October 27, 2025 





Dear Board Members: 



The regular meeting of the Board of Supervisors of the Tranquility Community Development 
District will be held Monday, November 3, 2025 at 10:00 AM at 5445 S. Washington Ave., 
Titusville, FL 37780. 

Following is the advance agenda for the meeting: 







Board of Supervisors Meeting 



































1. Roll Call 
2. Public Comment Period 
3. Organizational Matters 
A. Appointment of Individual to Fill Vacant Seat 5 
B. Administration of Oaths of Office to Newly Elected Supervisors 
C. Consideration of Resolution 2026-01 Appointing Assistant Secretary 
4. Approval of Minutes of the August 8, 2025 Board of Supervisors Meeting 
5. Financing Matters 
A. Presentation and Approval of First Supplemental Engineer’s Report 
dated June 17, 2025 
B. Presentation and Approval of Final Supplemental Assessment Methodology 
dated October 29, 2025 
C. Consideration of Resolution 2026-02 Supplemental Assessment Resolution 
6. Ratification of Fiscal Year 2025 Audit Services Engagement Letter 
7. Staff Reports 
A. Attorney 
B. Engineer 
C. District Manager’s Report 
i. Balance Sheet and Income Statement 
ii. Ratification of Funding Requests No. 42-47 
8. Other Business 
9. Supervisors Requests 
10. Adjournment 










RESOLUTION 2026-01 
A RESOLUTION OF THE TRANQUILITY COMMUNITY 
DEVELOPMENT DISTRICT APPOINTING AN ASSISTANT 
SECRETARY OF THE BOARD OF SUPERVISORS 









WHEREAS, the Board of Supervisors of the Tranquility Community Development District 
desires to appoint _____________________ as an Assistant Secretary. 









NOW, THREFORE, BE IT RESOLVED BY THE BOARD OF 
SUPERVISORS OF THE TRANQUILITY COMMUNITY 
DEVELOPMENT DISTRICT: 









_________________ is appointed as Assistant Secretary of the Board of Supervisors 









ADOPTED ON THIS _______ DAY OF ____________ 2025. 













_____________________________ ____________________________ 

Secretary/ Assistant Secretary Chairman/ Vice Chairman 












MINUTES OF MEETING 

TRANQUILITY 

COMMUNITY DEVELOPMENT DISTRICT 



The regular meeting of the Board of Supervisors of the Tranquility Community 
Development District was held on Wednesday, August 8, 2025 at 2:11 p.m. at 5445 S. Washington 
Ave. Floor, Titusville, Florida. 



Present and constituting a quorum were: 



 Gary Allen Jr. Chairman 

Ken Belshe via phone Vice Chairman 

 William Livingston Assistant Secretary 

Clint Smith Assistant Secretary 





Also, present were: 





Jeremy LeBrun District Manager, GMS 

Rodney Honeycutt District Engineer, Honeycutt & Associates 

Mark Watts by phone Cobb Cole 

Lo Etienne by phone Bryant, Miller, Olive 

Sara Zare by phone MBS Capital Markets 

Darrin Mossing Jr. by phone GMS 







The following is a summary of the discussions and actions taken at the August 8, 2025 
Tranquility Community Development District’s Regular Board of Supervisor’s Meeting. 



FIRST ORDER OF BUSINESS Roll Call 

Mr. LeBrun called the meeting to order at 2:11 p.m. Three Supervisors were in attendance 
in person constituting a quorum and Mr. Belshe joined the meeting by phone. 



SECOND ORDER OF BUSINESS Public Comment Period 

Mr. LeBrun opened the meeting to public comment and asked that comments be kept to 
three minutes. There being no comments, the next item followed. 




 

THIRD ORDER OF BUSINESS Organizational Matters 

A. Appointment of Individual to Fill Vacant Seat 5 


Mr. Lebrun asked if the Board had any nominations for the vacant Board seat. They did 
not and this item will roll over to the next month’s Board of Supervisors meeting. 

 

B. Administration of Oaths of Office to Newly Elected Supervisors 
C. Consideration of Resolution 2025-04 Appointing Assistant Secretary 


Items A through C were tabled to a future meeting agenda. 

 

FOURTH ORDER OF BUSINESS Approval of Minutes of the May 20, 2025 
Board of Supervisors Meeting 

 Mr. LeBrun presented the minutes of the May 20, 2025 Board of Supervisor’s meeting and 
asked for any comments, corrections, or questions. Hearing no changes to the minutes, Mr. LeBrun 
asked for a motion to approve. 

 

On MOTION by Mr. Livingston, seconded by Mr. Smith, with all in 
favor, the Minutes of the May 20, 2025 Board of Supervisors 
Meeting, were approved. 

 

FIFTH ORDER OF BUSINESS Public Hearing 

 Mr. LeBrun asked for a motion to open the public hearing. 

 

On MOTION by Mr. Smith, seconded by Mr. Livingston, with all in 
favor, Opening the Public Hearing, was approved. 

 

A. Consideration of Resolution 2025-05 Adopting the Fiscal Year 2026 Proposed Budget 
and Appropriating Funds 


 Mr. LeBrun presented the resolution and summarized the budget to the Board and offered 
to answer any questions. There have been small unsubstantial changes made to the budget since 
the preliminary budget had been approved by the Board in May. There were no Board questions 
and there was a motion to approve the resolution. 

 


On MOTION by Mr. Livingston, seconded by Mr. Smith, with all in 
favor, Resolution 2025-05 Adopting the Fiscal Year 2026 Proposed 
Budget and Appropriating Funds, was approved. 

 

B. Consideration of Resolution 2025-06 Imposing Fiscal Year 2026 Special Assessments 
and Certifying Assessment Roll 


 Mr. LeBrun presented the resolution and noted that this is the mechanism that will be used 
to fund the budget and offered to answer any Board questions. 

 

On MOTION by Mr. Smith, seconded by Mr. Livingston, with all in 
favor, Resolution 2025-06 Imposing Fiscal Year 2026 Special 
Assessments and Certifying Assessment Roll, was approved. 

 

 Mr. LeBrun asked for a motion to close the public hearing. 

 

On MOTION by Mr. Smith, seconded by Mr. Livingston, with all in 
favor, Closing the Public Hearing, was approved. 

 

SIXTH ORDER OF BUSINESS Consideration of Fiscal Year 2026 Developer 
Funding Agreement 

 Mr. LeBrun noted that this updates the Fiscal Year 2025 Funding Agreement for the 
upcoming year. 

 

On MOTION by Mr. Smith, seconded by Mr. Livingston, with all in 
favor, the Fiscal Year 2026 Developer Funding Agreement, was 
approved. 

 

SEVENTH ORDER OF BUSINESS Financing Matters 

A. Presentation and Approval of First Supplemental Engineer’s Report 


 Mr. Honeycutt noted that there had been no changes to the First Supplemental Engineer’s 
Report and highlighted some areas for the Board. He offered to answer any questions. 

 

On MOTION by Mr. Livingston, seconded by Mr. Smith, with all in 
favor, the First Supplemental Engineer’s Report, was approved. 

 


B. Presentation and Approval of First Supplemental Assessment Methodology dated 
August 8, 2025 


 Mr. LeBrun summarized the tables on the report for the Board starting on page 57 of the 
agenda package. He offered to answer any questions. There being no questions, he asked for a 
motion of approval and the next item followed. 

 

On MOTION by Mr. Livingston, seconded by Mr. Smith, with all in 
favor, Presentation and Approval of First Supplemental Assessment 
Methodology dated August 8, 2025, was approved. 

 

C. Consideration of Resolution 2025-07 Delegation Resolution (Series 2025) 


 Mr. LeBrun presented the resolution to the Board and Mr. Watts summarized it for the 
Board. He noted there will be several documents to be executed in the upcoming bond series and 
stated that primary purposes of the resolution is to authorize the Chair or Vice Chair to work with 
staff to finalize documents related to the bond issuant and execute the documents that are consistent 
with Board approved parameters. There were no Board questions and there was a motion of 
approval 

 

On MOTION by Mr. Smith, seconded by Mr. Livingston, with all in 
favor, Resolution 2025-07 Delegation Resolution (Series 2025), was 
approved. 

 

D. Consideration of Series 2025 Ancillary Documents 
i. Completion Agreement between the CDD and Carolina Holdings II, LLC 


 Mr. Watts summarized all ancillary documents for the Board and offered to answer any 
questions. Mr. LeBrun asked that the Board approves these documents in final substantial form 
pending staff review and signoff by Chair or Vice Chair. 

 

ii. Collateral Assignment from Carolina Holdings II, LLC to the CDD 
iii. True Up Agreement Between the CDD and Carolina Holdings II, LLC 
iv. Acquisition Agreement between the CDD and Carolina Holdings II, LLC 
v. Declaration of Consent to Jurisdiction and Imposition of Series 2025 
Assessments 


 


On MOTION by Mr. Allen, seconded by Mr. Smith, with all in favor, 
the 2025 Ancillary Documents, were approved in substantial form. 

 

EIGHTH ORDER OF BUSINESS Presentation of Fiscal Year 2024 Financial 
Audit Report 

 Mr. LeBrun presented the audit report and noted that its findings can be found in the 
agenda package for review. This was considered a clean audit with no findings and asked for a 
motion to approve the report. 

 

On MOTION by Mr. Smith, seconded by Mr. Livingston, with all in 
favor, Accepting the Fiscal Year 2024 Financial Audit Report, was 
approved. 

 

NINTH ORDER OF BUSINESS Staff Reports 

A. Attorney 


 Mr. Watts had nothing to report to the Board and offered to answer any questions. 

 

B. Engineer 


Mr. Honeycutt had nothing to report. 

 

C. District Manager’s Report 
i. Balance Sheet and Income Statement 


Mr. LeBrun presented the unaudited financials through June 30, 2025. No action was 
required from the Board at this time. 

 

ii. Ratification of Funding Requests No. 38-41 


Mr. LeBrun presented Funding Requests No. 38-41 and asked for ratification. 

 

On MOTION by Mr. Smith, seconded by Mr. Livingston, with all in 
favor, Funding Requests No. 38-41, were ratified. 

 

iii. Approval of the Fiscal Year 2026 Meeting Schedule 


Mr. LeBrun presented the Fiscal Year 2026 Meeting Schedule keeping it the same as the 
previous year on an as needed basis. 

 


On MOTION by Mr. Smith, seconded by Mr. Livingston, with all in 
favor, the Fiscal Year 2026 Meeting Schedule, was approved. 

 

iv. District Goals & Objectives 
i. Adoption of Fiscal Year 2026 Goals & Objectives 


Mr. LeBrun presented the Fiscal Year 2026 goals & objectives that match the current goals 
set for the District that are in compliance with statutory requirements. 

 

On MOTION by Mr. Belshe, seconded by Mr. Smith, with all in 
favor, Adoption of the Fiscal Year 2026 Goals & Objectives, were 
approved. 

 

ii. Presentation of Fiscal Year 2025 Goals & Objectives Authorizing 
Chair to Execute 


Mr. LeBrun presented the goals and objectives from 2025 and noted that they are in line to 
meet them and asked for the Board to authorize the Chair to execute these to the state and posted 
to the District website as required by State statute. 

 

On MOTION by Mr. Livingston, seconded by Mr. Smith, with all in 
favor, Accepting the Fiscal Year 2025 Goals & Objectives 
Authorizing Chair to Execute, was approved. 

 

TENTH ORDER OF BUSINESS Other Business 

 There being no comments, the next item followed. 

 

ELEVENTH ORDER OF BUSINESS Supervisors Requests 

 There being no comments, the next item followed. 

 

TWELFTH ORDER OF BUSINESS Adjournment 

 Mr. LeBrun asked for a motion to adjourn the meeting. 

 

On MOTION by Mr. Smith, seconded by Mr. Allen, with all in favor, 
the meeting was adjourned. 

 

 






________________________ _____________________________ 

Secretary/Assistant Secretary Chairman/Vice Chairman 




RESOLUTION 2026-02 
A RESOLUTION MAKING CERTAIN FINDINGS; APPROVING THE 
FIRST SUPPLEMENTAL ENGINEER’S REPORT DATED JUNE 17, 2025 
AND FIRST SUPPLEMENTAL ASSESSMENT METHODOLOGY FOR 
THE SERIES 2025 PROJECT DATED AUGUEST 8, 2025; SETTING 
FORTH THE TERMS OF THE SERIES 2025 BONDS; CONFIRMING THE 
MAXIMUM ASSESSMENT LIEN SECURING THE SERIES 2025 BONDS; 
LEVYING AND ALLOCATING ASSESSMENTS SECURING SERIES 2025 
BONDS; ADDRESSING COLLECTION OF THE SAME; PROVIDING 
FOR THE APPLICATION OF TRUE-UP PAYMENTS; PROVIDING FOR 
A SUPPLEMENT TO THE IMPROVEMENT LIEN BOOK; PROVIDING 
FOR THE RECORDING OF A NOTICE OF SPECIAL ASSESSMENTS; 
AND PROVIDING FOR CONFLICTS, SEVERABILITY, AND AN 
EFFECTIVE DATE. 

WHEREAS, the Tranquility Community Development District (“District”) has previously 
indicated its intention to undertake, install, establish, construct, or acquire certain public 
infrastructure improvements and to finance such public infrastructure improvements through the 
imposition of special assessments on benefitted property within the District and the issuance of 
bonds; and 



WHEREAS, the District’s Board of Supervisors (“Board”) has previously adopted, after 
notice and public hearing, Resolution 2022-22, relating to the imposition, levy, collection, and 
enforcement of such special assessments; and 

WHEREAS, pursuant to and consistent with the terms of Resolution 2022-22, this 
Resolution shall set forth the terms of bonds to be actually issued by the District and apply the 
adopted special assessment methodology to the actual scope of the project to be financed by such 
series of bonds and the terms of the bond issue; and 



WHEREAS, on _____________, the District entered into a Bond Purchase Agreement 
whereby it agreed to sell its $7,065,000 Tranqulity Community Development District Special 
Assessment Bonds, Series 2025 (the “Series 2025 Bonds”); and 



WHEREAS, pursuant to and consistent with Resolution 2025, the District desires to set 
forth the particular terms of the sale of the Series 2025 Bonds and confirm the levy of special 
assessments securing the Series 2025 Bonds (the “Series 2025 Special Assessments”); 



NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF 
SUPERVISORS OF THE BOGGY BRANCH COMMUNITY 
DEVELOPMENT DISTRICT AS FOLLOWS: 



SECTION 1. AUTHORITY FOR THIS RESOLUTION; DEFINITIONS. This 

Resolution is adopted pursuant to the provisions of Florida law, including without limitation 
Chapters 170, 190, and 197, Florida Statutes, and Resolution 2024-01 of the District. All 
capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in 
Resolution 2024-01. 






 

SECTION 2. MAKING CERTAIN FINDINGS; APPROVING THE ENGINEER’S 

REPORT AND SUPPLEMENTAL ASSESSMENT REPORT. The Board of the District 
hereby finds and determines as follows: 

 

(a) The District adopted Resolution Nos. 2022-14 and 2022-15 on March 23, 2022, Resolution 
No. 2022-22 adopted by the Board on May 11, 2022 after due notice and public hearing, 
which, among other things, equalized, approved, confirmed, and levied special assessments 
on property benefitting from the infrastructure improvements authorized by the District and 
included in the Series 2025 Project designated by Resolution 2022-22. That Resolution 
provided that as each series of bonds were issued to fund all or any portion of the District’s 
Project, a supplemental resolution would be adopted to set forth the specific terms of the 
bonds and to certify the amount of the lien of the special assessments securing any portion 
of the bonds, including interest, costs of issuance, the number of payments due, the true-up 
amounts, and the application of receipt of true-up proceeds. 


 

(b) All assessable land within the boundaries of the District has specially benefitted or will in 
the future benefit from the system of the District public infrastructure and improvements 
(the “Master Improvements”) as described in the Engineer’s Report for Tranquility 
Community Development District, dated March 17, 2022, prepared by Honeycutt & 
Associates, Inc. (the “Master Engineer’s Report) as supplemented by the Supplemental 
Engineer’s Report, prepared by Honeycutt & Associates, Inc., dated June 17, 2025 (the 
"First Supplemental Engineer's Report"), attached to this Resolution as Exhibit A 
(collectively, the “Engineer’s Report”), which such Supplemental Engineer’s Report 
identifies and describes the presently expected components of the public infrastructure 
improvements comprising the Series 2025 Project to be financed in part with the Series 2025 
Bonds, and sets forth the costs of the Series 2025 Project as $19,948,487. The District hereby 
confirms that the Series 2025 Project serves a proper, essential, and valid public purpose. 
The use of the Engineer’s Report in connection with the sale of the Series 2025 Bonds is 
hereby ratified. 


 

(c) The First Supplemental Assessment Methodology for the Series 2025 Project dated October 
29, 2025, attached to this Resolution as Exhibit B (the “Supplemental Assessment 
Report”), applies to the Series 2025 Project and the actual terms of the Series 2025 Bonds. 
The Supplemental Assessment Report is hereby approved, adopted, and confirmed. The 
District ratifies its use in connection with the sale of the Series 2025 Bonds. 


 

(d) The Series 2025 Project will specially benefit all of the developable acreage in the Series 
2025 Project, as set forth in the Supplemental Assessment Report. It is reasonable, proper, 
just, and right to assess the portion of the costs of the Series 2025 Project financed with the 
Series 2025 Bonds to the specially benefitted properties within the Series 2025 Project. 


 

 

SECTION 3. SETTING FORTH THE TERMS OF THE SERIES 2025 BONDS; 
CONFIRMING THE MAXIMUM ASSESSMENT LIEN SECURING THE SERIES 2025 
BONDS. As provided in Resolution 2022-22, this Resolution is intended to set forth the terms of 
the Series 2025 Bonds and the final amount of the lien of the Series 2025 Special Assessments 
securing those bonds. The Series 2025 Bonds, in an aggregate par amount of $7,065,000, shall bear 
such rates of interest and mature on such dates as shown on Exhibit C attached hereto. The sources 
and uses of funds of the Series 2025 Bonds shall be as set forth in Exhibit D. The debt service due 
on the Series 2025 Bonds is set forth on Exhibit E attached hereto. The lien of the Series 2025 


Special Assessments securing the Series 2025 Bonds on all developable land within the District, as 
such land is described in Exhibit B, shall be the principal amount due on the Series 2025 Bonds, 
together with accrued but unpaid interest thereon, and together with the amount by which the annual 
assessments shall be grossed up to include early payment discounts required by law and costs of 
collection. 

 

 

SECTION 4. LEVYING AND ALLOCATING THE SERIES 2025 SPECIAL 
ASSESSMENTS SECURING SERIES 2025 BONDS; ADDRESSING COLLECTION OF 
THE SAME. 

(a) The Series 2025 Special Assessments securing the Series 2025 Bonds shall be 
levied and allocated in accordance with Exhibit B. The Supplemental Assessment Report is 
consistent with the District’s Master Assessment Report. The Supplemental Assessment Report, 
considered herein, reflects the actual terms of the issuance of the Series 2025 Bonds. The estimated 
costs of collection of the Series 2025 Special Assessments for the Series 2025 Bonds are as set 
forth in the Supplemental Assessment Report. 


 

(b) The lien of the Series 2025 Special Assessments securing the Series 2025 Bonds 
includes all developable acreage within the Series 2025 Project, as further provided in the Series 
2025 Assessment Roll included in the Supplemental Assessment Report, and as such land is 
ultimately defined and set forth in site plans or other designations of developable acreage. 


 

(c) Taking into account capitalized interest and earnings on certain funds and accounts 
as set forth in the Master Trust Indenture (the "Master Indenture") between the District and U.S. 
Bank National Association, as Trustee (the “Trustee") as supplemented by a First Supplemental 
Trust Indenture (the "First Supplemental"), collectively referred to with the Master Indenture as 
the “Indenture”), the District shall for Fiscal Year 2026, begin annual collection of Series 2025 
Special Assessments for the Series 2025 Bonds debt service payments using the methods available 
to it by law. The Series 2025 Bonds do not include an amount for capitalized interest. 


 

(d) The District hereby certifies the Series 2025 Special Assessments for collection and 
directs staff to take all actions necessary to meet the time and other deadlines imposed for 
collection by Brevard County and other Florida law. The District’s Board each year shall adopt a 
resolution addressing the manner in which the Series 2025 Special Assessments shall be collected 
for the upcoming fiscal year. The decision to collect Series 2025 Special Assessments by any 
particular method – e.g., on the tax roll or by direct bill – does not mean that such method will be 
used to collect Series 2025 Special Assessments in future years, regardless of past practices. 
Notwithstanding anything to the contrary, in the foregoing, the collection of the Series 2025 Special 
Assessments shall be subject to the applicable provisions of the trust indentures relating to the 
Series 2025 Bonds. 


 

SECTION 5. CALCULATION AND APPLICATION OF TRUE-UP PAYMENTS. 

The terms of Resolution 2022-22, including the Supplemental Assessment Report, addressing 
True-Up Payments, as defined therein, shall continue to apply in full force and effect. 

 

 

 

 

 

 

SECTION 6. IMPROVEMENT LIEN BOOK. Immediately following the adoption of 


this Resolution, the Series 2025 Special Assessments as reflected herein shall be recorded by the 
Secretary of the Board of the District in the District’s Improvement Lien Book. The Series 2025 
Special Assessments against each respective parcel shall be and shall remain a legal, valid, and 
binding first lien on such parcels until paid and such lien shall be coequal with the lien of all state, 
county, district, municipal, or other governmental taxes and superior in dignity to all other liens, 
titles, and claims. 

 

 

SECTION 7. ASSESSMENT NOTICE. The District’s Secretary is hereby directed to 
record a Notice of Series 2025 Special Assessments securing the Series 2025 Bonds in the Official 
Records of Brevard County, Florida, or such other instrument evidencing the actions taken by the 
District. 

 

SECTION 8. CONFLICTS. This Resolution is intended to supplement Resolution 2022- 
22, which remains in full force and effect. This Resolution and Resolution 2022-22 shall be 
construed to the maximum extent possible to give full force and effect to the provisions of each 
resolution. All District resolutions or parts thereof in actual conflict with this Resolution are, to the 
extent of such conflict, superseded and repealed. 

 

SECTION 9. SEVERABILITY. If any section or part of a section of this Resolution be 
declared invalid or unconstitutional, the validity, force, and effect of any other section or part of a 
section of this Resolution shall not thereby be affected or impaired unless it clearly appears that 
such other section or part of a section of this Resolution is wholly or necessarily dependent upon 
the section or part of a section so held to be invalid or unconstitutional. 

 

SECTION 10. EFFECTIVE DATE. This Resolution shall become effective upon its 
adoption. 

 

 




APPROVED and ADOPTED, this 6th day of November, 2025. 





ATTEST: TRANQUILITY COMMUNITY 
DEVELOPMENT DISTRICT 






Secretary/Assistant Secretary Chairman, Board of Supervisors 









Exhibit A: Engineer’s Report 

Exhibit B: First Supplemental Assessment Methodology, dated October 29, 2025 




















































Exhibit A 










Exhibit B 






Exhibit C 










































Exhibit D