6,725,000	
11/1/27				$184,565	$184,565		$6,725,000	
5/1/28	$120,000		5.1%	$184,565	$304,565	$489,130	$6,605,000	
11/1/28				$181,505	$181,505		$6,605,000	
5/1/29	$130,000		5.1%	$181,505	$311,505	$493,010	$6,475,000	
11/1/29				$178,190	$178,190		$6,475,000	
5/1/30	$135,000		5.1%	$178,190	$313,190	$491,380	$6,340,000	
11/1/30				$174,748	$174,748		$6,340,000	
5/1/31	$145,000		5.1%	$174,748	$319,748	$494,495	$6,195,000	
11/1/31				$171,050	$171,050		$6,195,000	
5/1/32	$150,000		5.1%	$171,050	$321,050	$492,100	$6,045,000	
11/1/32				$167,225	$167,225		$6,045,000	
5/1/33	$160,000		5.4%	$167,225	$327,225	$494,450	$5,885,000	
11/1/33				$162,905	$162,905		$5,885,000	
5/1/34	$165,000		5.4%	$162,905	$327,905	$490,810	$5,720,000	
11/1/34				$158,450	$158,450		$5,720,000	
5/1/35	$175,000		5.4%	$158,450	$333,450	$491,900	$5,545,000	
11/1/35				$153,725	$153,725		$5,545,000	
5/1/36	$185,000		5.4%	$153,725	$338,725	$492,450	$5,360,000	
11/1/36				$148,730	$148,730		$5,360,000	
5/1/37	$195,000		5.4%	$148,730	$343,730	$492,460	$5,165,000	
11/1/37				$143,465	$143,465		$5,165,000	
5/1/38	$205,000		5.4%	$143,465	$348,465	$491,930	$4,960,000	
11/1/38				$137,930	$137,930		$4,960,000	
5/1/39	$220,000		5.4%	$137,930	$357,930	$495,860	$4,740,000	
11/1/39				$131,990	$131,990		$4,740,000	
5/1/40	$230,000		5.4%	$131,990	$361,990	$493,980	$4,510,000	
11/1/40				$125,780	$125,780		$4,510,000	
5/1/41	$245,000		5.4%	$125,780	$370,780	$496,560	$4,265,000	
11/1/41				$119,165	$119,165		$4,265,000	
5/1/42	$255,000		5.4%	$119,165	$374,165	$493,330	$4,010,000	
11/1/42				$112,280	$112,280		$4,010,000	
5/1/43	$270,000		5.6%	$112,280	$382,280	$494,560	$3,740,000	
11/1/43				$104,720	$104,720		$3,740,000	
5/1/44	$285,000		5.6%	$104,720	$389,720	$494,440	$3,455,000	
11/1/44				$96,740	$96,740		$3,455,000	
5/1/45	$305,000		5.6%	$96,740	$401,740	$498,480	$3,150,000	
11/1/45				$88,200	$88,200		$3,150,000	
5/1/46	$320,000		5.6%	$88,200	$408,200	$496,400	$2,830,000	
11/1/46				$79,240	$79,240		$2,830,000	
5/1/47	$340,000		5.6%	$79,240	$419,240	$498,480	$2,490,000	
11/1/47				$69,720	$69,720		$2,490,000	
5/1/48	$360,000		5.6%	$69,720	$429,720	$499,440	$2,130,000	
11/1/48				$59,640	$59,640		$2,130,000	
5/1/49	$380,000		5.6%	$59,640	$439,640	$499,280	$1,750,000	
11/1/49				$49,000	$49,000		$1,750,000	
5/1/50	$400,000		5.6%	$49,000	$449,000	$498,000	$1,350,000	
11/1/50				$37,800	$37,800		$1,350,000	
5/1/51	$425,000		5.6%	$37,800	$462,800	$500,600	$925,000	
11/1/51				$25,900	$25,900		$925,000	
5/1/52	$450,000		5.6%	$25,900	$475,900	$501,800	$475,000	
11/1/52				$13,300	$13,300		$475,000	
5/1/53	$475,000		5.6%	$13,300	$488,300	$501,600		
	$7,155,000			$7,677,945	$14,832,945	$14,832,945		

SIXTH ORDER OF BUSINESS

B.

	

REQUISITION SUMMARY

Cordova CDD 2022-1 Bonds-Acquisition and Construction Account 118690 Cordova CDD 2022-2 Bonds-Acquisition and Construction Account 126173

TO BE RATIFIED/APPROVED - JUNE 14, 2023	
Date of 
Requisition	
Req #	
Payee	
Reference	
INVOICE AMOUNT	
Cordova CDD 2022-2 Bonds-Acquisition and Construction Account 118690 TO BE RATIFIED		
5/18/2023	27	Vallencourt	Cordova Palms Phase 2 - Application for Payment 12 (May 2023)	$	237,738.09	
6/5/2023	28	AJ Johns, Inc.	Cordova Palms Phase 3 - Application for Payment 23001-04 (May 2023)	$	398,087.25	
	
Cordova CDD 2022-2 Bonds-Acquisition and Construction Account TO BE RATIFIED	
$	635,825.34	
			
Date of 
Requisition	
Req #	
Payee	
Reference	
INVOICE AMOUNT	
Cordova CDD 2022-1 Bonds-Acquisition and Construction Account 118690 FOR APPROVAL		
6/6/2023	59	ETM	Phase 4 Recreation Pond(WA#10) Invoice 208695 (May 2023)	$	1,259.65	
6/6/2023	60	ETM	Amenity Center and Dog Park (WA#1) Invoice 208712 (May 2023)	$	16,920.00	
6/6/2023	61	ETM	Cordova Palms Phase 3 CEI Services (WA#7) Invoice 208758 (May 2023)	$	5,299.95	
		
Cordova CDD 2022-1 Bonds-Acquisition and Construction Account TO BE APPROVED	
$	23,479.60	
	
Date of 
Requisition	
Req #	
Payee	
Reference	
INVOICE AMOUNT	
Cordova CDD 2022-2 Bonds-Acquisition and Construction Account 118690 FOR APPROVAL		

Cordova CDD 2022-2 Bonds-Acquisition and Construction Account FOR APPROVAL	
$	-	

TOTAL REQUISITIONS TO BE RATIFIED/APPROVED June 14, 2023	$	659,304.94	

Cordova Palms CDD Requisition Summary June 14 2023

SEVENTH ORDER OF BUSINESS

A.

Cordova Palms
Community Development District
Combined Balance Sheet
April 30, 2023

Governmental Fund Types

Debt	Capital	Totals
	General Fund			Service			Projects		(Memorandum Only)

ASSETS:		
Cash	$249,628	---	---	$249,628	
Prepaid Expenses
Series 2021
Reserve	$1,000

---	---

$219,350	

---	$1,000

$219,350	
Revenue	---	$144,574	---	$144,574	
Principal	---	$165,000	---	$165,000	
Interest	---	$136,081	---	$136,081	
Cap Interest	---	$1,302	---	$1,302	
Acquisition & Construction
Series 2022-1
Reserve	---

---	---

$82,384	$1,086

---	$1,086

$82,384	
Interest	---	$65,898	---	$65,898	
Cap Interest	---	$70,688	---	$70,688	
Acquisition & Construction	---	---	$304,965	$304,965	
Series 2022-2
Reserve	
---		
$245,399		
---		
$245,399	
Interest	---		$194,241		---		$194,241	
Cap Interest	---		$208,414		---		$208,414	
Acquisition & Construction	---		---		$1,284,701		$1,284,701	
Assessment Receivable	$68,148		---		---		$68,148	
TOTAL ASSETS		$318,776 			$1,533,330 			$1,590,753 			$3,442,859 	

LIABILITIES:								
Accounts Payable	$7,287		---		---		$7,287	
Due to Developer	$22,631		---		---		$22,631	
Retainage	---		---		$811,112		$811,112	
Contracts Payable	---		---		$243,161		$243,161	
FUND BALANCES:
Unrestricted	
$288,858		
$1,533,330		
$536,480		
$2,358,668	
TOTAL LIABILITIES & FUND EQUITY		$318,776 			$1,533,330 			$1,590,753 			$3,442,859 	

Cordova Palms
Community Development District
GENERAL FUND
Statement of Revenues & Expenditures For The Period Ending
April 30, 2023

	ADOPTED	PRORATED BUDGET	ACTUAL		
Description	BUDGET	4/30/23	4/30/23	VARIANCE	
REVENUES:					
Assessments - Direct Bill	$333,018	$333,018	$333,018	$0	
TOTAL REVENUES	$333,018	$333,018	$333,018	$0	
EXPENDITURES:					
Administrative					
Supervisors Fees	$12,000	$7,000	$0	$7,000	
FICA Expense	$918	$536	$0	$536	
Engineering	$11,600	$6,767	$4,350	$2,417	
Arbitrage	$1,200	$700	$0	$700	
Attorney	$25,000	$14,583	$6,027	$8,557	
Annual Audit	$3,400	$1,983	$0	$1,983	
Assessment Administration	$5,000	$5,000	$5,000	$0	
Trustee Fees	$5,000	$5,000	$5,675	($675)	
Dissemination	$5,000	$2,917	$4,375	($1,458)	
Management Fees	$47,250	$27,563	$27,563	$0	
Website Maintenance	$1,500	$875	$875	$0	
Information Technology	$2,250	$1,313	$1,313	$0	
Telephone	$500	$292	$56	$236	
Postage	$1,500	$875	$111	$764	
Insurance	$5,625	$5,625	$5,375	$250	
Printing & Binding	$2,000	$1,167	$158	$1,009	
Legal Advertising	$2,000	$1,167	$532	$635	
Other Current Charges	$600	$350	$106	$244	
Office Supplies	$500	$292	$8	$284	
Dues, Licenses & Subscriptions	$175	$175	$175	$0	
Total Administrative	$133,018	$84,177	$61,697	$22,480	
Grounds Maintenance					
Landscape - Maintenance	$80,000	$46,667	$0	$46,667	
Landscape - Contingency	$5,000	$2,917	$0	$2,917	
Landscape - Pond Banks	$40,000	$23,333	$0	$23,333	
Lake Maintenance	$10,000	$5,833	$0	$5,833	
Electric	$3,000	$1,750	$0	$1,750	
Water/Sewer/Irrigation	$30,000	$17,500	$0	$17,500	
Repairs & Maintenance	$10,000	$5,833	$0	$5,833	
Irrigation Repairs	$10,000	$5,833	$0	$5,833	
Pest Control	$2,000	$1,167	$0	$1,167	
Other Repairs and Maintenance	$10,000	$5,833	$0	$5,833	
Total Grounds Maintenance	$200,000	$116,667	$0	$116,667	
					
TOTAL EXPENDITURES	$333,018	$200,844	$61,697	$139,147	
					
EXCESS REVENUES (EXPENDITURES)	($0)		$271,321		
					
FUND BALANCE - Beginning	$0		$17,536		
					
FUND BALANCE - Ending	$0		$288,858		

Cordova Palms
Community Development District General Fund
Month By Month Income Statement

	October	November	December	January	February	March	April	May	June	July	August	September	Total	
REVENUES														
Assessments - Direct Bill	$0	$0	$132,435	$66,218	$0	$0	$134,366	$0	$0	$0	$0	$0	$333,018	
TOTAL REVENUES	$0	$0	$132,435	$66,218	$0	$0	$134,366	$0	$0	$0	$0	$0	$333,018	

EXPENDITURES														
Administrative
Supervisors Fees	

$0	

$0	

$0	

$0	

$0	

$0	

$0	

$0	

$0	

$0	

$0	

$0	

$0	
FICA Expense	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
Engineering	$884	$1,118	$325	$1,057	$967	$0	$0	$0	$0	$0	$0	$0	$4,350	
Arbitrage	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
Attorney	$1,814	$630	$525	$757	$950	$1,351	$0	$0	$0	$0	$0	$0	$6,027	
Annual Audit	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
Assessment Administration	$5,000	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$5,000	
Trustee Fees	$0	$0	$5,675	$0	$0	$0	$0	$0	$0	$0	$0	$0	$5,675	
Dissemination	$625	$625	$625	$625	$625	$625	$625	$0	$0	$0	$0	$0	$4,375	
Management Fees	$3,938	$3,938	$3,938	$3,938	$3,938	$3,938	$3,938	$0	$0	$0	$0	$0	$27,563	
Website Maintenance	$125	$125	$125	$125	$125	$125	$125	$0	$0	$0	$0	$0	$875	
Information Technology	$188	$188	$188	$188	$188	$188	$188	$0	$0	$0	$0	$0	$1,313	
Telephone	$15	$10	$3	$4	$0	$7	$17	$0	$0	$0	$0	$0	$56	
Postage	$0	$30	$4	$18	$22	$35	$1	$0	$0	$0	$0	$0	$111	
Insurance	$5,375	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$5,375	
Printing & Binding	$27	$57	$4	$0	$22	$45	$2	$0	$0	$0	$0	$0	$158	
Legal Advertising	$99	$83	$83	$83	$92	$0	$91	$0	$0	$0	$0	$0	$532	
Other Current Charges	$32	$37	$37	$0	$0	$0	$0	$0	$0	$0	$0	$0	$106	
Office Supplies	$3	$5	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$8	
Dues, Licenses & Subscriptions	$175	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$175	
Total Administrative	$18,298	$6,844	$11,531	$6,795	$6,928	$6,314	$4,987	$0	$0	$0	$0	$0	$61,697	

Grounds Maintenance														
Landscape - Maintenance	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
Landscape - Contingency	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
Landscape - Pond Banks	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
Lake Maintenance	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
Electric	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
Water/Sewer/Irrigation	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
Repairs & Maintenance	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
Irrigation Repairs	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
Pest Control	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
Other Repairs and Maintenance	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
Total Ground Maintenance	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
														
TOTAL EXPENDITURES	$18,298	$6,844	$11,531	$6,795	$6,928	$6,314	$4,987	$0	$0	$0	$0	$0	$61,697	
														
EXCESS REVENUES (EXPENDITURES)	($18,298)	($6,844)	$120,904	$59,423	($6,928)	($6,314)	$129,379	$0	$0	$0	$0	$0	$271,321	

Cordova Palms
Community Development District
2021 Debt Service Fund
Statement of Revenues & Expenditures For The Period Ending
April 30, 2023

	ADOPTED	PRORATED BUDGET	ACTUAL		
Description	BUDGET	4/30/23	4/30/23	VARIANCE	

Revenues					
Assessments - Direct Bill	$438,700	$438,700	$438,700	$0	
Interest Income	$500	$500	$7,240	$6,740	
Total Revenues	$439,200	$439,200	$445,940	$6,740	

Expenditures					
Series 2021
Interest Expense - 11/1	
$136,080	
$136,080	
$136,080	
$0	
Principal Expense - 5/1	$165,000	$0	$0	$0	
Interest Expence - 5/1	$136,080	$0	$0	$0	
Total Expenditures	$437,160	$136,080	$136,080	$0	
					
Excess Revenues (Expenditures)	$2,040		$309,860		
					
Fund Balance - Beginning	$136,374		$356,448		
					
Fund Balance - Ending	$138,414		$666,308		

Cordova Palms
Community Development District 2022-1 Debt Service Fund (Phases 1 and 2) Statement of Revenues & Expenditures
For The Period Ending April 30, 2023

	ADOPTED	PRORATED BUDGET	ACTUAL		
Description	BUDGET	4/30/23	4/30/23	VARIANCE	

Revenues					
Special Assessments*	$0	$0	$0	$0	
Interest Income	$200	$200	$4,378	$4,178	
Total Revenues	$200	$200	$4,378	$4,178	

Expenditures					
Series 2022-1
Interest Expense - 11/1	
$38,806	
$38,806	
$38,806	
$0	
Interest Expence - 5/1	$65,898	$0	$0	$0	
Total Expenditures	$104,704	$38,806	$38,806	$0	
					
Excess Revenues (Expenditures)	($104,504)		($34,428)		
					
Fund Balance - Beginning	$170,601		$253,397		
					
Fund Balance - Ending	$66,097		$218,969		

*SERIES 2022 BONDS ARE UNDER CAPITALIZED INTEREST UNTIL 11/1/2023, ASSESSMENTS START FY24

Cordova Palms
Community Development District 2022-2 Debt Service Fund (Phases 3 and 4) Statement of Revenues & Expenditures
For The Period Ending April 30, 2023

	ADOPTED	PRORATED BUDGET	ACTUAL		
Description	BUDGET	4/30/23	4/30/23	VARIANCE	

Revenues					
Special Assessments*	$0	$0	$0	$0	
Interest Income	$200	$200	$12,955	$12,755	
Total Revenues	$200	$200	$12,955	$12,755	

Expenditures					
Series 2022-2
Interest Expense - 11/1	
$114,386	
$114,386	
$114,386	
$0	
Interest Expence - 5/1	$194,240	$0	$0	$0	
Total Expenditures	$308,626	$114,386	$114,386	$0	
					
Excess Revenues (Expenditures)	($308,426)		($101,431)		
					
Fund Balance - Beginning	$502,866		$749,484		
					
Fund Balance - Ending	$194,440		$648,053		

*SERIES 2022 BONDS ARE UNDER CAPITALIZED INTEREST UNTIL 11/1/2023, ASSESSMENTS START FY24

Cordova Palms
Community Development District
Capital Projects Fund
Statement of Revenues & Expenditures For The Period Ending
April 30, 2023

	Series	Series	Series	
	2021	2022-1	2022-2	

Revenues:

Interest	

$21	

$24,505	

$67,621	
Total Revenues	$21	$24,505	$67,621	

Expenditures

Capital Outlay	

$0	

$1,271,345	

$3,210,277	
Total Expenditures	$0	$1,271,345	$3,210,277	
				
Excess Revenues (Expenditures)	$21	($1,246,839)	($3,142,656)	
				
Fund Balance - Beginning	$1,066	$1,009,868	$3,915,020	
				
Fund Balance - Ending	$1,086	($236,971)	$772,364	

Cordova Palms
Community Development District Long Term Debt Report

Series 2021 Special Assessment Bonds		
Interest Rate:	2.4% - 4.0%	
Maturity Date:	5/1/2052	
Reserve Fund Definition:	50% MADS	
Reserve Fund Requirement:	$219,350	
Reserve Fund Balance:	$219,350	
Bonds outstanding - 2/17/2021	$7,980,000	
Current Bonds Outstanding	$7,980,000	
		
Series 2022-1 Special Assessment Bonds		
Interest Rate:	4.8% - 5.8%	
Maturity Date:	5/1/2053	
Reserve Fund Definition:	50% MADS	
Reserve Fund Requirement:	$82,384	
Reserve Fund Balance:	$82,384	
Bonds outstanding - 7/15/2022	$2,325,000	
Current Bonds Outstanding	$2,325,000	
		
Series 2022-2 Special Assessment Bonds		
Interest Rate:	4.5% - 5.6%	
Maturity Date:	5/1/2053	
Reserve Fund Definition:	50% MADS	
Reserve Fund Requirement:	$245,399	
Reserve Fund Balance:	$245,399	
Bonds outstanding - 7/15/2022	$7,155,000	
Current Bonds Outstanding	$7,155,000	

CORDOVA PALMS COMMUNITY DEVELOPMENT DISTRICT	
Fiscal Year 2023 Assessments Receipts Summary	

ASSESSED	# O&M UNITS
ASSESSED	SERIES 2021 DEBT
ASSESSED	SERIES 2022-1
DEBT ASSESSED	SERIES 2022-2
DEBT ASSESSED	FY23 O&M
ASSESSED	
TOTAL ASSESSED	
DREAM FINDERS	583	438,700.00	-	-	264,870.00	703,570.00	
AMH DEV	139	-	-	-	68,148.00	68,148.00	
TOTAL DIRECT INVOICES (1) (2)

ASSESSED REVENUE TAX ROLL	722	438,700.00	-	-	333,018.00	771,718.00

-	
TOTAL ASSESSED	722	438,700.00	-	-	333,018.00	771,718.00	

DUE / RECEIVED	
BALANCE DUE	SERIES 2021 DEBT
RECEIVED	SERIES 2022-1
DEBT RECEIVED	SERIES 2022-2
DEBT RECEIVED	
O&M RECEIVED	
TOTAL RECEIVED	
DREAM FINDERS	(0.00)	438,700.00	-	-	264,870.00	703,570.00	
AMH DEV	68,148.00		-	-		-	
TOTAL DIRECT RECEIVED	68,148.00	438,700.00	-	-	264,870.00	703,570.00	
TAX ROLL DUE / RECEIVED	-	-	-	-	-	-	
TOTAL DUE / RECEIVED	68,148.00	438,700.00	-	-	264,870.00	703,570.00	

(1) D/S Direct Assessments are due: 35% due 12/1/22, 4/1/23 and 30% due 9/1/232	
(3) Series 2022 Bonds are under capitalized interest until 11/1/2023	

B.

Cordova Palms
Community Development District

Check Run Summary 4/1/2023-5/31/2023

Fund	Date	Check No.	Amount	

General Fund
Accounts Payable	

5/9/23	

91-95	

$	15,745.92	
Total			$	15,745.92	

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	6/02/23	PAGE	1
*** CHECK DATES 04/01/2023 - 05/31/2023 ***	CORDOVA PALMS - GENERAL
BANK A CORDOVA - GENERAL
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
5/09/23 99999	5/09/23 VOID	202305 000-00000-00000	C	.00 VOID CHECK
******INVALID VENDOR NUMBER******	.00 000091

5/09/23 00001	4/01/23	
	4/01/23	
	4/01/23	
	4/01/23	
	4/01/23	
	4/01/23	
	4/01/23	

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
27	202304 310-51300-34000	*	3,937.50
APR MANAGEMENT FEES
27	202304 310-51300-35200	*	125.00
APR WEBSITE ADMIN
27	202304 310-51300-35100	*	187.50
APR INFO TECH
27	202304 310-51300-31300	*	625.00
APR DISSEM AGENT SRVCS
27	202304 310-51300-51000	*	.06
OFFICE SUPPLIES
27	202304 310-51300-42000	*	1.20
POSTAGE
27	202304 310-51300-42500	*	2.25
COPIES
4/01/23 27	202304 310-51300-41000	*	17.08
TELEPHONE
5/01/23 28	202305 310-51300-34000	*	3,937.50

	5/01/23	
	5/01/23	
	5/01/23	
	5/01/23	
	5/01/23	
	5/01/23	

MAY MANAGEMENT FEES
28	202305 310-51300-35200	*	125.00
MAY WEBSITE ADMIN
28	202305 310-51300-35100	*	187.50
MAY INFO TECH
28	202305 310-51300-31300	*	625.00
MAY DISSEM AGENT SRVCS
28	202305 310-51300-51000	*	6.82

202305 310-51300-42000	*	55.49	
202305 310-51300-42500	*	21.30	

OFFICE SUPPLIES 28
POSTAGE 28
COPIES
GOVERNMENTAL MANAGEMENT SERVICES	9,854.20 000092
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/09/23 00010	5/02/23 24026	202305 310-51300-32200	*	3,500.00
FYE 9/30/22 AUDIT
GRAU AND ASSOCIATES	3,500.00 000093
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
5/09/23 00009	3/31/23 3197874	202302 310-51300-31500	*	949.60
FEB GENERAL COUNSEL
4/28/23 3210937	202303 310-51300-31500	*	1,351.00
MAR GENERAL COUNSEL
KUTAK ROCK LLP	2,300.60 000094
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
CORD CORDOVA PALMS	OKUZMUK

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	6/02/23	PAGE	2
*** CHECK DATES 04/01/2023 - 05/31/2023 ***	CORDOVA PALMS - GENERAL
BANK A CORDOVA - GENERAL
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
5/09/23 00011	4/03/23 5533827	202304 310-51300-48000	*	91.12
NOTICE OF MEETING 8633320
CA FLORIDA HOLDINGS, LLC	91.12 000095
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A	15,745.92
TOTAL FOR REGISTER	15,745.92

CORD CORDOVA PALMS	OKUZMUK

Governmental Management Services, LLC
1001 Bradford Way
Kingston, TN 37763

Bill To:
Cordova Palms CDD 475 West Town Place Suite114
St. Augustine, FL 32092

Invoice

Invoice #: 27
Invoice Date: 4/1/23
Due Date: 4/1/23
Case:
P.O. Number:

Description	Hours/Qty	Rate	Amount
Management Fees - April 2023 Website Administration - April 2023 Information Technology-April 2023
Dissemination Agent Services -April 2023
Office Supplies Postage Copies Telephone

	"(0
3>2
35"/
JI.J
S/0 '{20
'-/'lS
'i I, 0		3,937.50	3,937.50	
			125.00	125.00	
			187.50	187.50	
			625.00	625.00	
			0.06	0.06	
			1.20	1.20	
			2.25	2.25	
			17.08	17.08	

Governmental Management Services, LLC
1001 Bradford Way

Kingston, TN 37763

Bill To:
Cordova Palms CDD 475 West Town Place Suite114
St. Augustine, FL 32092

Invoice

Invoice #: 28
Invoice Date: 5/1/23
Due Date: 5/1/23
Case:
P.O. Number:

Description	Hours/Qty	Rate	Amount

Management Fees - May 2023 Website Administration - May 2023 Information Technology - May 2023
Dissemination Agent Services - May 2023 Office Supplies
·Postage
Copies		3,937.50
125.00
187.50
625.00
6.82
55.49
21.30	3,937.50
.	125.00
187.50
625.cib
6.82
55.49
21.30	

Grau and Associates
951 W. Yamato Road, Suite 280 Boca Raton, FL 33431- www.graucpa.com

Phone: 561-994-9299	Fax: 561-994-5823

Cordova Palms Community Development District 475 West Town Place, Suite 114
St. Augustine, FL 32092

Invoice No.	24026 Date	 05/02/2023

SERVICE

Audit FYE 0913012022

AMOUNT

$	3 500.00

Current Amount Due	$	3 500 00

0-30	31-60	61-90	91-120	Over120	Balance	
3,500.00	0.00	0.00	0.00	0.00	3,500.00	
Payment due upon receipt.

Grau & Associates
951 Yamato Road, Suite 280 Boca Raton, FL 33431
561-994-9299

Cordova Palms Community Development District 475 West Town Place, Suite 114
St. Augustine, FL 32092
Statement Date	05/02/2023 Client No.		814

Invoice

Date	Description

Charge	Credit

Balance

Current Activity Through 0510212023

24026

05/0212023 Invoice

3,500.00
Current Balance

3,500.00
$	3,500.00

0 -30	31- 60	61 - 90	91 -120	Over120		Balance	
3,500.00	0.00	0.00	0.00	0.00	$	3 500.00	

KUT AK	ROCK  LLP
TALLAHASSEE, FLORIDA
Telephone 404-222-4600
Facsimile 404-222-4654

Federal ID 47-0597598

March 31, 2023

Check Remit To: Kulak Rock LLP PO Box 30057
Omaha, NE 68103-1157

ACH/Wire Transfer Remit To:
ABA #104000016
First National Bank of Omaha
Kutak Rock LLP
AIC # 24690470
Reference: Invoice No. 3197874 Client Matter No. 4823-1
Notification Email: eftgroup@kutakrock.com

Mr. Jim Perry Cordova Palms CDD
Governmental Management Services - North Florida Suite 114
475 West Town Place
St. Augustine, FL 32092	Invoice No. 3197874
4823-1

Re:	General Counsel

For Professional Legal Services Rendered

02/08/23	W. Haber	0.70	245.00	Prepare for and participate in Board	

02/08/23	
W. Haber	
0.60	
210.00	meeting
Review	bonds  and  record	same;	
				prepare response to notice to owner	
02/09/23	K. Jusevitch	0.20	29.00	Record performance  and payment
bonds in official records; confer with	
				Haber	
02/10/23	W. Haber	0.30	105.00	Review	and	revise	minutes	and
confer with Laughlin regarding same	
02/11/23	L. Whelan	0.50	192.50	Monitor 2023 legislative session for
legislation pertaining to or affecting	

02/27/23	
W. Haber	
0.20	
70.00	District
Confer with Hogge regarding agenda	
				for March meeting	

TOTAL HOURS	2.50

KUTAK ROCK LLP
Cordova Palms CDD		
March 31, 2023		
Client Matter No. 4823-1		
Invoice No. 3197874		
Page 2		
TOTAL FOR SERVICES RENDERED		$851.50	
DISBURSEMENTS			
Filing and Court Fees	97.50		
Freight and Postage	0.60		
TOTAL DISBURSEMENTS		98.10	
TOTAL CURRENT AMOUNT DUE		$949.60	

KUTAK  ROCK  LLP
TALLAHASSEE, FLORIDA
Telephone 404-222-4600
Facsimile 404-222-4654

Federal ID 47-0597598

April 28, 2023

Mr. Jim Perry Cordova Palms CDD
Governmental Management Services - North Florida Suite 114
475 West Town Place St. Augustine, FL 32092

Check Remit To: Kulak Rock LLP PO Box 30057
Omaha, NE 68103-1157

ACH/Wire Transfer Remit To:
ABA #104000016
First National Bank of Omaha
Kulak Rock LLP
AIC # 24690470
Reference: Invoice No. 3210937 Client Matter No. 4823-1
Notification Email: eftgroup@kutakrock.com

Invoice No. 3210937
4823-1

Re:	General Counsel
For Professional Legal Services Rendered

03/01/23	W.Haber	0.50	175.00	Confer with Sigmon and Metcalf regarding applicability of True Up	
				Agreement; review agreement	
03/03/23	W.Haber	0.80	280.00	Review and revise access agreement with County and confer with Sigmon	
				regarding same	
03/04/23	L. Whelan	0.50	192.50	Monitor 2023 legislative session for legislation pertaining to or affecting	

03/13/23	
K. Jusevitch	
0.50	
72.50	District
Prepare response to notice to owner;	
				confer with Haber and correspond	
				with district manager and district	

03/21/23	
W.Haber	
0.40	
140.00	engineer
Confer	with	Sigmon	regarding	

03/22/23

W.Haber	0.70	245.00

estoppel letter; confer with Laughlin regarding same
Confer  with  Laughlin  and  Fulks
regarding	estoppel	letter;	review

KUTAK ROCK LLP
Cordova Palms CDD April 28, 2023
Client Matter No. 4823-1 Invoice No. 3210937
Page 2

03/23/23	
W. Haber	
0.40	
140.00	same and confer with Sigmon
Confer	with	Fulks	and	Sigmon	
				regarding	estoppel	letter;	review	

03/28/23	
W. Haber	
0.30	
105.00	same
Review requested change to estoppel	
				letter; confer with Fulks and Sigmon	
				regarding same	
TOTAL HOURS	4.10	

TOTAL FOR SERVICES RENDERED		$1,350.00	
DISBURSEMENTS			
Freight and Postage	0.60		
Reproduction Costs	0.40		
TOTAL DISBURSEMENTS		1.00	
TOTAL CURRENT AMOUNT DUE		$1,351.00	

LOCALiQ
FLORIDA	ACCOUNT NAME
Cordova Palms Cdd	ACCOUNT#
762049	PAGE#
1 of 1	
	INVOICE#
0005533827	BILLING PERIOD
Apr 1-Apr 30, 2023	PAYMENT DUE DATE
May 20, 2023	
	
PREPAY
(Memo Info}

$0.00	
UNAPPLIED
(included in amt due)

$0.00	
TOTAL AMOUNT DUE

$91.12	
BILLING ACCOUNT NAME AND ADDRESS	BILLING INQUIRIES/ADDRESS CHANGES	FEDERAL ID	
	1*877-736-7612 or smb@ccc.gannett.com	47-2390983	
Cordova Palms Cdd 475 WTown PL# 114
Saint Augustine, FL 32092-3649	Legal Entity: Gannett Media Corp.
Terms and Conditions: Past due accounts are subject to interest at the rate of 18% per annum or the maximum legal rate (whichever is less). Advertiser claims for a credit related to rates incorrectly invoiced or paid must be submitted in writing to Publisher within 30 days of the invoice date or the claim will be waived. Any credit towards future advertising must be used within 30 days of issuance or the credit will be forfeited.
All funds payable In US dollars.	

0000762049000000000000055338270000911267171

To signMup for E-mailed invoices and online payments please contact abgspecial@gannett.com. Previous account number: MOR_56621

Date	Description	Amount

4/1/23
4/5/23

Balance Forward PAYMENT-THANK YOU

$92.48
-$92.48

Package Advertising:
StartMEnd Date Order Number	Description	PO Number	Package Cost	
4/3/23 8633320	8633320		$91.12	

·-------------P-L-EA-S-E-D-ET-A-C-H-A-ND-R-E-T-U-RN-T-H-IS-P-O-R-TI-O-N  -W-IT-H-Y-OU-R-P-A-Y-ME-N-T-------------

LOCALiQ

ACCOUNT NAME	PAYMENT DUE DATE	AMOUNT PAID
Cordova Palms Cdd	May 20, 2023
FLORIDA	ACCOUNT NUMBER	INVOICE NUMBER 762049		0005533827

REMITTANCE ADDRESS (Include Account# & Invoice# on check)

TOTAL AMOUNT DUE

CURRENT DUE	30 DAYS PAST DUE	60 DAYS PAST DUE	90 DAYS PAST DUE	120+ DAYS PAST DUE	UNAPPLIED PAYMENTS	
$91.12	$0.00	$0.00	$0.00	$0.00	$0.00	

$91.12
TO PAY WITH CREDIT CARD PLEASE FILL OUT BELOW:

CA Florida Holdings, LLC PO Box 631244

□VISA	□MASTERCARD	□DISCOVER □AMEX
Card Number

Cincinnati, OH 45263-1244

Exp Date

--I--I		CW Code

Signature	Date

0000762049000000000000055338270000911267171

LOCALiQ

Date:	05/08/2023	
Order Number:	8633320	
Prepayment Amount:	$ 0.00	

FLORIDA

	Order Confirmation	
	Not cm Invoice	

Account Number:	762049	
customer Name:	Cordova Palms Cdd	
Customer Address:	Cordova Palms Cdd 475 W Town PL# 114
Saint Augustine FL 32092-3649	
Contact Name:	Cordova Palms Cdd	
Contact Phone:	9048193436	
Contact Email:		
PO Number:		

p,'iiJt
Product

SAG St Augustine Record

SAG staugustine.com

#Insertions	Start - End 04/03/2023 - 04/03/2023
04/03/2023 - 04/03/2023

Column Count:	1.0000	
Line Count:	67.0000	
Height in Inches:	0.0000	

category Public Notices Public Notices

ITotal Order Confirmation	
1/2

Page 1 of 1

NOTICE OF MEETING OF THE BOARD OF SUPERVISORS OF THE CORDOVA PALMS COMMUNITY DEVELOPMENT DISTRICT

The Boord of Supervisors {"Boord") of the Cordova Palms Community Development Oistrlcl will hold o regular meeting on Wednesday, April 12, 2023 at 10:00 o.m. at the offices	of	Governmental Management Services, LLC, 475 West Town Place, Suite 114 St. Augustine, Florida 32092. The purpose of the meeting ls fo review monthly flnanclal reports, staff reports, and to conduct any other business that may come before the Boord. A copy of the agenda may be obtained from Governmental Management Services, LLC, 475 West Town Place, Suite 114, Sf. Augustine, Florida 32092, Ph: {904)
940-5850,	and	email d1aughl1n@gmsnf.com ("District Manager's Office"), and is also available on the Dlstrlct's website, www.CordovoPolmsCDD.com.
The meeting ls open to the public and will be conducted !n accordance with the provisions of Florida low. The meeting may be continued to a date, time, and place to be specified on the record at meeting. There may be occasions when Board Supervisors or District Stoff will portlcipote by speaker telephone.
Any person requiring special accommodations at this meeting because of a dtsobilltv or physlcal Impairment should contact the District Manager's Office at !east forty-eight {48) hours prior to the meeting. 11 you ore hearing or speech Impaired, please contact the Florldo Relay Service by dlal!ng 7+ l, or l-800-955-8771 (TTY)/ 1·800-955·
8770 (Voice), far aid ln contacting the District Manager's Offlce.
A person who decides to appeal any decision mode by the Board with respect to any matter considered at the meeting is advised that this same person will need a record of the proceedings and that occordlng1y, the person may need to ensure that a verbatim record of the proceedings ls mode, including the testimony and evidence upon which the appeal Is to be based.
Daniel Loughlin District Manager

LOCALiQ
FLORIDA	PO Box 631244 Cincinnati, OH 45263-1244

PROOF OF PUBLICATION
Cordova Palms Cdd Cordova Palms Cdd 475WTownPL# 114
Saint Augustine FL 32092-3649

STATE OF FLORIDA, COUNTY OF ST JOHNS

The St Augustine Record, a daily newspaper published in St Johns County, Florida; and of general.circulation in St Johns County; and personal knowledge of the facts herein state and that the notice hereto annexed was Published in said newspapers in the issues dated or by publication on the newspaper's website, if authorized, on:

04/03/2023

and that the fees charged are legal.
Sworn to and subscribed before on 04/03/2023

NOTICE OF MEETING OF THE BOARD OF SUPERVISORS OF THE CORDOVA PALMS COMMUNITY DEVELOPMENT DISTRICT
The Boord of Su(lervtsors ("Boord") of th!'! Cordova Palms Community Development District wlll hold o regulur meetlng on Wednesday, Apr!! 12, 2023 at 10:00 o,m. of the offlc&s	of		Governmental Mono9emenl serv!cesr LLC, 475 West Town Place, suite! ll-4 St. Au1;1usilne, Florida 32092, The purpose of the meeting !s to review monthly financial reports1 staff reports, and to conducl any other buslness that may come before the Boord, A COPY of the agenda h'IOY be obtained from Governmental Management Services, LLC, ,175 West Town Place, Suite 114, St. Augustine, Florlda 32092, Ph: {904) 940-SBS0r		and		emall dJoughlln@gmsnf.com {"District Manager's Office"), and ls also ovallabte- on the Dlstr{ct's website, www,cordovoPalmsCDD,com.
The meeting rs open to the public and will beconducted in occordcmce with the provisions of Florida law. The meeting may be continued to a dote, time, and place to be specified on the record ot meeting. There rnov be occasions when Board Supervisors or District Slaff will parfidpofe by speaker telephone.
Anv person requiring special accommodotior1s ot this meeting because of a dlsobllitY or phvslcal impairment should contact the District MQ'.noger's Office at leost forty-e[ghf (481 hours prior to the meetln9. If you are hearing or speech Impaired, please contact the Florida Relay Service by dialing 7-l­ l, or l•BQ0-955-8771 (TTY}/ 1-800-955-
8770 (Voice), for aid !n contacting
1he District Manager's Office,

Notaiy, State of WI, County of Bin,	Si.b

	1	

A person who decides to uppeol any decision made by the Boord with

respect to any matter considered at the meeffng is advised that lhis sClme person will need o record of

My commision expires
Publication Cost:	$91.12

!he proceedings and that accordingly, the person may need to ensure Iha! Q verbatim record of the proceedings Is mode, lncludlm, the

Order No: Customer No: PO#:

8633320
762049

# of Coples:
1

testimony and evidence upon which the oppeol is lo be !:)used,
Doniel Loughlin D1sfrlct Manager

TIDS IS NOT AN INVOICE!
Please do 110! 11se this.formfor payment re111i({a11ce.

MARIAH VERHAGENl

Notary Public

•

State of Wisconsin

.

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