DIVISION OF BOND FINANCE OF THE STATE BOARD OF ADMINISTRATION

(Contact person: J. Ben Watkins III - 488-4782)

The Capitol

June 9, 1998

1. Approval of minutes of the meeting of May 28, 1998.

(Attachment #1)

2. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING

$10,000,000 STATE OF FLORIDA, BOARD OF REGENTS, UNIVERSITY OF FLORIDA

PARKING FACILITY REVENUE BONDS, SERIES 1998.

The bonds will be payable from the revenues of the parking facilities at the University of Florida.

The bonds are not secured by the full faith and credit the State of Florida. The proceeds of the

bonds will be used to finance the construction of two parking facilities on the campus of the

University of Florida.

Copies of the resolution may be obtained from the Division of Bond Finance upon request.

(Recommend)

3. ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE OF NOT EXCEEDING

$29,140,000 STATE OF FLORIDA, BOARD OF REGENTS, FLORIDA INTERNATIONAL

UNIVERSITY HOUSING FACILITY REVENUE BONDS, SERIES 1998.

The bonds will be payable from revenues of the housing facilities at Florida International

University. The bonds are not secured by the full faith and credit of the State of Florida. The

proceeds of the bonds will be used to finance the construction of a housing facility at Florida

International University.

Copies of the resolution may be obtained from the Division of Bond Finance upon request.

(Recommend)

4. REPORT OF AWARD OF $200,530,000 STATE OF FLORIDA, DEPARTMENT OF

TRANSPORTATION, TURNPIKE REVENUE BONDS, SERIES 1998B, TO THE LOW

BIDDER FOR SUCH BONDS.

The Division of Bond Finance was authorized to receive bids for these bonds, and award them to

the low bidder, by a resolution adopted by the Governor and Cabinet. Bids were received at the

office of the Division of Bond Finance at 12:00 noon, May 19, 1998, and the bonds were

awarded to the low bidder, Goldman, Sachs & Co., which submitted a bid at an annual true

interest cost rate of 5.0964%. The bonds are anticipated to be delivered on Tuesday, June 9,

1998.

A report of award and tabulation of bids is attached.

(Attachment #2)

Division of Bond Finance

June 9, 1998

Page 2

5. REPORT ON THE NEGOTIATED SALE OF $227,310,000, STATE OF FLORIDA,

ORLANDO-ORANGE COUNTY EXPRESSWAY AUTHORITY JUNIOR LIEN REVENUE

BONDS, SERIES OF 1998.

Pursuant to Section 348.755(1)(b), Florida Statues, the Orlando/Orange County Expressway

Authority determined that a negotiated sale of the above reference bonds was in the best interest

of the Authority. Accordingly, the Division of Bond Finance, as the issuer of the bonds, sold the

bonds to a syndicate led by PaineWebber Incorporated on May 4, 1998. The bonds were priced

to yield an annual true interest cost rate of 5.2529% and were delivered on May 21, 1998.

The refunding portion of the issue resulted in a present value savings of $4,288,601.22 and a

gross debt service savings of $3,666,781.52.

The report of sale is attached.

(Attachment #3)