DocuSign Envelope ID: 63C38C6D-A4C2-4811-9814-A54100O5171F

ROLLING HILLS COMMUNITY DEVELOPMENT DISTRICT

A special meeting of the Board of Supervisors of the Rolling Hills Community Development District was held Thursday, February 3, 2022 at I0:00 a.m. in the Rolling Hills Amenity Center, 3212 Bradley Creek Parkway, Green Cove Springs, Florida.

Present and constituting a quorum were:

Shannon Jordan Rose Bock David Church Nate Riggs

Also present were:

Marilee Giles Michelle Rigoni Freddie Oca Cynthia Wilhelm Sete Zare

Chairperson Supervisor Supervisor
Supervisor by telephone

District Manager
District Counsel by telephone Riverside Management
Nabors Giblin Nickerson by telephone MNS Capital Markets by telephone

The following is a summary of the discussions and actions taken at the February 3, 2022 meeting. An audio copy of the proceedings can be ohtained by contacting the District Manager.

FIRST ORDER OF BUSINESS	Roll Call
Ms. Giles called the meeting to order at 10:00 a.m. and called the roll.

SECOND ORDER OF BUSINESS	Audience Comments
There not being any, the next item followed.

THIRD ORDER OF BUSINESS	Consideration	of	Resolution	2022-05
Amending	Resolution	2022-02	Delegated Award Resolution
Ms. Giles stated Resolution 2022-05 amends Resolution 2022-02, the delegated award resolution.

OocuSign Envelope ID: 63C38C6D-A4C2-4811-9814-A54100D5171F

February 3, 2022	Rolling Hills CDD

Ms. Wilhelm stated the resolution amends Resolution 2022-02, which was adopted by the board in October. We thought we were going to be issuing bonds by the end of the calendar year, 2021. At the time we adopted the resolution we had a not to exceed par amount of approximately
$9.7 million, we are requesting an increase to approximately $12.5 million and we can confirm that we are going to be calling in the 2022 bonds if there are any issued in 2022.
Ms. Zare stated since we first approved the delegation resolution in October there has been
quite a bit of cost adjustments as well as the adjustments in the market that provides for the flexibility to issue just a little bit more in principal. We are asking for an increase in the not to exceed to give a little more flexibility on the date of pricing.
Ms. Jordan asked by raising the not to exceed will this increase the cost to the residents?
Ms. Zare stated the assessment levels are consistent with what you see, it is just that there may be a little more flexibility. What this means to the end user is consistent with all the documents you have read at this point.
Ms. Jordan asked how does that not affect the end user if the bond amount is higher?
Ms. Zare stated that is the 2022A-2 component, the developer has responsibility of prepaying the 2022A-2 bonds down at the time of sale to a builder or to the end user.

On MOTION by Mr. Jordan seconded by Mr. Church with all in fav.or Resolution 2022-05 was approved.

FOURTH ORDER OF BUSINESS	Supervisors Requests
There being none, the next item followed.

FIFTH ORDER OF BUSINESS	Audience Comments
There being none, the next item followed.

SIXTH ORDER OF BUSINESS	Next Meeting Scheduled for February 8, 2022
@ 6:00 p.m. at Rolling Hills Amenity Center
Ms. Giles stated the next meeting is February 8, 2022 at 6:00 p.m. at this location.

On MOTION by Ms. Bock seconded by Ms. Jordan with all in favor the meeting adjourned at 10:08 a.m.

DocuSign Envelope ID: 63C38C6D-A4C2-4811-9814-A54100D5171F

February 3, 2022	Rolling Hills COD

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Secretary Assistant Secretary

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Chairman/Vice Chairman