Unit 3 2017 Series Bonds Dedicated Usage
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The homeowners of Unit 3 - Grand Paradiso - subjected to assessments for the 2017 Unit 3 Refund Bonds (2017 Bond Series), respectfully ask the West Villages Board members to amend the proposed Board resolution for these Bonds to:
- limit the scope of the 2017 Improvement Project to improvements executed only winthin Unit 3 infrastructure; and
- 2017 Bond Series proceeds, managed via 2017 Acquisition and Construction Account, be allocated to Unit 3 improvement projects only after the Board had them on the regular meetings agenda, such that Unit 3 landowners/homeowners can disseminate and provide input to them.
It is Board's duty to be transparent under Florida Sunshine Law, and to consider the interests of all stakeholders, before making financial decisions. Under the Florida House Bill 2004-456, the benefits of improvements have to be balanced against the assessment raised to pay these bonds. Therefore, it is the Board Supervisors' fiduciary and moral duty to ensure that all the improvement plans financed in/for the Unit 3 via the 2017 Series Bonds are detailed, dedicated, financially sound and efficient.
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