VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO. 15 In connection with proposed issuance of the District’s Special Assessment Revenue Bonds, Series 2023

By: Jefferies Group LLC via Business Wire

March 13, 2023 at 14:48 PM EDT

NOTICE OF POTENTIAL BOND ISSUANCE

The Village Community Development District No. 15 (the “District”) is considering the issuance of approximately $140 million* of tax-exempt fixed-rate Special Assessment Revenue Bonds, Series 2023 (the “Bonds”).

The Bonds are preliminarily expected to be priced and be sold during the week of June 19, 2023* with Jefferies LLC serving as the senior managing underwriter and Citigroup Global Markets Inc. serving as co-manager.

If issued, proceeds of the Bonds will be used to (i) pay a portion of the costs of constructing and/or acquiring certain public infrastructure and other public improvements associated with the first phase (“Phase I”) of the residential development planned for within the boundaries of the District; (ii) pay capitalized interest on the Bonds through May 1, 2024*; (iii) fund the Series 2023 Reserve Account of the Reserve Fund for the Bonds in an amount equal to the initial Series 2023 Reserve Requirement; and (iv) pay costs of issuance of the Bonds.

The authorization of the Bonds is subject to approval by the Board of Supervisors of the District (the “Board”) on April 13, 2023*. The sale of the Bonds is also subject to approval by the Chairman and the District Manager, pursuant to authority delegated to them by the Board. Closing of the transaction is also subject to market conditions at the time of issuance.

The payment of principal of and interest on the Bonds will be secured primarily by a pledge of, and lien on, the revenues derived by the District from the special assessments levied on certain assessable residential units in Phase I of the portion of The Villages development within the District. The size, timing and structure of the anticipated transaction are subject to market conditions. The District reserves the right to change the timing and size of the sale or not to issue the Bonds, if to do so would serve the interests of the District.

Potential investors should obtain and review a copy of the District’s Preliminary Limited Offering Memorandum for the offering of the Bonds when it becomes available.

The publication of this notice does not constitute or imply any representation (i) that the foregoing is material to investors, (ii) regarding any financial, operating or other information about the District or the District’s outstanding bonds or (iii) that no other circumstances or events have occurred or that no other information exists concerning the District, the Bonds, the proposed issuance, or the District’s outstanding bonds which may have a bearing on the financial condition of the District, the security for the Bonds or the District’s outstanding bonds, or an investor’s decision to buy, sell or hold the Bonds or any other bonds of the District.

This notice does not constitute an offer to sell or the solicitation of an offer to buy any Bonds nor will there be any sale of the Bonds by any person in any jurisdiction in which it is unlawful for such person to make an offer, solicitation, or sale. Any such offer or solicitation will only be made pursuant to a limited offering memorandum that prospective investors should review in its entirety before making any investment decision.

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*Preliminary, subject to change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230313005722/en/

Contacts

Issuer: Kenny Blocker, 352.751.3939

Jefferies: Michael Baldwin, 407.506.4861

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VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO. 15 In connection with proposed issuance of the District’s Special Assessment Revenue Bonds, Series 2023

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