RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT

MIAMI-DADE COUNTY REGULAR BOARD MEETING MAY 22, 2023
6:30 P.M.

Special District Services, Inc. 8785 SW 165th Avenue, Suite 200
Miami, FL 33193

www.riversideparkcdd.org 786.347.2711 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA RIVERSIDE PARK
COMMUNITY DEVELOPMENT DISTRICT
Meeting Room at Mercedes Benz of Cutler Bay 10701 SW 211th Street
Cutler Bay, Florida 33189
REGULAR BOARD MEETING
May 22, 2023
6:30 p.m.

Call to Order
Proof of Publication	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
April 17, 2023 Special Board Meeting Minutes	Page 3
New Business
Consider   Approval   of   Centennial   Bank   Loan   Modification   Term Sheet	Page 7
Loan Modification Summary	Page 9
Modification Summary (Sources & Uses Breakdown)	Page 10
Special Assessment Refunding Bonds, Series 2014	Page 13
Consider Approval of Resolution No. 2023-04 - Authorizing Resolution	Page 17
Consider     Approval     of     First     Supplemental     Trust Indenture	Page 22
Consider      Approval      of       First      Addendum      to Bonds	Page 27
Consider Approval of Resolution No. 2023-03 – Redacting Resolution No. 2023-02 and Approving a Proposed Budget for FY 2023/2024 and Resetting a Public Hearing Date	Page 30
Old Business
Administrative Matters
Financial Update	Page 31
Reminder of Statement of Financial Interests Disclosure 2022 Form 1, Filing Deadline: July 1, 2023
Additional Board Member/Staff Comments
Adjourn

MIAMI-DADE

STATE OF FLORIDA COUNTY OF MIAMI-DADE:

Before the undersigned authority personally appeared GUILLERMO GARCIA, who on oath says that he or she is the DIRECTOR OF OPERATIONS, Legal Notices of the Miami Daily Business Review f/k/a Miami Review, of Miami-Dade County, Florida; that the attached copy of advertisement, being a Legal Advertisement of Notice in the matter of

RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT - REVISED FISCAL YEAR 2022/2023 REGULAR MEETING SCHEDULE

in the XXXX Court,
was published in a newspaper by print in the issues of Miami Daily Business Review f/k/a Miami Review on

03/10/2023

Affiant further says that the newspaper complies with all legal	for  publication  in  chapter	50,  Florida

ti -	 .......  -  --· -
Sl!!-ATrACHEO

Swor t and subscribed before me this
10  day of MARCH, A.D. 2023

GUILLERMO GARCIA personally known to me

Ri.)SANA SALGADO
Cc:;1.-niss!on ti HH 336987
E:;::,:,,,s tfovember 30, 2026

RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING
APRIL 17, 2023

CALL TO ORDER

The April 17, 2023, Special Board Meeting of the Riverside Park Community Development District (the “District”) was called to order at 6:35 p.m. in a Meeting Room at Mercedes Benz of Cutler Bay located at 10701 SW 211th Street, Cutler Bay, Florida 33189.

PROOF OF PUBLICATION

Proof of publication was presented that notice of the Special Board Meeting had been published in the
Miami Daily Business Review on April 10, 2023, as legally required.

ESTABLISH A QUORUM

It was determined that the attendance of Chairperson Lorraine Torres, Vice Chairman Lariel Torres and Supervisors Ingrid Ojeda and Daniel Alvarez (via phone) constituted a quorum and it was in order to proceed with the meeting.

Staff also in attendance were: District Manager Gloria Perez of Special District Services, Inc.; and General Counsel Gregory George of Billing, Cochran, Lyles, Mauro & Ramsey, P.A.

Also presented via phone was Jon Kessler of FMS Bonds.

ADDITIONS OR DELETIONS TO THE AGENDA

The Board directed District management to gather pricing for the painting of the monuments and columns, changing the colors to a white base with black letters.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

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

APPROVAL OF MINUTES
March 20, 2023, Regular Board Meeting

The minutes of the March 20, 2023, Regular Board Meeting were presented for consideration.

A MOTION was made by Supervisor Ojeda, seconded by Supervisor Lorraine Torres and passed unanimously approving the minutes of the March 20. 2023, Regular Board Meeting, as presented.

NEW BUSINESS
FMS Bond Presentation – Special Assessment Refunding Bonds, Series 2023

Mr. Kessler went over his presentation in the meeting book, noting:

Riverside Park CDD issued its $2,025,000 of Series 2004 Bonds to finance a portion of the water, sewer, roadway improvements for the community.

When issued in 2004, the community was not built out and the bonds were issued as Non-Rated Bonds at an interest rate of 6.125% with a final maturity of May 1, 2034.
After all 205 units were constructed, the CDD refinanced its 2004 Bonds with a bank loan (“2014 Loan”). The interest rate on the 2014 Loan is currently fixed at 3.25% through 5/1/2024 and the 2014 Loan matures on 5/1/2034. After the upcoming 5/1/2023 principal payment, the loan will be outstanding in the amount of $970,000.
The interest rate on the 2014 Loan adjusts on 5/1/2024 (and again on 5/1/2029) to a rate based upon the following formula: 65% of the then-current yield on the 5-year Treasury Note + 300 basis points. If adjusted today, the interest rate would be 5.40%. The interest rate adjustment is capped at 8.40%.
At the time of the 2014 refinancing, it was recommended that the CDD continue, but is not required, to collect assessments at the then current interest rate of 6.125% and use money to hyper-amortize bonds so that as of 5/1/2024 or 5/1/2029, if rates are higher, the assessments would NOT increase and the CDD could retire all the bonds.
The hyper-amortization structure would have resulted in less interest being paid by the District.
The Board instead elected to lower the annual assessments based on the 3.25% rate.
As a result, the current balance is at $970,000 v. approximately $605,000 if the District had hyper-amortized the Loan.

The rate adjustment occurs on 5/1/24. The 2023 – 2024 budget will need to address the increase in assessments to cover the 11/1/24 payment. The District has the following options:

Option 1 – Refinance Now With a New Lender – The District could refinance today with a new lender at approximately 4.75% today.* The interest rate would increase from 3.25% and the annual debt assessments to residents would increase from $557 to $575 or approximately $3,530 total. The rate would be fixed through the maturity date of the loan through 2034 and would not be subject to any adjustment on 5/1/2024 or 5/1/2029.
Option 1 fixes the rate, but assessments and Loan par increase.
*FMS has had preliminary discussions with a bank but has not received a term sheet or a commitment from a bank.

Option 2 – “Kick the Can” – The District has $27,000 of excess collections on hand to withstand an increase in rates up to 6.50% for the 11/1/24 payment. Accordingly, the District could wait to see what the actual interest rate adjustment is on 5/1/24 and choose to refinance at that time, either with the current lender or a new lender.
The issue with this approach is that rates could be meaningfully higher on 5/1/2024 than they currently are.
Under the 2014 Loan, the adjustment is for only 5 years through 5/1/2029, and the loan matures on 5/1/2034.

Option 3 – Work with the current lender on a fixed rate loan – The current lender indicated they would be willing to modify the terms of the Loan for a fixed rate of 5.68% through maturity. The interest rate would increase from 3.25% and the annual debt assessments to residents would increase from only $557 to $578 or approximately $4,180 total. The rate would be fixed through the maturity date of the loan through 2034 and would not be subject to any adjustment on 5/1/2024 or 5/1/2029.
The benefit of working with the current lender is fewer transaction fees and the par amount will not increase.

Discussion ensued and the Board directed FMS Bonds to work with the current lender option.

Consider Resolution No. 2023-03 – Redacting Resolution No. 2023-02 and Adopting a Proposed Budget for Fiscal Year 2023/2024 & Setting a Public Hearing Date

This item was tabled until the May 22, 2023, meeting.

OLD BUSINESS

There were no Old Business items to come before the Board.

ADMINISTRATIVE MATTERS
Financial Update

Mrs. Perez presented the financials in the meeting book and briefly reviewed them with the Board, pointing out that available funds as of March 31, 2023, were $331,237.26.

BOARD MEMBER/STAFF CLOSING COMMENTS

There were no further comments from the Board Members or staff.

ADJOURNMENT

There being no further business to come before the Board, a MOTION was made by Supervisor Lorraine Torres, seconded by Supervisor Ojeda and passed unanimously adjourning the Special Board Meeting at 6:56 p.m.

ATTESTED BY:

Secretary/Assistant Secretary	Chairperson/Vice-Chair

April 21, 2023

Riverside Park Community Development District SDS – 2501A Burns Rd.
Palm Beach Gardens, FL 33410

RE:	Bank Qualified Tax Exempt Financing Request for the Riverside Park Community Development District’s modification of its Series 2014 Bonds

Thank you for providing Centennial Bank the opportunity to provide Riverside Park Community Development District with the above referenced modification. This letter is intended to outline the basic terms and conditions of the contemplated loan transaction. This letter is not a commitment, and does not include all of the provisions, representations, warranties and agreements that may be contained in a formal commitment letter.

The following briefly describes some of the terms and conditions of the proposed modification:

Borrower:	Riverside Park Community Development District

Loan Amount:	Up to $1 MM

Purpose:	Modify to fixed interest rate

Interest Rate:	5.68% fixed (bank-qualified, tax-exempt)

Repayment Schedule:  Annual principal payments and semi-annual interest payments

Loan Fee:	½ point

Prepayment:	3/2/1/1/1 only if refinanced with another lender

Security:	The requested loan will be collateralized by an assignment of revenues and assessments of the Riverside Park Community Development District. The assessments are co-equal and are collected in the same manner as the ad valorem real estate taxes of the District.

Closing Costs: Borrower shall pay all costs incurred or required in connection with the loan.

We appreciate your giving us the opportunity to make this proposal and look forward to a continued mutually satisfactory and rewarding relationship. If you have any questions please do not hesitate to contact me directly at (239) 333-2836.

Sincerely,

Jodi Baird, CRC Sr. Vice President

Riverside Park CDD
Loan Modification Summary

	2014 Loan	2014 (Modified)	
Loan Outstanding	$970,000	$910,000	
Interest Rate (1) (3)	3.25%	5.68%	
Maximum Annual Debt Service (2)	$113,118	$111,683	
Maximum Payment Per Unit (2)	$557	$550	
Reserve Fund (4)	$57,504	$0	
Call Date	Anytime at Par	Non-Callable	
Final Maturity / Rate Set	2024 / 2029/ 2034	2034	
The interest rate will no longer adjust in 2024 and again in 2029.
The numbers herein are net of collection costs and early payment discounts.
The interest rate and assessment levels herein are final.
The reserve fund and excess revenues were used to pay down a portion of the principal.

Riverside Park CDD	
Sources and Uses - Par Amount	

Sources	
2014 DSRF	
2014 Revenue	
Total	

$57,827.63	
$46,966.92	
$104,794.55	

Uses	
Professional Fees	$22,850.00	
6/12/2023 Accrued Interest PMT (5/1 - 6/12)	$3,590.35	
11/1/2023 PMT (Set Aside in Revenue Account)*	$18,354.20	
Cash Available For Redemption	$60,000.00	

Bond Par Accounting	
Par Amount after 5/1/23 PMT	$970,000.00	
Less:	
--Partial Redemption	($60,000.00)	
Par Amount after Redemption/Modification	$910,000.00	

November 1, Payment Accounting	
11/1/23 Payment	

$19,957.31

Sources of Cash To Make 11/1 Payment	
Money On Hand Set Aside	
Collections Pending (22-23 collections)	
Total	

$18,354.20	
$2,873.00	
$21,227.20	

Riverside Park CDD	
Debt Service and Levy/Collections Info	

22-23 Debt Service Levy	
Amount Levied	$	113,118.00	
Less: Money Received	$	110,245.00	
Collections Pending*	$	2,873.00	

*Of the $2,873 remaining to be collected, $1,603 is assumed to be	
received to make the 11/1/23 PMT, together with	
 $18354.2 set aside. See Source-Uses.		

2023 Revenue Account 	
Current Revenue Account Balance (5/1/23)	$	46,966.92	
Less:	
--6/12/2023 Accrued Interest PMT (5/1 - 6/12)	$	(3,590.35)	
--11/1/2023 PMT (6/12/23 - 11/1/23 -- DBC)	$	(18,354.20)	
Cash Available For Redemption	$	25,022.37	

5/15/23 Accrued Interest PMT	
Par Amount Outstanding	
Interest Rate	
Last Interest Payment Date	
Modification Date	
5/15/23 Accrued Int PMT	

$	970,000.00	
3.25%	
5/1/2023	
6/12/2023	
$	3,590.35	

Riverside Park CDD	
Transaction Fees	

Fee Tracker	
Bond Counsel	
District Counsel	
Bank Fee	
  Trustee Fee		
Total Fees	

$	10,000.00	
$	5,500.00	
$	4,850.00	
$	2,500.00 	
$	22,850.00	

May 1, 2023 11:14 am Prepared by DBC Finance	(Riverside Park CDD Refunding 2023:RP-2014F)

TABLE OF CONTENTS

Riverside Park Community Development District Special Assessment Refunding Bonds, Series 2014 (Fixed)

Report	Page

Bond Debt Service

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Bond Summary Statistics

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May 1, 2023 11:14 am Prepared by DBC Finance	(Riverside Park CDD Refunding 2023:RP-2014F) Page 1

BOND DEBT SERVICE

Riverside Park Community Development District Special Assessment Refunding Bonds, Series 2014 (Fixed)

Period Ending	
Principal	
Coupon	
Interest	
Debt Service	
11/01/2023			19,957.31	19,957.31	
11/01/2024	61,000	5.680%	49,955.60	110,955.60	
11/01/2025	65,000	5.680%	46,377.20	111,377.20	
11/01/2026	69,000	5.680%	42,571.60	111,571.60	
11/01/2027	73,000	5.680%	38,538.80	111,538.80	
11/01/2028	77,000	5.680%	34,278.80	111,278.80	
11/01/2029	81,000	5.680%	29,791.60	110,791.60	
11/01/2030	86,000	5.680%	25,048.80	111,048.80	
11/01/2031	91,000	5.680%	20,022.00	111,022.00	
11/01/2032	97,000	5.680%	14,682.80	111,682.80	
11/01/2033	102,000	5.680%	9,031.20	111,031.20	
11/01/2034	108,000	5.680%	3,067.20	111,067.20	
	910,000		333,322.91	1,243,322.91	

May 1, 2023 11:14 am Prepared by DBC Finance	(Riverside Park CDD Refunding 2023:RP-2014F) Page 2

BOND DEBT SERVICE

Riverside Park Community Development District Special Assessment Refunding Bonds, Series 2014 (Fixed)

Period Ending	
Principal	
Coupon	
Interest	
Debt Service	Annual Debt Service	
11/01/2023			19,957.31	19,957.31	19,957.31	
05/01/2024	61,000	5.680%	25,844.00	86,844.00		
11/01/2024			24,111.60	24,111.60	110,955.60	
05/01/2025	65,000	5.680%	24,111.60	89,111.60		
11/01/2025			22,265.60	22,265.60	111,377.20	
05/01/2026	69,000	5.680%	22,265.60	91,265.60		
11/01/2026			20,306.00	20,306.00	111,571.60	
05/01/2027	73,000	5.680%	20,306.00	93,306.00		
11/01/2027			18,232.80	18,232.80	111,538.80	
05/01/2028	77,000	5.680%	18,232.80	95,232.80		
11/01/2028			16,046.00	16,046.00	111,278.80	
05/01/2029	81,000	5.680%	16,046.00	97,046.00		
11/01/2029			13,745.60	13,745.60	110,791.60	
05/01/2030	86,000	5.680%	13,745.60	99,745.60		
11/01/2030			11,303.20	11,303.20	111,048.80	
05/01/2031	91,000	5.680%	11,303.20	102,303.20		
11/01/2031			8,718.80	8,718.80	111,022.00	
05/01/2032	97,000	5.680%	8,718.80	105,718.80		
11/01/2032			5,964.00	5,964.00	111,682.80	
05/01/2033	102,000	5.680%	5,964.00	107,964.00		
11/01/2033			3,067.20	3,067.20	111,031.20	
05/01/2034	108,000	5.680%	3,067.20	111,067.20		
11/01/2034					111,067.20	
	910,000		333,322.91	1,243,322.91	1,243,322.91	

May 1, 2023 11:14 am Prepared by DBC Finance	(Riverside Park CDD Refunding 2023:RP-2014F) Page 3

BOND SUMMARY STATISTICS

Riverside Park Community Development District Special Assessment Refunding Bonds, Series 2014 (Fixed)

Dated Date	06/12/2023	
Delivery Date	06/12/2023	
Last Maturity	05/01/2034	
Arbitrage Yield
True Interest Cost (TIC)	
5.681334%	
Net Interest Cost (NIC)	5.680000%	
All-In TIC	5.681334%	
Average Coupon	5.680000%	
Average Life (years)	6.449	
Weighted Average Maturity (years)	6.449	
Duration of Issue (years)	5.290	
Par Amount	910,000.00	
Bond Proceeds	910,000.00	
Total Interest	333,322.91	
Net Interest	333,322.91	
Total Debt Service	1,243,322.91	
Maximum Annual Debt Service	111,682.80	
Average Annual Debt Service	114,211.85	
Underwriter's Fees (per $1000)		
Average Takedown Other Fee

Total Underwriter's Discount

Bid Price	100.000000

Bond Component	Par Value	
Price	Average Coupon	Average
Life	
Term 1	910,000.00	100.000	5.680%	6.449	
	910,000.00			6.449	

	All-In		Arbitrage	
	TIC		TIC		Yield	
Par Value	910,000.00		910,000.00		910,000.00	
+ Accrued Interest
+ Premium (Discount)
Underwriter's Discount
Cost of Issuance Expense
Other Amounts

Target Value	910,000.00		910,000.00		910,000.00	
Target Date	06/12/2023		06/12/2023		06/12/2023	
Yield	5.681334%		5.681334%			

RESOLUTION NO. 2023-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT; AUTHORIZING THE DISTRICT TO ISSUE A FIRST ADDENDUM TO THE DISTRICT’S SPECIAL ASSESSMENT REFUNDING BONDS, SERIES 2014; AUTHORIZING THE DISTRICT TO ENTER INTO A FIRST SUPPLEMENT TO TRUST INDENTURE FIXING THE INTEREST RATE ON SUCH BONDS THROUGH THE MATURITY THEREOF, REMOVING THE REQUIREMENT FOR A DEBT SERVICE RESERVE FUND AND OTHER RELATED MATTERS; DESIGNATING THE FIRST ADDENDUM TO BONDS AS A “BANK QUALIFIED OBLIGATION” WITHIN THE MEANING OF SECTION 265(b)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED; PROVIDING FOR CERTAIN COVENANTS AND AGREEMENTS IN CONNECTION THEREWITH; AND PROVIDING FOR CONFLICTS, SEVERABILITY AND AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors of the Riverside Park Community Development District (the “District”) previously issued its $1,630,000 Special Assessment Refunding Bonds, Series 2014, dated May 20, 2014, of which approximately $970,000 is currently outstanding after the May 1, 2023 (the “Bonds”) pursuant to an Indenture of Trust dated as of May 1, 2014, between the District and U.S. Bank Trust Company, National Association, as Trustee, successor in interest to U.S. Bank National Association (the “Trustee”); and

WHEREAS, the Bonds and the Indenture provide that the interest rate on the Bonds adjusts on May 1, 2024 and May 1, 2029; and

WHEREAS, the District desires to (a) fix the interest rate on the Bonds through their maturity date of May 1, 2034, (b) eliminate the requirement for a debt service reserve fund, and (c) partially redeem the current outstanding principal balance of the Bonds so that the annual assessment to property owners will not increase; and

WHEREAS, Centennial Bank (as successor in interest to Stonegate Bank), the purchaser of the Bonds, has submitted a Term Sheet to the District dated April 21, 2023, to provide such fixed interest rate, which is attached hereto as Exhibit “A” (the “ Term Sheet”); and

WHEREAS, the acceptance of the Term Sheet is in the best interest of the District; and

WHEREAS, the District desires to approve the forms of First Supplement to Indenture and First Addendum to Bonds to provide for the above.

NOW, THEREFORE, BE IT RESOLVED by the Board of Supervisors of the Riverside Park Community Development District, as follows:

INCORPORATION OF RECITALS. The recitals set forth are true and correct and form a part of this Resolution.

AUTHORITY. This Resolution is adopted pursuant to the provisions of Chapter 190, Florida Statutes and other applicable provisions of law.

DEFINITIONS. Terms used herein and not otherwise defined herein shall have the meaning ascribed to such terms in the Indenture.

AUTHORIZATION AND DESCRIPTION OF FIRST ADDENDUM TO BONDS.
Subject and pursuant to the provisions of this Resolution, the interest rate on the Bonds shall be fixed at a rate

1

not to exceed 5.68% per annum, from a date to be determined by the Chairperson or Vice Chairperson of the Board of Supervisor of the District (the “Chairperson”), but not later than June 30, 2023, through the maturity date of May 1, 2034. In addition, the District shall partially prepay the principal amount of the Bonds on such date so that the debt service on the principal amount outstanding after such prepayment can be paid without increasing the annual assessment to property owners. In connection therewith, the District approves the form of First Addendum to Bonds (the “First Addendum to Bonds”) attached as Exhibit “A” to the herein described First Supplement to Indenture.

The First Addendum to Bonds shall be dated the date of its execution and delivery, the approval by the District to be conclusively evidenced by the Chairperson’s execution thereof. The First Addendum to Bonds shall be executed on behalf of the District in the manner provided for the execution of the Bonds in the Indenture.

Because of the characteristics of the First Addendum to Bonds, prevailing market conditions, and the favorable interest rate to be realized from an award of the First Addendum to Bonds by negotiated sale, it is in the best interest of the District to award the First Addendum to Bonds to the Lender by negotiated sale in substantial accordance with the Term Sheet; provided, however, that the provisions of this Resolution, the First Supplement to Indenture and the First Addendum to Bonds shall control to the extent of any conflict with the Term Sheet.

FIRST SUPPLEMENT TO INDENTURE. Notwithstanding any other provision hereof, the First Addendum to Bonds shall not be issued nor shall the District be obligated to issue the same nor shall the Lender be obligated to accept the same, unless and until the District and the Trustee shall execute the First Supplement to Indenture in substantially the form attached hereto as Exhibit “B” (the “First Supplement to Indenture”), together with such changes as shall be approved by the Chairperson, such approval to be conclusively evidenced by the execution thereof by the Chairperson. The First Supplement to Indenture shall be executed on behalf of the District with the manual signature of the Chairperson, attested with the seal of the District and by the manual signature of the Secretary or Assistant Secretary.

BANK QUALIFIED BONDS. The First Addendum to Bonds is hereby designated by the District as a “qualified tax-exempt obligation” within the meaning of Section 265(b)(3) of the Code.

LIMITATION OF RIGHTS. With the exception of any rights herein expressly conferred, nothing expressed or mentioned in or to be implied from this Resolution or the First Addendum to Bonds is intended or shall be construed to give to any Person other than the District, the Lender and the Trustee any legal or equitable right, remedy or claim under or with respect to this Resolution or any covenants, conditions and provisions herein contained; this Resolution and all of the covenants, conditions and provisions hereof being intended to be and being for the sole and exclusive benefit of the District, the Lender and the Trustee.

APPLICABLE PROVISIONS OF LAW. This Resolution shall be governed by and construed in accordance with the laws of the State.

9	CAPTIONS.  The captions and headings in this Resolution are for convenience only and in no way define, limit or describe the scope or intent of any provisions or sections of this Resolution.

ADDITIONAL AUTHORIZATION. The Chairperson, the Secretary, and all other Supervisors, officers and staff of the District are hereby authorized and directed to take all actions necessary or desirable in connection with the issuance and delivery of the First Addendum to Bonds, and the consummation of all transactions in connection therewith, including the execution of all certificates, documents, papers, notices, and agreements necessary to the undertaking and fulfillment of all transactions referred to in or contemplated by the this Resolution. The Vice Chairperson is hereby authorized to act in the stead of the Chairperson in any undertaking authorized or required of the Chairperson hereunder, and in the absence of the Chairperson and Vice Chairperson, any other member of the District’s Board of Supervisors is so authorized, and any Assistant Secretary is hereby authorized to act in the stead of the Secretary in any undertaking authorized or required of the Secretary hereunder.

CONFLICTS. This Resolution shall be construed to the maximum extent possible to give full force and effect to its provisions. All District resolutions or parts thereof in actual conflict with this Resolution are, to the extent of such conflict, superseded and repealed.

SEVERABILITY. If any section or part of a section of this Resolution is declared invalid or unconstitutional, the validity, force and effect of any other section or part of a section of this Resolution shall not thereby be affected or impaired unless it clearly appears that such other section or part of a section of this Resolution is wholly or necessarily dependent upon the section or part of a section so held to be invalid or unconstitutional.

EFFECTIVE DATE.	This Resolution shall become effective upon its adoption.

[CONTINUED ON NEXT PAGE]

PASSED, ADOPTED and EFFECTIVE this 22nd day of May, 2023.

ATTEST:	RIVERSIDE	PARK	COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Chairperson / Vice Chairperson (SEAL)
Exhibit A;	Term Sheet
Exhibit B:	First Supplement to Indenture

FIRST SUPPLEMENT TO TRUST INDENTURE

This FIRST SUPPLEMENT TO TRUST INDENTURE, dated as of June 12, 2023 (the “First Supplement to Indenture”), by and between RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-purpose government organized and existing under the laws of the State of Florida (the “Issuer”) and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee, successor in interest to U.S. Bank National Association (together with any successor trustee hereunder and their respective successors and assigns, the “Trustee”), supplementing that certain Trust Indenture between the Issuer and the Trustee dated as of May 1, 2014 (the “Original Indenture,” and as supplemented hereby, the “Indenture”),

W I T N E S S E T H:

WHEREAS, the Issuer previously issued, pursuant to the Act (as defined in the Original Indenture) its $1,630,000 Special Assessment Refunding Bonds, Series 2014, dated May 15, 2014 (the “Bonds”) for the purpose of refunding the Series 2004 Bonds (as defined in the Original Indenture); and

WHEREAS, the Issuer desires to supplement the Original Indenture to (a) fix the interest rate on the Bonds through their maturity date of May 1, 2034, (b) eliminate the requirement for a debt service reserve fund, (c) provide that the Bonds may be redeemed in integral multiples of
$1,000 instead of $5,000, and (d) partially redeem the current outstanding principal balance of the Bonds so that the annual assessment to property owners will not increase; and

WHEREAS, the Issuer desires and has requested the Trustee to supplement the Original Indenture by making such changes, as more specifically set forth herein.

NOW, THEREFORE, in consideration of the premises and the mutual promises, representations and agreements herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree to supplement the Original Indenture as follows:

SECTION 1. SUPPLEMENT TO ARTICLE I OF ORIGINAL INDENTURE.

Article I – Definitions. The following definitions are deleted or modified as indicated

below:

The definition of “Debt Service Reserve Fund” is deleted.

The definition of Debt Service Reserve Fund Requirement” is deleted. “First Interest Rate Adjustment Date” shall mean June 12, 2023.
“Non-Bank Qualified Rate” shall mean, beginning on the First Interest Rate Adjustment Date, 5.93% per annum.

“Regular Interest Rate Adjustment Date” shall mean the First Interest Rate Adjustment
1

date.

“Second Interest Rate” shall mean 5.68% per annum.

The definition of “Second Interest Rate Adjustment Date” is deleted.

“Taxable Rate” shall mean, beginning on the First Interest Rate Adjustment Date, 7.50% per annum.

SECTION 2. SUPPLEMENT TO ARTICLE II OF ORIGINAL INDENTURE.

The second paragraph of Section 2.01 of the Original Indenture is hereby amended to

read as follows:

SECTION 2.01. Amounts and Terms of Bonds; Details of Bonds.

*	*    *
The Bonds shall be dated the date of their delivery, and, subject to the occurrence of an Adjustment Event pursuant to Section 2.01 hereunder, shall initially bear interest from such date at the Initial Interest Rate per annum until the First Interest Rate Adjustment Date. Subject to the occurrence of an Adjustment Event, on and after the First Interest Rate Adjustment Date, the Bonds shall bear interest at the Second Interest Rate, until the final maturity thereof or earlier redemption in full. Interest shall be payable on each Interest Payment Date commencing November 1, 2014, and the Bonds shall mature on May 1, 2034 (subject to the right of optional or extraordinary mandatory redemption and mandatory sinking fund redemptions as set forth in Section 6.01 hereof).

*	*    *

The last two paragraphs of Section 2.10 of the Original Indenture are hereby amended to read as follows:

SECTION 2.10. Adjustments to Interest Rate.

*	*    *
On the First Interest Rate Adjustment Date, the interest rate on the Bonds shall change to the Second Interest Rate of 5.68%. Subject to the occurrence of another Adjustment Event, the Bonds shall bear interest at the Second Interest Rate from the First Interest Rate Adjustment Date to the final maturity of the Bonds or the earlier redemption of the Bonds in full.

SECTION 3. SUPPLEMENT TO ARTICLE IV OF ORIGINAL INDENTURE.

Section 4.05 of the Original Indenture is hereby deleted in its entirety, and from and after the First Interest Rate Adjustment Date there shall be no Debt Service Reserve Fund for the Bonds. Any moneys in the Debt Service Reserve Fund on the First Interest Rate Adjustment

Date shall be transferred to the Bond Redemption Fund on such date and applied to the optional redemption of the Bonds on the date hereof.

SECTION 4. SUPPLEMENT TO ARTICLE VI OF ORIGINAL INDENTURE.

Section 6.01(a) of the Original Indenture is hereby amended to read as follows:

SECTION 6.01.	Redemption Dates and Prices.

*	*    *
(a) Optional Redemption.	The Bonds shall be subject to optional redemption at the option of the Issuer, in whole or in part, on any date, at a redemption price of par plus accrued interest to the redemption date. Provided, that if the Issuer or the Holder notifies the Trustee that the Bonds are being redeemed out of the proceeds of a loan from another lender, the Redemption Price shall be equal to 103% of the Outstanding principal amount of the Bonds to be redeemed if redeemed on or before May 1, 2024, 102% of the Outstanding principal amount of the Bonds to be redeemed if redeemed between May 1, 2024 and May 1, 2025, and 101% of the Outstanding principal amount of the Bonds to be redeemed if redeemed between May 1, 2025 and May 1, 2028, plus in all cases, accrued interest to the redemption date, upon receipt by the Trustee not less than fifteen (15) or more than twenty (20) days prior to such redemption date of a written direction from the Issuer stating that it intends to effect redemption of such Bonds.

Section 6.01(b) of the Original Indenture is hereby amended to provide that the amount on deposit in the Prepayment Account of the Bond Redemption Fund need only be increased by an amount sufficient to increase the amount therein to an integral multiple of $1,000 instead of $5,000.

The Mandatory Sinking Fund Redemption Schedule set forth in Section 6.01(c) of the Original Indenture is hereby revised as follows:

(c)   Mandatory Sinking Fund Redemption.

*	*	* Mandatory Sinking Fund
Date	Payment

May 1, 2024	$ 61,000	
May 1, 2025	65,000	
May 1, 2026	69,000	
May 1, 2027	73,000	
May 1, 2028	77,000	
May 1, 2029	81,000	
May 1, 2030	86,000	
May 1, 2031	91,000	

May 1, 2032	97,000	
May 1, 2033	102,000	
May 1, 2034*	108,000	

* Final Maturity

Section 6.01(c) of the Original Indenture is hereby amended to provide that in the event a change in the mandatory redemption schedule is required, such change is subject to rounding to an amount of principal devisable by $1,000 instead of $5,000.

SECTION 5.	INDENTURE	TO	REMAIN	IN	FULL	FORCE	AND
EFFECT. The Original Indenture shall remain in full force and effect, as supplemented hereby. Future references to the “Indenture” shall refer to the Original Indenture as supplemented by this First Supplement to Indenture unless expressly stated to the contrary.

SECTION 6. EFFECTIVE DATE.	This First Supplement to Indenture shall take effect as of the day and year first above written.

[Execution pages follow]

IN WITNESS WHEREOF, the parties hereto have caused this First Supplement to Trust Indenture to be executed by their duly authorized officers all as of the date and year first set forth above.

RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT

By:		 Chairperson, Board of Supervisors

[SEAL]

Attest:

By: 		 Secretary, Board of Supervisors

U.S. BANK TRUST COMPANY, NATIONAL
ASSOCIATION, as Trustee, Paying Agent and Registrar, successor in interest to U.S. Bank National Association,

Approved this 12th day of June, 2023. CENTENNIAL BANK
By: 		 Jodi Baird, Senior Vice President

By:		 Vice President

FIRST ADDENDUM TO BONDS

R-1	$910,000.00

UNITED STATES OF AMERICA STATE OF FLORIDA
COUNTY OF MIAMI-DADE
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT REFUNDING BOND
SERIES 2014

Dated: June 12, 2023	ORIGINAL PRINCIPAL AMOUNT - $1,630,000

The Special Assessment Refunding Bonds, Series 2014, dated May 20, 2014 (the “Bonds”) issued by the Tree Island Community Development District (the “Issuer”) and held by Centennial Bank, as successor to Stonegate Bank.(the “Holder”) is modified in the following respects, effective May 15, 2023:

The interest rate on the Bonds shall be fixed at 5.68% from the date hereof through the maturity date of May 1, 2034.

Optional Redemption.	The Bonds shall be subject to optional redemption at the option of the Issuer, in whole or in part, on any date, at a redemption price of par plus accrued interest to the redemption date. Provided, that if either the Issuer or the Holder notifies the Trustee that the Bonds are being redeemed out of the proceeds of a loan from another lender, the Redemption Price shall be equal to 103% of the Outstanding principal amount of the Bonds to be redeemed if redeemed on or before May 1, 2024, 102% of the Outstanding principal amount of the Bonds to be redeemed if redeemed between May 1, 2024 and May 1, 2025, and 101% of the Outstanding principal amount of the Bonds to be redeemed if redeemed between May 1, 2025 and May 1, 2028, plus in all cases, accrued interest to the redemption date.

Mandatory Sinking Fund Redemption.	The Mandatory Sinking Fund Redemption Fund schedule set forth in the Bonds is revised as follows:

Mandatory Sinking
Date	Fund Payment

May 1, 2024	$	61,000
May 1, 2025	65,000
May 1, 2026	69,000
May 1, 2027	73,000

1

Mandatory Sinking
Date	Fund Payment

May 1, 2028	$  77,000	
May 1, 2029	81,000	
May 1, 2030	86,000	
May 1, 2031	91,000	
May 1, 2032	97,000	
May 1, 2033	102,000	
May 1, 2034*	108,000	

* Final Maturity

IN WITNESS WHEREOF, Riverside Park Community Development District has caused this First Addendum to Bond to be signed by the manual signature of the Chairperson of its Board of Supervisors and its seal to be imprinted hereon, and attested by the manual signature of the Secretary of the Board of Supervisors, all as of the date hereof.

RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT

By: 		 Chairperson, Board of Supervisors

(SEAL)

Attest:

By: 		 Secretary, Board of Supervisors:

Consented to as of the effective day and year first above written. CENTENNIAL BANK
By:		 Jodi Baird, Senior Vice President

2

CERTIFICATE OF AUTHENTICATION

This First Addendum to Bond is delivered pursuant to the within mentioned Indenture.

Date of Authentication: June   , 2023.

U.S. BANK TRUST COMPANY, NATIONAL
ASSOCIATION, as Trustee, successor in interest to
U.S. Bank National Association

By: 		 Authorized Signatory

3

RESOLUTION NO. 2023-03

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT AMENDING RESOLUTION NO. 2023-02; AMENDING THE DATE AND TIME FOR THE PUBLIC HEARING TO CONSIDER THE FISCAL YEAR 2023/2024 FINAL BUDGET AND ASSESSMENTS AND AUTHORIZING THE SECRETARY AND DISTRICT MANAGER TO TAKE CERTAIN ACTIONS TO ACCOMPLISH THE INTENT OF THIS RESOLUTION; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (“Board”) of the Riverside Park Community Development District (the “District”) is required by Chapter 190.008, Florida Statutes, to approve a Proposed Budget for each fiscal year; and

WHEREAS, the Board previously adopted Resolution 2023-02 approving a proposed budget and setting a public hearing for May 22, 2023; and

WHEREAS, redacting the actions taken with Resolution 2023-02 due to changes to the previously approved FY 2023-2024 Proposed Budget, said public hearing had to be re-advertised and rescheduled; and

WHEREAS, the public hearing has been rescheduled for June 26, 2023, and all other requirements and filings associated with the preparation of the fiscal year budget have been completed.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT, THAT:

Resolution No. 2023-02 is hereby amended to change the date and time of the Public Hearing to July 24, 2023 at 6:30 p.m. in the Mercedes Benz of Cutler Bay, 10701 SW 211th Street, Cutler Bay, Florida 33189, for the purpose of receiving public comments on the Proposed Fiscal Year 2023/2024 Budget.

The Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with all applicable notice requirements.

PASSED, ADOPTED and EFFECTIVE this 22nd day of May, 2023.

ATTEST:	RIVERSIDE PARK
COMMUNITY DEVELOPMENT DISTRICT

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

Riverside Park Community Development District

Financial Report For April 2023

Riverside Park Community Development District
Budget vs. Actual
October 2022 through April 2023

	Oct '22 - Apr 23		22/23 Budget		$ Over Budget		% of Budget	
Income								
363.100 ꞏ Admin Assessments	61,246.27		62,152.00		-905.73		98.54%	
363.101 ꞏ Maintenance Assessments	38,539.31		39,191.00		-651.69		98.34%	
363.810 ꞏ Debt Assessments	118,763.85		120,339.00		-1,575.15		98.69%	
363.820 ꞏ Debt Assessment-Paid To Trustee	-113,042.80		-113,119.00		76.20		99.93%	
363.830 ꞏ County Tax Collector Fee	-2,099.84		-4,434.00		2,334.16		47.36%	
363.831 ꞏ Discounts For Early Payments	-8,436.73		-8,867.00		430.27		95.15%	
369.401 ꞏ Interest Income	4,162.79		240.00		3,922.79		1,734.5%	
Total Income	99,132.85		95,502.00		3,630.85		103.8%	
Expense								
511.122 ꞏ PR Tax Expense	183.60		480.00		-296.40		38.25%	
511.131 ꞏ Supervisors Fees	2,400.00		6,000.00		-3,600.00		40.0%	
511.302 ꞏ Border Hedge/Monument/Fence	0.00		8,275.00		-8,275.00		0.0%	
511.303 ꞏ Nutritional Control/Mulch	0.00		3,500.00		-3,500.00		0.0%	
511.307 ꞏ Lawn/Landscape Maintenance	8,543.75		16,500.00		-7,956.25		51.78%	
511.308 ꞏ Miscellaneous Maintenance	0.00		6,064.00		-6,064.00		0.0%	
511.309 ꞏ Entrance Features	0.00		1,000.00		-1,000.00		0.0%	
511.310 ꞏ Engineering	0.00		1,500.00		-1,500.00		0.0%	
511.311 ꞏ Management Fees	11,508.00		19,728.00		-8,220.00		58.33%	
511.312 ꞏ Secretarial Fees	1,575.00		2,700.00		-1,125.00		58.33%	
511.315 ꞏ Legal Fees	2,815.50		8,000.00		-5,184.50		35.19%	
511.318 ꞏ Assessment/Tax Roll	0.00		3,500.00		-3,500.00		0.0%	
511.320 ꞏ Audit Fees	0.00		3,600.00		-3,600.00		0.0%	
511.450 ꞏ Insurance	5,926.00		6,205.00		-279.00		95.5%	
511.480 ꞏ Legal Advertisements	298.08		650.00		-351.92		45.86%	
511.512 ꞏ Miscellaneous	283.34		825.00		-541.66		34.34%	
511.513 ꞏ Postage and Delivery	70.95		200.00		-129.05		35.48%	
511.514 ꞏ Office Supplies	142.37		500.00		-357.63		28.47%	
511.516 ꞏ Website Management Fee	1,020.81		1,750.00		-729.19		58.33%	
511.540 ꞏ Dues, License & Subscriptions	175.00		175.00		0.00		100.0%	
511.733 ꞏ Trustee Fees	0.00		4,100.00		-4,100.00		0.0%	
511.734 ꞏ Continuing Disclosure Fee	0.00		250.00		-250.00		0.0%	
Total Expense	34,942.40		95,502.00		-60,559.60		36.59%	
Net Income		64,190.45			0.00			64,190.45			100.0%	

RIVERSIDE PARK COMMUNITY DEVELOPMENT DISTRICT MONTHLY FINANCIAL REPORT
APRIL 2023

REVENUES	
Annual Budget
10/1/22 - 9/30/23	

Actual Apr-23	
Year To Date Actual
10/1/22 - 4/30/23	
Administrative Assessments	62,152	1,460	61,246	
Maintenance Assessments	39,191	920	38,539	
Debt Assessments	120,339	2,826	118,764	
Other Revenue	0	0	0	
Interest Income	240	0	4,163	
				
Total Revenues	$	221,922	$	5,206	$	222,712	
				
EXPENDITURES				
MAINTENANCE EXPENDITURES				
Lawn/Landscape Maintenance	16,500	900	8,544	
Entrance Features	1,000	0	0	
Miscellaneous Maintenance/Improvements	6,064	0	0	
Border Hedge/Monument/Fence	8,275	0	0	
Nutritional Control/Mulch	3,500	0	0	
Engineering/Inspections	1,500	0	0	
Contingency/Reserve ($16,270 Available)*	0	0	0	
TOTAL MAINTENANCE EXPENDITURES	$	36,839	$	900	$	8,544	
				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	6,000	800	2,400	
Payroll Taxes - Employer	480	61	184	
Management	19,728	1,644	11,508	
Secretarial	2,700	225	1,575	
Legal	8,000	0	2,816	
Assessment Roll	3,500	0	0	
Audit Fees	3,600	0	0	
Insurance	6,205	0	5,926	
Legal Advertisements	650	103	298	
Miscellaneous	825	85	283	
Postage	200	30	71	
Office Supplies	500	75	142	
Dues & Subscriptions	175	0	175	
Trustee Fee	4,100	0	0	
Continuing Disclosure Fee	250	0	0	
Website Management	1,750	147	1,020	
TOTAL ADMINISTRATIVE EXPENDITURES	$	58,663	$	3,170	$	26,398	
				
Total Expenditures	$	95,502	$	4,070	$	34,942	
				
Revenues Less Expenditures	$	126,420	$	1,136	$	187,770	
				
Bond Payments	(113,119)	(2,798)	(113,043)	
				
Balance	$	13,301	$	(1,662)	$	74,727	
				
County Appraiser & Tax Collector Fee	(4,434)	(52)	(2,100)	
Discounts For Early Payments	(8,867)	0	(8,437)	
				
Excess/ (Shortfall)	$	-	$	(1,714)	$	64,190	
				
Carryover From Prior Year	0	0	0	
				
Net Excess/ (Shortfall)	$	-	$	(1,714)	$	64,190	

* Contingency/Reserve Funds Can Be Used In Fiscal Year 22/23 or in Future Fiscal Years. Original Balance = $36,680. Current Balance = $16,270.

Bank Balance As Of 4/30/23	$	352,929.48	
Accounts Payable As Of 4/30/23	$	7,754.22	
Accounts Receivable As Of 4/30/23	$	-	
Reserve Funds As Of 4/30/23	$	16,270.00	
Available Funds As Of 4/30/23	$	328,905.26	

RIVERSIDE PARK CDD TAX COLLECTIONS 2022-2023

#	

ID#	

PAYMENT FROM	

DATE	

FOR	

Tax Collect Receipts	

Interest Received	

Fees	

Discount	

Net From Tax Collector	Admin Assessment Income (Before Discounts & Fees)	Maint Assessment Income (Before Discounts & Fees)	Debt Assessment Income (Before Discounts & Fees)	Admin Assessment Income (After Discounts & Fees)	Maint Assessment Income (After Discounts & Fees)	Debt Assessment Income (After Discounts & Fees)	

Debt Assessment Paid to Trustee	
									$	221,682	$	62,152	$	39,191	$	120,339	$	62,152	$	39,191	$	120,339		
									$	208,621	$	58,663	$	36,839	$	113,119	$	58,663	$	36,839	$	113,119	$	113,119	
1	1	Miami-Dade Tax Collector	11/23/22	NAV Taxes	$	9,650.99		$	(92.62)	$	(389.28)	$	9,169.09	$  2,706.09	$	1,706.30	$	5,238.60	$  2,572.24	$	1,619.80	$	4,977.05	$	4,977.05	
2	2	Miami-Dade Tax Collector	11/25/22	NAV Taxes	$	7,610.12		$	(73.06)	$	(304.43)	$	7,232.63	$  2,122.26	$	1,338.26	$	4,149.60	$  2,016.43	$	1,271.60	$	3,944.60	$	3,944.60	
3	3	Miami-Dade Tax Collector	12/07/22	NAV Taxes	$  172,265.64		$ (1,653.74)	$  (6,891.00)	$	163,720.90	$ 48,205.62	$	30,397.62	$	93,662.40	$ 45,810.58	$  28,887.52	$	89,022.80	$	89,022.80	
4	4	Miami-Dade Tax Collector	12/22/22	NAV Taxes	$	9,784.44		$	(94.04)	$	(380.53)	$	9,309.87	$  2,728.62	$	1,720.62	$	5,335.20	$  2,595.67	$	1,636.80	$	5,077.40	$	5,077.40	
5	5	Miami-Dade Tax Collector	01/11/23	NAV Taxes	$	11,729.09		$  (112.79)	$	(449.75)	$	11,166.55	$  3,288.84	$	2,073.70	$	6,366.55	$  3,132.60	$	1,972.75	$	6,061.20	$	6,061.20	
6	Int - 1	Miami-Dade Tax Collector	02/13/23	Interest		$  128.71			$	128.71	$	128.71			$	128.71			$	-	
7	6	Miami-Dade Tax Collector	03/08/23	NAV Taxes	$	2,174.32		$	(21.53)	$	(21.74)	$	2,131.05	$	606.36	$	382.36	$	1,185.60	$	594.25	$	374.70	$	1,162.10	$	1,162.10	
8	7	Miami-Dade Tax Collector	04/07/23	NAV Taxes	$	5,206.12		$	(52.06)		$	5,154.06	$  1,459.77	$	920.45	$	2,825.90	$  1,445.31	$	911.10	$	2,797.65	$	2,797.65	
9									$	-							$	-	
10									$	-							$	-	
11									$	-							$	-	
12									$	-							$	-	
13									$	-							$	-	
14									$	-							$	-	
15									$	-							$	-	
16									$	-							$	-	
					$ 218,420.72	$ 128.71	$ (2,099.84)	$ (8,436.73)	$	208,012.86	$ 61,246.27	$  38,539.31	$ 118,763.85	$ 58,295.79	$  36,674.27	$ 113,042.80	$  113,042.80	

Assessment Roll = $221,682.20	Note: $221,682, $62,152, $39,191 and $120,339 are 2022/2023 Budgeted assessments before discounts and fees.
Note: $208,621, $58,663, $36,839 and $113,119 are 2022/2023 Budgeted assessments after discounts and fees.

$	218,420.72		
$	128.71	$  208,012.86	
$	(61,246.27)	$  (58,295.79)	
$	(38,539.31)	$  (36,674.27)	
$	(118,763.85)	$ (113,042.80)	
$	-	$	-

Riverside Park Community Development District Contingency/Reserve Expenditures
October 2015 - April 2023

	Date		Invoice #		Vendor		Description		Amount	
Contingency/Reserve										
	10/15/2015		Inv# 10152015863		Jag Painting Contractors Inc.		Deposit for invoice 10152015863 (Cleaning & Painting)		2,450.00	
	11/01/2015		Inv# 10152015863A		Jag Painting Contractors Inc.		Final Payment for invoice 10152015863 (Cleaning & Painting)		2,450.00	
	12/07/2015		Inv# 8624		Crespo Lawn Service, Inc.		Installation Of 16 Solar Power Lights		1,210.00	
	02/22/2018		Inv #1304		Royal Plastering Corp.		Fence Repairs & Replacement		14,300.00	

0.00
Total	20,410.00

Original Funds Available For Contingency/Reserve	
Contingency/Reserve Expenditures As Of 4/30/23	
Contingency/Reserve Funds Balance As Of 4/30/23	

$ 36,680.00	
$ 20,410.00	
$ 16,270.00