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AGENDA
MEETING
OF THE
STATE
BOARD OF ADMINISTRATION
(Contact
Person: Dorothy Westwood - 488-4406)
THE
CAPITOL
April
10, 2001
1.
Approval of minutes of meeting held March 29, 2001. (Att. #1)
2. APPROVAL
OF FISCAL SUFFICIENCY OF NOT EXCEEDING $125,000,000 STATE OF FLORIDA,
FULL FAITH AND CREDIT, STATE BOARD OF EDUCATION CAPITAL OUTLAY BONDS,
2001 SERIES (TO BE DETERMINED):
The
State Board of Education of Florida has submitted for approval as
to fiscal sufficiency a proposal to issue not exceeding $125,000,000
State of Florida, Full Faith and Credit, State Board of Education
Capital Outlay Bonds, 2001 Series (to be determined) (the "Bonds")
for the purpose of refunding all or a portion of the outstanding
Series 1991-A, 1992 Series A, 1994 Series A and 1995 Series A Bonds.
The
State Board of Education is authorized to issue bonds pledging the
full faith and credit of the State payable primarily from funds
provided in Subsection (d) of Section 9 of Article XII of the Constitution
of Florida, as amended (the "School Capital Outlay Amendment"),
for the purpose of providing funds to finance capital outlay projects
for school purposes in the manner provided therein, upon the application
of the School Boards of the School Districts of the State and the
Boards of Trustees of the Community College Districts of the State.
The
State Board of Education has heretofore pledged the State Motor
Vehicle License Taxes distributable to the account of various School
and Community College Districts, pursuant to said School Capital
Outlay Amendment, to the payment of debt service on the Outstanding
Capital Outlay Bonds, Series 1991-A heretofore issued, which bonds
constitute a prior lien on the State Motor Vehicle License Taxes.
The
outstanding Capital Outlay Bonds, 1992 Series A through 2000 Series
A heretofore issued, the authorized but unissued Capital Outlay
Bonds, 2001 Series A and the Bonds proposed to be issued, shall
rank equally and be on a parity in all respects as to lien on and
source and security for payment from the State Motor Vehicle License
Taxes distributable for the account of certain School Districts
and Community College Districts in Florida, under the provisions
of said School Capital Outlay Amendment.
A
study of this proposal and the estimates of revenue expected to
accrue from the Motor Vehicle License Taxes, indicate that the proposed
Bonds and all other outstanding bonds
SBA
AGENDA
April
10, 2001
Page
two
having
a lien on the Motor Vehicle License Taxes are fiscally sufficient
and that the proposal will be executed pursuant to the applicable
provisions of law.
RECOMMENDATION:
It is recommended that the Board approve the fiscal sufficiency
of the proposal outlined above. (Att. #2)
3.
REVIEW AND APPROVE RECOMMENDATION FOR THE CREATION OF A FLORIDA
FOCUSED VENTURE CAPITAL FUND WITHIN THE ALTERNATIVE INVESTMENT ASSET
CLASS. (Att. #3)
4.
PUBLIC EMPLOYEE OPTIONAL RETIREMENT PROGRAM BUDGET AMENDMENT
REQUEST. (Att. #4)
5. THE
FLORIDA HURRICANE CATASTROPHE FUND REQUESTS APPROVAL OF THE FOLLOWING:
1.1. The
Florida Hurricane Catastrophe Fund requests that the Trustees
approve filing a Notice of Change to Forms incorporated into Rules
19-8.010 (2001 Reimbursement Contract) and 19-8.029, F.A.C. (2001
Insurer Reporting Requirements) and approve the filing of these
Rules, as amended, for adoption.
These
rules were the subject of a rule development workshop on January
16, 2001, a Rule Hearing on March 14, 2001 and on March 28, 2001,
the Advisory Council approved the Notice of Change and the filing
of the rules for adoption. A copy of the Notice of Change, the
Rules and Forms, as amended, are provided herewith.
1.2 The
Florida Hurricane Catastrophe Fund requests that the Trustees
approve the 2001 Ratemaking Formula Report, the 2001 Rates, and
the filing of Rule 19-8.028, F.A.C. (2001 Premium Formula) for
Notice of Proposed Rulemaking.
Rule
19-8.028, F.A.C. (Reimbursement Premium Formula) was the subject
of a rule development workshop on January 16, 2001, and, on March
28, 2001, the Advisory Council approved the 2001 Ratemaking Formula
Report, the 2001 Rates, and the filing of Rule 19-8.028, F.A.C.
(2001 Premium Formula) for Notice of Proposed Rulemaking.
A
copy of the 2001 Ratemaking Formula Report, the Proposed 2001
Rates and Rule 19-8.028, F.A.C., will be provided prior to the
meeting. (Att. #5)
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