HGS Attorneys Facilitate Establishment of Grand Oaks Community Development District, Validation of $26 Million in Bonds and Issuance of Special Assessment Revenue Bonds
On August 21, 2018, the St. Johns County Board of County Commissioners adopted Ordinance No. 2018-47 establishing the Grand Oaks Community Development District as petitioned by Southeast Development Partners, LLC and represented by Hopping Green & Sams attorneys Jonathan Johnson and Sarah Warren. The District contains approximately 510.4 acres and is located along the south side of the State Road 16, 1 mile west of I-95 and 1 mile north of Cato Court in St. Johns County. On November 1, 2018, the District received a Final Judgment from the Seventh Judicial Circuit Court of Florida validating its Special Assessment Revenue Bonds in an amount not to exceed $26,000,000, with the assistance of HGS attorneys Jonathan Johnson and Sarah Warren. On October 22, 2018, the District issued its Special Assessment Revenue Bond Anticipation Notes, Series 2018, in the amount of $2,435,000 (the “Series 2018 Notes.”) The Series 2018 Notes will finance a portion of the cost of acquiring, constructing, and equipping the improvements comprising a portion of the District’s Capital Improvement Plan.