University Park Recreation District

Board of Supervisors’ Special Meeting November 4, 2019

MINUTES OF MEETING

UNIVERSITY PARK RECREATION DISTRICT
CONTINUED BOARD OF SUPERVISORS SPECIAL MEETING
Monday, November 4, 2019 at 10:00 am. University Park Country Club, Card Room, 7671 The Park Blvd.,
University Park, Florida 34201

Board Members present at roll call:

Michael Smith	Board Member
Bob Wood	Board Member
Nancy Kopnisky	Board Member
Steve Ludmerer	Board Member
Beth Bertsch	Board Member Also, Present:
Dr. Fishkind	PFM
Carol Harris	PFM	(via phone)

County Club

Laurie Evans

Blalock Walters Law Firm

Mark Barnebey

Various Members of the General Public – See Attached

FIRST ORDER OF BUSINESS	Call to Order and Roll Call

The meeting was called to order at 10:00 a.m. Those in attendance are outlined above.

SECOND ORDER OF BUSINESS	Opening Comments

Mr. Smith provided opening remarks. He note that Resolution 2020-03 is being added to the agenda and will be discussed at the end of the meeting.

Those present stood for the Pledge of Allegiance.

THIRD ORDER OF BUSINESS	Public Comments

There were no public comments at this time.

FOURTH ORDER OF BUSINESS	Consideration of Minutes
Ratify and Reaffirm the Auditor Selection Committee Meeting Minutes, October 11, 2019
Approval of the Board of Supervisors’ Meeting Minutes,
October 11, 2019
Approval of the Board of Supervisors’ Workshop Minutes, October 22, 2019

The Board reviewed the Auditor Selection Committee Meeting Minutes dated October 11, 2019. This document was provided in the October 29, 2019 agenda packet. It was approved by the Board at the October 29, 2019 Board of Supervisors Meeting.

ON MOTION by Ms. Bertsch, seconded by Ms. Kopnisky, with all in favor, the Board ratified and reaffirmed the Minutes of the Auditor Selection Committee Meeting, October 11, 2019.

The Board reviewed the minutes of the Board of Supervisors’ Meeting Minutes, October 11, 2019. The minutes were revised to include Mr. Ludmerer’s comments.

ON MOTION by Ms. Kopnisky, seconded by Ms. Bertsch, with all in favor, the Board ratified and reaffirmed the Minutes of the Board of Supervisors’ Meeting, October 11, 2019.

The Board reviewed the Board of Supervisors’ Workshop Minutes dated October 22, 2019.

ON MOTION by Mr. Smith, seconded by Mr. Ludmerer with all in favor, the Board ratified and reaffirmed the Minutes of the Board of Supervisors’ Workshop Minutes, October 2, 2019.

FIFTH ORDER OF BUSINESS	Ratify and Reaffirm the Insurance for Recreation facilities

The Board reviewed the Insurance for Recreation Facilities.

ON MOTION by Mr. Smith, seconded by Mr. Ludmerer with all in favor, the Board ratified and reaffirmed the Insurance for Recreation Facilities, approving an Umbrella policy for
$10,000,000.00.

Cyber protection insurance will be deferred to the next meeting.

SIXTH ORDER OF BUSINESS	Matters Related to the Series 2019 Bonds
Consideration of Memo from District Manager Regarding Financial Advisory Fee
Ratify and Reaffirm Resolution 2020-02, Authorizing the Issuance of Series 2019 Bonds
Review of Exhibits to Resolution 2020-02
Form of Master Trust Indenture
Form	of	the	First Supplemental Indenture
Form of the Official Notice of Sale
Form	of	Summary Notice of Sale
Form	of	the preliminary Offering Statement
Form of Rule 15c2-12 Certificate
Form of Dissemination Agent Agreement
Reaffirm and Ratify Form of Bond Issuance Commitment from Build America Mutual Assurance Company

Reaffirm and Ratify Letter from District Counsel Regarding Bond Related Fees
Reaffirm and Ratify Use of District’s 5-year Cash Flow projections for the Club
Reaffirm and Ratify the Form of Management Agreement
Reaffirm and Ratify the Form of the Mutual Cooperation Agreement

The Board reviewed the Memo from District Manager Regarding Financial Advisory Fee. The Financial Advisory fee is $130,000.00.

ON MOTION by Mr. Wood, seconded by Mr. Smith, with all in favor, the Board approved Memo from District Manager Regarding Financial Advisory Fee in the amount of $130,000.00.

The Board reviewed Resolution 2020-02.

ON MOTION by Mr. Ludmerer, seconded by Ms. Bertsch, with all in favor, the Board ratified/reaffirmed Resolution 2020-02, Authorizing the Issuance of Series 2019 Bonds.

The Board reviewed the form of Bond Issuance Commitment from Build America Mutual Assurance Company.

ON MOTION by Mr. Wood, seconded by Mr. Ludmerer, with all in favor, the Board ratified/reaffirmed the Form of Bond Issuance Commitment from Build America Mutual Assurance Company.

The Board reviewed the letter from District Counsel regarding Bond related fees.

ON MOTION by Ms. Kopnisky, seconded by Ms. Bertsch, with all in favor, the Board ratified/reaffirmed the Letter from District Counsel regarding Bond related fees.

The Board discussed the use of District’s 5-year cash flow projections for the Club. A discussion took place regarding the projections.

ON MOTION by Ms. Bertsch, seconded by Mr. Wood, with all in favor, the Board ratified/reaffirmed the Use of District’s 3-year Financial Projections for the Club.

The Board reviewed the form of the Management Agreement.

ON MOTION by Mr. Ludmerer, seconded by Mr. Wood, with all in favor, the Board ratified/reaffirmed the Form of the Management Agreement delegating authority to Mr. Wood to finalize.

The Board reviewed the form of the Mutual Cooperation Agreement.

ON MOTION by Ms. Bertsch, seconded by Mr. Ludmerer, with all in favor, the Board ratified/reaffirmed the Form of the Mutual Cooperation Agreement delegating authority to Mr. Wood to finalize.

SEVENTH ORDER OF BUSINESS	Ratification of Payment Authorization 8

The Board reviewed Payment Authorization 8

ON MOTION by Mr. Ludmerer, seconded by Mr. Bertsch, with all in favor, the Board ratified Payment Authorization 8 excluding Blalock invoice 40896-010-1 for $8,500.00.

EIGHTH ORDER OF BUSINESS	Consideration of Resolution 2020-03, Appoint Additional Qualified Depository

The Board reviewed Resolution 2020-03. This resolution would appoint Chase Bank as the qualified depository for the District.

ON MOTION by Mr. Smith, seconded by Mr. Wood, with all in favor, the Board approved Resolution 2020-03, Appoint Additional Qualified Depository.

NINTH ORDER OF BUSINESS	Staff Reports

District Counsel- Mr. Barnebey explained that District staff is pursuing insurance to repay litigation costs. Mr. Charlesworth is assisting District Counsel.

District Manager- No Report

Supervisor Requests- Mr. Smith asked to change the workshop date from November 15, 2019 to November 22, 2019 at 4:00 p.m. The next meeting is scheduled for November 4, 2019 at 10:00
a.m. in the Card Room.

Audience Comments- Mr. Whyte reported that the HOA Turnover Documents were approved. District staff will send notice of sale to Board Members.

TENTH ORDER OF BUSINESS	Adjournment

The next meeting is scheduled for December 4, 2019. The Workshop will take place in the Card room and then move to the Lakeside Room for the Board of Supervisors’ Meeting.

ON MOTION by Ms. Bertsch, seconded by Mr. Ludmerer, with all in favor, the Monday, November 4, 2019 Continued Board of Supervisors’ Special Meeting for University Park was adjourned.

 	_ 	_	 	_ 	
Secretary / Assistant Secretary	Chairman / Vice Chairman

University Park Recreation District
Meeting Date: 12-13-2019

Administrative Matters
1	Subject/Resolution #:	Consideration of Minutes

1a

Board Members:

a. Board of Supervisors' Special Meeting, October 29, 2019
Motion/
Second	Notes:

Michael Smith

Lisabeth Bertsch

Bob Wood

Steve Ludmerer

Nancy Kopnisky

1b	, f-L\	-	Auditor Selection Committee Wor shop, October 29, 2019
tAJf>	Motion I

Board Members:
Michael Smith
Lisabeth Bertsch
Bob Wood
Steve Ludmerer
Nancy Kopnisky

1c

Board Members:
Michael Smith
Lisabeth Bertsch
Bob Wood
Steve Ludmerer
Nancy Kopnisky

2	(

Board Members:
Michael Smith
Lisabeth Bertsch
Bob Wood
Steve Ludmerer
Nancy Kopnisky

Second	Notes:

c. Board of Supervisors' Continued Meeting, November 4, 2019
Motion/

Second	Notes:

Auditor Selection Committee recommendation	W1
/4q	'1.\1•"'
Motion I	C/v.JG-
Second	Notes:	/