The Lake Frances Community Development District (the “District”) is a local unit of special-purpose government of the State of Florida established in accordance with the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended and by Ordinance No. 06-155 of the Board of County Commissioners of Miami Dade County, Florida (the “County”), effective November 3, 2006.  District lands consist of approximately 40 gross acres lying wholly within the County and were developed as a residential community which when fully developed will contain 143 single family residential dwelling units. The District is governed by a five-member Board of Supervisors elected by the Landowners of the District. The District issued Special Assessment Bonds, Series 2007 (the “Bonds”) and has imposed taxes and/or assessments on all assessable property to pay off the Bonds issued to finance the installation and construction  costs of the public infrastructure improvements.
All property owners within the District are subject to annual special assessments which are broken down into two (2) components:

The operation and management of the District owned public improvements.

Bond debt service (annual principal and interest) on the 2007 Bonds.

The District uses the Miami-Dade County Tax Collector to collect the assessments each year. The special assessments appear under the non-ad valorem tax section of the real estate property tax bill. The District’s fiscal year runs from October 1 thru September 30 of each respective year.