As required by Section 218.39 ( 3 )( c ), Florida Statutes , and Section 10.554 ( 1 )( i ) 7 , Rules of the Auditor
General , the City of Port St . Lucie Community Redevelopment Agency reported : a . The millage rate imposed by the Board as 4.9807 mills per $ 1,000 of assessed value . b . The total amount of ad valorem taxes collected on behalf of the Board as $ 2,316,697 . c . The total amount of outstanding bonds issued by the Agency and the terms of such bonds as $ 24,070,000 as of 9 / 30 / 21 . Bond terms payable from and collateralized by a lien upon and pledge of the net tax increment revenues generated in the Community Redevelopment Area , due in annual principal installments ranging from $ 2,225,000 to $ 5,715,000 plus interest semiannually at a rate ranging from 2.0 % to 5.0 % through January 2026 .
Additional Matters
Section 10.554 ( 1 )( i ) 3 ., Rules of the Auditor General , requires us to communicate noncompliance with provisions of contracts or grant agreements , or abuse , that have occurred , or are likely to have occurred , that have an effect on the financial statements that is less than material but warrants the attention of those charged with governance . In connection with our audit , we did not note any such findings .
Purpose of this Letter
Our management letter is intended solely for the information and use of the Legislative Auditing Committee , members of the Florida Senate and the Florida House of Representatives , the Florida Auditor General , Federal and other granting agencies , the Council members and applicable management , and is not intended to be and should not be used by anyone other than these specified parties .
Melbourne , Florida June 20 , 2022
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