HGS Attorneys Facilitate Establishment of Unit of Development No. 4 within the West Villages Improvement District, Validate $40 Million in Bonds and Issue Special Assessment Revenue Bonds

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On April 12, 2016, the Board of Supervisors of the West Villages Improvement District (District), as represented by HGS attorneys Jonathan Johnson and Lindsay Whelan, adopted Ordinance No. 2016-06 establishing Unit of Development No. 4 within the District. The District contains approximately 12,409 acres and is located within the City of North Port and unincorporated Sarasota County. Unit of Development No. 4, which contains approximately 354.32 acres, is generally located southwest of N. River Road and north of S. Tamiami Trail in the City of North Port. On May 17, 2016, the District received a Final Judgment from the Twelfth Judicial Circuit Court of Florida validating its Special Assessment Revenue Bond, Unit of Development No. 4, in an amount not to exceed $40,000,000 and on November 15, 2016, issued its Special Assessment Revenue Bonds, Series 2016 (Unit of Development No. 4), in the amount of $13,090,000 (the “Series 2016 Bonds”) with the assistance of Hopping Green & Sams attorneys Jonathan Johnson and Lindsay Whelan. The Series 2016 Bonds will finance a portion of the cost of acquiring, constructing, and equipping the improvements comprising a portion of the District’s Capital Improvement Plan within Unit of Development No. 4.

For additional information, please contact Jonathan Johnson.