Reunion East Community Development District

Agenda November 14, 2019

Reunion East
Community Development District

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

November 7, 2019

Board of Supervisors Reunion East Community Development District

Dear Board Members:

The regular meeting of the Board of Supervisors of the Reunion East Comm.unity Development District will be held Thursday, November 14, 2019 at 1:00 p.m. at the Heritage Crossing Community Center, 7715 Heritage Crossing Way, Reunion, FL. Following is the advance agenda for the meeting:

Roll Call
Public Comment Period
Approval of the Minutes of the October 10, 2019 Meeting
Discussion of Keyed Entry at Pools
Authorization to Set Rule & Rate Hearing for Room Rentals
Ratification of Management Services Agreement with Kingwood Orlando Reunion Resort, LLC
Staff Reports
Attorney
Engineer
.C. District Manager's Report
Action Items Lists
Approval of Check Register
Balance Sheet and Income Statement
1v. Status of Direct Bill Assessments
Presentation of Arbitrage Rebate Calculation Reports
Presentation of Revised Number of Registered Voters - 454
Other Business
Supervisor's Requests
Next Meeting Date
Adjournment

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

The third order of business is the approval of the minutes of the October 10, 2019 meeting. The minutes are enclosed for your review.

The fourth order of business is the discussion of keyed entry at the District pools. An e-mail of proposed costs for installation is enclosed for your review.

The fifth order of business is the authorization to set a rule and rate hearing for room rentals at the Heritage Crossing Community Center. The draft rules and rates will be provided under separate cover.

The sixth order of business is the ratification of the Management Service Agreement for Heritage Crossing Community Center and Horse Stables with Kingwood Orlando Reunion Resort, LLC. A copy of the agreement is enclosed for your review.

The seventh order of business is Staff Reports. Section 1 of the District Manager's Report is the presentation and discussion of the action items lists. Copies of the lists are enclosed for your review. Section 2 includes the check register for approval and Section 3 includes the balance sheet and income statement for review. Section 4 is the discussion of the status of the direct bill assessment collections. A table with the direct bill information is enclosed for your review. Section 5 is the presentation of the arbitrage rebate calculation reports for the Series 2015A, 2015-1, 2015-2 & 2015-3 bonds. Copies of the reports are enclosed for your review. Section 6 is the presentation of the revised number of registered voters. A copy of the letter from the Supervisor of Elections is enclosed for your review.

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

George S. Flint District Manager

Cc:		Jan Carpenter, District Counsel Steve Boyd, District Engineer

Enclosures

M INUTES

MINUTES OF MEETING REUNION EAST
COMMUNITY DEVELOPMENT DISTRICT

The Regular meeting of the Board of Supervisors of the Reunion East Community Development District was held Thursday, October 10, 2019 at 1:00 p.m. at the Heritage Crossing Community Center, 7715 Heritage Crossing Way, Reunion, Florida.

Present and constituting a quorum were:

Mark Greenstein Don Harding John Dryburgh Trudy Hobbs

Chairman
Vice Chairman Assistant Secretary Assistant Secretary

Also present were:

George Flint Andrew d' Adesky
Xabier Guerricogoitia Alan Scheerer
John Cruz Rob Stultz

FIRST ORDER OF BUSINESS

District Manager District Counsel Boyd Engineering Field Manager CWS Security
Yellowstone Landscape

Roll Call

Mr. Flint called the meeting to order, four of the Board members were present constituting a quorum.

SECOND ORDER OF BUSINESS	Public Comment Period
Mr. Flint: Are there any members of the public that would like to provide comment to the Reunion East Board? Hearing none, we will move to the next item.

THIRD ORDER OF BUSINESS	Approval of the Minutes of the September 12,
2019 Meeting
Mr. Flint: We have approval of minutes from the September 12th meeting. Did the Board have any comments on those?
Mr. Harding: I think there's some confusion as to who said what, but I don't think we need to get into it.

October IO, 20I9	Reunion East COD

On MOTION by Mr. Harding seconded by Mr. Dryburgh with all in favor, the Minutes of the September 12, 2019 Board of Supervisors Meeting were approved.

Mr. Greenstein: There were no substantive changes.

FOURTH ORDER OF BUSINESS	Consideration	of   Resolution	2020-01 Re­
Setting a Public Hearing for the Purpose of Towing Rules and Policies
Mr. Flint: At the last meeting the Board discussed setting the public hearing and consider the parking and towing policy. Then subsequent to the last meeting, I think Mr. Goldstein realized he had a conflict with the date that was chosen. He thought it was important that he be there at the hearing and asked that we re-consider changing the date. We tried to coordinate schedules outside of the meeting. The resolution has November 2ist at 7:00 p.m. in here. However, my recommendation would be to push it, if possible, into December. The week of the week of the 16th•    The Board has to adopt a room rental fees for Heritage Crossing and the Stables related to the MSA and if you are able to push it into December that would allow the Board, at your November meeting, to approve the proposed policy and rates. Then we could  advertise them together, because the notice requirements for rule hearing are somewhat expensive.
Mr. d'Adesky: So, the 16th is a Monday, but we are just saying that week. So, between
the 16th and the 20th• I prefer not Friday.
Mr. Greenstein: How's Thursday the 19th?
Mr. d'Adesky: Thursday is great. You guys want it 7:00 p.m., right? Mr. Greenstein: Yes, I think it should be.
Mr. Flint: Or you could do it a little earlier if you wanted to. Hopefully, it works for
Steve.
Mr. Greenstein: The rate setting hearing I would expect to be more straight forward. Mr. d'Adesky: You never know.
Mr. Greenstein: I know you never know, but I'm just saying it's not going to be
anywhere near the level of concern that we are going to get from the public relative to the parking and towing.
Mr. Flint: Hopefully Mr. Goldstein is available on the 19th•
Mr. d' Adesky: Everybody here is available, so that gives us a quorum.

2

Mr. Flint: So, if the Board is ok with that we would just change November 2ist to December 19th•

On MOTION by Mr. Dryburgh seconded by Mr. Greenstein  with all in favor, Resolution 2020-01 Resetting the Public Hearing for the Purpose of Towing Rules and Policies for December 19, 2019 at 7:00 p.m., was approved.

FIFTH ORDER OF BUSINESS	Authorization to Set Rule and Rate Hearing
for Use of District Facilities
Mr. Flint: The Rule and Rate Hearing for Use of District Facilities, I would like to have that on the November agenda. That's the room rental rate issue. If you approve the draft policy in November, we can hold that hearing on the same day as the towing. Again as Mr. Greenstein indicated, that shouldn't be a lengthy discussion.

SIXTH ORDER OF BUSINESS	Ratification	of	Proposal	from	GeoPoint
Surveying	to	Provide	Boundary	Survey Services
Mr. Flint: The GeoPoint surveying for the boundary, this is related to the dog park and playground. The land area where the proposed dog park and playground are is owned by the resort and we were proposing to do an easement agreement that would allow us to construct the playground and the dog park. As part of that, a survey was required and it cost $1,200. I agreed to that, it's a good price for a survey for a commercial situation.

On MOTION by Mr. Harding, seconded by Mr. Dryburgh with all in favor, the Proposal from GeoPoint Surveying to Provide Boundary Survey services, was ratified.

SEVENTH ORDER OF BUSINESS	Consideration	of	Playground/Dog	Park
Easement
Mr. Flint: The next item is related to the previous. We did get the survey within the last few days. The survey that was prepared was of the entire parcel. Kingwood was directing the surveyor in this effort.
Mr. Dryburgh: Do we have to pay to have the survey redone so it's accurately reflecting?

3

Mr. Flint: Well, we have to have that conversation with Mr. Nassar, because when we got the survey I saw that it was the entire parcel. If he wants to give us an easement over the entire parcel, that's fine.
Mr. d' Adesky: We're happy with that.
Mr. Flint: The whole reason for the exercise was that you potentially have the ability to build a home in two locations, and so I suggested they carve those out of the easement and only do the easement on the center. But right now, we've got a legal description of the entire thing. I emailed him yesterday asking for clarification and I have not gotten a response  back. Once we get the legal description it's a simple matter on the easement, I think Andrew already has it drafted.
Mr. d'Adesky: Yes, the form isn't the issue, it's really the section in the legal that  we need. I think we've already gotten an authorization, but if you want to just do an authorization to the Chairman and the Vice Chairman to finalize and execute the easement once it's compiled.

On MOTION by Mr. Dryburgh, seconded by Ms. Hobbs, with all in favor, Authorization for Chairman and Vice Chairman to Execute the Easement once Compiled, was approved.

EIGHTH  ORDER OF BUSINESS	Consideration	of	Resolution	2020-02
Declaring Intent to Accept Dedications on the Plat Reunion Village Phase 3
Mr. d' Adesky: The next was Resolution 2020-02 which was just a standard resolution. Anytime there's a plat in Osceola County, they now require any entity that's going to  be accepting dedications to have a resolution showing our intent to accept. Which doesn't mean we actually will accept, it just means we have the intention to accept those subject to our own procedures. It's just really more administrative paperwork that Osceola is making us do. They've asked us to do it, we've looked at the plat and it doesn't seem overly problematic. And, once again, it doesn't really commit us to too much legally.
Mr. Greenstein: Were you able to identify any changes from the original?
Mr. d' Adesky: Ifl'm right, this is an update. I don't think there were many at all.
Mr. Flint: The location of the resident only gate is not on this plat.
Mr. d'Adesky: Nothing to do with this. So, we would ask for approval here.

4

On MOTION by Mr. Greenstein, seconded by Mr. Harding, with all in favor, Resolution 2020-02 Declaring Intent to Accept Dedications on the Plat Reunion Village Phase 3, was approved.

NINTH ORDER OF BUSINESS	Consideration	of   Amended	and Restated
Security Services Provider Agreement with the Reunion Resort & Club of Orlando Master Association
Mr. d' Adesky: Next is the amended and restated Security Services Provider Agreement. This is essentially the older agreement. I think I provided a copy last meeting as well. This meeting it was updated to include certain provisions that were negotiated with Kingwood. Supervisor Harding provided some provisions which I put in there and finalized. Do you have any comments?
Mr. Harding: Mark noticed a couple of things.
Mr. Greenstein: I think it moves us in the right direction. It gets the focus on the things that are important to us, maintaining security at a level that took us a while to achieve. In 7A it refers to the main entry guardhouse. Right now, we have three entry guardhouses that are all staffed 24 hours a day. So, it's not just not one and there will be a fourth with Reunion Village. So, if you don't want to put a number in, you could say staff all entry guard houses and just leave it at that.
Mr. d'Adesky: I guess the issue is if there's a guardhouse. If there's a guardhouse, it should be named.
Mr. Greenstein: The main thing is to indicate it's not just one, it's all entry guardhouses.
Mr. d' Adesky: These are minor. We'll finalize that and compile it and sent it over to them. We can sign it and send it over to them and say look these are the changes. So, we can approve it subject to the changes.

On MOTION by Mr. Greenstein, seconded by Ms. Hobbs, with all in favor, the Amended and Restated Security Services Provider Agreement with the Reunion Resort & Club of Orlando Master Association, was approved.

TENTH ORDER OF BUSINESS	Consideration of Security Services Interlocal
Mr. d' Adesky: The next is the Security Services Interlocal, it's the same thing that was approved at West, it pretty much just says that they consent to you guys entering into a Security

5

On MOTION by Mr. Harding seconded by Mr. Dryburgh, with all in favor, the Security Services Interlocal Agreement, was approved.

Services Agreement. Since you guys approved the agreement, you kind of have to approve this one.

ELEVENTH  ORDER OF BUSINESS	Consideration	of
Agreement	with Management, Inc.

Aquatic	Maintenance Applied	Aquatic

Mr. Scheerer: In your agenda packets the Proposal for Applied Aquatic to provide pond maintenance services for the pond located Patriots landing. The term of the agreement is from 101/19 through 9/30/20. There is no increase during that time frame. It was noted in the previous meeting that they do have and option at the end of this term to increase the contract by 3%. However, they rarely have exercised that, and they will let us now if they choose to exercise it which will in affect the contract so, if the Board so chooses to bid it out.

On MOTION by Mr. Harding seconded by Mr. Greenstein with all in favor, the Aquatic Maintenance Agreement with Applied Aquatic Management, Inc, was approved.

TWELTH  ORDER OF BUSINESS	Consideration of Agreement with Grau &
Associates to Provide Auditing Services for the Fiscal Year 2019
Mr. Flint: The next is the agreement with Grau & Associates for the 2019 audit.
Steve Goldstein joined the meeting via phone.
Mr. d'Adesky: Regarding the audit, there's a very limited pool that do this type of audit because it's very specific auditing. We have certain disclosures we need. So, there's certain companies.
Mr. Flint: We've already been through the audit selection process. We ran a notice and we also mailed it out. There are about five or six firms that do 95% of these. I think only got a couple of responses. The pool is shrinking and it's because the fees are such that a lot of these firms aren't able to make money on it. Grau does the most, they do over 200 CDD  audits. They're the most experienced. But we did go through that formal bidding process.
Mr. d' Adesky: The contracts are written so they can be year to year. They price several years out so we lock them in at the rate, but we can terminate them next year if we wanted.

6

Mr. Flint: Ifwe had a problem with this audit we can bid it out again. We are locking in 5 years, but we are only entering into the annual engagements. Any questions on the Grau Agreement? Is there a motion of approve it?

On MOTION by Mr. Greenstein seconded by Mr. Dryburgh  with all in favor the Agreement with Grau & Associates to Provide Auditing Services for the Fiscal Year 2019, was approved.

TIDRTEENTH ORDER OF BUSINESS	Consideration of Proposal from Fausnight
Stripe & Line for Cross Walks and  Stop Signs
Mr. Flint: Next is the proposal from Fausnight Stripe & Line and, as was discussed in Reunion West, this covers the two four way stop signs that the Board discussed. One in East, one in West, and includes the additional crosswalk in front of the resort. It includes the striping and signage for a crosswalk on Reunion Boulevard. It sounds like a lot, but the decorative poles are probably a $1,000 a piece.
Mr. Scheerer: They are mimicking the way the signs are currently. If you look at the signs in Reunion the black pole, there's a black back plate and there's a base. That totals up to a lot of money.
Mr. Flint: And Fausnight is by far the best contractor out there that does this kind of
work.

On MOTION by Mr. Harding seconded by Mr. Greenstein, with all in favor, the Proposal from Fausnight Stripe & Line for Cross Walks and Stop Signs, was approved.

Mr. Dryburgh: I did have a question. It sounds crazy, but we are doing both East and West in one bill. Do you split it?
Mr. d' Adesky: We split it per the interlocal, it's based on platted units.
Mr. Flint: We have a lot of agreements that are just with one district or the other and then when we pay them, we allocate the funds.

FOURTEENTH ORDER OF BUSINESS	Discussion of Keyed Entry at Pools
Mr. Flint: I think this was talked about at a prior meeting and Mr. Dryburgh interfaced with the resort and has some information for the Board.

7

Mr. Dryburgh: Yes, we got a copy of the costs. I never got the impression that the CDD would want to or have the staff to manage this process.
Mr. Flint: I agree, because I think you want to use a system where someone doesn't have to carry around five different cards. One to get in the front gate, one to get in the water park, one to get in the CDD pool.
Mr. Dryburgh: That's shifting from one spot to another to get their access code.
Mr. Flint: Exactly. So, it would be ideal to use the system compatible with what the resort is using and then hopefully have the resort agree that they would issue them on our behalf. They are issuing them anyway to a lot of folks, and they can control the access on each part.
Mr. Dryburgh: Question, I thought it was $10, this cost us $2 bucks to make, so they're making $8 dollar per card. And if you've got a thousand people, you've got $8,000. It seems to me we should go back and ask if we could make them $5. Unless we are going to get share of some of that profit will that will reimburse us the cost of the gates.
Mr. Flint: Well, the administration of that is important to us. Mr. Dryburgh: How hard is it, it's all computer based.
Mr. Flint: It's not difficult, we do it for a lot of communities out of our office.
Mr. d' Adesky: It still takes time to set up and administer. We have other districts where they charge $25 per entry key.
Mr. Dryburgh: Are they using it as a profit?
Mr. Flint: No, you can't make a profit as a government entity. Mr. d' Adesky: No, I'm saying the District is charging $25.
Mr. Flint: In this case if you are going to have the resort issuing the card, you may decide to allow the resort to keep the revenue as payment for their administrative costs. And it would all be the same card, it's just they have different access rights on different cards, depending on who the person is.
Mr. Greenstein: I don't have a problem endorsing the resort managing on our behalf, but
$10 is more than reasonable for the administrative fee. If it was $25 bucks then maybe we'd be talking about it because we do have a lot of residents, but I think $10 is reasonable.
Mr. Dryburgh: But they're going to have to issue cards to each one of the residents as
well.
Mr. d'Adesky: This could be some work.

Mr. Greenstein: Well, if you look at our cards now, I'm walking around with a member card that's from the year of the flood. Which card would it be that gives you the universal access? Is it the prox card? Could the prox card be coded too allow access for the pool?
Mr. Cruz: No, it would be the RFID card.
Mr. Greenstein: So, it would be a different cards? The card that is used for the gates, the prox card, cannot be coded to serve the same purpose?
Mr. Cruz: Correct. The prox card is only able to be used at the gates.
Mr. Greenstein: At least this one card would give a resident, if they were a member, access to other controlled facilities within the resort complex as well as the CDD control to the facilities. As long as it's one card that gets them everywhere, that's good. The fact that it has nothing to do with the gates for traffic control isn't a big deal.
Mr. Scheerer: They already have the equipment in place to manage that because the email says ifwe wanted to do it, it would costs us and additional $7,500.
Mr. Greenstein: Well this it, no problem at all with the $10. Mr. Flint: We don't know, the resort hasn't agreed.
Mr. Harding: So, this card would get them into the water park too?
Mr. Flint: Depending on who the individual is they can code it to have different access
rights.
Mr. d' Adesky: The water park is not treated as a CDD asset.
Mr. Flint: I'm assuming if someone is a member they can have access to the water park,
and it will allow access to the community pools. Right? If they weren't a member, then it wouldn't allow access to the water parks.
Mr. Harding: You are getting into the CDD pools, but they couldn't get into the water
park.
Mr. Dryburgh: I'm assuming at this time that we would need to tell Kevin to get a final
proposal?
Mr. Flint: Yes and we need to price out each of the pools because this doesn't include electrical, so we are going to have to get that.
Mr. Dryburgh: Yes, it does.
Mr. Scheerer: We need to find out more about how they are going to energize that. How are they going get the information to the lock? So, we need that information. There's power on

9

the outside of each building, but all the electrical panels are on the outside of the building. That's a hidden cost that we are not aware of based on the information that is provided. So, maybe we can get together for the look at it.
Mr. Greenstein: Thank you John.
Mr. Flint: So, we will re-agenda this for next month with some additional material.
Alright, it will be nice to make some progress on that.

FIFTEENTH  ORDER OF BUSINESS	Discussion of Landscape Maintenance­
Added
Mr. Flint: We added another item which is discussion of landscape maintenance services. There's no backup for this item, it's a discussion item. For the Board members that were here for the Reunion West meeting, you may have heard the discussion but the reason it's on here as a discussion item is the resort previously had terminated their agreement with Yellowstone for landscaping the resort properties. More recently the property owners, or Master Association gave notice to Yellowstone to terminate their agreement effective December 1st• The relevance of that is that all the parties, both CDDs, the resort, the Master Association, and one of the development entities all jointly bid landscape maintenance. We selected them through an evaluation committee comprised of representatives of each one of those entities, and we also entered into a lease agreement for the maintenance facility where Yellowstone is currently housed. And each entity entered into a separate lease agreement, so they have separate obligation to pay a prorated portion of that lease. The fact that the resort and Master Association now will not be utilizing Yellowstone, obviously there's an issue there where they are obligated for two more years to pay lease payments on that facility. Our obligation has not changed as far as how much we are obligated to pay going forward. I think the discussion at the last Board meeting was there wasn't anything for the CDD to do at this point, but I will defer to the Board for discussion on this.
Mr. Dryburgh: Who owns that building? Mr. Flint: I think city communities owns it. Mr. Dryburgh: So, it's a private entity?
Mr. d'Adesky: Yes, we are renting space in a building. There is a contract. Mr. Dryburgh: Is there any way that can get out of the contract?
Mr. d' Adesky: We entered into separate contracts. So, essentially we are liable for our portions of that. That is separate and individual, it's not joint with other parties, so we are not

IO

liable for any of their share of anything. We did enter into under the concept that we would be joint bidding the broader concept. In terms of a liability we are only liable for our portion of that. That hasn't been modified. It was only brought up for practical purposes because there would be an issue if the POA, or the club tried to put another vendor in there at the same time as our vendors already in there. But that once again that's really their issue because they have separate contracts. So that's not our issue to be resolving their contract issues.
Mr. Flint: The decision was made that the parties would control the lease in case we ever changed vendors, we would control the location of the maintenance. And that's why we entered into the lease agreement and not Yellowstone.
Mr. Greenstein: At the Reunion West meeting, I kind of polled the members and asked if any of the members had any concerns with Yellowstone as our contractor, or our landscaping contractor. And we had no intent to terminate their engagement with us in the current term, and we have no reason to extract ourselves from the lease with city communities for use of that maintenance hub building. I don't know what the master and kingwood assessments were, whether they were really familiar with the terms of that lease and what the financial obligations are. That's outside our scope. So, as far as CDD landscape support operations go, we're status quo. We have no reason to take any action.
Mr. d' Adesky: And George said something very important during the last meeting which I'm going to repeat, even if we weren't satisfied we would have to go through and RFP process. We cannot just do what the POA and club did and just change it. We are a public entity and have to go through that process due to the size of the contract.

SIXTEENTH ORDER OF BUSINESS
Attorney

Staff Reports

Mr. d' Adesky: Just a couple of things, I'm going to do basic updates. Obviously I'm working with some development issues, working through the plat, just reviewing that  for Reunion Village. There hasn't been much motion on the unexchanged bond issue, although we  do expect some conversations to occur in the next month and we'll see where that goes. One last thing I want to note is, there is a lot of issues that Kingwood has had to catch up to speed to and I know they came into a lot of different issues that perhaps they didn't understand fully. One issue that we are going to have to talk with them about is obviously the turnover of certain irrigation

11

assets that were funded by CDD bond funding. Those have been kind of delinquent and held out, even though they are funded by the CDD. So, we are going to need that to discuss that in the coming months. Just bringing that to the Board's attention. That's all I have.

Engineer
Mr. Flint: Xabier, Engineer's Report?
Mr. Guerricogoitia: Thanks George. Good afternoon Board members. So, we've prepared plans for the entry approval on the Boulevard. And this also includes adding additional parking and sidewalk at the mail kiosk at the southernmost area in Reunion West.
Mr. Greenstein: So, this all West?
Mr. Flint: Yes, but it's a shared expense.
Mr. Guerricogoitia: Yes, correct. All the improvements here are on the West side. And again, you have the guardhouse on Tradition Boulevard, and you have additional parking and sidewalk. We are here to answer any questions that you may have.
Mr. Dryburgh: How many feet are you adding?
Mr. Guerricogoitia: It's just a couple of feet, it's not very much.
Mr. Dryburgh: How many additional?
Mr. Guerricogoitia: Roughly just looking at it, to me it looks like it's probably 60 to 70 feet, so an additional 3 car lengths.
Mr. Dryburgh: Can you not go farther?
Mr. Guerricogoitia: Potentially. I don't know what the direction was given for how long the improvement needed to be. That's certainly something we can look at and see if there  are any issues with that.
Mr. Greenstein: You can have a lot of cars in that left-hand lane. Worst-case  scenario  let's say cars are lined up on that left side all the way down. When you are driving  up, you get  to a point where the road narrows, and the people in the left lane are encroaching on your right lane and you can't get by. So, the whole idea was just to widen it so that we can we can get past that choke point. Once you get that, you would have free access no matter how many cars are backed up.
Mr. Dryburgh: Are you saying with this extension there will no longer be any choke points?

12

Mr. Greenstein: Right because if you look at the roadway, the way the road was laid out it narrowed at that particular point. Where they are building like the Eagle Trace construction entrance, there is a cut in the road and there's a driveway. From that point forward is where the widening is occurring because when you go a little bit past that, that's where you would get choked out. So hopefully by just widening it we'll be able to continue on through. In theory, there should be no backup in the right lane because everybody has a prox card and the gates are just going up. It's only cars in the left that are getting inspected by an officer. We only did what we felt we needed to do to eliminate the choke.
Mr. Flint: Thank you Xabier.

District Manager's Report
Action Items Lists
Mr. Flint: The action items, MSA is complete. It has been signed  by the resort. I have it in the signature file for the Chairman to execute. The next thing we will need to focus on is the rates, the room rental rates, and the fanning the roof. Mainly it is items we've agreed to do in

advance of that going into effect. The rule hearing for parking will be December 19t•h
retention pond and Patriots landing what's the status of that?

The small

Mr. Scheerer: I met with Jarvis last week. He thought he could get to it the next week, unfortunately his schedule is still tied up on a couple of other jobs. Hopefully he'll get started the 1st of November and we'll get that project off the books.
Mr. Flint: The Dog Park playground, Steve, before you got on I explained to the Board that we engaged a surveyor to prepare a legal description, but the legal description we got was for the entire parcel. I've asked Kingwood if they want the easement across the entire parcel, or what we need to do with that. And I copied you on that email.
Mr. Goldstein: I got it.
Mr. d' Adesky: We'll take it if they want to give us the entire parcel. Mr. Flint: I haven't gotten a response back yet from Richard on that.
Mr. Goldstein: Ok, whatever works. Either way, it doesn't really matter. Whatever Richard wants to do.
Mr. Flint: And then the cross walk in front of the resort you all improved in the Fausnight Agreement. Any other items?

13

Mr. Harding: You mentioned this whole thing with the concern about the irrigation thing. Mr. d' Adesky: I'll get back to that. I will circle back to around to it, I have to talk with
Kingwood about it.

Approval of Check Register
Mr. Flint: The check register for the month of September, does the Board have any questions on the check register?

On MOTION by Mr. Greenstein seconded by Mr. Harding, with all in favor, the Check Register as presented, was approved.

Balance Sheet and Income Statement
Mr. Flint: You have the balance, the unaudited financial statements through the end of August. Are there any questions on those? Hearing none,

Status of Direct Bill Assessments
Mr. Flint: All the direct bills are current that are due.

SEVENTEENTH ORDER OF BUSINESS	Other Business
Mr. Flint: Is there any other items the Board wanted to discuss that was not on the  agenda?

EIGHTEENTH ORDER OF BUSINESS	Supervisor's Request
Mr. Flint: Are there any Supervisor's requests? Hearing none, we will move to adjourn.

NINETEENTH ORDER OF BUSINESS
This item was not discussed.

TWENTIETH ORDER OF BUSINESS

Next Meeting Date

Adjournment

14

On MOTION by Mr. Greenstein seconded by Mr. Dryburgh, with all in favor the meeting adjourned.

Secretary/Assistant Secretary	Chairman/Vice Chairman

15

( ·

S ECT·I ON IV

From: Stacie Vanderbilt svanderbitt@gmscfl.com
Subject: Fwd: Status please
Date: October 4, 2019 at 12:55 PM
To:

From: "Carll, Anthony" <acarll @reunionreso rt .com>
Date: October 3, 2019 at 3:15:46 PM EDT
To: John Dryburgh <jdr'llli![gh@icloud.com>, "Baker, Kevin" <kbaker@reunionreso rt.com>
Subject: RE: Status please

John,
Please see attached links to Assa Abloy to look at the different products and details of the  locks, I  have also attached a picture of the of what a current gate looks llke. In addition, feel free to  give me a call with questions. There are  savings by having us manage because we have all the info and programs In place. Talk to you soon

If Reunion manages-

The cost per gate is $500
This includes- Door lock, and install

Price per key is $10 to be coded and issued through Reunion Security IF CDD wants to manage-
The cost per gate is $500
This includes - Door lock, and install

You would need to purchase the computer and coding components-
$ 3200 Vision line program	·
$1152.71 PC Server
$721 RFID Encoder & updater
$ 2500 VCP Contract with ASSA
$ Training would be charged by Assa Abloy

$7573 Total

Keys depend on bulk
Roughly $2 per key for each 1000 keys

 	   /assaablo v..b ox.com /sL1;2vbb9w3 cy5bza2nkxuzwbu u lde kkrtc5

.b.ttJ.ls:/j_www.assaabloy_.com/en/com/solutions/.P..roductsL

Anthony Carll
Assistant General Manager REUNION RESORT & GOLF CLUB
o: 407.396.1089 I m: 407-506-2742 reunionresort.corn
7593 Gathering Drive, Kissimmee, FL 34747 Facebook • Twitter • lnstagram

----Original Message---
From: John Dryburgh <jdrY.burgh@icloud.com> Sent: Thursday, October 3, 2019 8:23 AM
To: Baker, Kevin <kbaker@reunionresort.com> Cc: Carll, Anthony <acarll@reunionresort.com> Subject: Re: Status please

Thank you Kevin. The board would like this issue addressed soon and I would love to get it done to everyone's satisfaction. Looking forward to the info.

Sent from my iPhone

On Oct 2, 2019, at 10:30 PM, Baker, Kevin <kbaker@reunionresort.com> wrote:

Good evening Mr. Dryburgh. I copied Anthony on this note as this
falls in his lane. High level. We have the company that we hired to install the locks. I will have Anthony create a estimate on what that would cost for each gate Second we will also provide a proposal on what the cards will cost.
Third we create a sop on the process on handing out the cards.

Sent from my iPhone

On Oct 2, 2019, at 10:11PM, John Dryburgh <jd cv.bur  gh@icioud.com>wrote:

Hi Kevin,

We are shortly going to be having our next COD meetings and I know I'll be asked for a status on the issues regarding access to the pools. The main issue is the keyed entry to the various swimming pools. I'm still waiting to hear back from you as to how you recommend we proceed and with which vendors.
It has been almost a month since our meeting and I would hope that we can get an update before the CDD meeting. John
Sent from my iPhone

Under Florida law, e-mail addresses are public records. If you do not want your e-mail address released in response to a public records request, do not send electronic mall to this entity. Instead, contact this office by phone or in writing.
History.-s. 1, ch. 2006-232.

10/1•0/2019

Gmail - Fwd: Status please

4/4

h  tto,J/m a . lgl   oogl, .  co  m/maiV<UO ?ki•   le1,  67   6"  5 &, ;,-	pt&,.  , cch• all&p" mth;d, th,oad  -l%3A1  64 7  00397   6513044567 &,;mpl•m,g-f%3A1647003976513044567

--	S	ECTION V

This item will be provided	unde r separate cover

---- --=--:- ---

S ECTION VI

MANAGEMENT SERVICES AGREEMENT
(HERITAGE CROSSING COMMUNITY CENTER AND HORSE STABLES)

Si	THIS MANAGEMENT SERVICES AGREEMENT (this "Agreement") is entered into this / Jt ay of
EP1EMA9( 2019, by and between REUNION EAST COMMUNITY DEVELOPMENT DISTRICT, a
Florida community development district and a local unit of special purpose government (the "COD"), and KINGWOOD ORLANDO REUNION RESORT, LLC, a Florida limited liability company (the "Management Company", together with the COD, the "Parties").

RECITALS:,

WHEREAS, the COD is a local unit of special purpose government created in accordance with the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended, and pursuant to Osceola County Ordinance #01-31.

WHEREAS, the recreational amenities/properties commonly referred to as "Heritage Crossing Community Cen r and the Horse Stables", as further defined in the attached Exhibit "A", (the "COD Facilities") is owned by the COD.	·

WHEREAS, the COD desires the benefit of the experience and services of the Management Company for the operation and management of the COD Facilities upon the terms and conditions set forth in this Agreement, and the Management Company is willing to accept such obligations pursuant to the terms and conditions set forth in this Agreement.

NOW, THEREFORE, in consideration of valuable considerations paid by each party to the other, the receipt and sufficiency of which Is hereby acknowledged, and In further consideration of the mutual covenants and conditions contained herein, the parties agree as follows:

Incorporation of Recitals. The recitals stated above are true and correct and by this reference are incorporated herein as a material part of this Agreement.

Term of Agreemetn.  This Agreement shall be for a four-year term beginning on the date the COD confirms In writing that the CDD Facilities are ready for use (the "Effective Date") and ending on three (3} years following the Effective Date (the "Term").

Control and ManagementResponsibility. The Parties agree that for the Term of this Agreement, at all times the COD shall have control of the CDD Facllltles. The Parties agree that the Management Company shall manage and operate the CDD Facilities in accordance with the standards set forth herein and as directed by the COD, in accordance with this Agreement, applicable regulations, permits, District rules and Florida law, to further render the Services (as defined below). and the Management Company hereby accepts such duties and shall discharge such duties all in accordance with the terms and conditions set forth in this Agreement. COD confirms that, should the COD desire to sell either whole or part of the COD Facilities, the CDD shall follow a public auction and bidding process, as permitted by Chapter 190, Florida Statutes and other applicable Florida law.

1

Compensation.The Management Company shall be paid an amount per year as reflected in Table 1 below (Base Compensation):

TABLE1

Year	Base Compensation	
1	$48,750	
2	$32,500	
3	$16,250	

The Base Compensation shall be paid in equal monthly payments. The Management Company shall be responsible for paying all bills and costs associated with the operation and management of the COD Facilities. In addition to the Base Compensation, the Management Company shall be paid a fee per event booked at the COD Facilities (the GEvent Compensation") equivalent to 50% of the then adopted Facility Rental Fees, described in Section 5 below. The Event Compensation may be adjusted by mutual written agreement between the COD and the Management Company from time to time. In the event that the Base Compensation and Event Compensation prove insufficient to cover the costs of operating and maintaining the COD Facilities, the Management Company may provide documentation of such shortfall to the District and request a payment to cover the difference between the documented actual cost of operating and maintain the COD Facilities and the combined Base Compensation and Event Compensation (a "Shortfall Paymenr). In any month where the Management Company anticipates and/or will submit a request for Shortfall Payment, the Management Company must submit detailed financial reporting to the District, documenting the expenditures and revenues associated with operating and maintaining the CDD Facilities, including, but not limited to, balance sheets, income statements, invoices, associated payroll records and documentation associated with the Facility Rental Fees. Upon confirmation of the actual operation and maintenance costs for the COD facilities to the satisfaction of the District, the District shall either 1) instruct the Management Company In writing to remit the Shortfall Payment from Facility Rental Fees held by the Management Company or 2) remit the Shortfall Payment directly from the District to the Management Company.
Facility Rental Fees. Facility Rental Fees shall be set by the District through Its rulemaklng process, as Initially adopted and subsequently amended from time to time. Management Company shall collect a Facility Rental Fee for each event held in the COD Facilities on behalf of the CDD, excluding COD Sponsored Events. Management Company will remit Facility Rental Fees to the CDD on a monthly basis with a report indicating the date, time and description of each event. The Management Company may advise the COD regarding proposed Facility Rental Fees; however, the adoption of the Facility Rental Fees shall be within the full control and discretion of the CDD.

CDD Sponsored Events. Management Company shall block out specific dates and times for COD Sponsored Events. CDD Sponsored Events are intended to benefit residents and non-resident user fee payers. Specific dates and times will be determined by mutual written consent of the parties.

Services of ManagementCompany and Operationof COD Facilities. The Management Company shall act as the manager of the COD Facilities, including all activities related thereto, and the

2

Management Company shall provide the COD with the following services, including but not limited to (collectively, the "Services"):

Standards and Operation. The Management Company shall manage and maintain the COD Facilities as a part of the CDD community and at all times in accordance with that of a high quality public facility, at a level consistent with or better than a slmi!ar operation in central Florida. On or before the 60th day prior to the beginning of each new fiscal year, the Management Company shall develop the operating budget for the COD Facilities for the coming fiscal year, which the District shall review and, with such changes as the District shall approve upon advice of the District Manager and the Management Company, which shall be approved in writing by the District on or before the first day of the applicable fiscal year. Each such budget shall be subject to modification to address new needs and costs as the Management Company shall propose from time to time and the District approve in writing. A copy of the budget approved for the first fiscal year under this agreement is attached hereto as Exhibit B.

Operational Inventory. The Management Company shall purchase all necessary and recommended inventory and supplies, enter into all necessary contracts for electricity, gas, propane, telephone, general cleaning, window cleaning, refuse disposal, pest control, payroll or staff services, and for any other utilities or services which the Management. Company shall consider reasonably necessary or advisable for the operation of the COD Facilities, and make ordinary repairs and maintenance (as more fully set forth below and subject to the prior approval of the COD, and the lack of a statutory or regulatory need to bid for such services). Within sixty (60) days after the Management Company has begun to perform its duties under this Agreement, both the Management Company and the COD shall cooperate to produce an inventory detailing the ownership of all personal property items located at or within the COD Facilities which are subject to this Agreement.

Emergency Maintenance Service. The Management Company will have a properly qualified person available to handle maintenance emergencies affecting the COD Facilities, before and after the maintenance emergency event.

other Services and Conditions.

The Management Company will provide appropriate personnel to manage the COD Facilities during hours of operation, which hours shall be established by the COD from time to time, with Management Company providing input on recommended hours of operation. The Management Company shall post appropriate signage indicating the hours of operation and a contact number for the Management Company. The Management Company may elect to permit use of certain areas of the CDD Facility during discrete periods while restricting use of other areas of the CDD Facilities during those same periods. The Management company shall make best efforts to ensure CDD Facilities are only accessed by (a) property owners within the boundaries of either Reunion East or Reunion West community development district ("Property Owner") and the guests of Property Owners (inclusive of guests of the Management Company, as a Property Owner),
(b) employees, contractors, subcontractors, and other licensees of the Management Company and (c) Individuals who have paid the COD Non-Resident User Fee. The Management  Company  shall have discretion regarding  Implementation of operating

3

procedures to ensure authorized users follow use and conduct policies established by the Management Company consistent with the mutually acceptable operating and maintenance requirements. The Management Company will secure the COD Facility during periods of non-operation, and may, in its sole discretion, monitor and surveil the COD Facilities for compliance. The Management Company shall have the authority to restrict access, deny privileges, and/or apply other appropriate measures to address unauthorized users, authorized users attempting use during periods of non-operation, and authorized users that violate behavioral standards of the Management Company.

The Management Company hereby covenants and agrees to comply with all the rules, ordinances and regulations of governmental authorities wherein the CDD1 Facllities are located, at Management Company's sole cost and expense, except as provided in paragraph 6.{b) herein, and the Management Company will take such action as may be reasonably necessary to comply with any and all notices, orders or other requirements affecting the COD Facilities issued by any governmental agency having jurisdiction over it, unless specifically instructed by the COO or the COD that it intends to contest, at the CDD's cost and expense, such orders or requirements and that the Management Company shall not comply with the same. The Management Company shall provide immediate notice to the CDD of any such orders or requirements upon receipt of same.

If requested·by the COD, a representative of the Management Company shall attend the requested COD Board of Supervisors meeting(s). Additionally, the Management Company shall attend membership meetings with homeowners and developer representatives upon prior notice by the COD.

(e} LiquorLicenses and Liability. In the event liquor or any other alcoholic beverage is to be served in or upon any of the COD Facilities, the Management Company shall be responsible for acquiring and maintaining in good standing any and all licenses required by law which are necessary to legally serve alcoholic beverages. In addition, the Management Company shall comply with all liquor liability Insurance requirements as more fully described herein. The COD shall cooperate with Management Company as may be reasonably required to provide documentation or information to licensing authorities in order for the Management Company to acquire and maintain such licenses.

( Exclusive Food and Beverage Provider. Except for COD Sponsored Events, as defined pursuant to Section 6 hereunder, the Management Company shall be the exclusive food and beverage provider for the COD Facilities. This provision shall include, but Is not limited to, the provision of liquor or any other alcoholic beverage served in or upon any of the COD Facilities.

Repair, Maintenance and Utilities.

Except for the CDD's maintenance responsibilities set forth below, Management Company shall maintain the interior, exterior, landscaping and grounds of the COD Facilities and every part thereof In good repair and condition; damages by causes beyond the control of the Management Company, reasonable use, ordinary decay, wear, and tear excepted. Management Company hereby further covenants at its expense to:
4

Comply with the requirements of applicable building, housing and health codes specifically applicable to Management Company's use of the CDD Facilities;

(Ii} Maintain the ceilings, windows, screens, doors, steps, porches, interior walls, floors, cosmetic features of the exterior of the building(s), paint, landscaping, grounds, parking lots and all other non-structural components in good repair and the plumbing, heating and air conditioning systems in good working condition;

(iii)	Provide for the monthly extermination and prevention of rats, mice, roaches, ants and wood-destroying organisms;

(iv}	Maintain all locks and keys;

(v}	Maintain in a clean and safe condition all areas of the CDD Facilities;

(vi)	Provide for garbage removal and outside receptacles therefor; and

(vii}	Pay for all utilities provided to the COD Facilities.

Subject to subsection {b) below, the COD shall maintain the structure of the buildlng(s) on the grounds of the COD Facilities, Including the integrity (but not the cosmetic condition) of exterior walls, roof and foundation except to the extent that any maintenance or repairs are deemed "minor repairs" (i.e., less than or equal to $2,500), and also to the extent that any maintenance or repairs are required as a result of the negligence or intentional acts of the Management Company, its employees, agents, contractors or guests, in which cases Management Company shall be responsible for said costs and obligations. Notwithstanding the foregoing, the CDD shall have no liability or obligation for said maintenance unless and until it receives written notice from Management Company that maintenance and/or repairs are necessary.

The Management Company shall not be responsible for any ·capital Expense" for any single item of repair or replacement which exceeds Two Thousand, Five Hundred and 00/100 Dollars ($2,500) {unless said repair or replacement is a result of the negligence or intentional acts of the Management Company, its employees, agents, contractors or guests), and shall not incur on behalf of the COD any Capital Expense unless specifically authorized in writing, in advance, by the COD, except, however, such emergency repair as may involve a danger to life or property or as may be immediately necessary for the preservation and safety of the COD Facilities or the members, occupants and livestock, or as may be required to avoid the suspension of any necessary service to the COD Facilities. A "Capital Expense• is defined as any capital expenditure (not normal operational maintenance and repairs), upgrade or long-term repair that is in excess of
$2,500. Capital Expenses shall include, without limitation, building structural repairs, roof replacement, appliance replacement, carpet or flooring replacement and major building systems replacement including, but not limited to, air conditioning and plumbing. Minor operational repairs and maintenance are included in the Fixed Fee, as defined below, and are to be performed at the cost of the Management Company. Without limiting the generality of the foregoing, it is the intent of this paragraph that the Management Company shall be responsible for the expense if it Is due to normal wear and tear or part of routine maintenance service, and the CDD shall be responsible for

5

the expense if it is to prolong the life of the facility or component (e.g., painting exterior, refurbishing chairs) or to make modifications to the CDD Facilities as may be required by law.
(c} The Management Company shall be directly responsible for the general operation and management of the COD Facilities and the associated maintenance necessary for the upkeep of the CDD Facilities and Its related amenities according to the standards reasonably acceptable to the COD, Including cleaning and s ch maintenance and repair work as may be necessary to operate the facility successfully, and as set forth herein. In the event that the Management Company, at any time during the term of this Agreement, fails to so maintain the COD Facilities, the CDD shall have the right to give written notice to the Management Company, specifying those areas of specific matters in regard to which the Management Company is not meeting the standards of operation (i.e., facility conditions, employee training, failure to operate within the approved CDD rules and regulations as adopted by the CDD from time to time). The Management Company shall have thirty (30) days from the receipt.of said notice to cure such faflures in their entirety, or in the event that such failures cannot be reasonably cured within that period, a reasonable period shall be established, provided that the Management Company diligently commences and pursues to complete such cure. If such efforts are not made, this Agreement may be terminated at the sole discretion of the CDD.

(d) The COD Facilities and all furniture and fixtures, machinery, appliances, operating equipment and all personal property used in the operation of the COD Facilities and owned by the COD shall be maintained by the Management Company on behalf of the COD, in a condition that is appropriate for the operation of the COD Facilities. Title thereto shall remain in the name of the COD. The Management Company will use reasonable caution and care in performing its Services to protect the equipment and premises of the COD Facilities now owned or h. ereafter acquired.  An Inventory of all property owned by the COD shall be performed by the CDD (or other individual acceptable to the CDD) and the Management Company prior to the Management Company beginning operations at the COD Facilities. Annual inventories shall be performed in the same manner. At the termination of this Agreement, the Management Company shall be responsible for leaving all COD inventory items in good condition and repair, ordinary wear and tear excepted.

Insurance. The Management Company shall, at its own expense, secure insurance policies as listed below necessary for the proper maintenance, preservation and operation of the CDD Facilities. All insurance shall be issued by companies authorized to do business under the laws of the State of Florida, and must be reasonably acceptable to the CDD. The Management Company shall furnish certificates of Insurance to the COD prior to providing the Services, and each certificate shall clearly indicate that the Management Company has obtained Insurance of the type, amount and classification as required for strict compliance with this paragraph.

Management Company shall, throughout the performance of its services pursuant to this Agreement, maintain:

Occurrence based comprehensive general liability insurance (including broad form contractual coverage) with minimum limits of $1,000,000 per occurrence and $2,000,000 annual aggregate, protecting it and COD from claims for bodily Injury (Including death) and property damage, for incidents occurring on, in or about the CDD premises/ facilities, solely which arise

6

from or In connection with the perfonnance of Management Company's services under this Agreement.

Business automobile liability insurance covering owned, non-owned and hired automobile exposures, with policy limits not less than $1,000,000 combined single limit.

Workers' compensation insurance sufficient to satisfy all applicable statutory requirements, and Employer's liability insurance In amounts not less than:

Bodily Injury by Accident: $1,000,000each accident Bodily Injury by Disease: $1,000,000 policy limit Bodily Injury by Disease: $1,000,000 each employee

Liquor liability insurance in an amount not less than $1,000,000 per occurrence and $1,000,000 annual aggregat.e

Umbrella / Excess liability insurance with a minimum limit of $25,000,000each occurrence and $25,000,000 annual aggregate.

All such insurance required in this Section 7 shall be with companies and on forms reasonably acceptable to COD and shall provide that the coverage thereunder may not be reduced or canceled unless thirty (30) days prior written notice thereof is furnished to COD; the insurance required under paragraph 7.a, 7.b, and 7.d shall name the CDD as an additional insured. Certificates of insurance (and copies of all policies, if required by the COD) shall be furnished to the COD. In the event of any cancellation or reduction of coverage, Management Company shall obtain substitute coverage as required under this Agreement, without any lapse of coverage to CDD whatsoever. Acceptance by the COD of any evidence of insurance submitted.by the Management Company does not relieve or decrease in any manner the liability of the Management Company for perfonnance of the Services in accordance with the terms and conditions hereof.

All coverage types, limits and deductible amounts as set forth in this Section 7 hereof shall be reviewed by COD and Management Company from time to time for the purpose of detennining the coverage types, limits and deductible amounts then appropriate of properties similar in type and construction to the CDD facilities and for the nature of the business being conducted, and for purposes of complying with the requirements of any mortgagee.

CDD shall, at its own expense, secure insurance policies necessary for the proper maintenance, preservation and operation of the CDD Facilities and shall name the Management Company as an additional insured. Certificates of insurance shall be furnished to the Management Company.

ManagementCompany'sEmployees. The Management Company shall employ, hire, train and supervise all personnel reasonably necessary to operate the COD Facilities, with all employees' compensation, benefits and labor costs to be paid by the Management Company. The Management Company shall have authority to hire, train and discharge all employees necessary for the operation of the COD Facilities, and to fix their compensation; such employees shall not be employees or independent contractors of the COD. All matters pertaining to the employment, supervision, compensation, promotion and discharge of any employees of Management Company or of entitles retained by Management

7

..	.
Company are the sole responsibility of Management Company. Management Company shall obtain, for
each individual Management Company employs at the COD Facilities at any time, a criminal background check performed by an appropriate federal or state agency, or by a professional and licensed provider of such services, and shall make, based on the results of such background checks, employment suitability determinations for each employee that are reasonable and customary within Management Company's industry. Management Company shall maintain copies of said background checks on file so long as the subject lndividual(s) remains in Management Company's employ, and to the extent permissible by law, Management Company shall make all background checks available for CDD's review upon request. Management Company shall use commercially reasonable efforts to enforce strict discipline and good order among its employees while at the COD Facilities.

Licenses, Transfers. The Management Company, at Its own expense, shall obtain all licenses and permits necessary to perform the Services. All licenses wm be obtained In the name of the
Management Company, if possible. In the event the Management Company is in default under this Agreement and/or this Agreement is terminated by the COD, the Management Company agrees that it will transfer (to the maximum extent permitted by law, ordinance or other governmental regulation), at the COD's expense, all· permits and llcenses, including but not limited to any liquor license(s), which may be held by the Management Company for the COD Facilities and the operation thereof, to the CDD or, at the CDD's sole option, to the CDD's nominee. The cost and expense of such transfers shall be borne solely by the CDD.

Termination. Notwithstanding anything to the contrary contained herein, COD or Management Company may terminate this Agreement, with or without cause, upon one-hundred eighty
(180) days' with prior written notice to the other party. ff the Management Company requests a Shortfall Payment, pursuant to Section 4 herein, the COD may elect to terminate this Agreement within thirty (30) days of receipt of the request for Shortfall Payment. Except as provided for in Section 6(c), in the case of a material event of default-by either party, which default has not been cured within ten (10) days after receipt of written notice thereof from the non-defaulting party, the non-defaulting party may tenninate the Agreement upon five days' prior written notice to the defaulting party, provided that, if such default is of a nature that it cannot be cured within such ten {10) day period, then such period shall be extended for such additional period as may be reasonably necessary to remedy the default, but in no event shall such extended remedy period extend beyond ninety (90) days. If the District or any other governmental entity determines that continued operation of the COD Facilities by the Management Company presents a risk to the health, welfare, or safety of users of the COD Facilities or the public, or if continued operation of the COD Facilities would violate Florida or federal law, the District shall be permitted to terminate this Agreement Immediately, with or without issuing the notice or allowlng for a cure period.

Notices. Any notice required or permitted to be given by the terms of this Agreement or under any applicable law by either party shall be in writing and shall be either hand delivered, sent via recognized overnight courier (such as Federal Express), or sent by certified or registered mail, postage prepaid, return receipt requested. Such written notice shall be addressed to:

COD:		Reunion East Community Development District c/o Governmental Management Services
135 W. Central Blvd., Suite 320
Orlando, FL 32801 Attn.: District Manager
8

and a copy to:

Management Company:

and a copy to:

Latham, Shuker, Eden & Beaudine, LLP 111 N. Magnolia Ave., Suite 1400
Orlando, FL 32801
Attn.: Jan Albanese Carpenter, Esq.
Kingwood Orlando Reunion Resort, LLC 1200 South Pine Island Road Plantation, FL 33324
Attn.: Registered Agent

Kingwood Or1ando Reunion Resort, LLC 400 Curie Drive
Alpharetta, GA 30005
Attn.: Kevin Baker, Manager

Indemnification. Management Company agrees to indemnify, save harmless and defend the COD, its officers, directors, board members, employees, agents and assigns, from and against any and all liabilities, claims, penaltles, forfeitures, suits, legal or administrative proceedings, demands, fines, punitive damages, losses, liabilities and interests, and any and all costs and expenses incident thereto (Including costs of defense, settlement and reasonable attorneys' fees, which shall include fees incurred in any administrative, judicial or appellate proceeding) which the CDD, their officers, directors, board members, employees, agents and assigns, may hereafter incur, become responsible for or pay out to the extent arising out of (i) Management Company's breach of any term or provision of this Agreement, or (ii) any negligent or intentional act or omission of Management Company, its agents, employees or sub­ contractors in the performance of this Agreement.

Compilancewith All Laws, Regulations, Rules and Policies.

At all times, Management Company is expected to operate in accordance with all applicable laws, statutes, regulations, ordinances and orders.

Management Company hereby covenants and agrees to comply with all the regulations, ordinances and rules of governmental authorities wherein the CDD's Facilities are located, as said regulations, etc. may specifically relate to Management Company or its services provided hereunder, at Management Company's sole cost and expense except as otherwise provided herein, and Management Company will take such action as may be necessary to comply with any and all notices, orders or other requirements affecting the services described herein as may be issued by any governmental agency having jurisdiction over Management Company, unless specifically instructed by the COD that it intends to contest such orders or requirements and th,at Management Company shall not comply with the same. Management Company shall provide immediate notice to the COD of any such orders or requirements upon receipt of same. Should such compliance require changes or modifications to the CDD Facilities, Management Company shall provide notice ot the COD as provided under Section 6.

Management Company shall bear all costs associated with compliance with the Americans with Disabilities Act or any other state or Federal legislation related to its performance

9

of the Services; provided however, that the COD shall be solely responsible for such compliance in respect of the improvements constituting the COD Facilities and other assets owned by the COD.

The COD is a local unit of special purpose government created in accordance with the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes. Management Company agrees to comply with all applicable requirements of the "Sunshine Law,• the "Public Records Law,· Community Development District law, and all other statutes and regulations applicable to Management Company.

Ownership of Books and Records. Any books, documents, records, correspondence or other information kept or obtained by the COD or furnished by the CDD to Management Company in connection with the services contemplated herein and/or the COO Facilities and any related records are property of the COD. Management Company agrees and acknowledges that any and all such books, documents, records, correspondence or other information may be public records under Chapter 119, Florida Statutes.

Public Records. Management Company agrees to promptly comply with any order of a Court having competent jurisdiction which determines that records pertaining to the management of the COO Facilities maintained by Management Company are "public recordsa which must be available to the public.

Management Company agrees and acknowledges that any and all books, documents, records, correspondence or other information related to this Agreement and/or the COD Facilities may also be subject to inspection and copying by members of the public pursuant to Chapter 119, Florida Statutes. In accordance with applicable Florida law:

Management Company shall keep and maintain public records that ordinarily and necessarily would be required by the COD in order to perform the services provided in this Agreement.

Management Company shall provide the public with access to public records on the same term and conditions that the CDD would provide the records and a cost that does not exceed the cost provided in Chapter 119, Florida Statutes, or as otherwise provided by law.
Management Company shall ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law.

Management Company shall meet all requirements for maintaining public records and transfer, at no cost, to the public agency all public records in possession of Management Company upon termination of this Agreement and shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure req.tiirements, provided that Management Company shall be entitled to retain copies of any records it deems necessary to comply with IRS, Florida Department of Revenue and any other regulatory agencies or necessary for Management Company's defense of any claims by COD or any third party resulting from Management Company's performance under this Agreement. All records stored electronically shall be provided to the COD in a format that is compatible with the information technology

10

systems of the COD so long as Management Company does not incur unreasonable cost or expense In doing so.
If Management Company does not comply with a public records request, such failure to comply shall be considered a default under the terms of this Agreement and applicable law, and the CDD shall enforce the Agreement accordingly.

Environmental Covenants.

Management Company shall comply with all environmental ·laws, rules, regulations, statutes and ordinances, including, without !imitation, those applicable to "hazardous substances." Management Company shall unconditionally, absolutely and irrevocably agree to indemnify, defend and hold harmless COD and its officers, employees, agents, and contractors, from and against and to pay in full on demand by COD all loss, cost and expense (including, without limitation, attorneys' fees and disbursements and fees of other professionals advising COD} of whatever nature suffered or incurred by COD on account of the existence on the COD Facilities, or the release or discharge from the CDD Facilities, of "hazardous substancesu caused by Management Company or its employees, agents, licensees and subcontractors after the commencement of the Services, inclµdlng, without limitation, any claims. costs, losses, liabilities and expenses arising from the violation (or claimed violation) of any environmental laws by Management Company or its employees, agents, licensees and subcontractors after the commencement of the Services, or the institution of any action by any party against Management Company, COD or the property whereon the CDD Facilities are situated based upon nuisance, negligence or other tort theory alleging liability due to the improper generation, storage, disposal, removal, transportation or treatment of hazardous substances by Management Company or its employees, agents, licensees and subcontractors after the commencement of the Services, or the imposition of a lien on any part of the Demised Premises under the Comprehensive Environmental Response Compensation and Liability Act of 1980, 42 U.S.C.. 9601, et seq., as amended ("CERCLA"}, and the laws of the state where the Demised Premises is located, or any other laws pursuant to which a lien or liability may be imposed on the CDD due to the existence of hazardous substances caused by Management Company or its employees, agents, licensees and subcontractors after the commencement of the Services.

In the event any claims, costs, losses, liabilities or expenses arise from the violation (or claimed violation) of any environmental laws by the COD or its employees, agents, licensees and subcontractors prior to the commencement of the Services, applicable law shall determine the allocation of any liability or responsibility, if any, between any and a!I parties involved, provided, however, that in no event shall the Management Company be responsible, in whole or in part, for any such claims, costs, losses, liabilities or expenses.

Third Party Beneficiarie.s The Services provided under this Agreement are solely for the benefit of the COD and neither this Agreement nor any Services rendered hereunder shall give rise to or shall be deemed to or construed so as to confer any rights on any other party as a third party beneficiary or otherwise, Including any owners of property within the CDD.

Attorneys' Fees. If either party hereto institutes an action or proceeding for a declaration of the rights of the parties the Agreement, for injunctive relief, for an alleged breach or default of, or any

11

other action arising out of, the Agreement, or In the event any party hereto Is in default of its obligations pursuant hereto, whether or not suit is filed or prosecuted to final judgment, the non-defaulting or prevailing party shall be entitled to its reasonable attorneys' fees and to any court costs and expenses incurred, in addition to any other damages or relief awarded.

Governing Law and Jurisdiction. This Agreement shall be interpreted and enforced under the laws of the State of Florida, regardless of any conflict-of-interest rules. Any litigation arising under this Agreement shall have venue in a court having jurisdiction over Osceola County, Florida. THE PARTIES WAIVE TRIAL BY JURY AND AGREE TO SUBMIT TO THE PERSONAL JURISDICTION AND VENUE OF A COURT HAVING JURISDICTION OVER OSCEOLA COUNTY, FLORIDA.

Independent Contractor Status. At all times hereunder, the Management Company shall undertake all duties, obligations, and responsibilities as an independent contractor, and not as an employee, agent or representative of the CDD. It is further acknowledged that nothing herein shall be deemed to create or establish a partnership or joint venture between the COD and the Management Company. The Management Company has no authority to enter into any contracts or agreements, whether oral or written, on behalf of the CDD.

Sovereign Immuntiy. Nothing contained herein shall cause or be construed as a waiver of the CDD's sovereign immunity or llm!taUons on liability beyond any limited waiver granted pursuant to section 768.28, Florida Statutes, or other law, and nothing In this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which C9uld otherwise be barred under the doctrine of sovereign Immunity or by operation 9f law.

Waivers. No failure by either party to insist upon the strict perfonnance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy upon a breach thereof shall constitute a waiver of any such breach or of such or any other covenant, agreement, term or condition. Any party hereto, by written notice executed by such party, may, but shall be under no obligation to, waive any of its rights or any conditions to its obligations hereunder, or any duty, obligation, or covenant of any other party hereto. No waiver shall affect or alter this Agreement, but each and every covenant, agreement, term and condition of this Agreement shall continue in full force and effect with respect to any other then-existing or subsequent breach thereof.

No Inconsistent Tax Position. The Management Company agrees that it is not entitled to and will not take any tax position that is inconsistent with being a service provider to the District with respect to the CDD Facilities. For example, the Management Company agrees not to claim any depreciation or amortization deduction, investment tax credit, or deduction for any payment as rent with respect to the managed property.

Safe Harbor Provisions The Parties intend that this agreement comply with the safe- harbor provisions of Rev. Proc. 2017-13 and agree that the provisions hereof should be interpreted to allow for such compliance to the fullest extent possible given principles of legal construction.

12

Miscellaneous.

The captions for each paragraph of this Agreement are for convenience and reference only and in no way define, describe, extend or limit the scope or intent of this Agreement, or the intent of any provision hereof.

The Management Company may not assign this Agreement or any of the rights and duties expressed herein except with the COD prior written consent, which consent may be withheld in the CDD's sole and absolute discretion.

Whenever used, the singular number shall include the plural, the plural the singular, and the use of any gender shall include all genders, as the context requires.

The Management Company and the COD have had equal input in the drafting of this Agreement and, in consideration thereof, the language used in this Agreement will be construed according to its fair and common meaning and will not be construed more stringently or liberally for either party.

If any provision of this Agreement Is held to be illegal or Invalid, the other provisions shall remain ln full force and effect.

(Q No modification, waiver, amendment, discharge or change of this Agreement shall be valid unless the same is in writing and signed by the parties against which such enforcement is or may be sought. This instrument contains the entire agreement made between the parties and may not be modified orally or in any manner other than by an agreement in writing signed by all parties hereto or their respective successors In Interest.

(g)       Time, and tim. ely perfonnance,  is of the essence of this Agreement and of the covenants and provisions hereunder.

Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all parties had signed the same document. All fully executed counterparts shall be construed together and shall constitute one and the same agreement.

[SIGNATURE PAGE TO FOLLOW.]

13

SIGNATURE PAGE TO MANAGEMENT SERVICES AGREEMENT
(HERITAGE CROSSING COMMUNITY CENTER AND HORSE STABLES)

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on their behalf by their duly authorized representatives, all as of the date first set forth above.

"COD"

ATTEST:

Print:	G:	.. ,.  '""'  $ 	F  l ,_;>--
Secretary/Asst. ecretary

WITNESSES:

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT
a Florida community development district

Print:		f"\w-¥, 6<'U.¥I S'),<.,,"vl Chairman/Vioi CRaiffflt!ll"I

"MANAGEMENT COMPANY"

KINGWOOD ORLANDO REUNION RESORT, LLC,
a Florida limited liability company

14

Composite Exhibit "A"

Description of CDD Facilities

[ATTACHED BELOW]

15

Katrina S. Scarborough, CFA, CCF, MCF Osceola County Prop rty Appraiser
www.property-appra1ser.org
Osceola County Government Center
2505 East lrlo Bronson Memorial Hwy, Kissimmee, FL 34744 Ph: (407) 742-5000 Fax:( 407) 742-4900

Parcel: 35-25-27-4859-PRCL-028 0

Owner Information

Owner Name

,Mailing Address

Physical Address Description
Tax District

REUNION EAST COD

135 W CENTRAL BLVD STE 320

ORLANDO, FL 32801
1590 REUNION BLVD, KISSIMMEE FL 34747
TOURIST ATTRACTION/ENTERTAINMENT FACILITIES(DINNER
300 - OSCEOLA COUNTY

Tax Values
Current Values	Certified Values

Current Value represents working appraised values as of 10/07/2019, which are subject to change prior to certification
Land	$1
AG Benefit	$0
Extra Features	$1
Buildings	$1
AppralsedOust)	$3
Assessed(estimated)	$3
Exemption(estlmated)	$3
Taxable(estimated)	$0
* Assessed Values Reflect Adjustments for Agricultural Classification and/or the Save Our Homes Cap

Certified Value represents certified values that appeared on the tax roll as of 10/02/2019
Land	$1
AG Benefit	$0
Extra Features	$1
Buildings	$1
Appraisedijust)	$3
Assessed*	$3
Exemption	$3
Taxable	$0
* Assessed Values Reflect Adjustments for Agricultural Classification and/or the Save Our Homes Cap

Sales Information
Se	
ORB-P	
Price	
Date	
Deed T	
e	
0	3408-0054	$100	2007-02-08	QC		
1		$0	2002-02-14	NC		
2	1928-1279	$0	2001-08-30	QC		
3	1750-2249	$14,753,800	2000-06-26	SW		

Page 1 • 10/8/2019 9:36:19 AM

Land Information - Total Acreage: 1.90
Land Descri tion	Units	De th	Land T e	Land Value	
COM AC	1.90	0.00	AC	$284,400	

Extra Features
Extra Feature	Units	Year Built	Feature Value

COMMERCIAL-ASPHALT PAVEMENT WITH CURBING AVERAGE
COMMERCIAL-CONCRETE PAVEMENT AVERAGE COMMERCIAL-TRASH ENCLOSURE-CONCRETE BLOCK GOOD

10285

2531
330

2005

2005
2005

$8,357

$4,088
$2,059

Building Information
Buildin 1 Description Year Built Value Actual Area Heated Area

Buildin 1 subarea

BARN/SHED 2005
$306,200 5712
5052

Bedrooms Bathrooms Fixtures Roof Cover Exterior Wall

8
4 COMPOSITE SHINGLE
(1.00) 6 SIDING ABOVE AVERAGE

Description	Code	Year Built	Total Sketched Area
BASE AREA	BAS	2005	3514
OPEN PORCH FINISHED	OPF	2005	224
OPEN PORCH FINISHED	OPF	2005	224
OPEN PORCH FINISHED	OPF	2005	168
OPEN PORCH FINISHED	OPF	2005	22
OFFICE-AVERAGE	OFA	2005	770
OPEN PORCH FINISHED	OPF	2005	22
OFFICE-AVERAGE	OFA	2005	768

Le al Descri tion
Legal Description	REUNION VILLAGE 18 PB 15 PGS 174-176 PARCEL 28 34-25-27

Page 2 -10/8/2019 9:36:19 AM

35 - 2 5 -2 7 -4 8 5 9 -P R C L- 0 2 B 0	12/13/2007

Page 3 -10/B/2019 9:36:19 AM

-

; ,

y

-

l	·:l	l
St	I	$

it

ryl
St	I	l ·   \'!I    J
(	I

Legend

 	IMSA Area
l\\,\\ \>IArea_ Excluded from MSA

Katrina S. Scarborough, CFA, CCF, MCF Osceola County Prop rty Appraiser
www.property-appra1ser.org
Osceola County Government Center
2505 East lrlo Bronson Memorial Hwy, Kissimmee, FL 34744 Ph: (407) 742-5000 Fax:( 407) 742-4900

Parcel: 35-25-27-4859-PRCL-0020

lillil"! .

Owner Information

Owner Name Malling Address

Physical Address Description
Tax District

REUNION EAST COD

135 W CENTRAL BLVD STE 320
ORLANDO, FL 32801
7715 HERITAGE CROSSING WAY, KISSIMMEE FL 34747 RESIDENTIAL COMMON ELEMENTS/AREA IMP
300 - OSCEOLA COUNTY

Tax Values
Current Values	Certified Values

Current Value represents working appraised values as of
10/07/2019, which are subject to change prior to certification
Land	$1
AG Benefit	$0
Extra Features	$1
Buildings	$1
AppralsedOust)	$3
Assessed(estlmated)	$3
Exemption(estimated)	$3
Taxable(estimated)	$0
* Assessed Values Reflect Adjustments for Agricultural Classification and/or the Save Our Homes Cap

Certified Value represents certified values that appeared on the tax roll as of 10/02/2019
Land	$1
AG Benefit	$0
Extra Features	$1
Buildings	$1
AppraisedOust)	$3
Assessed*	$3
Exemption	$3
Taxable	$0
Assessed Values Reflect Adjustments for Agricultural Classification and/or the Save Our Homes Cap

Sales Information
Se	
ORB-P	
Price	
Date	
Deed T	
e	
0	2380-0658	$100,000	2003-10-31	SW		
1		$0	2002-02-14	NC		
2	1928-1279	$0	2001-08-30	QC		
3	1750-2249	$14,753,800	2000-06-26	SW		

Page 1 -10/8/2019 9:41:49 AM

Land Information - Total Acreage: 3.30
Land Oescri tion	Units	De th	Land T	e	Land Value	
RURAL ACREAGE	3.30	0.00	AC	$33,000	

Extra Features
Extra Feature	Units	Year Built	Feature Value

TRASH ENCLOSURE-CONCRETE BLOCK AVERAGE	1150
LIGHTS AVERAGE	10
ASPHALT PAVING PER PARKING SPACE BELOW AVERAGE	88
CONCRETE/CONCRETE BLOCK WALL GOOD	510

2005
2005
2005
2005

$5,920
$7,800
$30,316
$2,448

Building Information
Buildin 1 Description Year Built Value  Actual Area Heated Area

Buildin 1 subarea

RECREATION 2005
$465,700 10946
9292

Bedrooms Bathrooms Fixtures Roof Cover Exterior Wall

4 COMPOSITE SHINGLE
(0.10) 13 BRICK I (0.90) 10 CONCRETE BLOCK STUCCO

Description	Code	Year Built	Total Sketched Area
BASE AREA	BAS	2005	9292
OPEN PORCH FINISHED	OPF	2005	350
OPEN PORCH FINISHED	OPF	2005	810
OPEN PORCH FINISHED	OPF	2005	350
OPEN PORCH FINISHED	OPF	2005	144

Le al Descri tion
Legal Description	REUNION VILLAGE 1B PB 15 PGS 174-176 PARCEL 2 34-25-27

Page 2 -10/8/2019 9:41:49 AM

Buildin	1 Sketch

  
2r

t

32

-'2
1

5

3

97'	,q

I
15
I._-	-   3r	=a

15

... 	

3  &t' -  _

5

3

 	.I

2	2

Page 4 -10/8/2019 9:41:49 AM

EXHIBIT118 11

First Year Budget

[ATTACHED BELOW]

16

EXHIBIT B

REUNION EAST
Community Development District
Heritage Crossing Community Center and Horse Stables Budget Estimated First Year Operating Costs

	HCCC	Stables	Total	
0 12e rat i ng Cost {CAM }:				
Landscape Mai ntena nee	$12,450.53	$	9,240.00	$21,690.53	
Electric - Duke	$22,549.95	$ 1,459.98	$24,009.93	
Water- KUA	$ 1,878.55	$ 1,341.21	$ 3,219 .76	
Gas - TECO Peoples Gas	$	298.50	$	$	298.50	
Telephone - Century	$ 1,340 .12	$	1,981.58	$ 3,321.70	
Telephone - Century Alarm Lines	$	$	1,227.12	$ 1,227 .12	
Contract Cleaning	$ 9,100.00	$	$ 9,100 .00	
Maintenance (Inspections)	$ 1,175.00	$	785.00	$ 1,960.00	
Pest Control	 $	$	$	
Total	 $48,792.65	$ 16,034.89	$64,827.54 

SECTION V- II

--- - .·-

S ECTl·ON -C

S	ECTION 1

Reunion East

Item#	Meeting Assigned	
Action Item	
Assigned To:	
Date Due	
Status	
Comments	

1	
3/14/11	
Irrigation Turnover	
Developer		
On Hold	Issue on Hold Pending CUP Negotiation	

2	

3/16/17	

Allocation of 532 Costs	

Scheerer/d'Adeskv		

On Hold	Proposals from Yellowstone presented at August meeting. Counsel Sent Demand Letters for Costs to Each Parcel Owner. Publix
Declined Sharing Costs.	

3	
4/11/19	Review of 4-Way Stop at Spine Road
& Tradition Blvd.	
Boyd		
In Process	Proposal from Fausnight on October Agenda.	

4	

4/11/19	Corolla Court Parking Issue; Evaluation of Addition of Street Parking Towaway Zones	
Williams/Cruz/ Scheerer		

In Process	
Rule Hearing Set for December 19, 2019 at 7 PM	

5	

4/11/19	

Patriot's Landing Small Retention Pond Cleanup	

Boyd		

In Process	Alan S. Met with Contractor to Assess Pond. Still Has Water at the Bottom. Will Continue to Review Pond so
Work can Commence.	

6	
4/11/19	
Creating Dog Parks/Playground	
Goldstein		
In Process	Awaiting Easement Agreement Signature	

7	

5/9/19	

Crosswalk in Front of Resort	

Boyd		

In Process	Crosswalk will be Completed Once Decorative Poles Arrive. Estimated 4-
6 Weeks.	

Reunion West

Item#	Meeting Assigned	
Action Item	
Assigned To:	
Date Due	
Status	
Comments	

1	

1/11/18	
Installation of Neighborhood Monuments	

Scheerer		

In Process	Monuments and Granite Complete. Waiting for Final Inspection by Osceola County.	

revised 11/7/2019

Item#	Meeting Assigned	
Action Item	
Assigned To:	
Date Due	
Status	
Comments	

2	

2/21/19	

Cost to Install Parking Spaces at Valhalla Mail Kiosk Area	

Boyd		

In Process	
Engineer Authorized to Prepare Work Authorizations for Parking Area and Landscaping Installations in Amount NTE $10,000 Each. Chairman
Authorized to Execute Authorizations.	

3	

2/21/19	

Evaluate Traffic Lanes for Sinclair Road Gate	

Boyd/Scheerer		

In Process	
Engineer Authorized to Prepare Work Authorizations for Traffic Lane Work in Amount NTE $10,000. Chairman
Authorized to Execute Authorizations.	

4	

4/11/19	
Review of 4-Way Stop at Tradition Blvd. & Golden Bear	

Boyd		

In Process	Proposal from Fausnight Approved. Contractor Estimates 4-6 Weeks to
Install Poles Once They Arrive.	

revised 11/7/2019

Reunion Resort & Club
Seven Eagles Cove COD Action Items Punch List

Ref
#	Notes & Action Items	Target Descrlotlon		Date	Responsible Partvl sl	Status/Notes/Next Steps	Completed Date	Comments	

1	

Landsca ii ino around buildino is over orowr	21-Mar	

Yellowstone	

Landsca oino needs to be reolaced in serval areas		

On Hold	

S ECTION 2

Reunion East
Community Development District
Summar y of Check Register
October 1, 2019 to October 31, 2019

I	Fund	Date	CheckNo.'s	Amount		
General Fund	10/7/19	4398-4404	$	77,892.18	
	10/11/19	4405	$	8,121.37	
	10/14/19	4406-4410	$	5,497.05	
	10/21/19	4411-4417	$	21,286.34	
	10/23/19	4418-4420	$	438.16	
	10/28/19	4421-4424	$	5,625.25	
			$	118,860.35	
Replacement & Maintenance	10/7/19	76-77	$	4,752.00	
	10/21/19	78	$	7,070.00	
	10/28/19	79	$	7,070.00	
			$	18,892.00	
Payroll	October 2019
Donald Harding	
50504	
$	184.70	
	John Dryburgh	50505	$	184.70	
	Mark Greenstein	50506	$	184.70	
	Steven Goldstein	50507	$	184.70	
	Trudy Hobbs	50508	$	184.70	
			$	923.50	

$	13s,67s.ss 1

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

STATUS

AMOUNT	••••CHECK•••••
AMOUNT	#

10/07/19 00074

10/07/19 00169

9/30/19 180351	201909 320-53800-47000
AQUATIC PLANT MGMT SEP19 9/30/19 180351	201909 300-13100-10100
AQUATIC PLANT MGMT SEP19
APPLIED AQUATIC MANAGEMENT, INC.
8/31/19 19314	201909 320-53800-49100
2-6'CHARLESTON BENCH W/BK
8/31/19 19314	201909 300-13100-10100
2-6'CHARLESTON BENCH W/BK

*	72.24
*	56.76
- - -  - - - - -  -  -  -  -1-29-.0-0 004398
*	1,306.61
*	1,026.63

BLISS PRODUCT AND SERVICES, INC

10/07/19 00164	9/25/19	
	9/25/19	

10/07/19 00011	
9/30/19	

10/07/19 00054	
10/07/19	

4	201910 310-51300-31300
REV.AMORT.-SER2015-1
4	201910 310-51300-31300
REV.AMORT.-SER2015-2

-  - - - - - - - - -   2-,3-33-.2-4 004399

-

*	500.00
*	500.00

DISCLOSURE SERVICES LLC
18715	201910 310-51300-32200
FY19 AUDIT FEES

- -	- - - - - - - -1-,0-00.-00-

-

*	500.00

004400

GRAU & ASSOCIATES
20190CT	201910 320-53800-34500 SECURITY SERVICES-OCT19
10/07/19 20190CT 201910 300-13100-10100 SECURITY SERVICES-OCT19

-  -  -  -  -  - - - - -  - -5-00-.0-0 004401
*	6,533.33

- - - -

*	5,133.33

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

REUNION RESORT & CLUB MASTER ASSOC.

- - - - - - - - -

- -11,666.66 0011402

10/07/19 00060	9/14/19
9/14/19
9/28/19
9/28/19
9/28/19
9/28/19
- - - - - - - - -  -  - -  -

343305	201909 320-53800-46200
TER-RPLC MOTOR/DIFF/SHAFT 343305	201909 300-13100-10100
TER-RPLC MOTOR/DIFF/SHAFT 343427	201909 320-53800-46200
HC POOLB-RPLC FLOWMETER
343427	201909 300-13100-10100
HC POOLB-RPLC FLOWMETER
343428	201909 320-53800-46200
HC POOLA-RPLC FLWMTR/LEAK 343428	201909 300-13100-10100
HC POOLA-RPLC FLWMTR/LEAK
SPIES POOL LLC

*	307.66
*	241.74
*	158.17
*	124.28
*	104.97
*	82.48
- - -  - - - - -  -  -  -1,-0-19.-30- 004403

10/07/19 00030 10/01/19
10/01/19

REU 5524 201910 320-53800-46200	*
AQUATIC SERVICES-OCT19
REU 5524 201910 300-13100-10100	*
AQUATIC SERVICES-OCT19

3,456.31
2,715.67

REUE REUNION EAST	TVISCARRA

CHECK  VEND# .••.•INVOICE..•••..•EXPENSED TO...	VENDOR NAME DATE	DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS
10/01/19 REU 5524 201910 320-53800-47300 MTHLY LNDSCP MAINT-OCT19
10/01/19 REU 5524 201910 300-13100-10100 MTHLY LNDSCP MAINT-OCT19
10/01/19 REU 5524 201910 330-53800-47300 MTHLY LNDSCP MAINT-OCT19

STATUS	AMOUNT	..••CHECK•••.• AMOUNT	#
*	30,346.88
*	23,843.97
*	881.15

YELLOWSTONE LANDSCAPE
10/11/19 00049	10/01/19 473	201910 310-51300-34000
MANAGEMENT FEES-OCT19
10/01/19 473	201910 310-51300-35100
INFORMATION TECH-OCT19 10/01/19 473	201910 310-51300-31300
DISSEMINATION FEE-OCT19 10/01/19 473	201910 310-51300-51000
OFFICE SUPPLIES
10/01/19 473	201910 310-51300-42000
POSTAGE
10/01/19 473	201910 310-51300-42500
COPIES
10/01/19 473	201910 310-51300-41000
TELEPHONE
10/01/19 474	201910 320-53800-12000
FIELD MANAGEMENT-OCT19

- - - - - - - - - - 6-1,-24-3.-98- 004404
*	3,689.58
*	183.33
*	833.33
*	16.11
*	18.50
*	53.10
*	6.50
*	3,320.92

GOVERNMENTAL MANAGEMENT SERVICES
10/14/19 00160 10/05/19 11201	201910 320-53800-12200
FACILITIES BLDG RENT OCT 10/05/19 11201	201910 300-13100-10100
FACILITIES BLDG RENT OCT

-  -  -  - - -  - - -  - -8-,1-21-.37-
*	1,906.97
*	1,498.33

004405

CITICOMMUNITIES LLC
10/14/19 00130 10/01/19 73993	201910 310-51300-54000
SPECIAL DISTRICT FEE-FY20

- - - - - - - - -  -  -3-,4-05-.30- 004406
*	175.00

DEPARTMENT OF ECONOMIC OPPORTUNITY
10/14/19 00010	10/08/19 6-760-66 201910 310-51300-42000
DELIVERY 10/03/19

- - - - -  -  -  - - - - -1-75-.0-0 004407
*	89.84

FEDEX
10/14/19 00092	9/25/19 092519	201909 330-53800-43300
BALLROOM CLEANING SEP19 9/30/19 093019	201909 320-53800-41000
HC PHONE LINE 4574 SEP19 9/30/19 093019	201909 300-13100-10100
HC PHONE LINE 4574 SEP19

- - - - - - - - - -
*	700.00
*	33.02
*	25.95

89.84 004408

REUE REUNION EAST	TVISCARRA

CHECK  VEND# •••..INVOICE•.••••••EXPENSED TO...	VENDOR NAME DATE	DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS
9/30/19 093019	201909 330-53800-41000
HC PHONE LINE 9758 SEP19 9/30/19 093019	201909 330-53800-41000
HC PHONE LINE 9867 SEP19

STATUS	AMOUNT	•.••CHECK••••• AMOUNT	#
*	58.97
*	58.97

10/14/19 00030

REUNION RESORT
3/31/19 REU 1056 201903 320-53800-47400 DEAD PALM TREE REMOVAL
3/31/19 REU 1056 201903 300-13100-10100 DEAD PALM TREE REMOVAL

-  - - - -  - - -	- -  -87-6-.91- 004409

-

*	532.00
*	418.00

YELLOWSTONE LANDSCAPE
10/21/19 00095	10/08/19 Sll2142 201910 320-53800-57400
RPLC SHEAR PIN/SCRW ARM 10/08/19 Sl12142 201910 300-13100-10100
RPLC SHEAR PIN/SCRW ARM

- - - - - -  -  -  - - - -9-50-.00 004410

-

*	90.48
*	71.09

ACCESS CONTROL TECHNOLOGIES, INC.
10/21/19 00119	10/14/19 87980	201909 310-51300-31500	*
MTG/07/19 RESOLVE/SECURTY
10/15/19 87999	201909 310-51300-31500	*
PERSONAL INJURY CASE/INSR

1,631.50
1,307.50

161.57 004411

LATHAM,LUNA,EDEN & BEAUDINE,LLP
10/21/19 00163	10/05/19 1501	201910 320-53800-47500	*
PRS WSH-POOL FRNTIURE TER
10/05/19 1501	201910 300-13100-10100	*
PRS WSH-POOL FRNTIURE TER

196.00
154.00

2,939.00 004412

10/21/19 00092

PRESSURE WASH THIS
8/08/19 63650	201908 320-53800-47800
UNITED FIRE-CTRL PNL/BATT 8/08/19 63650	201908 300-13100-10100
UNITED FIRE-CTRL PNL/BATT 9/30/19 DUKE-DUK 201908 320-53800-43000
DUKE ENERGY #12715 05144
9/30/19 DUKE-DUK 201908 320-53800-43000
DUKE ENERGY #31537 19104
9/30/19 RECDDREE 201909 320-53800-46200 POOL CLEANING SERVS SEP19
9/30/19 RECDDREE 201909 300-13100-10100 POOL CLEANING SERVS SEP19
9/30/19 093019A 201909 320-53800-41000 HC PHONE LINE 2365 SEP19
9/30/19 093019A 201909 300-13100-10100 HC PHONE LINE 2365 SEP19

*	1,891.68
*	1,486.32
*	196.99
*	704.62
*	1,848.00
*	1,452.00
*	33.02
*	25.95

350.00 004413

REUE REUNION EAST	TVISCARRA

CHECK  VEND# •••..INVOICE••••••••EXPENSED TO...	VENDOR NAME DATE	DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS
9/30/19 093019A 201909 320-53800-41000 HS PHONE LINE 9325 SEP19
9/30/19 093019A 201909 300-13100-10100 HS PHONE LINE 9325 SEP19
9/30/19 093019A 201909 320-53800-41000 HS PHONE LINE 9385 SEP19
9/30/19 093019A	201909 300-13100-10100 HS PHONE LINE 9385 SEP19

STATUS

*
*
*
*

AMOUNT	.••.CHECK•.•••
AMOUNT	#
33.02
25.95
33.02
25.95

REUNION RESORT
10/21/19 00154	10/07/19 8141	201910 320-53800-48000
LANDSCAPE CONSULTING OCT 10/07/19 8141	201910 300-13100-10100
LANDSCAPE CONSULTING OCT

- - -  - -  -  -  -  - - -7-,7-56-.52- 004414
*	1,820.00
*	1,430.00

SUNSCAPE CONSULTING
10/21/19 00142	10/08/19 66376	201910 320-53800-47800
STABLES BACKFLOW INSPECT 10/08/19 66376	201910 300-13100-10100
STABLES BACKFLOW INSPECT 10/08/19 66377	201910 330-53800-47800
HC BACKFLOW INSPECT
10/08/19 66443	201910 330-53800-47800
HC QRTRLY SPRNKLR INSPEC 10/08/19 66456	201910 320-53800-47800
STBLES QTRLY SPRNKLR INSP 10/08/19 66456	201910 300-13100-10100
STBLES QTRLY SPRNKLR INSP

- - - - -  -  -  -  -	-3-,2-50-.0-0 004415

-

*	50.40
*	39.60
*	90.00
*	65.00
*	36.40
*	28.60

UNITED FIRE PROTECTION, INC.
10/21/19 00030 10/15/19 REU 5976 201910 320-53800-47400
WATSON CRT-BUTTERFLY GRDN 10/15/19 REU 5976 201910 300-13100-10100
WATSON CRT-BUTTERFLY GRDN

-  -  -  - - - -	- - - -3-10-.0-0 004416

-

*	3,650.78
*	2,868.47

YELLOWSTONE LANDSCAPE
10/23/19 00166	10/15/19 307904ES 201909 320-53800-43200
GAS CHARGE 09/06-10/07/19 10/15/19 307904ES 201909 300-13100-10100
GAS CHARGE 09/06-10/07/19

-  -  -  -  - - - - -	-6,-51-9.-25- 004417

-

*	73.82
*	58.00

FLORIDA NATURAL GAS
10/23/19 00002	9/21/19 10814659 201909 310-51300-48000
NOT.OF FY20 MEETING DATES
ORLANDO SENTINEL COMMUNICATION

- - - -  -  -  -  -  - - - -1-31.8-2 004418

-

*	271.25
271.25 004419

REUE REUNION EAST	TVISCARRA

CHECK  VEND#  ••.•.INVOICE..... •.•EXPENSED TO.•.	VENDOR NAME DATE	DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS
10/23/19 00049	10/23/19 477	201908 320-53800-47200
BALLAST - CF0375 AUG19 10/23/19 477	201908 300-13100-10100
BALLAST - CF0375 AUG19

STATUS	AMOUNT	••••CHECK••••• AMOUNT	#
*	19.65
*	15.44

GOVERNMENTAL MANAGEMENT SERVICES
10/28/19 00144 10/22/19 11752782 201910 320-53800-47700	*
CLN CNDNSR COIL/RPR INSUL
10/22/19 11752782 201910 300-13100-10100	*
CLN CNDNSR COIL/RPR INSUL

281.68
221.32

35.09 004420

FRANK'S AIR CONDITIONING, INC.
10/28/19 00140 10/23/19 5202943	201909 310-513-00-31500
TAX ADVICE-FACILITY MGMT

*	1,999.20

503.00 004421

GREENBERG TRAURIG P.A.
10/28/19 00060 10/02/19 344225	201910 320-53800-46200	*
HC POOLB-RMV WIRE/RESTRT
10/02/19 344225	201910 300-13100-10100	*
HC POOLB-RMV WIRE/RESTRT
10/02/19 344226	201910 320-53800-46200	*
HC POOLA-DESOOT EXCHG/CLN
10/02/19 344226	201910 300-13100-10100	*
HC POOLA-DESOOT EXCHG/CLN
10/03/19 344237	201910 320-53800-46200	*
HS POOL-PM INSPCT/CLN HTR
10/03/19 344237	201910 300-13100-10100	*
HS POOL-PM INSPCT/CLN HTR
10/03/19 344238	201910 320-53800-46200	*
HC POOLB-ADJ.HNGE/JET/EYE
10/03/19 344238	201910 300-13100-10100	*
HC POOLB-ADJ.HNGE/JET/EYE
10/04/19 344245	201910 320-53800-46200	*
HS POOL-INST.SLFCLSE GATE
10/04/19 344245	201910 300-13100-10100	*
HS POOL-INST.SLFCLSE GATE
10/04/19 344246	201910 320-53800-46200	*
TER POOL-INSPCT/CLN HEATR
10/04/19 344246	201910 300-13100-10100	*
TER POOL-INSPCT/CLN HEATR
10/09/19 344284	201910 320-53800-46200	*
HS-RPR A.FILL/VOLUTE/LEAK
10/09/19 344284	201910 300-13100-10100	*

*

HS-RPR A.FILL/VOLUTE/LEAK
10/11/19 344394	201910 320-53800-46200
HS-RPLC PILOT/RPR LEAK HT
REUE REUNION EAST	TVISCARRA

96.60
75.90
163.49
128.46
249.20
195.80
173.29
136.16
152.54
119.86
277.20
217.80
257.24
202.11
270.14

1,999.20 004422

CHECK  VEND# •••••INVOICE.•••. ..•EXPENSED TO...	VENDOR NAME DATE	DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS
10/11/19 344394	201910 300-13100-10100
HS-RPLC PILOT/RPR LEAK HT 10/11/19 344395	201910 320-53800-46200
TERR-INSPCT HTR/VALV ADJ.
10/11/19 344395	201910 300-13100-10100
TERR-INSPCT HTR/VALV ADJ.
SPIES POOL LLC

STATUS	AMOUNT	•...CHECK•.••.
AMOUNT	#
*	212.26
*	109.20
*	85.80
3,123.05 004424

TOTAL FOR BANK A TOTAL FOR REGISTER

118,860.35
118,860.35

REUE REUNION EAST	TVISCARRA

CHECK  VEND#  ...••INVOICE..•••••.EXPENSED TO...	VENDOR NAME DATE	DATE	INVOICE	YRMO DPT ACCT# SUB SUBCLASS
10/07/19 00019	9/30/19 51888	201909 320-53800-60000
BOUNDARY SURVEY DOG PARK 9/30/19 51888	201909 300-13100-10100
BOUNDARY SURVEY DOG PARK

STATUS

*
*

AMOUNT	•..•CHECK•••••
AMOUNT	#
336.00
264.00

GEO POINT SURVEYING, INC.
10/07/19 00006	10/01/19 343559	201909 320-53800-64000
HC POOLB-INST.ASME HEATER 10/01/19 343559	201909 300-13100-10100
HC POOLB-INST.ASME HEATER

- - -  -  -  -  -  - - - -  -6-00-.0-0 000076
*	2,325.12
*	1,826.88

SPIES POOL, LLC
10/21/19 00003	10/18/19 101819RE 201910 320-53800-63000
50% DEP-LOUNGE/CHAIR/TABL
10/18/19 101819RE 201910 300-13100-10100
50% DEP-LOUNGE/CHAIR/TABL

- -  - - - - - -  -  - -4-,1-52-.0-0 000077
*	3,959.20
*	3,110.80

JNJ HOME SERVICES
10/28/19 00003	10/18/19 101819RE 201910 320-53800-63000
30LOUNGE/24CHAIRS/6TABLES
10/18/19 101819RE 201910 300-13100-10100
30LOUNGE/24CHAIRS/6TABLES
JNJ HOME SERVICES

- - - - - - - - - - -7-,0-70-.00- 000078
*	3,959.20
*	3,110.80
7,070.00 000079

TOTAL FOR BANK C TOTAL FOR REGISTER

18,892.00
18,892.00

REUE REUNION EAST	TVISCARRA

S ECTION 3

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•	•	•	•	•	•

Reunion East
Community Development District

Unaudited Financial Reporting

September 30, 2019

Table of Contents

 	Balance Sheet 

 	General Fund Income Statement 

 	Replacement  & Maintenance  Income Statement 

Debt Service Series 2002A-2 Income Statement

 	Debt Service Series 2005 Income Statement 

Debt Service Series 2015A Income Statement

Debt Service Series 2015-1Income Statement

Debt Service Series 2015-2 Income Statement

 	Debt Service Series 2015-3 Income Statement 

 	Capital Projects Series 2005 Income Statement 

11-12	Month to Month

13-14	FY19 Assessment Receipt Schedule

Reunion East
COMMUNITY DEVELOPMENT DISTRICT COMBINED BALANCE SHEET
September 30, 2019

General	Replacement
& Maintenance	Debt Service	Capital Projects	(Memorandum Only) 2019	
ASSEIS:.
CASH	
$1,134,282	
$579,019			
$1,713,301	
CUSTODY ACCOUNT	$462,874				$462,874	
STATE BOARD OF ADMINISTRATION		$2,651,760			$2,651 ,760	
ASSESSMENT RECEIVABLE	$7,747		$18,365		$26,112	
INVESTMENTS						
SERIES 2002A-2						
Reserve			$3		$3	
Revenue			$ 104,508		$104,508	
SERIES 2005						
Reserve			$4		$4	
Revenue			$221 , 125		$221,125	
Construction				$10	$10	
SERIES 20I SA						
Reserve			$175,000		$175,000	
Revenue			$887,421		$887,421	
Prepayment			$23		$23	
SERIES 2015-1						
Reserve			$345,275		$345,275	
Revenue			$323,938		$323,938	
Prepayment			$4,147,929		$4,147,929	
SERIES 20I 5-2						
Reseive			$374,013		$374,013	
Revenue			$279,644		$279,644	
Prepayment			$1,547,313		$1,547,313	
SERIES 2015-3						
Revenue			$1 04,541		$104,541	
DUE FROM GENERAL FUND			$5,000		$5,000	
DUE FROM REUNION WEST	$66,876	$44,183			$111,059	
PREPAID EXPENSES	$42,843				$42,843	
TOTAL ASSETS	$1,714,622	$3,274,962	$8,534,102	$10	$13,523,695

IIABHmES•
ACCOUNTS PAYABLE	
$19,078	
$4,752			
sn,s30	
CONTRACTS PAYABLE	$1,323				$1,323	
DUE TO DEBT 2015A	$5,000				$5,000	
DUE TO REUNION WEST	$9,247	$86,643			$95,890	
ACCRUED INTEREST PAYABLE 2002A-2			$2,386,164		$2,386,164	
ACCRUED PRINCll'AL PAY ABLE 2002A-2			$2,545,000		$2,545,000	
ACCRUED INTEREST PAYABLE 2005			$1,762,040		$1,762,040	
ACCRUED PRINCIPAL PAYABLE 2005			$2,045,000		$2,045,000	
6 /NP fOIIDY·
FUND BALANCES:						
ASSIGNED	$242,752	$3,183,567			$3,426,319	
UNASSIGNED	$1,437,222				$1,437,222	
RESTRICTED FOR DEBT SERVICE 2002A-2			($4,826,653)		($4,826,653)	
RESTRICTED FOR DEBT SERVICE 2005			($3,585,911)		($3,585,91 I)	
RESTRICTED FOR DEBT SERVICE 2015A			$1,085,621		$1,085,621	
RESTRICTED FOR DEBT SERVICE 2015-1			$4,817,330		$4,817,330	
RESTRICTED FOR DEBT SERVICE 2015-2			$2,200,970		$2,200,970	
RESTRICTED FOR DEBT SERVICE 2015-3			$104,541		$104,541	
RESTRICTED FOR CAPITAL PROJECTS				$10	$10	
TOTAL UABIUTIES & FUND EQUITY	 		 		
& OlllER CREDITS	$1 ,714,622	$3,2741 9  62	ssIs34I102	$10	$131 523,695	

Reunion East
COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUND
Slatement of Revenues & Expenditures
For The Period Ending September 30, 2019
ADOPTED	PRORATED BUDGET	ACTUAL

FXPFNOID JBFS·

AQMfNfStBlrDYE ·		
Supervisor Foes	$12,000	$12,000	511,800	5200	
FICA	$918	$918	$903	SJS	
Eoginmiog	$15,000	$15,000	58,739	$6, 261	
Attomcy	$35,000	$35,000	$38,603	($3,603}	
TNSlec Fees	$17,500	$17,500	Sl6,310	$1, 190	
Albitrage	$3,600	$3,600	$600	$3,000	
Collection Agent	55,000	$5,000	$5,000	$0	
Dissemination	55,000	$5,000	$6,550	(51,550}	
Propaty Appnlisc< Fc:c:	S1,000	$ 1,000	$669	$331	
Property Taxes	S400	$400	$40	$360	
AwNAI Audit	SS,200	$5,200	$5,200	$0	
District Mmagancnc Fcca	$44, 275	$44,275	$44,275	$0	
llllo111\11ion Tedmology	$2,200	$2,200	$2,200	$0	
Tdephono	$300	$300	$179	$121	
Postage,	$3 ,500	$1,500	Sl,596	S1,904	
Printloa & Binding	$2 ,500	Sl,500	Sl , JSS	S1,345	
""'"""'	$ 14,800
$ 1,SOO	$14,800
Sl,500	SJJ,453
$3,916	S1,347 ($2,416)	
Other CUJTCDI Charges	S600	$600	so	$600	
OIJ"toe Supplia	ssoo	$500	5862	($363)	
Travd Per Diem	5S00	S500	so	$500	
Dues, Licenses & Subsaiptions	$175	5175	5175	so	
TOTAL AOMINISTRATIVE	
$171.468	$171,468	
S162 224	s91244 I	
l,UllllrFNJttJ,CE:,$,tJABE.Q fl.eE.t:JS.ES:					
Field Manaaemmt	$39,851	$39,851	$39,851	$0	
Facility Lease Agrocmem	S22, 884	$22,884	$22,884	$0	
Tdq,booe	$4,760	$4,760	$4,731	$29	
Eledric	$330 , 400	$330,400	Sl36,668	($6, 268)	
Wat.rr&Sev.u-	$44,800	$44,800	$38,066	$6,734	
Gos	$43,120	$43,120	$23,484	$19,636	
Pool & Pountain Maintenance	S98,000	$98,000	$105,675	($7,675)	
Eovironmental	$5,600	SS,600	S4,l22	$1,278	
Prop<rty Insurance	Sl S,620	$ 25,620	S23,2ll	$2,367	
brigation Rquiirs	$8,400	$8,400	SI0,187	($1,787)	
Landscape Contract	$434,722	$434,122	$410,254	524,468	
I.mdscapc Continga,cy	521,742	$21,742	$48,387	(526,645)	
Landscape ConsuUiog	$21,840	$21,840	$26,216	($4,376)	
O•e and Oardlousc Expenses	S17,920	S17,920	$13,427	54,493	
Roadways/Sidewalks	S28,000	$28,000	$12,641	$15,359	
Ligh1in1	SS,600	$5,600	$1, 80 1	$3,199	
MSA 8uildiag Repairs	Sll,400	$22,400	$11,419	$10,981	
Pressure Washing	511,200	$11,200	$4,112	$6,888	
Maintenance (ID.$poctions)	S980	$980	$3,628	($2,648)	
Repairs & Maintcmaee	$11,200	$11,200	$499	$10,701	
Pest Coottol	$406	$406	$0	$406	
Slgn,gc	$2,240	$2,240	SS,63S	($3,395)	
S=rity	$78,400	$78,400	S78,400	so	
QJUM£tW.O: C.E.tDZ.B·					
La,<bape	$16,000	$16,000	$12,047	S3,9S3	
Tdcpbone	$1,500	$1,500	$1,353	$147	
Elcdrit	$25,000	$25,000	$23,111	Sl , 889	
Watcr&Sewu-	$2,500	$2,500	$2,056	$444	
Gos	$350	$350	$292	$58	
Cootract Cleaning	$10,000	$10,000	$9,100	$900	
Maintenance (lnspoctions)	Sl,250	51,250	$1,843	($S93)	
&.unau.r1.c.E='21BE.CI.a eE: £&·					
hripion System Operations	5100,000	$100,000	$0	$100,000	
Contingmcy	$0	$0	Sl,307	(Sl.307)	
TnmferOut	$412,280	$412,280	$412,280	$0	

 	BUDGET	THRU 9130119	THRU 9/30/19	VARIANCE 
BEll£WI.ES.		
Special Assessments • Tux Collector	Sl, 092,735	$1,092,735	Sl,118,725	$25,990	
Special Assessmmts • Oin::ca	S922,6n	$922,677	5922,678	$1	
lll!etal	S2SO	$ 250	Sl,328	Sl,078	
Mi5C:Cllaocous Income	$4,771	S4, n l	$9,098	$4,321	

TOTAL REVENUES	 	U  020.433	S2 020 ,433	S2 051.829	$31 3961

Legal AdVatising

TOTAL MAINTENANCE	 	$ 1,84, 8 965	SI 848.965	$1 689  128	$1S9 838 
TOTAL EXPENDITURES	12 .020 433    	$2,020.433	SI 8SL3Sl	$16,9 081 

EXCESS REVENUES (EXPENDITURES) 	$0	$200 471	
FUND B ALANCE • Beginning	 	$0	$1. 479,497	 FUND BALANCE•  Ending		!2		$1,679 974
2

REPLACEMENT & MAINTENANCE FUND
Statement of Revenues & Expenditures
For The Period Ending September 30, 2019

REVENUES:		ADOPTED BUDGET	PRORATED
THRU 9/30/19	ACTUAL THRU 9/30/19	

VARIANCE		
Transfer In		$412,280	$412,280	$412,280	$0		
Interest		$10,000	$10,000	$66,200	$56,200		
TOTAL REVENUES		$4221  280 	$422 1 280 	s41si4so	ss6i200 1		

EXPENDITURES:							
Building Improvements		
$100,800	
$100,800	
$15,455	
$85,345		
Fountain Improvements		$14, 000	$14,000	$0	$14,000		
Gate/Gatehouse Improvements		$0	$0	$3,244	($3,244)		
Landscape Improvements		$75,600	$75,600	$28,157	$47,443		
Lighting Improvements		$4,480	$4,480	$0	$4,480		
Monument Improvements		$14,000	$14,000	$86,643	($72,643)		
Pool Furniture		$6,720	$6,720	$9,383	($2,663)		
Pool Repair & Replacements		$22,400	$22,400	$6,975	$15,425		
Roadways/Sidewalks Improvement		$5,600	$5,600	$34,286	($28,686)		
Signage		$36,400	$36,400	$24,322	$12,078		
Signalization		$0	so	$85,624	($85,624)		
Contingency		$0	so	$336	($336)		

TOTAL EXPENDITURES	 	$280,000	$280,000	$294,425	($14.425)!

EXCESS REVENUES {EXPENDITURES)	$142,280	$184 ,056	
			
FUND BALANCE - Beginning	$2,909,272	$2,999,511	

FUND BALANCE • Ending

 	$3.051.552	$3,183.567	

3

Debt Service 2002A-2 Statement of Revenues & Expenditures For The Period Ending September 30, 2019

REVENUES:	ADOPTED	PRORATED	ACTUAL
 	BUDGET	THRU 9/30/19	THRU 9/30/19	VARIANCE		
Special Assessments	$0	$0	$0	$0	
Interest	$0	$0	$2,085	$2,085	
TOTAL REVENUES	$0	$0	$2,085	$2,085 1	

EXPENDITURES:		
Interest Expense 11/01	$0	$0	$0	$0	
Principal Expense 05/01	$0	$0	$0	$0	
Interest Expense 05/01	$0	$0	$0	$0	
TOTAL EXPENDITURES	 	$0	$0	$0		
OTHER flNANCINQ SOURCES (USES)		
Transfer In (Out)	$0	$0	$0	$0	
Other Debt Service Costs	$0	$0	($12,253)	($12,253)	
TOTAL OTHER	$0	$0	($12.253)	($12 253)1	
		
EXCESS REVENUES (EXPENDITURES)	 	$0	($10,168)	
FUND BALANCE - Beginning	$0	($4,816.486)	
		
FUND BALANCE - Ending	$0	($, 4 826,653)	

4

Debt Service 2005
Statement of Revenues & Expenditures For The Period Ending September 30, 2019

	ADOPTED	PRORATED	ACTUAL
 	BUDGET	THRU 9/30/19	THRU 9/30/19	VARIANCE		
REVENUES:					
Special Assessments	$0	$0	$0	$0	
Interest	$0	$0	$4,268	$4,268	

TOTAL  REVENUES	 	$0	$0	$4,268	$4,268 1

EXPENDITURES:		
Interest Expense 11/01	$0	$0	$0	$0	
Principal Expense 05/01	$0	$0	$0	$0	
Interest Expense 05/0 I	$0	$0	$0	$0	
TOTAL EXPENDITURES	 	$0	$0	$0		so I

OTHER FINANCING SOURCES (USES)		

Transfer In (Out)	$0	$0	$0	$0	
Other Debt Service Costs	$0	$0	$0	$0	
TOTAL OTHER	 	$0	$0	$0		so I
EXCESS REVENUES (EXPENDITURES)	 	$0	$4,268	

FUND BALANCE- Beginning	 	$0	($3,590,179)	

FUND BALANCE - Ending	$0	($3,585,91 I)

5

Debt Service 201SA Statement of Revenues & Expenditures For The Period Ending September 30, 2019

ADOPTED	PRORATED	ACTUAL

TOTAL REVENUES

I	$ 2 , 568 . 695

 	BUDGET	THRU 9/30/19	THRU 9/30/19	VARIANCE		
REVENUES:					
Special Assessments • Tax Collector	$2,568,595	$2,568,595	$2,624,827	$56,232	
Interest	$100	$100	$23,038	$22,938	
		$ 2 , 5 68 . 695	$ 2 , 647 , 865	s 19 . 110 1	

EXPENDITURES:					
Interest Expense 11 / 01	
$666,325	
$666,325	
$666,325	
$0	
Principal Expense 05/0I	$1,265,000	$1,265,000	$1,265,000	$0	
Interest Expense 05/0 I	$666,325	$666,325	$666,325	$0	
TOTAL EXPENDITURES	 	$2. 597 .650	$2 ,597. 650	$2,597, 650	so !	
PIHEB flNANCING souaces (USES)					
Transfer In (Out)	so	
$0	
$0	
$0	
Other Debt Service Costs	$0	$0	$0	$0	
TOTAL OTHER	$0	$0	$0	$0	
					
EXCESS REVENUES (EXPENDITURES)	($28,955)		$50 , 215 		

FUND BALANCE - Beginning	 	$841.825	$ 1. 035 . 406	
FUND BALANCE - Ending	$812,870	$1 , 085 . 62 1	

6

	ADOPTED
BUDGET	PRORATED
THRU 9/30/19	ACTUAL
TIIRU 9/30119	
VARIANCE	
REVENUES:						
Special Assessments - Tax Collector		$22,855	$22,855	$27,138	$4,283	
Special Assessments - Direct Billed		$656,310	$656,310	$656,310	($0)	
Special Assessments - Prepayment			$0	$4,147,929	$4,147,929	
Interest		$0	$0	$38,440	$38,440	
TOTAL REVENUES	 		$6791  1  65	$679. 165	$4.8691  8  17	$4.190,6s2 1	

EXPENDITURES:						
Interest Expense 11/0I	$212,685	$212,685	$212,685	$0	
Principal Expense 05/0I	$260,000	$260,000	$260,000	$0	
Interest Expense 05 / 0I	$212,685	$212,685	$212,685	$0	
TOTAL EXPENDITURES	 	$685  ,370		$6 85.370		$685,370	so i	
OTHER FINANCING SOURCE$ (U$E$)						
Transfer In (Out)		$0	so	so	$0	
Other Debt Service Costs		$0	$0	$0	$0	

•

TOTAL OTHER	 	$0	$0	$0		$0 I
EXCESS REVENUES (EXPENDITURES)    		'  $6 .205j      		$4.1841  4 47	 	

FUND BALANCE· Beginning	 	S285,892		$632,883	 	

FUND BALANCE • Ending	$279.687	$4.817,330

7

	ADOPTED
BUDGET	PRORATED
THRU 9/30/19	ACTUAL
THRU 9/30/19	
VARIANCE	
REVENUES:					
Special Assessments - Direct Billed	$745,860	$745,860	$745,861	$1	
Special Assessments - Prepayment	$0	$0	$1,548,396	$1,548,396	
Interest	$!00	$100	$21,357	$21,257	

EXPENDITURES:		
Special Call 11/01		$0	$0	$5,000	{$5,000)	
Interest Expense 11/0 I		$258,390	$258,390	$258,390	$0	
Principal Expense 05 /0I		$235,000	$235,000	$235,000	$0	
Interest Expense 05/01		$258,390	$258,390	$258,225	$165	
TOTAL EXPENDITURES		$751,780	$751i7so	$756,615	($4.83511	
QTHEB FINANCING snueces ,uses,						
Transfer In (Out)		$0	$0	$0	$0	
Other Debt Service Costs		$0	$0	$0	$0	
TOTAL OTHER		$0	$0	$0	$0	
						
EXCESS REVENUES (EXPENDITURES)	 		{$5,820)	 		$1.558 ,999	 		
FUND BALANCE • Beginning		$266.544		$641,970		

TOTAL  REVENUES	•	 	$745,960	$745,960		$2.31516   14	SU  69,654 I

FUND BALANCE· Ending	 	$260,724	$2,200,970	

8

	ADOPTED
BUDGET	PRORATED
THRU 9/30/19	ACTUAL
THRU 9/30/19	
VARIANCE	
REVENUES:					
Special Assessments - Direct Billed	$336,265	$336,265	$335,259	($1,006)	
Interest	$0	$0	$1,760	$1,760	
TOTAL  REVENUES	I	$336   . 265	 	$336.265	$337,019		$754 I	
EXPENDITURES:						

Interest Expense 11/0 I		
$104,775	
$104,775	
$104,775	
$0	
Principal Expense 05/0 I		$130,000	$130,000	$130,000	$0	
Interest Expense 05/0 I		$104,775	$104,775	$104,775	$0	

TOTAL EXPENDITURES		
$339,550	
$339.550	
$339.550	so !	
OTHER BNANCING SOURCES (USES)						
Transfer In (Out)		$0	$0	$0	$0	
Other Debt Service Costs		$0	$0	$0	$0	
TOTAL OTHER		$0	$0	$0	$0	
						
EXCESS REVENUES (EXPENDITURES)	 		(S3,285l		!$2,531)		
						
FUND BALANCE· Beginning	 		$106.792		$107. 073		
						
FUND BALANCE • Ending		$103.507		$104,541		

9

For The Period Ending September 30, 2019

ADOPTED	PRORATED	ACTUAL
 	BUDGET	THRU 9/30/19	THRU 9/30/19	VARIANCE		
REVENUES:					
Interest	$0	$0	$0	$0	

TOTAL REVENUES	
 	$0		
$0		
$0		$0 I	
EXPENDITURES:					
Capital Outlay	$0	$0	$0	$0	
TOTAL EXPENDITURES	 	$0	$0	$0		so I

•	
OTHER EINANC!NG SOURCES (USES)						
Transfer In (Out)

TOTAL OTHER		$0
I 	$0		$0

$0		$0

$0		$0
$0 I	
EXCESS REVENUES (EXPENDITURES)	I 	$0		$0	
FUND BALANCE • Beginning	 	$0		$10	
FUND BALANCE • Ending	I	$0	$10

10

Oct	Nov	Dec	Jan	Feb	Mar	Apr	Ma):	Jun	Jul	Aul!	Sept	Total

Revenues
Special Assessments - Tax Collector	so	$147,278	S578,826	$38,125	$47,814	S66,921	572,525	535,787	Sl23,608	S96	so	S7,747	$1,118,725
Special A. scssments - Dina	so	Sl,848	so        $454,924	S8,237	so        $227,462	$227,462	$2,746	so	so	$0	5922,678
Interest	S114	5118	$114	S118	$118	5106	Sl18	$114	$118	$114	S98	S79	Sl,328
Miscellaneous Income	S398	so	so	S7,500	so	so	so	so	$0	Sl,200	$0	so	$9,098
Total Revenues	f511	$149 ,2 43	$578,939          $500.667	! 56,168	$67,027	n oo.1os	! 263,362          $126,472	! 1,410	$98	$7,826	S2,os118 29 I
Expenditures
Administrative
Supervisor Fees	Sl,000	Sl,000	$1,000	$1,000	Sl,000	$1,000	S800	$1,000	Sl,000	$1,000	$1,000	$1,000	$11,800 FICA		$77		$77		$77		$77		S77		$77		$61		$77		$77		$77		$77		$77		S903
Engineaing	Sl,201	S769	$470	S816	$1,146	S900	Sl,551	so	$471	$1,266	SISO	so	$8,739
Attorney	$5,045	$1,422	$2,961	$4,409	$2,408	$3,131	$892	$3,142	S2,8S0	$3,019	$4,386	S4,938	$38,603
Trustee Fec:s		so	so	so	$0	so	so	$0	$0	so         $12,000	$4,310	so	$16,310 Arl>itrag<		so	$0	so	so	$0	so	$0	so	so	S600		so	so		S600 Collection Agent	S5,000	$0	so	so	so	so	so                so                $0                        so               so                so            SS,000
Disscmiwiion	$467	$417	$417	S417	S417	Sl,417	S417	$417	$542	$542	SS42	$542	$6,550
Propaty Appraiser F"'	so		so	so	$669	so		so	so	so	so	so	so	so	$669 Propaty Taxes	so	$40	so		so	so		so	so	so	so	$0	so	so		S40 Annual Audit	so		so	so		so	so	SS,200                          so                   $0                          so                 $0                          so                so              SS,200
District Management Fees	$3,690	$3,690	S3,690	53,690	$3,690	$3,690	$3,690	$3,690	$3,690	$3,690	$3,690	$3,690	$44,275
Infonnation Technology	$183	$183	S183	Sl83	S183	$183	$183	$183	$183	$183	Sl83	S183	$2,200 Tel'Phooe		so		$33		$20		so		$38			so		$14		$30		S6		so		538		so		$179 Postage	$100		Sl4		$23		$6		Sl9		$16                       $86                        $24                        $23                       SIO                        $17                  Sl,259                    $1,596
Printing & Binding		S92	$25	$39	$50	Sl41	$56	S94	$41	$46	$96	S59	$418		$1,155 Insurance	$13,453		$0		$0		so		so		so		so		so		$0		so		$0		so	$13,453 Legal Advmising			so		so		so		so	$193		so                so             $170                    so            S3,282                     $0                    $271                     S3,916 Other Cun-mt Charges                                                    so                   so                so                so                so                $0                         so                so                so                $0                         so                $0                          $0
Office Supplies		S21	$426	$21	$20	Sl6	$21	$37	S21	$21	$16	S21	$221	$862 Travel Pe:r Diem			so		so		$0		so		$0		so		so		so		so		so		so		$0		so Dues, Liceosc:s & Subscriptions	S175		$0		so		$0		so		so                 so                 so                 so                 so                 $0                         so               S175
$ 30 ,5 03	$8,094	$8,899	$11,335	$9,327	$15,690	$7 ,82	$8,794	$8,908	$25,779	$14,471	$12,599	$162,2241

11

Oct	Nov	Dec	Jan	Feb	Mar	Apr	Mal	Jun	Jul	Aug	See!	Tola!
Maintenance
Field Management	$3,321	$3,321	$3,321	$3,321	$3,321	$3,321	$3,321	$3,321	SJ,321	$3,321	$3,321	S3,321	$39,851
Facility Lease   eot	S!,907	$1,907	S!,907	Sl,907	$1,907	S!,907	$1,907	$1,907	$1,907	Sl,907	$1,907	$1,907	$22,884
Telephone			$392			$393			$373			$393			$393			$394		$395		$394		$394		S395		$411		S407		$4,731 Elcdric	$26,760	S28,742	$28,694	S27,990	$27,462	$27,873	$27,918	$28,110	$29,031	S28,930	$28,085	$27,073	$336,668 Watcr&SC'Ner		$2,525		$2,982		$3,057		$3,707		$3,283		$3,600                  52,749                   $2,724                   $2,900                   $5,285                   $2,839                   $2,414                   $38,066   Gas                                                                              $332                      Sl,912                      Sl,825                    $3,739                    $4,273                   S3,911                    $2,466                    $2,533                    Sl,111                       $456                       $627                       $300                 $23,484
Pool & Fountain Maintenaoce	$6,898	S9,238	Sll,557	$8,147	$8,563	$9,296	S9,154	S9,314	S9,262	S8,179	$8,986	$7,082	S!OS,675
Environme:Dtal			sns	$146	$146	$146	$806	$146	$784	Sl46	Sl46	$146	S784	$146		$4,322 Property Insurance	523,253		$0		so		so		so		so		$0		so		so		so		$0		so	$23,253 Irrigation		$1,927	$477	$279	$510	$495	$415                    $4,502                        S518                        S522                        $542                            so                 so            SI0,187
Landscape Contract	SJ0,285	$60,018	S38,917	S30,347	$30,347	$30,347	$30,347	$30,347	$29,959	$29,959	$30,347	$39,035	$410 , 254
Landscape Contingency	S24,789	$1,331	$322	S661	$3,498	$5,749	$252	$3,689	$6,198	S22	Sl,344	$532	$48,387
L.andsatpe Consulting	Sl,820	$4,225	S3,791	$ 1, 820	Sl,820	Sl,820	$1,820	$1,820	$1,820	Sl,820	$1,820	$1,820	$26,216
Gatehouse and Gatehouse Expenses	S856	$1,750	$772		$292	$707		$463		$414	$316	$968	$1,248	$3,422	$2,220	Sl3,427 Roadways/Sidewalks	$588	$2,145		so	Sl,344	S210	$2,327	$3,004		so	$878	$2,145		so		so	$12,641 Lighting		so		so		so			so		so		$428                       so                 so            Sl,054                       so              S319                       $0                        Sl,801 MSA Building Repairs                                $2,173                          $113                             so              $456                       $227                           so            S5 , 328                         S404                       SS9                     S978                    Sl,681                            so              SI  1,419 Pressure Wm:hing                                   S3,248                             so                 $0                        S336                          so             $168                           so                so                so              S560                        so                 so              $4,312 Maintc:rumce (lnspectioos)                                      so                  $0                            $36                             so             $249                      $260                           so              $168                       S599                       S424                Sl,892                           $0                       $3,628 Rq,a:irs & Maintenance                                         $0                              so                 so               $0                            $0                           so                                 so                so               so                so             $499                          $499 Pest Control                                                   so                 $0                              $0                           so                so               so               so                $0                            $0                            so                $0                            so                  $0 Signage                                                                               Sl,156                           $540                          $907                        $616                        $353                        S384                        $273                             $0                        $826                            so                $104                        $476                      $5,635
Security	$6,533	$6,533	$6,533	$6,533	$6,533	$6,533	$6,533	$6,533	$6,533	$6,533	$6,533	S6,533	S78,400
Community Center
l.andsaipe	S991	$1,743	$1,130	$881	$881	$881	$881	$881	S881	$881	$881	$1,133	$12,047
Telephone		SI 13		$113			$96		Sill	Sill		Sill		Sill		$113		$113		SIB		$121		SI 18		Sl,353 Elatric	$2,491	S2,232	$1,564	$1,123	$846	$1,383	Sl,472	$1,863	$2,543	$2,616	$2,316	$2,662	$23,111 W81er& Sewer		Sl58		$283		Sl65		$165	$157		S165                       $157                       $165                       $165                        $165                        $157                        $157                        $2,056 Gas                                                                                           S25                          $25                             S2S                      $24                          $24                          $24                          $24                          S23                          $24                          $24                          $29                          S24                    $292
Contract Cleaning	$825	S7SO	$700	$875	$700	$700	$825	S750	$700	$82S	$750	$700	$9,100
Maintenance (Inspa:tions)	$0	so	$1,183	so	so	S65	$0	$300	so	$295	so	so	Sl,843
Malntenance-Olrect
Irrigation System Operations	so	so	so	so	so	so	so	50	so	so	so		so		so Contingency	so	so	so	so	so	$0	so	so	so	so	so	Sl,307	Sl,307 Tnmsrer Out	so	so	so	so         $412,280	so	so $0 so so so so $412,280
1144 . 1 44	$130,920	$107,300	$95,445	$509,446	$102,674	$ 10 4,639	$96,339	$101,914	$97,769	$98,674	$99,864	$1,689,1281

Total Expenditures

Excess Revenues (Expendilures}

s1,85113s2 I

$174,647	$139,014	$116,199	$106,781	$518,773	$118,364	$112 ,463	$105,133	$110,822	$123,548	$113,145	$112,463		

17 136	
$10 ,229	
$462,741	
$393 886		
51 336	
$187642	
$158,230	
$15 649	
122138	
$113,047	
$104 638	
$200 477	

12

REUNION EAST
COMMUNITY  DEVELOPMENT DISTRICT

SPEOAL ASSESSMENT RECEIPTS• FY2019

11/9/18
11/26/18
12/10/18
12/21/18
1/11/19
1/11/19
1/11/19
2/13/19
2/13/19
3/11/19
4/9/19
4/9/19
4/12/19
5/15/19
5/15/19
6/14/19
6/14/19
6/18/19
7/15/19
10/31/19

ACH ACH ACH ACH ACH ACH ACH ACH ACH ACH ACH ACH ACH ACH ACH ACH ACH ACH ACH ACH

$	36,568.51    $
$	491,514.77   $
$       1,834,885.23    $
$	238,146.51    $
$	115,954.48     $
$	18,825.90    $
$	$
$	3,037.48    $
$	165,036.39     $
$	232,621.05    $
$	231,698.52    $
$	17,481.20    $
$	$
$	121,599.90    $
$	1,481.30    $
$	45,498.34    $
$
$
$
$

1,889.31   $
19,660.91   $
73,396.33   $
8,875.14   $
3,500.71   $
489.06    $
$
61.49    $
3,565.70    $
2,458.91    $
60.75    $
$
$
$
$
$
$
$
$
$

693.SB   $
9,437.08   $
35,229.78   $
4,585.42   $
2,249.07    $
366.75    $
$
59.53 $ 3,229.40 $ 4,603.25 $ 4,632.78   $
349.59   $
$
2,432.00    $
29.63   $
909.97   $
11.25   $

$      33,985.62     $      10,083.19     $       23,657.83  $
$    462,416.78    $   137,194.35    $    321,894.36  $
$ 1,726,259.12    $   512,163.51    $ 1,201,671.50  $

$    224,685.95   $
$    110,204.70    $
$      17,970.09    $
326.67    $	326.67    $

66,662.03    $   156,406.82   $
32,696.61    $     76,714.93   $

244.60     $     33,985.62
3,328.07     $    462,416.78
12,424.11     $ 1,726,259.12
1,617.09     $    224,685.95
793.16     $   110,204.70

5,331.54    $
96.92   $
865.28   $

12,509.21 $

227.40 $

129.33   $
2.35   $

17,970.09
326.67

$	2,916.46 $

2,030.19 s

20.99 $

s  225,558.89    $
$    227,004.99    $
$     17,131.61   $
309.80   $	309.80   $

s 158,241.29 $

46,948.58    $    110,153.83   $
66,921.03     $    157,014,49   $
67,350.07    $    158,021.14   $

1,138.88     s  158,241.29
1,623.38     $   225,558.89
1,633.78    $  227,004.99

2,916.46

5,082.77   $
91.91   $

11,925.54    $
215.66 $ 82,954.33 $ 1,010.53 $ 31,038.SS   $
383.78   $

123.30    $    17,131.61
2.23   $	309.80

$ 119,167.90 $ 35,355.90 $

857.67 $ 119,167.90

$	1,451.67    $	430.70 $

$ 44,588.37 $ 13,228.92 $

379,064.90    s
$ 25,673.69   $

562.57 $

$	S51.32   s	163.57 $

10.45   $	1,451.67
320,91    $      44,588.37
3.97    $	551.32

7,581.29 $

s
$

$ 371,483.61 $ 110,215.41 $ 258,594.59 $

324.12    $
437.91   $
$

324.12 $ 26,111.60 $
$

96,16   $	225.62 $

7,747.05 $ 18,176.63 $

$

s

Tot.ab

3,95"550.74 $

113,958.31 $ 76,400.37

2,673.61    $  371,483.61
2.33    $	324.12
187.93    $     26,111.60
$
1,398.50   $ 3,770,690.56    S 1,118 725.Sl   $ 2,624,826.91   $     27,138.14    5 3,770,690.56

TAX COLLECTOR

	Gross Assessments	$ 3,921,565	1,163,488	$ Z,729,852	$	28,224		
	Net Assessments	$ 3,686,271	1,093,679	$ 2,566,061	$	26,531		
				2015A	2015-1		
Data		Gross AssessmenU	Discounts/	Commissions	Interest	Net Amount	General Fund	Debt Svc Fund	Otbt Svc Fund	Total	
Received	Dist.	Received	PenatUas	Paid	Income	Received	29.67'1	69.61"	0.72"	100%	

13

DATE
RECEIVED	DUE
DATE	otEO<
NO.	NET
ASSESSED	AMOUNT
RECEIVED	GENERAL
FUND	SERIES
2015·1	SERIES
2015-2	SERIES
2015-3	
2/21/19	11/1/18	30939	s  12,986.00
s	6,494.00
$	6,494.00	s   12,987.00
s	6,494.00
$	6,494.00	s	5,491.00
s	2,745.71
$	2,745.71	s	2,818.00
s	1,4 09.11
$	1,409.00	s	3,227.50
$	1,613.87
s	1,614.00	s	1,450.50
$	725,31
$	725.00	
2/21/19	2/1/19	30939							
5/30/19	5/1/19	31220							
			$ 2S,974.DD	$ 25,975.00	$ 10,982.42	$	5,636.11	$	6,455.37	$	2 900.81	

OFF ROU. ASSESSMENTS

Cidcommuntti,s	$25,974.00		$10,982.00	$5,636.00	$6,455.00	$2,901.00	
		100%	4228%	21 71m	2485%	1117%	

							

£HOF Acqul,ltlom II, U.C	
$417,271,00		
$60,979.00	
$133,942.00	
$153,398.00	
$68,952.00	
		100%	1461%	32 ltm	3676%	1652%	
DATE RECEIVED	DUE
DATE	otECK
NO.	NET ASSESSED	AMOUNT
RECEIVED	GENERAL
FUND	SERIES
2015-1	SERIES 2015-2	SERIES
2015·3	
1/2/19	11/1/18	WIRE	$ 208,635.00	$ 208,635.00	$ 30,489.43	$ 66,970.84	$ 76,698.82	$ 34,475.92	
4/25/19
5/2/19	2/1/19
5/1/19	WIRE WIRE	$  104,318.00
$  104,318.00	$   104,318.00
s  104,318.00	$    15,244.79
$     15,244.79	$     33,485.58
$     33,485.58	$     38,349.59
$     38,349.59	$    17,238.04
$     17,238.04	
			$ 417271.00	$ 417,271.00	$ 60,979.00	$ 133,942.00	$ 153,398.00	s 68.952.00	

EHOF Acqulsl1Jon, II, U.C	
$511,249 .00		
$358,021.00	
$57,603.00	
$65,971.00	
$29,654.00	
		100%	7003%	1127%	1290%	580%	
DATE RECEIVED	DUE
DATE	otEO< NO.	NET ASSESSED	AMOUNT
RECEIVED	GENERAL
FUND	SERIES
2015-1	SERIES 2015-2	SERIES 2015·3	
1/2/19
4/25/19
5/2/19	11/1/18
2/1/19
5/1/19	WIRE
WIRE WIRE	s 255,625.00
$    127,812.00
s 127 ,81 2.00	$     255,625.00
$   127,812.00
s  127,812.00	s  179,010.85
s   89,505.07
$      89,505.07	$      28,801.56
$    14,400.72
$     14,400.72	s   32,985.56
s   16,492.72
$     16,492.72	s   14 ,827.03
$	7,413.49
$	7,413.49	
			$ 51120,00	$ 511,249.00	$ 358,021.00	$ 57,603.00	$ 65,971.00	$ 29,654.00	

£HOF Acqul,ltlons II, U.C	
$1,698,712.00		
$490,847.00	
$454,076.00	
$520,036.00	
$233,753.00	
		100%	2890%	2673%	3061%	1376%	
DATE RECEIVED	DUE DATE	otEO<
NO.	NET ASSESSED	AMOUNT
RECEIVED	GENERAL FUND	SERIES 2015-1	SERIES
2015-2	SERIES
2015·3	
1/2/ 19
4/25/19
S/l/ 19	11/1/18
2/1/19
5/1/19	WIRE
WIRE
WIRE	$   8 • 9,356.00
$  424,678.00
$  424,678.00	$   849,3S6.00
$    424,678.00
s   4 24,678.00	$    245,423.50
$   122,711.75
$  122,712.00	$   227,038.00
s 113,519 .00
$   113,519.00	$   260,0JS DO
$   130,009.00
s 130, 009.00	$   116,876.50
$    58,438.25
$    58,438.00	
			S ] .,698 , 711.00	I 1,698,712.00	$ 490,847.25	$ 45-1,076.00	s  Sl0   036-  .DO	$ 2n,1s2.1s	

I.RA Orlando LLC	$6,901.00	$1,848.00	$5,053.00

OAT£
RECEIVED	DUE
DATE	otECK
NO.	NET ASSESSED	AMOUNT
RECEIVED	GENERAL
FUND	SERIES
2015·1	
11/16/18
11/16/18
11/16/18	11/1/18
2/1/19
5/1/19	2814
2814
2814	$	3,451.00
$	1,725.00
$	1,725.00	$	3,451.00
$	1,725.00
$	1,725.00	$	924.00
$	462.00
$	462.00	$	2,527.00
$	1,263.00
$	1,263.00	
			$	6,901.00	$	6,901.00	$	1,848.00	$	5,053.00	

SUMMARY	

GENERAL FUND	
DEBT SERVICE SERIES 2015-1	
DEBT SERVICE SERIES 2015-2	
DEBT SERVICE SERIES 2015·3	
TOTAL DIRECT Bill.ED TOTAL RECEIVED	$9 22,677.00
$    922,677.67	$656,310.00
$     656,310,11	$745,860.00
$    745,860.37	$335,260.00
$    335,259.56	
VARIANCE	$	0.67	$	0.11	$	0,37	$	(0,44	

14

S EC·TION 4

Reunion East/West COD Direct BIiied Assessments for FY 2019

landowilder	Product	TotalO&M	Total'Debt	Total Dile		O&M	D,  ebt	Total	Paid

$12,987 paid 2/25/19 56,494  Paid 2/25/19
$6,494  Paid 5/30/19

$2, 5 974

Total	Poid
S3,451
$1,725
$1,725 
! 6,901,

Total	Paid		

aucommunlijes					
Nov	
$5,491	
$7,496			
3S-25-27-4885·PRO.-OC30					Feb	$2,746	$3,748			

Estoppel		$10,982	$14,992	$25,974	May	$2,746	$3,748			
Totals		$10,982	S14 2	$25,974	Total	$10 ,982	$14,992			

LRAORlANOOLLC
35-25-27-4885-PRCL-OOO	

4MF	
$1,848	
$5,053	
$6,901	
Nov
Feb
May
Total	O&M
$924 5462
 	$462	
 	g.848	Debt
$2,527
$1,263
...    !, 263	
5,05 3		

11/5/18
11/5/18
11/5/18	
EHOF						O&M	Debt			
ll-1-15 Interest										
27· 25 -27-2!18;5 TRAC-f0 20 30 Comm/755 MF	$358,021	$153,228	$511,249	Nov	$454,923	$858,693	$1,313,616 Paid 1/2/19		
35-25-27-4895-PRO.·OlCO	242.29 Comm/701 MF/300 Hotel	$490,846	$1,207,865	$1,698,711	Feb	$227,462	$429,346	$656,808 Paid 4/25/19		
27-2S-27•2!185-TIIAC..f030 10 Comm/56 MF/104 Hotel	 	$60 j979		$35,6 292		$4n ,zn 	May	$227 ,462 	 	$429J 46		$656,808 Paid 5/2/19		
	$909,646	s1,111,3ss	$2,627,231	Total	 	$909.846 	$ 1, 717,385	$2,627 , 291		

Dbtrict
Reunion East

.

Dist rict
Reunion West	
Lanclownder
Reunion West SPE	
TotalO&M	
Total Debt	
Total		
O&M	
Debt		
Total	Pald	
	27•25-27-4927-000l•WClO	$7,276		$7,276	Dec	$29.883		$0	$29,883 Paid 1/30/2019	
	27-25•27-4927-0001SF10	$37,864		$37,864	March	$29,883		$0	$29,883 Paid 3/28/19	
	27•25•27-4927-0001·SF20	$41..725		$41,725	June	$29,883		$0	$29,883 Paid 6/26/19	
27•25-27-4935-0001-0XXO	 	$32,667.00	2,66 7 . September	$29,883		$ 291883 Paid 9/23/19	
	$119J 32.0.0	$0.00     $119,532.00	Total	$119 32	$0	$119J 32	
Reunion We5t HOA	$202,932	$0	$202,932	Dec	$50,733.00	$0.00	$S0,733.00 Paid 1/30/2019	
22-25-27-4923--0001-0090				MaM	$50,733.00	$0.00	$50,733.00 Paid 3/28/19	
				J•ne	$50,733.00	$0.00	$50,733.00 Paid 6/26/19	
				5eplember
Total	$50.733.00
     $20Z,93LJJ0		$0.00	
so:oo		$.501733 .00 Paid 9/23/19
$2 932.oei	

S ECT-

ION 5

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT
$30,710,000
SPECIAL ASSESSMENT REFUNDING BONDS SERIES 2015A
ARBITRAGE REBATE REQUIREMENT JUNE 30, 2019

Grau & Associates
CERTIFIED PUBLIC ACCOUNTANTS

951 Yamato Road • Suite 280 Boca Raton, Florida  33431 (561) 994-9299 • (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

October 31, 2019

Reunion East Community Development District Osceola County, Florida

Re: $30,710,000 Reunion East Community Development District (Osceola County, Florida)
Special Assessment Refunding Bonds, Series 2015A (the "Bonds")

Reunion East Community Development District has requested that we prepare certain computations related to the above-described Bonds for the year ended June 30, 2019 ("Computation Period"). The engagement consisted of the preparation of computations to be used to assist in the determination of the amount, if any, of the Rebate Requirement for the Bonds for the Computation Period as described in Section 148(f) of the Internal Revenue Code of 1986, as amended ("Code"). You have the ultimate responsibility for your compliance with arbitrage rebate laws; therefore, you should review the calculations carefully.

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

The results of our computations based on the information provided to us indicate a negative Rebate Requirement of ($37,104) for June 30, 2019. Consequently, our results indicate no amount must be on deposit in the Rebate Fund.

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

Grau & Associates

DESCRIPTION OF ATTACHED SCHEDULES

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

Purpose Expenditures Future Value Report - Verifies the rebate calculation. The report future values the purpose expenditures by the arbitrage yield limit to the computation date (June 30, 2019).

Arbitrage Yield limit (AYL} Verification Report - Verifies the calculation of the arbitrage  yield limit and the arbitrage  gross  proceeds.   Discounts  the  debt service schedule by the arbitrage yield limit.

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

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

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

Reunion East COD
Special Assessment Refunding Bonds, Series 20 I SA Summary of Rebate Calculations
$ 30,710,000.00

Dated: Delivered:

07/29/2015
07/29/2015

Anniversary Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	11/01/2015	
Future-Value Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	06/30/2019	
Arbitrage Yield Limit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	4.8687185	
Total of Purpose Expenditures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$30,698,825.00	
Internal Rate of Retur•n . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	0.6077762	
90% of rebate liabili!J . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	-$33,393.89	
Full rebate liability. . . . •. . . . . . . . . . . . . . , •. . . . . . . . . . , . . . . . . . . . . . . . . . . . .	-$37,104.32	

REUNIE15A-2015-A I FY: 11Mun-EaseElevateMainDb I 16.95f EDB I 11/01/2019 I 14:11 I Rpt22
Grau & Associates
Grau & Associates CPAs

Page	1

Purpose Expenditures Future Value Report	F11ture Va!uedTo:	06/30/2019
$30,710,000.00

Transaction Date	Group ID	Fund ID	
Demiption	Future Value Periods	Calm/ation Amt (Int. Earnings)	
Pool%	FV
Fa.tor	FV
Amount	
7/29/2015	-1	cor	Beg. Arbitrage Gross Proceeds	7.8388889	-30,869,012 .60	100.0000000	1.2074866	-37,273,919.95	
7/29/2015	2016		COi	7.8388889	131,050.00	100.0000000	1.2074866	158,241.12	
7/29/2015	2016		Payment to escrow agent	7.8388889	31,633,198.00	100.0000000	1.2074866	38,196,663.60	
7/29/2015	2016		Transferred funds	7.8388889	-2,074,000.00	I00.0000000	1.2074866	-2,504,327.27	
7/29/2015	2016		Underwriter's discount	7.8388889	614,200.00	100.0000000	1.2074866	741,638.29	
7/30/2015	2016		COi	7.8333333	6,000.00	I00.0000000	1.2073253	7,243.95	
9/2/2015	2016		Reserve	7.6555556	1.00	100.0000000	1.2021739	1.20	
10/2/2015	2016		Reserve	7.4888889	1.00	100.0000000	1.1973644	1.20	
11/2/2015	2016		Interest	7.3222222	376,842.00	100.0000000	1.1925742	449,412.05	
11/3/2015	2016		Reserve	7.3166667	1.00	100.0000000	1.1924149	1.19	
12/2/2015	2016		Reserve	7.1555556	1.00	100.0000000	1.1878031	1.19	
1/5/2016	2016		Reserve	6.9722222	1.00	100.0000000	1.1825770	1.18	
1/29/2016	2016		COi	6.8388889	6,722.00	100.0000000	1.1787906	7,923.83	
2/2/2016	2016		Reserve	6.8222222	1.00	100.0000000	1.1783182	1.18	
3/2/2016	2016		Reserve	6.655S556	1.00	100.0000000	1.1736042	1.17	
4/2/2016	2016		Reserve	6.4888889	1.00	100.0000000	1.1689090	1.17	
5/3/2016	2016		Reserve	6.3166667	1.00	100.0000000	1.1640770	1.16	
6/2/2016	2016		Reserve	6.1555556	1.00	100.0000000	1.1595749	1.16	
7/1/2016	2017		Reserve	5.9944444	1.00	100.0000000	l.1550902	1.16	
8/1/2016	2017		Reserve	5.8277778	1.00	I 00.0000000	1.1504691	1.15	
9/1/2016	2017		Reserve	5.66lllll	1.00	100.0000000	1.1458665	I.IS	
10/1/2016	2017		Reserve	5.4944444	1.00	100.0000000	1.1412823	1.14	
11/1/2016	2017		Reserve	5.3277778	1.00	100.0000000	1.1367164	1.14	
12/1/2016	2017		Reserve	5.1611111	1.00	100.0000000	1.1321688	1.13	
1/1/2017	2017		Reserve	4.9944444	12.00	100.0000000	1.1276394	13.53	
2/1/2017	2017		Reserve	4.8277778	26.00	I 00.0000000	1.1231281	29.20	
3/1/2017	2017		Reserve	4.6611111	25.00	100.0000000	1.1186349	27.97	
4/1/2017	2017		Reserve	4.4944444	38.00	100.0000000	1.1141596	42.34	
5/1/2017	2017		Reserve	4.3277778	52.00	100.0000000	1.1097023	57.70	
6/1/2017	2017		Reserve	4.1611111	56.00	100.0000000	1.1052627	61.89	
7/5/2017	2018		Reserve	3.9722222	71.00	100.0000000	1.1002528	78.12	
8/2/2017	2018		Reserve	3.8222222	87.00	100.0000000	1.0962904	9S.38	
9/5/2017	2018		Reserve	3.6388889	90.00	100.0000000	1.0914669	98.23	
10/3/2017	2018		Reserve	3.4833333	88.00	100.0000000	1.0873909	95.69	
11/2/2017	2018		Reserve	3.3222222	93.00	I 00.0000000	1.0831854	100.74	
12/4/2017	2018		Reserve	3.1444444	95.00	I 00.0000000	1.0785637	102.46	
1/3/2018	2018		Reserve	2.9833333	118.00	100.0000000	1.0743923	126.78	
2/2/2018	2018		Reserve	2.8222222	136.00	100.0000000	1.0702370	145.55	
3/2/2018	2018		Reserve	2.6555556	127.00	100.0000000	1.0659554	135.38	
4/3/2018	2018		Reserve	2.4833333	163.00	100.0000000	1.0615490	173.03	
5/2/2018	2018		Reserve	2.3222 222	182.00	10 0.0000000	l.0574434	192.45	
6/4/2018	2018		Reserve	2.1444444	194.00	100.0000000	1.0529315	204.27	
7/3/2018	2019		Reserve	1.9833333	203.00	100.0000000	1.0488593	212.92	
8/2/2018	2019		Reserve	1.8222222	223.00	100.0000000	1.0448027	232.99	
9/5/2018	2019		Reserve	1.6388889	225.00	I 00.0000000	1.0402058	234.05	

REUNIE15A-2015-A I FY: 1 I Mun-EaseElevateMainDb I 16.95f EDB I 11/01/2019 I 14:11 I Rpt15a
Grau & Associates
Grau & Associates CP/\s

Paoe	1

Purpose Expenditures Future Value Report
S 30,7 I 0,000.00

FHIHre V a/11ed To:

06/30/2019

	Transaction Date	Group
ID	Fund
ID	
Description	Futllrl/ Value Periods	C,o/e11/ation Amt (Int. Earnings)	
Pool%	FV
Factor	FV
Amo1111t	
	10/2/2018	2019		Reserve	1.4888889	226.00	100.0000000	1.0364597	234.24	
	11/2/2018	2019		Reserve	1.3222222	262.00	100.0000000	1.0323132	270.47	
	12/4/2018	2019		Reserve	l.1444444	260.00	100.0000000	1.0279085	267.26	
	1/3/2019	2019		Reserve	0.9833333	281.00	I 00 .0000000	1.0239330	287.73	
	2/4/2019	2019		Reserve	0.8111111	301.00	100.0000000	1.0197004	306.93	
	3/4/2019	2019		Reserve	0.6444444	270.00	100.0000000	1.0156209	274.22	
	4/2/2019	2019		Reserve	0.4888889	301.00	I00.0000000	I.OJ 18282	304.56	
	5/2/2019	2019		Reserve	0.3222222	293.00	I 00.0000000	1.0077802	295.28	
	6/4/2019	2019		Reserve	0.1444444	299.00	100.0000000	J.0034802	300.04	
	6/30/2019	-1		Unspent Proceeds as of06/30/2019	0.0000000	175,000.00	100.0000000	1.0000000	175,000.00	
						4,812.40			-37,104.32	

	Arbitrage Yield Limit (AYL) . . . . . . . . . . . . . . .	4.8687185		
	Internal RaJe of Return (IRR) ..............	0.6077762		
	Future Valued To.. . . . . . .. . . . . . . . . . . . . . . . .	6/30/2019		

REUNIE15A-2015-A J FY : 1 I Mun-EaseElevateMainDb J 16.95f EOB I 11/01/2019 I 14:11 I Rpt15a
Grau & Associates
Grau & Associates CPAs

Page	2

A.Y. L. Verification Report	FMSBoruis, Inc.
MSRB 30I 360 SEMI 4 I3
30,710 ,000.00

Period	Coupon Date	Principal Pqyment	Coupon
Rate	Interest P2!71enl	Cred. Enh./ Sinking Fund A4f	Periodic Debt Service	Present V ahle Factor	Dis«nmted Debt S1117Jice	
1	ll/01/2015			376,842.22		376,842 .22	0.9877820	372,237.96	
2	05/01/2016	1,120,000.00	4.000	737,300.00		1,857,300 .00	0.9643073	1.79, 1 007.95	
3	I 1/01/2016			714,900.00		714,900.00	0.9413905	673,000.05	
4	05/01/2017	1,170,000.00	4.000	714,900 .00		1,884,900.00	0.9190183	1,732,257.53	
5	11/01/2017			691,500.00		691, 500.00	0.8971 777	620,398.41	
6	05/01/2018	1,215,000.00	4.000	691,500.00		1,906,500.00	0.8758563	1,669,819.94	
7	11/01/2018			667,200.00		667,200 .00	0.8550415	570,483.67	
8	05/01/2019	1,265,000.00	4.000	667,200.00		1,932,200.00	0.8347214	1,612,848.60	
9	11/01/2019			641,900.00		641,900 .00	0.8148 841	523,074.13	
10	05/01/2020	1,320,000.00	4.000	641,900.00		1,961,900.00	0.7955184	1,56 0,727.49	
II	11/01/2020			615,500.00		615,500 .00	0.7766128	478,005.19	
12	05/01/2021	1,380,000.00	5.000	615,500.00		1,995,500 .00	0.7581566	1,512,901.44	
13	11/01/2021			581,000.00		581,000.00	0.7401389	430,020.72	
14	05/01/2022	1,450 ,000 .00	5.000	581,00 0.00		2,031,000.00	0.7225495	1,467,497.99	
15	11/01/2022			544,750.00		544,750.00	0,7053780	384,254.69	
16	05/01/2023	1,525,000.00	5.000	544,750.00		2,069,750,00	0.6886147	I,425 ,260.25	
17	11/01/2023			506,625.00		506,625.00	0.6722497	340,578.51	
18	05/01/2024	1,600,000.00	5.000	506,625.00		2,106,625.00	0.6562737	I ,382,522 .49	
19	11/01/2024			466,625.00		466,625.00	0.6406773	298,956.03	
20	05/01/2025	1,685,000.00	5.000	466,625.00		2,151, 625.0 0	0.6254515	1,345,737.16	
21	11/01/2025			424,500.00		424,500.00	0.6105876	259,194.45	
22	05/01/2026	1,770,000.00	5.000	424,500.00		2, I 94,500 .00	0.5960770	1,308,090.94	
23	ll/01/2026			380,250.00		380,250.00	0.5819112	221,271.72	
24	05/01/2027	1,860,000 .00	5.000	380,250 .00		2,240,250 .00	0.5680820	1,272,645.74	
25	11/01/2027			333,750.00		333,750.00	0.5545815	185,091.58	
26	05/01/2028	1,955,000 .00	5.000	333,750.00		2,288,750.00	0.5414018	1,239,133.47	
27	11/01/2028			284,875.00		284,875.00	0.5285354	150,566.52	
28	05/01/2029	2,055,000.00	5.000	284,875.00		2,339,875.00	0.5159747	1,207,316 .34	
29	11/01 /20 29			233,500.00		233,500 .00	0.5037125	117,616 .88	
30	05/01/2030	2,160,000 .00	5.000	233,500.00		2,393,500.00	0.4917418	I, 176,983.95	
31	11/01/2030			179,500.00		179,500.00	0.4800555	86,169 .96	
32	D5/01/2031	2,275,000.00	5.000	179,500.00		2,454,500.00	0.4686470	1,150,293.95	
33	11/01/2031			122,625.00		122,625.00	0.4575095	56,102.11	
34	05/01/2032	2,390,000.00	5.000	122,625.00		2,512,625.00	0.4466368	1,122,230.75	
35	11/01/2032			62,875.00		62,875.00	0.4360224	27,414.91	
36	05/01/2033	2,515,000 .00	5.000	62,875.00		2,577,875.00	0.4256603	1,097,299.13	

REUNIE15A-2015-A I FY: 1 I Mun•EaseElevateMainDb I 16.95f EDB I 11/01/2019 I 14:13 I Rpto1h
Grau & Associates	
Grau & Associates CPAs	Page	1

Reunion East CDD
Special Assessment Refunding Bonds, Series 20 I SA
A.Y.L. Verification Report

Dated: Delivered: FMSBonds, Inc.

07/29/2015
07/29/2015

30,7 I 0,000.00

MSRB 30/360SEMI4/J

Coupon	Principal	Coupon	lntmst	Cred. Enh./	Penodic	Present Value	Discounted	
Pmod	Date	Pt:[Jment	Rate	Pqyment	Sinking Fund Ar§	Debt Service	Factor	Debt Service	
30,710,000.00	16,017,892.22	0.00	46,727,892.22	30,869,012.60

True Interest Cost (TIC). . .	5.1278763		Face value of bond Issue	•.	$30,710,000.00	
Net Interest Cost (NJC). . . . . . . . . . . .	5.0872182		Accrued interes/ (+) . . . . . . . . . . . . .		
Arbitrage Yield Limit (AYL) ........	4.8687185		Original issue premium/discount (+). . . . . .	$159,012.60	
Arbitrage Net Interest Cost (ANIC).	4.8927040		Bond surety fee (-). . . . . . . . . . . . . . . . . . . . .	$0.00	
			Lump-sum credit enhancements (-). . . . . . . .	$0.00	
			Other AYL costs (-) . . . . . .
= AYL 7iirget.	
$30,869,012.60	

REUNIE15A-2015-A I FY: 1 J Mun-EaseElevateMainDb J 16.95f EDB J 11/01/2019 J 1 4:13 I Rpl01h
Grau & Associates
Grau & Associates CPAs	Page	2

Reunion East COD	I
MSRB 30/ 'J60 SEMI / J
Special Assessment Refunding Bonds, Series 20 I SA	FMSB011di; Im·.
T.1.C. Verification Reoort (Regular)	Daled·	7/29/2015
30,7 I 0,000.00	De!ittnd:	7/29/2015

Period	Coupon Date	Prina'pal Pqyment	CJupon
Rate	Interest
Pqyment	Credit
Enhancements	Periodic
Debt Service	Preitnt Value Factor	Discounted Debt Service	
I	11/1/2015			376,842.22		376.842 .22	0.9871440	371,997.52	
2	5/1/2016	1,120,000.00	4.000	737,300.00		1,857,300.00	0.9624669	I,787,589.78	
3	11/1/2016			714,900.00		714,900.00	0.9384067	670,866.98	
4	5/1/2017	1,170,000.00	4.000	714,900.00		1,884,900.00	0.9149480	1,724,585.55	
5	11/1/2017			691,500.00		691,500.00	0.8920758	616,870.39	
6	5/1/2018	1,215,000.00	4.000	691,500.00		1,906,500.00	0.8697753	1,658,226.54	
7	11/1/2018			667,200.00		667,200.00	0.8480322	565,807.11	
8	5/1/2019	1,265,000.00	4.000	667,200.00		1,932,200 .00	0.8268328	1,597,606.26	
9	11/1/2019			641,900.00		641,900.00	0.8061632	517,476.18	
10	5/1/2020	1,320,000.00	4.000	641,900.00		1,961,900.00	0.7860104	1,542,073.83	
II	11/1/2020			615,500.00		615,500 .00	0.7663614	471,695.43	
12	5/1/2021	1,380,000.00	5.000	615,500.00		1,995,500.00	0.7472035	1,491,044.67	
13	11/1/2021			581,000.00		581,000.00	0.7285246	423,272.81	
14	5/1/2022	1,450 ,000.00	5.000	581,000.00		2,031,000.00	0.71031 26	1,442,644.98	
15	11/1/2022			544,750.00		544,750.00	0.6925559	377,269.85	
16	5/1/2023	1,525,000.00	5.000	544,750.00		2,069,750.00	0.6752431	1,397,584.45	
17	11/1/2023			506,625.00		506,625.00	0.6583631	333,543.21	
18	5/1/2024	1,600,000.00	5.000	506,625.00		2,106,625.00	0.641905 1	1,352,253.23	
19	11/1/2024			466,625.00		466,625.00	0.62S8584	292,041.19	
20	5/1/2025	1,685,000.00	5.000	466,625.00		2,151,625.00	0.6102129	1,312,949.43	
21	11/1/2025			424,500.00		424,500.00	0.5949586	252,559.92	
22	5/1/2026	I,770,000.00	5.000	424,500.00		2,194,500.00	0.5800855	1,272,997.72	
23	11/1/2026			380,250.00		380,250.00	0.5655843	215,063.43	
24	5/112027	1,860,000.00	5.000	380,250.00		2,240,250.00	0.5514456	1,235,375.97	
25	11/1/2027			333,750.00		333,750.00	0.5376603	179,444.13	
26	5/112028	1,955,000.00	5.000	333,750.00		2,288,750.00	0.5242196	1,199,807 .70	
27	11/112028			284,875.00		284,875.00	0.5111150	145,603.88	
28	5/1/2029	2,055,000.00	5.000	284,875.00		2,339,875.00	0.4983379	I, 166,048.38	
29	11/1/2029			233,500.00		233,500.00	0.4858802	113,453.03	
30	5/1/2030	2,160,000.00	5.000	233,500.00		2,393,500.00	0.4737340	1,133,882.28	
31	11/1/2030			179,500.00		179,500.00	0.4618914	82,909.50	
32	5/1/2031	2,275,000.00	5.000	179,500.00		2,454.500.00	0.4503448	1,105,371.33	
33	11/1/2031			122,625.00		122,625.00	0.4390869	53,843.03	
34	5/1/2032	2,390,000.00	5.000	122,625.00		2,S12,625.00	0.4281104	1,075,680.91	
35	11/1/2032			62,875.00		62,875.00	0.4174083	26,244.55	
36	51112033	2,515,000.00	5.000	62,875.00		2,577,875.00	0.4069738	1,049,127.48	

Grau & Associates
Grau & Associates CPAs

REUNIE15A-2015-A I FY: 1 I Mun-EaseElevateMainDb I16.95f EDB I 11/0112019I14:14 IRpto1a

P,1gc	1

Reunion East CDD
Special Assessment Refunding Bonds, Series 20I SA
T.I.C. Verification Reoort (Regular)
30,710,000.00

2
MSRB JOI }60 SEMI -I/ 3
FMS&nds, In.:
Da1td:	7/29/2015

D, /i,.n:d:	1/29/2015

Coupon
Period	Date

Principal
P"!J"lmf

Coupon
Rate

Interest
P'!)lment

Credit Enhancements

Penodic Debt S eroice

P111se11t Value Factor

Discounted Debt Service

30,710,000.00	16,017,892.22	0.00	46,727,892.22	30,254,812.60

True Interest Cost (f!C) .
Net Interest Cosr (NIC). . . . . . . . . . . . . . .
Arbi1rage Yield Limit (AYL) . . . . . . .
Arbitrage Net Interest Cosr (ANIC)

5.1278763
5.0872182
4.8687185
4.8927040

Face value of bond Issue.
Accrued interest (+) . . . . . . . . . . . . . . . . . . .

Underwriter discount (+) . . . . . . . . . . . . . . .	($614,200.00)	
lump-sum credit enhancements (·) . . . . . . . .	$0.00	
Other TIC costs (-) . . . . . . . . . . .		
Bond suretyJee (·) . . . . . . . . . . . .. . . . .. .	NIA	
= TIC Targel . . . . . . . .	$30,254,812.60	

Original issue premium/discount(+). . . . . .

$30,710,000.00

$159,012.60

REUNIE15A-2015-A I FY: 1 I Mun-EaseElevateMainDb I 16.95f EOB I 11/01/2019I14:14 I Rp\01a
Grau & Associates	Page	2
Grau & Associates CPAs

Reunion East CDD	Dated:	07/29/2015
Special Assessment Refunding Bonds, Series 2015A	Delivered:	07/29/2015
Unspent Proceeds Report
$ 30,7 10 ,0 00.00

Cak Date	G,p
ID	
Pu,p	Fund
ID	

Dmriplion	Gross Amo,mt	Pool
Pttrenldf,t	Nonpu,pose
Inveslmenl	Purpose Expendittms	Unspent Proce,ds	
07/29/2015	-1	N	COi	Beg. Arbitrage Gross Proceeds		100.0000000			30,869,012.60	
07/29/2015	2016	y		CO!	131,0SO.00	100.0000000		131,050.00	30,737,962.60	
07/29/201S	2016	y		Payment to escrow agent	31,633,198.00	I00.0000000		31,633,198.00	-89S,235.40	
07/29/201S	2016	y		Underwriter's discount	614,200.00	100.0000000		614,200.00	-1,509,435.40	
07/29/2015	2016	y		Transferred funds	-2,074,000.00	100,0000000		-2,074,000.00	564,564.60	
07/30/201S	2016	y		COi	6,000.00	100.0000000		6,000.00	558,564.60	

09/02/2015	
2016	y		
Reserve	
1.00	
I00.0000000		
1.00	
558,563.60	

10/02/2015	
2016	y		
Reserve	
1.00	
I00.0000000		
1.00	
558,562.60	

11/02/201S	
2016	y		
Interest	
376,842.00	
I00.0000000		
376,842.00	
181,720.60	
11/03/2015	2016	y		Reserve	1.00	100.0000000		1.00	181,719.60	

12/02/2015	
2016	y		
Reserve	
1.00	
100,0000000		
1.00	
181,71.860	

01/05/2016	
2016	y		
Reserve	
1.00	
100.0000000		
1.00	
181,717.60	

01/29/2016	
2016	y		
COi	
6,722.00	
100.0000000		
6,722.00	
174,995.60	

02/02/2016	
2016	y		
Reserve	
1.00	
100.0000000		
1.00	
174,994.60	

03 /02/2016	
2016	y		
Reserve	
1.00	
l00.0000000		
1.00	
174,993.60	

04/02/2016	
2016	y		Reserve	
1.00	
I00.0000000		
1.00	
174,992.60	

05 /03/2016	
2016	y		
Reserve	
1.00	
l 00.0000000		
1.00	
174,991.60	

06/02/2016	
2016	y		
Reserve	
1.00	
10 0.0000000		
1.00	
17 4,990.60	

07/01/2016	
2017	y		
Reserve	
1.00	
I 00.0000000		
1.00	
174,989.60	

08/01/2 016	
2017	y		
Reserve	
1.00	
100.0000000		
1.00	
174,988.60	

09/01/2016	
2017	y		
Reserve	
1.00	
100.0000000		
1.00	
1 74,987.60	

10/01/2016	
2017	y		
Reserve	
1.00	
100.0000000		
1.00	
174, 986.60	

11/01/2016	
2017	y		
Reserve	
1.00	
100.0000000		
1.00	
174,985.60	

12/01/2016	
2017	y		
Reserve	
1.00	
100.0000000		
1.00	
174,984.60	

01/01/2017	
2017	y		
Reserve	
12.00	
100.0000000		
12.00	
174,972.60	

02/01/2017	
2017	y		
Reserve	
26.00	
100.0000000		
26.00	
174,946.60	

03/01/2017	
2017	y		
Reserve	
25.00	
100.0000000		
25.00	
174,921.60	

REUNIE15A-2015-A I FY: 11 Mun-EaseElevateMainDb I 16.95f EDB I11/01/2019 I 14:11 I Rpt11
Grau & Associates 
Grau  & Associates CPAs	P c1ge	1

Reunion East CDD	Dated:	07/29/2015
Special Assessment Refunding Bonds, Series ::20 I SA	Delivered:	07/29/2015
Unspent Proceeds Report
$30,710,000.00

Cole Dole	G,p
ID	
P11,p	Fund
ID	
De.scriplio11	Gross Amo11nl	Pool Percentage	No11p11,pose Inue.s/mtnt	P11,pose ExpendiJures	Unspent Proceeds	

04/0)/2017	
2017	
y		
Rese,ve	
38 .00	
100.0000000		

38.00	
174,883.60	

05/01/2017	
2017	y		Reserve	
52.00	
100.0000000		
52.00	
174,831.60	

06/01/2017	
2017	y		Reserve	
56.00	
I 00.0000000		
56.00	
174,775.60	

07/0S/2017	
2018	y		
Reserve	
71.00	
I 00.0000000		
71.00	
174,704.60	

08/02/2017	
2018	y		
Reserve	
87.00	
I 00.0000000		
87.00	
174,617.60	

09/05/2017	
2018	y		
Reserve	
90.00	
100.0000000		
90.00	
174,527.60	

10/03/2017	
2018	y		Reserve	
88.00	
100.0000000		
88.00	
174,439.60	

11/02/2017	
2018	y		
Reserve	
93.00	
I00.0000000		
93.00	
174,346.60	

12/04/2017	
2018	y		ReseJVC	
95.00	
100.0000000		
95,00	
174,251.60	

01/03/2018	
2018	y		
Reserve	
118.00	
100.0000000		
118.00	
174,133.60	

02/02/2018	
2018	y		Reserve	
136.00	
100,0000000		
136.00	
173,997.60	

03/0212018	
2018	y		
Reserve	
127.00	
100.0000000		
127.00	
173,870.60	

04/0312018	
2018	y		Reserve	
16 3.00	
100.0000000		
163.00	
173,707.60	

05/02/2018	
2018	y		
Reserve	
18 2.00	
100.0000000		
18 2.00	
17 3,.525 .60	

06/04/2018	
2018	y		Reserve	
19 4.00	
I00.0000000		
194.00	
173,331.60	

07/03/2018	
2019	y		
Reserve	
203.00	
100.0000000		
203.00	
173,128.60	

08/02/2018	
2019	y		Reserve	
223.00	
100.0000000		
223.00	
172,905.60	

09/0512018	
2019	y		
Reserve	
225.00	
I 00.0000000		
225.00	
172,680.60	

10/02/2018	
2019	y		
Reserve	
226.00	
I 00.0000000		
226.00	
172,454.60	

JJ/02/2018	
2019	y		
Reserve	
26 2.00	
I00.0000000		
262.00	
172,192.60	

12/04/2018	
2019	y		Reserve	
260.00	
I 00.0000000		
260.00	
171,932.60	

01/03/2019	
2019	y		
Reserve	
281.00	
100.0000000		
281.00	
171,651.60	

02/04/2019	
2019	y		Reserve	
301.00	
I00.0000000		
301.00	
171,350.60	

03/04/2019	
2019	y		
Reserve	
270.00	
100.0000000		
270.00	
171,080.60	
REUNIE15A-2015-A I FY: 11 Mun-EaseElevateMainDb 116.951 EDB I 11/01/2019114:11 I Rpt11
Grau & Associates
Grau & Associates CPAs	Page	2

Special Assessment Refunding Bonds, Series ::w I SA Unspent Proceeds Report
$ 30,710,000.00

Delivered:

07/29/2015

	Cale Date	G,p
ID	
P11,p	F11nd
ID	
Desmption	Gross Amo11nt	Pool Pen:entage	Nonp11,pose Investment	Pn,pose Expmditnres	U11Spent
Procwis	
	
04/02/2019	
2019	
y		
Reserve	
301.00	
100.0000000		
301 .00	
170,779.60	
	
0S/02/2019	
2019	y		Reserve	
293.00	
l 00.0000000		
293.00	
170,486.60	
	
06/04/2019	
2019	y		
Reserve	
299.00	
100.0000000		
299.00	
170,187.60	
						30,698,825.00		0.00	30,698,825.00		

First In1'estment Da1e. . . . . . . . . . . . . . . . . . . . . . . . .	7/29/2015	
Calculfllion Date . . . . . . . . . . . . . . . . . . . . . . . . . . . .	6/30/2019	
Arbitrage Yield Limit (AYL). . . . .. . . . .. . . . . . . . . .	4.8687185	
Internal Rate of Retllrn (IRR). . . . . . . . . . . . . . . . . .	0.6077762	

REUNIE15A-2015-A I FY: 11 Mun-EaseElevateMalnDb I 16.95f EDBI 11/01/2019I14:11 I Rpt11

Grau & Associates
Gr-au & Associates CPAs

Pa ie	3

Special Assessment Refunding Bonds, Series 20 I SA	Delivered:	07/29/2015
I.R.R. Report Via Purpose Expenditures
$ 30,710,000.00

G,p
ID	Trans Date	F1111d
ID	

Demiptio11	DqyCount Factor	Calculation Amt
(Intemt Earning!)	Pool Pctg	** Internal PV Factor	Rate of Return **
PVAmt	
-1	07/29/2015		Beg. Arbitrage Gross Proceeds	0.0000000	(30,869,012.60)	100.000	1.0000000	(30,869,012.60)	
2016	07/29/2015		COi	0.0000000	131,050.00	100.000	1.0000000	131,050.00	
	07/29/2015		Payment to escrow agent	0.0000000	31,633,198.00	100.000	1.0000000	31,633,198.00	
	07/29/2015		Transferred funds	0.0000000	(2,074,000.00)	100.000	1.0000000	(2,074,000.00)	
	07/29/2015		Underwriter's discount	0.0000000	614,200.00	100.000	1.0000000	614,200.00	
	07/30/2015		COi	0.0055556	6,000.00	100.000	0.9999831	5,999.90	
	09/02/2015		Reserve	0.1833333	1.00	100.000	0.9994439	1.00	
	10/02/2015		Reserve	0.3500000	1.00	100.000	0.9989386	1.00	
	11/02/2015		Interest	0.5166667	376,842.00	l00.000	0.9984335	376,251.68	
	11/03/2015		Reserve	0.5222222	1.00	l00.000	0.9984167	1.00	
	12/02/2015		Reserve	0.6833333	1.00	100.000	0.9979287	1.00	
	OJ/05/2016		Reserve	0.8666667	1.00	100.000	0.9973738	1.00	
	01/29/2016		COi	1.0000000	6,722.00	100.000	0.9969703	6,701.63	
	02/02/2016		Reserve	1.0166667	1.00	100.000	0.9969199	1.00	
	03/02/2016		Reserve	1.1833333	1.00	l00.000	0.9964159	1.00	
	04/02/2016		Reserve	1.3500000	1.00	100.000	0.9959121	1.00	
	05/03/2016		Reserve	1.5222222	1.00	100.000	0.9953918	1.00	
	06/02/2016		Reserve	1.6833333	1.00	100.000	0.9949053	0.99	
2017	07/01/2016		Reserve	1.8444444	1.00	100.000	0.9944191	0.99	
	08/01/2016		Reserve	2.0111111	1.00	100.000	0.9939163	0.99	
	09/01/2016		Reserve	2.1777778	1.00	100.000	0.9934138	0.99	
	10/01/2016		Reserve	2.3444444	1.00	100.000	0.9929116	0.99	
	11/01/2016		Reserve	2.5111111	1.00	100.000	0.9924096	0.99	
	12/01/2016		Reserve	2.6777778	1.00	l00.000	0.9919078	0.99	
	01/01/2017		Reserve	2.8444444	12.00	100.000	0.9914063	11.90	
	02/01/2017		Reserve	3.0111111	26.00	100.000	0.9909051	25.76	
	03/01/2017		Reserve	3.1777778	25.00	100.000	0.9904041	24.76	
	04/01/2017		Reserve	3.3444444	38.00	100.000	0.9899034	37.62	
	05/01/2017		Reserve	3.511 lll I	52.00	100.000	0.9894029	51.45	
	06/01/2017		Reserve	3.6777778	56.00	100.000	0.9889027	55.38	
2018	07/05/2017		Reserve	3.8666667	71.00	100.000	0.9883360	70.17	
	08/02/2017		Reserve	4.0166667	87.00	100.000	0.9878863	85.95	
	09/05/20) 7		Reserve	4.2000000	90.00	100.000	0.9873369	88.86	
	10/03/2017		Reserve	4.3555556	88.00	100.000	0.9868710	86.84	
	11/02/2017		Reserve	4.5166667	93.00	100.000	0.9863887	91.73	
	12/04/2017		Reserve	4.6944444	95.00	100.000	0.9858567	93.66	
	01/03/2018		Reserve	4.8555556	118.00	100.000	0.9853749	116.27	
	02/02/2018		Reserve	5.0166667	136.00	100.000	0.9848933	133.95	
	03/02/2018		Reserve	5.1833333	127.00	l00.000	0.9843954	125.02	
	04/03/2018		Reserve	5.3555556	163.00	l00.000	0.9838811	160.37	
	05/02/2018		Reserve	5.5166667	182.00	100.000	0.9834002	178.98	
	06/04/2018		Reserve	5.6944444	194.00	100.000	0.9828699	190.68	
2019	07/03/2018		Reserve	5.8555556	203.00	100.000	0.9823896	199.43	
	08/02/2018		Reserve	6.0166667	223.00	l00.000	0.9819094	218.97	
	09/05/2018		Reserve	6.2000000	225.00	100.000	0.9813634	220.81	
	10/02/2018		Reserve	6.3500000	226.00	100.000	0.9809168	221.69	
	11/02/2018		Reserve	6.5166667	262.00	100.000	0.9804209	256.87	
	12/04/2018		Reserve	6.6944444	260.00	100.000	0.9798921	254.77	
	01/03/2019		Reserve	6.8555556	281.00	100.000	0.9794132	275.22	
	02/04/2019		Reserve	7.0277778	301.00	100.000	0.9789016	294.65	
	03/04/2019		Reserve	7.1944444	270.00	100.000	0.9784066	264.17	

REUNIE15A-2015-A I FY: 1 I Mun-EaseElevaleMainDb ( 16 .95f EDB I 11/01/2019 ( 14:11 I Rpt09c
Grau & Associates	Page	1
Grau & Associates CPAs

Reunion East CDD
Special Assessment Refunding Bonds, Series 20 I SA
I.R.R. Report Via Purpose Expenditures
$ 30,7 10 ,000 .00

Dated : Delivered:

07/29/2015
07/29/2015

G,p	Tra n,
ID	Date	Fund
ID	

Description	Dqy Count Factor	Cakulation Amt (Interest Earnings)	Pool Pct.g	** Internal Rate PV Factor	of&tum **
PV Amt		
2019 04/02/2019		Reserve	7.3500000	301.00	100.000	0.9779449	294.36		
05/02/2019		Reserve	7.5166667	293.00	100.000	0.9774505	286.39		
06/04/2019		Reserve	7.6944444	299.00	100.000	0.9769234	292.10		
99999 06/30/2019		Unspent Proceeds as of06/30/2019	7.8388889	175,000.00	100.000	0.9764953	170,886 .68		
				4,812.40			(0.01)		

Arbitrage Yield Limit . . . . . . . . . . . . . . . .
Internal Rate of Return . . . . . . . . . . . . . .
Calculation Standard . .• . . . . . . . •. •. . .

4.8687185
0.8077762
MSRB   30/360 SEMI 4/3

REUNIE15A-2015-A \ FY: 1 I Mun-EaseElevateMainDb I 16.95f EDS\ 11/01/2019 11 4:11I Rpto9c
Grau & Associates	Page	2
Grau & Associates CPAs

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT
$7,245,000
SPECIAL ASSESSMENT REFUNDING BONDS SERIES 2015-1
ARBITRAGE REBATE REQUIREMENT MAY 31, 2019

fJ

Grau & Associates
CERTIFlED   PUBLIC ACCOUNTANTS

951 Yamato Road • Suite 280 Boca Raton, Florida  33431 (561) 994-9299 • (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

October 31, 2019

Reunion East Community Development District Osceola County, Florida

Re:		$7,245,000 Reunion East Community Development District (Osceola County, Florida)
Special Assessment Refunding Bonds, Series 2015-1 (the "Bonds")

Reunion East Community Development District has requested that we  prepare certain computations related to the above-described Bonds for the year ended May 31, 2019 ("Computation Period"). The engagement consisted of the preparation of computations to be used to assist in the determination of the amount, if any, of the Rebate Requirement for the Bonds for the Computation Period as described in Section 148(f) of the Internal Revenue Code of 1986, as amended ("Code").  You have the ultimate responsibility for your compliance with arbitrage rebate laws; therefore, you should review the calculations carefully.

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

The results of our computations based on the information provided to us indicate a negative Rebate Requirement of ($95,785) for May 31, 2019. Consequently, our results indicate no amount must be on deposit in the Rebate Fund.

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

Grau & Associates

DESCRIPTION OF ATTACHED SCHEDULES

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

Purpose Expenditures Future Value Report - Verifies the rebate calculation. The report future values the purpose expenditures by the arbitrage yield limit to the computation date (May 31, 2019).

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

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

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

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

Reunion East COD
Special Assessment Refunding Bonds, Series 2015-1 Summary of Rebate Calculations
$ 7,245,000.00

Dated: Delivered:

05/29/2015
05/29/2015

Anniversary Date. . . . . . . .• . . . . . . . . . . . . . . . . . . . . . . . . .• . . . . . . . . . . . . . . . .	11/01/2015	
Future-Value Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	05/31/2019	
Arbitrage Yield Limit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	6.6009292	
Total efPurpose Expenditures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$6,908,638.00	
Internal Rate of Return. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	0.6263171	
90% efrebate liability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .	-$86,206.90	
Full rebate liability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . •. . . . . .	-$95,785.45	

REUNIE15-1-2016-1 I FY: 1 IMun-EaseElevateMainDb I16.95f EDS I 11/01/2019 I 10:57 I Rpt22
Grau & Associates	Page,	1
Grau & Associates CPAs

Special Assessment Refunding Bonds, Series 20 I 5-1	Delivered:	05/29/2015
Purpose Expenditures Future Value Report	FnlHre Valned To:	05/31/2019
$ 7,245,000.00

Transaction Date	Group
ID	Fund
ID	
Description	Futme Value Periods	Calculation Amt (Int. Earnings)	
Pool%	FV
Factor	FV
Amount	
5n9/2015	-1	COi	Beg. Arbitrage Gross Proceeds	S.01lll 11	-7,245, 000.00	100.0000000	1.2971043	-9,397,520.45	
5/29/2015	2016		Reverse Beg Arb Gross Proceeds	8.0111111	7,245,000.00	100.0000000	1.2971043	9,397,520.45	
5/29/2015	2016		Transferred funds	8.0111111	-549,3 I7.00	100.0000000	1.2971043	-712,521.43	
6/4/2015	2016		COI	7.9833333	-243,733.00	I00.0000000	1.2959348	-315,862.08	
6/4/2015	2016		COi	7.9833333	247,401.00	100.0000000	1.2959348	320,615.57	
6/5/2015	2016		COi	7.9777778	65,000.00	100.0000000	1.2957011	84,220.57	
6/8/2015	2016		COI	7.96l lll 1	37,775.00	100.0000000	1.2950 000	48,918.63	
6/9/2015	2016		COI	7.9555556	22,500.00	100.0000000	1.2947664	29,132.24	
6/16/2015	2016		COI	7.9166667	15,000 .00	100.0000000	1.2931324	19,396.99	
712/2015	2016		Reserve	7.8277778	2.00	100.0000000	1.2894054	2.58	
7/24/2015	2016		COI	7.7055556	7,500.00	100.0000000	1.2842982	9,632.24	
8/4/2015	2016		Reserve	7.6500000	2.00	100.0000000	1.2819834	2.56	
9/2/2015	2016		Reserve	7.4944444	2.00	100.0000000	1.2755242	2.55	
10/2/2015	2016		Reserve	7.3277778	2.00	100.0000000	1.2686398	2.54	
11/3/2015	2016		Reserve	7.1555556	2.00	100.0000000	1.2615649	2.52	
12/2/2015	2016		Reserve	6.9944444	2.00	100.0000000	1.2549822	2.51	
12/4/2015	2016		COi	6.9833333	52,599.00	100.0000000	1.2545295	65,987.00	
1/5/2016	2016		Reserve	6.8111111	2.00	100.0000000	1.2475333	2.50	
2/2/2016	2016		Reserve	6.66ll lll	2.00	100.0000000	1.2414717	2.48	
3/2/2016	2016		Reserve	6.4944444	2.00	100.0000000	1.2347711	2.47	
4/4/2016	2016		Reserve	6.3166667	2.00	100.0000000	1.2276636	2.46	
5/3/2016	2016		Reserve	6.1555556	2.00	100.0000000	1.2212578	2.44	
6/2/2016	2017		Reserve	5.9944444	2.00	100.0000000	1.2148854	2.43	
7/5/2016	2017		Reserve	5.8111111	2.00	100.0000000	1.2076745	2.42	
8/2/2016	2017		Reserve	5.6611111	2.00	100 .0000000	1.2018065	2.40	
9/2/2016	2017		Reserve	5.4944444	2.00	100.0000000	1.1953199	2.39	
10/4/2016	2017		Reserve	5.3166667	2.00	100.0000000	I.I 884395	2.38	
1112/2016	2017		Reserve	5.1611111	2.00	100.0000000	1.1824517	2.36	
12/2/2016	2017		Reserve	4.9944444	2.00	100.0000000	1.1760696	2.35	
1/4/2017	2017		Reserve	4.8166667	24.00	I 00.0000000	1.1693000	28.06	
2/2/2017	2017		Reserve	4.6611 Ill	52.00	100.0000000	1.1634086	60.50	
3/2/2017	2017		Reserve	4.4944444	48.00	I00.0000000	1.1571293	55.54	
4/4/2017	2017		Reserve	4.3166667	76.00	100.0000000	l.1504687	87.44	
5/2/2017	2017		Reserve	4.1611111	102.00	100.0000000	l.1446722	116.76	
6/2/2017	2018		Reserve	3.9944444	110.00	100.0000000	1.1384940	125.23	
7/5/2017	2018		Reserve	3.8111111	140.00	100.0000000	1.1317365	158.44	
8/2/2017	2018		Reserve	3.6611lll	172.00	100.0000000	1.1262375	193.71	
9/5/2017	2018		Reserve	3.4777778	178.00	100.0000000	1.1195528	199.28	
J0/3/2017	2018		Reserve	3.3222222	174.00	100.0000000	1.1139120	193.82	
11/2/2017	2018		Reserve	3.16lllll	183.00	I00.0000000	1.1080998	202.78	
12/4/2017	2018		Reserve	2.9833333	188.00	100.0000000	1.1017214	207.12	
1/3/2018	2018		Reserve	2.8222222	232.00	100.0000000	1.0959727	254.27	
212/2018	2018		Reserve	2.6611111	269.00	100.0000000	1.0902541	293.28	
312/2018	2018		Reserve	2.4944444	251.00	100.0000000	1.0843696	272.18	
4/3/2018	2018		Reserve	2.3222222	321.00	100.0000000	1.0783224	346.14	

REUNIE15-1-2015-1 I FY: 11Mun-EaseElevateMainDb I16.85f EDB I 11/01/2019I 10:57 I Rpt15a
Grau & Associates
Grau & Associates CP/\s

Page	:

Special Assessment Refunding Bonds, Series 2015-1	Delivered:	05/29/2015
Purpose Expenditures Future Value Report	F1111tn Va/Ned To:	05/31/2019
$ 7,245,000.00

Transa&tion Date	Group ID	Fund ID	
Description	Fuum Value Periods	Cak11/ation Amt (Int. Earmngs)	
Pool%	FV
Factor	FV
Am<Junl	
5/2/2018	2018		Reserve	2.1611111	359.00	I 00.0000000	1.0726958	385.10	
6/4/2018	2019		Reserve	1.9833333	383.00	100.0000000	1.0665212	408.48	
7/3/2018	2019		Reserve	1.8222222	401.00	100.0000000	1.0609563	425.44	
8/2/2018	2019		Reserve	1.6611 lll	441.00	100.0000000	1.0554203	465.44	
9/5/2018	2019		Reserve	1.4777778	445.00	100.0000000	1.0491559	466.87	
10/2/2018	2019		Reserve	1.3277778	446.00	100.0000000	l.0440581	465.65	
11/2/2018	2019		Reserve	1.1611111	516.00	100.0000000	1.0384230	535.83	
12/4/2018	2019		Reserve	0.9833333	513.00	100.0000000	1.0324457	529.64	
1/3/2019	2019		Reserve	0.8222222	554.00	100.0000000	1.0270586	568.99	
2/4/2019	2019		Reserve	0.6500000	594.00	100.0000000	1.0213309	606.67	
3/4/2019	2019		Reserve	0.4833333	533.00	100.0000000	1.0158185	541.43	
4/2/2019	2019		Reserve	0.3277778	594.00	100.0000000	1.0107003	600.36	
5/2/2019	2019		Reserve	0.16lllll	578.00	100.0000000	1.0052453	581.03	
5/31/2019	-l		Unspent Pro<:eeds as ofOS/31/2019	0.0000000	345,275.00	100.0000000	1.0000000	345,275.00	
					8,913.00			-1}5,785.45	

	Arbitrage Yield Limit (AYL) . . . . . . . . . . . . . . .	6.6009292	
	lnremal Rate of Return (IRR) . . . . . . . . . . . . . .	0.6263171	
	Future Valued To.. . . . . . . . . . . . . . . . . . . . . . . .	5/31/2019	

REUNIE15-1-2015-1 I FY: 1 I Mun-EaseElevaleMainDb 116.951EDB I 11/01/2019 I 10:57 I Rpt15a
Grau & Associates
Grau & Associates CPAs

Page	2

Period	Coupon Date	Printipal Pqyment	uupon
Rate	Interest Paymt1/J	Cn d. Enh./ Sinking Fund Adj	Penodic
Debt Service	Present Vakle Factor	Dirrounted Debt Service	
I	11/01/2015			201,893.99		201,893.99	0.9729520	196,433.16	
2	05/01/2016	215,000.00	6.600	239,085.00		454,085.00	0.9418660	427,687.24	
3	11/01/2016			231,990.00		231,990.00	0.9117733	211,522.28	
4	05/01/2017	230,000.00	6.600	231,990.00		461,990.00	0.8826420	407,771.78	
5	11/01/2017			224,400.00		224,400.00	0.8544415	191,736.66	
6	05/01/2018	250,000.00	6.600	224,400.00		474,400.00	0.8271419	392,396.13	
7	11/0\/2018			216,150.00		216,150.00	0.8007146	173,074.47	
8	05/01/2019	265,000.00	6.600	216,150.00		481,150.00	0.7751317	372,954.61	
9	11/01/2019			207,405.00		207,405.00	0.7503661	155,629.68	
10	05/01/2020	285,000.00	6.600	207,405.00		492,405.00	0.7263918	357,678.96	
\I	ll/01/2020			198,000.00		198,000.00	0.7031835	139,230.33	
12	OS/01/2021	300,000.00	6.600	198,000.00		498,000.00	0.6807167	338,996.91	
13	11/01/2021			188,100.00		188,100.00	0.6589677	123,951.82	
14	05/01/2022	320,000.00	6.600	188,100.00		508,100.00	0.6379136	324,123.89	
15	11/01/2022			177,540 .00		177,540.00	0.6175321	1 09,636.66	
16	05/01/2023	345,000.00	6.600	177,540.00		522,540.00	0.5978019	312,375.41	
17	11/01/2023			166,155 .0 0		166,155.00	0.5787020	96,154.24	
18	05/01/2024	365,000.00	6.600	166,155.00		531,155.00	0.5602124	297,559.63	
19	11/01/2024			154,110.00		154,110 .00	0.5423136	83,575.94	
20	05/01/2025	390,000.00	6.600	154,110.00		544,110.00	0.5249866	285,650.44	
21	11/01/ 2025			141,240.00		141,240.00	0.5082132	71,780.03	
22	05/01/2026	420,000.00	6.600	141,240.00		561,240.00	0.4919757	276,116.44	
23	11/01/2026			127,380.00		127,380.00	0.4762570	60,665.62	
24	05/01/2027	450,000.00	6.600	127,380.00		577,380.00	0.4610405	266,195.57	
25	11/01/2027			112,530.00		112,530.00	0.4463102	50,223.29	
26	05/01/2028	480,000.00	6.600	112,530.00		592,530.00	0.4320505	256,002.90	
27	11/01/2028			96,690.00		96,690.00	0.4182465	40,440.25	
28	05/01/2029	510,000.00	6.600	96,690.00		606,690.00	0.4048834	245,638.72	
29	11/01/2029			79,860.00		79,860.00	0.3919473	31,300.91	
30	05/01/2030	545,000.00	6.600	79,860.00		624,860.00	0.3794246	237,087.23	
31	11/01/2030			61,875.00		61,875.00	0.3673019	22,726.80	
32	05/01/2031	585,000.00	6.600	61,875.00		646,875.00	0.3555665	230,007.11	
33	11/01/2031			42,570.00		42,570.00	0.3442061	14,652.86	
34	05/01/2032	625,000 .00	6.600	42,570.00		667,570.00	0.3332087	222,440.14	
35	11/01/2032			21,945.00		21,945.00	0.3225626	7,078.64	
36	05/01/2033	665,000.00	6.600	21,945.00		686,945 .00	0.3122567	214,503.19	

REUNIE15-1-2015-1 I FY: 1 I Mun-EaseElevateMainDb I 16.951EOB 111/01/2019	111 : 0 I Rpt01h
Grau & Associates
Grau & Associates CPAs	Pcige	1

	Coupon	Principal	Coupon	Interest	Cred. Enh./	Periodic	Pment Vahle	Discounted	
Period	Date	Pqyment	Rate	Pqyment	Sinkin.g Fund Adj	Debt SeT'llice	Factor	Debt SeT'llice	
7,245,000.00	5,336,858.99	0.00	12,581,858.99	7,244,999.96

True Interest Cost (TIC). . . . . . . .• . .• . . . . .	6.6009292		Face value of bond Issue. . . . . . . . . . .	$7,245,000.00	
Net Interest Cost (NIC). . . . . . . . . . . . . . . . . . .	6.6000000		Accrued interest(+) . . . . . . . . . . . . . . . _ .. .		
Arbitrage Yield Limit (AYL) . . . . . . . . . . . . . . .	6.6009292		Original issue premium/discount(+). . . . . .	$0.00	
Arbitrage Net Interest Cost (ANIC)	, . , ,	6.6000000		Bond surety fee (-). . . . . . . . . . . . . .	$0.00	
			Lump-sum credit enhancements (-). . . . . . . .
Other AYL costs (-)	. . _	$0.00	
AYL Target. . . . . . .  .	$7,245,000.00

REUNIE15-1-2015-1 I FY: 11 Mun-EaseElevateMainDb I 16.95fEDB I11/01/2019 I 11:0 I Rpt01h
Grau & Associates
Grau  & Associates  CPAs	Pclge	2

Reunion East CDD	I
MSRB JO/ :160 SEMI 4/ 3
Special Assessment Refunding Bonds, Series 20I 5-1
T.I.C. Verification Reoort (Regular)	D aud:	5 / 29/20 15
7,245,000.00	D, /i,md :	5 / 29/2 015

Period	Coupon Date	Principal Pqyment	Coupon
Rate	Interest Pqyment	Credit Enhf111cemenli	Periodic Debt Service	Pmenl Vahle Factor	Discounted Debt Seroir:e	
I	11/1/2015			201,893.99		201,893.99	0.9729520	196,433.16	
2	5/1/2016	215,000.00	6.600	239,085.00		454,085 .00	0.9418660	427,687.24	
3	11/1/2016			231,990.00		231,990.00	0.9117733	211,522.28	
4	5/1/2017	230,000.00	6.600	231,990.00		461,990.00	0.8826420	407,771.78	
5	11/1/2017			224,400.00		224,400.00	0.8544415	191,736.66	
6	5/1/2018	250,000.00	6.600	224,400.00		474,400.00	0.8271419	392,396.13	
7	11/1/2018			216,150.00		216,150.00	0.8007146	173,074.47	
8	5/1/2019	265,000.00	6.600	216,150.00		481,150.00	0.7751317	372,954.61	
9	11/1/2019			207,405.00		207,405.00	0.7503661	155,629.68	
JO	5/1/2020	285,000.00	6.600	207,405.00		492,405.00	0.7263918	357,678.96	
II	11/1/2020			198,000.00		198,000 .00	0.7031835	139,230.33	
12	5/1/2021	300,000.00	6.600	198,000.00		498,000 .00	0.6807167	338,996.91	
13	11/1/2021			188,100.00		188,100.00	0.6589677	123,951.82	
14	5/1/2022	320,000.00	6.600	188,100.00		508,100 .00	0.6379136	324,123.89	
15	11/1/2022			177,540.00		177,540.00	0.6175321	109,636.66	
16	5/1/2023	345,000.00	6.600	177,540.00		522,540.00	0.5978019	312,375.41	
17	11/1/2023			166,155 .00		166,155 .00	0.5787020	96,154.24	
18	5/1/2024	365,000.00	6.600	166,155.00		531,155.00	0.5602124	297,559.63	
19	11/1/2024			154,110.00		154,110.00	0.5423136	83,575.94	
20	5/1/2025	390,000.00	6.600	154,110.00		544,110.00	0.5249866	285,650.44	
21	11/1/2025			141,240.00		141,.240.00	0.5082132	71,780.03	
22	5/1/2026	420,000.00	6.600	141,240.00		561,240.00	0.4919757	276,116.44	
23	11/1/2026			127,380.00		127,380.00	0.4762570	60,665.62	
24	5/1/2027	450,000.00	6.600	127,380 .00		577,380 .00	0.4610405	266,195.57	
25	11/1/2027			l 12,530.00		112,530 .00	0.4463102	50,223.29	
26	5/1/2028	480,000.00	6.600	112,530.00		592,530.00	0.4320505	256,002.90	
27	11/1/2028			96,690 .00		96,690.00	0.4182465	40,440.25	
28	5/1/2029	510,000.00	6.600	96,690.00		606,690.00	0.4048834	245,638.72	
29	11/1/2029			79,860.00		79,860 .00	0.3919473	31,300.9)	
30	5/1/2030	545,000.00	6.600	79,860.00		624,860.00	0.3794246	237,087.23	
31	11/1/2030			61,875.00		61,875.00	0.3673019	22,726.80	
32	5/1/2031	585,000.00	6.600	61,875.00		646,875.00	0.3555665	230,007.11	
33	11/1/2031			42,570.00		42,570.00	0.3442061	14,652.86	
34	5/1/2032	625,000.00	6.600	42,570.00		667,570.00	0.3332087	222,440.14	
35	11/1/2032			21,945.00		21,945.00	0.3225626	7,078.64	
36	5/1/2033	665,000.00	6.600	21,945.00		686,945.00	0.3122567	214,503.19	

REUNIE15-1-2015-1 I FY: 11 Mun-EaseElevateMainDb 116.95f EDB I 11101/2019 I 11:1 I Rpt01a
Grau & Associates	Paw,	1
Grau & Associates CPAs

Reunion East COO
Special Assessment Refundin Bonds, Series 2015-1

2
MSRB JO/ 360 SEMl 4/ J

T.I.C. Verification Reoort (Regular)
7,245,000.00
CoJlj)On	Principal	Coupon	lntemt Penod	Date	Pqymenl		Rate	Pqyment

Credit Enhancements

Periodic Debt Service

Dated, Delim ed:
Pruent Va!Ne Factor

5/29/2015

5/29/20/S

Discounted Debt Service

7,145,000.00	5,336,858.99	0.00	12,581,858.99	7,244,999.96

True Interest Cost ([IC)	6.6009292
Net Interest Cost (NJC)	6.6000000
Arbitrage Yield Limit (AYL) . . . . . . . . . . .	6.6009292

Face value of bond Issue.
Accrued interest (+) . . . . . . . . . . . . . . . . .

Underwriter discount(+) . . . . . . . . . . . . .	$0.00	
Lump-sum credit enhancements (·) . . . . . . . .
Other TIC costs (-) .......	$0.00	
Bond surety fee {-) .......	N/A	
e TIC Target .	$7,245,000.00	

Original issue  premium/discount{+) . . . .

$7,245,000.00

$0.00

Arbitrage Net Interest Cost (ANIC)	•. •.

. . .	6.6000000

REUNIE15-1-2015--1 I FY: 1 IMun-EaseElevateMainDb ( 16.95f EDB (11/01/2019 ( 11:1 I Rpt01a
Grau & Associates	Page	2
Grau & Associates CPAs

Cak
Date	G,p
ID	
Pt1,p	Ft1nd
ID	
Description	Gross
Amot1nt	Pool
Percmtage	Nonpt1,pose Investment	Pt1,pose Expendit11res	Unspent Promds	
OS/2912015	-1	N	COi	Beg. Arbitrage Gross Proceeds		100.0000000			7,245,000.00	
05/2912015	2016	y		Reverse Beg Arb Gross Proceeds	7,245,000.00	100.0000000		7,245,000.00	0.00	
05/2912015	2016	y		Transferred funds	-549,317.00	I00.0000000		-549,317.00	549,317.00	
06/04/2015	2016	y		COi	-243,733.00	I 00.0000000		
-243,733.00	
793,050.00	
06/04/201S	2016	y		CO!	247,401.00	100.0000000		247,401.00	S4S,649.00	
06/05/2015	2016	y		COi	65,000.00	100.0000000		65,000.00	480,649.00	
06/081201S	2016	y		COi	37,775.00	100.0000000		
37,775.00	
442,874.00	
06/09/2015	2016	y		COi	22,500.00	I 00.0000000		22,500.00	420,374.00	
06/161201S	2016	y		COi	15,000.00	I00.0000000		
15,000.00	
405,374.00	
07102/201S	2016	y		Reserve	2.00	100.0000000		
2.00	
405,372.00	
07/2412015	2016	y		COi	7,500.00	100.0000000		7,500.00	
397,872.00	

081041201S	2016	y		Reserve	2.00	I00.0000000		
2.00	
397,870.00	

09/02/201S	2016	y		Reserve	2.00	100.0000000		
2.00	
397,86.800	
J0/0212015	2016	y		Reserve	2.00	100.0000000		
2.00	
397,866.00	
11/031201S	2016	y		Reserve	2.00	100.0000000		
2.00	
397,864.00	
12/02/2015	2016	y		Reserve	2.00	100.0000000		
2.00	
3978, 62.00	
\21041201S	2016	y		COi	52,599.00	100.0000000		52,599.00	345,263.00	
Ol/0S12016	2016	y		Reserve	2.00	100.0000000		
2.00	
345,261.00	
02/02/2016	2016	
y		Reserve	2.00	I00.0000000		
2.00	
345,259.00	
03/0212016	2016	y		Reserve	2.00	100,0000000		
2.00	
345,257.00	
04/04/20)6	2016	y		Reserve	2.00	100.0000000		
2.00	
345,255.00	
05/0312016	2016	y		
Reserve	2.00	I 00.0000000		
2.00	
345,253.00	

06/02/2016	2017	y		Reserve	2.00	I00.0000000		
2.00	
345,251.00	
07/0512016	2017	y		Reserve	2.00	100.0000000		
2.00	
345,249.00	
08/0212016	2017	y		Reserve	2.00	100.0000000		2.00	
345,247.00	

09/02/2016	2017	y		Reserve	2.00	I 00.0000000		
2.00	
345,245.00	

10/04/2016	
2017	y		Reserve	2.00	I 00.0000000		
2.00	
345,243.00	

REUNIE15-1-2015-1 I FY: 1 I Mun-EaseElevateMainDb I16.95f EDB I11/01/2019I10:57 I Rpt11

Grau & Associates
Grau & Associates CPAs

P;ige	1

Cale Date	Grp
ID	
P11rp	Fund ID	
Description	Gross Amount	Pool Pentnlage	Nonp11,pose lllvestmtnt	Pmpose Expendilms	Unsptnl
Pro,miJ	

11/02/2016	
2017	
y		
Reserve	
2.00	
100.0000000		
2.00	
345,241.00	

12/02/2016	
2017	y		Reserve	
2.00	
100.0000000		
2.00	
345,239.00	

01/04/2017	
2017	y		Reserve	
24.00	
100.0000000		
24.00	
345,215.00	

02/02/2017	
2017	y		
Reserve	
52.00	
100.0000000		
52.00	
345,163.00	

03/02/2017	
2017	y		Reserve	
48.00	
100.0000000		
48.00	
345,115.00	

04/04/2017	
2017	y		Reserve	
76.00	
100.0000000		
76.00	
345,039.00	

05/02/2017	
2017	y		
Reserve	
102.00	
I 00.0000000		
102.00	
344,937.00	

06/02/2017	
2018	y		Reserve	
JJ0.00	
I 00.0000000		
110.00	
344,827.00	

07/05/2017	
2018	y		Reserve	
140.00	
100.0000000		
140.00	
344,687.00	

08/02/2017	
2018	y		Reserve	
172.00	
100.0000000		
172.00	
344,515.00	

09/05/2017	
2018	y		
Reserve	
178 ,00	
I 00.0000000		
178.00	
344,337.00	

10/03/2017	
2018	y		Reserve	
174.00	
100.0000000		
174.00	
344,163. 00	

11/02/2017	
2018	y		
Reserve	
183.00	
100.0000000		
183.00	
343,980.00	

12/04/2017	
2018	y		Reserve	
188.00	
100.0000000		
188.00	
343,792.00	

01/0312018	
2018	y		Reserve	
232.00	
100.0000000		
232.00	
343.560.00	

02/02/2018	
2018	y		
Reserve	
269 .00	
100.0000000		
269.00	
343,291.00	

03/02/2018	
2018	y		Reserve	
251.00	
100.0000000		
251.00	
34>,040.00	

04/03/2018	
2018	y		Reserve	
321.00	
I00.0000000		
321.00	
342,719.00	

05/02/2018	
2018	y		
Reserve	
359 .00	
100.0000000		
359.00	
342,360.00	

06/04/2018	
2019	y		
Reserve	
383.00	
100.0000000		
383.00	
341,977.00	

07/0312018	
2019	y		Reserve	
401.00	
100.0000000		
401.00	
341,576.00	

08/02/2018	
2019	y		
Reserve	
441.00	
100.0000000		
441.00	
341,135.00	

09/05/2018	
2019	y		Reserve	
445.00	
100.0000000		
445.00	
340,690.00	

10/02/2018	
2019	y		Reserve	
446 .00	
100.0000000		
446.00	
340,244.00	

REUNIE15-1-2015-•1 I FY: 1 I Mun-EaseElevateMainOb I 16.95f EDB I 11101/2019 I 10:57 I Rpm

Grau & Associates
Grau & Associates CPAs

Page	2

	Cale Date	Grp
ID	
Pmp	Fund
ID	
Description	Gross
A111011111	Pool
Pemntage	No11p11,pose Investment	Pmpost Ex/J'11dit1ms	Umpmt Pror:ttds	
	
11/02/2018	
2019	y		
Reserve	
516.00	)00.0000000		
516.00	
339,728.00	
	12/04/2018	2019	y		Reserve	513.00	100.0000000		513.00	339,215.00	
	01/03/2019	2019	y		Reserve	554.00	100.0000000		554.00	338,661.00	
	02104/2019	2019	y		Reserve	594.00	100.0000000		594.00	338,067.00	
	03/04/2019	2019	y		Reserve	533.00	100.0000000		533.00	337,534.00	
	04/0212019	2019	y		Reserve	594.00	I 00.0000000		594.00	336,940.00	
	05/02/2019	2019	y		Reserve	578.00	I 00.0000000		578.00	336,362.00	
						6,908,638.00		0.00	6,908,638.00		

	First Investment Date. ..... , . . . . . . . . . . . . . . . . . .	5/29/2015		
	Calculation Dale . . . . . . . . . . . . . .. . . . . . . . . . . . . .	6/3112019		
	Arbitrage Yield Umit (AYLJ .. . . . . . . . . . . . . . . . . . .	6.6009292		
	Internal Rate of Return (IRR).. . . . . . . . . . . . . . . . .	0.6263171		

REUNIE15·1-2015-1 I FY: 11 Mun-EaseElevateMainDb116.95f EOB I 11/01/2019 I 10:57 I Rpt11
Grau & Associates
Grau  & Associates CPAs	Page	3

G,p
ID	Trans Date	Fund
ID	

Description	D'?J Count CakulaJion Amt	Pool Factor	(Interest Earnings) Pctg	** Internal Rate ojReturn **
PVFactor	PVAmt	
-I	05/29/2015		Beg. Arbitrage Gross Proceeds	0.0000000	(7,245,000.00) 100.000	1.0000000	(7,245,000.00)	
2016	05/29/2015		Transferred funds	0.0000000	(549,317.00) l00.000	1.0000000	(549,317.00)	
	05/29/2015	Reverse Beg Arb Gross Proceeds	0.0000000	7,24, 5 000.00	100.000	1.0000000	7,245,0000. 0	
	06/04/2015	COi	0.0277778	247,401.00	100.000	0.9999132	247,379.51	
	06/04/2015	COi	0.0277778	(243,733.00)	l00.000	0.9999132	(243,711.83)	
	06/05/2015	COi	0.0333333	65,000.00	100.000	0.99989S8	64,993.23	
	06/08/2015	COi	0.0500000	37,775.00	100.000	0.9998437	37,769.09	
	06/09/2015	COi	0.0555556	22,500.00	100.000	0.9998263	22,496.09	
	06/16/2015	COi	0.0944444	15,000.00	100.000	0.9997047	14,995.S7	
	07/02/2015	Reserve	0.1833333	2.00	l00.000	0.9994269	2.00	
	07/24/2015	COi	0.3055556	7,500.00	100.000	0.9990451	7,492.84	
	08/04/2015	Reserve	0.3611111	2.00	100.000	0.9988716	2.00	
	09/02/2015	Reserve	0.5166667	2.00	l00.000	0.9983858	2.00	
	10/02/2015	Reserve	0 .6833333	2 .00	100.000	0.9978657	2.00	
	11/03/2015	Reserve	0.85555S6	2.00	100.000	0.9973285	1.99	
	12/02/2015	Reserve	1.0166667	2.00	100.000	0.9968262	1.99	
	12/04/2015	COi	1.0277778	52,599.00	l00.000	0.9967916	52,430.24	
	01/05/2016	Reserve	1.2000000	2.00	100.000	0.9962550	1.99	
	02/02/2016	Reserve	1.3500000	2.00	100.000	0.9957879	1.99	
	03/02/2016	Reserve	1.5166667	2.00	100.000	0.9952691	1.99	
	04/04/2016	Reserve	l.6944444	2.00	100.000	0.9947160	1.99	
	05/03/2016	Reserve	1.8555556	2.00	100.000	0.9942150	1.99	
2017	06/02/2016	Reserve	2.0166 667	2.00	100.000	0.9937143	1.99	
	07/05/2016	Reserve	2.2000000	2.00	100.000	0.9931449	1.99	
	08/02/2016	Reserve	2.3500000	2.00	100.000	0.9926792	I.99	
	09/02/2016	Reserve	2.5166667	2.00	100.000	0.9921620	I.98	
	l0/04/2016	Reserve	2.6944444	2.00	100.000	0.9916107	1.98	
	11/02/2016	Reserve	2.8500 000	2.00	100.000	0.9911285	1.98	
	12/02/2016	Reserve	3.0166667	2.00	100.000	0.9906122	l.98	
	01/04/2017	Reserve	3.1944444	24.00	100.000	0.9900617	23.76	
	02/02/2017	Reserve	3.3500000	52.00	100.000	0.9895802	51.46	
	03/02/2017	Reserve	3.5166667	48.00	l00.000	0.9890647	47.48	
	04/04/2017	Reserve	3 .69 44444	76.00	100.000	0.9885151	75.13	
	05/02/2017	Reserve	3.8500000	102.00	100.000	0.9880344	100.78	
2018	06/02/2017	Reserve	4.0166667	110.00	100.000	0.9875197	108.63	
	07/05/2017	Reserve	4.2000000	140.00	100.000	0.9869537	138.17	
	08/02/2017	Reserve	4.3500000	172.00	l00.000	0.9864910	169.68	
	09/05/2017	Reserve	4 .5333333	178.00	100.000	0.9859256	175.49	
	10/03/2017	Reserve	4.6888889	174.00	100.000	0.9854462	171.47	
	11/02/2017	Reserve	4 .85 00000	183.00	100.000	0.9849499	180.25	
	12/04/2017	Reserve	5.0277778	188.00	100.000	0.9844026	185.07	
	01/03/2018	Reserve	5.1888889	232.00	100.000	0.9839068	228.27	
	02/02/2018	Reserve	5.3500000	269.00	100.000	0.9834113	264.54	
	03/02/2018	Reserve	5.5166667	251.00	100.000	0.9828990	246.71	
	04/03/2018	Reserve	5.6888889	321.00	100.000	0.9823699	315.34	
	05/02/2018	Reserve	5.8500000	359.00	100.000	0.9818751	352.49	
2019	06/04/2018	Reserve	6.0277778	383.00	100.000	0.9813295	375.85	
	07/03/2018	Reserve	6 .1888889	401.00	100.000	0.9808353	393.31	
	08/02/2018	Reserve	6.3500000	441.00	100.000	0.9803413	432.33	
	09/05/2018	Reserve	6.5333333	445.00	100.000	0.9797795	436.00	
	10/02/2018	Reserve	6.6833333	446.00	100.000	0.9793201	436.78	
REUNIE15-1-2015-1 I FY: 1 I Mun-EaseElevateMainOb I 16.95f EDB I 11/01/2019 I 10:57 I Rpt09c
Grau & Associates	Pago	1
Grau & Associates CPAs

$ 7,245,000.00

G,p	Trans
ID	Date	Fund ID	

Description	Dqy Count Faaor	Calculation Amt (Intmst Earnings)	Pool Pctg	** Internal Rate PV Factor	of Return **
PV Amt		
2019 11/02/2018		Reserve	6.8S00000	516 .0 0	100.000	0.9788099	505.07		
12/04/2018		Reserve	7.0277778	513.00	JOO .ODO	0.9782660	501.85		
01/03/2019		Reserve	7.1888889	554.00	JOO.ODO	0.9777733	541.69		
02/04/2019		Reserve	7.3611111	594.00	100.000	0.9772469	580.48		
03/04/2019		Reserve	7.5277778	533.00	I00.000	0.9767378	520.60		
04/02/2019		Reserve	7.6833333	594.00	100.000	0.9762628	S79.90		
05/02/2019		Reserve	7.8S00000	578.00	100.000	0.9757S42	S63.99		
99999 OS/31/2019		Unspent Proceeds as ofOS/31/2019	8.0111111	345,275.00	100.000	0.9752628	336,733.87		
				8,913.00			(0.01)		

Arbitrage Yield Limit .. . . . . . . . . . . . . . .
Internal Rate of Return . . . . . . . . . . . . . . .
Calculation Standard .. . . . . . .. . . . . .. .

6.6009292
0.6263171
MSRB  30/360 SEMI 4/3

REUNIE15-1-2015-1 I FY: 11 Mun-EaseElevateMainDb 116.95fEDB I 11/01/201911 0:57 I Rpt09c
Grau & Associates	Poge	2
Grau & Associates CPAs

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT
$8,475,000
SPECIAL ASSESSMENT REFUNDING BONDS SERIES 2015-2
ARBITRAGE REBATE REQUIREMENT MAY 31, 2019

Grau & Associates
CERTIFIED  PUBLIC ACCOUNTANTS

951 Yamato Road • Suite 280 Boca Raton, Florida 33431 (561) 994-9299 • (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

October 31, 2019

Reunion East Community Development District Osceola County, Florida

Re:		$8,475,000 Reunion East Community Development District (Osceola County, Florida)
Special Assessment Refunding Bonds, Series 2015-2 (the "Bonds")

Reunion East Community Development District has requested that we  prepare certain computations related to the above-described Bonds for the year ended May 31, 2019 ("Computation Period"). The engagement consisted of the preparation of computations to be used to assist in the determination of the amount, if any, of the Rebate Requirement for the Bonds for the Computation Period as described in Section 148(f) of the Internal Revenue Code of 1986, as amended ("Code"). You  have the ultimate responsibility for your compliance with arbitrage rebate laws; therefore, you should review the calculations carefully.

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

The results of our computations based on the information provided to us indicate a negative Rebate Requirement of ($101,170) for May 31, 2019. Consequently, our results indicate no amount must be on deposit in the Rebate Fund.

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

Grau & Associates

DESCRIPTION OF ATTACHED SCHEDULES

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

Purpose ExpendituresFuture Value Report - Verifies the rebate calculation. The report future values the purpose expenditures by the arbitrage yield limit to the computation date (May 31, 2019).

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

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

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

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

Reunion East CDD
Special Assessment Refunding Bonds, Series 20 I 5-2 Summary of Rebate Calculations
$ 8,475,000.00

Dated: Delivered:

05/29/2015
05/29/2015

Anniversary Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	11/01/2015	
Future-Value Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	05/31/2019	
Arbitrage Yield Llmit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	6.6008322	
Total of Pmpose Expenditures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$8,112,137.00	
Internal Rate of Return. . . . . . . . . . . . . . . •. . . . . . . •. . . . . . . . . . . . . . . . . . .• . . .	0.6386727	
90% of rebate liability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	-$91,052.69	
Full n:bate liabtli!J. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	-$101,169.65	

REUNIE15-2-2015--2 I FY: 1 I Mull-EaseElevateMainDb i 1 6.95f EDB I 11/01/2019 I 11:28 I Rpt22
Grau & Associates
Grau & Associates CPAs

Pagr:	1

Purpose Expenditures Future Value Report	F11t11ro Vo/r,ed To:	05/31/2019
$ 8,475,000 .00

Transaction Date	Group
ID	F,md
ID	
Description	Future Value Periods	Ca/culatio11 Amt (Int. Earnings)	
Pool%	FV
Factor	FV
Amo1mt	
5/29/2015	-I	COI	Beg. Arbitrage Gross Proceeds	8.0111111	-8,475 ,000.00	100.0000000	1.2970994	-10,992,917.36	
5/29/2015	2016		Reverse beg arb gross proceeds	8.0ll l ll l	8,475,00.00	l 00.0000000	1.2970994	10,992,917.36	
5/29/2015	2016		Transferred funds	8.0ll1111	-617,746.00	100.0000000	1.2970994	-801,277.96	
6/4/2015	2016		COi	7.9833333	243,733.00	I 00.0000000	1.295930 0	315,860.90	
7/2/2015	2016		Reserve	7.8277778	2.00	100.0000000	1.2894006	2.58	
8/4/2015	2016		Reserve	7.6S00000	2.00	100.0000000	1.2819788	2.56	
9/2/2015	2016		Reserve	7.4944444	2.00	100.0000000	1.2755197	2.55	
10/2/2015	2016		Reserve	7.3277778	2.00	100.0000000	1.2686354	2.54	
11/3/2015	2016		Reserve	7.1555556	2.00	100.0000000	1.2615607	2.52	
12/2/2015	2016		Reserve	6.9944444	2.00	100.0000000	1.2549781	2.51	
1/5/2016	2016		Reserve	6.8111 lll	2.00	100.0000000	1.2475293	2.50	
2/212016	2016		Reserve	6.6611111	2.00	100.0000000	1.2414678	2.48	
3/2/2016	2016		Reserve	6.4944444	2.00	100.0000000	1.2347673	2.47	
41212016	2016		Reserve	6.3277778	2.00	100.0000000	1.2281029	2.46	
5/3/2016	2016		Reserve	6.1555556	2.00	100.0000000	1.2212542	2.44	
6/212016	2017		Reserve	5.9944444	2.00	100.0000000	1.2148820	2.43	
7/5/2016	2017		Reserve	S.811lll I	2.00	100.0000000	1.2076712	2.42	
8/2/2016	2017		Reserve	5.6611111	2.00	I00.0000000	1.2018033	2.40	
9/212016	2017		Reserve	5.4944444	2.00	100.0000000	1.1953169	2.39	
10/4/2016	2017		Reserve	5.3166667	2.00	100.0000000	1.1884366	2.38	
11/2/2016	2017		Reserve	S.16111ll	2.00	100.0000000	1.1824488	2.36	
12/2/2016	2017		Reserve	4.9944444	2.00	100.0000000	1.1760669	2.35	
1/4/2017	2017		Reserve	4.8166667	27.00	100.0000000	1.1692974	31.57	
2/212017	2017		Reserve	4.6611111	57.00	100.0000000	1.1634061	66.31	
3/2/2017	2017		Reserve	4.4944444	52.00	100.0000000	1.1S71269	60.17	
4/4/2017	2017		Reserve	4.3166 667	82.00	100.0000000	1.1S04664	94.34	
5/2/2017	2017		Reserve	4.1611111	111.00	100.0000000	1.1446700	127.06	
6/2/2017	2018		Reserve	3.9944444	119.0 0	100.0000000	1.1384919	135.48	
11S/2017	2018		Reserve	3.81lllll	151.00	100.0000000	1.1317345	170.89	
8/2/2017	2018		Reserve	3.6611111	187.00	100.0000000	l.1262356	210.61	
9/5/2017	2018		Reserve	3.4777778	193.00	100.0000000	1.1195510	216.07	
10/3/2017	2018		Reserve	3.3222222	188.00	100.0000000	1.1139103	209.42	
11/2/2017	2018		Reserve	3.1611111	198.00	100.0000000	1.1080981	219.40	
12/4/2017	2018		Reserve	2.9833333	204.00	100.0000000	1.1017199	224.75	
1/3/2018	2018		Reserve	2.8222222	251.00	100.0000000	1.0959713	275.09	
2/2/2018	2018		Reserve	2.6611111	291.00	100.0000000	1.0902527	317.26	
3/2/2018	2018		Reserve	2.4944444	272.00	100.0000000	1.0843683	294.95	
4/3/2018	2018		Reserve	2.3222222	348.00	100.0000000	1.0783212	375.26	
5/212018	2018		Reserve	2.1611111	388.00	100.0000000	1.0726947	416.21	
6/4/2018	2019		Reserve	1.9833333	415.00	100.0000000	1.0665203	442.61	
7/3/2018	2019		Reserve	1.8222222	435.00	100.0000000	1.0609553	46152	
812/2018	2019		Reserve	1.6611111	477.00	I00.0000000	1.0554195	503.44	
9/5/2018	2019		Reserve	1.4777778	482.00	100.0000000	1.0491552	505.69	
10/2/2018	2019		Reserve	l.3277778	483.00	I00.0000000	1.0440575	504.28	
11/1/2018	2019		Reserve	1.1666667	1,083.00	100.0000000	1.0386098	1,124.81	

REUNIE15-2-2015-2 I FY: 11 Mun-EaseElevateMainDb ( 16.95f EDB (11/01/2019 ( 11:28 I Rpt15a

Grau & Associates
Grau & Associates CPAs

Paqe	1
,

Purpose Expenditures Future Value Report
$ 8,475,000.00

F111tm Vo/11ed To:

05/31/2019

	Transaction Date	Group
ID	Fund
ID	
Description	Fut111'e Value Periods	Calculation Amt (Int. Earnings)	
Pool%	FV
Factor	FV
Amount	
	11/2/2018	2019		Reserve	1.161lll l	559.00	100.0000000	1.0384225	580.48	
	12/4/2018	2019		Reserve	0.9833333	554.00	I 0 0.0000000	1.0324453	571.97	
	1/3/2019	2019		Reserve	0.8222222	599.00	100.0000000	1.0270582	61S.21	
	2/4/2019	2019		Reserve	0.6500000	641.00	100.0000000	1.0213306	654.67	
	3/4/2019	2019		Reserve	0.4833333	576.00	100.0000000	1.0158182	585.11	
	4/2/2019	2019		Reserve	0.3277778	641.00	100.0000000	1.0107002	647.86	
	5/1/2019	2019		Reserve	0.1666667	425.00	100.0000000	1.0054265	427.31	
	5/2/2019	2019		Reserve	0.1611111	625.00	100.0000000	1.0052452	628.28	
	5/31/2019	-I		Unspent Proceeds as of05/31/2019	0.0000000	372,505.00	I 00.0000000	1.0000000	372,505.00	
						9,642.00			-101,169.65	

	Arbitrage Yield Limit (AYL) . •. . . . . . . . . . . . .	6.6008322		
	Internal Rate of Return (IRR) . . . . . . . . . . . . . .	0.6386727			
	Future Valued To.. . . .. . . . . . . . . . . . . . . . . . . .	5131/2019			

REUNIE15-2-2015-2 I FY: 11 Mun-EaaeElevateMainOb I16.95fEDB I 11/01/2019 I 11:28 I Rpt15a
Grau & Associates
Grau & Associates CPAs

Page	2

Reunion East CDD	Dated:	05/29/2015
Special Assessment Refunding Bonds, Series .20 I 5-.2	Delivered:	05/29/2015
A.Y.L. Verification Report

8,475,0 00.00

MSRB 301360 SEMI 4/ 3

Coupon	Principal	ColljJon		Interest		Cred. Enh./		Periodic	Present Value		Discounted Period	Date	PtfJ111enl		Rate	Pqyment	Sinking Fund Adj	Debt Service		Factor	Debt Servi.e

1	11/01/2015	236,170.00	236,170.00	0.9729524	229,782.16
2	05/01/2016	195,000.00	6.600	279,675.00	474,675.00	0.9418669	447,080.65
3	11/01/2016	273,240.00	273,240.00	0.9117745	249,133.27
4	05/01/2017	205,000 .00	6.600	273,240.00	478,240.00	0.8826436	422,115.47
5	11/01/2017	266,475.00	266,475.00	0.8544434	227,687.81
6	05/01/2018	220,000.00	6.600	266,475.00	486,475.00	0.8271442	402,384.98
7	11/01/2018	259,215.00	259,215 .00	0.8007172	207,557.91
8	05/0112019	235,000.00	6.600	259,215.00	494,215 .00	0.7751345	383,083.12
9	11/01/2019	251,460.00	251,460.00	0.7503692	188,687.85
10	05/01/2020	250,000.00	6.600	251,460.00	501,460.00	0.7263952	364,258.12
11	I1/01/2020	243,210.00	243,210.00	0.7031871	171,022.13
12	05/01/2021	270,000.00	6.600	24, 3 210.00	513,210.00	0.6807205	349,352.55
13	11/01/2021	234,300.00	234,300.00	0.6589717	154,397.06
14	05/01/2022	285,000.00	6.600	234,300.00	519,300 .00	0.6379177	331,270.67
15	11/01/2022	224,895.00	224,895.00	0.6175364	138,880.86
16	05/0112023	305,000 .00	6.600	224,895.00	529,895.00	0.5978063	316,774.59
17	11/01/2023	214,830.00	214,830.00	0.5787066	124,323.54
18	05/01/2024	325,000.00	6.600	214,830.00	539,830.00	0.5602171	302,422.01
19	11/01/2024	204,105.00	204,105.00	0.5423184	110,689.89
20	05/01/2025	350,000.00	6.600	204,105.00	5S4,105.00	0.5249915	290,900.39
21	11/01/2025	192,555.00	192,555.00	0.5082181	97,859.95
22	05/01/2026	375,000.00	6.600	192,555.00	567,555.00	0.4919807	279,226.13
23	11/01/2026	180,180.00	180,180.00	0.4762621	85,812.91
24	05/01/2027	400,000.00	6.600	180,180.00	580,180.00	0.4610457	267,489.48
25	11/01/2027	166,980.00	166,980.00	0.4463154	74,525.75
26	05/01/2028	425,000.00	6.600	166,980.00	591,980.00	0.4320558	255,768.38
27	11/01/2028	152,955 .00	152,955.00	0.4182517	63,973.69
28	05/01/2029	455,000.00	6.600	152,955.00	607,955.00	0.4048887	246,154.12
29	11/01/2029	137,940.00	13, 7 940 .00	0.3919526	54,065.95
30	05/01/2030	485,000.00	6.600	137,940.00	622,940.00	0.3794299	236,362.05
31	11/01/2030	121,935.00	121,935.00	0.3673072	44,787.61
32	05/01/2031	520,000.00	6.600	121,935.00	641,935. 00	0.3555719	228,254.03
33	11/01/2031	104,775.00	104,775.00	0.3442115	36,064.76
34	05/01/2032	555,000.00	6.600	10, 4 775.00	659,775.00	0.3332140	219,846.27
35	11/01/2032	86,460.00	86,460.00	0.3225679	27,889.22
36	05/01/2033	590,000.00	6.600	86,460.00	676,460.00	0.3122620	211,232.74
37	11/01/2033	66,990.00	66,990.00	0.3022853	·  20,250.09
38	05/01/2034	635,000.00	6.600	66,990.00	701,990.00	0.2926274	205,421.50
39	11/01/2034	46,035.00	46,035.00	0.2832780	13,040.70
40	05/01/2035	675,000.00	6.600	46,035.00	721,035.00	0.2742274	197,727.54
41	11/01/2035	23,760.00	23,760.00	0.2654659	6,307.47

REUNIE15-2-2015-2 I FY: 11 Mun-EaseElevateMainDb116.951 EDB I 11/01/2019 I 11:30 I Rpt01h
Grau & Associates	
Grau & Assoc iates CPAs	Pasie	1

Reunion East COD
Special Assessment Refunding Bonds, Series 2015-2
A.Y.L. Verification Report

Dated: Delivered:

05/29/2015
05/29/2015

8, 475,000 .00

MfRB 30/ 360 SEMI 4/ 3

Period	Coupon Date	Principal Pqyment	Coupon Rate	Interest Pqyment	Cred Enh./
Sinking Fund Adj	Perwdic Debt S eroice	Presmt Value Factor	Discounted Debt Sentice	
42	05/0 I /2036	720,000 .00	6.600	23,760.00		743,760 .00	0.2569844	191,134.68	
		8,475,000.00		7,420,435.00	0.00	15,895,435.00		8,475,000.03	
True Interns/ Cost ([JC)	•.	6.6008322		Face value of bond Issue. . . . . . . . . . . .• .•	$8,475,000.00	
Net Interest Cost (NJC). . . . . . . . . . . . . . . . .	6.6000000		Accrued interest (+) . . . . . . . . . . . . . . . . . . .		
Arbitrage Yield Ltmit (AYL) . . . . . . . . . . . . . . .	6.6008322		Original issue premiumldiscounl (+). . . . . .	$0.00	
Arbitrage Net Interest Cost (ANJC). . . . . .. .	6.6000000		Bond surety fee (-)	•.	$0.00	
			Lump-sum credit enhancements (-). . . . . . . .
Other AYL costs (-) . . . . . . . .
= AYL Targel. . . . . . . . . . . . ..	$0.00

$8,475,000.00	

REUNIE15-2-2015-2 I FY: 11 Mun-EaseElevateMainOt> I 16.95f EDB I 11/01/2019 \ 11 :30 I Rpt01h
Grau & Associates
Grau & Associates CPAs	Page	2

Special Assessment Refunding Bonds, Series 20 I 5-2

MSRB 30 /3 60 SEMI 4I 3

T.I.C. Verification Reoort (Regular)	Daltd·	5/ 29/ 2015
8,475 ,000.00	D , /i,.r,d:	5 / 29/2015

Period	Coupon
Date	Principal Pqyment	Coupon Rate	Interest Pqyment	Credit Enhancements	Periodic Debt S eroice	Present Value Factor	Dis,011nted Debt Sentice	
	11/1/2015			236,170.00		236,170 .00	0.9729524	229,782.16	
2	5/1/2016	195,000.00	6.600	279,675.00		474,675.00	0.9418669	447,080.65	
3	ll/1/2016			273,240.00		273,240.00	0.9117745	249,133.27	
4	5/1/2017	205,000.00	6.600	273,240.00		478,240 .00	0.8826436	422,115.47	
5	11/1/2017			266,475.00		266,475 .00	0.8544434	227,687.81	
6	5/1/2018	220,000.00	6.600	266,475.00		486,475 .00	0.8271442	402,384.98	
7	11/1/2018			259,215.00		259,215.00	0.8007172	207,557.91	
8	5/1/2019	235,000.00	6.600	259,215.00		494,215.00	0.7751345	383,083.12	
9	11/1/2019			251,460.00		251,460.00	0.7503692	188,687.85	
10	5/1/2020	250,000.00	6.600	251,460.00		501,460.00	0.7263952	364,258.12	
11	11/1/2020			243,210.00		243,210.00	0.7031871	171,022.13	
12	5/1/2021	270,000.00	6.600	243,210.00		513,210.00	0.6807205	349,352.55	
l3	ll/1/2021			234,300.00		234,300.00	0.6589717	154,397.06	
14	5/1/2022	285,000.00	6.600	234,300.00		519,300.00	0.6379177	331,270.67	
15	11/1/2022			224,895.00		224,895.00	0.6175364	138,880.86	
16	5/1/2023	305,000.00	6.600	224,895.00		529,895.00	0.5978063	316,774.59	
17	11/1/2023			214,830.00		214,830.00	0.5787066	124,323.54	
18	5/1/2024	325,000.00	6.600	214,830.00		539,830.00	0.5602171	302,422.01	
19	Jl/1/2024			204,105.00		204,105.00	0.5423184	110,689.89	
20	5/1/2025	350,000.00	6.600	204,105.00		554,105.00	0.5249915	290,900.39	
21	I 1/1/2025			192,555.00		192,555.00	0.5082181	97,859.95	
22	5/1/2026	375,000.00	6.600	192,555 .00		567,555.00	0.4919807	279,226.13	
23	11/1/2026			180,180.00		180,180 .00	0.4762621	85,812.91	
24	5/1/2027	400,000.00	6.600	180,180.00		580,180.00	0.4610457	267,489.48	
25	11/1/2027			166,980.00		166,980.00	0.4463154	74,525.75	
26	5/1/2028	425,000.00	6.600	166,980.00		591,980.00	0.4320558	255,768.38	
27	ll/l/2028			152,955.00		152,955 .00	0.4182517	63,973.69	
28	5/1/2029	455,000.00	6.600	152,955 .00		607,955.00	0.4048887	246,154.12	
29	I 1/1/2029			137,940.00		137,940.00	0.3919526	54,065.95	
30	5/1/2030	485,000.00	6.600	137,940.00		622,940.00	0.3794299	236,362.05	
31	ll/1/2030			121,935.00		121,935.00	0.3673072	44,787.61	
32	5/112031	520,000.00	6.600	121,935.00		641,935 .00	0.3555719	228,254.03	
33	11/1/2031			104,775.00		104,775.00	0.3442115	36,064.76	
34	511/2032	555,000.00	6.600	104,775.00		659,775.00	0.3332140	219,846.27	
35	11/1/2032			86,460.00		86,460.00	0.3225679	27,889.22	
36	511/2033	590,000.00	6.600	86,460.00		676,460.00	0.3122620	211,232.74	
37	11/1/2033			66,990.00		66,990.00	0.3022853	20,250.09	
38	5/1/2034	635,000.00	6.600	66,990.00		701,99 0.00	0.2926274	205,421.50	
39	11/1/2034			46,035.00		46,035.00	0.2832780	13,040.70	
40	5/1/2035	675,000.00	6.600	46,035.00		721,035.00	0.2742274	197,727.54	
41	11/1/2035			23,760.00		23,760.00	0.2654659	6,307.47	
REUNIE15-2-2015-2 I FY: 1 I Mun-EaseElevateMainDb j 16.95f EDB j 11/01/2019 J 11:31 I Rpl01a
Grau & Associates	Page	1
Grau & Associates CPAs

Special Assessment Refunding Bonds, Series 2015-2

MSRB JOI360 SEMI 4/ J

T.I.C. Verification Reoort (Regular)
8,475,000.00

Dated: Deli,md:

5/29/2015

5/ 29/2015

	Coupon
Period	Date	Prinr:ipal
P'!J"1enl	ColljJon
Rate	Interest
P'!Jf'1ent	Credit Enhancements	Periodic Debt Service	Present Value
Factor	Discounted Debt Servia	
	42	5/1/2036	720,000.00	6.600	23,760.00		743,760.00	0.2569844	191,134.68	
		8,475,000.00		7,420,435.00	0.00	15,895,435.00		8,475,000.03	

Arbitrage Net Interest Cosr (ANIC)	6.8000000

Underwriter discount(+) . . . . . . . . . . . . . . .
lump-sum credit enhancements (·) . . . . . . . .
Other TIC costs (·) . . . . . . . . . . . . . . . . . . . .
Bond surety fee (·) . . . . . .
= TIC Target  .

$0.00

True Interest Cost (TIC)	•.		6.6008322		Face value of bond /.-sue. . . . .	$8,475,000.00	
Net Interest Cost (NIC)	•.	...	6.6000000		Accrued Interest(+) . . . . . . . . . . .		
Arbitrage Yield limit (AYL) . . . . . . . .	. . .	6.6008322		Original issue premium/discount(+) ......	$0.00	

$0.00

N/A
$8,475,000.00

REUNIE15-2-2015--2 I FY: 1 I Mun-EaseElevateMainDb I 16.95f EDB I 11101/2019 I 11:31 I Rpto1a
Grau & Associates	Page	2
Grau & Associates CPAs

Cale
D(J/e	Grp
JD	

P11,p	fand
ID	
Description	Gross
A111011n1	Pool
Percentage	NonpH,pose Investment	PH,pose ExpendiJures	Unrpent
Proaeds	
05/29/2015	-1	N	COi	Beg. Arbitrage Gross Proceeds		100.0000000			8,475,000.00	
05129/201S	2016	y		Reverse beg arb gross proceeds	8,475,000.00	I00.0000000		8,475,000.00	0.00	
05/29/2015	2016	y		Tmnsrerred fimds	-617,746.00	100.0000000		-617,746.00	617,746.00	
06/0412015	2016	y		
COi	243,733.00	100.0000000		243,733.00	374,013.00	
07/02/2015	2016	y		Reserve	2.00	100.0000000		2.00	374,011.00	

08/041201S	
2016	y		
Reserve	2.00	I 00.0000000		
2.00	374,009.00	

09/02/2015	
2016	y		Reserve	2.00	100.0000000		2.00	374,007.00	
l0/021201 S	2016	y		Reserve	2.00	!00.0000000		2.00	374,005.00	

ll10312015	2016	y		Reserve	2.00	I00.0000000		2.00	374,003.00	

12/02/2015	2016	y		
Reserve	2.00	100.0000000		2.00	374,001.00	
01/05/2016	2016	y		
Reserve	2.00	100.0000000		2.00	373,999.00	
02102/2016	2016	y		
Reserve	2.00	100.0000000		2.00	373,997.00	

03/02/2016	2016	y		
Reserve	2.00	100.0000000		2.00	373,995.00	
04102/2016	2016	y		Reserve	2.00	100.0000000		2.00	373,993.00	

05/0312016	
2016	y		
Reserve	2.00	I 00.0000000		
2.00	373,991.00	

06/0212016	2017	y		Reserve	2.00	l00.0000000		2.00	373,989.00	
07/0512016	2017	y		Reserve	2.00	I 00.0000000		2.00	373,987.00	

08/0212016	2017	y		
Reserve	2.00	I00.0000000		
2.00	373,985.00	

09/02/2016	2017	y		Reserve	2.00	I 00.0000000		2.00	373,983.00	

l0/0412016	
2017	y		Reserve	2.00	100.0000000		2.00	373,981.00	
11/02/2016	2017	y		Reserve	2.00	100.0000000		2.00	373,979.00	

12/0212016	2017	y		Reserve	2.00	I00.0000000		2.00	373,977.00	
01/0412017	2017	
y		Reserve	27.00	100.0000000		27.00	373,950.00	

02/0212017	
2017	y		
Reserve	57.00	100.0000000		57.00	373,893.00	
03/02/2017	2017	y		Reserve	52.00	100.0000000		52.00	373,841.00	

Grau & Associates
Grau & Associates CPAs

REUNIE15-2-2015--2 I FY: 11 Mun-EaseElevateMainDb I 16.951EDB I 11/01/2019 I 11:28 I Rpt11

PagR	1

Cak Dalt	G,p
ID	
Pu,p	Fl/nd
ID	
Description	Gross Amount	Pool Perren/age	Nonpg,pose Investment	Pu,pose ExpendiJum	UIIIJ!ent Proaeds	

04/04/2017	
2017	
y		
Reseive	

82.00	
100.0000000		
82.00	
373,759.00	
05/02/2017	2017	y		
Reserve	111.00	100.0000000		
111.00	373,648.00	
06/02/2017	2018	y		Reserve	119.00	100.0000000		119.00	373,52.900	
07/05/2017	2018	
y		ReseJVe	151.00	100.0000000		151.00	373,378.00	
08/02/2017	2018	y		Reserve	187.00	
l00.0000000		
187.00	
373,191.00	
09/05/2017	2018	
y		Reserve	193.00	I 00.0000000		193.00	372,998.00	
10/03/2017	2018	y		Reserve	
188.00	100.0000000		188.00	372,810.00	
11/02/2017	2018	y		ReseJVe	198.00	100.0000000		
19 8.00	
372,612.00	
12/04120]7	2018	y		Reserve	204.00	100.0000000		204.00	372,408.00	
0110312018	2018	y		Reserve	251.00	100.0000000		
251.00	372,157.00	
02/02/2018	2018	y		
Reserv e	291.00	I00.0000000		
291.00	371,866.00	
03/02/2018	2018	y		Reserve	272.00	100.0000000		
272.00	
371,594.00	
04103/2018	2018	y		Reserve	348 .00	100.0000000		348.00	
371,246.00	
05/0212018	2018	y		Reserve	388.00	I00.0000000		
388.00	
370,858.00	
06/0412018	2019	
y		Reserve	415.00	100.0000000		415.00	370,443.00	
07/03/2018	2019	y		Reserve	435.00	100.0000000		435.00	370,008.00	
08/0212018	2019	
y		Reserve	477.00	100.0000000		477.00	369,531.00	
09105/2018	2019	y		Reserve	482.00	100.0000000		482.00	369,049.00	
10102120l8	2019	y		Reserve	483.00	100.0000000		
483.00	368,566.00	
11/01/2018	2019	y		
Reserve	1,083.00	100.0000000		
1,083.00	
367,483.00	
11/0212018	2019	y		Reserve	559.00	I 00.0000000		559.00	366,924.00	
12104/2018	2019	
y		Reserve	554.00	100.0000000		
554.00	366,370.00	
0110312019	2019	y		Reserve	599.00	100.0000000		599 .00	365,771.00	
02/04/2019	2019	y		
Reserve	641.00	100.0000000		
641.00	
365,130.00	

Grau & Associates
Grau & Associates CPAs

REUN IE15-2-2015--2 I FY: 1 I Mun-EaseElevateMainDb116.95f EDB I 11/0112019111:28 I Rpt11

Page	2

	Cak Dale	G,p
ID	
Ptnp	Fund ID	
Desmption	Grou
Amosml	Pool Perrtnlage	Nonpu,pose
lnvestmml	Purpose Expenditures	Unspent Proceeds	
	03/04/2019	2019	Y		Reserve	576.00	100.0000000		S76.00	364,554.00	
	04/02/2019	
2019	
Y		
Reserve	641.00	100.0000000		
641.00	
363,913.00	
	
05/01/2019	2019	
Y		Reserve	
425.00	I00.0000000		
425 ,00	
363,488.00	
	05/02/2019	2019	Y		Reserve	625.00	I00.0000000		62S.OO	362,863.00	
						8,112,137.00		0.00	8,112,137.00		

Firstlnvestment Date. . . . . . . . . . . . . . . . . . . . . . . . .	5/29/2015	
Calculation Date . . . . . . . . . . . . . . . . . . . . . . . . . . . .	5/31/2019	
Arbitrage Yield Umit (AYL). . . . . . . . . . . . . . . . . . . .	6.6008322	
lntemal Rate of Return (IRR). . . . . . . . . . . . . . . . . .	0.6386727	

REUNIE15-2-2015--2 J FY: 1 J Mun-EaseElevaleMainDb J 16.95fEDB 111/01/2019111:28 J Rpt11
Grau & Associates	
Grau  & Associates CPAs	Page	3

Reunion East COD	Dated:	05/29/2015
Special Assessment Refunding Bonds, Series 2015-2	Delivered:	05/29/2015
I.R.R. Report Via Purpose Expenditures
$ 8,475,000.00

G,p	Tra111
ID	Date	Fund
ID	

Demiption	D,:ry Count Factor	Calculatinn Amt (Interest EarnittgI)	Pool Pctg	** Internal PVFactor	Rate of Return**
PVAmt	
-1 05/29/2015		Deg. Arbitrage Gross Proceeds	0.0000000	(8,475,000.00)	100.000	1.0000000	(8,475,000 .00)	
2016 05/29/2015		Reverse beg arb gross proceeds	0.0000000	8,475,000.00	100.000	1.0000000	8,475,000.00	
05/29/2015		Transferred funds	0.0000000	(617,746.00)	100.000	1.0000000	(617,746.00)	
06/04/2015		COi	0.0277778	243,733.00	100.000	0.9999114	243,711.42	
07/02/201 S		Reserve	0.1833333	2.00	100.000	0.9994157	2.00	
08/04/2015		Reserve	0.3611111	2.00	100.000	0.9988493	2.00	
09/02/2015		Reserve	0.5166667	2.00	100.000	0.9983541	2.00	
10/02/2015		Reserve	0.6833333	2.00	100.000	0.9978237	2.00	
11/03/2015		Reserve	0.85555S6	2.00	100.000	0.9972760	1.99	
12/02/2015		Reserve	1.0166667	2.00	100.000	0.9967638	1.99	
01/05/2016		Reserve	1.2000000	2.00	100.000	0.9961814	1.99	
02/02/2016		Reserve	l.3500000	2.00	100.000	0.9957051	1.99	
03/02/2016		Reserve	1.5166667	200	100.000	0.9951761	1.99	
04/02/2016		Reserve	1.683333 3	2.00	100.000	0.9946474	1.99	
05/03/2016		Reserve	1.8555556	2.00	100.000	0.9941014	1.99	
2017 06/02/2016		Reserve	2 .0166667	2.00	100.000	0.9935909	1.99	
07/05/2016		Reserve	2.2000000	2.00	100.000	0.9930103	1.99	
08/02/2016		Reserve	2.3500000	2.00	100.000	0.9925356	1.99	
09/02/2016		Reserve	2.5166667	2.00	100.000	0.9920083	1.98	
10/04/2016		Reserve	2.6944 444	2.00	100.000	0.9914462	1.98	
11/02/2016		Reserve	2 .850000 0	2.00	100.000	0.9909546	I.98	
12/02/2016		Reserve	3.0166667	2.00	100.000	0.9904281	1.98	
01/04/2017		Reserve	3.1944444	27.00	100.000	0.9898669	26.73	
02/02/2017		Reserve	3.3500000	57.00	100.000	0.9893761	56.39	
03/02/2017		Reserve	3.5166667	52.00	100.000	0.9888505	51.42	
04/04/2017		Reserve	3.6944444	82.00	100.000	0.9882902	81.04	
05/02/2017		Reserve	3.850 0000	II 1.00	100.000	0.9878002	109.65	
2018 06/02/20l 7		Reserve	4 .0166667	119.00	100.000	0.9872754	117.49	
07/05/2017		Reserve	4.2000000	151.00	100.000	0.9866985	148.99	
08/02/2017		Reserve	4.35 00000	187.00	100.000	0.9862267	184.42	
09/05/2017		Reserve	4.5333333	193.00	100.000	0.9856504	190.23	
10/03/2017		Reserve	4 .6888889	188.00	100.000	0.9851617	185.21	
11/02/2017		Reserve	4.8500000	198.00	100.000	0.9846558	194.96	
12/04/2017		Reserve	5.0277778	204.00	100.000	0.9840979	200,76	
01/03/2018		Reserve	5.1888889	251.00	100.000	0.9835925	246.88	
02/02/2018		Reserve	5.3500000	291.00	100.000	0.9830874	286.08	
03/02/2018		Reserve	5.5166667	272.00	100.000	0.9825651	267.26	
04/03/2018		Reserve	5.6888889	348.00	100.000	0.9820258	341.74	
05/02/2018		Reserve	5.850000 0	388.00	100.000	0.9815215	380.83	
2019 06/04/2018		Reserve	6.02 77778	415.00	100.000	0.9809653	407.10	
07/03/2018		Reserve	6.1888889	435.00	100.000	0.9804615	426 .50	
08/02/2018		Reserve	6.3500000	477.00	100.000	0.9799580	467.44	
09/05/2018		Reserve	6.5333333	482.00	100.000	0.9793854	472.06	
10/02/2018		Reserve	6.6833333	483.00	100.000	0.9789171	472.82	
11/01/2018		Reserve	6 .8444444	1,083.00	100.000	0.9784144	1,059.62	
11/02/2018		Reserve	6.8500000	559.00	100.000	0.9783971	546.92	
12/04/2018		Reserve	7.027 7778	554.00	100.000	0.9778427	541.72	
01/03/2019		Reserve	7.1888889	599.00	100.000	0.9773405	585.43	
02/04/2019		Reserve	7.3611111	641.00	100.000	0.9768040	626.13	
03/04/2019		Reserve	7.5277778	576.00	100.000	0.9762851	562.34	
04/02/2019		Reserve	7.6833333	641.00	100.000	0.9758010	625.49	
REUNIE15-2-2015-2 I FY: 11 Mun-EaseEleveteMainDbI 16.95f EDB I 11/01/2019 I 11:28 I Rpt09c
Grau & Associates	Pagc:	1
Grau & Associates CPf\ s

Reunion East CDD
Special Assessment Refunding Bonds, Series 20 I 5-2
I.R.R. Report Via Purpose Expenditures
$ 8,475,000.00

Dated: Delivered:

05/29/2015
05(29/2015

G,p	Tranr
ID	Date	Fund
ID	

Description	Day Count Factor	Calculation Amt
(Intenst Earnings)	Pool
Pctg	** Internal Rate PV Factor	of Return **
PV  Amt		
2019 05/01/2019		Reserve	7.8444444	425.00	100.000	0.9752999	414.50			
05/02/2019		Reserve	7.8500000	625.00	100.000	0.9752826	609.55			
99999 05/31/2019		Unspent Proceeds as of 05/31/2019	8.0111111	372,505.00	100.000	0.9747818	363,111.09			
				9,642.00			0.04			

Arbitrage Yield Limit . . . . . . . . . . . . . . . .
Internal Rale of Return ...............
Calculation Standard . . . . . . . . . . . . . . . .

6.6008322
0.6386727
MSRB 30/360 SEMI 4/3

REUNIE15-2-2015-2 I FY: 1 IMun-EaseElevateMainOb 116.951EDB I 11/01/2019 I 11:28 I Rpt09c
Grau & Associates	Page	2
Gmu & Associates CPAs

REUNION EAST COMMUNITY DEVELOPMENT DISTRICT
$3,515,000
SPECIAL ASSESSMENT REFUNDING BONDS SERIES 2015-3
ARBITRAGE REBATE REQUIREMENT MAY 31, 2019

Grau & Associates
CERTIFIED  PUBLIC ACCOUNTANTS

951 Yamato Road• Suite 280 Boca Raton, Florida 33431 (561) 994-9299 • (800) 299-4728
Fax (561) 994-5823
www.graucpa.com

October 31, 2019

Reunion East Community Development District Osceola County, Florida

Re:	$3,515,000 Reunion East Community Development District (Osceola County, Florida)
Special Assessment Refunding Bonds, Series 2015-3 (the "Bonds")

Reunion East Community Development District has requested that we  prepare certain computations related to the above-described Bonds for the year ended May 31, 2019 ("Computation Period"). The engagement consisted of the preparation of computations to be used to assist in the determination of the amount, if any, of the Rebate Requirement for the Bonds for the Computation Period as described in Section 148(f) of the Internal Revenue Code of 1986, as amended ("Code"). You have the ultimate responsibility for your compliance with arbitrage rebate laws; therefore, you should review the calculations carefully.

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

The results of our computations based on the information provided to us indicate a Rebate Requirement of $1 for May 31, 2019. Consequently, our results indicate no amount must be on deposit in the Rebate Fund.

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

DESCRIPTION OF ATTACHED SCHEDULES

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

Purpose Expenditures Future Value Report - Verifies the rebate  calculation.  The report future values the purpose expenditures by the arbitrage yield limit to the computation date (May 31, 2019).

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

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

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

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

Reunion East COD
Special Assessment Refunding Bonds, Series 2015-3 Summary of Rebate Calculations
$ 3,515,000.00

Dated: Delivered:

05/29/2015
05/29/2015

Anniversary Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	11/01/2015	
Future-Value Date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	05/31/2019	
Armtrage Yield Limit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	6.6009294	
Total of Purpose Expendituru. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$3,515,000.00	
Internal Rate ef&turn. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	499.5000000	
90% of rebate liabiliry. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$0.90	
Full rebate liability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$1.00	

REUNIE15-3-2015--1 I FY: 11 Mun-EaseElevateMainOb J 16.95f EDB I 11/01/2019 I 11:44 I Rpt22
Grau & Associates
Grnu & Associates CPAs

Page	1

Reunion East COD	Dated:	05/29/2015	
Special Assessment Refunding Bonds, Series 2015-3	Delivered:	05/29/2015	

Purpose Expenditures Future Value Report
$ 3,515,000.00

F11ttm Vi1llled To :

05/3112019

	Tranraction Date	Gro«p
ID	Fund
ID	
Description	Futun: V alue
Periods	Calculation Amt (Int. Earnings)	FV
Pool%	Factor	F V
Amount	
	5/29/2015	-I	COi	Beg. Arbitrage Gross Proceeds	8.0111111	-3,515 ,000.00	100.0000000 l.2971043	-4,559,321.56	
	5/29/2015	2016		Reverse Beg Arb Gross Proceeds	8.0lllll l	3,5I 5,000.00	100.0000000 1.2971043	4,559,321.56	
	5/31/2019	-I		Unspent Proceeds as of05/31/20 I9	0.0000000	1.00	100.0000000 1.0000000	1.00	
						1.00		l.00	

	Arbitrage  field Limit (AYL)	, .	6.6009294		
	Internal Rate of Return (IRR) ........,.....	499.5000000		
	Future Valued To.. .. .. .. . . . . . . . . . . . . . . . . .	5131/2019		

REUNIE1S-3-2015-1 I FY: 11 Mun-EaseElevateMainDb I 16.95f EDB I 11/01/2019I 11:44 I Rpt15a
Grau & Associates

Pa<:ie	1

Gr·au & Associates CPAs	·
I

Reunion East CDD	Dated:	05/29/2015
Special Assessment Refunding Bonds, Series 2015-3	Delivered:	05/29/2015
A.Y.L. Verification Report

3,515,000.00

MSRB 30/ 360 SEMI 4/ 3

Coupon	Principal	Coupon		lntmst		Cred. Enh./		Pmodic	Present Value		Discounted Period	Date	Payment		Rate	Payment	Sinking Fund Adj	Debt Servi.e		Factor	Debt Servi,e

11/01/2015	97,951.35	97,951.35	0.9729S20	95,301.96
2	05/01/2016	105,000.00	6.600	115,995.00	220,995.00	0.9418660	208,147.68
3	11/01/2016	112,530.00	112,530.00	0.9117733	102,601.85
4	05/01/2017	11S,000.00	6.600	112,530.00	227,530.00	0.8826420	200,827.53
5	11/01/2017	108,73S.OO	108,735.00	0.8544415	92,907.69
6	05/01/2018	120,000.00	6.600	108,735.00	228,735.00	0.8271419	189,196.31
7	11/01/2018	104,775.00	104,775.00	0.8007146	83,894.87
8	05/01/2019	130,000.00	6.600	104,775.00	234,775.00	0.7751317	181,981.54
9	11/01/2019	100,485.00	100,485.00	0.7503661	75,400.54
10	05/0L/2020	135,000.00	6.600	100,485.00	235,485.00	0.7263918	171,054.37
11	11/01/2020	96,030.00	96,030.00	0.7031835	67,526.71
12	05/01/2021	145,000.00	6.600	96,030.00	241,030.00	0.6807167	164,073.14
13	11/01/2021	91,245.00	91,245.00	0.6589677	60,127-51
14	05/01/2022	155,000.00	6.600	91,245.00	246,245.00	0.6379136	157,083.02
15	11/01/2022	86,130.00	86,130.00	0.617S321	53,188.04
16	05/0)/2023	165,000.00	6.600	86,130.00	251,130.00	0.5978019	150,125.99
17	11/01/2023	80,685.00	80,685.00	0.5787020	46,692.57
18	05/01/2024	180,000.00	6.600	80,685.00	260,685.00	0.5602124	146,038.98
19	11/01/2024	74,745.00	74,745.00	0.5423136	40,535.23
20	05/01/2025	190,000.00	6.600	74,745.00	264,745.00	0.5249866	138,987.57
21	11/01/2025	68,475.00	68,475.00	0.5082132	34,799.90
22	05/0)/2026	205,000.00	6.600	68,475.00	273,475.00	0.4919757	134,543.05
23	11/01/2026	61,710.00	61,710.00	0.4762570	29,389.82
24	05/01/2027	215,000.00	6.600	61,710.00	276,710.00	0.4610405	127,574.52
25	11/01/2027	54,615.00	54,615.00	0.4463102	24,375.23
26	05/01/2028	230,000.00	6.600	54,615.00	284,615.00	0.4320505	122,968.06
27	11/01/2028	47,025.00	47,025.00	0.4182464	19,668.04
28	05/01/2029	250,000.00	6.600	47,025.00	297,025.00	0.4048834	120,260.49
29	11/01/2029	38,775.00	38,775 .00	0-3919473	15,197.76
30	0S/01/2030	265,000 .00	6.600	38,775.00	303,775.00	0.3794246	115,259.69
31	11/01/2030	30,030.00	30,030.00	0.3673019	11,030.08
32	05/01/2031	285,000.00	6.600	30,030.00	:HS,030.00	0.355S66S	112,014.13
33	11/01/2031	20,625.00	20,625.00	0.3442061	7,099.25
34	05/01/2032	300,000.00	6.600	20,625.00	320,625.00	0.3332087	106,835.04
35	11/01/2032	10,725.00	10,725.00	0.3225626	3,459.48
36	05/01/2033	325,000.00	6.600	10,725.00	335,725.00	0.3122567	104,832.38

REUNIE15-3-2015-1 I FY: 11Mun-EaseElevateMainDb I 16.951EDB I 11/01/2019 I 11:46 I Rpt01h
Grau & Associates
Grau  & Associates  CPAs	Pdge	1

Reunion East CDD	Dated:	05129/2015	
Special Assessment Refunding Bonds, Series 2015-3	Delivered:	05129/2015	

A.Y.l. Verification Report
3,515,000.00

MfRB 30/360SEMI4l3

	Coupon	Principal	Coupon	Interest	Cred. Enh./	Periodic	Present Value	Di!counted	
Period	Date	Pqyment	Rate	Pqyment	Sinking Fund Ac!J	Debt Seruia	Factor	Debt Service	
3,515,000.00	2,588,626.35	0.00	6,103,626.35	3,515,000.02

True Interest Cost (TIC). . . . . . . . . . . . . . . . . .	6.6009296		Face value of bond Issue.	$3,515,000.00	
Net Interest Cost (NIC). . . . . . . . . . . . . . . . . . .	6.6000000		Accrued interest(+) . . . . . . . . . . . . . . . . . . .		
Arbitrage Yield limit (AYL) . . . . . . . . . . . . . . .	6.6009294		Original issue premium/discount(+). . . . . .	$0.00	
Arbitrage Net interest Cost (ANJC). .	6.6000000		Bond surety fee (·). . . . . . . . . . . . . . . . . . . .	$0.00	

	lump-sum credit enhancements(•). . . . . . .	$0.00	
	Other AYL costs (-) . . . . . . . . . . . . . . . . , . . .		
	= AYL Target.	$3,515,000.00	

REUNIE15-3-2015-1 I FY: 11 Mun-EaseElevateMalnDb I 16.95f EDB I11/01/2019I11:46 I Rpt01h
Grau & Associates
Grau & Associates CPAs	Page	2

Reunion East CDD	I
MS RB 30 / 360 SEMI 4/ J
Special Assessment Refunding Bonds, Series 2015-3
T.I.C. Verification Reoort (Regular)	Dat,d:	5 / 29/20 15
3,515,000.00	D,Gv,nd:	5/ 29/ 2015

Period	Collj)on Date	Principal Pqyment	Coupon
Rau	Inurest
Pqymmt	Credit Enhancements	Periodic Debt Serz;ia	Present Vahle Factor	Discounted Debt Service	
	l 1/1/2015			97,951.35		97,951.35	0.9729520	95,301.96	
2	5/1/2016	105,000.00	6.600	115,995.00		220,995.00	0.9418660	208,147.68	
3	11/1/2016			112,530.00		I12,530.00	0.9ll 7733	102,601.85	
4	5/1/2017	115,000.00	6.600	112,530.00		227,530 .00	0.8826420	200,827.53	
5	11/1/2017			108,735.00		108,735 .00	0.8544415	92,907.69	
6	5/1/2018	120,000.00	6.600	108,735.00		228,735.00	0.8271419	189,196.31	
7	11/1/2018			104,775.00		104,775.00	0.8007146	83,894.87	
8	5/1/2019	130,000.00	6.600	104,775.00		234,775.00	0.7751317	181,981.54	
9	11/1/2019			100,485.00		100,485.00	0.7503661	75,400.54	
10	5/1/2020	135,000.00	6.600	I00,485.00		235,485.00	0.7263918	l71,054.37	
11	11/1/2020			96,030.00		%,030.00	0.7031835	67,526.71	
12	5/1/2021	145,000.00	6.600	%,030.00		241,030.00	0.6807167	164,073.14	
13	11/1/2021			91,245.00		91,245 .00	0.6589677	60,127.50	
14	5/1/2022	155,000.00	6.600	91,245.00		246,245.00	0.6379136	157,083.02	
15	11/1/2022			86,130.00		86,130.00	0.6175321	53,188.04	
16	5/1/2023	165,000.00	6.600	86,130.00		251,130.00	0.5978019	150,125.99	
17	11/1/2023			80,685.00		80,685.00	0.5787020	46,692.57	
18	5/1/2024	180,000.00	6.600	80,685.00		260,685 .00	0.5602124	146,038.97	
19	11/1/2024			74,745.00		74,745.00	0.5423135	40,535.23	
20	5/1/2025	190,000.00	6.600	74,745.00		264,745.00	0.5249865	138,987.56	
21	11/1/2025			68,475.00		68,475.00	0.5082131	34,799.90	
22	5/1/2026	205,000.00	6.600	68,475.00		273,475.00	0.4919757	134,543.05	
23	11/1/2026			61,710.00		61,710.00	0.4762570	29,389.82	
24	5/1/2027	215,000.00	6.600	61,710.00		276,710.00	0.4610405	127,574.51	
25	11/1/2027			54,615.00		54,615.00	0.4463102	24,375.23	
26	5/1/2028	230,000.00	6.600	54,615.00		284,615 .00	0.4320505	li 2,968.06	
27	11/1/2028			47,025.00		47,025.00	0.4182464	19,668.04	
28	5/1/2029	250,000.00	6.600	47,025.00		297,025 .00	0.4048834	120,260.49	
29	11/1/2029			38,775.00		38,775 .00	0.3919473	15,197.76	
30	5/1/2030	265,000.00	6.600	38,775.00		303,775.00	0.3794245	115,259.69	
31	11/1/2030			30,030.00		30,030.00	0.3673019	11,030.08	
32	5/1/2031	285,000.00	6.600	30,030.00		315,030.00	0.3555665	112,014.12	
33	11/1/2031			20,625.00		20,625.00	0.3442061	7,099.25	
34	5/1/2032	300,000.00	6.600	20,625.00		320,625.00	0.3332087	106,835.04	
35	11/1/2032			10,725.00		l0, 725.00	0.3225626	3,459.48	
36	5/1/2033	325,000.00	6.600	10,725.00		335,725.00	0.3122567	104,832.38	

REUNIE15-3-2015-1 I FY: 1 IMun-EaseElevateMainDb I16.95f EDB I 11/01/2019I 11:47I Rpt01a
Grau & Associates	Page	1
Grau & Associates CPAs

Reunion East CDD
Special Assessment Refunding Bonds, Series 1015-3

2
MSRB  JO/ 360 SE,'4.l +/ 3

T.I.C. Verification Reoort (Regular)
3,515,000.00

Dated: D,li,m d:

5 / 29/20 15

5/29/2015

Coupon
Penod	Date

Principal P ment

Coupon
Rate

Interest P<!Jment

Credit Enhancements

Penodic
Debt Service

Present Value Factor

Dis,ounted Debt SeT'Vice

3,515,000.00	2,588,626.35	0.00	6,103,626.35	3,514,999.96

True Interest Cost (TIC) . . . . . . . . . .
Net interest Cost (NIC). . . . . . . . . . . . . . .
Arbitrage Yield Limit (AYL) . . . . . . . . . .
Arbitrage Net Interest Cost (ANlC) . . . .

6.8009296
6.6000000
6.6009294
6.6000000

Face value of bond Issue.
Accrued interest (+) . . . . . . . . . .. . .. . . . . .

Underwriter discount (+) . . . . . . . . . . . . . . .	$0.00	
Lump-sum credit enhancement s (-) .. .	$0.00	
Other TIC costs (-) . . . . . . . . . . . . . . . . . . . .		
Bond surety fee (·) ... .	N/A	
= TIC 1hrget	$3,615,000.00	

Original issue premium/discount(+). . . . . .

$3,516,000.00

$0.00

REUNIE15-3-2015--1 I FY: 1 I Mun-EaseElevateMainDbI 16.95f EDB I11/01/2019 I 11:47 I Rpto1a
Grau & Associates	Page	2
Grau & Associates CPAs

Special Assessment Refunding Bonds, Series 2015-3 Unspent Proceeds Report
$ 3,51 5,000.00

Delivered:

05/29/2015

	Cak Date	G,p
ID	
P11,p	F,md ID	
Description	Grou Amount	Pool Pern11lage	Nonp11,pose
Jnvt1Ilment	
	UIISjent
Proceeds	
	05/29/2015	-I	N	COi	Beg. Arl>itrage Gross Proceeds		l00.0000000			3,515,000.00	
	05129/2015	2016	y		Reverse Beg Arb Gross Proceeds	3 ,515, 000.00	100.0000000		3,515,000.00	0.00	
						3,515,000.00		0.00	3,515,000.00		

First Investment DaJe. . . . . . . . . . . . . . . . . . . . . . . . .	5/29/2015	
Calcullllion Date . . . . . . . . . . . . . . . . . . . . . . . . . . . .	5/31/2019	
Arbitr11ge Yield Limit (AYLJ . . . . . . . . . . . . . . . . . . . .	6.6009294	
Internal Rate of Return (IRR). . . . . . . . . . . . . . . . . .	499.5000000	

REUNIE15-3-2015-1 I FY: 1 IMun-EaseElevateMainDb I16.95f EDB I11/01/2019 I 11:44 I Rpt11
Grau & Associates	
Grau & Associates CPAs	Page	1

Special Assessment Refunding Bonds, Series 20 I 5-3
I.R.R. Report Via Purpose Expenditures
$ 3,515,000.00

Delivered:

05/29/2015

G,p
ID	Trans Date	Fund
ID	

Description	DqyCount Factor	Calculation Amt	Pool
(Interest Earnings) Pctg	** Internal Rate of &tunt **
PV Factor	PV Amt		
-l	OS/29/2015		Beg. Acbitrage Gross Proceeds	0.0000000	(3,515,000.00) I00.000	1.0000000	(3,515,000.00)		
2016	05/29/2015		Reverse Beg Arb Gross Proceeds	0.0000000	3,515,000.00 100.000	1.0000000	3,515,000.00		
99999	05/31/2019		Unspent Proceeds as ofOS/31/2019	8.0111111	1.00 100.000	0.0000440	0.00		
					1.00	0.00		

Arbitrage Yield Limit . . . . . . . . . . . . . .. .
Internal Rate of Return . . . . . . . . . . , ... .
Calculation Standard . . . . . . . . . . .. . . . .

6.6009294
499.5000000
MSRB  301360 SEMI 413

REUNIE15-3-2015-1 I FY: 11 Mun-EaseElevateMainDb116.95f EDB I 11/01I2019 I 11:44 I Rpt09c
Grau & Associates	Page	1
Grau & Associates CPAs

S ECTION 6·

MARY JANE ARRINGTON
OSCEOLA COUNTY SUPERVISOR OF ELECTIONS

November 7, 2019

Ms. Stacie Vanderbilt Recording Secretary
Reunion East Community Development District 135 W. Central Blvd.
Suite 320
Orlando, FL 32801

Dear Ms. Vanderbilt:

Below is the revised number of registered voters within the Reunion East Community Development District. This revision is due to our office updating the COD maps within our system.

The number of registered voters within the Reunion East COD is 454 as of November 7, 2019.
If I can be of further assistance, please contact me at 407.742.6000. Respectfully yours,
M'TJ.J!:::t
Supervisor of Elections

NGV O 8 2019
LY:	 	_

2509 East Irlo Bronson Hwy.• Kissimmee, FL 34744 407.742.6000  •  Fax: 407.742.6001  • www.voteosceola.com